1. China surprise: China's economy is showing renewed signs of life in 2019. The world's second-biggest economy grew slightly more than expected in the first quarter of 2019, official data showed Wednesday. It expanded by 6.4% compared to a year ago, beating economists' forecasts of 6.3%.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +24.00 | | +21.00 | | +5.50 | | +0.09% | | +0.27% | | +0.19% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +56.31 | | +9.52 | | +2.49 | | 22,277.97 | | 3,263.12 | | 7,472.41 | | +0.25% | | +0.29% | | +0.03% | | | |
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| Biggest Winners | | Qualcomm Inc | +6.10% | | | | Intel Corp | +4.04% | | | | UnitedHealth Group Inc | +1.27% | | | | PepsiCo Inc | +1.14% | | | Biggest Losers | | International Business Machines Corp | -3.78% | | | | Skyworks Solutions Inc | -1.66% | | | | PayPal Holdings Inc | -1.23% | | | | Netflix Inc | -1.12% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | China GDP surprise; PepsiCo reports; EU strikes back | | By Ivana Kottasová, CNN Business | | | | 1. China surprise: China's economy is showing renewed signs of life in 2019. | | | | The world's second-biggest economy grew slightly more than expected in the first quarter of 2019, official data showed Wednesday. It expanded by 6.4% compared to a year ago, beating economists' forecasts of 6.3%. | | | | "The big picture is that policy stimulus is clearly working and should help to shore up China's economy in the coming quarters," said Julian Evans-Pritchard, Senior China Economist at Capital Economics. | | | | The prospect of a deeper slowdown in China has been one of the biggest concerns for the global economy this year. | | | | China's growth has been hit by a trade war with the United States and government efforts to rein in a huge amount of debt in China's financial system. | | | | 2. PepsiCo earnings: PepsiCo is set to report its first quarter earnings before the opening bell. Investors are hoping for continued signs of a revival under new CEO Ramon Laguarta. | | | | Laguarta stepped into the role in October, and was able to share good news during the company's fourth quarter earnings call, saying the company exceeded all of the financial targets. | | | | He has pledged to accelerate revenue growth by strengthening and expanding PepsiCo's portfolio and packaging. Investors seem to be pleased so far. The company's stock is up more than 10% in 2019. | | | | 3. More tariff threats: The European Union is expected to unveil a list of American goods that could be targeted with tariffs because of a controversy over Boeing subsidies. | | | | The EU-US dispute over aircraft subsidies has been going on for 15 years, with both sides accusing each other of illegally propping up their plane manufacturers. | | | | The move by Brussels follows a step taken by the Trump administration last week, when it threatened to impose tariffs on as much as $11 billion worth of European imports over subsidies for Airbus. | | | | Watch CNN Business' live digital show 'Markets Now' today at 12:45 p.m. ET | | | | 4. Global market overview: US stock futures were pointing higher. | | | | European markets opened mixed. Stocks in the United Kingdom and Spain were lower, while markets in Germany, France and Italy posted gains. | | | | Stocks in Asia closed mostly higher. | | | | The Dow Jones industrial average closed up 0.3% on Tuesday. The S&P 500 edged up 0.1%, and the Nasdaq gained 0.3%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: Morgan Stanley will release earnings before the open. E*TRADE, Las Vegas Sands and Pier 1 Imports will follow after the close. | | | | The US Energy Information Administration will publish a report on crude inventories at 10:30 a.m. ET. | | | | Chip maker Qualcomm closed 23% higher on Tuesday, after it announced it reached a settlement and license agreement with Apple over patents. | | | | The governors of the Bank of England and the Bank of France are set to speak in Paris at 9:00 a.m. ET. | | | | | | | |
| | | | | | Wednesday — PepsiCo, Morgan Stanley earnings; Fed Beige Book
Thursday — American Express, Skechers earnings; US retail sales
Friday — US markets are closed | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $64.47 | +0.42 / +0.66% | | | Gold | $1,278.50 | +1.30 / +0.10% | | | 10-yr | 2.59% | +0.04 | | | Euro | $1.13 | +0.00 / +0.24% | | | |
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