1. Trump moves on NAFTA: President Trump has announced plans to renegotiate the North American Free Trade Agreement. Trump railed against the trade deal as a candidate and as recently as last week declared it harmful to U.S. workers.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +10.00 | | +1.50 | | -0.25 | | +0.05% | | +0.03% | | -0.01% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -37.56 | | +11.34 | | -44.97 | | 19,251.87 | | 3,152.19 | | 7,243.75 | | -0.19% | | +0.36% | | -0.62% | | | |
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| Key Stats | Latest | Today's Change | | | Oil | $49.20 | -0.42 / -0.85% | | | Gold | $1,265.70 | +1.50 / +0.12% | | | 10-yr | 2.31% | -0.02 / -0.69% | | | Euro | $1.09 | -0.00 / -0.01% | | | |
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| News: What you need to know about the markets | | | | | | | Trump targets NAFTA; Tech earnings; U.S. tax plan | By Ivana Kottasová
Thursday, April 27th, 4:53am | | | | 1. Trump moves on NAFTA: President Trump has announced plans to renegotiate the North American Free Trade Agreement. | | | | Trump railed against the trade deal as a candidate and as recently as last week declared it harmful to U.S. workers. | | | | Trump's decision to renegotiate NAFTA came the same day a senior administration official revealed the White House was considering an executive order to withdraw from the trade accord. | | | | The Mexican peso climbed 1% against the dollar. The Canadian dollar also strengthened. | | | | 2. Tech earnings: A slew of tech companies will release quarterly financial reports on Thursday. | | | | Tech stocks have had a good month, with many hitting record highs. That helped the Nasdaq, where most are listed, to briefly cross the 6,000 point barrier earlier this week. | | | | Alphabet, Amazon, Baidu, GoPro, Intel and Expedia are all set to release their results after the bell. | | | | Some U.S. tech firms have vast amounts of cash sitting overseas. Investors will be looking for reactions to Trump's plans for a tax repatriation holiday. | | | | Microsoft will also report after the close. Investors are likely to focus on the performance of its cloud computing business, which has pushed the stock higher in recent months. | | | | 3. Tax plan questions: The Trump administration outlined its new tax proposal Wednesday. Trump wants to slash the top individual tax rate from 39.6% to 35% and reduce the number of tax brackets from seven to three. | | | | He also intends to cut the top tax rate for all businesses to 15%. | | | | But the plan leaves many questions unanswered. | | | | "Market participants are holding back their enthusiasm until they see detail of how [the plan] will be funded," said Kit Juckes, a strategist at Societe Generale. | | | | 4. Global market overview: U.S. stock futures were higher early Thursday. | | | | European markets opened lower, while Asian markets ended the session mixed. Japan's Nikkei and India' Sensex were lower, while markets in China and Hong Kong climbed higher. | | | | The Dow Jones industrial average closed down 0.1% on Wednesday, while the S&P 500 was shed 0.1% and the Nasdaq was flat. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Stock market movers -- Intuit, Paypal: Intuit shares rallied more than 7% in extended trading after it reported a boost in sales of its TurboTax software. | | | | Shares in Paypal were up in extended trading after the payment company reported better then expected first quarter profits. | | | | 6. Earnings and economics: American Airlines, Bristol-Myers, Comcast, Domino's Pizza, Ford and Union Pacific are set to release earnings before the open Thursday, while Starbucks will release earnings after the close. | | | | The U.S. Census Bureau is set to release its advance goods trade balance statistics for March at 8:30 a.m. ET. The durable goods orders report for March is expected at the same time. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | The Bank of Japan left key interest rates unchanged at its meeting earlier Thursday. | | | | The European Central Bank will make a rate decision at 7:45 a.m. ET, followed by an 8:30 a.m. ET press conference by the bank's president Mario Draghi. | | | | The ECB chief is likely to be asked about a potential scaling back of the bank's giant stimulus program. Analysts don't expect any new details on the bank's plans to be announced on Thursday. | | | | | | | |
| | | | | | Thursday -- Alphabet, Microsoft and Amazon report earnings; ECB meeting; U.S. trade balance data
Friday -- GM earnings; U.S. and U.K. first quarter GDP data | | | | | | | |
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