1. Trade fears ease: Global markets were firmly higher following signs that the United States and China were pulling back from the brink of a potential trade war. US stock futures were pointing higher on Tuesday.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +114.00 | | +59.00 | | +14.75 | | +0.47% | | +0.87% | | +0.55% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +551.22 | | +32.93 | | +128.85 | | 21,317.32 | | 3,166.65 | | 7,017.54 | | +2.65% | | +1.05% | | +1.87% | | | |
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| | | Biggest Winners | | GGP Inc | +3.25% | | | | BB&T Corp | +2.07% | | | | Kellogg Co | +1.86% | | | | Halliburton Co | +1.59% | | | Biggest Losers | | UnitedHealth Group Inc | -1.06% | | | | Kimco Realty Corp | -0.99% | | | | Regency Centers Corp | -0.88% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Trade fears ease; Big pharma deal; Facebook under scrutiny | By Ivana Kottasová
Tuesday, March 27th, 4:59am | | | | 1. Trade fears ease: Global markets were firmly higher following signs that the United States and China were pulling back from the brink of a potential trade war. | | | | US stock futures were pointing higher on Tuesday. | | | | The Dow spiked 669 points, or 2.8%, on Monday -- its third-biggest point gain on record. The Nasdaq gained 3.3% and the S&P 500 climbed 2.7%. | | | | The upbeat mood in the markets marks a sharp reversal from last week, when fears over a trade war caused major losses. | | | | "Trade relationships remain the dominant market driver, with market confidence skating on thin ice," said Joshua Mahony, a market analyst at IG. | | | | CNNMoney's Fear & Greed index shows that "extreme fear" continues to drive investors. | | | | 2. Big pharma deal: GlaxoSmithKline will buy Novartis' stake in a consumer health joint venture the two formed in 2014. The $13 billion deal will give GSK 100% ownership of the business. | | | | The announcement comes less than a week after GSK dropped its bid to buy Pfizer's consumer healthcare business. Shares in GSK jumped 3.5% in London after the announcement. | | | | Novartis said divesting from the venture will enable it to focus on the development and growth of its core businesses. Its shares were trading 1.7% higher. | | | | 3. Facebook data scandal: Facebook shares dropped as much as 5% on Monday after the Federal Trade Commission confirmed it is currently investigating the company's data practices. | | | | A late upswing erased those losses, however. | | | | Facebook is struggling to cope with the fallout from the Cambridge Analytica data scandal. CEO Mark Zuckerberg is facing calls to testify before Congress. | | | | Former Cambridge Analytica contractor Christopher Wylie will appear before a British parliamentary committee on Tuesday. | | | | 4. Global market overview: European markets were higher in early trading, following a positive trading session Asia. Japan's Nikkei was the biggest winner, gaining over 2.6%. | | | | US oil futures were 0.2% higher at $65.70 per barrel. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: McCormick is set to release earnings before the open. Sonic will follow after the close. | | | | Retailer lululemon athletica will also report after the close. The company could face tough questions: Its CEO resigned in February after Lululemon claimed he "fell short" of its standards of conduct. | | | | Shares in H&M declined 6.7% in Stockholm after the Swedish fashion retailer reported a drop in its first quarter profit. The company blamed unusually cold weather for sluggish sales. | | | | The Confidence Board will publish its US consumer confidence report for March at 10 a.m. ET. Last month it was at the highest level since 2000. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Tuesday — Lululemon earnings; US consumer confidence
Wednesday — Blackberry, Gamestop and Walgreens Boots Alliance earnings; US fourth-quarter GDP final look
Thursday — Constellation Brands earnings; UK fourth-quarter GDP final look; US personal spending and consumer sentiment
Friday — US markets closed for Good Friday | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $65.82 | +0.27 / +0.41% | | | Gold | $1,349.20 | -5.80 / -0.43% | | | 10-yr | 2.84% | 0.00 / 0.00% | | | Euro | $1.24 | -0.00 / -0.30% | | | |
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