1. Facebook watch: Investors seemed satisfied with CEO Mark Zuckerberg's performance during congressional testimony on Tuesday. But another round of questioning looms. Zuckerberg faced senators a month after news broke that Cambridge Analytica, a data firm with ties to President Donald Trump's campaign, accessed information from as many as 87 million Facebook users without their knowledge.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -175.00 | | -57.25 | | -22.50 | | -0.72% | | -0.86% | | -0.85% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -107.22 | | +17.76 | | -10.75 | | 21,687.10 | | 3,208.08 | | 7,256.00 | | -0.49% | | +0.56% | | -0.15% | | | |
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| | | Biggest Winners | | Carnival Corp | +1.11% | | | | Mattel Inc | +1.04% | | | | Netflix Inc | +0.82% | | | | eBay Inc | +0.78% | | | Biggest Losers | | Kinder Morgan Inc | -2.37% | | | | Symantec Corp | -2.16% | | | | Deere & Co | -1.65% | | | | Seagate Technology PLC | -1.60% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Zuckerberg testifies; Inflation watch; Trade fears ease | By Ivana Kottasová
Wednesday, April 11th, 4:48am | | | | 1. Facebook watch: Investors seemed satisfied with CEO Mark Zuckerberg's performance during congressional testimony on Tuesday. But another round of questioning looms. | | | | Zuckerberg faced senators a month after news broke that Cambridge Analytica, a data firm with ties to President Donald Trump's campaign, accessed information from as many as 87 million Facebook users without their knowledge. | | | | The CEO formally apologized for mistakes that led to the scandal and stressed that his company is rethinking its responsibility to users and society. | | | | Shares in Facebook soared 4.5% on Tuesday. | | | | Zuckerberg will testify on Wednesday before the House Energy and Commerce Committee. | | | | 2. Trade war fears ease: US markets rallied on Tuesday after Chinese President Xi Jinping said that his government plans to "significantly lower" tariffs on imported cars this year. | | | | The Dow Jones industrial average gained 1.8%. The S&P 500 added 1.7%, while the Nasdaq soared 2.1%. | | | | Automakers drove the rally: GM, Ford, Honda and Tesla all gained ground. Boeing and Caterpillar, two American companies that could lose out from a trade war, climbed nearly 4%. | | | | The head of the International Monetary Fund Christine Lagarde weighted in on Wednesday, warning that escalating tensions are putting the global trading system at risk. | | | | 3. Global market overview: US stock futures were lower. | | | | European markets opened lower following a mixed session in Asia. | | | | CNNMoney's Fear & Greed Index, which measures seven indicators of market sentiment, eased slightly on Tuesday. The index is still showing "extreme fear" is driving the markets, but it is gradually moving into more neutral territory. | | | | US crude oil prices dropped 0.3% after spiking earlier in the week over geopolitical tensions in the Middle East. | | | | Investors will be watching for new US crude inventories data at 10:30 a.m. ET. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 4. Interest rates watch: The US Labor Department will release its March consumer price index at 8:30 a.m. ET. | | | | The Federal Reserve will follow with the minutes from its late March meeting at 1:00 p.m. ET. Investors fear that if inflation takes off, the central bank could raise interest rates faster than it plans to. | | | | 5. Earnings and economics: Bed Bath & Beyond will release earnings after the close. | | | | Mario Draghi, president of the European Central Bank, is expected to speak in Frankfurt at 6:00 a.m. ET. | | | | UK construction output continued its recent decline, falling by 1.6% in February over the previous month. Manufacturing continued to grow on annual basis, but at slower pace than expected. The UK trade deficit widened. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Wednesday — Zuckerberg testifies; Fed minutes; CPI; Bed Bath & Beyond earnings
Thursday — BlackRock, Delta, Rite Aid earnings
Friday — Citi, JPMorgan, PNC, Wells Fargo earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $65.85 | +0.34 / +0.52% | | | Gold | $1,349.90 | +4.00 / +0.30% | | | 10-yr | 2.80% | 0.00 / 0.00% | | | Euro | $1.24 | +0.00 / +0.10% | | | |
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