Glitch interrupts trading; Mylan disappoints; Ocado's tech focus

1. Trading halt: Technical problems forced the world's biggest exchange operator to halt trading for over three hours on Tuesday evening in the United States. CME Group, which is based in Chicago, said in a statement that trading was stopped at 6:39 p.m. CT. Trading resumed at 9:45 p.m. CT after the technical issue was identified and resolved.

Where U.S. stocks are heading Dow Futures   Nasdaq Futures   S&P Futures -65.00   -14.25   -6.00 -0.25%   -0.20%   -0.21%

World Markets Japan   China   U.K. Nikkei 225   Shanghai Composite   FTSE 100 +107.12   +12.31   -65.86 21,556.51   2,953.82   7,085.26 +0.50%   +0.42%   -0.92%

Biggest Winners Philip Morris International Inc +1.10%   General Electric Co +1.03%   Newmont Mining Corp +0.86%   Goodyear Tire & Rubber Co +0.61% Biggest Losers Mylan NV -11.04%   Goldman Sachs Group Inc -1.30%   Micron Technology Inc -0.88%   Carnival Corp -0.86%

News: What you need to know about the markets     Glitch interrupts trading; Mylan disappoints; Ocado's tech focus By Charles Riley, CNN Business   1. Trading halt: Technical problems forced the world's biggest exchange operator to halt trading for over three hours on Tuesday evening in the United States.   CME Group, which is based in Chicago, said in a statement that trading was stopped at 6:39 p.m. CT. Trading resumed at 9:45 p.m. CT after the technical issue was identified and resolved.   The outage affected the CME Globex platform, which is an electronic trading system for futures and options. The platform allows trade in stocks, interest rates, foreign exchange, commodities and other asset classes.   CME Group's statement did not provide details on the technical issue that caused the outage.   2. Spotify in India: Spotify has launched in India after keeping music fans waiting nearly a year.   Indian users can now download the Spotify app and access more than 40 million songs, according to the streaming company. Spotify Premium, its ad-free subscription service, will cost 119 rupees ($1.65) per month, a fraction of its $9.99 price in the United States.   The company is going after a chunk of India's half a billion internet users. A recent boom in sales of smartphones and cheap mobile data plans has attracted Silicon Valley's biggest players to the country. Google, Facebook, Amazon and Netflix have spent billions of dollars expanding their Indian businesses.   Spotify's India launch pits it against Apple and Amazon, as well as local services such as Gaana and JioSaavn.   3. Mylan disappoints: Shares in Mylan plunged nearly 10% in premarket trading after the generic drugmaker reported earnings for the fourth quarter that missed Wall Street estimates.   The company also issued guidance for 2019 that was well below analyst expectations.   Mylan CEO Heather Bresch said she was confident about the coming year, however.   "Through leveraging the diversification across our commercial, operational and scientific platforms, we feel incredibly positive about our ability to deliver a strong top-line financial performance in 2019," she said in a statement.   4. Ocado delivers: Retailer Marks and Spencer is paying up to £750 million ($996 million) for 50% of Ocado's UK retail business.   The deal solves a problem for M&S, ensuring that its products can now be delivered to UK consumers that have come to reply on home delivery. Ocado can use the cash to invest in its technology business. The company is increasingly focused on licensing its robotic warehouse tech to other retailers, and already has deals with Kroger in the United States and Casino in France.   Ocado CEO Tim Steiner said the deal would create a "stronger platform from which to innovate and develop our unique and proprietary technology."   Shares in Ocado gained 1% on Wednesday. The stock is already up nearly 27% so far this year. Shares in M&S dropped almost 9% in London. M&S said it would finance the deal by reducing its dividend by 40% and issuing new shares worth up to £600 million ($797 million).   Watch CNN Business' live digital show 'Markets Now' at 12:45 p.m. ET   5. Global market overview: US stock futures were slightly lower.   European markets opened with losses of less than 1%. Stocks in Asia closed mixed.   The Dow shed 0.1% on Tuesday. The S&P 500 dropped 0.1% and the Nasdaq declined 0.1%.   Before the Bell newsletter: Key market news. In your inbox. Subscribe now!   6. Earnings and economics: Best Buy, Campbell Soup, Lowe's and Sinclair Broadcast will release earnings before the open.   Boingo Wireless, Fitbit, Hostess Brands, L Brands, Monster Beverage and Square will follow after the close.   Federal Reserve Chairman Jerome Powell will delivery his semiannual monetary policy report to the House Financial Services Committee.

Coming this week:     Wednesday — Lowe's, Best Buy and Campbell Soup earnings, Powell appears before House Financial Services Committee Thursday — GDP report, JCPenney, PG&E, Gap, Nordstrom and Anheuser-Busch earnings Friday — Marriott earnings

Key Market Stats Latest Today's Change Oil $56.41 +0.91 / +1.64% Gold $1,329.40 +0.90 / +0.07% 10-yr 2.64% -0.04 Euro $1.14 +0.00 / +0.06%

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