1. Markets gain on optimism: US stock futures were pointing higher as investors found reasons to be optimistic about developments in Washington. President Donald Trump on Tuesday said he would be willing to stretch his March 1 deadline for reaching a deal with China if it appears the two sides are close to an agreement.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +54.00 | | +24.00 | | +4.50 | | +0.21% | | +0.34% | | +0.16% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +280.27 | | +49.17 | | +34.09 | | 21,144.48 | | 2,721.07 | | 7,167.23 | | +1.34% | | +1.84% | | +0.48% | | | |
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| Biggest Winners | | Freeport-McMoRan Inc | +3.13% | | | | Activision Blizzard Inc | +2.95% | | | | Intuitive Surgical Inc | +1.43% | | | | Coty Inc | +1.20% | | | Biggest Losers | | Deere & Co | -3.30% | | | | Procter & Gamble Co | -0.24% | | | | Coca-Cola Co | -0.22% | | | | Abbott Laboratories | -0.21% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Markets up; Heineken's non-alcoholic star; Oil gains on OPEC news | | By Ivana Kottasová, CNN Business | | | | 1. Markets gain on optimism: US stock futures were pointing higher as investors found reasons to be optimistic about developments in Washington. | | | | President Donald Trump on Tuesday said he would be willing to stretch his March 1 deadline for reaching a deal with China if it appears the two sides are close to an agreement. | | | | And while Trump expressed his displeasure at a border security deal struck by congressional negotiators that would avoid a US government shutdown, he stopped short of rejecting the agreement. | | | | European markets opened higher on Wednesday, following a positive trading session in Asia. Stocks in mainland China were the biggest winners, with indexes in Shanghai and Shenzhen advancing roughly 1.8%. | | | | The Dow Jones industrial average closed 1.5% higher on Tuesday. The S&P 500 gained 1.3% and the Nasdaq added 1.5%. | | | | 2. Heineken's non-alcoholic star: Shares in Heineken, the world's second largest brewer, shot up as much as 5% in Amsterdam after the company reported earnings. | | | | The Dutch company reported sales growth of 6%, with its flagship Heineken brand posting its strongest results in a decade. | | | | The owner of other brands including Sol, Tiger and Amstel also touted a strong performance from its non-alcoholic beer, Heineken 0.0, which is now available in 38 countries, up from 16 in 2017. | | | | Heineken made a huge bet on China in August, buying a 40% stake in China Resources Beer, the maker of Snow. The transaction is awaiting regulatory approval. | | | | Watch CNN Business' live digital show 'Markets Now' at 12:45 p.m. ET | | | | 3. Oil gets a boost: US crude futures were trading 1.2% higher at $53.77 per barrel. Brent crude, the international benchmark, added 1.6% to trade at $63.40 per barrel. | | | | Oil prices gained well over 1% on Tuesday after OPEC's monthly report showed its production had fallen by 800,000 barrels per day in January. | | | | A report by the International Energy Agency published Wednesday estimated the drop was even bigger. It said the cartel's output fell 930,000 barrels a day during the month. | | | | OPEC and its allies including Russia have pledged to reduce their production by 1.2 million barrels a day starting January in an attempt to stabilize the market. | | | | Cartel members agreed to cut 800,000 barrels a day, while Russia said it would slash production by 400,000 barrels a day. | | | | The IEA said that Saudi Arabia, the United Arab Emirates and Kuwait cut more than they were required in January. Russia was almost 200,000 barrels a day above its target. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 4. Earnings and economics: DISH Network, Hilton and Wyndham Hotels & Resorts will release earnings before the open. | | | | Cisco Systems, Fossil, Hyatt Hotels, MGM Resorts, Sleep Number and Yelp will follow after the close. | | | | The US Bureau of Labor Statistics will release its January inflation report at 8:30 a.m. ET. | | | | | | | |
| | | | | | Wednesday — US and UK inflation data; Cisco, Hyatt, Yelp, Heineken report earnings
Thursday — US holiday retail sales; Coca-Cola, CBS, Nvidia report earnings
Friday — Newell Brands and Pepsi report earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $53.74 | +0.64 / +1.21% | | | Gold | $1,314.30 | +0.30 / +0.02% | | | 10-yr | 2.68% | +0.02 | | | Euro | $1.13 | -0.00 / -0.15% | | | |
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