1. Facebook's pivot to privacy: Mark Zuckerberg has outlined his vision for Facebook's future, saying he wants the platform to become more focused on privacy. He also teased plans to integrate its various services, including WhatsApp, Instagram and Facebook. "People want to be able to choose which service they use to communicate with people. However, today if you want to message people on Facebook you have to use Messenger, on Instagram you have to use Direct, and on WhatsApp you have to use WhatsApp," Zuckerberg wrote in the post. "We want to give people a choice so they can reach their friends across these networks from whichever app they prefer."
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -77.00 | | -14.50 | | -6.00 | | -0.30% | | -0.20% | | -0.22% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -140.80 | | +4.32 | | -37.46 | | 21,456.01 | | 3,106.42 | | 7,158.54 | | -0.65% | | +0.14% | | -0.52% | | | |
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| Biggest Winners | | CenturyLink Inc | +2.85% | | | | Chevron Corp | +0.38% | | | | CVS Health Corp | +0.37% | | | | Twitter Inc | +0.36% | | | Biggest Losers | | Kraft Heinz Co | -1.40% | | | | Micron Technology Inc | -1.37% | | | | Freeport-McMoRan Inc | -1.12% | | | | Carnival Corp | -1.03% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Facebook's pivot to privacy; Huawei strikes back; ECB watch | | By Ivana Kottasová, CNN Business | | | | 1. Facebook's pivot to privacy: Mark Zuckerberg has outlined his vision for Facebook's future, saying he wants the platform to become more focused on privacy. He also teased plans to integrate its various services, including WhatsApp, Instagram and Facebook. | | | | "People want to be able to choose which service they use to communicate with people. However, today if you want to message people on Facebook you have to use Messenger, on Instagram you have to use Direct, and on WhatsApp you have to use WhatsApp," Zuckerberg wrote in the post. "We want to give people a choice so they can reach their friends across these networks from whichever app they prefer." | | | | Zuckerberg also acknowledged the company's past issues with privacy including the Cambridge Analytica data scandal and the biggest security breach in its history. For investors, the big question is what the strategy shift will mean for the company's data-powered business model. | | | | 2. Huawei strikes back: Chinese tech giant Huawei announced it is suing the US government in its most aggressive move yet to fight back against accusations that its technology poses a global security threat. | | | | Huawei, the world's biggest maker of telecommunications equipment, said Thursday that it has filed a lawsuit in Texas challenging a recent US law that bans federal agencies from buying its products. | | | | The fight between the company and the US government is becoming more and more complex. US prosecutors have filed criminal charges against Huawei in Washington state and New York. Huawei pleaded not guilty in Seattle last week to charges that it tried to steal trade secrets from T-Mobile. | | | | The company's arraignment in Brooklyn on charges that it worked to skirt US sanctions on Iran is scheduled for later this month. Huawei's chief financial officer, Meng Wanzhou, has also been charged in that case. She was arrested in Canada in December and faces extradition to the United States. | | | | 3. ECB watch: The European Central Bank will announce its latest policy decision on Thursday, and bank chief Mario Draghi will hold a press conference at 8:30 a.m. ET. | | | | Investors will be watching to see if the central bank downgrades its economic forecast for the eurozone, as well as signs that interest rate hikes might be kept on hold for longer than previously expected. Recent data show that growth in key eurozone economies including Germany has slowed. | | | | Weaker eurozone growth makes it possible that Draghi will end his eight-year tenure atop the central bank in October without raising rates even once. | | | | 4. Global market overview: US stock futures were pointing lower. European markets opened mostly down, following a mixed trading session in Asia. | | | | The Dow Jones industrial average shed 0.5% on Wednesday. The S&P 500 dropped 0.7% and the Nasdaq slipped 0.9%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings: Kroger, Barnes & Noble and H & R Block will report before the opening bell. | | | | Costco and El Pollo Loco will follow after the close. | | | | | | | |
| | | | | | Thursday — Kroger, H&R Block, Costco earnings
Friday — US jobs report | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $56.66 | +0.44 / +0.78% | | | Gold | $1,287.30 | -0.30 / -0.02% | | | 10-yr | 2.69% | -0.03 | | | Euro | $1.13 | +0.00 / +0.01% | | | |
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