1. Grab some cash: Ride-hailing startup Grab is getting a $1.5 billion cash boost from SoftBank's massive tech fund as it seeks to strengthen its business across Southeast Asia. Grab, which is based in Singapore, plans to use the money to add more services to its app. It also plans to invest in Indonesia, where it's competing aggressively against its smaller rival GoJek.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -36.00 | | -4.00 | | -3.50 | | -0.14% | | -0.06% | | -0.13% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -129.47 | | +47.85 | | +12.25 | | 21,596.81 | | 3,102.10 | | 7,195.68 | | -0.60% | | +1.57% | | +0.17% | | | |
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| Biggest Winners | | Mylan NV | +1.72% | | | | Kohls Corp | +0.63% | | | | Johnson & Johnson | +0.38% | | | | AT&T Inc | +0.37% | | | Biggest Losers | | TripAdvisor Inc | -2.52% | | | | CSX Corp | -2.22% | | | | Qualcomm Inc | -1.15% | | | | Electronic Arts Inc | -0.75% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Grab cash boost; Huawei drama; Carlos Ghosn released | | By Ivana Kottasová, CNN Business | | | | 1. Grab some cash: Ride-hailing startup Grab is getting a $1.5 billion cash boost from SoftBank's massive tech fund as it seeks to strengthen its business across Southeast Asia. | | | | Grab, which is based in Singapore, plans to use the money to add more services to its app. It also plans to invest in Indonesia, where it's competing aggressively against its smaller rival GoJek. | | | | The latest funding values Grab at about $14 billion, according to a person familiar with the company. That's up from a valuation of $11 billion last year. | | | | Softbank's $100 billion Vision Fund is already a significant investor in Grab and other major ride-hailing companies such as Uber. Led by SoftBank founder and CEO, Masa Son, the Saudi-backed fund has become a key player in the global tech industry, pouring big sums into startups like WeWork. | | | | 2. Huawei drama: The conflict between Huawei and the United States will be back in focus on Wednesday, as the Chinese company's chief financial officer, Meng Wanzhou, is due back in court in Vancouver. | | | | The executive, who is the daughter of Huawei founder Ren Zhengfei, was arrested in Canada in December at the request of the United States. US prosecutors want her to stand trial in New York. On Friday, Canada cleared the way for her extradition hearing. | | | | Meanwhile, two cases against Huawei are unfolding in US federal court. 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. Meng has also been charged in that case. She and Huawei have denied the charges. | | | | Investors are watching closely because the legal cases could become a big factor in trade talks between the United States and China. President Donald Trump has suggested that he could consider intervening in Meng's case if it would help his administration's discussions with China. | | | | 3. Ghosn out of jail: Carlos Ghosn has left a Tokyo jail after spending more than three months in detention on allegations of financial misconduct. | | | | Ghosn, the former head of Nissan and Renault, walked out of a detention center after posting bail of 1 billion yen ($9 million). | | | | His bail conditions require him to stay in Japan and be closely monitored. An appeal by prosecutors against the decision to let him out was rejected late Tuesday. | | | | The auto executive is awaiting trial on charges he understated his income and abused his position by temporarily transferring personal investment losses to the Japanese carmaker. | | | | Ghosn denies all the charges. If found guilty, he could face as many as 15 years in prison. | | | | 4. Global market overview: US stock futures were pointing lower. European markets opened mixed, following the trend set in Asia. | | | | The Dow Jones industrial average and the Nasdaq closed flat on Tuesday. The S&P 500 shed 0.1%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: Abercrombie & Fitch and Dollar Tree will release earnings before the open. | | | | A report on crude inventories from the US Energy Information Administration will be released at 10:30 a.m. ET. | | | | | | | |
| | | | | | Wednesday — Dollar Tree and Abercrombie & Fitch earnings, Fed Beige Book
Thursday — Kroger, H&R Block, Costco earnings
Friday — US jobs report | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $56.06 | -0.50 / -0.88% | | | Gold | $1,286.80 | +2.10 / +0.16% | | | 10-yr | 2.72% | 0.00 | | | Euro | $1.13 | -0.00 / -0.00% | | | |
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