1. Australia grounds the 737 Max 8: Australia is the latest country to ground the Boeing 737 MAX 8 following the crash of an Ethiopian Airlines flight on Sunday. China, Indonesia, Singapore and airlines in multiple other countries have also suspended use of the aircraft.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -19.00 | | +14.00 | | +1.75 | | -0.07% | | +0.20% | | +0.06% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +378.60 | | +33.31 | | -9.80 | | 21,503.69 | | 3,060.31 | | 7,120.82 | | +1.79% | | +1.10% | | -0.14% | | | |
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| Biggest Winners | | Freeport-McMoRan Inc | +1.70% | | | | American Electric Power Company Inc | +0.73% | | | | Advanced Micro Devices Inc | +0.65% | | | | Pfizer Inc | +0.60% | | | Biggest Losers | | Hewlett Packard Enterprise Co | -2.45% | | | | Boeing Co | -2.06% | | | | Monster Beverage Corp | -1.21% | | | | Seagate Technology PLC | -1.11% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | More bad news for Boeing; Brexit drama; Volkswagen's electric plans | | By Ivana Kottasová, CNN Business | | | | 1. Australia grounds the 737 Max 8: Australia is the latest country to ground the Boeing 737 MAX 8 following the crash of an Ethiopian Airlines flight on Sunday. | | | | China, Indonesia, Singapore and airlines in multiple other countries have also suspended use of the aircraft. | | | | EU regulators have said they are closely monitoring the situation, but they have not yet taken steps to inspect or ground 737 MAX fleets. The US Federal Aviation Administration has deemed 737 MAX planes airworthy. | | | | Shares in Boeing dropped almost 2% in premarket trading, after closing 5% lower on Monday. Spirit AeroSystems, which makes Boeing 737 MAX fuselages, fell 4% on Monday. | | | | 2. Brexit drama: UK lawmakers will have another chance Tuesday to vote for the Brexit deal that Prime Minister Theresa May has negotiated with the European Union. | | | | The pound was trading 0.6% higher against the dollar, at $1.32, ahead of the vote as investors found reasons to be optimistic about the deal's chances. Approval would remove the risk of Britain crashing out of the European Union. | | | | May's first attempt to usher the deal through the parliament ended in an overwhelming defeat, as lawmakers rejected the bill for various reasons. There's still widespread skepticism that she can win enough votes. | | | | If lawmakers do not vote for the deal, the United Kingdom will continue to speed toward its March 29 exit deadline. | | | | Lawmakers may then vote on whether Britain leaves the European Union without any deal at all — or whether May should go back to Brussels to plea for a deadline extension. | | | | 3. Volkswagen's electric plans: Volkswagen has accelerated its already ambitious plans for electric cars, increasing the number of new electric models it plans to build over the next decade from 50 to 70. | | | | The German carmaker has announced massive investments in electric and battery technology, signaling its intention to confront upstarts like Tesla that have carved out a niche in the emerging electric-car market. | | | | Volkswagen said in a statement Tuesday that it now plans to build 22 million electric cars by 2028, a sharp increase from its earlier estimate of 15 million. It said it may also get into the battery manufacturing business in Europe. | | | | The company said its profit reached €13.9 billion ($15.7 billion) in 2018, an increase of 0.7% from the previous year. Shares in Volkswagen dropped slightly. | | | | 4. Wells Fargo: Wells Fargo CEO Tim Sloan will testify before the House Financial Services Committee on Tuesday. | | | | On Monday, the bank released a progress report detailing its "transformation" since September 2016. It highlighted leadership shakeups at the company and new measures aimed at curtailing risk. | | | | Sloan will lay out how Wells Fargo has addressed the aggressive sales tactics that led to the creation of millions of fake accounts and other issues, such as charging thousands of customers for auto insurance they didn't need. | | | | 5. Global market overview: US stock futures were pointing higher. | | | | European markets opened higher, except for the FTSE 100 in London, which includes many multinational companies which face pressure when the pound is stronger. Stocks in Asia finished the trading session higher. | | | | The Dow closed up 0.8% on Monday and the S&P 500 gained 1.5%. The Nasdaq soared 2%, its best day since January 30. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 6. Companies and economics: Dick's Sporting Goods is set to release earnings before the open. | | | | Shares in Meituan Dianping, China's "app for everything," closed 11% lower after the company revealed massive losses for the last three months of 2018. Meituan reported operating losses more than doubled to 3.7 billion yuan ($551 million) last quarter, compared to the same period a year earlier. | | | | The US Bureau of Labor Statistics will release its CPI report for February at 8:30 a.m. ET. | | | | | | | |
| | | | | | Tuesday — Dick's Sporting Goods earnings; Wells Fargo CEO testifies before House Financial Services committee; T-Mobile and Sprint CEOs testify before Congress
Wednesday — US durable goods report
Thursday — Dollar General earnings; New US home sales report; Tesla holds Model Y event
Friday — US industrial production and US consumer confidence report | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $57.37 | +0.58 / +1.02% | | | Gold | $1,297.50 | +6.40 / +0.50% | | | 10-yr | 2.64% | +0.02 | | | Euro | $1.13 | +0.00 / +0.16% | | | |
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