10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, CRM, DIS)


Xi Jinping

Here is what you need to know.

China rewrote its constitution to officially abolish term limits. China has officially passed a constitutional amendment ending term limits for leader Xi Jinping, the AP says.

South Korea says it will ‘deploy all possible means’ to fight Trump’s tariffs. The third largest importer of US steel says it will do whatever it takes to avoid President Donald Trump’s tariffs and that it has already put in a request for a waiver, Reuters reports.

Chinese iron ore futures got smoked. The May 2018 contract in Dalian plunged another 3% overnight, running its losses since mid-January to 15%.

Saudi Aramco’s record-breaking IPO is set to be delayed until 2019. Officials trying to secure the listing for the UK have been told the $2 trillion float has been delayed, according to the Financial Times.

London house prices are falling at the quickest rate since the financial crisis. London home prices fell 2.6% year-over-year in January to an average of £593,396 ($822,364), a survey released by Acadata showed Monday.

Wall Street is in full agreement about one key element of the stock market — and that could cause the next big meltdown. Much of Wall Street is in agreement that the 10% stock market correction last month was actually healthy for the stock market, but one investment strategist argues the cleansing effect of the selloff wasn’t as pronounced as many are making it out to be.

Salesforce is paying $50 million a year to rent its skyscraper headquarters. The cloud-software company will pay $774 million over the next 15.5 years to rent its new Salesforce Tower in San Francisco, a company filing showed.

Black Panther tops $1 billion at the box office. The film became the fifth from the Marvel universe to top the $1 billion mark globally, Reuters says, citing a Disney estimate of ticket sales.

Stock markets around the world are higher. Hong Kong’s Hang Seng (+1.93%) led the gains in Asia and Germany’s DAX (+0.69%) is out front in Europe. The S&P 500 is set to open up 0.22% near 2,793.

US economic data trickles out. The monthly budget statement will be released at 2 p.m. ET. The US 10-year yield is up 1 basis point at 2.90%.

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Source:: Business Insider


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