10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, UBER, AMZN, NVDA, PINS, BA)

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, UBER, AMZN, NVDA, PINS, BA)

May 17, 2019 Off By readly




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Here is what you need to know. 

  1. China threatens to cut off trade talks, pressuring stocks. "If there is no real concrete action by the United States, it will be meaningless for you to come and talk," the Chinese Communist Party said in a commentary published by Taoran Notes, a social-media account tied to Economic Daily, a state-run newspaper. China’s Shanghai Composite (-2.48%) led the losses in Asia, and Germany’s DAX (-0.67%) trails in Europe. The S&P 500 is set to open down 0.42% near 2,864.
  2. Amazon is going after Uber in deliveryAmazon on Friday announced a $575 million investment in the UK-based food-delivery startup Deliveroo.
  3. Boeing completes its 737 Max software fix. The planemaker is now working with the Federal Aviation Administration to schedule certification flights and to prepare its certification documents.
  4. Pinterest tanks as guidance comes up short. The visual-bookmarking platform posted a larger-than-expected loss and gave a disappointing full-year revenue forecast, sending shares down by as much as 19% late Thursday.
  5. Nvidia beats. Shares gained more than 5% late Thursday after the chipmaker reported top- and bottom-line beats and gave guidance that outpaced expectations.
  6. Luckin Coffee is going public. Starbucks’ biggest competitor in China priced its initial public offering at $17 a share, raising at least $571.2 million.
  7. Here’s what could happen if China uses its ‘nuclear option’ in the trade warChinese scholars are reportedly looking into the so-called nuclear option in the trade war — Beijing dumping US Treasurys — setting off a debate about what could happen if China divested its holdings.
  8. Bitcoin is tankingThe cryptocurrency was down nearly 8%, trading at $7,266 a coin.
  9. Earnings reports trickle out. Deere releases its quarterly results ahead of the opening bell.
  10. US economic data is light. University of Michigan consumer confidence will be released at 8:30 a.m. ET. The US 10-year yield is down 1.1 basis points at 2.38%. 

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Source of this (above) article: https://markets.businessinsider.com/news/stocks/stock-market-news-opening-bell-may-17-2019-2019-5-1028210545