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 Here is what you need to know. Albert Edwards says the endgame for the global economy is arriving sooner than we expected. The bearish Societe Generale global strategist says a trade war would bring forward the next financial crisis sooner than anticipated. JPMorgan has calculated the likelihood of recession. The firm's model found an 18% chance of a recession over the next year, with chances increasing to 52% over two years and to 72% over three, and it says the best strategy from an asset-allocation perspective is to prepare for the inevitable shift into a late-cycle environment. Toys R Us blames a 'perfect storm' for its demise. Toys R Us says Amazon, Walmart, and Target created a "perfect storm" by discounting toys so steeply over the holidays that it couldn't compete. Qualcomm's ex-chairman is trying to buy the company. Paul Jacobs, the former chairman of Qualcomm, is looking to buy the company just days after President Donald Trump blocked Broadcom's attempt to acquire it, according to the Financial Times. Robinhood could soon be a $5.6 billion company. The popular zero-fee trading app could have a valuation as high as $5.6 billion when it closes its latest funding round, The Wall Street Journal reports. It was most recently valued at $1.3 billion in 2017. Blue Apron is planning to sell its meal kits in grocery stores. Shares of Blue Apron spiked as much as 9.7% Thursday, before ending up 1.39%, after CEO Brad Dickerson told The Wall Street Journal he planned to have his product in grocery stores this year. Levi's brings trademark lawsuit against Chinese companies. The blue-jean maker is suing two companies in China that it accuses of using its iconic double arch on jeans, and it is seeking $47,000 in damages and the destruction of the products. Stock markets around the world are mixed. China's Shanghai Composite (-0.65%) lagged in Asia, and Germany's DAX (+0.3%) leads in Europe. The S&P 500 is set to open up 0.15% near 2,751. Earnings reports trickle out. Tiffany reports ahead of the opening bell. US economic data remains heavy. Housing starts and building permits will be released at 8:30 a.m. ET before industrial production and capacity utilization cross the wires at 9:15 a.m. ET. Data concludes at 10 a.m. ET with Jolts Job Openings and University of Michigan consumer confidence. The US 10-year yield is down 2 basis points at 2.81%. | 
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