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Here's what you need to know before the markets open. 1. Chinese stocks crash as Wuhan coronavirus fears rampage through markets. China's benchmark stock index, the CSI 300, plunged as much as 9.1% on Monday — its worst opening in almost 13 years. 2. Warren Buffett could soon become the S&P 500's most veteran CEO. The current holder of the title, Les Wexner of L Brands, is reportedly in talks to resign amid intense scrutiny of his ties to Jeffrey Epstein and claims of misogyny at Victoria's Secret. 3. Boris Johnson warns Brussels he would rather walk away without a trade deal than make Britain follow EU rules. The prime minister is set to declare that there is "no need" for the United Kingdom to sign up to EU rules and regulations in exchange for high levels of access to European markets. 4. The European Union is seeking an ambitious deal with Britain and demanding fairness. The EU wants zero tariffs and quotas as well as open and fair competition, according to the union's draft mandate for negotiations. 5. China gas demand seen crumbling as virus threat spreads. Several LNG buyers in China told Reuters they are considering either delaying or cancelling cargoes. 6. Worldline's $8.7 billion Ingenico deal to create European payments leader. The two French fintechs expect their merger to help them fend off competition. 7. Zero Hedge was banned from Twitter for Wuhan coronavirus misinformation. The financial blog was permanently suspended by the platform after it published an article identifying a Chinese scientist it claimed created the deadly Wuhan coronavirus. 8. Chinese stocks plunged while other markets were mixed. In China, the Shanghai Composite dropped 7.7% and the SZSE Component plunged 8.3%. Germany's DAX and the Euro Stoxx 50 rose 0.2%, while Britain's FTSE 100 rose 0.4%. US stocks are set to open higher with futures underlying the Dow Jones Industrial Average, S&P 500, and Nasdaq rising about 0.4%. 9. It's a big day for data. Watch out for manufacturing PMI and figures on construction spending and business conditions. 10. Lots of earnings are on deck. Google's parent company, Alphabet, is the highlight. |
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