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10 things you need to know before the opening bell

Email sent: May 1, 2018 7:36 am

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May 01, 2018


Here is what you need to know.

Trump will delay the start of possible trade war with some of the US's closest allies.President Donald Trump announced extensions to steel and aluminum tariff exemptions for six key US allies on Monday.

The dollar is at its best level in almost 4 months.The US dollar index is up 0.4% at 92.20, and trading at levels last seen on January 11.

Australia's central bank holds.The Reserve Bank of Australia held its key interest rate at 1.5%, and said while it is seeing a soft patch in the jobs market it still expects unemployment to fall.

The next bear market in stocks may already be underway and it'll be unlike any in recent history. Morgan Stanley says tax reform has given a temporary and unsustainable earnings boost, and that earnings growth will slow in the second half of the year.

The Mooch's China deal is dead.Anthony Scaramucci, who spent 10 days as the White House Press Secretary, will no longer sell his financial firm, SkyBridge Capital, to the Chinese conglomerate HNA.

Apple deleted a job listing that hints at plans to cut Qualcomm and Intel chips from future phones.A job posting for a "mmWave IC design engineer," which seems to be about Apple creating a new chip in-house specially designed next-generation 5G networks, was taken off Apples site, Cult of Mac noted on Monday.

CEO of supermarket chain caught singing 'We're in the money' after $10 billion deal with Walmart.Mike Coupe, CEO of the UK-based supermarket chain Sainsbury's, was caught on tape singing "We're in the money" before a live TV interview on Monday.

Stock markets around the world are higher.Hong Kong's Hang Seng (+1.74%) led the advance in Europe and Britain's FTSE (+0.39%) paces a quiet session in Europe. The S&P 500 is set to open little changed near 2,649.

Earnings reporting picks back up.Under Armour reports ahead of the opening bell while Apple and Snap are set to release their quarterly results after markets close.

US economic data keeps coming.Markit US Manufacturing PMI will be released at 9:45 a.m. ET before construction spending and ISM Manufacturing are announced at 10 a.m. ET. US auto sales will cross the wires throughout the day. The US 10-year yield is unchanged at 2.95%.

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