10 things you need to know before the opening bell

Here is what you need to know.

1. The ECB doesn't like the idea of Deutsche Bank merging with Commerzbank. "I do not particularly like the idea of national champions, of European champions; especially when you are a supervisor, you should not promote any particular structural outcome," Andrea Enria, chair of the ECB's Single Supervisory Mechanism, told The Financial Times.
2. Deal-making lags 2018. There have been $345.3 billion worth of mergers and acquisitions worldwide so far in 2019 - down from more than $500 billion last year. Take a look at the nine biggest deals so far this year.
3. The next earnings recession could send stocks tumbling. The stock market rallied during the earnings recession of 2015/2016, but Morgan Stanley Chief US Equity Stragest Mike Wilson lays out eight reasons why equities won't be so lucky this time around.
4. The SEC fires back at Elon Musk. The Securities and Exchange Commission said Musk's February tweet about Tesla's production was a "blatant violation" of their court settlement and that it was "stunning to learn" that he had not yet received approval for any of his Twitter posts.
5. A massive cyber attack hit one of the world's largest aluminum companies. The Norwegian aluminium producer and renewable energy provider Norsk Hydro said that "IT systems in most business areas were impacted," but that it did not yet know the full extent of the attack.
6. Tilray posts strong sales. The cannabis producer saw revenue surge 110% to $43.1 million in 2018 as its annual loss widened to $0.82 a share.
7. The Fed meets. Traders are pricing in just a 0.8% chance the Fed hikes rates at the conclusion of its two-day meeting on Wednesday.
8. Stock markets around the world were mostly higher. Hong Kong's Hang Seng (+0.19%) outperformed in Asia and Germany's DAX (+0.58%) leads the advance in Europe. The S&P 500 was set to open up 0.33% near 2,842.
9. Earnings reporting remains light. FedEx and Tencent Music report after markets close
10. US economic data keeps coming. Factory orders and durable goods orders will both cross the wires at 10 a.m. ET. The US 10-year yield was down 1.1 basis points at 2.59%.

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