Reuters/Dondi Tawatao
A couple takes a phone selfie at an amusement center in Quezon City, metro Manila, Philippines.
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 antiquated.
JPMorgan has calculated when the next recession will hit. The firm's model found an 18% chance of a recession over the next year, increasing to 52% over two years and to 72% over three, and 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 current funding round, the Wall Street Journal reports. It was last 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 plans to have his product in grocery stores this year.
Levi's is suing Chinese companies for trademark infringement. The blue jean maker is suing two companies in China over trademark infringement for using its iconic double arch on jeans, and 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 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%.