Reuters/Kim Kyung-Hoon
A couple poses for a wedding photo shoot outside Marriott hotel ahead of the North Korea-U.S. summit in Hanoi, Vietnam.
Here is what you need to know.
- Trump puts off hiking tariffs on Chinese goods. "I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues," President Donald Trump tweeted Sunday. "As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!"
- Chinese stocks soared. China's Shanghai Composite surged 5.6% to book its best one-day gain since July 9, 2015. It has now gained more than 13% since the Lunar New Year.
- Kim Jong Un is taking a 3.5-day train ride to meet Trump in Vietnam. North Korean leader Kim Jong Un will take a laborious 3.5-day train ride to Hanoi, Vietnam, for his summit with Trump, and experts say it may be because he is too embarassed to borrow a plane from China.
- A $12 trillion reckoning could accelerate the next stock-market crash. Retail investors and pension funds will have to pick up the slack and absorb the debt flooding into the market as the deficit is projected to swell to $12 billion over the next decade, INTL FCStone macro strategist Vincent Deluard says.
- Warren Buffett's annual letter is out. Buffett released his annual letter to sharesholders on Saturday, here are its biggest takeaways.
- Roche is buying Spark Therapeutics for $4.3 billion. The deal will pay Spark shareholders $114.50 per share - a 122% premium to Friday's closing price.
- Barrick Gold proposes a merger with Newmont Mining. The proposal would pay Newmont shareholders 2.5694 Barrick shares per Newmont share, giving them ownership of about 44.1% of the combined company.
- Peloton has picked bankers for its IPO. The digital-exercise-equipment retailer has picked Goldman Sachs and JPMorgan to lead its initial public offering, which could value the company at more than $8 billion, Bloomberg reports.
- Earnings reports trickle out. Etsy and Hertz report after markets close.
- US economic data is light. Dallas Fed manufactuing will be released at 10:30 a.m. ET. The US 10-year yield is up 2 basis points at 2.67%.