10 things you need to know before the opening bell
Here is what you need to know.
1. Adam Neumann's $1.7 billion golden parachute could be slashed as SoftBank looks to trim its WeWork rescue deal. Some SoftBank executives have said the WeWork cofounder and former CEO's leaving package is too generous, Bloomberg reported.
2. The OECD charted how hard Trump's trade war is hammering global growth. "Escalating conflict over tariffs ... has hit trade, is undermining business investment, and is putting jobs at risk," the OECD said. Global GDP is set to plunge to 2.9% in 2019.
3. Uber's former CEO Travis Kalanick dumped his stock again - his November selling spree racked up $1.5 billion. Travis Kalanick is cashing in on Uber and looking to raise money for his new startup, CloudKitchens.
4. Microsoft is one of the few US businesses now allowed to do business with blacklisted Huawei. Microsoft can export software to Huawei, despite a trade blacklist.
5. China central bank cracks down on cryptocurrency trading in Shanghai. China's central bank launched on Friday a fresh crackdown on cryptocurrency trading in the financial hub of Shanghai, after Beijing's promotion of blockchain technology reignited interest in virtual currencies.
6. Tesla reveals Cybertruck, a 6-passenger pickup featuring 3 motors, armored glass, and up to 500 miles of range. The new pickup truck is the sixth passenger vehicle in Tesla's lineup and the third new vehicle from the brand to be announced in three years.
7. China's Xi says wants to work out 'phase one' trade deal with US. China wants to work out an initial trade agreement with the United States and has been trying to avoid a trade war, but it is not afraid to retaliate when necessary, President Xi Jinping said on Friday.
8. Stocks are rising to end the week. US futures underlying the Dow (+0.2%), S&P 500 (+0.2%) and the Nasdaq (+0.3%) are up. In Europe, stocks are rallying with the DAX (+0.3%) and Euro Stoxx 50 (+0.4%) pushing higher. Asian stocks closed mixed, with the Nikkei (+0.3%) and Hang Seng (+0.5%) rallying but the Shanghai Composite (-0.6%) slid.
9. Friday is a quieter earnings day. Foot Locker is the standout release.
10. Today is a big day for data. Markit data on manufacturing and services is out this morning.