10 things you need to know before the opening bell
Here's what you need to know before the markets open.
'The 3M saga ends very happily': Trump strikes deal with 3M to import 55 million N95 masks per month. The imported masks will bolster 3M's domestic production of 35 million masks per month.
Japan declares state of emergency, plans $1 trillion stimulus to combat coronavirus downturn. The package, equal to 20% of national GDP, is meant to help families and businesses suffering from the pandemic.
'Light at the end of the tunnel': Stocks surge as fewer new coronavirus cases signal lockdowns are working. Italy, France, Spain, and New York have seen fewer new cases in recent days.
Airbnb could run out of cash in one year, even with the $1 billion it just raised, because of how devastating the coronavirus is on its business. In a worst-case scenario, the online marketplace might not have enough cash to last a year, despite new funding.
Futures surge on early signs of coronavirus slowdown in hot spots. All three major indexes rallied more than 7% on Monday.
VW plans to partially reopen plant in Spain's Navarra on April 20. The plant had shut down mid-March due to the coronavirus outbreak
Early Asia tech results signal slow recovery after virus battering. Smartphone sales and global demand for chips used in work-from-home networks is surging in China.
Stocks are up. In Europe, Germany's DAX rose 3.5%, Britain's FTSE 100 rose 3%, and the Euro Stoxx 50 rose 2.8%. In Asia, China's Shanghai Composite rose 2.1% while Hong Kong's Hang Seng rose 2.1%, and Japan's Nikkei rose 2%. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq were up by 2.2% to 3%.
Earnings keep coming. China-based Will Semiconductor Co Ltd will report its fourth-quarter.
- US economic data is light. Jolts job openings will be released at 10 a.m. ET and consumer credit will cross the wires at 3 p.m. ET.