10 things you need to know before the opening bell
Here's what you need to know before the markets open.
1. Oil bounces after Trump uses the 'oldest Middle East oil trick in the book' to kickstart prices. Trump tweeted Wednesday that he'd instructed the US Navy to "shoot down" Iranian gunships in the Strait of Hormuz.
2. Credit Suisse reports a shock 75% spike in profits, but warns coronavirus is having a 'severe impact' on its business. The results are the Swiss bank's first under the leadership of Thomas Gottstein who took over as CEO in February.
3. Jeff Bezos has returned to day-to-day management of Amazon after years of solely focusing on high-impact projects like Alexa. Bezos had delegated many daily management tasks to deputies.
4. Trump signs executive order suspending immigration into the US for 60 days. Trump signed the order on Wednesday. It does not apply to any non-immigrant visas and includes exemptions for essential workers and medical staff.
5. The House is set to pass nearly $500 million more in coronavirus relief. The bill would bring the unprecedented total of funds approved for the crisis to nearly $3 trillion.
6. Italy's Triboo starts selling Chinese COVID-19 antibody tests. Italy's northern region of Lombardy is set to start tests on citizens in four of its hardest-hit cities.
7. Adidas plans a multi-billion euro bond. The German sportswear brand intends to no longer require the government-backed loan it agreed earlier this month to help it get through the coronavirus crisis.
8. Some Asian stocks are slightly higher. In Europe, Germany's DAX fell 0.2%, Britain's FTSE 100 fell 0.2%, and the Euro Stoxx 50 fell 0.1%. In Asia, China's Shanghai Composite fell 0.2%, Hong Kong's Hang Seng rose 0.4%, and Japan's Nikkei rose 1.5%. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq fell 0.2%.
9. Earnings keep coming. Intel, Eli Lilly, China Life Insurance and Volvo are highlights.
10. Economic data releases expected. Continuing jobless claims and IHS Markit's manufacturing and services PMI are due.
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