Here's what you need to know before the
1. Wirecard has filed for insolvency after a devastating scandal that saw $2 billion go missing and its ex-CEO get arrested. German fintech group Wirecard AG has filed for insolvency days after its CEO Markus Braun resigned and was arrested in relation to alleged market manipulation and false accounting.
2. The company's shares dive 75% after its insolvency filing. Wirecard's shares crashed in a brutal sell-off on Thursday. Shares were initially halted but plummeted as soon as trading began.
3. Global stocks wobble as coronavirus cases surge and a 'harsh dose of COVID-19 reality' hits investors. Global stocks were shaky on Thursday as investors weighed the possibility of a rapid rise in US coronavirus cases leading to reimposed shutdowns, and a bleak economic outlook from the IMF.
4. Goldman CEO David Solomon thinks Wall Street's rally in recent months is overblown and stocks are 'a little bit ahead' of where they should be. Goldman Sachs boss David Solomon thinks Wall Street's recent rally is out of step with reality and markets have risen too quickly from their March slump.
5. Insurance startup Lemonade plans to raise $286 million in IPO. Tech-driven insurance startup Lemonade Inc said on Thursday it was looking to raise up to $286 million in its US initial public offering (IPO).
6. Peugeot CEO says merger with Fiat Chrysler on track. Peugeot maker PSA's boss Carlos Tavares said on Thursday he was confident the merger of the French carmaker and Fiat Chrysler (FCA) would go ahead as planned and yield synergies of at least 3.7 billion euros ($4.2 billion).
7. Carnival seeks first leveraged loan to shore up liquidity. US cruise line operator Carnival is looking to raise its first leveraged loan as it seeks alternative forms of liquidity to aid its business, which has been sunk by the coronavirus pandemic.
8. Google is launching an Apple News rival and has struck deals with publishers to pay for articles. Google announced on Thursday it will be launching a rival to Apple News.
9. Earnings coming in. Nitori Holdings 1Q 2021 earnings are due and Nike's Q4 2020 earnings are due.
10. Economic data releases today. The Fed's Kaplan speech and US Bank Stress Test Info are due.