Here is what you need to know.
Lawmakers have reached a tentative deal to avoid another US government shutdown. The provisional deal would provide $1.375 billion for border fortification, made from vertical steel slats rather than a solid wall, according to multiple reports.
Global stocks are rallying on the deal. Dow futures jumped 209 points (0.84%), while Japan’s Nikkei popped 2.6%.
Amazon is acquiring the Wi-Fi router company Eero. Eero makes “mesh” routers, which help blanket large spaces with a strong wireless signal. Terms of the deal were not disclosed.
One of Tesla’s largest institutional shareholders halved its stake during the fourth quarter. T. Rowe Price had a 5.2% stake in the electric-car maker as of the end of December, roughly half its earlier stake.
Aurora Cannabis reported lower second-quarter margins as production costs jumped and prices fell. Shares of the Canadian company slumped nearly 5% in premarket trading.
OPEC cuts its demand outlook as US oil output remains robust. In a research report cited by Bloomberg, the cartel of oil producers said it pumped 797,000 fewer barrels per day in January.
Billionaire investor Ray Dalio sat with his idol, the former Fed Chairman Paul Volcker. Volcker laid out 3 principles that guide his worldview in an exclusive interview conducted by Bridgewater Associates.
Goldman Sachs dumps a trade recommendation that’s crushed the market over the past 2 years. The equity strategists say companies with strong balance sheets no longer have an edge over firms with weaker assets.
Economic data is light. The Job Openings and Labor Turnover Survey is due at 10 a.m. ET. Fed Chair Jerome Powell speaks on “Economic Development in High Poverty Rural Communities” in Mississippi at 12:45 p.m.
Earnings reporting continues. Activision Blizzard and TripAdvisor report after the closing bell.
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Source:: Business Insider – Finance