10 things you need to know before the opening bell

Vegetable vendorReuters/Francis Mascarenhas

Here is what you need to know. 

  1. The UK is at a Brexit deadlockMembers of Parliament on Monday rejected nonbinding plans to remain in the European Union Customs Union, to remain in the European single market, to hold a second referendum on Britain’s exit from the EU, and to revoke Article 50. That means the UK is on track to leave the EU without a deal on April 12.
  2. Saudi Aramco is printing moneyThe Saudi oil giant made $111.1 billion in profits last year, more than Apple, Amazon, and Alphabet combined, according to Moody’s.   
  3. Bitcoin shoots above $5,000The cryptocurrency gained as much as 23% Tuesday morning, climbing above the $5,000 mark for the first time since November. It’s since given up a portion of its gains and has been trading up 16% near $4,774.
  4. Tech stocks are headed for a rude awakening“Despite a higher rate of companies missing EBIT margin estimates in 4Q amid slowing demand, management teams have remained positive,” said Mike Wilson, Morgan Stanley’s US equity strategist. “It would seem to us that management teams are not yet acknowledging a rising risk of margins disappointing.”
  5. The FAA expects a Boeing 737 Max fix in the next few weeks“The FAA will not approve the software for installation until the agency is satisfied with the submission,” the Federal Aviation Administration said Monday.
  6. Lyft sinks below its IPO priceShares plunged nearly 12% on Monday to $69.01 apiece, finishing well below Friday’s initial-public-offering price of $72.
  7. Slack is reportedly going to direct list on the New York Stock ExchangeThe workplace-messaging platform is said to be planning an NYSE debut in June or July, according to The Wall Street Journal.
  8. Stock markets around the world are mostly higherHong Kong’s Hang Seng (+0.21%) paced the gains in Asia, and Britain’s FTSE (+0.6%) is out front in Europe. The S&P 500 is set to open little changed near 2,866.
  9. Earnings reporting is lightWalgreens Boot Alliance reports ahead of the opening bell, and GameStop releases its quarterly results after markets close.
  10. US economic data keeps coming. Durable-goods orders will be released at 8:30 a.m. ET, and US auto sales will cross the wires throughout the day. The US 10-year yield was down 2.9 basis points at 2.47%.