10 things you need to know before the opening bell

Here’s what you need to know:

China strikes back at Trump. China’s foreign ministry said the country had no intention of using currency devaluation to its advantage in trade, after President Donald Trump said China is a “grand champion” at manipulating its currency.

Alphabet sues Uber. Waymo, the Google self-driving-car group, alleged that Uber used stolen technology to advance its own autonomous-car development.

Obamacare has never been more popular. A new poll from the Pew Research Center shows that the Affordable Car Act’s
popularity is soaring and has hit its highest point since it was passed.

The Dow could break its historic streak. The Dow Jones industrial average on Thursday closed at a record high for a 10th straight day, the longest stretch since 1987. Futures indicated a lower open ahead of the opening bell.

Oil investors are placing historic bets. Fund managers hold more Brent oil futures and options contracts than at any time on record, equivalent to some 480 million barrels of oil, Reuters reported.

Royal Bank of Scotland loses big. The bank, which is 73% state-owned, said in its full year financial results statement that it lost £6.955 billion in 2016, compared with £1,979 million in 2015.

HP Enterprise’s revenues drops 10%. Sales fell in the first quarter ended January 31 amid sluggish demand for its storage equipment and servers.

Global stock markets are weaker. S&P 500 futures are down about 0.5%. The FTSE 100 in London is off 0.75%, weighed down by earnings from RBS.

Earnings reporting continues. Del Frisco’s and Foot Locker announce ahead of the market open. Warren Buffett will release his annual letter to shareholders on Saturday.

Economic data is light. The University of Michigan’s survey of consumer sentiment and new-home sales will be published at 10 a.m. ET. The 10-year yield is down two basis points at 2.367%.

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