Here is what you need to know.
Trump gives a healthcare ultimatum. President Donald Trump told House Republicans either pass the American Health Care Act on Friday, or Obamacare stays. House GOP leadership is expected to bring the bill to a vote on Friday after Thursday’s vote was postponed.
European PMIs beat again. Markit eurozone PMI hit 56.7 in March, its best reading in almost six years, according to IHS Markit data released on Friday.
Russia cuts rates. The Central Bank of Russia unexpectedly lowered its key interest rate 25 basis points to 9.75% as “inflation declines [were] ahead of forecast.”
Saudi Arabia is in ‘serious discussions’ with the NYSE for what could be the biggest IPO ever. “Our objective is to try to complete the IPO sometime in 2018,” Saudi Foreign Minister Adel al-Jubeir told Fox News. “
There are serious discussions with the New York Stock Exchange about having the NYSE be one of the exchanges for the Aramco IPO and I believe the decision will be made on the financial merits.”
A Chinese dairy stock suddenly crashed 85%. Shares of Huishan Dairy crashed 85% in a matter of minutes Friday in Hong Kong, wiping away $US4.1 billion in market value.
Deutsche Bank is planning a new London headquarters. The German investment bank isn’t letting Brexit deter it from taking steps towards securing a 25-year lease for a new London headquarters. Meanwhile, rivals Goldman Sachs and Morgan Stanley have already said they would begin moving jobs out of the city.
GameStop is shutting down stores. The video game retailer reported comparable sales slumped 16.3% year-over-year in the fourth quarter and said it expects to close 2%-3% of stores worldwide later this year. Shares were down as much as 8% in Thursday’s after-hours session.
Stock markets around the world are mixed. Japan’s Nikkei (+0.9%) was out front in Asia and France’s CAC (-0.5%) lags in Europe. The S&P 500 is set to open little changed near 2,345.
Earnings reports trickle out. Finish Line reports ahead of the opening bell.
US economic data picks up a bit. Durable goods orders will be released at 8:30 a.m. ET before Markit US manufacturing and services PMIs cross the wires at 9:45 a.m. ET. The Baker Hughes rig count is due out at 1 p.m. ET.
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