Here is what you need to know.
House Republicans unveiled their Obamacare repeal. The bill, called the American Healthcare Act (AHCA), would eliminate Obamacare’s individual mandate that requires all Americans to buy insurance or face a fine, and features increased premiums for failing to have continuous coverage.
China’s FX reserves grew for the first time since June. China’s reserves grew by $US6.92 billion to $US3.005 trillion during February, according to data released by the People’s Bank of China.
Eurozone GDP was in line. GDP expanded at a 0.4% rate in the fourth quarter, data released on Tuesday by Eurostat showed. Annual growth came in at 1.7%.
UK data disappoints. Home prices and retail sales both missed expectations, pushing the British pound below 1.2200 for the first time in six weeks.
Australia holds rates. The Reserve Bank of Australia held its key interest rate at 1.50%, as expected, and noted that the “Australian economy is continuing its transition following the end of the mining investment boom, expanding by around 2.5% in 2016.” The Australian dollar is stronger by 0.2% at .7595 versus the US dollar.
Snap tumbles below its IPO opening price. Heavy selling on Monday pushed Snapchat’s parent company down more than 12% to $US23.79 per share. The stock is set to open Tuesday’s session lower by more than 2% near $US23.25.
The Nintendo Switch is Nintendo’s fastest selling console ever. Nintendo has sold more Switch consoles in its first two days than any other of its gaming system, according to Nick Wingfield of the New York Times.
Stock markets around the world are mixed. Australia’s ASX (+1.2%) led overnight while France’s CAC (-0.3%) lags in Europe. The S&P 500 is set to open down 0.1% near 2,373.
Earnings reports trickle out. Dick’s Sporting Goods reports ahead of the opening bell and Urban Outfitters releases its quarterly results after markets close.
US economic data is light. The trade balance will be released at 8:30 a.m. ET and consumer credit will cross the wires at 3 p.m. ET. The US 10-year yield is unchanged at 2.50%.
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