10 things you need to know before the opening bell

Here is what you need to know.

Trump is considering reentering the TPP. President Donald Trump directed Larry Kudlow, his top economic adviser, and Robert Lighthizer, the US trade representative, to reenter negotiations to get the US back into the Trans-Pacific Partnership, Republican Sen. Ben Sasse told reporters Thursday.

China just recorded a shock trade deficit. China recorded a trade deficit of $US4.98 billion in March, well shy of the $US27.21 billion surplus that was expected. The data was most likely distorted by the timing of the Lunar New Year.

Australia’s central bank explains why everyone should be worried about a sudden rise in bond yields. The Reserve Bank of Australia warns current asset valuations, which are reliant on global bond yields staying low, are “elevated relative to history.”

Oil hits its best level in over three years. West Texas Intermediate crude oil trades up 0.37% at $US67.41 a barrel, its highest since December 2014.

Earnings season kicks off. Citigroup, JPMorgan, and Wells Fargo all report ahead of the opening bell.

Stocks are about to shatter a postcrisis record – and most of Wall Street could be caught off guard. JPMorgan is expecting strong corporate earnings and record buybacks to be announced this earnings season.

Tesla fires back at NTSB over the investigation into fatal Autopilot crash, says it will complain to Congress.The electric-car maker and the National Transportation Safety Board are involved in a dispute over the investigation of a fatal Autopilot crash that occurred in March.

Sears is closing its last Chicago store after 80 years in business. “For more than 120 years, Sears has called Illinois home and that is not changing,” the spokesman Howard Riefs told the Chicago Tribune. “Although we are disappointed by this last store closure in Chicago, by no means does this change our commitment to our customers and presence to Chicago’s residents.”

Stock markets around the world are higher. Japan’s Nikkei (+0.55%) led the gains in Asia, and Germany’s DAX (+0.56%) is out front in Europe. The S&P 500 is set to open up 0.21% near 2,669.

US economic data flows. Both Jolts Job Openings and University of Michigan consumer confidence will be released at 10 a.m. ET. The US 10-year yield is down 1 basis point at 2.83%.

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