Here is what you need to know.
- Avengers makes history. Disney’s blockbuster hit “Avengers: Endgame” brought in $US350 million in its first weekend at the US box office, and $US1.2 billion worldwide, making it the biggest opening in movie history.
- Elon Musk settles with the SEC. Tesla’s CEO and the Securities and Exchange Commission have reached an agreement that says all of Musk’s communication through social media, the company’s website, press releases, and investor calls must be preapproved by an “experienced securities lawyer.”
- Amazon is going after the shipping industry.The e-commerce giant has launched a trial version of its online-freight-broker platform, and is undercutting prices by more than 25%, according to the industry news site FreightWaves.
- The grounding of Boeing’s 737 Max will cost airlines hundreds of millions of dollars. Airlines around the world are warning that the grounding of the 737 Max aircraft will cost them hundreds of millions of dollars and analysts say they will all want different forms of compensation from Boeing.
- Lyft had a brutal first month as a publicly traded company.Shares of the ride-hailing company plunged 35% from their opening print on the $US87.24 – here’s everything we know since the company’s stock-market debut.
- Investors are growing more concerned about a stock-market crash. The so-called worry gauge currently sits in its top quintile, and is flashing some eerie parallels to the 1987 crash.
- The socialists win in Spain. The Spanish Socialist Workers’ Party took 29% of the vote and will need to get support from other parties in order to form a government, the BBC says.
- Stock markets around the world were lower. China’s Shanghai Composite (-0.77%) led the losses in Asia and France’s CAC (-0.38%) trailed in Europe. The S&P 500 was set to open little changed near 2,940.
- Earnings season rolls on. Restaurant Brands and Spotify report ahead of the opening bell while MGM Resorts, Texas Roadhouse, and Yum China release their quarterly results after markets close.
- US economic data keeps coming. Personal income and spending will be released at 8:30 a.m. ET and Dallas Fed manufacturing will cross the wires at 10:30 a.m. ET. The US 10-year yield was up 1 basis point at 2.51%.
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