10 things you need to know before the opening bell

Here is what you need to know

  1. The US and China agree to more trade talks. A Chinese delegation led by Vice Premier Liu He, the country’s top trade official and one of President Xi Jinping’s closest allies, will travel to Washington at the end of January to meet with a US team led by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
  2. The British pound jumps after report says Brexit will be delayed. The pound climbed as much as 0.8% versus the dollar to 1.2851 after the Evening Standard reported cabinet ministers said Britain’s exit from the European Union would be delayed past the March 29 deadline.
  3. Oil is on track for its longest winning streak in 30 years.Oil was on track for a 10th straight day of gains Friday, the longest winning streak since futures for the energy component started trading in June 1988.
  4. Goldman Sachs has forumlated a strategy to crush earnings season. The bank has developed an options-trading strategy that has on average returned 24% over a six-day period.
  5. AB InBev is thinking about an IPO of its Asian operations. An initial public offering could raise as much as $US5 billion and value the business at $US70 billion, Bloomberg reports, citing people with knowledge of the matter.
  6. JPMorgan traders and investment bankers are set for a bigger piece of the bonus pie. On average, JPMorgan employees are set to see their bonuses increase by mid-single digits versus a year ago, but equity traders and investment bankers are set to get a bigger share, a person familiar with the matter told Business Insider.
  7. Macy’s got slammed after lowering guidance due to a disappointing holiday season. Shares of the retailer fell more than 17% Friday after the company slashed its annual profit guidance to between $US3.95 and $US4 a share, down from between $US4.10 and $US4.30, following a disappointing holiday season.
  8. Stock markets around the world were mixed. Japan’s Nikkei (+0.97%) led the gains in Asia and Germany’s DAX (-0.18%) lags in Europe. The S&P 500 was set to open down 0.26% near 2,590.
  9. Aphria reports ahead of the opening bell. The cannabis producer was expected to earn $US0.02 a share on $US28.8 million of revenue.
  10. US economic data is light. CPI will cross the wires at 8:30 a.m. ET. The US 10-year yield is down 3.2 basis points at 2.71%.

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