10 things you need to know before the opening bell

Here is what you need to know.

  1. Here comes the jobs report. The US economy is expected to have added 184,000 nonfarm jobs in December as the unemployment rate held at 3.7%, according to economists surveyed by Bloomberg.
  2. The US and China have agreed to a fresh round of trade talks. Jeffrey Gerrish, the US deputy trade representative who has been mentored by Robert Lighthizer, the US trade representative who is particularly hawkish on China, will lead the US delegation for talks to be held on Monday and Tuesday in Beijing.
  3. China posts some surprisingly strong economic data.The IHS Markit China Composite Purchasing Managers Index hit 52.2 in December, its highest reading in at least five months, according to a report out Friday.
  4. China makes a big move to boost its slowing economy.The People’s Bank of China slashed its reserve requirement ratio by 100 basis points on Friday, freeing up a net 800 billion yuan ($US116.51 billion) of liquidity, Reuters reports.
  5. Stock markets around the world are in rally mode. Hong Kong’s Hang Seng (+2.24%) led the charge in Asia and Germany’s DAX (+1.64%) was out front in Europe. The S&P 500 was set to open higher by 1.46% near 2,484.
  6. The stock market’s top trade has gotten a massive makeover.The so-called momentum trade has undergone a huge shift, and Goldman Sachs lays out how investors can take advantage of the changing tide.
  7. Apple’s stock just plunged, but analysts are saying to hold on for dear life. Apple plunged 10% Thursday, and is now down 40% from its October peak, after the tech giant warned fiscal first-quarter revenue would miss expectations, but the lion’s share of Wall Street analysts still have the stock rated “buy.”
  8. The Fed chairman speaks. Fed Chairman Jerome Powell will speak at the American Economic Association and Allied Social Science Association 2019 Annual Meeting in Atlanta, Georgia, at 10:30 a.m. ET. Former Fed Chairs Ben Bernanke and Janet Yellen will also take part in the joint discussion.
  9. Former Nissan Chairman Carlos Ghosn gets his day in court.He is set to appear next week after requesting an open hearing to hear the reason for his detention, the Japanese news agency NHK reported Friday.
  10. There’s US economic data besides the jobs report.Markit Services PMI will cross the wires at 9:45 a.m. ET. The US 10-year yield was up 5 basis points at 2.60%.

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