10 things you need to know before the opening bell

Here is what you need to know.

China rewrote its constitution to officially abolish term limits. China has officially passed a constitutional amendment ending term limits for President Xi Jinping, the Associated Press says.

South Korea says it will ‘deploy all possible means’ to fight Trump’s tariffs. The third-largest importer of US steel says that it will do whatever it takes to avoid President Donald Trump’s tariffs and that it has already put in a request for a waiver, Reuters reports.

Chinese iron-ore futures got smoked. The May 2018 contract in Dalian plunged another 3% overnight, running its losses since mid-January to 15%.

Saudi Aramco’s record-breaking IPO is set to be delayed until 2019. Officials trying to secure the listing for the UK have been told the $US2 trillion float has been delayed, according to the Financial Times.

London house prices are falling at the quickest rate since the financial crisis. London home prices fell 2.6% year-over-year in January to an average of £593,396 ($US822,364), a survey released by Acadata showed Monday.

Wall Street is in full agreement about one key element of the stock market – and that could cause the next big meltdown. Much of Wall Street is in agreement that the 10% stock market correction last month was actually healthy for the stock market, but one investment strategist argues that the cleansing effect of the sell-off wasn’t as pronounced as many are making it out to be.

Salesforce is paying $US50 million a year to rent its skyscraper headquarters. The cloud-software company will pay $US774 million over the next 15 1/2 years to rent its new Salesforce Tower in San Francisco, a company filing showed.

‘Black Panther’ tops $US1 billion at the box office.The film became the fifth from the Marvel universe to top the $US1 billion mark globally, Reuters says, citing a Disney estimate of ticket sales.

Stock markets around the world are higher. Hong Kong’s Hang Seng (+1.93%) led the gains in Asia, and Germany’s DAX (+0.69%) is out front in Europe. The S&P 500 is set to open up 0.22% near 2,793.

US economic data trickles out. The monthly budget statement will be released at 2 p.m. ET. The US 10-year yield is up 1 basis point at 2.90%.

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