Here is what you need to know.
- Theresa May could cancel a 3rd vote on her Brexit deal. A vote will only happen if the government is “confident” it will pass, according to Chancellor Phillip Hammond.
- Car-loan payments hit a 10-year high. America’s love for sport-utility vehicles and trucks has helped propel the average vehicle price to more than $US36,000.
- There are ‘clear similarities’ between the 2 Boeing 737 Max planes that crashed. Data from the black boxes of the doomed Lion Air and Ethiopian Airlines flights show “clear similarities,” said Ethiopian transport minister Dagmawit Moge.
- Worldpay is getting bought by FIS in a $US43 billion deal. The deal will pay Worldpay shareholders a combination of cash and stock, and includes debt.
- Lyft kicks off its IPO roadshow. The ride-sharing company is seeking a $US23 billion valuation as it pitches investors its initial public offering this week, Reuters reports, citing people familiar with the matter.
- Tesla isn’t trading like it used to. “For the past several years Tesla’s stock has behaved like an emerging growth company, where mgmt can invent their own milestones, meet these, and the stock would behave positively,” Roth Partners analyst Craig Irwin wrote. “Investors have now appropriately shifted focus to unit volumes, margins, and a practical assessment of the addressable market, in our view.”
- Ford’s CEO raked in $US17.7 million in 2018.Ford CEO Jim Hackett took home $US17.7 million of total compensation in 2018, up 6% year-over-year, despite the automaker’s profits dropping by more than 50%.
- Stock markets around the world were higher. China’s Shanghai Composite (+2.85%) led the gains in Asia and Britain’s FTSE (+0.63%) was out front in Europe. The S&P 500 was set to open up 0.13% near 2,826.
- Earnings reporting is light. Overstock reports ahead of the opening bell and Tilray releases its quarterly results after markets close.
- US economic data trickles out. NAHB home prices will be released at 10 a.m. ET. The US 10-year yield was little changed near 2.59%.
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