Here is what you need to know.
- The Fed dims its outlook for the US economy. The central bank on Wednesday held its benchmark interest rate unchanged in a range between 2.25% and 2.5% and said that it expected no rate hikes this year and that it would end its balance-sheet tapering in late September.
- Britain is on the brink of a no-deal Brexit. On Thursday, Prime Minister Theresa May is expected to request a three-month delay to Brexit, something the European Union has already denied, meaning the UK is on track to leave the EU without a deal on March 29.
- The FBI is entering the investigation of Boeing’s 737 Max plane. The FBI will be investigating how Boeing’s 737 Max was certified to fly, according to The Seattle Times.
- Levi Strauss is going public. The jeans maker is set to go public for the second time in its history on Thursday after pricing its initial public offering at $US17 a share – above the $US14 to $US16 that was expected.
- A $US3 billion investment chief shares his plans for playing Lyft’s IPO. Jack Ablin, the chief investment officer at Cresset Capital Management, breaks down the strategies that traders are likely to use around the IPO and what his firm plans to do.
- A Tesla analyst who toured its factories reveals what he saw. “It was jaw-dropping in how efficient that process has now become in the tent,” the Wedbush analyst Dan Ives told Markets Insider, referring to the Model 3 sedans being produced underneath a giant tent at the Fremont factory. “This is not a company that’s slowing down production.”
- Indonesia’s Lion Air is working on an IPO. The airline is seeking a $US1 billion domestic IPO, according to Reuters.
- Stock markets around the world were mixed. Hong Kong’s Hang Seng (-0.85%) led the losses in Asia and Britain’s FTSE (+0.39%) was out front in Europe. The S&P 500 was set to open down 0.17% near 2,819.
- Earnings reporting is light. Darden Restaurants reports ahead of the opening bell and Nike releases its quarterly results after markets close.
- US economic data trickles out. The Philly Fed and initial claims will both be released at 8:30 a.m. ET. The US 10-year yield was down 1.3 basis points at 2.51%.
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