10 things you need to know before the opening bell

Here is what you need to know.

  1. China cuts its growth target. China’s central government said Monday that it will target GDP growth of 6% to 6.5%, down from its hard 6.5% target.
  2. The trade war cost Americans $US1.4 billion a month last year. “The entire incidence of the tariffs fell on domestic consumers and importers up to now, with no impact so far on the prices received by foreign exporters,” economists Mary Amiti, Stephen Redding, and David Weinstein wrote in a new study by the New York Federal Reserve, Princeton, and Columbia.
  3. Goldman Sachs finds the stocks that both hedge funds and mutual funds love. The firm identified 13 stocks that are in the good graces of both hedge funds and mutual funds, and says they could deliver super-sized returns.
  4. Papa John’s settles with Papa John. The pizza chain Papa John’s and founder John Schnatter have reached a settlement agreement where Schnatter will dismiss his lawsuit against the company and resign from its board, Bloomberg reports.
  5. Hawaiian Airlines’ stock tumbles as Southwest begins selling tickets to Hawaii. Shares fell nearly 11% Monday after Deutsche Bank analyst Michael Lindberg called the new Southwest route to the island state a “direct threat” to Hawaiian Airlines business model.
  6. Whitney Tilson says Tesla will plunge below $US100 this year.Tilson, the former manager of Kase Capital, said he senses that “the number of investors who are losing confidence in Musk is finally exceeding those who are drinking his Kool Aid.”
  7. Blue Apron is back below $US1. The stock has tumbled more than 27% since Wednesday, when Bessemer Venture Partners sold a block of 15 million shares at an 11% discount to the prior day’s closing price.
  8. Stock markets around the world were higher. China’s Shanghai Composite (+0.88%) led the way in Asia and Britain’s FTSE (+0.38%) was out front in Europe.
  9. Earnings reporting picks back up. Kohl’s and Target report ahead of the opening bell while Ross Stores releases its quarterly results after markets close.
  10. US economic data flows. Markit services PMI will be released at 9:45 a.m. ET before ISM non-manufacturing and new homes sales cross the wires at 10 a.m. ET. The US 10-year yield is up 1.3 basis points at 2.74%.

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