Here is what you need to know.
Donald Trump agrees to meet Kim Jong Un by May. “The leadership of President Trump, who gladly accepted Chairman Kim’s invitation, will receive praise not only from people in the South and the North, but also from people around the world,” South Korean President Moon Jae-in said.
Trump rolls out his tariffs. The tariffs, a 25% tax on imported steel and 10% tax on imported aluminium, will begin in 15 days and has exemptions for Canada and Mexico and for other countries on a case-by-case basis.
Chinese steel and iron ore futures tumble to multimonth lows. Shanghai rebar and Dalian iron-ore futures both fell more than 4% Friday to their lowest level since November 21.
The jobs report is coming. The US economy is expected to have added 205,000 nonfarm jobs in February as the unemployment rate slipped to 4%, according to economists surveyed by Bloomberg. Average hourly earnings are expected to have increased 2.8% versus a year ago.
Goldman Sachs says a new ‘scenario worth worrying about’ could cause the next avalanche of selling in the stock market. This flash crash and others during the recovery have occurred against the backdrop of a relatively good economy – and that’s the worrying scenario, according to Charles Himmelberg, Goldman Sachs’ cohead of global markets research.
Bitcoin is back below $US9,000. The cryptocurrency trades down 6.2% at $US8,741 a coin.
Toys R Us is reportedly about to liquidate its US assets. The retailer has been unable to reach an agreement with lenders, and a liquidation is the most likely outcome, Bloomberg reports, citing anonymous sources.
Obama is reportedly in advanced negotiations to produce shows for Netflix. Former President Barack Obama is in talks to provide shows that would bring exclusive content from him and the former first lady Michelle Obama to Netflix’s 118 million subscribers, The New York Times says.
Stock markets around the world trade mixed. South Korea’s Kospi (+1.08%) saw solid gains in Asia, and Germany’s DAX (-0.36%) trails in Europe. The S&P 500 is set to open little changed near 2,741.
Earnings reports trickle out. Big lots reports ahead of the opening bell.
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