Putin wins another term. Russian President Vladimir Putin won a landslide re-election Sunday, and will remain in office until at least 2024.
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10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, AAPL)
This is what traders are talking about.
China nominates a new central bank head. American-trained economist Yi Gang has been selected to become the next head of the People’s Bank of China, according to the Wall Street Journal, citing people with knowledge of the matter.
A ‘wall of money' is pouring into the stock market but it’s still struggling. Equity funds absorbed a record $43.3 billion of inflows over the past week, but that’s "at odds with lackluster cross-asset returns," BAML chief investment strategist Michael Hartnett wrote in a note.
The Fed is stuck in a trap of its own making. Wall Street thinks Fed Chairman James Powell could move toward holding press conferences at every policy meeting, but the market may interpret that as a signal more aggressive interest rate hikes are coming so he might have to wait until later this year to make the announcement.
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Millennials are finally moving out of their parents' basements. The most recent US Census Bureau report showed the homeownership rate is increasing and the largest gains are in the under 35 cohort, JPMorgan says.
Apple is developing own MicroLED screens. Apple has made a huge investment in the screens, which are being developed at a secret plant in California, Bloomberg reports.
Spotify is hemorrhaging money and it needs to become Netflix to stop the bleeding. Spotify's public filings revealed the company is spending most of its money on fees for licensed content and music royalties, and Duncan Davidson, a general partner at venture capital firm Bullpen Capital, says the company needs to become its own music label to fix its biggest problem.
Black Panther wins the box office — again. Disney/Marvel's "Black Panther" raked in $27.02 million at the domestic box office this past weekend, according to boxofficepro, making for the first time since Avatar (2009) that a movie has been atop the list for five straight weeks.
Stock markets around the world are lower. Japan's Nikkei (+0.9%) lags in Asia and Britain's FTSE (-1.01%) trails in Europe. The S&P 500 is set to open down 0.51% near 2,738.
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Earnings reports trickle out. Oracle reports after the closing bell.
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