SEVERE WX : Red Flag Warning - Air Quality Alert View Alerts

Trade fears ease; Big pharma deal; Facebook under scrutiny

1. Trade fears ease: Global markets were firmly higher following signs that the United States and Ch...

Posted: Mar 27, 2018 11:42 AM
Updated: Mar 27, 2018 11:42 AM

1. Trade fears ease: Global markets were firmly higher following signs that the United States and China were pulling back from the brink of a potential trade war.

US stock futures were pointing higher on Tuesday.

The Dow spiked 669 points, or 2.8%, on Monday -- its third-biggest point gain on record. The Nasdaq gained 3.3% and the S&P 500 climbed 2.7%.

The upbeat mood in the markets marks a sharp reversal from last week, when fears over a trade war caused major losses.

"Trade relationships remain the dominant market driver, with market confidence skating on thin ice," said Joshua Mahony, a market analyst at IG.

CNNMoney's Fear & Greed index shows that "extreme fear" continues to drive investors.

2. Big pharma deal: GlaxoSmithKline will buy Novartis' stake in a consumer health joint venture the two formed in 2014. The $13 billion deal will give GSK 100% ownership of the business.

The announcement comes less than a week after GSK dropped its bid to buy Pfizer's consumer healthcare business. Shares in GSK jumped 3.5% in London after the announcement.

Novartis said divesting from the venture will enable it to focus on the development and growth of its core businesses. Its shares were trading 1.7% higher.

3. Facebook data scandal saga: Facebook shares dropped as much as 5% on Monday after the Federal Trade Commission confirmed it is currently investigating the company's data practices.

A late upswing erased those losses, however.

Facebook is struggling to cope with the fallout from the Cambridge Analytica data scandal. CEO Mark Zuckerberg is facing calls to testify before Congress.

Former Cambridge Analytica contractor Christopher Wylie will appear before a British parliamentary committee on Tuesday.

4. Global market overview: European markets were higher in early trading, following a positive trading session Asia. Japan's Nikkei was the biggest winner, gaining over 2.6%.

US oil futures were 0.2% higher at $65.70 per barrel.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

5. Earnings and economics: McCormick is set to release earnings before the open. Sonic will follow after the close.

Retailer lululemon athletica will also report after the close. The company could face tough questions: Its CEO resigned in February after Lululemon claimed he "fell short" of its standards of conduct.

Shares in H&M declined 6.7% in Stockholm after the Swedish fashion retailer reported a drop in its first quarter profit. The company blamed unusually cold weather for sluggish sales.

The Confidence Board will publish its US consumer confidence report for March at 10 a.m. ET. Last month it was at the highest level since 2000.

Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!

6. Coming this week:
Tuesday - Lululemon earnings; US consumer confidence
Wednesday - Blackberry, Gamestop and Walgreens Boots Alliance earnings; US fourth-quarter GDP final look
Thursday - Constellation Brands earnings; UK fourth-quarter GDP final look; US personal spending and consumer sentiment
Friday - US markets closed for Good Friday

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 224547

Reported Deaths: 2877
CountyCasesDeaths
Multnomah42425618
Washington28176259
Marion24842333
Clackamas20349243
Lane15401176
Jackson13240160
Deschutes1074187
Umatilla988394
Linn644882
Yamhill515882
Klamath498279
Douglas479594
Polk440457
Josephine438076
Malheur370967
Benton354822
Jefferson252842
Coos241040
Columbia213732
Union175924
Wasco160631
Lincoln159122
Crook144724
Hood River128934
Morrow125017
Clatsop123711
Baker116018
Curry86512
Tillamook7985
Grant5657
Lake4868
Harney46611
Wallowa2486
Gilliam881
Sherman872
Wheeler491
Unassigned00

California Coronavirus Cases

Data is updated nightly.

Cases: 4003787

Reported Deaths: 64620
CountyCasesDeaths
Los Angeles131165624721
Riverside3112424667
San Bernardino3095025265
San Diego3011003805
Orange2856205146
Santa Clara1245862183
Sacramento1178311790
Kern1143421428
Fresno1057321746
Alameda980131290
Ventura845891046
Contra Costa78084836
San Joaquin776151461
Stanislaus666191097
Tulare50731854
San Mateo45255588
Monterey44651528
San Francisco41758565
Solano36525261
Santa Barbara36106469
Sonoma33414331
Merced33321485
Imperial29333746
Placer25624307
Kings23790251
San Luis Obispo22356267
Madera17220249
Santa Cruz16779207
Yolo15149215
Marin15039243
Butte13523205
Shasta13179242
El Dorado11312121
Napa1055282
Sutter10343127
Yuba712950
San Benito632664
Tehama592766
Lassen590526
Nevada568575
Humboldt535154
Mendocino485652
Tuolumne469173
Lake440866
Amador395348
Siskiyou259640
Glenn248127
Colusa238118
Calaveras235658
Del Norte174710
Inyo148238
Mono13395
Plumas7926
Modoc5767
Mariposa5377
Trinity4696
Sierra1370
Alpine910
Unassigned810
Medford
Partly Cloudy
67° wxIcon
Hi: 84° Lo: 59°
Feels Like: 67°
Brookings
Partly Cloudy
52° wxIcon
Hi: 76° Lo: 54°
Feels Like: 52°
Crater Lake
Clear
67° wxIcon
Hi: 64° Lo: 52°
Feels Like: 67°
Grants Pass
Partly Cloudy
67° wxIcon
Hi: 83° Lo: 62°
Feels Like: 67°
Klamath Falls
Partly Cloudy
50° wxIcon
Hi: 74° Lo: 53°
Feels Like: 50°
Smoky skies and spotty Thursday thunderstorms
KDRV Radar
KDRV Fire Danger
KDRV Weather Cam

Community Events