US threatens EU with tariffs; Boeing deliveries; Wynn's big bet on Australia

The United States Trade Representative has proposed levies on hundreds of EU exports in retaliation for subsidies allegedly provided to European aircraft maker Airbus (EADSF).

The tariffs would hit EU products ranging from aircraft and their components to wine, cheese and frozen fish.

President Donald Trump will soon decide whether to impose tariffs on cars imported from Europe. The United States has already imposed taxes on European steel and aluminum exports.

2. Boeing to report deliveries: Boeing is set to report the number of planes it delivered during the first quarter on Tuesday.

The company didn't deliver any of its bestselling 737 Max planes in the last two weeks of the quarter. It halted those deliveries after two of the aircraft crashed in less then six months.

Investors will be waiting to see if Boeing forecasts the costs of the grounding and halt of deliveries.

Boeing (BA) doesn't normally give any dollar figures as part of its deliveries report. The company is scheduled to report first quarter results on April 24, and then meet with shareholders April 29.

Shares in Boeing declined 4% on Monday after the company announced plans to slow 737 Max production.

3. Wynn Resorts bets on Australia: Wynn Resorts (WYNN) has approached Crown Resorts with a 10 billion Australian dollar ($7.1 billion) takeover offer, the Melbourne-based company said Tuesday.

The cash and stock offer from Wynn values Crown shares at 14.75 Australian dollars ($10.51) each.

Wynn declined to comment. Shares in Crown spiked 21% in Sydney.

4. Global market overview: US stock futures were pointing lower.

European markets opened mixed. Stocks in Asia also struggled to find direction.

The S&P 500 closed 0.1% higher on Monday, advancing for the eighth consecutive trading session. The Nasdaq gained 0.2%. The Dow was weighed down by Boeing and finished 0.3% lower.

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

5. Earnings and economics: Shares in Sony (SNE) surged 9% in Tokyo after Reuters reported that hedge fund Third Point is building a stake in the company to push it to sell businesses.

The US Bureau of Labor Statistics will release a report on the jobs market in February at 10:00 a.m. ET.

The International Monetary Fund will release its latest World Economic Outlook at 9:00 a.m. ET.

6. Coming this week:
Tuesday — US February JOLTS job openings report; IMF World Economic Outlook
Wednesday — Delta Air Lines (DAL), LVMH (LVMHF) and Bed Bath & Beyond (BBBY) earnings; US March consumer prices; Fed minutes; ECB rate decision; UK GDP and EU summit on Brexit
Thursday — Rite Aid (RAD) earnings; Disney (DIS) investor day; India election polling begins
Friday — JPMorgan Chase (JPM) and Wells Fargo (WFC) earnings; China export data, Britain's current deadline to leave the European Union

Let's block ads! (Why?)