February 12, 2018

Stocks upswing; Infrastructure plan; Tech put on notice

1. Global stock market overview: Last week was a stomach-churning experience for investors. Good news: This week is off to a better start.

U.S. stock futures were higher on Monday, with major indexes rising by roughly 1%.

European stocks advanced in early trade, with most markets notching gains between 1% and 2%. Most Asian indexes rallied.

2. The Trump infrastructure plan: The White House plans to release its infrastructure proposal on Monday.

President Trump has repeatedly said he wants $1 trillion to go toward repairing and upgrading U.S. infrastructure. He raised the target during the State of the Union. The plan is to combine $200 billion in federal funds with state, local government and private money to reach a $1.5 trillion infrastructure package.

Investors and economists are seeking clarity on how the plan would work.

The White House is also scheduled to release the president's budget proposal on Monday.

3. Earnings: Loews and Restaurant Brands International, the parent company of Burger King, will release earnings before the open.

Shares in Heineken were 3% lower after the European brewer published disappointing results.

Many other food and drinks companies will be releasing earnings later this week, including Pepsi on Tuesday, and Dr Pepper Snapple and Molson Coors on Wednesday.

Coca-Cola, Campbell Soup, Kraft Heinz and Smucker will publish results on Friday.

4. Tech put on notice: Unilever is threatening to pull billions of dollars in advertising from digital platforms that it says have become a "swamp" of fake news, racism, sexism and extremism.

The forceful warning to digital platforms such as Google and Facebook will be delivered at an advertising conference in California on Monday.

"We cannot continue to prop up a digital supply chain ... which at times is little better than a swamp in terms of its transparency," Unilever marketing boss Keith Weed will say.

5. Barclays charge: The U.K.'s Serious Fraud Office has filed a charge of "unlawful financial assistance" against Barclays Bank over loans with Qatar during the global financial crisis.

Last summer, the agency brought charges against parent company Barclays PLC and four executives over the issue.

"Barclays PLC and Barclays Bank PLC intend to defend the respective charges brought against them," the company said in a statement.

6. Coming this week Monday — Restaurant Brands earnings; White House infrastructure and budget plans Tuesday — Earnings from Pepsi, Under Armour and MetLife Wednesday — Earnings from Dr Pepper Snapple, Molson Coors, Cisco, Hilton, Marriott and TripAdvisor; U.S. retail sales and inflation index Thursday — CBS earnings Friday — Earnings from Coca-Cola, Campbell Soup, Kraft Heinz, Smucker, Newell Brands and Deere

Comments

Type your comment here:

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

 
Today's Poll Should the state legislature adopt paid family medical leave?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2017 New England Business Media