Here’s what you need to know before the markets open.
1. The Fed bought debt in Warren Buffett’s Berkshire Hathaway, Coca-Cola, Walmart, and McDonald’s in its first spree of corporate bond-buying. The Fed bought $428 million worth of corporate bonds in its first foray into company debt as part of its response to the coronavirus, snapping up debt in household names like Coca-Cola, AT&T, and Berkshire Hathaway in the process.
2. US shale oil giant Chesapeake Energy files for bankruptcy as the coronavirus crisis claims another energy victim. Chesapeake Energy filed for bankruptcy on Sunday, making it the biggest casualty among US energy giants as the coronavirus pandemic upends the oil industry
3. Global stocks are mixed as investors weigh COVID-19 deaths topping 500,000, and markets are hit with a ‘nervous calm’. In Asia, stocks are down. In Europe, stocks are up. In the US, futures are mixed and pointing to an open between -0.2 to 0.4%.
4. Wirecard stock soars 185% in a dead cat bounce after its week from hell, but is still down 97% in 2020. The stricken German fintech’s stock is at around €3.18 on Monday, but was above €140 as recently as April.
5. Facebook has bent its hate speech and misinformation policies around Trump since before he was president, report says. An explosive new report from The Washington Post claims Facebook has weakened its hate speech and misinformation policies because of Donald Trump’s ascent to power.
6. LVMH-backed Australian swimsuit brand in administration due to virus. Seafolly Pty Ltd, an Australian swimsuit maker part-owned by French fashion giant LVMH Moet Hennessy Louis Vuitton SE , appointed administrators on Monday citing a sales downturn from the coronavirus, the latest casualty of the health crisis in the country’s retail sector
7. UK markets watchdog says Wirecard restrictions to stay for now. Britain’s Financial Conduct Authority on Monday said its restrictions on collapsed German payments company Wirecard will remain until its concerns have been satisfied.
8. Nokia wins Taiwan Mobile 5G contract worth $450 million. Finnish telecoms equipment maker Nokia Oyj said on Monday it has won a 5G contract worth about 400 million euros ($449.48 million) from Taiwan Mobile to build out the telecom operator’s next-generation network as the sole supplier.
9. Quarter earnings coming in. IHH Healthcare Bhd (1Q 20) and Micron Technology (3Q 20) earnings are due.
10. Economic data releases today. The US Fed’s William speech and the US 3-Month Bill Auction are due.
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