| Advertisement
Here's what you need to know before the markets open.
1.A fish farmer's stock price has skyrocketed more than 2,500% in a year, and nobody really knows why. International Holdings Co. PJSC, an Abu Dhabi-based holding company, has brushed off the coronavirus pandemic and the oil-price crash to grow its share price from below one dirham (27 cents) a year ago to about 27 dirhams ($7.35). 2. A day trader who bought hundreds of oil contracts was told he owed $9 million after a trading platform issue meant it failed to show oil's historic plunge below $0. A day trader who bought hundreds of oil futures contracts during its historic price crash last month was told he owed $9 million after a technology issue prevented his trading platform from displaying negative oil prices, according to a report from Bloomberg 3. Goldman Sachs says global oil demand will bounce back but could be hit hard by the lack of business travel. Goldman Sachs is predicting a V-shaped bounce back in oil demand but expects the fuel to face a beating from a loss in business travel. 4. Marriott quarterly profit dives 92% on decline in bookings. Marriott International Inc on Monday reported a 92% slump in profit for the first quarter, as bookings plunged due to coronavirus-led travel restrictions. 5. BA owner says burning cash, quarantine plan will make it worse. British Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said on Monday, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals. 6. Tesla made good on Elon Musk's threats and sued a California county over the closure of its factory. Tesla has filed a lawsuit against Alameda County in California, where Tesla's Fremont factory is based. 7. ECB sees no "business case" for digital currency yet: Mersch. The European Central Bank currently sees no "business case" for launching its own digital currency but is looking at how one would work should that change, ECB board member Yves Mersch said on Monday. 8. Stocks are mixed. In Asia, Hong Kong's Hang Seng rose 1.21%, the Nikkei 225 rose 1.29%, China's Shanghai Composite rose 0.83%. In Europe, The Eurostoxx 50 fell 0.71%, Germany's Dax fell 0.60% and the FTSE 100 fell 0.34%. In the US, futures underlying the Dow Jones Industrial Average fell 0.54%, the S&P 500 fell 0.54% and the Nasdaq 100 fell 0.31% as of 7:37 a.m. ET. 9. First-quarter earnings coming in. Uber and Audi are highlights.
10. Economic data releases today. USA's 3-month bill and 6-month bill auction.
| 