Here is what you need to know.
- 2 key Brexit votes are coming. Prime Minister Theresa May plans to hold two important votes this week — Wednesday’s will ask MPs whether they support a no-deal Brexit and Thursday’s will ask whether they support delaying Britain’s exit from the European Union by extending Article 50.
- The UK would get rid of 87% of its tariffs in the event of a no-deal Brexit. The UK would also waive checks at the Irish border, the government confirmed Wednesday.
- Trump’s tax cuts are actually doing what they were intended to do. President Donald Trump’s tax cuts have received criticism for giving US corporations cash to buy back their own shares, but Goldman Sachs says companies are also using that money to invest in growth.
- Boeing has lost $40 billion of market value this month. Shares have sunk nearly 15% from their March 1 close, with 11% of that coming after Sunday’s Ethiopian Airlines disaster — the second crash involving a Boeing 737 Max 8 in five months.
- One expert has formulated the perfect risk-free hedge for Boeing’s stock. Vinay Viswanathan, a derivatives strategist at Macro Risk Advisors, recommends a capped-risk-reversal options strategy to limit further losses in Boeing shares.
- Elon Musk approves all Tesla hires. Leaked emails seen by Business Insider said that "all headcount requests from the business must get Elon approval."
- A private-equity exec was put on leave after being charged in the college-admissions scandal. The private-equity firm TPG has placed Bill McGlashan, the founder of its TPG Growth and the Rise Fund, on leave after he was indicted by the FBI in connection to a scheme to get students into elite colleges.
- Stock markets around the world are mixed. China’s Shanghai Composite (-1.09%) trailed in Asia, and France’s CAC (+0.19%) led in Europe. The S&P 500 was set to open up 0.15% near 2,796.
- Earnings reports trickle out. MongoDB reports after the closing bell.
- US economic data keeps coming. PPI and durable-goods orders will cross the wires at 8:30 a.m. ET, and construction spending will be released at 10 a.m. ET. The US 10-year yield was up 1.8 basis points at 2.62%.
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