Updated from 7:11 a.m. EDT
Here are 10 things you should know for Monday, March 10:
1.-- U.S. stock futures were pointing to a flat start for Wall Street on Monday and Asian stocks declined on weak trade data from China and
Asian stock markets sank Monday, battered by weak Chinese trade and a reduced estimate for Japan's economic growth.
European markets were mostly higher.
2.-- The economic calendar in the U.S. on Monday is bare.
3.-- U.S. stocks on Friday finished mixed as investors weighed a better U.S. jobs report for February against rising tensions in Ukraine.
The Dow Jones Industrial Average rose 0.19% to close at 16,452.72, while the S&P 500 gained 0.05% to 1,878.04, a record high. The Nasdaq fell 0.37% on Friday to finish at 4,336.22. The Dow, S&P and Nasdaq climbed 0.8%, 1% and 0.65%, respectively, last week.
The jet disappeared well into its flight Saturday morning over the South China Sea. It could take investigators months, if not years, to determine what happened to the Boeing 777 flying from Malaysia's largest city of Kuala Lumpur to Beijing, The Associated Press reported. "At this early stage, we're focusing on the facts that we don't know," said Todd Curtis, a former safety engineer with Boeing who worked on its 777 wide-body jets and is now director of the Airsafe.com Foundation. 5.-- Chiquita (CQB) agreed to buy Irish rival Fyffes in an all-stock transaction that values Fyffes at $526 million.
The merger will create the biggest supplier of bananas. The combined company will have annual revenue of about $4.6 billion. The merger is expected to be completed by the end of 2014.
6. -- Norwegian Air was expected to have four Boeing (BA) 787 Dreamliners delivered this spring but delivery may now be delayed for a few weeks after Boeing reported finding some wing cracks, daily newspaper Aftenposten said on Monday, Reuters reported. Boeing said last week that "hairline cracks" had been discovered in the wings of about 40 787 Dreamliners that are in production.
Boeing shares fell 1.2% to $127.05 in premarket trading on Monday. 7. -- McDonald's (MCD) is expected on Monday to report same-store sales for February.
Analysts at Deutsche Bank expected the fast-food giant to post global same-store sales of negative 0.6% for the month.
8. -- Urban Outfitters (URBN) is expected by analysts after Monday's closing bell to report fiscal fourth-quarter earnings of 56 cents a share. 9. -- Classified Ventures, a group of newspaper publishers, has put the cars.com online marketplace up for sale for as much as $3 billion, hoping to cash in on booming values for e-commerce sites, The Wall Street Journal reported, citing people familiar with the plans. 10.-- Reckitt Benckiser, the owner of Durex condoms, said it bought the K-Y brand of intimate lubricants from Johnson & Johnson (JNJ) for an undisclosed price.
-- Written by Joseph Woelfel
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