Here are five things you must know for Monday, March 12:
1. -- Wall Street Set to Extend Gains
U.S. stock futures pointed to extended gains for Wall Street on Monday, March 12, following a stronger-than-expected U.S. jobs report for February that also showed wage growth was moderating.
Contracts tied to the Dow Jones Industrial Average rose 94 points, while those linked to the broader S&P 500 were up 8.45 points, as the jobs report indicated a modest 0.1% bump in average hourly earnings, suggesting robust economic growth that won't change the Federal Reserve's path of at least three interest rate hikes in 2018.
The Dow Jones Industrial Average closed up 440 points, or 1.77%, to 25,335. The S&P 500 gained 1.74%. The Nasdaq jumped 1.79% to close at a new record high of 7,560.
The economic calendar on Monday is light.
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2. -- DowDuPont's Liveris to Step Down
Andrew Liveris, DowDuPont Inc.'s undefined executive chairman, will step down on April 1 and its co-lead director Jeff Fettig will assume the role, the company confirmed on Monday.
Liveris, 63 years old, will remain a director until July 1. The Wall Street Journal was the first to report that an announcement would come Monday.
Jim Fitterling will serve as CEO of the materials-science company, to be known as Dow, that is expected to be created when the breakup of DowDuPont takes place next year.
The stock rose 0.5% in premarket trading on Monday.
3. -- Intel Downplays Interest in Broadcom
The chipmaker, in a statement to Reuters, said it wouldn't comment on "rumors or speculation," and that its focus was on integrating recent major acquisitions, such as Mobileye and Altera.
The Journal reported on Friday that Intel could make an offer for Broadcom if it looks like Broadcom's hostile bid for Qualcomm Corp. (QCOM) - Get Qualcomm Inc Report -- and by proxy, NXP Semiconductors N.V. (NXPI) - Get NXP Semiconductors NV Report , which Qualcomm is set to acquire -- will succeed. But it's hardly clear just how willing Intel is to seriously pursue a deal for Broadcom in the name of preventing two major rivals from joining forces, wrote TheStreet's Eric Jhonsa.
Broadcom shares rose 3.9% in premarket trading on Monday. Intel fell slightly.
4. -- 'Black Panther' Reaches $1 Billion Globally
"Black Panther" won the weekend again at the box office, taking in $41.1 million in North America, according to studio estimates, and crossed the $1 billion mark worldwide in just 26 days.
5. -- Saudi Aramco IPO Could Be Delayed Until 2019
Saudi Aramco's public listing is unlikely to go ahead this year, according to British officials who have been warned by their Saudi counterparts that the world's biggest flotation was expected to be delayed, the Financial Times reported.
Several people briefed on the talks said London still had a good chance of securing the listing, which Riyadh said could value the state energy company at $2 trillion,. But any foreign flotation was likely to happen in 2019 at the earliest. Saudi Arabia wants to sell 5% of the world's largest oil-producing company as part of an economic reform program.
This has been updated to include fresh stock prices.