AT&T, Netflix, American and Boeing - 5 Things You Must Know Monday

Stock futures rise as some progress is made on reaching a U.S. fiscal package before the presidential election; Tesla, Netflix and AT&T are earnings highlights this week; American Airlines will fly Boeing 737 MAX jets before year-end.
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Here are five things you must know for Monday, Oct. 19:

1. -- Stock Futures Rise as Progress Made in Stimulus Talks

Stock futures were higher Monday on indications some progress was made on pushing through a U.S. fiscal package before the Nov. 3 presidential election.

Contracts linked to the Dow Jones Industrial Average rose 198 points, S&P 500 futures were up 28 points and Nasdaq futures gained 130 points.

After weekend negotiations with Treasury Secretary Steven Mnuchin, House Speaker Nancy Pelosi set a deadline of Tuesday for settling on terms of a relief package if there is any hope of sealing an agreement before the election.

Pelosi said the 48-hour deadline from Saturday "only relates to if we want to get it done before the election, which we do.

"We’re saying to them, we have to freeze the design on some of these things - are we going with it or not and what is the language? I’m optimistic, because again we’ve been back and forth on all this,” Pelosi told ABC News.

The S&P 500 rose Friday for the first day in four but still managed to post a gain for the week - the index's third straight weekly gain.

Stocks in Shanghai declined Monday but Asian shares finished mostly to the upside after China reported that its economy grew at a 4.9% annual pace in the last quarter. China's National Bureau of Statistics said industrial production rose 6.9% in September, while retail sales rose 3.3%.

2. -- Tesla, Netflix and AT&T Highlight This Week's Earnings Calendar

Halliburton  (HAL) - Get Report reported third-quarter adjusted profit of 11 cents a share, beating analysts' estimates by 3 cents, but revenue of $2.98 billion fell 46% from a year earlier and came in below forecasts.

Earnings reports are also expected Monday from International Business Machines  (IBM) - Get Report, Steel Dynamics  (STLD) - Get Report and PPG Industries  (PPG) - Get Report.

Later in the week, reports will be issued by Tesla  (TSLA) - Get Report, Netflix  (NFLX) - Get Report, AT&T  (T) - Get Report, Verizon Communications  (VZ) - Get Report, Intel  (INTC) - Get Report, Lockheed Martin  (LMT) - Get Report, Procter & Gamble  (PG) - Get Report, Philip Morris International  (PM) - Get Report, American Express  (AXP) - Get Report, Snap  (SNAP) - Get Report, Abbott Laboratories  (ABT) - Get Report, Chipotle  (CMG) - Get Report, Coca-Cola  (KO) - Get Report, American Airlines  (AAL) - Get Report and Southwest Airlines  (LUV) - Get Report.

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The economic calendar in the U.S. Monday includes the National Association of Home Builders' Housing Market Index for October at 6 a.m. ET.

Federal Reserve Chairman Jerome Powell has a speech planned via webcast for 8 a.m. on cross-border payments and digital currencies at the International Monetary Fund Annual Meeting.

3.-- American Airlines Plans Return of 737 MAX Before Year-End

American Airlines plans to let customers take trips on its Boeing  (BA) - Get Report 737 MAX jets as early as this year - more than 18 months after the jets were grounded.

If Boeing gets all needed federal approvals as planned, the airline will begin passenger flights on the MAX jets just days after Christmas, American said in a statement. Customers will be able to book flights on the aircraft as early Oct. 24.

"Based on the current plan, flights beginning Dec. 29 will be the first flights for paying customers," an American Airlines spokeswoman told TheStreet.

The Boeing jets - which have been grounded since March 2019 following two fatal accidents - could win recertification from the Federal Aviation Administration as early as November, according to Reuters. But officials told the news service on Sunday it “will lift the grounding order only after FAA safety experts are satisfied that the aircraft meets certification standards.”

4. -- Ant Group Gets Approval From China for Hong Kong Leg of IPO

Ant Group, the financial technology company that is 33% owned by Alibaba  (BABA) - Get Report and controlled by billionaire Jack Ma, won a key approval from the China Securities Regulatory Commission for its listing in Hong Kong, paving the way for what could be the world’s biggest initial public offering, Bloomberg reported.

The Chinese regulator gave Ant Group a green light to seek a listing hearing with Hong Kong Exchanges and Clearing Ltd., according to people familiar with the matter. 

Ant Group still has to complete its registration for the Shanghai leg of the IPO.

The company could raise about $35 billion from the dual listing in Hong Kong and Shanghai at a valuation of at least $280 billion, according to Bloomberg..

5. -- Coronavirus - The Latest

The number of confirmed global deaths from Covid-19, the disease caused by the coronavirus, rose to 1.113 million, according to Johns Hopkins University. Confirmed cases of the virus across the world have risen to 39,967,736.

The U.S. death toll is 219,674, the most in the world and nearly 20% of the global total. The number of infected people in the U.S. has risen to 8,154,935.

Coronavirus cases in the U.S. have been averaging more than 50,000 a day.