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Here are five things you must know for Monday, Sept. 9: 

1. -- Stock Futures Rise on Bets for Central Bank Stimulus

U.S. stock futures were up modestly Monday as investors bet on near-term stimulus from the world's biggest central banks to offset slowing trade and manufacturing activity.

China's central bank cut the ratio of cash banks must hold on their balance sheets for the seventh time in less than two years late Friday, a move that came just ahead of trade data for August that showed a slump in overall exports, particularly to the United States, amid the trade war between the world's two largest economies.

The European Central Bank, meanwhile, is expected to reveal a major stimulus effort later this week, and risk sentiment received a boost from Federal Reserve Chairman Jerome Powell, who vowed Friday to "act as appropriate" on interest rates in order to "sustain the expansion" of the world's biggest economy.

Contracts tied to the Dow Jones Industrial Average rose 48 points, futures for the S&P 500 were up 6.70 points, and Nasdaq futures gained 14.25 points.

Oil prices were higher Monday after Saudi Arabia replaced its powerful energy minister Khalid al-Falih, one of OPEC's most respected officials, in a move that could signal an upcoming shift in policy from the world's second-largest producer.

Khalid al-Falih, who has served as the kingdom's energy minister since 2016, will be replaced by Abdulaziz Bin Salman, a half-brother to Saudi Arabia's Crown Prince Mohammed Bin Salman.

Brent crude contracts rose 0.78% to $62.02 a barrel, while West Texas Intermediate contracts, which are more tightly linked to U.S. gas prices, were rising 0.81% to $56.98 a barrel.

The economic calendar in the U.S. Monday is light. The Consumer Price Index and Retail Sales for August will be released later in the week. 

Earnings reports are expected Monday from (CTRP) and Casey's General Stores (CASY) . Reports are expected later in the week from Broadcom (AVGO) , Aurora Cannabis (ACB) , Dave & Buster's Entertainment  (PLAY) , Zscaler (ZS) , Kroger (KR) and GameStop (GME) .

2. -- Apple's 'By Innovation Only' Event Is Tuesday

The big event this week is Apple's  (AAPL)  "By Innovation Only" gathering on Tuesday at which the tech giant is expected to unveil updated iPhone models - each with new cameras - and a host of new products and services.

Besides the iPhone 11, expectations are that Apple could display a new Apple Watch, new Macs and AirPods and disclose more details about Apple TV+ and Apple Arcade. 

The company faces mounting pressure to unveil some meaningful iPhone improvements in order to jazz up flagging sales, according to analysts. 

Deutsche Bank is looking for Apple to pull out a surprise or two at the event, beyond the upgrades and new features that are already widely anticipated in the market, to keep iPhone sales on track.

The event Tuesday begins at 1 p.m. ET at Apple's campus in Cupertino, California. It will be live streamed on YouTube for the first time.  

Apple is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL? Learn more now.

3. -- WeWork's Valuation Reportedly Could Be Cut Further

We Co., the parent of workspace company WeWork, is eyeing a valuation for its initial public offering that could fall below $20 billion as some existing investors push the company to cancel the planned offering, people familiar with the matter told The Wall Street Journal.

Despite plans to begin a roadshow to market the shares as early as Monday, We Co. and its underwriters are planning to hold meetings this week among themselves and with investors to figure out what changes may be needed to lift demand for an IPO, the people said. 

A valuation below $20 billion would be well under the $47 billion mark where We last raised private capital this year, the Journal noted.

The startup faces skepticism among potential public investors over its governance, business model and ability to turn a profit while continuing to grow, according to the Journal. 

Potential investors have been dismayed by co-founder and CEO Adam Neumann's sales of hundreds of millions of dollars of his stock and loans of more than $740 million tied to his shares in the company, according to the Journal and regulatory filings. Neumann controls a majority of the voting rights of the company.

4. -- Boeing Declines After Suspending Testing of 777X Aircraft

Boeing  (BA)  declined in premarket trading after the planemaker suspended testing of its new long-haul 777X aircraft, a setback that comes as the company works to rebound from the crisis surrounding its grounded 737 MAX.

"During final load testing on the 777X static test airplane, the team encountered an issue that required suspension of the test," a Boeing spokesman said in a statement.

A report by the Seattle Times said a cargo door exploded outward during a high-pressure stress test on the ground. These "final load" tests, which are designed to push the aircraft to the breaking point estimated by the manufacturers, are part of the aircraft certification process and are overseen by inspectors from the Federal Aviation Administration.

The 777X was originally scheduled to take its first flight this summer. The date had been pushed back until early 2020 by Boeing due to problems with its General Electric (GE) engine. The plane is meant to replace the 777 and can carry 400 to 425 passengers.

The suspension of the testing for the 777X comes as Boeing is completing changes required by regulators on its 737 MAX, which has been grounded worldwide after two crashes resulted in 346 deaths.

Boeing shares fell 1.01% to $359.35 in premarket trading. 

5. -- JPMorgan Is Close to Winning Lead Role for Saudi Aramco IPO - Reports

JPMorgan Chase (JPM)  is close to winning the lead advisory role for Saudi Aramco's initial public offering, a source familiar with the situation told Reuters.

A final decision is likely to come later this week, the source told Reuters.

Saudi Aramco is the world's largest oil company and the Saudi government's main source of revenue.

The tentative plan is first to list on the domestic Saudi exchange this year, selling perhaps $25 billion worth of shares, then to sell stock in London or New York next year, CNBC reported. The Saudis want a listing as early as November, said people familiar with the situation.

Reuters reported that Aramco was likely to give IPO roles to Citigroup (C) , Goldman Sachs Group (GS) , HSBC Holdings (HSBC) and Samba Financial Bank.

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