Here are five things you must know for Thursday, March 14:
1. -- Stocks Lower on Report Trump-Xi Summit Won't Take Place in March
U.S. stock futures turned lower on Thursday after a report said a summit between Donald Trump and Chinese President Xi Jinping won't happen in March and was more likely to take place in April.
"We're making great deals, or we're not going to make them at all," Trump said Wednesday. "We're going to go (with) tariffs."
Stocks in the U.S. finished higher Wednesday, with the S&P 500 and Nasdaq closing with gains for a third straight session.
The economic calendar in the U.S. Thursday includes weekly Jobless Claims at 8:30 a.m. ET, Import and Export Prices for February at 8:30 a.m., and New Home Sales for January at 10 a.m.
The retailer said it expects earnings in 2019 of $6.30 to $6.50 a share, below forecasts of $6.64.
Reports are also expected Thursday from Oracle (ORCL - Get Report) , Adobe (ADBE - Get Report) , Ascena Retail Group (ASNA - Get Report) , Ulta Beauty (ULTA - Get Report) , Broadcom (AVGO - Get Report) , Noodles & Co (NDLS - Get Report) , Pivotal Software (PVTL , Tenneco (TEN - Get Report) , Jabil (JBL - Get Report) and Zumiez (ZUMZ - Get Report) .
In the U.K., lawmakers voted narrowly in favor of an amendment that would remove the risk of a so-called no deal Brexit under any circumstance, but the non-binding decision has increased pressure on Prime Minister Theresa May to either extend the March 29 deadline for Britain to leave the European Union or seek alternative plans.
2. -- U.S. Grounds Boeing's 737 MAX 8 JetDonald Trump grounded Boeing's ( BA - Get Report) 737 MAX 8 and MAX 9 planes on Wednesday, following similar decisions from aviation authorities around the world following the deadly crash Sunday of Ethiopian Airlines Flight ET302.
"The safety of the American people, all people, is our paramount concern," Trump said in a statement from the White House. "Any plane currently in the air will go to its destination and thereafter be grounded until further notice. Planes that are in the air will be grounded upon landing at their destination. Pilots will be notified. Airlines have been notified and have agreed with us."
Boeing shares slipped 0.7% in premarket trading Wednesday after closing Wednesday at $377.14, up 0.46%.
"On behalf of the entire Boeing team, we extend our deepest sympathies to the families and loved ones of those who have lost their lives in these two tragic accidents," Boeing CEO Dennis Muilenburg said in a statement immediately following the president's statement. "We are supporting this proactive step out of an abundance of caution. Safety is a core value at Boeing for as long as we have been building airplanes; and it always will be."
Trump's decision came just 24 hours after the Federal Aviation Administration reiterated an earlier statement on the MAX's air worthiness and after he held telephone conversations with Muilenberg.
3. -- Facebook Under Criminal Investigation for Data Deals
A grand jury in New York has subpoenaed records from at least two prominent makers of smartphones and other devices, the Times reported, citing two people who were familiar with the requests. Both companies had entered into partnerships with Facebook, gaining broad access to the personal information of hundreds of millions of its users.
The companies were among more than 150, including Amazon (AMZN - Get Report) , Apple (AAPL - Get Report) , Microsoft (MSFT - Get Report) and Sony (SNE - Get Report) , that had cut sharing deals with social media giant Facebook. The agreements, previously reported in the Times, let the companies see users' friends, contact information and other data, sometimes without consent. Facebook has phased out most of the partnerships over the past two years, the Times noted.
"It has already been reported that there are ongoing federal investigations, including by the Department of Justice," a Facebook spokeswoman told TheStreet in response to queries about the report. "As we've said before, we are cooperating with investigators and take those probes seriously. We've provided public testimony, answered questions, and pledged that we will continue to do so."
The Times said it wasn't clear when the grand jury inquiry began or exactly what it was focusing on. Facebook already was facing scrutiny by the Federal Trade Commission and the Securities and Exchange Commission.
The news follows reports on Wednesday of bugs in Facebook and Instagram service.
4. -- Tesla's Model Y Unveiling Is Thursday
There will be a live stream of the unveiling.
CEO Elon Musk tweeted on March 1 that the "Model Y, being an SUV, is about 10 percent bigger than Model 3, so will cost about 10 percent more & have slightly less range for same battery.
The Model Y reportedly won't have the "Falcon Wing" doors that are found on Tesla's bigger SUV, the Model X. Musk previously had hinted that it might.
Tesla got a second slap from an investment bank in as many days Wednesday after Goldman Sachs cut its price target for the company's stock, citing anticipated weaker demand for its higher-priced electric car models that it feels will negatively impact earnings.
In a note to clients, Goldman analyst David Tamberrino said he is maintaining his sell rating on the stock and reducing his 12-month price target to $210.
Shares of Tesla closed Wednesday at $288.96 and were up 0.5% in premarket trading Thursday.
Goldman's price-target cut came on the heels of a similar negative report from Morgan Stanley, which told its clients it sees Tesla "hitting an air pocket in demand that is coming earlier than we expected."
5. -- Uber's Self-Driving Unit Close to Getting $1 Billion of Financing
Uber Technologies reportedly is closing in on a $1 billion-plus financing deal for its self-driving car unit, a move that could give Uber a critical boost as it gears up to go public this spring.
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