Here are five things you must know for Tuesday, April 9:
1. -- Stocks Dip as Investors Prep for Event Risks
U.S. stock futures fell slightly Tuesday and global stocks traded mixed as investors prepped for a series of potential risk events later in the week, as well as the start of the U.S. earnings season, amid questions over the fate of a U.S.-China trade deal and the health of the world economy.
The International Monetary Fund will update its World Economic Outlook report later Tuesday, with analysts expecting notable downgrades for global growth forecasts amid the ongoing trade dispute between Washington and Beijing.
The European Central Bank will hold a rare policy in Frankfurt on Wednesday, the same day the Federal Reserve will release minutes of its March meeting, Investors will be looking to both the ECB and Fed for clues on the next move in the world's two biggest economic blocs, the former of which is flirting on the edge of recession while the later is growing at a 2.1% clip but is facing pressure from Donald Trump to lower interest rates and re-start quantitative easing.
Meanwhile, the Trump administration moved toward imposing tariffs on about $11 billion in imports from the European Union, saying the move was justified by the bloc's subsidies for Airbus, the European aircraft manufacturer. Estimates from the U.S. of $11 billion worth of damage from EU subsidies to Airbus was excessive, an Airbus spokesman told Reuters.
Contracts tied to the Dow Jones Industrial Average declined 6 points, futures for the S&P 500 were down 2.50 points, and Nasdaq futures fell 12.50 points.
Stocks finished mixed Monday, with the Dow declining but the S&P 500 finishing higher, extending its winning streak to eight sessions.
2. -- Levi Strauss Issues First Earnings Report as a Public Company
The economic calendar in the U.S. Tuesday includes the Job Openings and Labor Turnover Survey for February at 10 a.m. ET.
Earnings reports are expected Tuesday from Levi Strauss (LEVI) , its first quarterly earnings report as a public company, WD-40 (WDFC - Get Report) , Lindsay (LNN - Get Report) and PriceSmart (PSMT - Get Report) .
Watch below. Why Levi's is Partnering with Amazon to Become Denim King
3. -- Wynn Makes Takeover Approach to Australia's Crown Resorts
Wynn Resorts (WYNN - Get Report) approached Australia's Crown Resorts (CWLDY) with a A$10 billion ($7.1 billion) takeover offer, Crown Resorts said Tuesday in a statement to the Australian Stock Exchange.
"The discussions between Crown and Wynn are at a preliminary stage," said Crown, which is one of Australia's largest gaming and entertainment companies. "There is no certainty that these discussions will result in a transaction."
Wynn Resorts, the world's No. 2 casino operator, confirmed Tuesday in a filing with the Securities and Exchange Commission that it was talking to Crown Resorts but said it wouldn't comment further.
The deal would offer Wynn a hedge against Macau, the Chinese gambling hub where its licenses are up for renewal, by giving it two lavishly revamped Australian casinos and a third still being built on the Sydney harbor front, Reuters reported.
Crown said Wynn was proposing to buy the company in a cash-and-stock deal. The companies have yet to agree on a value or deal structure, and the current proposal hasn't been sent to the board, the company added, Reuters reported.
Crown Resorts shares rose 19.7% to A$14.05 in Sydney. Wynn shares fell 0.6% to $144.05 in premarket trading.
4. -- Tesla Lays Off More Sales Staff
The company dismissed several dozen sales team members in Chicago; Brooklyn, N.Y.; and Tampa, Fla., Bloomberg reported, citing people familiar with the matter. In February, Tesla said it would close some showrooms and move more sales online.
Tesla confirmed the layoffs but declined to discuss specifics, including the number of personnel affected.
Tesla last week said it delivered just under 51,000 of its flagship Model 3 sedan during the first quarter, well shy of analysts' estimates of 58,900. Overall shipments, which include Model S and Model X cars, fell 31% from the previous quarter to 63,000, Tesla said, even as the company stuck to its forecast of a 2019 delivery range of between 360,000 and 400,000 total vehicles.
5. -- Virginia Wins NCAA Basketball Championship
The Virginia Cavaliers beat the Texas Tech Red Raiders 85-77 in overtime on Monday night, winning the program's first NCAA title.
The win came 388 days after the Cavaliers were the first No. 1 seed to lose to a No. 16 seed, the University of Maryland, Baltimore County, in NCAA tournament history.