1. -- Stock Futures Rise as Wall Street Cheers U.S.-China Trade Pact
U.S. Trade Representative Robert Lighthizer told CBS's "Face the Nation" that the agreement, reached after more than two years of negotiations between the world's two biggest economies, was "totally done" and would include the suspension of certain tariffs and the rollback of others in exchange for China's agreement to buy around $200 billion worth of American-made goods, including agricultural, energy and manufacturing products, over the next two years.
China also was said to agree to crack down on key U.S. issues such as intellectual property theft and forced technology transfers as well as work to deepen access to its financial markets.
"Ultimately, whether this whole agreement works is going to be determined by who's making the decisions in China, not in the United States," Lighthizer said. "If the hard-liners are making the decisions we're going to get one outcome, if the reformers are making the decisions - which is what we hope - then we're going to get another outcome."
Tariffs that were set to go into effect on Sunday and which would have applied to $160 billion in China-made goods were suspended under terms of the agreement
Contracts linked to the Dow Jones Industrial Average rose 48 points, futures for the S&P 500 were up 12.05 points and Nasdaq futures gained 40 points.
The S&P 500 and Nasdaq closed at record highs on Friday.
2. -- Manufacturing and Housing Data Are on Monday's Calendar
The economic calendar in the U.S. Monday includes the Empire State Manufacturing Index for December at 8:30 a.m. ET, the PMI Composite Flash for December at 9:45 a.m. and National Association of Home Builders Housing Market Index for December at 10 a.m.
The earnings calendar is light Monday but reports are expected later this week from FedEx FDX, Micron Technology MU, General Mills GIS, Nike NKE, Conagra Brands CAG, Darden Restaurants DRI and BlackBerry BB.
3. -- Boeing Considers Whether to Halt or Cut 737 MAX Production
Boeing BA reportedly is weighing whether to pause or reduce production of its 737 MAX jets, according to a report from The Wall Street Journal.
The company could disclose a decision as soon as Monday, according to the Journal, which cited people familiar with the matter.
The MAX has been grounded since March after deadly crashes in Indonesia and Ethiopia killed a total of 346 people.
When asked for comment, a Boeing spokesman told TheStreet in an email that the company is continuing to work closely with the Federal Aviation Administration and other regulators for the "certification and the safe return to service of the MAX."
"We will continue to assess production decisions based on the timing and conditions of return to service, which will be based on regulatory approvals and may vary by jurisdiction," said Boeing spokesman Charles N. Bickers.
A nearly identical statement was given to the Journal for its story.
But the Journal said Boeing's management increasingly sees halting production "as the most viable among difficult options."
Boeing shares fell 4.08% in premarket trading Monday to $327.73.
4. -- International Flavors to Merge With DuPont's Nutrition Unit
International Flavors & Fragrances IFF reached a deal to merge with DuPont's DD nutrition & biosciences unit in an agreement that creates a company valued at about $45.4 billion.
DuPont shareholders will own 55.4% of the shares of the new company and existing IFF shareholders will own 44.6%.
Upon closing of the deal, DuPont also will receive a one-time cash payment of $7.3 billion.
“The combination of IFF and N&B is a pivotal moment in our journey to lead our industry as an invaluable innovation and creative partner for our customers," said IFF Chairman and CEO Andreas Fibig. "Together, we will create a leading ingredients and solutions provider with a broader set of capabilities to meet our customers’ evolving needs."
Fibig will continue as CEO of the combined company and also will remain as chairman.
IFF shares fell 6.04% to $125.89 in premarket trading. DuPont rose 4.48% to $67.70.
5. -- 'Frozen 2' Is Disney's Sixth Movie to Hit $1 Billion in 2019
Walt Disney's (DIS) - Get The Walt Disney Company Report “Frozen 2” dropped to second place at the box office over the weekend - losing out to “Jumanji: The Next Level” - but the animated film crossed $1 billion globally to become Disney Animation’s third billion-dollar project.
The film also became the sixth movie from the studio to surpass $1 billion in 2019.