UPS Plans $1 Billion Move Into Europe; Stocks Slip on China Data

U.S. stocks were under pressure on Monday morning after China reported a surprise decrease in exports and imports in March. The decline was partly due to the timing of the lunar new year, but also the latest sign the world's second-largest economy is in worse shape than expected. UPS (UPS) shares were on watch on reports it is exploring investing $1 billion in Europe. Last week, competitor FedEx (FDX) made a play for TNT Express to grab better market share on the continent. Apple (AAPL) was slightly higher on estimates it sold 957,000 Apple Watch models on opening day. Netflix (NFLX) rallied after increasing its share authorization to 5 billion.