| Advertisement
Here's what you need to know before the markets open. Airline stocks are set to surge after the 'big 4' accepted more than $15 billion in government bailouts. Delta, American, United, and Southwest expect to receive payroll support from the US Treasury. Legendary emerging markets investor Mark Mobius warned that stocks could see a 'double bottom' as the coronavirus lockdown tanks the US economy. "I don't think we're at the absolute bottom yet because the implications of this shutdown are incredible," Mobius said. Burger King's 'plant-based' Whopper ads are banned in Britain for being misleading. The UK's advertising regulator found Burger King falsely promoted a vegan-friendly product which is unsuitable for vegans and vegetarians. The US government is in talks with AI startup Onfido to roll out immunity passports for those recovered from COVID-19. A floated immunity passport would "include test results tied to a person's identity." Ukraine ready to ban wheat exports if necessary. The Eastern European country is ready to ban wheat exports if sales exceed limits agreed with traders. Aramco offers struggling refiners sweeter terms for crude. It has offered oil refineries in Asia and Europe the option to defer payments for crude cargo deliveries by up to 90 days as plants struggle with shrinking demand. UnitedHealth first-quarter profit falls 2.5%. Total revenue rose to $64.42 billion from $60.31 billion. Stocks are down. In Europe, Germany's DAX fell 2%, Britain's FTSE 100 fell 2.1%, and the Euro Stoxx 50 fell 2%. In Asia, China's Shanghai Composite fell 1%, Hong Kong's Hang Seng fell 1.2%, and Japan's Nikkei fell 0.5%. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq fell between 1.4% and 1.9%. Earnings keep coming. Goldman Sachs and Citigroup are two highlights. On the data docket today. MBA Mortgage Applications and the Fed's Beige Book will be released. | 