Pre-market: what you need to know before the bell



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US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin said China had reneged on earlier pledges over the weekend, hampering progress toward a detailed trade deal.

As of Friday, fines of $ 200 billion in Chinese goods will be increased from 10% to 25%. President Donald Trump also warned that he could tax almost all Chinese exports to the United States.

The big question for investors is whether an agreement can be restored when Chinese officials arrive in Washington later this week. Beijing is still sending its main trade negotiator.

China's stock markets stabilized on Tuesday after a sharp sell-off on Monday. US markets also managed to recover most of their lost ground after a sharp initial fall.

S & P 500 and Dow futures fell about 0.4% on Tuesday. Fears seemed to be waning in Europe and Asia, where stocks were mixed.

2. Hammered BMW: The German automaker reported a sharp decline in profits and set aside funds to pay off a possible EU antitrust fine.

First-quarter profits for BMW fell 78% to € 589 million ($ 660 million), and its automotive division posted a loss.

The company said it earmarked 1.4 billion euros ($ 1.6 billion) to pay fines stemming from a European Union investigation into whether German automakers conspired to contain the technology to reduce emissions of harmful vehicles. BMW (BMWYY) denied wrongdoing and says he will contest any fines.

The company warned that business conditions should remain volatile for the rest of the year, citing uncertainty over Brexit and international trade policies as risks. Shares were down 1% in Frankfurt.

3. Anadarko despises Chevron: Anadarko Petroleum (APC) that the revised offer is received from Western Oil (OXY) is greater than a previously accepted bid of Chevron (CLC).

Occidental bid $ 76 a share for Anadarko, of which $ 59 is cash. Chevron has until May 10 to make a counter offer, although that term can be extended.

Occidental was supported last week by Berkshire Hathaway (BRKA) Warren Buffett, who invested $ 10 billion in the company to help fund his acquisition of Anadarko.

The bidding war by Anadarko reflects an intense desire by US oil companies to acquire America's best shale assets. Occidental is already the largest oil producer in the vast Permian Basin.

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4. Profit and economy: Cinemark (CNK), Dean Foods (DF), Energizer (ENR), Marriott Vacations (VAC) and SeaWorld Entertainment (SEAS) will release earnings before the open.
Electronic Arts (AND THE), Loan Club (LC), Match group (MTCH), Papa Johns (PZZA), Sprint (s), TripAdvisor (TRIP) and Western Union (WU) will follow after closing.
Actions in Anheuser-Busch InBev (BUD) gained less than 1% in Brussels after the company posted first-quarter revenue growth of 5.9%. The brewery said it saw strong growth in Brazil and improved in the United States.
5. Arriving this week:
Tuesday – USA JOLTS; Anheuser-Busch InBev (BUD) and Papa Johns (PZZA) earnings
Wednesday – SALT Conference; GE (GE) annual meeting
Thursday – SALT Conference; China consumer price inflation; Unemployment Claims in US and Trade Data for March; Ford (F) annual meeting
Friday – US consumer price inflation; GDP of the United Kingdom; Marriott (SEA) earnings

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