1. Paris Air Show: All eyes are on Boeing as the Paris Air Show kicks off Monday.
EU leaders have agreed that Britain will leave the bloc on May 22 if UK lawmakers approve Prime Minister Theresa May’s divorce deal. The original departure date was March 29.
But if May’s agreement is rejected for a third time, the United Kingdom will have until April 12 to decide on a new way forward. That could mean a lengthy delay or a messy departure.
Kallum Pickering, an economist at Berenberg bank, called the EU action “a small step back from the cliff-edge, for now.”
The extension provided some relief to the embattled British pound. The currency was trading 0.6% higher against the euro on Friday, at €1.16. It was slightly lower against the US dollar at $1.31.
2. Tariff hearings begin: Companies and trade groups are about to get their say on the wisdom of US tariffs on an additional $300 billion worth of Chinese exports.
Indonesian airline Garuda said it was canceling a $4.9 billion order for the passenger jet after the plane was involved in two deadly crashes in less than five months.
The Indonesian carrier ordered 50 of the planes in 2014. It has taken delivery of one of them but has now sent a letter to Boeing (BA) saying it no longer wants to receive the remaining jets on order.
CNN reported earlier this week that US Justice Department prosecutors have issued multiple subpoenas as part of an investigation into Boeing’s certification from the US Federal Aviation Administration and the company’s marketing of 737 Max planes.
The 737 Max jets are by far the most important product for the company. It has orders for nearly 5,000 of the aircraft, enough to keep production lines operating for years to come.
3. Housing market watch: US home sales figures for February will be released by the National Association of Realtors at 10 a.m. ET.
Home sales dipped 1.2% in January over the previous month, leading to concerns about the health of the broader US economy.
But with the Federal Reserve likely to keep interest rates on hold for the foreseeable future, there are hopes that the housing market will start to rebound.
3. Markets rise: Global stocks are starting off the week on a positive note.
Levi Strauss (LEVI) entered the New York Stock Exchange with a bang, soaring 32% on its first day of trading on Thursday.
7. Earnings bonanza: 3M (MMM), Bristol-Myers (BMY), Comcast (CMCSA), Hershey Foods (HSY), Hess (HES), Raytheon (RTN), Southwest Air (LUV), UPS (UPS) and Xerox (XRX) will release earnings before the open.
Shares in Nike (NKE) dropped more than 4% in extended trading after it reported disappointing sales in North America.
Bloomberg reported that Uber has selected the New York Stock Exchange as the venue for its IPO, which is expected later this year.
Pinterest Inc. has sped up its plans for going public, according to the Wall Street Journal. Pinterest declined to comment on the report.
4. Coming this week:
Monday: Paris Air Show, US Treasury foreign ownership report
Tuesday: Adobe earnings, US housing starts, US Senate hearing on tariffs
Wednesday: Fed decision and press conference, earnings from Oracle (ORCL) and Barnes & Noble (BKS)
Thursday: US leading indicators, Bank of England rate decision, earnings from Kroger (KR) and Red Hat (RHT)
Friday: US existing home sales, Markit flash US manufacturing PMI