What's moving markets today

10:33 a.m. ET, February 21, 2019

Johnson & Johnson shares fall after subpoenas are revealed

Johnson & Johnson (JNJ) revealed in a regulatory filing that it had received subpoenas from the US government about allegations that it knew for decades that asbestos was in its baby powder.

Shares fell more than 1% in early trading.

"The Company is cooperating with these government inquiries and will be producing documents in response," the conglomerate said in the filing.

10:08 a.m. ET, February 21, 2019

Nike shares slip after star player's injury

A pair of Nike (NKE) shoes were in the national spotlight last night — all for the wrong reasons.

Duke freshman athlete Zion Williamson was injured after his Nike shoe tore apart less than a minute into a basketball game. Shares of the company are declining more than 1% following the incident that went viral.

Nike said in a statement it was "obviously concerned." It continued:

The quality and performance of our products are of utmost importance. While this is an isolated occurrence, we are working to identify the issue."

6:20 a.m. ET, February 21, 2019

What's driving markets now

Some stocks we're watching this morning:

  • Barclays (BCSjumped 3.6% after the UK bank reported earnings that matched analyst expectations and highlighted a strong performance from its trading business.
  • Lenovo (LNVGFspiked nearly 12% in Hong Kong after the Chinese tech company beat earnings expectations. Its smartphone business turned a profit for the first time since it acquired Motorola's mobile phone division five years ago.
  • Shares in shipping giant Maersk (AMKAF) dropped nearly 10% after the company warned that its 2019 earnings wouldn't meet expectations. Investors have been watching to see how the Danish company would be affected by the global economic slowdown, Brexit and the trade war between the US and China.
6:20 a.m. ET, February 21, 2019

Markets check before the bell

US stock futures are pointing higher ahead of more trade talks between the US and China.

Top negotiators from the two countries are set to meet on Thursday in Washington, where they'll try to close gaps on issues including China's currency and market access for US companies.

President Trump has indicated that he is prepared to extend his self-imposed deadline if an agreement is close. If he doesn't, tariffs on $250 billion worth of Chinese goods will go from 10% to 25% on March 2.