Updated from 6 a.m. EST
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Here are five things you must know for Friday, Feb. 10:
1. -- U.S. stock futures rose and global stocks posted gains after Donald Trump promised he would soon cut taxes for businesses.
"Lowering the overall tax burden on American business is big league. That's coming along very well," the president said at a meeting Thursday with airline and airport executives. "We're way ahead of schedule, I believe. And we're going to announce something I would say over the next two or three weeks that will be phenomenal in terms of tax."
The three major U.S. stock indexes closed at record highs Thursday following Trump's comments.
Asian stocks finished higher Friday ahead of Trump's meetings over the weekend with Japanese Prime Minister Shinzo Abe. Japanese companies, worried about Trump's complaints over trade and exchange rates, hope Abe can get him to buy into a job creation and investment package, the Associated Press noted. Much better-than-expected trade data from China also boosted sentiment.
The economic calendar in the U.S. on Friday includes Export and Import Prices for January at 8:30 a.m. EST, the preliminary University of Michigan Sentiment Index for February at 10 a.m., and the Treasury Budget for January at 2 p.m.
2. -- The Trump administration's travel ban will remain on hold -- for now.
Reckitt Benckiser, which makes Lysol cleaners, Durex condoms and Mucinex cold medicine, will pay $90 a share for Glenview, Ill.-based Mead Johnson. Reckitt Benckiser said the total value of the transaction, including debt, will be $17.9 billion.
The bid price represents an 8.37% premium to Mead Johnson's closing price on Thursday, but is unchanged from the Feb. 2 price first floated by Reckitt Benckiser, which was a 30% premium at the time it was announced.
