10 things you need to know today (SPY, SPX, QQQ, DIA, HTX, RGR)

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May 9, 2017 11:55 AM

This is what traders are talking about.

An AH-64D Apache attack helicopter at the South Carolina National Guard Air and Ground Expo at McEntire Joint National Guard Base in South Carolina.

Here is what you need to know.

South Korea goes to the polls. Barring a major upset, liberal Moon Jae-in, who is open to dialogue with North Korea, is expected to win, Reuters says.

UK retail sales bounce back. Data released by the Retail Sales Monitor from the British Retail Consortium on Tuesday showed that retail sales in April surged 5.6% versus a year ago after slipping 1% in March.

Bitcoin tops $1,700. The cryptocurrency trades up by 4.3% at $1,728 a coin. It's up 81% this year.

Jeff Gundlach doesn't like US stocks. Speaking at the Sohn Investment conference, Gundlach, the founder of DoubleLine Capital, told attendees to go long the iShares Emerging Markets ETF and short the S&P 500.

Hertz tanks after missing big on earnings. The rental-car company lost an adjusted $1.61 a share, missing the $0.84 loss that Wall Street was anticipating by a wide margin. Share tumbled by as much as 15% in extended trading on Monday.

Sturm Ruger says gun demand slowed. The gunmaker said sell-through of its products from independent distributors to retailers fell by 7% after seeing a strong run-up to the 2016 presidential election.

The CEO of Qantas Airways took a pie to the face while giving a speech. CEO Alan Joyce was talking about his airline's recent decision to begin nonstop flights from London to Perth, Australia, when a man ran up to the podium and pied him in the face, City AM says. "If there are any more pies, can you get it over with now?" Joyce asked.

Stock markets are higher. Hong Kong's Hang Seng (+1.3%) led the gains in Asia, and Germany's DAX (+0.5%) trails in Europe. The S&P 500 is set to open little changed near 2,400.

Earnings reporting remains heavy. Allergan, Office Depot, and Valeant report ahead of the opening bell, while Disney, Priceline, and Yelp are among the names releasing their quarterly results after markets close.

US economic is light. Jolts Job Openings will be released at 10 a.m. ET. The US 10-year yield is unchanged at 2.39%, its highest since the end of March.

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