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Stock market news: Opening bell, February 13, 2018

Coast Guard plane
U.S. Coast Guard HC-130 Hercules airplane receives a wash down to
protect it from salt at Air Station Barbers Point,

Reuters/Chief Petty Officer
Brandon Kelly

Here is what you need to know.

Trump’s budget proposes making part of the food-stamp program a
meal-delivery service with boxed grocery
President Donald Trump’s budget
proposes Supplemental Nutrition Assistance Program
(SNAP) recipients would begin to receive some of their
benefits in the form of a package with groceries inside including
“items such as shelf-stable milk, ready to eat cereals, pasta,
peanut butter, beans and canned fruit, vegetables, and meat,
poultry or fish.”

Theresa May is prepared to bring forward Brexit day to December
UK Prime Minister Theresa May is
reportedly prepared to accept EU demands that any Brexit
transition must end by December 31, 2020. Previously, the UK
government had sought a transition phase of at least 2 years.

UK inflation holds at 3%
 “The cost of entry to
attractions such as zoos and gardens” was a key driver in the
higher than expected reading, according to the Office for
National Statistics.

It looks like very few US citizens are telling the IRS about
their crypto trading
Less than 100 people out
of the 250,000 individuals who have already filed federal taxes
this year through company Credit Karma reported a cryptocurrency
transaction to the IRS despite a recent Quavltric survey
showing 57% of the 2,000 Americans surveyed saying they had
realized some gains from digital currencies.

Walgreens has reportedly approached AmerisourceBergen about
a takeover
Walgreens, which already owns 26%
of the drug distributor, reached out a couple of weeks ago to
discuss a deal, the Wall Street Journal reports. Shares of
AmerisourceBergen are up more than 17% ahead of the opening

General Motors has begun the process of exiting South
The automaker announced it is closing one of
four assembly plants in the country, and will decide the fate of
the other three within weeks, Reuters says.

Carl Icahn is trying to stop the Xerox-Fujifilm
Icahn and fellow activist investor Darwin
Deason are urging shareholders to oppose the $6.1 billion deal,
saying Xerox can create “enormous value for shareholders,
and it does not involve selling control to Fuji without a
premium,” according to a Reuters report.

A female executive at Steve Cohen’s investment firm says it
created a hostile work environment toward
Associate director Lauren Bonner filed a
lawsuit against Point 72, accusing it of being a
testosterone-fueled ‘boys’ club,'” and outlining a
number of alleged incidents in which women were targeted by male
colleagues who disparaged their abilities and talked negatively
about their bodies, The New York Times reports.

Stock markets around
the world trade mixed
Hong Kong’s Hang Seng
(+1.29%) led the gains in Asia and Germany’s DAX (-0.22%) lags in
Europe. The S&P 500 is set to open down 0.6% near 2,640.

reporting picks back up
Blue Apron, Pepsi, and
Under Armour report ahead of the opening bell. 

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