Dow set to sink | US-China trade gap widens | Shutdown enters Day 24

BY THE NUMBERS

Futures were lower this morning on weak China trade data and concerns about the global economy. The major averages fell for the first time in six sessions Friday, but the Dow, S&P 500, and Nasdaq posted three consecutive weekly gains. Ahead of Monday trading on Wall Street, however, the Dow, S&P 500, and Nasdaq were still in correction territory. (CNBC)

* European stocks fall; Pandora shares down 6% (CNBC)
* Asia Pacific markets fall as investors react to China's trade data (CNBC)

China's trade surplus with the United States — closely watched as a bitter trade dispute between the two countries continues — grew 17 percent from a year ago to hit $323.32 billion in 2018. According to Reuters, that's the highest on record dating back to 2006. (CNBC)

Citigroup (C) leads this morning's short list of corporate earnings reports, but banks J.P. Morgan Chase (JPM) and Wells Fargo (WFC) and several other companies are scheduled to report tomorrow. There are no reports of note due out after today's closing bell. (CNBC)

Shares of Gannett (GCI) were soaring about 20 percent in the premarket after hedged-fund backed newspaper chain MNG Enterprises announced this morning plans to buy the USA Today publisher for $12 per share. That's a 23 percent premium to Gannett's close on Friday. (Reuters)

Goldcorp (GC) shares were jumping about 13 percent in premarket trading after Newmont Mining (NEM) said this morning it would buy its smaller rival in a $10 billion deal. The buyout, which values Goldcorp about 18 percent higher than Friday's close, creates the world's biggest gold producer by output. (Reuters)

IN THE NEWS TODAY

A winter storm blamed for at least five deaths in the Midwest pummeled the mid-Atlantic region over the weekend, bringing with an icy mix that knocked out power, cancelled flights, and caused car accidents. (AP)

Due to the storm, all federal offices are closed today, not just the ones impacted by the partial government shutdown, which entered its 24th day. A rash of analyst notes are warning that the longest shutdown in U.S. history will soon start to affect businesses. (CNBC)

* Thousands of federal workers file for unemployment (CNBC)

The White House requested options for a military strike against Iran last September, according to the Wall Street Journal revealed, citing U.S. officials. The request alarmed Pentagon and State Department officials, the Journal wrote.

President Donald Trump has gone to extraordinary lengths to conceal details of his conversations with Russian President Vladi­mir Putin, current and former U.S. officials said. (Washington Post)

CNBC has learned that several Democratic politicians – known collectively as "the governors" among elite donors – have been in contact with Wall Street's top political financiers as they each consider running for president in 2020.

British lawmakers are set to vote on Prime Minister Theresa May's much-maligned Brexit deal tomorrow, with less than three months to go before the U.K. is set to leave the European Union. (CNBC)

At the Detroit Auto Show, Ford Motor (F) CEO Jim Hackett told CNBC the company is gearing up to launch new electric cars as soon as next year. Ford previously announced its plans to invest $11 billion in electric vehicles by 2022.

Chinese telecom giant Huawei, the world's second largest maker of smartphones, fired a sales director arrested in Poland on charges of conducting espionage on behalf of China, according to the Wall Street Journal.

STOCKS TO WATCH

Apple (AAPL) could be under pressure once again after one of its chip suppliers, Germany's Dialog Semiconductor, reported fourth quarter sales at the low end of its target range. Dialog's power management chips for Apple devices represents about three quarters of its business.

PG&E (PCG) Chief Executive Officer Geisha Williams stepped down over the weekend, as the utility deals with the financial impact of possible links to the recent California wildfires. Reuters reports that PG&E has also been talking to banks about possible bankruptcy financing.

Anheuser-Busch InBev (BUD) is considering a partial IPO of its Asian operations, according to Reuters, a move that would raise billions of dollars for the beer brewing giant that could be used to pay down debt.

General Electric's (GE) Medical Systems Information Technology unit won a $450 million Pentagon contract for patient monitoring systems.

Viacom (VIAB) is in talks to sell a majority stake of some of its China operations, according to sources quoted by the Wall Street Journal.

Sherwin-Williams (SHW) was upgraded to "outperform" from "market perform" at Wells Fargo, which believes that investors are underestimating the paint producer's potential upside.

WATERCOOLER

The Kansas City Chiefs will play the New England Patriots this weekend in the AFC championship game. And it's the New Orleans Saints versus the Los Angeles Rams in the NFC title game. (Washington Post)