10 things you need to know before the opening bell

10 things you need to know before the opening bell

1. The UK economy shrank 5.8% in March, the fastest drop in history - and it's only going to get worse.. The UK's economy shrank at the fastest pace since the global financial crisis in the first quarter of 2020, according to data released Wednesday by the country's statistics authority.. Escalating tensions between US and China on who is responsible for the outbreak of COVID-19 will not just push the Chinese yuan lower, but could also spark a major devaluation across numerous major currencies, analysts warn.. 4. Qatar Airways is in talks to defer Airbus, Boeing orders Qatar Airways, one of the Middle East's biggest airlines, is in talks with Airbus and Boeing to defer aircraft orders for several years, its chief executive was quoted as saying on Wednesday.. US stock index futures edged higher on Wednesday, a day after Wall Street's main indexes fell, as investors kept an eye out for Federal Reserve Chairman Jerome Powell's address.. 7. Fed's Powell to assess next phase of pandemic economy.. US EIA Crude Oil stocks change and Fed Chair Powell's speech are among the key market events Wednesday..