10 things you need to know today (SPY, SPX, QQQ, DIA, TIF, BABA)

Reuters/Carlos Barria

Here is what you need to know.

The largest part of China's economy slowed down a bit. China's Caixin-Markit services PMI slowed to 53.1 in January from 53.4 in December as growth slipped off its fastest pace in 17 months.

German factory orders posted their biggest jump since December 2014. Factory orders in Germany jumped 5.2% in December amid a pickup in investment-goods demand, Bloomberg reports, citing data from Germany's economy ministry.

Big business in the UK is starting to feel the pain from Brexit. An Ipsos Mori poll of senior executives at more than 100 of the top 500 companies in the UK found that 58% of businesses believe they are starting to feel the impact of the UK's decision to leave the European Union.

A decision on a Scottish referendum is coming soon. "We are working on a timescale now where Article 50 (which triggers Britain leaving the European Union) will be activated next month that's the timescale when it will almost certainly become clear whether there's going to be a referendum or not," said Ross Greer, a member of the Scottish Green Party, which is aligned with First Minister Nicola Sturgeon.

Jack Ma speaks on trade. "If trade stops, war starts," Alibaba CEO Jack Ma said at the launch of his company's Australia and New Zealand headquarters. "We have to actively prove that trade helps people to communicate. And we should have fair trade, transparent trade, inclusive trade."

Toyota raises its full-year outlook. The world's No. 2 automaker raised its 2017 full-year profit guidance to 1.7 trillion yen ($15.08 billion) from its prior forecast of 1.55 trillion yen because of the impact of a weaker yen and cost-cutting measures, according to Reuters.

Tiffany's CEO steps down. Frederic Cumenal announced on Sunday that he was stepping down as CEO because of disappointing financial results, Reuters reports, citing a release by the company. Chairman Michael Kowalski, who was previously Tiffany's CEO, will serve as interim CEO until a replacement is found.

'Split' won the weekend box office. The movie won the box office for the third weekend in a row, raking in $14.6 million, according to Deadline.

Stock markets around the world are higher. Hong Kong's Hang Seng (+1%) led the gains in Asia, and Britain's FTSE (+0.3%) is among the leaders in Europe. The S&P 500 is set to open higher by 0.2% near 2,297.

Earnings reporting is moderate. Loews and Tyson Foods will report ahead of the opening bell, while CBOE and 21st Century Fox are among the names releasing their quarterly results after markets close.

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