Good Morning! Here’s what you need to know on Tuesday.
1. At least 59 people have died in a mass shooting in Las Vegas at a country music festival Sunday night, and details are slowly emerging about the victims. One was an off-duty police officer from Bakersfield, according to the Las Vegas Metropolitan Police Department (LVMPD). His name has not yet been released while police notify his family.
2. Shares of major gun manufacturers rose in trading on Monday following the deadliest mass shooting in modern US history. Gun stocks tend to rally after mass shootings. Heightened conversation about potential gun-control legislation raises speculation that people would want to buy firearms sooner rather than later before any regulations could be tightened.
3. The collapse Monarch Airlines on Monday could be great news for Britain’s other major airlines, analysts say, with budget carrier easyJet likely to be the big winner. “We note that easyJet and Ryanair have the highest capacity overlap with Monarch and in the event of an exit could be the biggest potential beneficiaries,” a Goldman Sachs note circulated on Monday said.
4. Goldman Sachs is flirting with the idea of setting up a bitcoin trading shop. The Wall Street powerhouse is reportedly in the very early stages of potentially setting up a bitcoin trading operation. “In response to client interest in digital currencies we are exploring how best to serve them in this space,” a Goldman spokeswoman told The Wall Street Journal.
5, Wall Street analysts showed “extreme bullishness” on stocks at the end of September, based on a monthly survey conducted by Bank of America Merrill Lynch. BAML points out that it’s historically been a bearish signal when Wall Street gets extremely bullish. Described by the firm as a “reliable contrarian indicator,” the sell-side gauge helps bolster the long-standing argument from stock market pessimists that US stocks are overheating.
6, Gazprom dethroned ExxonMobil as the top energy company in the world, according to the 2017 S&P Global Platts Top 250 Global Energy Company Rankings. For 12 years, ExxonMobil was second to none. But that changed this year — Exxon was ejected from the top spot, and fell all the way to ninth place.
7. Japanese stocks hit fresh two-year highs on Tuesday morning, tracking a Wall Street rally as data pointed to underlying strength in the U.S. economy, while a weaker yen also helped overall sentiment. The Nikkei rose 1.1% to 20,620 in late afternoon trade, the highest level since August 2015.
8. Jo Bertram, the top Uber executive in London, has quit. “While I would like to have announced my move in smoother circumstances, I’m proud of the team we’ve built here and am very confident in their abilities to lead the business into the next chapter,” she wrote in an email to staff. “I’ll work with you in the coming weeks on the best possible transition.”
9. The British government will immediately agree 40 free trade deals with other non-EU countries the minute Britain leaves the European Union in 2019, Liam Fox promised. The Secretary of State for International Trade insisted the UK would easily be able to copy and paste all 40 of the EU’s external trade deals “the second after midnight” on Brexit day in March 2019.
10. Saul Klein, the cofounder of LoveFilm and several other startups, has formally announced his latest venture: Zinc. Zinc is a “company builder” in the same way that established London companies like Entrepreneur First, Founders Factory, and Seedcamp (also cofounded by Klein) are company builders.
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