Here is what you need to know.
Theresa May is getting ready to trigger Article 50. UK Prime Minister Theresa May will likely receive the authority to trigger Article 50 in a vote on Monday evening. If it passes, as expected, May could begin the UK’s process of leaving the European Union as early as Tuesday.
Japan’s core machinery orders miss big. Data released by the Cabinet Office on Monday showed orders fell 3.2% month-over-month in January, missing the 0.1% dip that economists were anticipating. The Japanese yen is down 0.2% at 114.60 per dollar.
Oil’s slide continues. West Texas Intermediate crude oil trades down 0.8% at $US48.11 per barrel on Monday, its lowest since November 30, the day OPEC announced it was cutting production.
The SEC rejected the Winklevoss twins’ Bitcoin ETF. Shortly after markets closed on Friday, the Securities and Exchange Commission handed down its ruling, saying it would disapprove the ETF as it believes “significant markets for bitcoin are unregulated” and therefore “the exchange has not entered into, and would currently be unable to enter into, the type of surveillance-sharing agreement that has been in place with respect to all previously approved commodity-trust ETPs…” Bitcoin tumbled more than 16% in the wake of the decision but has retraced the lion’s share of those losses.
Mario Draghi speaks. ECB head Mario Draghi will speak in Frankfurt, Germany at 9:30 a.m. ET on “Fostering innovation and entrepreneurship in the euro area.
Intel is reportedly buying Mobileye. Shares of Mobileye are up 30% ahead of the opening bell following a report from Israeli newspaper Haaretz, citing sources, that suggests Intel has agreed to buy it for $US15 billion.
Vista Equity Partners is nearing a deal to buy DH Corp. The firms are in advanced talks and an agreement could be announced as soon as this week, but could still fall apart, Bloomberg says, citing people familiar with the matter. Terms of the potential deal are unknown.
HSBC names a new chairman. The bank has named Mark Tucker, current CEO and president of the insurer AIA, as its new chairman. Tucker is scheduled to begin on September 1.
A blizzard is bearing down on New York. The National Weather Service has issued a Blizzard Warning for New York City and Southern New York State that will be in effect from midnight tonight until midnight Tuesday night. The storm is expected to produce as much as 20 inches of snow accumulation and wind gusts up to 55 miles per hour.
Stock markets around the world are mixed. Hong Kong’s Hang Seng (+1.1%) led the gains in Asia and Germany’s DAX (+0.1%) clings to small gains in Europe. The S&P 500 is set to open down 0.1% near 2,370.
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