Here is what you need to know.
Stocks are at record highs. Monday marked the first day of the recent rally where the Dow, Nasdaq, and S&P 500 all closed in record territory. The gains are likely to continue early Tuesday with the S&P 500 set to open near 2,205, up 0.5%.
A powerful earthquake rocked northern Japan. The quake was measured at 6.9 on the Richter scale and set off a tsunami with waves of up to three feet high. The natural disasters hit Fukushima, the same city that was devastated by the 2011 twin disasters.
Copper is on fire. The metal has gained more than 20% over the past month amid speculation in a “pick-up in worldwide manufacturing and infrastructure spending,” Bloomberg reports.
Crude oil nears $50. Oil prices are rallying as the market continues to price in the possibility of a production cut at the upcoming OPEC meeting on November 30. West Texas Intermediate crude oil is higher by 0.6% at $48.53 per barrel.
The favourite to become the next French president wants Brexit to be “fast.” Francois Fillon, the right-center politician who will square off against Alain Juppé in the second round of voting later this week, says the divorce “should be fast” and leave Britain without its financial passport.
Investors are ditching bonds at the fastest rate in 3 years. Fears of higher interest rates and the return of inflation have caused investors to sell bonds, concentrated in emerging markets, at the fastest weekly pace since 2013.
Amazon is in talks to start streaming sports on Prime. Amazon is in talks with several organisations, including the National Football League, the National Basketball Association, Major League Baseball, and others, to start a “premium” sports package that will be streamed on Prime, the Wall Street Journal reports.
Stock markets around the world are higher. Hong Kong’s Hang Seng (+1.5%) led the advance in Asia and Britain’s FTSE (+1.0%) is out front in Europe.
Earnings reporting continues. Barnes & Noble, Campbell Soup, and Hormel Foods are among the companies reporting ahead of the opening bell while GameStop, Hewlett Packard Enterprise, and HP highlight the names releasing their quarterly results after markets close.
US economic data is light. Existing home sales will be released at 10 a.m. ET. The US 10-year yield is down 2 basis points at 2.29%.