Here is what you need to know.
- The world’s 3rd richest man is pledging $US226 million to help rebuild Notre Dame. Bernard Arnault, the head of the family behind the French luxury conglomerate LVMH, who has a net worth of about $US90 billion, has pledged 200 million euros ($US226 million) to help rebuild Notre Dame Cathedral after it was devastated by fire on Monday.
- Trump’s tax reform is contributing to the housing slowdown.President Donald Trump’s tax reform has increased after-tax home-ownership costs and reduced incentives to own homes, according to a report from the New York Fed economists Richard Peach and Casey McQuillan.
- Here’s how to profit during market crashes.“When I look at fund returns in the mutual fund industry versus investor returns, it almost makes me cry, just given how bad retail investors can be on timing their entry and exit in and out of funds,” Jim Tierney, chief investment officer of the AB Concentrated Growth Fund, told Business Insider. “It all boils down to conviction: Don’t be shaken at the bottom and don’t chase at the top.”
- Europe’s biggest IPO of the year is here.The $US6.4 billion Italian payments-firm Nexi debuted on the Milan Stock Exchange on Tuesday, with shares trading down 6% at 12:30 p.m. local time.
- Bernie Sanders goes after Amazon, Netflix, and other US corporations. “While millions of people today are paying actually more in taxes than they anticipated, Amazon, Netflix and dozens of major corporations, as a result of Trump’s tax bill, pay nothing in federal taxes,” Democratic Sen. Bernie Sanders told Fox News hosts Bret Baier and Martha MacCallum. “I think that’s a disgrace.”
- JB Hunt misses on earnings. The trucking giant missed on both the top and bottom lines, pinning the disappointing results on bad weather and higher driver salaries, among other things.
- These shareholders have a lot at stake when Netflix reports after Tuesday’s closing bell. From JPMorgan to CEO Reed Hastings, these are Netflix’s 10 biggest shareholders.
- Stock markets around the world were higher. China’s Shanghai Composite (+2.39%) led the gains in Asia and Germany’s DAX (+0.54%) was out front in Europe. The S&P 500 was set to open up 0.31% near 2,915.
- Earnings reporting picks up. Bank of America, BlackRock, Johnson & Johnson, and UnitedHealth report ahead of the opening bell while IBM, Netflix, and United Continental release their quarterly results after markets close.
- US economic data keeps coming. Industrial production and capacity utilization will cross the wires at 9:15 a.m. ET and the NAHB Housing Market Index is due out at 10 a.m. ET. The US 10-year yield was little changed near 2.55%.
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