Here is what you need to know.
- China’s industrial profits shrink. Profits fell 1.9% year-over-year in December to 680.8 billion yuan, or $US100.9 billion – one month after they posted their first contraction in nearly three years, Reuters reports, citing data released by China’s National Bureau of Statistics.
- Morgan Stanley explains the stock market is set to tumble again. “In our view, its recovery is fragile and vulnerable to negative earnings guidance, the resumption of Fed policy normalization and clumsy policy execution by China,” Lisa Shalett, the chief investment officer at Morgan Stanley Wealth Management, told Business Insider.
- Bitcoin is at its lowest level of the year. The largest cryptocurrency by market cap fell by as much as 4.8% to below $US3,388 a coin Monday, hitting its lowest level since December 17.
- Former Starbucks CEO Howard Schultz is considering a presidential run. “I love our country, and I am seriously considering running for president as a centrist independent,” he tweeted Sunday evening.
- 4 big Apple questions remain ahead of its most crucial earnings report in years. Apple is scheduled to report its holiday-quarter results on Tuesday – here are the key issues facing the iPhone giant.
- Vale suspends its dividend after its dam disaster.The world’s biggest iron-ore producer suspended its dividends after a dam breach at one of its mines in Brazil left at least 58 people dead and more than 300 others missing, Bloomberg reports.
- A California marijuana company is thinking about taking its hemp and CBD business public. Vertical’s president, Smoke Wallin, told Business Insider he was in early-stage talks with bankers to spin off his company’s hemp and cannabidiol business so it can be listed on a major US stock exchange.
- Stock markets around the world were lower. Japan’s Nikkei (-0.6%) led the losses in Asia, and France’s CAC (-0.48%) trails in Europe. The S&P 500 is set to open down 0.44% near 2,653.
- Earnings reporting is light. Caterpillar reports ahead of the opening bell.
- An avalanche of economic data is coming. Data releases will be heavy throughout the week as the government plays catch-up from the shutdown.
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