Here is what you need to know:
- Amazon has lost market share for online sales, according to new eMarketer data. But that could be a positive for Amazon as it tries to play down its size at a time when tech antitrust investigations may be looming.
- Apple CEO Tim Cook met with Trump to discuss trade, immigration, and privacy. The meeting comes as President Donald Trump weighs whether to go ahead with proposed increases to tariffs in his trade war with China.
- Oil prices were pushed and pulled between competing drivers of Iran tensions and a supply glut. The resource has seen considerable volatility in recent days following a surprise increase in US inventories and attacks on two tankers in the Gulf of Oman.
- A top White House economic adviser says the ballooning budget deficit ‘doesn’t bother’ him. “I don’t think we’re at a crisis point now,” Larry Kudlow said of publicly held debt as a share of gross domestic product.
- A Boeing 737 Max being moved across Europe made a forced landing after being denied entry into German airspace. Norwegian tried to move its plane between Spain and Sweden with no one on board so it could have more of its fleet in the same place, but the plane was forced to land in France.
- NASA says its plan to send people back to the moon could cost as much as $US30 billion. NASA Administrator Jim Bridenstine said the money would come on top of NASA’s existing budget and would be spread out over five years.
- JPMorgan warns that America’s small businesses risk running out of money as the trade war rages on. To make matters even worse, the firm says investors appear blind to the mounting pressure.
- Stock markets around the world are mixed. Asian shares diverged, with the Shanghai Composite falling 1% but Japan’s Nikkei climbing 0.4%. European stocks were mostly lower, with the Euro Stoxx 600 slipping 0.6%. The S&P 500 is set to open down 0.2% at 2,888.50.
- Earnings reporting is light. Coffee Holding and Adaptive Insights report Friday.
- US economic data is set to come out. Monthly retail sales will be released at 8:30 a.m. ET, while University of Michigan sentiment will come out at 10 a.m.
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