Here is what you need to know.
The world’s biggest hedge fund warns: ‘2019 is setting up to be a dangerous period for the economy.’ Ray Dalio’s Bridgewater Associates said in a note to clients seen by Business Insider that it’s “bearish on almost all financial assets.”
The annual Bilderberg Meeting is happening this week. The Bilderberg Meeting, which hosts powerful politicians, financiers, and CEOS from Europe and North America, takes place in Turin, Italy, this week, and populism is at the top of the agenda.
Chinese tech company ZTE may pay a $US1.7 billion fine. The US Commerce Department would lift sanctions on ZTE that prevents it from buying US suppliers if the fine is paid, Reuters reports.
A Hong Kong parking space sold for $US760,000. The parking space, which is located at the luxury Ultima project in Hong Kong’s Kowloon district, was bought for just $US430,000 less than a year ago.
Investors are stubbornly clinging to a trade that blew up earlier this year – and Morgan Stanley says they’re setting themselves up for more carnage. Traders betting against volatility haven’t learned their lesson and are at risk of repeating the same mistake they made earlier this year, according to the Morgan Stanley strategist Phanikiran Naraparaju.
Elon Musk says Tesla is close to reaching its Model 3 production goals. “I think it’s quite likely we’ll achieve a 5,000-car week by the end of this month,” Musk said Tuesday at Tesla’s annual shareholder meeting, adding, “This is like … the most excruciating, hellish several months I’ve maybe ever had.”
Twitter surges after being added to the S&P 500.Twitter gained 5.2% Tuesday, hitting its best level in three years after S&P Global announced it would replace Monsanto in the S&P 500.
Snap is on a 5-day winning streak. Shares of Snap have gained more than 22% since the streak began last Wednesday.
Stock markets around the world are higher. Hong Kong’s Hang Seng (+0.53%) paced the gains in Asia, and Germany’s DAX (+0.51%) is out front in Europe. The S&P 500 is set to open up 0.22% at 2,755.
US economic data trickles out. The trade balance will be released at 8:30 a.m. ET. The US 10-year yield is up 2 basis points at 2.95%.
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