Here is what you need to know.
- MPs seize control of Brexit. Members of Parliament have voted in favour of holding a series of “indicative events” designed to guide the UK government on its next steps for Brexit.
- The inverted yield curve will cause asset bubbles, economist says. The US is able to “finance relatively good growth at artificially suppressed interest rates,” which will lead to asset bubbles and not a recession, according to Tom Porcelli, RBC’s chief US economist.
- A Wall Streeter who called the last stock-market meltdown explains how investors could be falling into a trap.Traders have historically believed that strong profit growth means a bright future for a company’s stock, but that’s not the case says Ed Clissold, the chief US equity strategist at Ned Davis Research.
- Uber is buying its Middle Eastern rival. The ride-sharing app has agreed to pay $US3.1 billion for Careem – $US1.4 billion in cash and $US1.7 billion in convertible notes – its Middle Eastern rival.
- Apple ‘s event underwhelmed investors. “As far as this event is concerned, I think there was an expectation that we would get answers to a number of things we didn’t get answers to,” CFRA analyst Angelo Zino told Markets Insider.
- Boeing’s 737 Max crisis could take a bite out of the US economy. The production stoppage of the 737 Max aircraft could take 0.15% off GDP for every quarter that it is in effect, JPMorgan’s Michael Feroli said.
- A former Goldman Sachs exec turns down Wells Fargo.The former Goldman Sachs executive Harvey Schwartz has turned down the chance to be the CEO of Wells Fargo, CNBC says, citing people close to him.
- Stock markets around the world were higher. Japan’s Nikkei (+2.15%) paced the gains in Asia and Britain’s FTSE (+0.27%) was out front in Europe. The S&P 500 was set to open up 0.52% near 2,813.
- Earnings reporting is light. Cronos and KB Home report ahead of the opening bell.
- US economic data is heavy. Housing starts and building permits will both cross the wires at 8:30 a.m. ET before S&P home prices are released at 9 a.m. ET. Data concludes at 10 a.m. ET with consumer confidence. The US 10-year yield
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