10 things you need to know before the opening bell

Here is what you need to know.

  1. Huawei says it’s ‘fully prepared’ for a conflict with the US. CEO Ren Zhengfei told Chinese media on Tuesday that a conflict with the US is inevitable as Huawei works toward becoming a global tech leader.
  2. Google puts Huawei’s Android suspension on hold.The decision comes after the US Department of Commerce granted Huawei a 90-day licence in order to help existing customers.
  3. The trade war could cause the biggest engine of the US economy to slow. “Confidence shocks matter,” Bank of America Merrill Lynch’s economists wrote. “Keep a close eye on confidence indicators. A protracted trade war could have a meaningful impact on consumer spending.”
  4. Tesla closes at a 2.5-year low. Shares fell by as much as 7.5% on Monday before closing down 2.7% at $US205.36 apiece, making for the lowest close December 2016.
  5. Ford is cutting 10% of its global workforce.The automaker is eliminating 7,000 white-collar jobs in a cost-cutting measure that will save $US600 million a year, AP reports.
  6. Slack changes its ticker ahead of its direct listing.The workplace-collaboration company will trade under the ticker WORK when it goes public via a direct listing in the coming weeks.
  7. Here are the 15 best-performing S&P 500 stocks this year. The S&P 500 has gained 14% in 2019, and these 15 stocks are leading the gains.
  8. Stock markets around the world were higher. China’s Shanghai Composite (+1.22%) was the standout in Asia and Germany’s DAX (+0.95%) is out front in Europe. The S&P 500 was set to open up 0.6% near 2,857.
  9. Earnings season rolls on. Home Depot, Kohl’s, and TJX report ahead of the opening bell while Nordstrom and Toll Brother’s release their results after markets close.
  10. US economic data trickles out. Existing home sales will be released at 10 a.m. ET. The US 10-year yield was little changed near 2.42%.

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