10 things you need to know before the opening bell

Here is what you need to know.

  1. The US could blacklist the Chinese surveillance firm Hikvision. The White House is considering a ban on exports of US components to Hikvision, similar to the one imposed on Huawei, according to The New York Times.
  2. The trade war could put a $US600 billion dent in the global economy. If trade relations continue to deteriorate, global gross domestic product would fall by 0.7%, or $US600 billion, by 2021, said the Organisation for Economic Cooperation and Development in a report released Tuesday.
  3. Tesla short-sellers are making a killing in May.Traders betting against Tesla’s stock have raked in more than $US1 billion in profits in May.
  4. Nordstrom had a rough first quarter. The retailer’s earnings, revenue, same-store sales, and guidance all fell short of Wall Street’s expectations.
  5. Huawei’s CEO buys iPhones. “iPhone has a good ecosystem and when my family are abroad, I still buy them iPhones, so one can’t narrowly think love for Huawei should mean loving Huawei phones,” Huawei CEO Ren Zhengfei said, according to the South China Morning Post.
  6. 15 companies that could get taken out in the next 12 months. Morgan Stanley looked at market cap, debt-to-assets, dividend yield, and other things and says these 15 companies are most likely to be taken over.
  7. George Soros isn’t always right. Here are eight predictions made by the billionaire investor – and their outcomes.
  8. Stock markets around the world are mostly higher. Hong Kong’s Hang Seng (+0.18%) led the gains in Asia, and Britain’s FTSE (+0.46%) was out front in Europe. The S&P 500 was set to open little changed near 2,864.
  9. Earnings reports keep coming. Lowe’s and Target report ahead of the opening bell, while L Brands releases its quarterly results after markets close.
  10. US economic data is light. The minutes from the Fed’s May 1 meeting will cross the wires at 2 p.m. ET. The US 10-year yield is unchanged at 2.43%.

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