Here is what you need to know.
Saudi Arabia vows to cut oil production. West Texas Intermediate crude oil gained as much as 1.8% to $US61.28 a barrel early Monday after Saudi oil minister Khalid al-Falih reportedly told reporters in Abu Dhabi that the kingdom plans to cut production by 500,000 barrels per day in December.
The UK is edging closer to a no-deal Brexit. Prime Minister Theresa May is reportedly planning to trigger a no-deal Brexit unless there is a breakthrough in talks this week between UK and EU negotiators.
It’s all going dark in the gambling capital of the world.Wynn Reports last week forecast doom for revenues in the gambling capital of the world – Macau – and while some on Wall Street say the casino giant is being overly conservative, economic indicators on mainland China tell a different story.
An investing strategy that’s withstood the worst stock-market crashes since the 1920s is on the verge of a comeback.Growth stocks have dominated during the bull market, but Societe Generale says the conditions are now ripe for value investing to make a comeback.
The world’s biggest tech investor is targeting a $US21 billion IPO in December. The Japanese conglomerate Softbank is launching a 2.4 trillion yen (~$US21 billion) initial public offering for its mobile division. The IPO’s size will make it one of the biggest floats ever.
Alibaba makes e-commerce history. The online retailer raked in $US30.8 billion in a 24-hour span as part of its Singles Day celebration.
SAP is buying the startup Qualtrics days before it’s scheduled to IPO. The German database giant has agreed to pay $US8 billion for the experience-management startup Qualtrics just days before it was expected to go public at a valuation of more than $US5 billion.
British American Tobacco plunges on report the US could ban methanol cigarettes. Shares of the cigarette maker fell as much as 11% in London after the Wall Street Journal, citing senior agency officials, reported late Friday that US Food and Drug Administration Commissioner Scott Gottlieb wants to ban methanol cigarettes.
Stock markets around the world trade mixed. China’s Shanghai Composite (+1.22%) paced the gains in Asia and Germany’s DAX (-0.53%) lags in Europe. The S&P 500 is set to open little changed near 2,781.
Earnings reporting is light. Aurora Cannabis reports ahead of the opening bell.
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