Here is what you need to know.
A bunch of Chinese data misses. Industrial output, retail sales and fixed asset investment all missed to the downside in October, according to data released Tuesday by China’s National Bureau of Statistics.
UK inflation holds at a 5-year high. The UK’s Consumer Prices Index (CPI) held at 3% in October, according to the Office for National Statistics.
Cryptocurrency volumes hit a record high over the weekend. The 24-hour trading volumes for cryptocurrencies reached a record high above $US26 billion on Sunday, according to data site CoinMarketCap.com.
Buffalo Wild Wings receives of a takeover offer. Shares of the buffalo wing chain soared 28% in after-hours trading on Monday after private-equity firm Roark Capital Group made a $US2.3 billion offer for the company.
Amazon sells its cloud business in China. Beijing Sinnet Technology will pay up to 2 billion yuan ($US301 million) for Amazon’s Chinese web services business, Reuters says.
Walmart strikes another deal that confirms the death of the middle class as we know it. Lord & Taylor and its many designer fashion brands will be listed on Walmart’s website as the big-box retailer continues to work towards its goal of becoming a “premium fashion destination.”
Roku’s founder becomes a billionaire. Shares of Roku have more than doubled since the company’s first earnings report on November 8, making founder Anthony Wood a recent member of the three comma club.
Stock markets around the world are mixed. Australia’s ASX (-1.05%) led the losses overnight while Britain’s FTSE (+0.18%) paces the gains in Europe. The S&P 500 is set to open down 0.14% near 2,581.
Earnings reports keep coming. Dick’s Sporting Goods, Hone Depot and TJX report ahead of the opening bell while Home Capital Group releases its quarterly results after markets close.
US economic data is light. The Producer Price Index (PPI) will be released at 8:30 a.m. ET. The US 10-year yield is down 1 basis point at 2.40%.
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