Here is what you need to know.
Oil is looking to extend its record losing streak.West Texas Intermediate crude oil fell by as much as 1% to $US55.13 a barrel early Monday, but is now little changed near $US55.75. Any down close would extend its record losing streak to a 13th straight day.
The world’s biggest shipping company has proof that Trump’s China tariffs are battering global trade. AP Moller-Maersk, the world’s biggest operator of container ships, announced third-quarter profit that topped expectations, but said that global container trade is occurring at “a much slower pace of growth,” up 4.2% versus the 5.8% growth recorded over the same period in 2017.
Swelling corporate debt piles are now global fund managers’ major concern. Twenty-four per cent of global fund managers surveyed by Bank of America Merrill Lynch believe that corporate bonds will be the worst-performing asset class in 2019.
Amazon officially announces the homes of its HQ2.The Long Island City neighbourhood in Queens, New York, and the newly formed National Landing area of Arlington, Virginia, have been chosen as the homes for Amazon’s second headquarters.
Snap has been subpoenaed by Justice Department and SEC for information on IPO disclosures. The social-media app maker said it thinks the investigations are “likely focused on IPO disclosures relating to competition from Instagram,” according to Reuters.
Tilray misses on sales an earnings. The cannabis producer lost $US0.20 a share on revenue of $US10 million as it sold 136% more kilograms of cannabis compared to a year ago.
Sweetgreen is the newest unicorn. The fast-casual salad chain announced Tuesday that it had raised $US200 million in a funding round led by Fidelity Investments, pushing its valuation over the $US1 billion mark.
Stock markets around the world are lower. Australia’s ASX (-2.03%) was hit hard overnight and Germany’s DAX (-0.62%) trails in Europe. The S&P 500 is set to open little changed near 2,725.
Earnings reports keep coming. Canada Goose, Canopy Growth, and Macy’s report ahead of the opening bell while Cisco Systems releases its quarterly results after markets close.
US economic data trickles out. CPI will cross the wires at 8:30 a.m. ET. The US 10-year yield is down 1 basis point at 3.13%.