10 things you need to know before the opening bell

Mark Wilson/GettyPresident Donald Trump and first lady Melania Trump spotted the North Carolina-grown Fraser fir Christmas tree at the North Portico on Monday as it made its way to the Blue Room for display at the White House.

Here is what you need to know.

  1. Bitcoin plunges below $US4,500. The benchmark cryptocurrency has slumped 22% this week amid a dispute among bitcoin-cash developers that led to a hard fork of the currency on Friday.
  2. Pacific Gas and Electric Company discloses a 2nd power-line failure. California’s biggest utility provider said in a filing that the issue occurred on the morning of November 8, when the deadly Camp Fire broke out.
  3. The French finance minister says Carlos Ghosn is unfit to lead Renault. The Nissan chairman, who is also the CEO of Renault, was arrested Monday in Tokyo amid financial-misconduct allegations.
  4. Andrew Left is bullish on Nio, the so-called Tesla of China. In a note on Monday, Left’s Citron Research said the electric-car company’s shares had “little resistance” on their way to rallying to $US12, a jump of about 60%.
  5. A $US736 billion strategist is bracing for a 2019 stock-market meltdown worse than anything we’ve seen this year.Andrew Milligan, the head of global strategy at Aberdeen Standard Investments, exclusively shared with Business Insider three ways investors could profit from a correction of 5% to 15%.
  6. Legendary investor Joel Greenblatt unpacks the Warren Buffett-inspired ‘magic formula’ that’s crushed the market. Greenblatt’s Gotham Index Plus fund has beaten 99% of its peers over the past three years.
  7. Target plummets 10% after missing sales expectations ahead of the crucial holiday season. Third-quarter sales at stores open for at least a year rose 5.1%, versus 5.2% expected.
  8. Best Buy and Kohl’s beat earnings forecasts and raised guidance. Foot Locker and Gap report after the market close.
  9. Housing data is coming. The Census Bureau will release its monthly starts and building permits numbers at 8:30 a.m. ET. The 10-year yield is down 1 basis point at 3.041%.
  10. US stock futures indicate another red open. Nasdaq futures are down 111 points, or 1.66%, and Dow futures are down 271 points, or 1.08%.

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