10 things you need to know before the opening bell

Here is what you need to know.

Saudi Arabia arrests 11 princes. Over the weekend, 11 Saudi princes, including billionaire investor Prince al-Waleed bin Talal, were arrested in a new anti-corruption probe.

The head of the New York Fed is planning on leaving early. New York Fed President William Dudley, whose term ends in January 2019, could announce his retirement as soon as this week, CNBC reports.

Trump tells Japan to build more cars in the US. Speaking on his tour of Asia, President Donald Trump urged Japan’s automakers to build more cars in the US “instead of shipping them over.”

Oil hits a 2-year high. Brent crude oil touched a high of $US62.90 a barrel, its highest since July 2015, as anti-corruption purge of top ministers and businessmen continues in Saudi Arabia.

Venezuela introduces a new 10,000 bolivar note. The note was introduced last week and is worth less than $US2.50 on the black market, the Associated Press reports.

Altice and Sprint partner up. The deal allows Altice to provide voice and data services in the US on Sprint’s network while Sprint will use Altice’s cable infrastructure to transmit cellular data and develop a 5G network, Reuters says.

Uber could make more money selling California real estate than rides in 2017. The ride-hailing app is reportedly selling its 380,000-square foot building in Oakland for $US220 million, according to the Registry. It had lost $US645 million through the first half of its fiscal year 2017.

Qatar Airways buys a stake in Cathay Pacific. The 9.6% stake, which cost 5.16 billion Hong Kong dollars ($US662 million), will give Qatar Airways more access into China, the BBC says.

Stock markets around the world are lower. China’s Shanghai Composite (-0.34%) lagged in Asia and Germany’s DAX (-0.16%) trails in Europe. The S&P 500 is set to open lower by 0.13% near 2,584.

Earnings reporting remains heavy. CVS and Michael Kors report ahead of the opening bell while AMC Entertainment, Etsy and Weight Watchers release their quarterly results after markets close.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.