Reuters/Hamad I Mohammed
A Saudi woman celebrates as she drives her car in her neighborhood, in Al Khobar, Saudi Arabia.
The Trump administration is planning to stop China from taking over some US firms. The US Treasury Department is said to be planning new curbs that would prevent any company with 25% or more Chinese ownership from investing in US companies involved in an "industrially significant technology," the Wall Street Journal reports.
The bank for central banks is blaring the siren on a new debt crisis that could cause a long and painful recession. The Bank for International Settlements said in a report released Sunday that ballooning levels of public and private debt can boost growth in the short term, but are creating a "trap" that is going to be hard to escape.
Wall Street is more worried than ever that an all-out trade war will plunge the economy into recession. A growing number of Wall Street experts are worried the trade tensions being escalated by President Donald Trump could cause a global recession.
China will lift part of its "Great Firewall." China wants to transform Hainan Island, the "Hawaii of the East," into a a free-trade zone and tourist hub, and has released plans to give tourists access to Facebook, YouTube, and Twitter in parts of two cities, according to a post on a local government website that has since been taken down.
Oil slides after OPEC reaches a deal. West Texas Intermediate crude oil fell as much as 1.6% Monday after OPEC and non-OPEC countries agreed to boost production.
Erdogan wins re-election in Turkey. Recep Tayyip Erdogan won re-election with 52.5% of the vote, sending the Turkish lira up as much as 3% before paring its gains.
The SEC is investigating whether companies round up their EPS. The US Securities and Exchange Commission is investigating at least 10 companies for potentially rounding up their earnings results after a research paper found an abnormally low amount of the number "4" in the tenths place of their earnings per share, the Wall Street Journal says. Having a "5" or higher would allow companies to round up.
Stock markets around the world are lower. Hong Kong's Hang Seng (-1.29%) led the losses in Asia and Germany's DAX (-1.3%) trails in Europe. The S&P 500 is set to open down 0.51% near 2,740.
Earnings reporting is light. Carnival reports ahead of the opening bell.
US economic data keeps coming. New home sales and Dallas Fed manufacturing will cross the wires at 10 a.m. ET and 10:30 a.m. ET respectively.