10 things you need to know before the opening bell
Here is what you need to know.
- The US could blacklist the Chinese survaillence firm Hikvision. The White House is considering a ban on exports of US components to Hikvision, similar to the one imposed on Huawei, according to The New York Times.
- The trade war could put a $600 billion dent in the global economy. If trade relations continue to deteriorate, global growth domestic product would fall by 0.7%, or $600 billion, by 2021, said the Organization for Economic Cooperation and Development in a report released Tuesday.
- Tesla short-sellers are making a killing in May. Traders betting against Tesla's stock have raked in more than $1 billion of profits so far in May.
- Nordstrom had a rough first quarter. The retailer posted earnings, revenue, same-store sales, and guidance that fell short of Wall Street's expectations.
- Huawei's CEO buys iPhones. "iPhone has a good ecosystem and when my family are abroad, I still buy them iPhones, so one can't narrowly think love for Huawei should mean loving Huawei phones," Huawei CEO Ren Zhengfei said, according to The South China Morning Post.
- 15 companies that could get taken out in the next 12 months. Morgan Stanley looked at market cap, debt-to-assets, dividend yield, and other things, and says these 15 companies are most likely to be taken over.
- George Soros isn't always right. Here are eight predictions made by the billionaire investor - and their outcomes.
- Stock markets around the world are mostly higher. Hong Kong's Hang Seng (+0.18%) led the gains in Asia and Britain's FTSE (+0.46%) was out front in Europe. The S&P 500 was set to open little changed near 2,864.
- Earnings reports keep coming. Lowe's and target report ahead of the opening bell while L Brands releases its quarterly results after markets close.
- US economic data is light. The minutes from the Fed's May 1 meeting will cross the wires at 2 p.m. ET. The US 10-year yield is unchanged at 2.43%.