10 things you need to know before the opening bell
Here is what you need to know.
1. Trump will put the UK first in line for a trade deal after Brexit, says US National Security Advisor. "To be clear, in the Trump administration, Britain's constantly at the front of the trade queue, or line as we say," John Bolton said.2. Stocks are sliding due to a 'smorgasbord of risks' across Argentina, Italy, Hong Kong, and Singapore. Rising political fears in Argentina and Italy, ongoing protests in Hong Kong, and a growth warning from Singapore spurred investors to drop riskier assets and flee to gold and other havens.
3.Verizon is selling Tumblr to the owner of WordPress, and it sounds like the sale price is about 2% of the $1 billion Tumblr was once worth. A source told Axios the price was "well below $20 million"- an astounding discount to the $1.1 billion that Tumblr fetched when Yahoo acquired it in 2013.
4. China's top technology, e-commerce and consumer electronic firms are set to report a sharp slowdown in revenue growth for the June quarter. The bruising trade war with the United States has weighed on the Chinese economy and hurt consumer spending.
5. The FBI reportedly raided financier Jeffrey Epstein's private island off the coast of St. Thomas, days after he died of an apparent suicide. The search was led by a task force for the US Attorney's Office for the Southern District of New York, according to NBC News.
6. Jeff Bezos donated $100 million to fighting homelessness - and in an unusual move, he's letting the charities control how it's spent. Typically, funders are stringent with their donations, restricting how the money can be spent and asking for quarterly updates.
7. A German tourism group expects the Boeing 737 Max's grounding to cost it over $300 million this year. Tui's profits more than halved in the third quarter.8. Stocks are sliding today around the world. US futures are down, with the S&P 500 (-0.4%) and Nasdaq (-0.6%) down. In Europe, the Dax (-1.0%) fell as did the Euro Stoxx 50 (-0.7%). Asia closed lower, with the Nikkei 225 (-1.1%), Shanghai Composite (-0.6%) and Hang Seng (-2.1%) all down.
9. Earnings are coming out. Today's highlight is South Korean tech giant LG.
10. There's lots of data on the docket today. Inflation data, specifically the consumer price index excluding food and energy, is scheduled for release.