10 things you need to know before the opening bell
Here is what you need to know.1. Airbnb CEO Brian Chesky said that WeWork's IPO fiasco has given tech companies a lesson in responsibility. Chesky, who unsurprisingly tried to make a distinction between the two companies, said WeWork was "a growing-up experience for a lot of founders."Advertisement
2. Trump's tariffs will 'scorch' growth in 2020 and job losses are likely, says UBS. The Swiss bank expects GDP growth to average at 1.1% in 2020.
3. Goldman Sachs will let people appeal their Apple Card credit limit after allegations of sexist algorithms. Retail bank CEO Carey Halio said customers will be able to appeal their credit limit if they think it's suspiciously low.4. About 60% of federal oil and gas drilling leases offered since 2017 are located in areas that are at risk of shortages and droughts, according to a new report. "Oil and gas leasing in water-stressed areas has been largely unscrutinized but poses threats to water users across the West," author Jenny Rowland Shea said.
5. Huawei is set to give staff a $286 million bonus for helping it ride out US curbs. The world's largest telecoms equipment provider has said it has been trying to find alternatives to US hardware after the nation all but banned it in May from doing business with American firms, disrupting its ability to source key parts.6. Trump is expected to delay a decision on European auto tariffs. The president is expected to announce this week he is postponing a decision on whether to slap tariffs on cars and auto parts imported from the European Union, likely for another six months, EU officials said.7. Disney Plus already has nearly 2 million subscribers in the US before launch, according to data firm Jumpshot. Disney Plus has 1.9 million preorder subscribers ahead of its launch on Tuesday, according to a new report.Advertisement
8. Stocks are edging upwards Tuesday. US futures underlying the S&P 500 (+0.1%) and the Nasdaq (+0.1%) are pushing up. Stocks are climbing in Europe, with the DAX (+0.6%) rising as is the Euro Stoxx 50 (+0.4%). In Asia, stocks closed in the green, with the Nikkei (+0.8%), Shanghai Composite (+0.2%) and the Hang Seng (+0.5%) higher.
9. Today is a quieter earnings day. British telecoms giant Vodafone is the highlight.10. There is a stack of data on the docket. IBD economic optimism and the ISM-NY business conditions index are the standouts for market-watchers.Advertisement
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