10 things you need to know before the opening bell
Here is what you need to know.
1. Chinese manufacturing staged a surprise recovery - rallying to an 8-month high in November. A state survey returned its strongest reading since March, while a private poll signaled the sector expanded at its fastest rate in three years.2. Warren Buffett said he bid about $5 billion for Tech Data, calling it 'our kind of business.' Berkshire Hathaway made an unsuccessful play for the technology distributor after an approach from Bank of America, a look at its finances, and a visit to its headquarters.
3. Huawei's CEO said his arrested daughter should be proud to be a bargaining chip in the US-China trade war. The Chinese smartphone giant's boss, Ren Zhengfei, said his daughter and CFO Meng Wanzhou should feel honored to be caught in the crossfire of the dispute.
4. The cryptocurrency community is up in arms after a US citizen gave a talk on blockchain in North Korea and was then arrested. Virgil Griffith, who works at the Ethereum Foundation, was accused by federal prosecutors on Friday of giving a talk at a cryptocurrency conference in Pyongyang and handing over technical information.
5. Google is facing another EU probe about how it collects and uses data, months after receiving a $1.7 billion antitrust fine. The search-and-advertising titan faces yet another antitrust investigation after being slapped with three multibillion dollar fines in as many years.
6. Retailers see biggest-ever Cyber Monday after record online Black Friday. US retailers launched a raft of deals earlier than usual over the weekend, as they tried to sustain the momentum of a record $11.6 billion in online sales on Thanksgiving and Black Friday.
7. Renault is close to finalizing the shortlist for its new CEO. The French carmaker will shortly narrow the choices for its next leader to a handful of names, its chairman said on Monday.8. Stock markets are mixed. The Dow (-0.4%), S&P 500 (-0.4%), and Nasdaq (-0.5%) are set to open lower. European markets are drifting lower with Germany's DAX (-0.2%), Britain's FTSE 100 (-0.1%), and the Euro Stoxx 50 (-0.3%) all down. Asian stocks rose with China's Shanghai Composite (+0.1%), Hong Kong's Hang Seng (+0.4%), and Japan's Nikkei (+1%) all up.
9. There are a few notable earnings out today. Mesa Air and Medley Capital are reporting results.
10. It's a big day for data. The latest IHS Markit and ISM manufacturing PMI readings are out today.