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November 27, 2018 | | Advertisement
 Here is what you need to know. - Trump says he's ready to go all out in the trade war with China. President Donald Trump on Monday told The Wall Street Journal it was "highly unlikely" that he would reach a trade deal with Chinese President Xi Jinping at the G20 summit in Argentina and that he was prepared to place tariffs on the remaining $267 billion worth of Chinese goods imported by the US — including iPhones and other consumer products.
- Cyber Monday projected to rake in a record $7.9 billion of sales. A late-evening forecast from Adobe estimated that sales would be about $100 million more than previously forecast, Reuters reports.
- Amazon says Black Friday and Cyber Monday 2018 were the biggest shopping days in its history. The e-commerce giant said Cyber Monday was the biggest shopping day in its history and "millions" more products were sold between it and Thanksgiving Day than were sold during the same period in 2017.
- Bank of America's $2.8 trillion wealth-management CIO reveals his biggest market fear. Chris Hyzy — the chief investment officer for Bank of America's Global Wealth and Investment Management division — explains why a decline in dollar liquidity — if left unchecked — could trigger the next recession.
- Microsoft briefly passes Apple as the largest US company. Microsoft on Monday briefly surpassed Apple as the most valuable company in the US, with a market capitalization of about $812 billion. The last time Microsoft finished a trading session with a higher market cap than Apple was in 2010.
- Tesla's sales in China crashed in October amid the trade war. The electric-car maker sold just 211 vehicles in China in October, down 70% year-over-year, Reuters says, citing China Passenger Car Association data.
- Alibaba founder Jack Ma has been outed as a member of China's Communist Party. Ma, China's richest person, is one of 100 guests set to be honored by Beijing for their contributions to the country's economy, according to the state-run People's Daily.
- Stock markets around the world are in the red. Hong Kong's Hang Seng (-0.17%) slipped in Asia, and Britain's FTSE (-0.29%) trails in Europe. The S&P 500 is set to open down 0.38% near 2,663.
- Salesforce reports after the closing bell. It's expected to earn an adjusted $0.50 a share on revenue of $3.37 billion, according to analysts surveyed by Bloomberg.
- US economic data flows. FHFA House Price Index and S&P Case-Schiller home prices will be released at 9 a.m. ET before consumer confidence crosses the wires at 10 a.m. ET. The US 10-year yield is unchanged at 3.05%.
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