|  | | | | |  | | |  | | | | 10 Things Before the Opening Bell | | | | | | | Advertisement
 Here is what you need to know. - The trade war could shrink global output by $600 billion. The trade war could shave 0.5% off of China's gross domestic product and 0.2% off both the US's and the world's as a whole in 2021, according to a Bloomberg Economics study.
- China seizes a bank for the first time in 20 years. Chinese regulators on Friday took over Baoshang Bank for one year because of "serious" credit risks, Bloomberg reports.
- Iron ore hits a record. Sliding inventories caused Chinese iron-ore futures on Monday to hit a record high of 763.5 yuan.
- Fiat Chrysler proposes a $37 billion merger with Renault. A deal would create the world's third-largest automaker behind Volkswagen and Toyota.
- The FAA is reportedly looking into emergency procedures of older Boeing jets. The Boeing 737 Max's return to the air has been slowed as the Federal Aviation Administration looks into the emergency procedures of not only the Max but also the older generations of the 737, The Wall Street Journal reported late Friday.
- Huawei's CEO is against banning Apple in China. "That will not happen, first of all," Huawei's CEO and founder, Ren Zhengfei, told Bloomberg. "And second of all, if that happens, I'll be the first to protest."
- A private-equity pro explains how the rise of Amazon and Uber forced him to change his strategy. "Every once in a while we're finding a company where their business model advantage is that they're willing to lose more money than anyone else — at least for a while," said Jonathan Coslet, the chief investment officer of TPG Capital, at the Milken Institute Global Conference. "That's a very dangerous thing."
- Stock markets around the world are mixed. A late-day surge lifted China's Shanghai Composite (+0.61%) into positive territory, while the Euro Stoxx 50 (-0.45%) is losing ground in Europe. The S&P 500 was set to open little changed near 2,824.
- Earnings reporting is light. Nio reports ahead of the opening bell.
- US economic data flows. S&P Case Shiller home prices will be released at 9 a.m. ET before consumer confidence and Dallas Fed manufacturing are due out at 10 a.m. ET and 10:30 a.m. ET. The US 10-year yield is down 3.7 basis points at 2.28%.
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