10 things you need to know before the opening bell

Posted On 4:56 AM // Leave a Comment


Learn More about BI Prime	View online

10 Things Before the Opening Bell

Here is what you need to know.

1. The WTO will reportedly give Trump a green light to slap tariffs on a record $7.5 billion worth of EU goods this week. The EU will have to wait until early next year to learn the amount of retaliation it can take against Boeing.

2. Forever 21, once among America's fastest-growing fast-fashion retailers, has filed for bankruptcy. Linda Chang, the company's executive vice president, told The New York Times that the retailer would soon cease operations in 40 countries and close up to 350 stores globally.

3. Saudi Arabia's crown prince warned oil prices could go 'unimaginably high' unless 'firm action' is taken on Iran. In an interview with CBS' "60 Minutes," bin Salman said the strikes were an act of "stupidity" and that "only a fool would attack 5% of global supplies."

4. Sex, tequila, and a tiger: Employees inside Adam Neumann's WeWork talk about the nonstop party to attain a $100 billion dream and the messy reality that tanked it. Business Insider talked to 20 current and former WeWork employees, executives, and business partners about life inside one of the most controversial and fastest-growing startups of all time.

5. UK-based digital banking app Revolut is set to hire around 3,500 staff as it expands into 24 new markets thanks to a new global deal with payments giant Visa. Revolut has grown at breakneck pace since its launch in July 2015 and now boasts more than 8 million customers.

6. Hong Kong private home prices fell for the third straight month in August, according to government data released on Monday, as increasingly violent street protests take a toll on the economy. Prices dropped 1.37% — the biggest percentage decline since December 2018, when prices dropped 2%.

7. Mexico's Pemex is looking to take control of US oil firm Talos Energy's billion-barrel find. When US oil firm Talos Energy found nearly a billion barrels off Mexico's southern Gulf coast two years ago, it marked the first discovery by a foreign firm since the oil industry was nationalized eight decades earlier.

8. Stocks are mixed on Monday with US equities set to edge higher. US futures underlying the S&P 500 (+0.2%) and the Nasdaq (+0.3%) are both rising. In Europe, the Dax was down marginally and the Euro Stoxx was flat. Asian stocks were mixed at the close, with the Nikkei (-0.6%) and Shanghai Composite (-0.9%) down, while the Hang Seng (+0.5%) rose.

9. There are lots of earnings out later. One highlight is River and Mercantile, the London finance firm.

10. There's lots of data out this week. Today's key piece is the Chicago purchasing managers index.