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Here's what you need to know. 1. HSBC is sinking after the bank reported an 'unacceptable' 24% decline in profits in its latest earnings. Acting CEO Noel Quinn announced that the company would be remodelling. 2. The EU had agreed to delay Brexit till January 31 2020. EU leaders met on Monday and agreed unanimously to grant an extension, which parliament could use to hold a general election. 3. Tiffany is set to soar nearly 20% after Louis Vuitton made a $14.5 billion bid for the company. Tiffany confirmed talks this morning. 4. Spotify revenue beats estimates on higher paid subscriber addition. The music streaming company reported a better-than-expected 113 million in total paid subscribers for its premium service. 5. Microsoft is set for a record open after beating Amazon to a controversial contract with the Pentagon worth $10 billion. The contract is for Microsoft's cloud computing services but could face further competition from Amazon according to Bloomberg. 6. China is going bullish on blockchain. An official from China's state bank urged the country's commercial banks to "step up their application" of blockchain and "embrace digital finance." 7. Brazil's benchmark interest rate will be cut to a record low of 5.00% on Wednesday, according to the unanimous view in a Reuters poll of economists. The central bank is battling to spur economic growth and prevent inflation from falling further below target. 8. Stocks are rising to start the week. US futures underlying the S&P 500 (+0.3%) and the Nasdaq (+0.4%) are rising. The German Dax (+0.4%) is rising but the Euro Stoxx 50 is flat. In Asia, the Nikkei (+0.3%) rose as did the Shanghai Composite (+0.9%) and the Hang Seng (+0.8%). 9. Today is a massive day for earnings. Phillips is the highlight. 10. Today is a quieter day for data. Market watchers will be keeping an eye on the Chicago Fed national activity index. | 
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