10 things you need to know before the opening bell

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10 Things Before the Opening Bell
 
 

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Here is what you need to know. 

1. Saudi Aramco is reportedly kicking off its massive IPO this Sunday and plans to debut trading on December 11. Three sources told Reuters that Aramco was looking to start the process of floating 1% to 2% on the Saudi Arabian Tadawul market, on November 3, and start trading a little more than a month later.

2. Beyond Meat's shares are sinking as locked-in investors see 'the time to cash out'. The stock sank 9% in premarket. The lockup period — or time when investors who bought into the stock pre-IPO are unable to sell it — expires on Tuesday.

3. TikTok's owner is denying it wants to go public next year. TikTok is denying a Financial Times report that it plans to IPO in Hong Kong as early as Q1 of next year.

4. Medics are treating German finance minister Peter Altmaier after he falls from stage. Television footage showed Altmaier, stepping down from the podium at the end of his speech. The feed then cut to the audience applauding, before they gasped and their hands went to their mouths at the sight of his fall.

5. BlackRock CEO says the world will see higher equity markets in 2020. Larry Fink said BlackRock saw positive changes in emerging economies including Saudi Arabia, speaking at the Saudi Future Investment Initiative conference.

6. Trump reportedly tried to stop Amazon from winning a $10 billion cloud deal, but experts say Microsoft won on its own merits. At least one expert, however, thinks the shadow of Trump over the JEDI cloud deal may end up actually helping Amazon Web Services in the long run.

7. China will eliminate all restrictions on foreign investments not included in its self-styled "negative lists," a vice commerce minister said on Tuesday. It will also "neither explicitly nor implicitly" force foreign investors and foreign companies to transfer technologies, Wang Shouwen told a news conference in Beijing.

8. Stocks are muted on Tuesday. US futures underlying the S&P 500 (-0.1%) and Nasdaq (+0.1%) are mixed. In Europe, stocks are falling with the DAX (-0.2%) and Euro Stoxx 50 (-0.2%) sliding. In Asia, stocks closed mixed also with the Nikkei (+0.5%) up, but Shanghai Composite (-0.9%) and the Hang Seng (-0.4%) fell. 

9. There is a stack of earnings today. BP released earnings this morning as did Pfizer. 

10. There's lots of data being released later. Consumer confidence is the highlight.

 
 
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