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10 things you need to know before the opening bell

Nov 13, 2017, 17:11 IST

A farmer spreads red chili to dry at a village in Huaibei, Anhui province, China.Reuters/China Stringer Network

Here is what you need to know.

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Trump touts progress on trade. "We've made some very big steps with respect to trade, far bigger than anything you know," Trump told reporters in Manila on the sidelines of a summit with leaders of Southeast Asian and East Asian nations.

The pound gets whacked following report Theresa May's leadership is in jeopardy. The British pound trades down 0.79% at 1.3092 following a report 40 Conservative members of parliament have agreed to sign a letter of no confidence in UK Prime Minister Theresa May.

China's banks are tightening lending. In October, Banks extedned 663.2 billion yuan ($99.83 billion) in net new yuan loans, Reuters reports, citing People's Bank of China data released on Monday.

Venezuela meets with its creditors. The meetings are a last-ditch effort for the debt-ridden country to avoid default, Reuters says.

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Bitcoin is all over the place. The cryptocurrency hit a low of $5,605 late Sunday, down nearly 29% from Wednesday's high, as backers of Segwit2X sold the cryptocurrency in favor of bitcoin cash. Bitcoin has recouped a good portion of its losses and trades near $6,520.

Wall Street bonuses are going up. Bonuses could climb as much as 10% this year, Reuters says, citing a report from compensation firm Johnson Associates.

Uber and Softbank finally reach a deal. While Uber hasn't disclosed Softbank's investment, Reuters reports that Uber will receive $1 billion (£765 million) in funding and SoftBank will purchase $9 billion (£6.8 billion) of existing shares.

Alibaba's Singles Day sets a record. The 24-hour event raked in $25.3 billion worth of sales, making for a 40% increase from last year's record.

Stock markets around the world are lower. Japan's Nikkei (-1.32%) trailed in Asia and France's CAC (-0.24%) lags in Europe. The S&P 500 is set to open down 0.14% near 2,579.

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Earnings reports trickle out. Tyson Foods reports ahead of the opening bell.

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