10 things you need to know before the opening bell
Nov 30, 2018, 17:33 IST
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Here is what you need to know.
- Trump says he will be 'very productive' at the G20 summit. President Donald Trump arrived in Argentina on Thursday, and tweeted that he has "a very busy two days planned," with the main event being trade negotiations with Chinese President Xi Jinping.
- Goldman Sachs has some low risk, high reward trading strategies to help investors profit from the G20. The bank's derivatives strategy team studied the seven periods of volatility surrounding various trade-war headlines this year and identified 21 stocks and four sectors where investors can make realtively low-risk bets by buying calls.
- China's manufacturing sector hits stall speed. The government's purcashing managers index printed 50.0 in November, its weakest reading since July 2016, and is at a level that shows the sector is neither expanding nor contracting, according to data released Friday by China's National Bureau of Statistics.
- Floyd Mayweather Jr. and DJ Khaled will each pay big fines after illegally touting ICOs. The boxing champ Floyd Mayweather Jr. and the record producer DJ Khaled will each pay fines of more than $100,000 to settle charges that they promoted initially coin offerings without disclosing they were paid for it, the US Securities and Exchange Commission said on Thursday.
- Marriott says 500 million customers had their data hacked. The hotel chain announced Friday that 500 million customers who stayed at hotels including W, Sheraton, and Westin as far back as 2014 had their information accessed, including an unspecified number who had their credit card details taken.
- Sheryl Sandburg reportedly wanted to know if George Soros was shorting Facebook's stock. Sandburg, Facebook's COO, reportedly requested opposition research on the billionaire and wanted to know if he was shorting her company's stock, after he publicly critcized the social-media network.
- Nintendo Switch sales are on track to miss Wall Street targets despite a record-setting Black Friday weekend. The Nintendo Switch saw sales jump 115% year-over-year on Black Friday weekend, but the video-game maker is on track to sell 35 million units by March 2019, shy of the 38 million units that analysts surveyed by Bloomberg are hoping for.
- The Tesla of China loses its US CEO. Padmasree Warrior, the US CEO of the Chinese electric-car maker Nio, will leave the company in December for "personal interests," according to a filing out Friday.
- Stock markets around the world trade mixed. China's Shanghai Composite (+0.81%) led the advance in Asia and Britain's FTSE (-0.7%) trails in Europe. The S&P 500 is set to open lower by 0.26% near 2,731.
- US economic data trickles out. Chicago PMI will be released at 9:45 a.m. ET. The US 10-year yield is down 2 basis points at 3.01%.