Reuters/Miraflores Palace/Handout
Venezuela's President Nicolas Maduro holds a sign showing the value of a Petro compared with the new Venezuelan currency Bolivar Soberano (Sovereign Bolivar), as he speaks during a meeting with ministers at Miraflores Palace in Caracas, Venezuela.
The world's biggest shipping company warns Trump's trade war could hurt America more than anyone else. While giving a presentation at his company headquarters on Friday, Maersk CEO Soren Skou said Trump's trade war could impact US GDP by up to 4%.
The midterm elections could paralyze a key instrument of Trump's agenda for the US economy. History suggests the Republicans will lose their House majority in the midterm election, and prevent the Trump administration from producing results similar to the recently announced tax overhaul, according to Steve Rattner, the CEO of Willett Advisors.
Venezuela devalues its currency and backs it with crypto. On Saturday, Venezuelan President Nicolas Maduro devalued the country's currency, the bolivar, by 95% and tied it to its oil-backed cryptocurrency, Bloomberg says. The new currency will be called the "sovereign bolivar."
Money is pouring into Turkish stocks. Investors bought $191 million worth of Turkish equities last week, the biggest inflow since 2013, as the country's currency, the lira, continued to fall.
It looks like 'Y2K all over again' for stocks as evidence of an imminent crash continues to pile up. The choppy six-month recovery from the February correction has eerily mirrored the five-month upswing that followed the stock-market meltdown of March-April 2000 - which led to the bursting of the dotcom bubble.
Saudi Arabia is talking to an electric-car maker about a deal - and it's not Tesla. Saudi Arabia's sovereign wealth fund, Public Investment Fund, is in talks with privately-held Lucid Motors for an investment worth more than $1 billion that would give it a majority stake, Reuters says.
Pepsi is buying SodaStream. The deal pays SodaStream shareholders $3.2 billion in cash, or $144 a share - a 32% premium to Friday's closing price.
Former Lehman Brothers staff are hosting a secret party on the 10-year anniversary of the bank's collapse. Hundreds of former Lehman staff are set to attend an event in London on September 15, commemorating the 10-year anniversary of the bank's demise, Financial News reports.
Stock markets around the world are higher. Hong Kong's Hang Seng (+1.41%) led the gains in Asia and Germany's DAX (+1.11%) is out front in Europe. The S&P 500 is set to open up 0.22% near 2,857.
Earnings reports trickle out. Estee Lauder reports ahead of the opening bell.