Reuters/Stephane Mahe
Angry Birds mascots are seen near the festival palace.
Here is what you need to know.
- Details on the next round of tariffs are coming. The Trump administration on Monday is expected to release details on a potentially new round of tariffs on $300 billion worth of Chinese goods, Bloomberg says.
- Stocks are under pressure. The S&P 500 was set to open down 1.08% near 2,850. Overnight, China's Shanghai Composite (-1.2%) led the losses in Asia and Germany's DAX (-0.7%) paced the decline in Europe.
- 2 Saudi oil tankers were attacked in UAE waters. The two oil tankers were attacked off the coast of Fujirah at 6 a.m. local time, Saudi energy minister Khalid al-Falih told the state-owned Saudi Press Agency. There were no spills or injuries, but the vessels were severely damaged.
- Oil jumps. West Texas Intermediate crude oil was up 1.2% at $62.45 a barrel.
- Bitcoin soars above $7,000. The cryptocurrency was up 12.75% from Friday's closing price, trading near $7,100 a coin. It has gained 93% this year.
- Uber suffers the biggest first-day-dollar loss in US IPO history. Uber investors who got in at the initial public offering price of $45 a share suffered a cumulative loss of $655 million on Friday.
- Unprofitable companies like Uber and Lyft are rushing to IPO and it could throw the entire market off track. "If underperformance of these blockbuster listings becomes the straw that breaks the unicorns' backs, the bull market could feel the pain," said Michael Arone, chief investment strategist for State Street Global Advisor's US SPDR business.
- There are 360 ways to add Uber to FAANG. Check them all out.
- Avengers is now the 3rd-highest grossing movie in US box-office history. Disney's "Avengers: Endgame" raked in $63.1 million at the US box office this weekend, running its domestic total to $724 million.
- Earnings season rolls on. Take-Two Interactive and Tencent Music report after the closing bell.