10 things you need to know before the opening bell
Here's what you need to know before markets open.
1. The EU is deadlocked over its proposed $860 billion coronavirus rescue package, as a group of 'frugal' nations stall talks. The European Union's top leaders remain deadlocked over the size and scope of a proposed rescue deal for the bloc as it responds to the COVID-19 downturn.
2. Chevron nears $5 billion takeover of Noble Energy. Chevron is close to a deal to buy Noble Energy for about $5 billion, in what would be the largest oil-patch tie-up since the coronavirus pandemic delivered a shock to the industry, the Wall Street Journal reported on Monday.
3. A glove maker's stock has skyrocketed 1,000% since April, surpassing Tesla's gains. A Malaysian glove maker's stock has soared 1,000% in less than four months as the coronavirus pandemic continues to lift demand for protective gear.
4. Veteran strategist Ed Yardeni says US stocks are overvalued, and hints investors should 'go global' to find buying opportunities. Yardeni warned that US stocks are overvalued and could face a shock if COVID-19 cases continue to surge and ripple across the US, and tensions with China accelerate.
5. Wall Street's biggest influencer says Warren Buffett might look 'out of touch' but that's a key element of his success. Warren Buffett took cover during the coronavirus crash because he didn't know how the pandemic would play out, Wall Street's biggest influencer suggested in an interview with Business Insider this week.
6.Bank of America says to buy these 9 stocks poised to outperform in any market environment as they spend heavily on creating the most innovative products.
7. Morgan Stanley lays out 4 looming risks that are combining to halt the relentless rally and push stocks into 'the danger zone.'
8. Stocks are mixed. Chinese stocks climbed around 3% on Monday, while stocks in Europe are mostly down and US futures are pointing to a slightly lower open.
9. Earnings coming in. Julius Baer and Nobia 2Q 20 earnings are coming in.
10. On the economic front. The US 6-Month and 3-Month Bill auctions are due.