- Reuters/Enrique Calvo
Here is what you need to know.
Stocks are flashing a major sell signal. Wall Street analysts showed “extreme bullishness” at the end of September, typically a “reliable contrarian indicator,” according to a survey conducted by Bank of America Merrill Lynch.
Australia keeps policy on hold. The Reserve Bank of Australia held its benchmark interest rate unchanged at 1.50% for a 14th straight month but noted that its confidence in the labor market was growing.
Tesla’s Model 3 production misses. The electric-car maker produced 260 Model 3 sedans in the third quarter after previously announcing it planned to produce 1,500 in September alone and ramp up to 20,000 cars a month in December.
Equifax says the hack may have affected more people than previously thought. Following Monday’s closing bell, the company said 145.5 million consumers may have been affected by the data breach, 2.5 million more than previously estimated.
Exxon Mobil is dethroned as the world’s top energy company. Gazprom has passed Exxon Mobil as the world’s top energy company, according to a ranking based on asset worth, revenue, profit, and return on invested capital, S&P Global Platts data showed.
Facebook says 10 million people saw Russia-linked ads. The ads were designed to stir division in the US before and after the 2016 presidential election.
Immelt steps down from GE’s board. “Jeffrey R. Immelt retired as a director and Chairman of General Electric Company’s Board of Directors (the ‘GE Board’) in light of Mr. Immelt’s determination that the CEO transition has proceeded smoothly and that John L. Flannery, Chief Executive Officer, director and Chair-Elect, was ready to succeed Mr. Immelt as Chairman of the Board,” a statement released by GE on Monday said.
Stock markets around the world are higher. Japan’s Nikkei (+1.05%) led the charge in Asia, and France’s CAC (+0.23%) is out front in Europe. The S&P 500 is set to open little changed near 2,529.
Earnings reports trickle out. Lennar reports ahead of the opening bell.
Economic data is light. US auto sales will be released throughout the day.