- Reuters/Carlo Allegri
Here is what you need to know.
Hurricane Irma hammers Florida. Irma made landfall in the Florida Keys as a Category 4 hurricane on Sunday morning; it was downgraded to Category 1 on Monday as it continued to make its way across Florida.
Parliament is set to vote on Theresa May’s EU Withdrawal Bill. Members of Parliament will vote Monday evening in London on the bill, which will allow all existing European Union laws to be transferred over to British law, after which the government will be free to rewrite or repeal them at will.
London remains the world’s top financial center. London beat out New York, Hong Kong, and Singapore, Reuters says, citing the Z/Yen global financial centers index, which ranks 92 financial centers based on factors such as infrastructure and access to high-quality employees.
The chances of another rate hike this year are looking bleak. There’s just a 28.7% probability that the Federal Reserve raises rates again in 2017, according to Bloomberg’s World Interest Rate Probability data.
Traders are trimming their US dollar shorts. Last week, traders cut their US dollar short positions by $1.4 billion to $6.5 billion, according to US Commodity Futures Trading Commission data released late Friday.
Bitcoin is reeling following reports China is shutting down cryptocurrency exchanges. Bitcoin has slumped by more than $500 a coin since a Friday report from Caixin said China would be banning cryptocurrency exchanges. On Monday, Bloomberg suggested that while trading would be banned on domestic exchanges, it would be allowed over the counter.
Amazon is looking for a second headquarters – here are all the cities being considered. The e-commerce giant is looking to invest $5 billion on construction of a second headquarters, which it hopes will be home to 50,000 employees.
Apple’s redesigned iPhone will be called the “iPhone X.” The more expensive, premium model iPhone that is expected to be announced Tuesday will be called the “iPhone X,” according to code discovered by developer Steve Troughton-Smith.
Snap is at its highest level since July. Snap has gained about 36% from its August low, and Friday’s close of $15.34 a share was its best since July 13.
Stock markets around the world are higher. Japan’s Nikkei (+1.41%) led overnight, and Germany’s DAX (+1.12%) paces the gains in Europe. The S&P 500 is set to open higher by 0.67% near 2,478.