- Reuters/Massimo Pinca
Here is what you need to know.
Trump reportedly wants harsh steel and aluminum tariffs. President Donald Trump told confidants he wanted a 24% tariff on steel imports and up to a 10% tariff on aluminum imports, Bloomberg says.
Hedge funds did something highly unusual during the market’s recent meltdown – and it’s a great sign for stocks. Goldman Sachs argues that the fact losses in the most popular stocks with hedge funds were muted during the recent correction means the sell-off was spurred by technical factors rather than fundamentals.
New York is quietly working to prevent a major cyberattack that could bring down the financial system. New York is one of the first states to implement new cybersecurity regulations, but experts warn the efforts may still not be enough.
Chinese investors are buying stocks with ’emperor’ in the name after Xi Jinping scraps term limits. The Communist Party set the stage for President Xi Jinping to stay in office indefinitely, sending Shenzhen Emperor Technology up almost 10% in Monday’s action, Reuters says.
Berkshire Hathaway sees a big boost from the GOP tax cuts. The Warren Buffett-led conglomerate saw its net worth surge by $65 billion in 2017, almost half of which came from tax proceeds from the recently passed Republican law.
“Black Panther” is off to the 2nd-best start of all time. The Disney/Marvel Studios hit scored an estimated $108 million this past weekend, according to BoxOffice Pro, raising its domestic total for two weeks to $400 million.
Harvey Weinstein’s film studio to file for bankruptcy following #MeToo allegations. The board of directors of The Weinstein Company said late Sunday that the New York film and TV studio planned to file for bankruptcy after talks to sell it collapsed, several media outlets report.
Earnings reports keep coming. Fitbit reports after the closing bell.
US economic data flows. New-home sales will be released at 10 a.m. ET, and Dallas Fed manufacturing will cross the wires at 10:30 a.m. ET. The US 10-year yield is down 1 basis point at 2.86%.