5 things to know before the stock market opens Tuesday - CNBC

1. Dow could see a 3-session slide, sinking further from July's all-time highs

Traders on the floor of the New York Stock Exchange.

Brendan McDermid | Reuters

U.S. stock futures were pointing to a lower open on Wall Street on Tuesday, a day after the Dow Jones Industrial Average, S&P 500 and Nasdaq declined for the second straight session. Investors continued to pile into bonds, pushing yields inversely lower on concerns about the U.S.-China trade war — and increasingly, the anti-government protests in Hong Kong. The Dow, S&P 500 and Nasdaq were all roughly 5% off their all-time highs set in July. China's central bank, to the chagrin of the Trump administration, set its currency weaker than 7-yuan-per-dollar for the fourth consecutive session.

2. Bonds are close to flashing their most severe recession red flag yet

The 10-year Treasury yield remained under some pressure Tuesday as the bond market moved closer to sending its biggest recession signal yet. While various yield curve pairs inverted months ago, the 2-year Treasury yield to 10-year spread looks set to go upside down any day now. The yield curve, the plot of U.S. interest rates based on maturity dates, is at its flattest level since 2007 before the Great Recession. An inversion, which happens when shorter-term rates move higher than longer-term ones, has historically been a reliable recession signal.

3. Hong Kong protests close the airport for second day as China warns demonstrators

Protesters occupy the departure hall of the Hong Kong International Airport during a demonstration on August 13, 2019 in Hong Kong, China.

Anthony Kwan/Getty Images

Pro-democracy protesters crippled operations at Hong Kong International Airport for a second day Tuesday, forcing authorities to cancel all remaining flights out of the Chinese territory. State media outlets in China warned that Hong Kong demonstrators are "asking for self-destruction" as they released a video showing Chinese military vehicles amassing near the border of the city. Hong Kong's embattled leader said that "lawbreaking activities in the name of freedom" were damaging the rule of law.

4. CBS nears finalization of a merger valuing Viacom at about $12 billion

The Viacom office in Hollywood, California.

Lucy Nicholson | Reuters

CBS and Viacom are finalizing their merger agreement, negotiating a share exchange ratio that would value Viacom at nearly $12 billion. The talks are ongoing, and nothing has been finalized, people familiar with the matter told CNBC on Monday. Shari Redstone, whose National Amusements is the principal owner of both companies, has advocated for a deal. CBS and Viacom nearly merged a year ago before a rift over who would run the combined company derailed discussions.

5. Shares of Uber, just months after their NYSE debut, hit an all-time low

Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks during an interview in Tokyo, Japan, on Wednesday, July 3, 2019.

Akio | Bloomberg | Getty Images

Uber shares were stable in premarket trading Tuesday after falling to their lowest close ever. The stock, still reeling from last week's massive second-quarter loss, dropped 7.6% to $37. Since its New York Stock Exchange debut in May, Uber has declined about 18% from its initial public offering price of $45 per share. On Monday, early Uber investor Bradley Tusk told CNBC that CEO Dara Khosrowshahi lacks the "ruthless innovation" mentality of the company's early days that turned it into a global phenomenon, and the stock reflects it.

CNBC's before the bell news roundup

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https://www.cnbc.com/2019/08/13/5-things-to-know-before-the-stock-market-opens-august-13-2019.html

2019-08-13 12:02:21Z
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Asia shares slip as Hong Kong unrest, Argentine peso crash rattle investors - Investing.com

2/2 © Reuters. Men walk past in front of an electric screen showing Japan's Nikkei share average outside a brokerage in Tokyo 2/2

By Stanley White

TOKYO (Reuters) - Asian shares slumped on Tuesday as fears about a drawn out Sino-U.S. trade war, protests in Hong Kong and a crash in Argentina's peso currency drove investors to safe harbors like bonds, gold, and the yen.

MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1%. Chinese stocks fell 1%, while Hong Kong's main market index tumbled 1.7% to a seven-month low.

"The protests in Hong Kong are negative for stocks, which were already in an adjustment phase because there is talk that the trade war will trigger a recession," said Kiyoshi Ishigane, chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co.

Hong Kong's airport, the world's busiest cargo airport, reopened on Tuesday after protesters managed to close it down the previous day. The mood remained cautious as the increasingly violent demonstrations have plunged the Chinese-ruled territory into its most serious crisis in decades.

The weeks-long protests began in opposition to a bill allowing extraditions to mainland China but have quickly morphed into the biggest challenge to China's authority over the city since it took Hong Kong back from Britain in 1997.

Japan's was also hit hard, down a sharp 1.2% and on course for its biggest daily decline in a week.

In early European trade, the pan-region were unchanged.

U.S. stock futures were 0.23% higher in Asia, but that did little to calm the fragile mood.

Stocks in Singapore shed 1.1% to reach their lowest since June 6 after the government slashed its full-year economic growth forecasts. The city state is often seen as a bellwether for global growth because of its importance as a key trade hub.

The selling in regional markets came as Wall Street stocks took a beating on Monday, with the losing 1.23%.

Sentiment was already weak due to increasing signs that the United States and China will not quickly resolve their year-long trade war. Markets were hit with further turbulence after protesters managed to close down Hong Kong's airport on Monday.

Traders were also on edge after market-friendly Argentine President Mauricio Macri suffered a mauling in presidential primaries, increasing the risk of a return to interventionist economic policies.

Benchmark 10-year Treasury yields were near the lowest in almost three years, gold was pinned close to six-year highs, and the yen was within a whisker of a seven-month peak versus the dollar in a sign of the heightened anxiety in financial markets already battered by global growth woes.

"Long-term rates will continue to fall, and stocks will adjust lower, but this is temporary. Major central banks are cutting rates, which will eventually provide economic support," Mitsubishi UFJ's Ishigane said.

Analysts said that trading could be subdued as many investors are off for summer holidays. Yet, there was no shortage of gloomy news for investors looking to catch their breath from several months of market ructions.

Argentina's peso collapsed on Monday, losing roughly 15% of its value to 52.15 per dollar after crumbling to an all-time low of 61.99 earlier. Voters snubbed Macri by giving the opposition a surprisingly bigger-than-expected victory in Sunday's primary election.

The Merval stock index () crashed 30% and declines of between 18-20 cents in Argentina's benchmark 10-year bonds left them trading at around 60 cents on the dollar or even lower.

Refinitiv data showed Argentine stocks, bonds and the peso had not recorded this kind of simultaneous fall since the South American country's 2001 economic crisis and debt default.

The grim backdrop was enough to push investors into safe-havens, and U.S. Treasury yields dropped across the board on Monday as trade worries and political tensions supported safe-haven assets.

In Asia on Tuesday benchmark 10-year Treasuries yields fell to 1.6403%. On August 7 yields had skidded to 1.5950%, the lowest since October 3, 2016.

rose 0.47% to $1.518.43 per ounce, near the highest in six years.

The yen last fetched 105.41 per dollar, and was within striking distance of 105.03, its strongest since the January 3 flash crash.

Oil prices edged slightly lower in Asian trading as expectations that major producers will continue to reduce supplies ran into worries about sluggish economic growth.

U.S. West Texas Intermediate futures fell 0.22% to $54.81 a barrel.

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2019-08-13 05:39:00Z
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Saudi Aramco's profit; Hong Kong protests; BlackRock's private equity deal - CNN

The rare financial disclosure coincides with renewed interest in a potential initial public offering by Saudi Arabia's state oil producer, and bolsters its status as the world's most profitable company.

Apple (AAPL), for comparison, generated profit of $31.5 billion in the first six months of its financial year.

Aramco has been more public about its finances recently as Saudi officials consider whether to list shares in the company in order to fund projects that could wean the economy off its addiction to oil.

An IPO that was planned for 2018 never materialized. A lack of transparency over the size of the country's energy reserves had caused skepticism about the potential sale and the value of Aramco.

But plans for a public listing as early as next year are now being accelerated following positive investor reaction to a bond sale in April, according to the Wall Street Journal.

2. Hong Kong protests: As protests in Hong Kong escalate, the ramifications for businesses and travelers are growing.

The Hong Kong International Airport Authority has canceled all flights scheduled to depart the major travel hub Monday evening because of a mass demonstration. Flights bound for Hong Kong that have not yet taken off were also canceled.

Shares in Hong Kong's flagship airline, Cathay Pacific (CPCAY), were already down almost 5% on Monday. The company said over the weekend it would cooperate with a directive from China's aviation authority that banned staff from flying to, from and over mainland China if they participate in or support the protests.

An internal memo sent by CEO Rupert Hogg to staff on Monday warned that the carrier has "has a zero tolerance approach to illegal activities."

3. BlackRock deal: BlackRock (BLK), the world's largest asset manager, has cut a flashy deal as part of its push into private equity.

The company said over the weekend that it had made a $875 million investment in Authentic Brands, the company that owns Sports Illustrated, Nine West and Juicy Couture. That makes it the company's largest shareholder.

The investment is the first for BlackRock's new private-equity fund, Long Term Private Capital, which the company said in April was ready to start investing after securing $2.75 billion.

4. Global market overview: US stock futures point lower as investors turn their attention to the protests in Hong Kong.

The Dow is set to open down 100 points, or 0.4%. The S&P 500 and the Nasdaq are set to fall a similar amount.

European markets were largely lower in early trading. Britain's FTSE 100 and France's CAC 40 both shed 0.2%. Germany's DAX rose 0.1%.

Stocks in Asia were mixed. Hong Kong's Hang Seng finished down 0.2%, and the Shanghai Composite rose 1.5%.

The Dow closed down 0.3% on Friday. The S&P 500 shed 0.7%, and the Nasdaq declined 1%. All three recorded weekly losses for the second week in a row.

5. Coming soon: A new Before the Bell, packed with insight from CNN Business reporters and trusted experts. If you're not already getting our emails, click here to sign up for a redesigned newsletter that delivers the news, analysis and market charts you need to start your business day right.

6. Coming this week:
Monday — China vehicle sales; Tencent Music (TME) and Saudi Aramco earnings
Tuesday — Germany inflation rate; US inflation; JD.com (JD) and Tilray (TLRY) earnings
Wednesday — China retail sales; Germany and Europe GDP; UK inflation; Luckin Coffee (LK), Macy's (M) and Canopy Growth (CGC) earnings
Thursday — US retail sales; Alibaba (BABA), JCPenney (JCP), Walmart (WMT) and NVIDIA (NVDA) earnings
Friday — US housing starts and building permits

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https://www.cnn.com/2019/08/12/investing/premarket-stocks-trading/index.html

2019-08-12 11:19:00Z
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Dow Jones Futures Fall On Hong Kong Unrest: Apple Stock, Lockheed, AMD, Amazon, Zscaler Show This Is Key In Stock Market Correction - Investor's Business Daily

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Dow Jones Futures Fall On Hong Kong Unrest: Apple Stock, Lockheed, AMD, Amazon, Zscaler Show This Is Key In Stock Market Correction  Investor's Business Daily

Dow Jones futures fell on Hong Kong unrest. AMD, Lockheed Martin, Zscaler show strength in the stock market correction. Apple stock does not.

View full coverage on Google News
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-fall-hong-kong-unrest-apple-stock-amd-lockheed-amazon-zscaler-stock-market-correction/

2019-08-12 10:47:45Z
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Cathay Pacific says it could fire staff who support Hong Kong protests - CNN

The city's largest airline outlined its "zero tolerance" approach in a memo sent days after Chinese authorities took steps to prevent Cathay workers who participate in protests from flying to mainland China or passing through the country's airspace. Cathay said that it would comply with that rule.

"It is important to remember that actions and words of our employees made outside of working hours can have a significant effect on the company," CEO Rupert Hogg told employees. The airline shared a copy of the memo with CNN.

"We have a high profile in the community given the nature of our business and inevitably actions of our employees frequently attract attention and would be treated as that representing the company's position," Hogg added.

All flights departing Hong Kong were later canceled Monday because of massive protests at its international airport, according to a statement posted on Cathay's website. Cathay cited a directive from the Hong Kong International Airport Authority.

China's Civil Aviation Administration said Friday that it would ban Cathay employees who support or take part in "illegal demonstrations, protests and violent attacks, as well as those who have had radical behaviors" from working on flights in China's airspace. The agency also said it will require Cathay to submit identification details about all relevant crews for approval prior to takeoff.

Hogg had told employees on Saturday that the company is legally required to comply with China's aviation authority. He wrote that workers who partake in such actions will be "immediately suspended" from any flights or "air transportation" activity involving mainland China.

The chief executive also pointed out that China is key to the airline's business. Cathay not only flies in and out of mainland China — it also has a "large number of routes" to Europe and the United States that pass through that airspace.

Cathay Pacific is based in Hong Kong, which though a part of China is governed under a separate legal framework granting the city certain political and legal freedoms not available on the mainland.

There have now been 10 consecutive weekends of protests in the financial hub, where demonstrators are calling for greater democracy, an independent investigation into alleged police brutality and the resignation of the city's leader, Carrie Lam.

Clashes between protestors and police have in some cases involved tear gas and resulted in injuries.

"Our primary focus must remain on delivering a safe, comfortable customer experience for everyone who chooses to fly with us," Hogg wrote in his memo on Saturday. "At the same time, we always try to create a safe, supportive environment for all Cathay Pacific Group employees. Though people may share different views, it is essential that we all respect each other, our customers and members of the public."

The company also said that by Thursday it will provide a report to China's Civil Aviation Administration on actions taken to improve flight safety and security, per the agency's request.

On the same day that Cathay announced it would comply with China's aviation authority, the airline also confirmed that it removed a pilot from duty last month who had been arrested during one of the protests.

"Cathay Pacific wishes to make it clear that we express no view whatsoever on the subject matter of any proceedings to which he may be subject," the company said.

Cathay (CPCAY) flies about 34 million passengers every year and serves nearly 200 cities around the world from its hub at Hong Kong's international airport. But its business has suffered because of the city's political crisis.

The airline was forced to cancel more than 150 flights last week amid a day of mass demonstrations and strikes. And the international airport was the site of a three-day sit in.

The company's stock was down about 4.5% on Monday. It has lost more than 11% this month.

CNN's Laura He and Sandi Sidhu contributed to this report.

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https://www.cnn.com/2019/08/12/business/cathay-pacific-hong-kong-protest/index.html

2019-08-12 10:25:00Z
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Tesla Electric Car Explodes After Hitting Tow Truck in Moscow - The Moscow Times

A Tesla electric car caught fire after crashing into a tow truck on a Moscow motorway late on Saturday.

Footage of the incident on state TV channel Rossia 24 showed the car by the side of the road engulfed in flames and thick black smoke. Two small explosions occurred within a few seconds of each other.

It was not possible to tell which Tesla model the car was and only the metal frame remained after the fire.

Tesla Inc stood by safety claims for its Model 3 earlier this week in the face of regulatory scrutiny, while documents showed the top U.S. automotive safety watchdog issued at least five subpoenas since last year seeking information about crashes involving the company's vehicles.

The state-run RIA news agency website posted a video showing the car driving in the left-hand lane of Moscow's ring road, known as the MKAD, before crashing into a tow truck parked by a safety fence that separates the carriageway from oncoming traffic.

The accident took place at around 9 p.m. Moscow time. The speed limit on the ring road is 100 kilometers per hour.

Tesla was not immediately available for a comment on the incident outside normal business hours.

The driver, 41-year-old Alexei Tretyakov, and his children were injured in the crash but escaped from the vehicle before it was destroyed by the fire, Rossia 24 reported.

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2019-08-11 13:32:21Z
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EV Items Offers Affordable Accessories For Your Electric Vehicle - CleanTechnica

Sponsored

Published on August 11th, 2019 | by Sponsored Content

August 11th, 2019 by Sponsored Content 

---

As electric vehicles continue to move into the mainstream, more owners are seeking out and creating accessories to make their vehicles look and function in ways that better fit their personalities. EV Items*, a company created by a former Tesla employee and current Tesla owner, has built up an impressive array of affordable accessories for the Tesla Model 3, S, and X that give owners new options to customize their rides without breaking the bank.

Their Model 3 Wireless Qi Charger, for instance, is just $59.99, compared to other options that will set you back more than $100 for a similar device, including Tesla’s own wireless phone charger at $125.

Image credit: EV Items

Other offerings provide additional utility in the spacious Tesla Model 3 center console. Their Premium Vegan Center Console Storage Cubby gives owners a safe place to put smaller items like sunglasses or loose change without having to worry about where it might end up after the next zero to sixty launch onto the freeway. The small tray comes in either black or a bright red for those looking for a little more pop in the interior. EV Items isn’t just for Tesla Model 3 owners, they also have a full line of products for the Model X and Model S including a cubby drawer that helps owners make better use of the awkward shelf under the display.

Image credit: EV Items

Speaking of the center console and its fingerprint magnet finish, EV Items makes a vinyl wrap that lets owners throw down one of a handful of vinyl colors over the high gloss factory black. Give your center console a satin black, satin white, black or white carbon fiber or brushed stainless look with just a few minutes work and a Tesla Model 3 center console wrap kit.

Floor mats are a common first upgrade for Tesla owners, especially for owners living in areas with lots of rain, sleet, and snow. EV Items has a great set of all weather floor and trunk mats custom fit for Teslas. They are cut from a nice thick rubber mat that not only provide protection for the car from kids, animals, feet, sleet, snow, and the like, but they are easy to clean.

The protector from all things kid. Image credit: EV Items

Being made of thick rubber means they can just be pulled out of the car, hosed off, and hung out to dry as needed. That’s a lifesaver for parents and those just looking for a life hack that minimizes the amount of time spent cleaning their car so they can spend more time out on the road just enjoying it.

Finally, and most importantly, an air freshener. I know, I know, they have those down at your local gas station. But remember, where we’re going, we don’t need gas stations. But we will still have kids and pets and other visitors that might not leave the interior of your car smelling fresh and happy. We all want the inside of your car to smell fresh and happy, and EV Items knew that.

Image credit: EV Items

They came up with a few air fresheners that come free with any order, and make great add on items to any cart and any car. The air fresheners come in two different builds. The first one depicts a fictitious “starman” flying through space near a blue-green planet in a sporty red car and another that features the starman character standing proudly, helmet in hand. They look a lot like the starman and roadster that were launched into space by SpaceX’s first Falcon Heavy launch, but the little disclaimer says they are works of fiction, so they couldn’t be. But they’re awesome and they’d fit right into the interior of your Tesla.

For a limited time, they are offering 20% off to CleanTechnica readers using this special link or promo code “CLEANTECHNICA” which is a nice chunk off the top of any order. If you’re rocking a new Tesla and in want of some accessories to make it yours, head over to EV Items and pick up some of their gear, then come back here and let us know what you think.

*This post was sponsored by EV Items; all images from the company (used with permission) 
 

Tags: Center Console, EV Items, Floor Mats, Tesla Model 3, Vinyl Wrap

About the Author

Sponsored Content CleanTechnica and our parent company, Important Media, occasionally choose to work with select clients for paid promotion on our network sites. This is the account for all paid content. For information about paid outreach, please contact our Accounts Manager Andrea Bertoli.

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2019-08-11 13:01:24Z
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