Here is what you need to know.
A new round of tariffs on Chinese goods could come as early as Monday. China could reject trade talks if President Donald Trump imposes fresh tariffs on $200 billion worth of Chinese goods, The Wall Street Journal says.
US household wealth is above $100 trillion for the first time – but that excess could be signaling the next market crash. “Household net worth cannot sustainably grow this much faster than incomes,” Russ Mould, an investment director at AJ Bell, wrote in a note to clients. “Assets have been bid up (and up) and at some stage there has to be chance that they correct, just as happened in 2000 and 2007.”
The CEO of a $736 billion asset manager that sidestepped the most toxic casualty of the financial crisis warns of the big risk in markets right now. Martin Gilbert, the co-CEO of Aberdeen Standard Investments, tells Business Insider why he’s wary of covenant-lite loans.
UBS picks its post-Brexit European base. The Swiss investment bank has chosen Frankfurt, Germany, for its post-Brexit European Union headquarters, UBS CEO Sergio Ermotti told Bloomberg.
Salesforce CEO Marc Benioff and his wife are buying Time magazine. The Benioffs have agreed to pay Meredith Corp. $190 million for the magazine it purchased just eight months ago.
A fire broke out at Tesla's Gigafactory in Nevada on Saturday evening. The factory's sprinkle system suppressed the flames and Tesla employees were safely evacuated, Reuters says, citing a statement from a company representative.
JD.com's CEO is skipping the China AI forum. Liu Qiangdong is skipping the high-profile state-run Shanghai forum following his August 31 arrest in Minneapolis on suspicion of rape, Reuters reports.
Stock markets around the world are lower. China's Shanghai Composite (-1.1%) finished at a four-year low, and Britain's FTSE (-0.45%) lags in Europe. The S&P 500 is set to open little changed near 2,902.
Earnings reports trickle out. FedEx and Oracle report after markets close.
US economic data is light. Empire Manufacturing will be released at 8:30 a.m. ET. The US 10-year yield is unchanged at 3%.