Good morning! Here's what you need to know on Tuesday as much of Europe returns to work after Easter.
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10 things you need to know in markets today
Here's what you need to know on Tuesday.
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2. China will take counter-measures of the "same proportion" and scale if the United States imposes further tariffs on Chinese goods, China's ambassador to Washington said, amid growing fears of an impending trade war.Cui Tiankai made the comments ahead of what is expected to be the announcement this week of U.S. tariffs on $50 billion to $60 billion in Chinese imports
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4. The New York Stock Exchange on Monday set the reference price for shares of music streaming service Spotify Technology SA at $132.Spotify is pursuing an unusual direct listing to reach the public markets in place of an initial public offering, and shares are expected to start trading on Tuesday.
5. Oil prices inched up on Tuesday as rising Russian output and expectations of a reduction in Saudi Arabian crude prices were offset by a potential slowdown in U.S. production.U.S. WTI crude futures were at $63.2 a barrel at 0117 GMT (9.17 p.m. ET), up 18 cents, or 0.3 percent, from their previous settlement.
6. Bitcoin, the highly volatile digital currency, is proving to be the new stock market indicator, influential investor Jeffrey Gundlach said on Monday, adding that this is hardly just a "gut feeling" given the recent price movements."Bitcoin closed at the low of the year last week, SPX (Standard & Poor's 500 Index) is now at the low of the year this week," Gundlach, known as Wall Street's "Bond King," told Reuters in an interview. "Bitcoin keeps leading."
7. Elon MuskThe report said that Musk had assumed control of Model 3 production from the executive who had been leading it. Tesla confirmed that the executive, Doug Fields, was still with the company.
8. Amber Baldet, a blockchain program lead at JPMorgan Chase & Co , is leaving the bank to launch her own venture, JPMorgan said on Monday.Baldet, one of the best-known executives focused on blockchain at a major lender, led JPMorgan's Blockchain Center of Excellence and helped the bank set its strategy for the nascent technology.
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9. UBS said it is nominating Jeremy Anderson and Fred Hu for election to its Board of Directors at its annual general meeting in May.William G. Parrett will step down from the board to focus on his new role as Chairman of the Board of UBS Americas Holding, the Swiss bank said on Tuesday.
10. British passport-making company De La Rue Plc is set to challenge the British government's decision that allows Franco-Dutch company Gemalto NV to make new blue national passports from 2019, the Financial Times reported on Monday.De La Rue, the FT said, is initiating a judicial review of the provisional decision by the High Court to award the contract to the part-state owned firm Gemalto whose headquarters are in Paris.
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