10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, ORCL, KO, TSLA, HMNY)

pulse

September 18, 2018 11:47 AM

This is what traders are talking about.

South Korean President Moon Jae-in and North Korean leader Kim Jong Un at an official welcome ceremony at Pyongyang Sunan International Airport in Pyongyang, North Korea.

Trump slams China with tariffs on $200 billion worth of goods. President Donald Trump on Monday ordered the US Trade Representative to impose a 10% tariff on another $200 billion worth of Chinese goods, meaning more than half of all goods now coming into the US from China are subject to the duties.

China has "no choice" but to retaliate.

Wall Street bankers are getting paid more than at any time since the financial crisis. Average Wall Street pay rose 13% in 2017 to $422,500, according to New York state comptroller Thomas DiNapoli.

Saudi Arabia invests in a Tesla rival. The kingdom's Public Investment Fund announced on Monday a $1 billion investment in Tesla rival Lucid Motors.

Coca-Cola is reportedly eyeing a deal with one of Canada's biggest cannabis producers. Coca-Cola has been in talks with Aurora Cannabis to produce drinks infused with CBD, Bloomberg reported Monday.

The owner of MoviePass wants to do another massive reverse stock split. Helios & Matheson will propose a 1-for-500 reverse stock split at a special shareholder meeting next month in an attempt to keep shares listed on the Nasdaq. MoviePass' parent company engineered a 1-for-250 reverse stock split in August.

Oracle drops after missing on cloud revenue. Shares fell more than 5% in after-hours trading Monday after the business-software maker said revenue from its cloud services and license support unit was up 3.2% to $6.61 billion in its fiscal first quarter, missing the $6.71 billion that was expected by analysts surveyed by Reuters.

Stock markets around the world are higher. China's Shanghai Composite (+1.82%) paced the gains in Asia and Germany's DAX (+0.31%) is out front in Europe. The S&P 500 is set to open up 0.26% near 2,896.

Earnings reports trickle out. AutoZone and General Mills report ahead of the opening bell.

US economic is light. The NAHB Housing Market Index will be released at 10 a.m. ET. The US 10-year yield is up 1 basis point at 3%.

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