1. Paris Air Show: All eyes are on Boeing as the Paris Air Show kicks off Monday.
Trade will be high on the agenda at the G20. Investors will monitor talks between the United States and China for any signs of a breakthrough that would ease tensions and help avoid more tariffs.
President Donald Trump and his Chinese counterpart, Xi Jinping, are scheduled to have dinner on Saturday.
“I think we’re very close to doing something with China, but I don’t know that I want to do it, because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes,” Trump told reporters on Thursday.
2. Oil prices in focus: The price of US crude has plunged roughly 22% so far in November. Oil futures dropped another 1% on Friday to below $51 amid continued worries about oversupply.
Russian President Vladimir Putin and Saudi Arabian Crown Prince Mohammed bin Salman, leaders of two of the worlds biggest oil producers, will meet this weekend at the G20.
The two countries are key signatories to an agreement that aims to reduce supply and boost prices. There’s talk that OPEC and Russia may agree further cuts at a meeting next week in Vienna.
That’s exactly what Trump doesn’t want. Last week he tweeted a “thank you to Saudi Arabia,” for keeping prices down, “but let’s go lower,” he added.
3. Major data breach: Marriott says its guest reservation system has been hacked, potentially exposing the personal information of approximately 500 million guests.
The hotel chain said Friday the hack affects its Starwood reservation database, a group of hotels it bought in 2016 that includes the St. Regis, Westin, Sheraton and W Hotels.
Marriott said hackers had gained “unauthorized access” to the Starwood reservation system since 2014, but the company only identified the issue last week.
Shares in Marriott (MAR) are plunging on the news, falling nearly 6% in premarket trading.
4. More trouble for Deutsche Bank: German authorities carried out raids of Deutsche Bank (DB) offices in Frankfurt for a second day on Friday as part of an investigation into potential money laundering.
Shares in Deutsche Bank dropped another 2%, bringing total losses for 2018 to a staggering 48%.
Prosecutors say Germany’s largest lender is suspected of helping clients to set up offshore companies in tax havens. Investigators are also looking at whether Deutsche Bank failed to report suspicious transactions.
The investigation comes amid continued questions about the bank’s business strategy and direction.
3. Markets rise: Global stocks are starting off the week on a positive note.
7. Earnings bonanza: 3M (MMM), Bristol-Myers (BMY), Comcast (CMCSA), Hershey Foods (HSY), Hess (HES), Raytheon (RTN), Southwest Air (LUV), UPS (UPS) and Xerox (XRX) will release earnings before the open.
Minutes of the US central bank’s November policy meeting showed “almost all participants” agreed another rate hike would likely be necessary “fairly soon,” if incoming data matched policymakers current expectations.
There is a chance that UK lawmakers will use the event to reveal internal documents Facebook has been trying to keep from the public.
4. Coming this week:
Monday: Paris Air Show, US Treasury foreign ownership report
Tuesday: Adobe earnings, US housing starts, US Senate hearing on tariffs
Wednesday: Fed decision and press conference, earnings from Oracle (ORCL) and Barnes & Noble (BKS)
Thursday: US leading indicators, Bank of England rate decision, earnings from Kroger (KR) and Red Hat (RHT)
Friday: US existing home sales, Markit flash US manufacturing PMI