1. Paris Air Show: All eyes are on Boeing as the Paris Air Show kicks off Monday.
The regulator said Monday that Musk had continued to fire off tweets about Tesla (TSLA) without consulting others at the company despite having agreed to a court-ordered settlement requiring him to do so.
Musk agreed to the deal with the SEC in order to settle charges over his controversial tweet in August about his plans to take Tesla private. But the SEC has since found fault with Musk’s tweeting.
The regulator said Monday that it was “stunning” that Musk “had not sought pre-approval for a single one of the numerous tweets about Tesla” he has published since the settlement was agreed.
It also dismissed Musk’s argument that his First Amendment rights are being violated.
Lawyers representing Musk responded with a court filing seeking permission to address “unsupported assertions” made by the SEC and to submit documentation that “undermines” the regulator’s position.
The delivery company has already warned that the global economic slowdown could deliver a blow to its bottom line this year. It warned in December that its international business, especially in Europe, was struggling.
Investors will be looking to see if the shipping and delivery company can correct course, or whether the slowdown in global trade has reduced its outlook further.
2. Tariff hearings begin: Companies and trade groups are about to get their say on the wisdom of US tariffs on an additional $300 billion worth of Chinese exports.
The pound has taken the latest developments in its stride, but analysts say the already messy process now looks even more uncertain. May’s deal has already been voted down twice in parliament.
In order to avoid crashing out of the European Union in 10 days without a transitional deal — a disastrous scenario for business — May is likely to seek to delay the exit process. The big question is how long a delay she will seek, and whether the European Union will agree.
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.
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