- Reuters/Jonathan Ernst
Here is what you need to know.
Trump meets Kim in Singapore. President Donald Trump and North Korean Leader Kim Jong Un held historic talks in Singapore on Monday evening (Tuesday morning local time) and signed a “comprehensive” letter whose contents were not immediately clear.
Trump’s top economic adviser ‘in good condition’ after heart attack. “Our Great Larry Kudlow, who has been working so hard on trade and the economy, has just suffered a heart attack,” Trump tweeted on Monday. “He is now in Walter Reed Medical Center.”
IMF says clouds over the global economy are ‘darker by the day.’ The International Monetary Fund head, Christine Lagarde, on Monday said the “biggest and darkest cloud” over the global economy was the risk of eroded confidence “by attempts to challenge the way in which trade has been conducted, in which relationships have been handled, and the way in which multilateral organizations have been operating.”
Net neutrality is dead. Internet providers now have the authority to block or slow access to particular internet services and to create a “fast lane” to them.
Wall Street is firing a warning shot on red-hot tech stocks, and many investors don’t see it coming. “Analysts’ forecasts may be too low, but if they are in the right ballpark, such patterns may be disappointing to very long investors,” Tobias Levkovich, Citi’s chief US equity strategist, wrote in a recent note.
A ruling on the AT&T-Time Warner merger is coming. Judge Richard J. Leon will hand down the decision as to whether AT&T can acquire Time Warner for $85 billion and what, if any, conditions must be met before a deal can proceed, the news website Axios says.
Robots could replace as many as 10,000 jobs at Citi’s investment bank. The areas “most fertile for machine processing” include technology and operations, which account for about 40% of the bank’s headcount, Jamie Forese, the president of Citi and chief executive of the bank’s institutional clients group, told the Financial Times.
Goldman Sachs used AI to simulate 1 million possible World Cup outcomes – and arrived at a clear winner. The 2018 World Cup kicks off Thursday, and Goldman Sachs says Brazil will beat Germany in the championship match.
Stock markets around the world trade mixed. China’s Shanghai Composite (+0.89%) led the gains in Asia, and Britain’s FTSE (-0.36%) trails in Europe. The S&P 500 is set to open little changed near 2,780.
US economic data is light. CPI will be released at 8:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.96%.