Stock market news: Opening bell, August 28, 2018

U.S.
President Donald Trump sits behind his desk as he announces a
bilateral trade agreement with Mexico to replace the North
American Free Trade Agreement (NAFTA) at the White House in
Washington.
Markets
Insider

Here is what you need to know. 

The US and Mexico are overhauling NAFTA. The
preliminary agreement says 75% of a car must originate
in a NAFTA country (currently 62.5%) and that 40% to 45% of
a car or truck’s content must be made by workers earning more
than $16 an hour.

The Trump administration is throwing $4.7 billion at US farmers
to try and make up for their trade war
pain. Soybean farmers — who have been hit
particularly hard by the trade war with China — will receive $3.6
billion of aid.

Aramco has lost its unlimited access to Saudi Arabia’s oil
reserves. The state-run oil giant had its
access to the kingdom’s oil and gas reserves reduced to a 40-year
supply, the Financial Times says. 

Cryptos saw an overnight boost. Dash — which
has become somewhat of an alternate-transactions platform in
Venezuela — spiked more than 20% overnight before paring its
gains.  

The stock market’s record-breaking run is masking a dangerous
trend brewing under the surface. The rally into
record territory has occurred without participation from some key
tech stocks that had propel the market high, Morgan Stanley
says. 

Warren Buffett’s Berkshire Hathaway is entering a $1 trillion
market in India. Berkshire confirmed on Monday
that it is investing  in One97 Communications Ltd., the
parent company of Paytm, which is the largest mobile-payment
company in India.

Toyota is investing in Uber as part of a self-driving car
partnership. Toyota’s $500 million investment
values Uber at $72 billion, according to the Wall Street
Journal. 

Stock markets
around the world are higher. Hong Kong’s Hang
Seng (+0.28%) led the gains in Asia and Britain’s FTSE (+0.37%)
is out front in Europe. The S&P 500 is set to open little
changed near 2,899.

Earnings reports keep coming. Best Buy and
Tiffany report ahead of the opening bell. 

US economic data flows. S&P home prices
will be released at 9 a.m. ET and consumer confidence will cross
the wires at 10 a.m. ET. The US 10-year yield is unchanged at
2.85%.