Stock market news: Opening bell, November 26, 2018

Remotely
controlled robots OriHime-D, developed by Ory Lab Inc. to promote
employment of disabled people, serve customers at a cafe in
Tokyo, Japan.
Reuters/Issei
Kato

Here is what you need to know.

1. 
   Cyber Monday 2018 is forecast to be the biggest online-shopping
   day in US history. Sales are expected to hit $7.8
   billion, up 18% versus a year ago, according to Adobe
   Analytics.
2. Amazon
   is gaining ground. Shares of the e-ecommerce
   behemoth are up 2.6% at $1,541 apiece ahead of Monday’s opening
   bell. They are down more than 26% from their September
   peak. 
3. 
   Elon Musk says Tesla was near death during its Model 3
   ‘production hell.’ Musk told Axios in an
   interview broadcast Sunday evening on HBO that Tesla was
   “bleeding money like crazy,” and that the hemorrhaging of cash
   got to the point where it was “single-digit weeks” from death.
4. 
   Facebook has a bruising week ahead. British
   lawmakers are leaning towards releasing a cache of documents
   that could reveal how Facebook’s privacy policy allowed
   Cambridge Analytica to access the data of 87 million users,
   according to The Observer. 
5. 
   The stock market is flashing some terrifying parallels to the
   tech bubble. The Popular/Panned (PP)
   ratio, which looks at the performance of tech stocks (the
   popular group) relative to utilities (the panned area), eerily
   mirrors the reckoning that led up to the dotcom crash.
6. Bitcoin
   is below $4,000. The largest cryptocurrency
   by market value touched a low of $3,675 Monday, its weakest
   since September 2017. 
7. 
   Ohio is becoming the first state to accept bitcoin for
   taxes. Ohio businesses will be able to pay 23
   types of taxes with bitcoin, including sales taxes and
   witholdings taxes, according to a report out Sunday from The
   Wall Street Journal. 
8. 
   Feuding UK politicians aren’t united enough to torpedo Theresa
   May’s Brexit deal. Adrian Paul, a Goldman
   Sachs European economist says an “uneasy alliance” of MPs who
   currently oppose the UK’s deal to leave the EU will ultimately
   ratify it, perhaps on a second vote. 
9. Stock markets
   around the world are higher. Hong Kong’s Hang
   Seng (+1.73%) led the gains in Asia and Germany’s DAX (+1.17%)
   is out front in Europe. The S&P 500 is set to open up 1.08%
   near 2,661.
10. 
    US economic data trickles out. Dallas Fed
    manufacturing crosses the wires at 10:30 a.m. ET. The US
    10-year yield is up 2 basis points at 3.06%.