10 things you need to know in markets, November 27

Good morning! Here’s what you need to know in markets on Tuesday.

Ruben
Sprich/Reuters

1.
The Dow jumped more than 350 points as Cyber Monday fever strikes
US markets. Following recent heavy sell-offs,
investors have waded back into the market on the biggest
online-shopping day of the year. Asian markets were little
changed, showing resilience despite US President Donald Trump’s
comments that seemed to dim hopes of a trade truce with China.

2.
President Donald Trump is ready to go all out in his China trade
war. In an interview with The Wall Street Journal,
Trump said he’s not afraid to slap duties on consumer goods like
iPhones. He also said he expects to move ahead with raising
tariffs on $200 billion in Chinese imports to 25% from 10%
currently.

3.
China’s richest man has been outed as a member of the Chinese
Communist Party. Jack Ma, the founder of Alibaba was
outed by Chinese media, but the revelation shows how party
loyalty trumps all with Xi Jinping’s China.

4.
Standard Chartered is considering simplifying its structure as it
looks to curb costs across its networks from Zambia
to Macau, Bloomberg reported. 

5.Tesla’s vehicle sales in China sank 70% last month from a
year ago, the country’s passenger car association
told Reuters on Tuesday, underscoring how the Sino-U.S. trade war
is hurting the US electric carmaker.

6.
The chief business officer of WhatsApp is leaving,
the latest in a line of high-level departures at Facebook and its
associated apps.

7.
Just four months after Apple breached the $1 trillion
mark, the iPhone maker has all but lost its lead as
Wall Street’s most valuable company and is on the verge of being
replaced by Microsoft.

8.Cyber Monday has delivered a new record sales
bonanza. New data indicates a record $7.9 billion in
sales.

9.
Google has paid out $1 billion for a business park next door to
its Googleplex HQ. The deal is the latest big
real-estate purchase by Google and parent company Alphabet where
there are roughly 16,000 more employees than there were a year
ago.

10.NASA has landed a robot on Mars. It’s called
InSight and it may reveal as much about our own planet as the red
one.