Opening Bell, August 16, 2018

Benjamin Zhang/Business
Insider

Here is what you need to know.

Martin Tripp posted dozens of
photos he alleged came from inside Tesla. The
former Tesla employee who is being sued by the company says the
images show battery scrap, trailers containing battery waste, and
documentation of punctured battery parts in Model 3 vehicles.

A former Tesla engineer
says the company silenced her team after it brought up safety and
quality issues. Tripp has filed counterclaims
against Tesla including allegations that the company tried to
intimidate him after he spoke out about what he saw as waste,
quality, and safety issues.

The legendary investor who
predicted the past 2 bubbles breaks down how the 9-year bull
market will end. Jeremy Grantham, the cofounder
and chief investment strategist at the $71 billion Grantham,
Mayo, & van Otterloo, had his latest bubble thesis thwarted
by President Donald Trump’s trade war — but that doesn’t mean
he’s sounding the all-clear for stocks.

Trump is rolling back restraints
on US cyberwarfare, and it could make an attack on other
countries more likely. Removing these Obama-era
rules will make it easier for the US to go on the offensive and
could deter attacks on the US, such as election meddling.

The pound is on its longest losing
streak against the dollar since the depths of the financial
crisis. After a strong start to 2018, the pound
has slumped in recent months and on Wednesday traded below $1.27
for the first time in 14 months.

Turkey’s lira is rallying
after a $15 billion loan from Qatar. The dollar
is down 2.5% against the lira to 5.8052 on Thursday morning. It
follows a surge over the past week and a half that saw the dollar
climb to over 7 lira at its worst.

‘Tech trendiness’ has
spiked to the highest level in 15 years. Jim
Paulsen, the chief investment strategist at The Leuthold
Group, explains why that’s signaling widespread market pain.

Stock markets around the world
trade mixed. The Shanghai composite (-0.7%) declined
in Asia, and Germany’s DAX (+0.4%) led losses across Europe. The
S&P 500 is set to open up 0.4% near 2,834.

Earnings reporting
continues. Walmart, Nvidia, Nordstrom, are among the
companies reporting on Thursday.

US economic data keeps coming
out. Initial jobless claims and the Philadelphia Fed
Business Outlook is out at 8:30 a.m. ET. The US 10-year yield is
down 4 basis points at 2.85%.