Stock market news: Opening bell, December 4, 2018

A
diver dressed as Santa Claus feeds fishes inside a fish tank at
the Sea Life aquarium in Berlin, Germany.
Reuters/Hannibal Hanschke

Here is what you need to know. 

1. 
   An alarming slowdown in global trade shows Trump’s trade war is
   having a devastating impact. Data released by
   Swiss freight giant Kuehne + Nagel shows global trade grew 0.3%
   in November, down from the 3.1% growth a year ago, as every
   single region saw slowing growth.  
2. 
   The longest bull run in stock-market history is on its last
   legs — and a ‘deep and prolonged correction’ is
   coming. 
   “In our
   view, the bullish cycle that began in 2009 is ending,” Societe
   Generale’s technical team, led by Stéphanie Aymès, said in a
   note sent out to clients on Monday that pointed to a form of
   technical analysis called the Elliott Wave
   Principles. 
3. 
   Ray Dalio, founder of the world’s largest hedge fund, explains
   how the next financial crisis will be different from the
   last. 
   “
   The
   nature of this dynamic is more of a squeeze,” Dalio told
   Business Insider CEO Henry Blodget at Business Insider’s
   IGNITION conference. “This doesn’t look like 2008. In 2007, we
   would look at the financial statements of entities and see that
   they weren’t able to pay debt, and that we were headed for a
   big debt crisis. Now it’s not the same.”
4. 
   Amazon briefly overtakes Apple as the world’s most valuable
   company. 
   Amazon
   reached a valuation of $865 billion Monday afternoon, briefly
   edging out Apple’s market cap of $864.8 billion.
5. 
   
   The marijuana producer Aphria crashes after a short seller
   calls it a ‘shell game with a cannabis business on the
   side.’
   
   Aphria shares
   crashed as much as 30% Monday after the
   short seller Quintessential Capital
   Management’s Hindenburg Research
   alleged the company’s business was full of
   overvalued buyouts and fraudulent financial reporting. Aphria
   called the acquisitions
   a
   “malicious and self-serving attempt to profit by manipulating”
   its stock price.
6. 
   
   Marlboro-maker Altria is reportedly in talks to buy the
   marijuana producer Cronos
   Group. 
   
   A
   deal has not been reached and talks are expected to continue
   for several weeks, Reuters reports, citing sources familiar
   with the matter.
7. 
   The Apple supplier Cirrus Logic slashes its
   outlook.
   Cirrus,
   which makes analog chips used in Apple devices, said it now
   sees
   third-quarter revenue
   to be in the range of $300 million and $340 million, down from
   its previous forecast of  between $360 million and $400
   million, due to a slowdown in the smartphone market.
8. 
   
   China’s biggest streaming-music service reveals the details for
   its US IPO. 
   
   Tencent Music said Monday that it plans to
   price shares of its US initial public offering at between $13
   and $15, helping it raise as much as $1.2 billion. 
9. Stock markets
   around the world are bleeding
   lower. 
   Japan’s
   Nikkei (-2.39%) was hit hard in Asia and Germany’s DAX (-0.79%)
   leads the losses in Europe. The S&P 500 is set to open down
   0.29% near 2,783.
10. 
    Earnings reports keep coming.
    AutoZone, Dollar General, and Toll Brothers
    all report ahead of the opening bell.