Stock market news: Opening bell, November 14, 2018

A
cyclist wears a mask as Tiananmen Square is shrouded in haze
after a yellow alert was issued for smog in Beijing,
China.
Reuters/Thomas
Peter

Here is what you need to know. 

Oil is looking to extend its record losing
streak. West Texas Intermediate crude oil fell
by as much as 1% to $55.13 a barrel early Monday, but is now
little changed near $55.75. Any down close would extend its
record losing streak to a 13th straight day.

The world’s biggest shipping company has proof that Trump’s China
tariffs are battering global trade. AP
Moller-Maersk, the world’s biggest operator of container ships,
announced third-quarter profit that topped expectations, but said
that global container trade is occurring at “a much slower
pace of growth,” up 4.2% versus the 5.8% growth recorded over the
same period in 2017.

Swelling corporate debt piles are now global fund managers’ major
concern. Twenty-four percent of global fund
managers surveyed by Bank of America Merrill Lynch believe
that corporate bonds will be the worst-performing asset
class in 2019.

Amazon officially announces the homes of its HQ2.
The Long Island City neighborhood in Queens, New York, and
the newly formed National Landing area of Arlington, Virginia,
have been chosen as the homes for Amazon’s second headquarters.

Snap has been subpoenaed by Justice Department and SEC for
information on IPO disclosures. The
social-media app maker said it thinks the investigations are
“likely focused on IPO disclosures relating to competition from
Instagram,” according to Reuters.

Tilray misses on sales an earnings. The
cannabis producer lost $0.20 a share on revenue of $10 million as
it sold 136% more kilograms of cannabis compared to a year
ago. 

Sweetgreen is the newest unicorn. The
fast-casual salad chain announced Tuesday that it had raised $200
million in a funding round led by Fidelity Investments, pushing
its valuation over the $1 billion mark.

Stock markets
around the world are lower. Australia’s ASX
(-2.03%) was hit hard overnight and Germany’s DAX (-0.62%) trails
in Europe. The S&P 500 is set to open little changed near
2,725.

Earnings reports keep coming. Canada Goose,
Canopy Growth, and Macy’s report ahead of the opening bell while
Cisco Systems releases its quarterly results after markets close.

US economic data trickles out. CPI will cross
the wires at 8:30 a.m. ET. The US 10-year yield is down 1 basis
point at 3.13%.