Stock market news: Opening bell, November 27, 2018

A
commuter walks to a bus stop as snow falls in
Chicago.
Reuters/Kiichiro
Sato

Here is what you need to know. 

1. 
   Trump is ready to go all-out in the trade war with
   China. President Donald Trump on Monday told The
   Wall Street Journal that it is “highly unlikely” that he will
   reach a trade deal with Chinese President Xi Jinping at the
   upcoming G20 summit in Argentina and that he is prepared to
   place tariffs on the remaining $267 billion worth of Chinese
   goods being impoerted into the US — including iPhones and and
   other consumer products.
2. 
   Cyber Monday raked in a record $7.9 billion of
   sales.
    A
   late-evening forecast from Adobe showed sales would be about
   $100 million more than previously forecast, Reuters
   reports. 
3. 
   Amazon says Black Friday and Cyber Monday 2018 were the biggest
   shopping days in its history. 
   The e-commerce giant said Cyber Monday was
   the single-biggest shopping day in its history and that
   “millions” more products were
   sold between it and Thanksgiving Day than during the same
   period in 2017.
4. 
   Bank of America’s $2.8 trillion wealth management CIO reveals
   his biggest market fear. 
   Chris Hyzy — the chief investment officer for
   Bank of America’s Global Wealth and Investment Management
   division — explains why a decline in dollar liquidity
   could trigger the next recession if left unchecked.
5. 
   Microsoft briefly passes Apple as the largest US
   company.
   Microsoft
   on Monday briefly surpassed Apple as the most valuable company
   in the US, with a market capitalization of about $812 billion.
   The last time Microsoft finished a trading session with a
   higher market cap than Apple was in 2010.
6. 
   Tesla’s sales in China crashed in October because of the trade
   war. 
   The
   electric-car maker sold just 211 vehicles during the month of
   October, down 70% year-over-year, Reuters says, citing
   China Passenger Car Association
   data. 
7. 
   Alibaba founder Jack Ma has been outed as a member of China’s
   Communist Party. 
   Ma, China’s richest person, will be one of
   100 guests to be honored by Beijing for their contributions to
   the country’s economy, according to the state-run People’s
   Daily. 
8. Stock markets
   around the world are in the red. 
   Hong Kong’s Hang Seng (-0.17%) slipped in
   Asia and Britain’s FTSE (-0.29%) trails in Europe. The S&P
   500 is set to open down 0.38% near 2,663.
9. Salesforce
   reports after the closing bell.
   It’s expected to earn an adjusted $0.50 a
   share on revenue of $3.37 billion, according to analysts
   surveyed by Bloomberg.
    
10. 
    US economic data flows. 
    FHFA House Price Index and S&P
    Case-Schiller home prices will both be released at 9 a.m. ET
    before consumer confidence crosses the wires at 10 a.m. ET. The
    US 10-year yield is unchanged at 3.05%.