Stock market news: Opening bell, September 19, 2018

Here is what you need to know. 

China’s Premier hits back at Trump’s attacks on currency
manipulation. “Persistent depreciation of
the RMB [China’s currency] will only do more harm than good to
our economy,” Chinese Premier Li Keqiang said Wednesday at a
World Economic Forum event in Tianjin, China.  

North Korea and South Korea agree to take steps toward
denuclearization. South Korean President Moon
Jae-in and North Korean leader Kim Jong Un on Wednesday agreed to
take several steps toward denuclearization, including the
“permanent dismantlement” of North Korea’s primary nuclear
facility in Yongbyon, and allowing international inspectors to
observe the closure of an engine test site and missile launch pad
— as long as the US reciprocates the measure. 

The Brexit price squeeze is back as UK inflation unexpectedly
jumps for a 2nd month. Consumer prices in the
UK rose 2.7% in August as theatre tickers, clothing, and sea
fares saw notable price gains, the Office for National Statistics
said Wednesday.

The inside story of how an old-school Scottish firm became an
early investor in many of Silicon Valley’s most prized
unicorns. “For us, a mistake is foregone
upside,” Tom Slater, the firm’s head of the US equities, said in
an interview with Business Insider. “Businesses you’ve missed out
on that you looked at that ended up growing, but you didn’t own
them. That’s how you really destroy value for clients.”

The CEO of Denmark’s biggest bank is out after a $235 billion
money laundering scandal. Thomas Borgen has
resigned as Danske Bank CEO after an internal investigation
found a “series of major deficiencies” had allowed the
Estonian branch of the bank to be used for “suspicious
transactions” in the period between 2007 and 2015.

Tesla says the DOJ asked for documents after Elon Musk’s ‘funding
secured’ tweet about taking the company
private. A Tesla representative said Tuesday
the electric-car maker has received and cooperated with the
Department of Justice’s voluntary request for documents and that
the company has not received a subpoena.

A Canadian cannabis company is set to be the first to export
legal weed to the US. Tilray soared 28.95%
Wednesday after receiving approval to ship medical cannabis
to the US for a study in California. Shares have gained more than
800% since their initial public offering priced at $17 in mid
July. 

Stock markets
around the world are higher. Hong Kong’s Hang
Seng (+1.19%) led the gains in Asia and Germany’s DAX (+0.18%)
trails in Europe. The S&P 500 is set to open little changed
near 2,903.

Earnings reports trickle out. Red Hat reports
after markets close.

US economic keeps coming. Housing starts,
building permits, and the current account balance will all be
released at 8:30 a.m. ET. The US 10-year yield is unchanged at
3.06%.