1. U.S. stocks were lower on Monday morning after weak Chinese trade data and an OECD report warning of a global slowdown spurred concerns about weakening demand.
Data showed China's October exports fell for a fourth month, while imports also dropped, leaving the world's second largest economy with a record high trade surplus of $61.64 billion. The U.S. is one of China's biggest trade partners.
2. The euro gave up all of the day’s gains against the dollar on Monday, falling back towards seven-month lows amid growing expectations that the European Central Bank will cut interest rates deeper into negative territory in December.
EUR/USD was last at 1.0736, not far from the low of 1.0701 set on Friday, after rising to highs of 1.0790 earlier.
3. Gold prices struggled near the lowest level in three months on Monday, as investors slashed holdings of the precious metal amid expectations the Federal Reserve will raise interest rates at its next meeting in December.
Gold for December delivery on the Comex division of the New York Mercantile Exchange tacked on $1.20, or 0.11%, to trade at $1,088.80 a troy ounce during U.S. morning hours.
On Friday, gold prices fell to $1,084.50, the lowest since August 7, after data showing the U.S. economy created more jobs than expected in October bolstered expectations for a rate hike next month.
4. China’s businesses foresee a bleak year ahead of them and have cut revenue and profit forecasts over concerns of flagging demand and fewer new orders, according to a survey released Monday. The Markit survey showed business sentiment in the nation reached a record low.
Only 17 percent of Chinese businesses surveyed expected an increase in business activity in the next 12 months compared with 25 percent in June. Confidence waned in both the service and manufacturing sectors, according to the report, and the degree of optimism among Chinese companies was well below the global average of 25 percent.
5. Yahoo Inc (O:YHOO) has appointed management consulting firm McKinsey & Co to help with the reorganization of its core businesses, technology news website Re/code reported on Monday.
McKinsey will help Yahoo decide which units to shut, sell or invest in, Re/code said, citing several people close to the situation. (http://on.recode.net/1QdGTOu)
Yahoo, which is preparing to spin off its 15 percent stake in Chinese e-commerce giant Alibaba Group Holding Ltd (N:BABA), declined to comment, as did McKinsey.
Yahoo has been struggling to boost revenue from ad sales in the face of stiff competition from Google (O:GOOGL) and Facebook Inc (O:FB).
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