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Here is what you need to know.
Doubts are growing that OPEC can reach an agreement. Key members still cannot agree on how much oil production should be cut ahead of Wednesday’s meeting. Brent crude oil, the international benchmark, trades down 2% at $47.43 a barrel.
China is trying to limit capital outflows. Regulators are requiring transfers abroad worth $5 million or more to be reported to the State Administration of Foreign Exchange, Reuters reports. Previously, transfers of $50 million or more needed to be reported.
Korea’s president is willing to resign. Scandal-ridden Korean President Park Geun-Hye said in a TV address to the nation, «Once lawmakers come up with measures to transfer power in a way that minimizes any power vacuum and chaos in governance, I will step down.»
UnitedHealth is optimistic on 2017. The health insurer preannounced guidance for 2017 saying it expected to earn an adjusted $9.30 to $9.60 a share on revenue of $197 billion to $199 billion.
AT&T unveils DirecTV Now. The streaming-TV service launches Wednesday and will give subscribers 60 channels for $35 a month or 120 channels for $70 a month.
Theranos and its founder got hit with another lawsuit. The blood-testing company and its founder, Elizabeth Holmes, are being sued by investors who claim she lied about the technology. Theranos is also facing lawsuits from a major investor, patients, and Walgreens.
Uber drivers are protesting nationwide. Drivers for the ride-hailing service will protest across the US on Tuesday, joining the «Fight for $15» minimum wage.
Stock markets around the world are mixed. Overnight, China’s Shanghai Composite (+0.2%) eked out a gain. In Europe, Britain’s FTSE (-0.6%) lags. The S&P 500 is set to open up 0.2% near 2,205.
Earnings reporting is light. Tiffany & Co. reports ahead of the opening bell.
US economic data flows. GDP will be released at 8:30 a.m. ET before S&P Case Shiller home prices and consumer confidence cross the wires at 9 a.m. and 10 a.m. ET.
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