Here is what you need to know.
- The Trump Administration threatens the EU with tariffs. The White House on Tuesday said it was looking into tariffs on $11 billion of imports from the European Union in response to subsidies it gives to the Boeing rival Airbus.
- China may stop bitcoin mining. China’s National Development and Reform Commission’s revised list of activities that should be phased because they did not adhere to laws and regulations includes cryptocurrency mining, Reuters says. The NDRC is seeking public opinions on the matter through May 7.
- A stock picker who is beating 92% of his peers lifts the curtain on his success. Jim Tierney, the chief investment officer of the $522 million AB Concentrated Growth Fund, shares his investment thesis on five of his longest-held companies.
- Carlos Ghosn is back in jail. "If you are listening to me through this video today it means that I was not able to make the press conference I planned for April 11," the former Nissan-Renault-Mitsubishi executive said in a video that was pre-recorded before he was arrested in a predawn raid on Tuesday.
- Google beats Amazon to delivery drones. Alphabet startup Wing has received approval from Australia’s Civil Aviation Safety Authority to launch a delivery drone in Canberra, Australia.
- Societe Generale is eliminating 1,600 jobs. Most of the cuts will occur in the corporate and investment banking arm, the bank announced Tuesday.
- Here’s where Wall Street stands on Tesla. Tesla has long been a battleground stock — here’s where analysts at major Wall Street banks stand on the electric-car maker.
- Stock markets around the world were mostly higher. Hong Kong’s Hang Seng (+0.47%) led the gains in Asia and Britain’s FTSE (+0.29%) was out front in Europe. The S&P 500 was set to open down 0.11% near 2,893.
- Earnings reports trickle out. Levi Strauss will report after markets close.
- US economic data is light. JOLTS Job Openings will be released at 10 a.m. ET. The US 10-year yield was down 1 basis point at 2.51%.
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- This beautifully designed ‘dumb phone’ can only make calls and send texts — and it might be the key to curing our addiction to apps