AP/Michel Euler
Here is what you need to know.
- Oil spikes on report the US will end Iran oil waivers. West Texas Intermediate crude oil climbed 2.4% to $65.50 a barrel Monday morning after Bloomberg reported the US would end waivers that allow some countries, including China and India, to buy Iranian oil without facing sanctions.
- Italy is trapped in a ‘perma recession.’ Italy has a 2 trillion euro debt load that threatens the eurozone itself, analysts told Business Insider.
- Carlos Ghosn faces new charge. The former Nissan Motors chairman on Monday applied for bail after being charged with aggravated breach of trust, Reuters says.
- Tesla shakes up its board. Four board members (Brad Buss, Linda Rice, Steve Jurvetson, and Antonio Gracias) will leave their posts once their terms have ended, the electric-car maker announced Friday.
- Goldman Sachs’ top US ETF trader jumps ship for JPMorgan. Edward Rossetti, the head of exchange-traded-fund trading in the US at Goldman Sachs, is heading to JPMorgan, people familiar with the matter told Business Insider.
- Warren Buffett isn’t always right. Markets Insider looked at 12 of Buffett’s predictions over the years about things like cryptocurrency, table tennis, and even his death, and assessed the accuracy of each.
- A top-ranked wealth manager explains a huge strategic shift she made after 20 years of success. Rebecca Rothstein, who manages $3.8 billion for the ultra-wealthy, explains why she decided to invest in stocks almost exclusively through exchange-traded funds.
- Most of Europe is closed for Easter Monday. China’s Shanghai Composite (-1.7%) led the losses in Asia, while the S&P 500 is set to open little changed near 2,907.
- Earnings reporting picks up. Halliburton and Kimberly-Clark will report ahead of the opening bell, while Whirlpool releases its quarterly results after markets close.
- US economic data is light. Existing-home sales will cross the wires at 8:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.57%.
