1. European Stocks Open Higher After EU Endorsed May’s Brexit Deal
European stocks started the day on a bullish note on Monday, as investors digested the latest surrounding Brexit developments. Over the weekend, leaders from the European Union chose to endorse the Brexit withdrawal deal laid out by U.K. Prime Minister Theresa May. The President of the European Commission, Jean-Claude Juncker said that the U.K. leader’s agreement was the best deal possible for the U.K. The pan-European STOXX 600 started the session up 0.92 percent, with all major bourses and sectors trading in the green.*
2. Oil Prices Edge Higher After Black Friday Free Fall
Oil prices recovered somewhat on Monday morning, after plummeting almost 8% on Friday. Specifically, Brent crude oil futures (CL_BRENT) were at $59.94 per barrel as of 8:00 GMT, up 1.5% this morning, while U.S. West Texas Intermediate (USOIL) crude futures, were up 69 cents, or 1.3 percent, at $51.05 per barrel. It should be noted however that Monday’s gains did little to make up for the almost 8-percent plunge on Friday, which traders have already dubbed ‘Black Friday’.**
3. Apple Faces Supreme Court Over App Store
An antitrust lawsuit against Apple (AAPL) will reach the U.S. Supreme Court today, determining whether the tech giant created a monopoly by only allowing apps to be sold through its first-party App Store. The suit also claims the App Store charges excessive 30% commissions, generating an estimated $11B in revenue for the company in 2017. If the justices allow the case to go forward in the lower courts and Apple eventually loses, it could disrupt the App Store and expose it to millions of dollars in damages. It should also be noted that Apple shares have taken a hit on Friday, plummeting to 5 month lows to finish the week at $172.29 or 2.54% lower on Friday.***
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*Source: Reuters Nov 26, 2018 2:48 AM ET
**Source: CNBC Nov 26, 2018 5:53 AM ET
***Source: Coin Telegraph Nov 26, 2018 03:07 AM ET
