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Morning Brief: Gilead snares Roche exec as its CEO

Monday, December 10, 2018

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What to watch today

Last week was rough for the markets as trade war fears continued to spook investors. The S&P 500 (^GSPC) slid 4.6%, the Nasdaq (^IXIC) tumbled 4.93%, and the Dow (^DJI) sank 1,149.51 points to close out the week. It was the worst week for all three of the major indices in more than eight months. Will the selling continue?

The economic calendar is light. Monday comes with the October report on job openings and labor turnover. This follows Friday’s disappointing employment report.

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Top news

REUTERS/Ruben Sprich
REUTERS/Ruben Sprich

Gilead Sciences snares Roche veteran as CEO: Drugmaker Gilead Sciences Inc. (GILD) on Monday named Roche Holding AG’s Daniel O’Day as its new chief executive, tapping an industry veteran to fill a management vacuum. [Reuters]

Huawei CFO bail hearing to resume as Beijing steps up pressure: A top executive of Chinese tech giant Huawei Technologies is due back in a Canadian court on Monday where she’ll fight for her freedom with the help of pressure from Beijing against prosecutors’ claims she cannot be trusted. [Reuters]

Ghosn formally charged, Nissan also indicted: Tokyo prosecutors officially charged ousted Nissan Motor chairman Carlos Ghosn on Monday for under-reporting his income and extended his detention on suspicion of additional financial misconduct. [Reuters]

How the pound could fare after Brexit vote: The pound could fall below the value of the euro for the first time in history if MPs reject Theresa May’s draft deal and a no-deal Brexit becomes more likely, according to the most bearish estimates. [Yahoo Finance]

Musk blasts SEC, United Auto Workers on ‘60 Minutes’: Elon Musk, the chief executive officer of both Tesla Inc. (TSLA) and Space Exploration Technologies Corp., opened up about his tumultuous year in a wide-ranging interview with CBS’s ’60 Minutes.’ [Bloomberg]

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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.