US MARKETS:

S&P 500 futures down 0.4% to 2,734.00

Brent futures down 1.1% to $58.88/bbl

Gold spot down 0.2% to $1,221.86

US Dollar Index up 0.2% to 97.00



GLOBAL NEWS:

Dilemma for Switzerland. The alpine country must choose whether to implement a contingency plan to protect its stock market before new EU rules enter into force. As a result of these new measures, its exchanges would lose their temporary equivalence, which expires at the end of December. Brussels has not signaled yet whether it is willing to grant another extension. The Swiss government has set itself a Dec. 1 deadline for putting into force a countermeasure, according to Bloomberg.

WH meeting. German car manufacturers (Daimler, Volkswagen, BMW) are expected to be received by the White House next Tuesday for a crucial meeting as Donald Trump once again raised the threat of a car surtax.

Goldman targeted. The SEC is preparing an extensive investigation into Goldman Sachs and its involvement in the 1MDB case, Bloomberg has learned. The investigations would cover both the bank and some of its employees/managers.

Club Med’s IPO. Fosun Tourism Group, the Chinese owner of resort brand Club Med, has started taking orders for a Hong Kong initial public offering of as much as $548 million.

Altice is getting lighter. Altice Europe will sell 49.99% of its French fiber-to-the-home venture to a pool comprising Allianz, Axa and OMERS for €1.8 billion ($2.05 billion). The funds will be used to reduce the group's huge debt.

Bayer is restructuring. The German giant will cut 12,000 jobs and sell assets, including its animal health, which could generate €7 billion. Scholl and Coppertone are also in Bayer's planned divestment basket.

Kering in the jewelry business. François-Henri Pinault will launch Gucci in the” haute-joaillerie”. A first collection is expected in mid-2019. Kering's boss made the announcement in French newspaper 'Le Figaro'.

Update. Boeing may update its B737MAX stabilization software after the Indonesian crash. Informants told Reuters that the manufacturer could deploy its update within six to eight weeks.

GM believes in Cruise. The president of General Motors will lead the group’s autonomous vehicle subsidiary Cruise. Dan Amman's appointment underlines the importance of this division, which is said to be subject to a spinoff to raise funds.

In other news. The market is worried about Twitter after Fox News stopped tweets. In Spain, El Corte Ingles is partnering with Alibaba. The former boss of Autonomy accused of fraud in the HP case dating back to 2011.