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Premarket: What you need to know before the clock



The private company did not reveal the profits, but said the net profit margin had increased slightly to 8%.

Huawei sells more telecommunications equipment than any other company in the world, and the smartphone business is growing faster than Samsung or Apple ( AAPL ) .

But it has come under strong pressure from an American campaign to curb its ambitions to become the global leader of next-generation wireless technology or 5G.

Huawei announced its 5G business in its statement on Monday, saying it has signed 40 commercial contracts for 5G with leading global operators.

2. Iran sanctions: Crude oil futures have spiked after the Washington Post reported that the United States will end sanctions divorce which had allowed some countries to continue buying Iranian oil.

Secretary of State Mike Pompeo will announce Monday that the United States will no longer grant exemptions from May 2, the newspaper reported.

US crude rates increased 2.4% to $ 66.50 after the report. Brent crude, the international reference level, gave 2.7% to $ 73.90. Both markets are now at their highest level since the end of 201

8.

According to the Washington Post, Pompeo is set to announce that countries such as Saudi Arabia and the United Arab Emirates have agreed to make up for lost supplies from Iran. [19659010] 3. Tesla Problems: This creates a very large week for Tesla ( TSLA ) .

The company is likely to face difficult questions from investors and customers after one of its cars appeared to explode in China.

A short video circulating on social media shows white smoke coming out of what looks like a white Tesla car parked in Shanghai. After a few seconds, the vehicle bursts into flames.

"We immediately sent a team on site, and we support local authorities to establish facts. From what we know now, no one was harmed," a Tesla spokesman told CNN Business.

The electric car manufacturer will keep the investor day on Monday. It is expected to reveal a major loss on Wednesday when it reports revenue.

Tesla said on Friday that four board members will leave the company – shrinking the size of the board to seven. A deviant board member, Steve Jurvetson, is considered a close-knit by CEO Elon Musk.

4. Global market overview: US stock prices were lower. Shares in Asia were mixed. The European markets were closed for a holiday.
Dow Jones industrial average excluded the shortened trading week by 0.4% on Thursday. S & P 500 added 0.2% and Nasdaq was closed flat.
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5. Revenue and Economy: Halliburton ( HAL ) will release earnings before the opening. Whirlpool ( WHR ) will follow the tour.

A report on US existing home sales for March is published at 10:00 ET.

6. Coming this week:
Monday – European markets closed, Tesla holding investor day
Tuesday -Twitter, Snap and Procter & Gamble earnings Wednesday – Facebook, Boeing, and Tesla earnings Thursday – Amazon and Starbucks earnings Friday – US First Quarter GDP; April Consumer Sentiment


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