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Here is what you need to know. 

  1. The US indicts Huawei and its CFO. The Chinese tech giant Huawei and CFO Meng Wanzhou on Monday were charged with bank and wire fraud in a crackdown on the company which is required to aid China’s Communist Party upon request.
  2. We now know the damage the government shutdown caused to the US economy. The shutdown cost the US economy $3 billion that it’ll never recover, according to an estimate from the Congressional Budget Office.
  3. The housing market isn’t as bad as it seems“Don’t believe the narratives of a housing collapse,” Bank of America Merrill Lynch economists led by Michelle Meyer told clients in a recent note. “The sector is challenged but should only be a slight drag on growth.
  4. The Fed meets. The Federal Reserve kicks off a two-day meeting Tuesday. The central bank is expected to keep interest rates on hold, but traders will be looking for clues as to when the next rate hike may occur
  5. The co-chief investment officer at the world’s biggest hedge fund says the US economy is headed for ’20 years of ugliness.’ Bob Prince, the co-chief investment officer at Bridgewater Associates — the world’s biggest hedge fund by assets— sat down with Business Insider CEO Henry Blodget and explained why the US economy’s next set of problems will be different from the 2008 financial crisis.
  6. PG&E files for bankruptcy. The embattled California utility filed for Chapter 11 bankruptcy protection Tuesday morning as it faces $30 billion in fire costs.
  7. Nvidia gets slammed after warning about soft conditions in ChinaNvidia shares plunged nearly 14% Monday after CEO Jensen Huang said declining macroeconomic conditions, particularly in China, hurt demand for his company’s gaming graphics processing units.
  8. Stock markets around the world were mixed. Hong Kong’s Hang Seng (-0.16%) led the losses in Asia and Britain’s FTSE (+1.37%) was out front in Europe. The S&P 500 was set to open little changed near 2,642.
  9. Earnings reporting picks up. 3M, Harley-Davidson, Lockheed Martin, Pfizer, and Verizon report ahead of the opening bell while AMD and Apple release their quarterly results after markets close.
  10. US economic data is expected to be heavy. The government continues to get back up to speed following the shutdown. 

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