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Chris Lau

Monday Morning Chatter

No need for shades today. Futures just not bright enough. Gold and Crude up slightly while Bitcoin is down below the all-important $10,000, although coverage of this has been lacking.

The owner of the NYSE, Intercontinental Exchange, launched its long-delayed market for bitcoin futures Sunday evening, challenging its longtime rival, CME Group, which introduced its own bitcoin futures in December 2017.

Shanghai-based NIO Inc. is poised to report Tuesday that it lost another 2.6 billion yuan ($369 million) — around $4 million a day — during the second quarter, according to the average of two analyst estimates. That would bring accumulated losses at the company, which is backed by technology giant Tencent Holdings Ltd., to about $5.7 billion since William Li founded the carmaker in 2014. Ouch. 

Have no fear. Tesla will be fine in China.

Speaking of Tesla, more news and it not overly positive. Tesla's board of directors must stand trial to defend CEO Elon Musk's multibillion dollar pay package, according to a ruling from a Delaware judge, after a shareholder suit alleged corporate waste and unjust enrichment. Telsa longs will say that this is a "nothing burger," whatever that is, or simply choose to ignore the continued troubles that come with Elon Musk. The company - which has yet to post an annual profit - did not meet any of its performance milestones last year, so Musk received no compensation. Wait a second...Tesla has yet to post an annual profit? Wow.

Ten of Apple's 15 requests for exclusions from 25% tariffs on Chinese imports for the upcoming Mac Pro computer have been approved, Bloomberg reports, citing the U.S. Trade Representative's office. 

Following a historic tie in 2018, HBO held off Netflix in this year's Emmy race, taking home 34 trophies including best drama series for the final season of Game of Thrones.

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