Fallout from massive ransomware attack; India boycotts China’s trade jamboree; Oil soars on Russia, Saudi buzz

What’s new… what’s next

By Matt Egan of CNNMoney

1. Digging out from epic cyber attack

The planet’s biggest cyber attack has infected at least 150 countries and 200,000 computers since Friday. Victims of the ransomware include major companies like FedEx, hospitals and government agencies like Russia’s central bank. Microsoft said the fact the weapons were stolen from the NSA should be a “wake-up call” for governments. The good news? Authorities reported fewer aftershocks than feared. Oh, and cyber stocks popped.

2. Chinese: Trump is main draw in Kushner deal

Kushner execs didn’t attend a controversial event in China over the weekend held by the company searching for people to invest in its US developments. There was no mention of Trump or his son-in-law, White House adviser Jared Kushner. But that didn’t matter to potential Chinese investors. “The Trump ties are the attention grabber and the biggest selling point,” one developer told CNN. 

3. India boycotts China’s global trade jamboree

Vladimir Putin and representatives from dozens of countries gathered in Beijing this weekend for a lavish summit on China’s global trade program known as One Belt, One Road. One notable absence? India. The world’s fastest growing major economy chose not to attend the gathering. India is upset about China cozying up to rival Pakistan and using the disputed region of Kashmir to do so. 

4. Russia-Saudi buzz heats up the oil market

OPEC and Russia may have just had their Mario Draghi moment. Taking a page out of the ECB boss’s playbook, the energy ministers of Saudi Arabia and Russia pledged to do “whatever it takes” to stabilize oil markets. The leading oil producers said they would support a nine-month extension of the production cut deal aimed at fixing the supply glut. The news eased renewed concerns about resurgent US output and helped lift crude nearly 3% on Monday.

5. Quick Takes:

Bill Gates to grads: Fight inequality by working in AI, energy & biosciences

20 years ago if you had invested $1K in Amazon, it’d be worth $638K today

Guy who fought Wells Fargo wants the GOP to leave the CFPB alone

4 Lowe’s employees get a new work uniform. The catch? It’s an exoskeleton

Why no Wall Street freak-out to Trump turmoil? Best earnings season since ’11

6. What’s next:

More retail horror? Maybe not. Home Depot could offer a glimmer of hope to the beaten-down retail industry when it reports results on Tuesday morning. The recovering housing market continues to boost Home Depot, whose stock has soared 17% this year. But look for a more sobering set of numbers from Staples and TJ Maxx owner TJX Cos.
Bernie Sanders vs. John Kasich: CNN is hosting a town hall debate at 9 p.m. ET on Tuesday between Sanders and Kasich. Look for potential common ground on key issues like the repeal of Obamacare, the firing of FBI Director James Comey and tax reform.
Hedge fund conference in Vegas: The SALT Conference kicks off in Las Vegas, starting with speeches on Wednesday from Ben Bernanke, Eric Schmidt and David Cameron. Follow CNNMoney for the latest headlines.
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