U.S. stock futures were lower Monday, pointing to a loss for the Dow Jones Industrial Average after Friday's "Goldilocks" jobs report-driven 372-point rally. The U.S. and China resume high-level trade talks in Washington on Thursday and Friday. However, Beijing may want to narrow the scope of the negotiations, excluding industrial policy or government subsidies, according to Bloomberg News. The risk of a recession is rising, and the main threat to the economy is the Trump administration's trade war, according to a panel of economists surveyed by the National Association for Business Economics.
Concern about the U.S.-China trade war and its impact on the American economy is happening as the House Democrats' impeachment inquiry moves forward against President Donald Trump. A second whistleblower in the Ukraine call at the center of the inquiry has come forward. The lawyer who represents both whistleblowers said the new one has firsthand knowledge of key events and can corroborate the original one. The White House has sought to discredit the first whistleblower because that person's account was based on secondhand information.
Bernie Sanders is unveiling a major campaign finance plan, continuing his 2020 presidential bid even as he's at home recuperating from a heart attack. The Vermont senator said Monday that as president he'd enact mandatory public financing laws for all federal elections and ban corporate donations for inaugural events. The Sanders campaign told CNBC last week the senator plans to attend the next Democratic presidential debate on Oct. 15 in Ohio.
Talks to end the 3-week-old strike against General Motors have "taken a turn for the worse," the United Auto Workers said Sunday. GM, in response, said the company continues "to negotiate in good faith." A source familiar with the talks told CNBC that one of the union's main concerns with the most recent offer was the company's lack of commitment to new products for U.S. plants. Prior to the talks, GM was expected to attempt to negotiate the closure of up to four domestic plants.
Citi upgraded Uber to buy on Monday, saying that while recent overhangs like California's law on contractors and the IPO lockup might continue, there was now more clarity as to how headwinds would impact the company going forward. The firm upgraded the ride-hailing giant to buy from neutral but kept its price target of $45 per share, which was the initial public offering price in May. Uber shares were moving higher in premarket trading, but they're still nearly 35% below their IPO price.
— The Associated Press contributed to this report.