5 things to know before the stock market opens Monday

U.S. stock futures were pointing to a higher open Monday on Wall Street after the Dow Jones Industrial Average, S&P 500 and Nasdaq gained ground on Friday but still broke multiweek winning streaks. U.S.-China trade talks headlines kept investors on their toes. On Sunday, in the Chinese territory of Hong Kong, pro-democracy candidates won big in local elections in a sign that voters support the monthslong anti-government protests that have, at times, turned violent. U.S. national security advisor Robert O’Brien said Saturday the U.S. wants a “phase one” trade deal with China but the Trump administration is “not going to turn a blind eye” to the Hong Kong protesters’ plight to keep China from eroding freedoms there.

Charles Schwab on Monday announced plans to buy discount brokerage rival TD Ameritrade in an all-stock deal valued at $26 billion. CNBC first reported Thursday that the companies were talking about a deal. Shares of TD Ameritrade shot up nearly 17% that day and in premarket trading Monday were up about 1%. Schwab shares were down 1% in Monday’s premarket after advancing 7.3% Thursday. Consolidation in the brokerage industry had been expected because of disruption from Silicon Valley and major brokerages’ decisions to drop online stock trading commissions.

French luxury giant LVMH has reached a deal to buy iconic New York jeweler Tiffany & Co., for $16.2 billion in cash, or $135 per share. Tiffany shares, up nearly 6% in premarket trading Monday, closed more than 30% higher on Oct. 28 after LVMH made a $120-per-share offer. LVMH has built a large portfolio of luxury brands across different retail sectors, from fashion to perfume, including Dom Perignon, Givenchy and Louis Vuitton. Confirming the deal, which CNBC first reported Sunday, LVMH said in a statement, “The acquisition of Tiffany will strengthen LVMH’s position in jewelry and further increase its presence in the United States.”

Uber on Monday was stripped of its license to operate in London. As part of its decision not to renew Uber’s license, Transport for London cited a “pattern of failures” that had “placed passenger safety and security at risk.” The city regulator had first suspended Uber’s license in 2017, raising concerns with the San Francisco-based ride-hailing giant’s approach to safety. Following that initial move, Uber had twice been granted a temporary license to continue operating in London. The ruling would take effect if Uber looses an appeal. Shares of Uber were losing about 5% in the premarket Monday.

Mike Bloomberg has officially entered the 2020 Democratic presidential race, launching a multimillion dollar ad campaign following weeks of speculation about whether the billionaire businessman and former New York City mayor would join the already-crowded field. “We cannot afford four more years of President Trump’s reckless and unethical actions,” Bloomberg said on his website Sunday. With its founder in the race, Bloomberg News will refrain from investigating him and his Democratic rivals, according to a memo sent to editorial and research staff obtained by CNBC. Bloomberg News will cover the campaigns of the Democratic candidates, including that of Bloomberg.