Apple's streaming reveal; Brexit mess; Markets sink

The video product will be competing for viewers' time and money against some of the biggest entertainment companies in Hollywood, which are creating, promoting and launching their own services in 2019.

Two major new streaming services will launch this year from Disney (DIS) and AT&T's (T) WarnerMedia, the parent company of CNN. NBCUniversal will launch its own service next year.

Apple quietly launched new gadgets last week ahead of the event. It debuted its next-generation wireless earbuds, as well as a refresh of its iMac line and new versions of the iPad Air and iPad mini.

Apple's stock rose last week on positive analyst reports and in anticipation of the launch on Monday. The event starts at 1 p.m. ET, with CNN Business' coverage kicking off at 12:30 p.m.

2. Global markets sink: Worries over slowing economic growth are weighing on global markets. US stock futures were pointing lower.

Stocks dropped sharply in Asia as investors reacted to disappointing manufacturing data from Germany on Friday and a warning signal that a US recession could be on the horizon.

Japan's Nikkei dropped 3%, while Hong Kong's Hang Seng closed down more than 2%. Benchmark Chinese indexes in Shanghai and Shenzhen were off 2%.

European markets opened with more modest losses. London's FTSE 100, Frankfurt's DAX and Paris' CAC were all down around 0.5%

The new bout of fretting over the health of the global economy follows a big rebound in stock markets.

"Given just how strong equities have rallied this year, it is not surprising that investors were already questioning how much further they could go," said Kerry Craig, global market strategist at JP Morgan Asset Management.

The Dow Jones industrial average closed down 1.8% on Friday. The S&P 500 dropped 1.9% and the Nasdaq shed 2.5%.

3. Brexit mess: The pound is set for another volatile week as British politicians try to find a way forward on Brexit.

The European Union has granted the United Kingdom more time on Brexit, but the government still needs to come up with a plan to avoid crashing out of the trading bloc without a deal.

Theresa May is holding an emergency cabinet meeting at 6 a.m. ET. The embattled prime minister will then meet opposition leader Jeremy Corbyn, and deliver a statement to the House of Commons.

Votes in parliament could give a sense of how the United Kingdom will proceed.

4. Companies and economics: Winnebago (WGO) will release its earnings report before the open.

Boeing (BA) is stepping up its efforts to sort out the 737 MAX mess. Pilots from the three American carriers that fly the planes tested software changes developed by Boeing to a key stabilization system on Saturday, a person briefed on the tests said. The changes are intended to decrease the chances of triggering the Maneuvering Characteristics Augmentation System, or MCAS, which is believed to have played a role in the Lion Air crash in October. The Federal Aviation Administration has said there are similarities between that crash and a second 737 MAX crash earlier this month in Ethiopia.

Naspers (NAPRF), the biggest investor in China's Tencent (TCEHY), has announced a plan to spin off its international internet assets. The company said it want to list the new company in Amsterdam. Naspers said it will own approximately 75% of the new company, which includes holdings in tech companies like Tencent, mail.ru and DeliveryHero.

5. Coming this week:
Monday — Apple event
Tuesday — US building permits; US housing starts; S&P/Case-Shiller home prices; McCormick (MKC) and Carnival (CCL) earnings
Wednesday — US balance of trade data; Lululemon (LULU) earnings
Thursday — UK consumer confidence; US final estimate Q4 GDP
Friday — Huawei earnings; Carmax (KMX) earnings

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