5 things to watch out for on Monday on Wall Street By Investing.com

Investing.com – Here are the five main issues that are pending on Monday, September 2 in the financial markets.

1. US futures Labor Day drops after a new round of tariffs

Wall Street will remain closed on the occasion of the national holiday of Labor Day, so that US futures descend on Monday after entering into force the previous day the new round of tariffs previously announced. The United States on Sunday implemented tariffs on approximately $ 110 billion in imports from China, while Beijing responded with retaliatory tariffs.

Chinese state media have reported that the government was willing to stand firm in the dispute and increase economic support if necessary.

2. Argentina authorizes capital controls

The Government of Argentina has authorized capital controls this Sunday in an attempt to curb a fall in its foreign exchange and peso reserves, given concerns that the country could again incur a default.

Argentina has said that it must "adopt a series of extraordinary measures aimed at guaranteeing the normal functioning of the economy."

This measure implies that companies will need permission from the central bank to access the forex market to buy currencies and make transfers abroad.

3. It falls after the new tariffs; Hurricane Dorian in the spotlight

Oil prices fall on Monday after a new round of US and Chinese tariffs entered into force, raising concerns about a new impact on global growth and demand for crude oil. Part of Beijing's retaliatory tariffs include a new 5% tax on US oil.

Ballasting the gains even further, Hurricane Dorian became a category 5 storm, the most powerful of recent times to reach the northwest of the Bahamas.

Parts of Florida are already being evacuated, and oil markets will closely monitor the development of events to see if producers decrease production and how the storm affects demand.

4. Boeing 737 MAX (NYSE: NYSE 🙂 could stay grounded until Christmas

New delays in resuming Boeing 737 MAX activity could keep the fleet confined on land until Christmas, according to the Wall Street Journal.

Sources have told the newspaper that Boeing has to resubmit the informative documents detailing the proposed software changes, which will likely cause several more weeks of delays that could keep the 737 MAX aircraft confined on land during the Christmas holidays.

American (NASDAQ: AAL) and United (NASDAQ: UAL) have already postponed the resumption of the activity of these aircraft until December, according to the Wall Street Journal.

5. UK lawmakers could mobilize to avoid Brexit

The members of the British parliament will return from their summer recess on Tuesday before the expectations of a possible legislative measure to block the possibility that the United Kingdom leaves the European Union on October 31 without an agreement, what is known as a "hard Brexit ".

This week we will probably see a combination of legal challenges and political maneuvering to try to prevent British Prime Minister Boris Johnson from extending Parliament – currently suspended from October 9 to 14 – or introducing legislation forcing the EU to ask for a extension of the Brexit deadline.

The possibility of a motion of censure that could potentially lead to early elections is also on the table.

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