London CNN Business  — 

1. Tesla sales: Tesla is probably about to report the largest drop in auto sales in the company’s history.

SoftBank (SFTBY) will also have the option of selling another 240 billion yen ($2.1 billion) of shares if investor demand is strong. That would make the IPO bigger than $23 billion.

It would be the world’s biggest listing since Alibaba (BABA) went public in New York in 2014. The listing is set to take place on the Tokyo Stock Exchange on December 19.

The IPO is a key part of CEO Masa Son’s efforts to reposition SoftBank as a global tech investor.

2. Walgreens earnings: The Walgreens Boots Alliance (WBA) will release its earnings report before the open. It’s been a rough few months for the drug store.

Speaking at a conference in Abu Dhabi, Saudi energy minister Khalid Al Falih said the kingdom’s oil output would fall by 500,000 barrels per day in December.

Members of the Organization of Petroleum Exporting Countries and its allies could reduce supply further next year.

“The consensus among all members is that we need to do whatever it takes to balance the market,” Al Falih said. “If that means trimming supply by a million [barrels per day], we will do it.”

Brent crude, the international benchmark, jumped as much as 2.4% to $71.80 per barrel. US crude futures were 1.6% higher, trading just above $61 per barrel.

Global oil prices tumbled into a bear market last week, down more than 20% from their peak. Fears of a global economic slowdown and a decision by the United States to allow some countries to keep buying Iranian crude oil following the reintroduction of sanctions have hit market sentiment.

3. Brexit troubles: The pound dropped as much as 1.2% against the dollar on Monday as Prime Minister Theresa May found herself under growing pressure over her plan for Brexit.

Boris Johnson, the former UK Foreign Secretary, said cabinet members ought to mutiny over the plan. Writing in the Daily Telegraph, he said May’s plan would turn the United Kingdom into “a vassal state.”

The warning came just two days after Boris’ brother Jo Johnson, an opponent of Brexit, resigned from the UK government over Brexit. He said the 2016 referendum campaign was based on a “fantasy set of promises” that could not be delivered.

Britain is set to leave the European Union in March next year. A divorce agreement between the two sides has not yet been finalized, stoking fear among investors and businesses of a chaotic no-deal Brexit.

5. Global market overview: US stock futures were pointing lower.

European markets opened mostly higher, following a positive trading session in Asia.

The Shanghai Composite rose 0.1%. Hong Kong’s Hang Seng increased 0.8%, and Japan’s Nikkei rose 0.5%.

The Dow Jones industrial average closed 1.3% higher on Monday, the index’s highest close since October. The S&P 500 added 1.2% and the Nasdaq gained 1.3%.

The S&P 500 was 1% lower on Friday, while the Nasdaq dropped 1.7%.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

6. Earnings and economics: Dave & Busters (PLAY) and GameStop (GME) will release earnings after the close.

Alibaba (BABA) was trading lower premarket despite smashing the record for its online retail blitz known as Singles Day. China’s biggest e-commerce company said sales topped $30 billion over a 24-hour period Sunday, soaring past last year’s record of about $24 billion.

Diageo (DEO) said Monday it is selling a portfolio of 19 spirit brands to Sazerac for $550 million in order to focus on premium US brands. The stock was little changed after the announcement.

Shares in British American Tobacco (BTI) dropped 8.3% in London on Monday on reports that menthol cigarettes might be banned in the United States.

Markets Now newsletter: Get a global markets snapshot every afternoon. Sign up now!

7. Coming this week:
Tuesday — Walgreen earnings; Tesla (TSLA) sales figures; US February durable goods orders
Wednesday — US ISM services
Thursday — Constellation Brand earnings; Reserve Bank of India rate decision
Friday — US March jobs report; EU finance ministers meet

Monday — Eventbrite (EB) earnings; Markets open for Veterans Day
Tuesday — Aramark (ARMK), L Brands (LB), Childrens Place (PLCE), Home Depot (HD) and Tyson Foods (TSN) earnings
Wednesday — Blue Apron (APRN), Progressive (PGR), Cisco Systems (CSCO), Gap (GPS), and Macy’s (M) earnings; Inflation numbers for October
Thursday — Nvidia (NVDA), Nordstrom (JWN), Walmart (WMT), and Manchester United (MANU) earnings; October retail sales
Friday — Williams-Sonoma (WSM) earnings