10 things you need to know before the opening bell

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Here is what you need to know.

1. Gold soars to its highest price since 2013 as Trump and Iran escalate threats. Traders fled to safety as Trump doubled down on Iran threats while Iran abandoned a 2015 nuclear pact. Gold was up 1.7% in Monday trading in London.

2. Trump doubled down on his threat to target cultural sites in Iran — an act that could be considered a war crime.
Trump has threatened to target Iranian cultural sites if Iran retaliates after the US killed General Qassem Soleimani in an airstrike.

3. Goldman Sachs says 'gold is a better hedge than oil' as Trump-Iran tensions heat up. As tensions between the US and Iran ratchet up, oil has spiked along with gold prices as traders fear energy supply disruptions and flock to haven assets.

4. Iran would target US military personnel and bases to avenge Soleimani's death, top Iranian general warns.
Maj. Gen. Hossein Dehghan told CNN Iran's response to the US assassination of Qassem Soleimani "for sure will be military and against military sites."

5. Boris Johnson warns Trump that targeting Iranian cultural sites would break international law. The United States' European allies pile the pressure on Trump to step back from war with Iran and show "restraint and responsibility."

6. Carlos Ghosn slipped out of Japan undetected because the crate he hid in was too big for a Japanese airport's baggage scanners. Former Nissan CEO Carlos Ghosn fled Japan on December 29, reportedly concealed inside a crate for musical instruments. He is now in Beirut.

7. Golden Globes host Ricky Gervais roasted Apple for its 'Chinese sweatshops' in front of hordes of celebrities as Tim Cook watched from the audience. Gervais described Apple TV+ drama "The Morning Show" as "made by a company that runs sweatshops in China."

8. Stocks are slipping. US futures underlying the Dow (-0.5%), S&P 500 (-0.4%), and Nasdaq (-0.5%) are falling, pointing to a decline on the open. European stocks followed with the FTSE 100 (-0.8%), the DAX (-1.3%), and the Euro Stoxx 50 down (-0.9%). Asian stocks were under pressure with the Shanghai Composite flat, and the Nikkei (-1.9%) and Hang Seng (-0.8%) declining.

9. There's no major earnings on the calendar today, though State Street is a highlight.

10. It's a light day for data. Markit PMI Composite is a highlight.