Good morning! Here's what you need to know in markets on Tuesday.UK construction numbers are comingand they're set to be terrible. Markit's construction PMI for July is due at 9.30 a.m. BST (5.30 a.m. ET), with economists predicting the sector will shrink at an faster pace than the prior month. The reading is forecast to come in at 43.8, compared to 46.0 in June. Any number below 50 signals a contraction in activity, while above 50 means growth.JPMorgan Chase CEO Jamie Dimon says the United Kingdom's decision to leave the European Union could lead to duplicate costs to provide banking services to European customers. Dimon, speaking on CNBC television during a bus tour of bank offices in California, said it is too early to tell how much of the work the bank now does from the UK might have to be done redundantly in Europe.Goldman Sachs thinks it's time to sell some stocks. In a note to clients on Sunday, Goldman strategist Christian Mueller-Glissmann moved his team's portfolio weighting recommendation on stocks to Underweight from Neutral, effectively giving clients the green light to sell down some of their stock holdings.Japan is diving. The benchmark Nikkei stock market is down 1.28% at the time of writing (6.40 a.m. BST/1.40 a.m. ET). China's Shanghai Composite is up 0.01% and the Hong Kong Hang Seng is closed after a serious typhoon in the city. US stocks were flat overnight.Bank of America said its business, results, and operational model could be adversely affected if economic volatility stemming from Britain's vote to exit the European Union continues. The Brexit vote has introduced "complexities and variables" in calculating fair values of certain businesses, the bank said in a regulatory filing on Monday.Theranos, the Silicon Valley blood-testing company that's been under fire for almost a year, presented at a scientific conference for the first time on Monday. But the company left unanswered many of the key questions about the science behind its blood tests, instead choosing to focus on new technology called the Theranos Virtual Analyzer and Theranos Sample Processing Unit, or miniLab.Salesforce is buying Quip, the productivity app founded by Facebook's former CTO, Bret Taylor. TechCrunch is reporting the acquisition price at $750 million (568.6 million). In the four years since founding Quip, Taylor had raised $45 million (34.1 million). The app allows users to create and edit documents online with a real-time commenting system.Australia's central bank cut interest rates to a new record low Tuesday in a widely expected decision after a recent run of soft inflation readings. The 25 basis points cut to 1.5% means the Reserve Bank of Australia has slashed rates by 300 basis points since November 2011 to support the economy as it transitions towards non-resources growth after an unprecedented mining investment boom.July was the worst month for crude oil in a year. The usual seasonal boost in demand that could be helping prices is lackluster right now, Barclays' Michael Cohen and his team wrote in a note on Monday. This postpones any chances for the market to balance out, he said.Chinese e-commerce giant Alibaba wants to start negotiations with one or two countries following the G20 summit in September about its plan to create a global e-commerce platform, which company founder and chief Jack Ma says can help knock down trade barriers. Ma said he hoped global enterprises, including rival Amazon, would work together to create the new platform to connect smaller enterprises around the world.Join the conversation about this storyNOW WATCH: These are the watches worn by the smartest and most powerful men in the world
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