Concerns that a trade deal between the U.S. and China may not be imminent reined in a rally in world equity markets and reversed gains on Wall Street on Friday, while strong U.S. wage growth boosted U.S. bond yields.
U.S. drugmaker AbbVie Inc on Friday lowered its overseas sales forecast for its top-selling medicine, Humira, as it agreed to larger-than-expected price cuts due to new European competition.
The United States said on Friday it will temporarily allow eight jurisdictions to keep importing Iranian oil when U.S. sanctions come back into force on Monday, sparing them for now from the threat of U.S. economic penalties.
President Donald Trump’s bet that tax cuts and a gush of government spending would smooth the path to a second term may falter as cracks begin to appear in a decade-old recovery.
U.S. semiconductor supplier Broadcom has made a patent claim for more than $1 billion against Volkswagen and is threatening to seek a judicial ban on the production of several car models, German magazine Der Spiegel said on Friday.
Tesla Inc said on Friday it received a subpoena from the U.S. Securities and Exchange Commission regarding certain projections the electric car maker made for Model 3 production rates during 2017.
The Securities and Exchange Commission assessed $3.945 billion in disgorgement and penalties across 821 enforcement actions in fiscal 2018, the agency’s enforcement division said in its annual report on Friday.
U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December.
U.S. stocks gave up early gains to trade lower on Friday morning, as Apple extended losses and dragged down technology stocks after it gave a disappointing forecast, adding to fears of a slowdown in corporate growth.
AbbVie Inc said on Friday rival biosimilar versions of its best-selling drug Humira were available in Europe at discounts ranging from 10 percent to 80 percent.
Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.
China’s Alibaba Group Holding Ltd lowered its full-year sales forecast on Friday due to concerns about the economic impact of a U.S.-China trade spat, which the company expects will dent revenue ahead of its top sale season.
The United States is expected to spare eight countries from U.S. sanctions because they have significantly cut imports of Iranian oil, two sources familiar with the matter said on Friday.
U.S. oil and natural gas producer Chevron Corp said on Friday its quarterly profit doubled as record oil and gas production helped overcome a series of one-time items.
AbbVie Inc beat Wall Street estimates for third-quarter profit on Friday, driven by strong sales of blockbuster cancer medicine Imbruvica, and the drugmaker raised its 2018 earnings forecast, sending its shares up 4 percent.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
