The S&P 500 index was set to open at a record high on Wednesday, bolstered by rising bets of an interest rate cut as global benchmark bond yields fell to new lows on growth fears.
The U.S. trade deficit jumped to a five-month high in May as imports of goods increased, likely as businesses restocked ahead of an increase in tariffs on Chinese merchandise, eclipsing a broad rise in exports.
Shares of Tesla Inc jumped 8% on Wednesday after Chief Executive Officer Elon Musk made good on his promise of delivering record number of electric cars in the second quarter, quelling fears about demand for its sedans and SUVs.
Investors returned to bonds on Wednesday, setting off another slide in benchmark debt yields, amid fears of a global trade war and recession, bets central banks will cut interest rates and falling oil prices.
U.S. stock index futures edged higher on Wednesday, as benchmark bond yields tumbled on fears of a global recession and expectations of interest rate cuts by central banks.
Deutsche Bank expects the cost of a major overhaul in the works to be up to 5 billion euros ($3.4-$5.6 billion), one person familiar with the matter said on Wednesday.
Walmart Inc has discussed the potential sale of its unprofitable clothing brands Bonobos and Modcloth with buyers, online news portal Vox reported https://www.vox.com/recode/2019/7/3/18716431/walmart-jet-marc-lore-modcloth-amazon-ecommerce-losses-online-sales on Wednesday, citing sources familiar with the matter.
Britain’s markets watchdog is proposing banning the sale of derivatives based on crypto-assets to retail consumers from early 2020 due to what it considers the prevalence of market abuses.
Police are searching Renault’s corporate headquarters in Boulogne-Billancourt, which a judicial source said was related to an ongoing investigation into ex-Renault boss Carlos Ghosn and his use of Versailles for his 2016 wedding party.
Police are carrying out a search at Renault’s corporate headquarters in Boulogne-Billancourt, said Renault on Wednesday, adding it would not comment further on the nature of the search.
Oil prices rebounded slightly on Wednesday after a steep fall in the previous session as OPEC and its allies’ decision to extend output cuts was not enough to counter investors’ concerns about the slowing global economy.
Several technology companies, including HP Inc , Dell Technologies and Microsoft Corp , are planning to shift substantial production capacity out of China, Nikkei reported on Wednesday, citing sources.
Action on world markets focused on bonds on Wednesday, with a fresh slide in benchmark debt yields on simmering global trade war and recession fears, central bank easing bets and ebbing oil prices.
Oil prices were steady on Wednesday after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.
Samsung Electronics is likely to say second-quarter profit more than halved when it reports preliminary earnings on Friday, data showed, as a drop in memory chip shipments to China’s embattled Huawei exacerbated a price-squeezing supply glut.
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