U.S. stocks slid on Wednesday, continuing a brutal month, as weak forecasts from chipmakers fanned concerns over the impact of tariffs and China’s slowdown on corporate profit, even though Boeing hiked its outlook.
For investors trying to call the end of the bull run for stocks, the headline performance of the world’s equity markets this year may not be telling the whole story.
Tesla Inc’s high-end Model S sedan lost its “recommended” rating and the electric carmaker slid overall by six spots to almost the bottom in Consumer Reports magazine’s annual reliability survey.
Mick Mulvaney, the top cop for U.S. consumer finance, on Wednesday fined a payday lender $200,000 for wrongly hounding borrowers but the penalty fell short of the $3 million his predecessor was seeking, said three sources familiar with the move.
Stock markets around the world edged lower on Wednesday while U.S. treasuries prices rose as investors favored safer investments amid a range of uncertainties, while the U.S. dollar surged and oil prices steadied after the previous day’s session.
Saudi Crown Prince Mohammed bin Salman said on Wednesday the kingdom will continue with reforms and spending on infrastructure, predicting the economy will grow by 2.5 percent this year.
United Parcel Service Inc’s reported a 20 percent rise in quarterly profit on Wednesday, but shares dropped 3 percent after it said the U.S. trade war with China contributed to disappointing international results.
AT&T Inc’s quarterly profit for the latest quarter rose less than expected, held back by its declining satellite TV business, sending the company’s shares down more than 6 percent.
Boeing shares jumped on Wednesday after the world’s largest planemaker reported stronger-than-expected quarterly profits and cash flow, helped by soaring demand from airlines and solid defense sales and services, and raised its 2018 sales and profit estimates.
Talks between BlackRock and Intesa Sanpaolo over an asset management tie-up have slowed due to political uncertainty, but the deal is not yet off, two sources familiar with the matter said on Wednesday.
Two U.S. senators said Alphabet Inc’s disclosure that private profile data of at least 500,000 users of Google+ may have been exposed to hundreds of external developers raises “serious questions” about whether the company violated a 2011 consent decree with the Federal Trade Commission.
Sales of new U.S. single-family homes fell to a near two-year low in September and data for the prior three months was revised lower, the latest indications that rising mortgage rates and higher prices were undercutting the housing market.
A German court on Wednesday ordered Porsche Automobil Holding SE to pay shareholders 47.2 million euros ($53.8 million) in compensation for violating disclosure rules over an emissions scandal at its main investment Volkswagen .
The Dow Jones Industrial Average rose on Wednesday after Boeing raised its profit forecast, easing worries of slowing corporate profits, but a dim outlook from other China-reliant companies, including chipmakers, pressured the S&P 500 and Nasdaq.
Steel imports into Europe have risen sharply as a result of U.S. tariffs, particularly from Turkey, threatening European steelmakers as demand growth in the continent slows, European steel association Eurofer said on Wednesday.
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