Year: 2018

European shares climbed and Wall Street was set for a stronger open on Monday thanks to a surge in autos stocks and relief that Italy dodged a ratings downgrade.

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Wall Street was set to bounce back on Monday from a steep sell-off last week, helped by gains in auto stocks, signs of a recovery in high-growth companies and relief over an unchanged rating on Italy.

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Hitachi has wrapped up a bitter feud with U.S. activist investor Elliott over Ansaldo STS , agreeing to buy the fund’s stake in the Italian rail signaling group as part of a move to take full control.

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U.S. consumer spending rose for a seventh straight month in September, but income recorded its smallest gain in more than a year amid moderate wage growth, suggesting the current pace of spending was unlikely to be sustained.

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U.S. auto sales likely fell slightly in October from a year earlier, when replacement demand following hurricanes Harvey and Irma boosted business, industry consultants J.D. Power and LMC Automotive said on Monday.

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Oil prices inched lower on Monday as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.

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U.S. stock index futures held on to their gains on Monday, after U.S. consumer spending for September rose in line with expectations and income recorded its smallest gain in more than a year, suggesting a moderation in spending in the future.

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IBM Corp’s $34 billion deal to buy Red Hat Inc drove shares in the small but fast-growing software maker 50 percent higher on Monday, reflecting the huge premium IBM is paying to ward off any potential challenger bids.

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European shares climbed and U.S. stock futures erased losses on Monday thanks to encouraging earnings reports, while the euro fell briefly after sources said German Chancellor Angela Merkel would not seek re-election as head of her CDU party.

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Baillie Gifford & Co, one of the top shareholders of Tesla Inc , has said it would be willing to inject more cash into the electric carmaker, the Times reported http://bit.ly/2PwSpuu on Monday.

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Oil prices fell on Monday, as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.

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A five-year old Chinese smartphone company whose high-end products are little known outside a tech-savvy niche is entering the U.S. market on Monday with the backing of two key local allies: chipmaking giant Qualcomm and mobile operator T-Mobile.

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Concern over China’s slowing economy dented U.S. stock futures and kept world stocks under pressure on Monday although European shares climbed thanks to encouraging earnings reports and relief that Italy dodged a ratings downgrade.

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More than 70 percent of U.S. firms operating in southern China are considering delaying further investment there and moving some or all of their manufacturing to other countries as the trade war bites into profits, a business survey showed on Monday.

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Germany’s ProSiebenSat.1 Media said on Monday it had bought U.S. online dating site eharmony, in the first significant deal since it carved out a new e-commerce joint venture with General Atlantic.

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