Fresh trade war fears weighed on global stocks on Wednesday before a U.S. Federal Reserve meeting, with the dollar holding firm and Britain’s pound subdued on growing fears of a no-deal Brexit.
Shares of Apple Inc rose 4.2% on Wednesday, after the company calmed Wall Street nerves with an improvement in sales in China and as several brokerages predicted a boost from its services business and the launch of new iPhones in the second half of 2019.
Oil prices rose for a fifth day on Wednesday, supported by a drop in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time since the financial crisis more than a decade ago.
Spotify Technology SA reported better-than-expected second-quarter revenue on Wednesday, but added fewer paid subscribers than estimated, sending its shares down 2.2% in trading before the bell.
General Electric Co swung back to a financial loss in the second quarter, as the cost of restructuring its ailing power business and the grounding of a Boeing Co jetliner model drained more cash than expected from GE’s otherwise profitable industrial units.
U.S. stock index futures edged higher on Wednesday, as trade worries eased after Apple reported upbeat earnings and forecast, while investors awaited an almost certain cut in interest rates by the Federal Reserve.
General Motors Co’s investors will see on Thursday how the Detroit carmaker is weathering declining sales and mounting price pressures in its largest markets when it reports second-quarter earnings.
U.S. and Chinese negotiators wrapped up a brief round of trade talks on Wednesday that Beijing described as “constructive”, including discussion of further purchases of American farm goods and an agreement to reconvene in September.
Baker Hughes, General Electric Co’s oilfield services arm, reported a better-than-expected quarterly profit on Wednesday, helped by higher activity in LNG markets and rise in international demand for oilfield services.
General Electric Co swung back to a financial loss in the second quarter, as the restructuring of its ailing power business drained more cash than expected from its otherwise profitable industrial unit.
Carlyle Group LP emulated its peers on Wednesday with plans to convert from a publicly traded partnership into a corporation, and went one step further by announcing it will become the first U.S. private equity firm to hold shareholder votes.
Spotify Technology SA on Wednesday posted bigger-than-expected quarterly losses as it added fewer paid subscribers than estimated.
Chinese and U.S. trade negotiators discussed the purchase of U.S. agricultural goods during trade talks this week and will meet again in the United States in September, the commerce ministry said on Wednesday.
Plant-based burger maker Impossible Foods on Wednesday announced a partnership with major meat supplier OSI Group [OSIGP.UL], a longtime producer of patties for fast-food chains, as it ramps up to meet demand from consumers and restaurants including Burger King.
Casino operator Crown Resorts on Wednesday dismissed media reports that it flouted visa rules to bring Chinese gamblers to Australia after the government ordered an inquiry into immigration officials’ dealings with the company.
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