Wall Street grows cautious but still optimistic: Reuters poll
Fears of a prolonged U.S.-China trade war and a potentially overzealous Federal Reserve have left Wall Street strategists less optimistic about stock market gains next year, but they still expect a decent increase, a Reuters poll found.
Car market collapse outruns GM moves to keep up
General Motors Co’s monumental announcement on Monday that it will close three car assembly plants in North America and slash its workforce will only partially close the gap between capacity and demand for the automaker’s sedans, according to a Reuters…
U.S. third-quarter GDP growth unrevised at 3.5 percent
The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration’s 3 percent target this year.
Detroit Three narrowing car production in North America
General Motors Co and fellow Detroit automakers Ford Motor Co and Fiat Chrysler Automobiles NV continue to winnow production of cars in North America as demand for traditional sedans wanes. GM announced on Monday it will halt production at three North …
Bitcoin up 10 percent, on course for its biggest daily rise since April
Bitcoin rallied 10 percent on Wednesday to more than $4,100, putting it on course for its biggest daily rise since mid-April as it pulled itself out of a recent slump.
Tiffany sales miss as Chinese tourists spend less than anticipated
Tiffany & Co’s quarterly sales missed estimates as a slowing Chinese economy prompted Chinese tourists to spend less at the jeweler’s stores in the United States and Hong Kong, a shortfall that sent the company’s shares down as much 13 percent.
Seeds of Renault-Nissan crisis sown in Macron’s ‘raid’
The arrest of Renault-Nissan boss Carlos Ghosn has triggered new attempts by the Japanese carmaker to shake off the control of its French parent – adding to the problems piling up on President Emmanuel Macron’s desk in the Elysee Palace.
Two U.S. pipelines rack up violations, threaten industry growth
Energy Transfer LP and its Sunoco pipeline subsidiary have racked up more than 800 state and federal permit violations while racing to build two of the nation’s largest natural gas pipelines, according to a Reuters analysis of government data and regu…
Futures higher on hopes of trade breakthrough; Powell speech in focus
U.S. stock index futures climbed on Wednesday on expectations of a breakthrough in U.S.-China trade talks at the upcoming G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes.
Tiffany misses sales estimates on weak spending by Chinese tourists
Tiffany & Co missed estimates for quarterly same-store sales on Wednesday, blaming lower-than-expected spending by mainland Chinese tourists at its U.S. and Hong Kong stores.
