Post by huh on Oct 3, 2016 6:50:57 GMT -5
10 things you need to know before the opening bell
The UK plans to trigger Article 50 next year. Prime Minister Theresa May says the UK will trigger Article 50 before "the end of March next year," formally beginning its two-year process to leave the European Union. The British pound is down 0.7% at 1.2880.
British manufacturing is going crazy in spite of Brexit. Data released by IHS Markit showed that British manufacturing hit its strongest level since June 2014, climbing two points to 55.4, well ahead of the 52.1 that economists had forecast.
Crude oil is back above $50. Brent crude oil, the international benchmark, is higher by 1.0% at $50.71 a barrel and is on track for its first close above $50 since August 19. West Texas Intermediate crude oil is up 1.0% at $48.72 a barrel.
Talks between Deutsche Bank and the DOJ are on going. Deutsche Bank CEO John Cryan will be in Washington, DC, for this week's annual International Monetary Fund meeting, and Frankfurter Allgemeine Zeitung reports that other bank executives are expected to join him to try to hammer out a settlement with the US Department of Justice.
Janus and Henderson are merging. The $6 billion all-stock deal will give Henderson and Janus shareholders approximately 57% and 43% ownership, respectively, while forming an investment firm with $320 billion in assets.
Illinois could sever relations with Wells Fargo. Michael Frerichs, the Illinois treasurer, is holding a news conference on Monday in which he plans to announce "plans to suspend billions of dollars in investment activity with Wells Fargo," according to an advisory from his office sent out late Friday
Yahoo's hack might be a lot bigger than expected. A former Yahoo insider told Business Insider the hack could affect up to 3 billion users. The company previously said at least 500 million users were affected.
The EU is threatening to fine Google over antitrust violations. "EU antitrust regulators plan to order Google to stop paying financial incentives to smartphone makers to pre-install Google Search exclusively on their devices and warned the company of a large fine," Reuters reported after seeing an EU document.
Stock markets around the world are higher. Hong Kong's Hang Seng (+1.2%) led the gains in Asia, and Britain's FTSE (+1.2%) paces the advance in Europe.
US economic data is heavy. Markit manufacturing PMI will be released at 9:45 a.m. ET, while construction spending and ISM manufacturing are both due out at 10 a.m. ET. Auto sales cross the wires throughout the day. The US 10-year yield is up 1 basis point at 1.60%.
www.businessinsider.com/opening-bell-october-3-2016-2016-10
The UK plans to trigger Article 50 next year. Prime Minister Theresa May says the UK will trigger Article 50 before "the end of March next year," formally beginning its two-year process to leave the European Union. The British pound is down 0.7% at 1.2880.
British manufacturing is going crazy in spite of Brexit. Data released by IHS Markit showed that British manufacturing hit its strongest level since June 2014, climbing two points to 55.4, well ahead of the 52.1 that economists had forecast.
Crude oil is back above $50. Brent crude oil, the international benchmark, is higher by 1.0% at $50.71 a barrel and is on track for its first close above $50 since August 19. West Texas Intermediate crude oil is up 1.0% at $48.72 a barrel.
Talks between Deutsche Bank and the DOJ are on going. Deutsche Bank CEO John Cryan will be in Washington, DC, for this week's annual International Monetary Fund meeting, and Frankfurter Allgemeine Zeitung reports that other bank executives are expected to join him to try to hammer out a settlement with the US Department of Justice.
Janus and Henderson are merging. The $6 billion all-stock deal will give Henderson and Janus shareholders approximately 57% and 43% ownership, respectively, while forming an investment firm with $320 billion in assets.
Illinois could sever relations with Wells Fargo. Michael Frerichs, the Illinois treasurer, is holding a news conference on Monday in which he plans to announce "plans to suspend billions of dollars in investment activity with Wells Fargo," according to an advisory from his office sent out late Friday
Yahoo's hack might be a lot bigger than expected. A former Yahoo insider told Business Insider the hack could affect up to 3 billion users. The company previously said at least 500 million users were affected.
The EU is threatening to fine Google over antitrust violations. "EU antitrust regulators plan to order Google to stop paying financial incentives to smartphone makers to pre-install Google Search exclusively on their devices and warned the company of a large fine," Reuters reported after seeing an EU document.
Stock markets around the world are higher. Hong Kong's Hang Seng (+1.2%) led the gains in Asia, and Britain's FTSE (+1.2%) paces the advance in Europe.
US economic data is heavy. Markit manufacturing PMI will be released at 9:45 a.m. ET, while construction spending and ISM manufacturing are both due out at 10 a.m. ET. Auto sales cross the wires throughout the day. The US 10-year yield is up 1 basis point at 1.60%.
www.businessinsider.com/opening-bell-october-3-2016-2016-10
