Anything For You All: 10 things you need to know before the opening bell

Rabu, 06 November 2019

10 things you need to know before the opening bell


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10 Things Before the Opening Bell

Here is what you need to know.

1.SoftBank reported an eye-watering $6.5 billion loss in the wake of WeWork's catastrophic failed IPO. SoftBank reported its first quarterly operating loss in 14 years, posting a 704 billion yen ($6.46 billion) decline in the July-September period.

2. Germany posted a surprise rebound in manufacturing, a sign the 'deep recession in German industry may be bottoming out'. Data from Germany's federal statistics office showed that new orders rose 1.3% in September, reversing a decline since June.

3. The McDonald's CEO fired for his relationship with a subordinate has now been ousted as director of an organization promoting women in the workplace. Catalyst told Business Insider that firing Steve Easterbrook was "the right thing to do" because its industry partners must lead by example.

4. The Wall Street Journal reported that Saudi Arabia is pushing OPEC to cut oil supply in order to boost prices for Aramco's IPO. Aramco is due to go public next month.

5. 'I shut my eyes,' SoftBank CEO Masayoshi Son says after losing more than $4.7 billion on WeWork. SoftBank on Wednesday said it slashed WeWork's valuation to just $7.8 billion, a fraction of its $47 billion valuation in January.

6. Xerox is considering a takeover offer for PC maker HP in what could be a $27 billion deal. That's according to the Wall Street Journal, which said Xerox's board discussed the possibility.

7. Glovo, a food delivery app which is thrashing Uber Eats in parts of Europe, just acquired a Polish competitor for $39 million. Glovo's acquisition comes as the $35 billion food delivery market heats up.

8. Stocks are calm on Wednesday. US futures underlying the S&P and the Nasdaq are flat. European stocks opened higher, with the DAX (+0.2%) up as is the Euro Stoxx 50 (+0.3%). Asian stocks are mixed with the Nikkei (+0.2%) pushing up but the Shanghai Composite (-0.4%) fell and the Hang Seng closed flat.

9. Earnings season is quieting down. Dr Pepper Snapple Group and the New York Times release earnings.

10. Today is a quieter day for data. Nonfarm productivity is the highlight.