Market reports

  • Investing dramas are often buried in the dullest-sounding documents. On Dec. 10, Highland Funds II, a series of mutual funds run by Highland Capital Management Fund Advisors L.P. of Dallas, filed a form with the Securities and Exchange Commission stating that it couldn't complete its annual report on time because it "needs to finalize its accounting analysis for the fair value measurement of a fair valued security." On Nov. 8, investors in one of those funds, Highland Global...
  • T-Mobile US Inc and Sprint Corp believe their foreign owners' offer to stop using Huawei Technologies equipment will help with the United States clearing their $26 billion merger deal, sources said, underscoring the lengths to which Washington has gone to shut out the Chinese company.
  • The U.S. Trade Representative's office on Friday officially changed the scheduled date of a tariff rate increase on $200 billion worth of Chinese goods to 12:01 a.m. EST on March 2, 2019 as the United States and China pursue talks on trade and intellectual property.
  • After claiming that any chip cycle will be a short one, Micron CEO will now have to prove it in the coming months. Micron Technology Inc. (MU.NaE) will likely be playing a cleanup game when it reports earnings Tuesday, with hopes of a bounceback next year that proves any down cycle is a short one. Micron is scheduled to report fiscal first-quarter earnings after the bell on Tuesday.
  • Investors are eager for a touch of Christmas cheer from the U.S. Federal Reserve next week, hoping for signs the central bank may ease up on interest rate hikes next year and spark a Santa Claus rally. U.S. stocks are having their worst December performance in 16 years with the S&P 500 notching a 5 percent drop so far this month.
  • The U.S. Trade Representative's office on Friday officially changed the scheduled date of a tariff rate increase on $200 billion worth of Chinese goods to 12:01 a.m. EST on March 2, 2019 as the United States and China pursue talks on trade and intellectual property.
  • CBS Corp (CBS.NaE) on Friday named the Time's Up anti-sexual harassment group and 17 other organizations that will share a $20 million donation stemming from the exit of its chief executive Les Moonves following allegations of sexual misconduct.
  • Even for Adobe, the bill eventually comes due. In late September, Adobe announced its largest acquisition ever with the purchase of marketing-software maker Marketo for $4.75 billion. That followed the company's $1.7 billion purchase of Magento, a maker of e-commerce software, just four months prior.
  • Treasury yields headed higher this week as positive developments in U.S.-China trade tensions sapped appetite for haven assets like government paper. That upward momentum dissipated somewhat on Friday, however, after softer economic data in China perked up concerns around the global economy's health. The 10- year Treasury note yield fell 2 basis points to 2.891%, trimming its weeklong rise to 4.1 basis points, its largest such move since Nov. 2. The 2- year note yield fell 2.7...
  • Gold, copper outlook upbeat, but natural gas set to reverse course next year. This year has been disappointing for commodities, but some of 2018' s laggards, like gold, copper, corn, and soybeans, may be 2019' s leaders. In one case, a leader from 2018 could become a laggard in the new year.
  • Total value of all cryptocurrencies at its lowest level since July 31, 2017. Bitcoin slid to yet another 15- month low Friday, putting the world's largest digital currency on track for consecutive losing weeks. After a quiet morning, cryptocurrency prices fell early afternoon and bitcoin traded to $3,160.10-- its lowest level since Sept. 15, 2017-- and 5% from the psychologically important $3,000 mark.
  • By Chris Matthews and Barbara Kollmeyer, MarketWatch. Johnson& Johnson falls over 10% to pace Dow decliners. Stocks fell sharply Friday, ending the week on a bleak note and sending the Dow Jones Industrial Average into correction territory after a batch of weaker-than-expected economic data out of China and Europe sparked fresh worries about the state of the world's second-biggest economy and prospects for global growth.
  • - Private equity firm Thoma Bravo LLC is in early talks to buy security software company McAfee from TPG Capital and Intel Corp for more than $4.2 billion, CNBC reported on Friday, citing people familiar with the matter. Talks may still fall apart and a deal announcement isn't expected soon, according to CNBC.
  • China, eurozone data stoke fears about global slowdown. Currency markets attracted flows into perceived havens on Friday, as risk appetite weakened following softer-than- expected economic data from the eurozone and China. The U.S. dollar was up against most of its rivals, with the exception of the Japanese yen, more evidence that haven interest was driving action as the yen can serve as a safety play in its own right.
  • - PG&E Corp (PCG.NaE) said on Thursday it had requested California's top utilities regulator for a 6.4 percent rate hike in 2020 to fund its community wildfire safety program, insurance liabilities, and core gas and electric operations. The proposal does not request funding for potential lawsuits or claims resulting from the 2017 and 2018 Northern California wildfires, the company said in a filing.
  • By Myra P. Saefong, MarketWatch, Rachel Koning Beals. Natural-gas futures suffer a nearly 15% weekly drop as demand prospects weaken. Oil prices fell on Friday, settling lower for the week, as a stronger dollar cut global demand for U.S.-priced commodities and a slide for the stock market sullied the risk-taking mood.
  • By Myra P. Saefong and William Watts, MarketWatch. Downbeat China data curbs risk appetite; gold off 0.9% for the week. A round of weaker-than-expected Chinese economic data spooked global investors Friday, but failed to provide a lift for gold thanks to a stronger U.S. dollar.
  • Emerging-markets roundup: What's in a data point? Once again a data point out of China spooked investors on Friday, sending financial markets across the world across various asset classes lower out of fear that the growth engine of the global economy could be running out of steam. Economic activity, at least as measured by industrial output and retail sales, grew at a slower pace than previously.
  • A Colombian tribunal fined a consortium led by Brazilian construction firm Odebrecht [ODBES.UL] $250 million and banned it from government contracts for 10 years, saying the group used corrupt tactics to win infrastructure contracts. Odebrecht has been at the center of a massive Latin American graft scandal, acknowledging in 2016 that it bribed officials in a dozen countries.
  • Sterling losses stem slide for FTSE 100. London markets ended lower on Friday, as slow Chinese business activity in November rebooted refreshed worries over global economic growth. Meanwhile, Brexit uncertainty continues to hang in the air amid a lack of signals U.K.
  • Mining stocks drop as weak China data rattles investors. European markets fell Friday, as fresh data showed a slowdown in China and underperforming manufacturing figures for the eurozone, reigniting investors nerves over slowing global economic growth. Banks and mining stocks led the heavyweight decliners.
  • T-Mobile US Inc and Sprint Corp expect their merger to be approved by a U.S. national security panel as early as next week, after their respective parent companies said they would consider curbing their use of equipment from China's Huawei Technologies, people familiar with the matter told Reuters.
  • U.S. stocks are down only slightly for 2018, but that masks a volatile year for investors. Trade-related tensions between the United States and China, weakness in the tech sector, concerns about slowing global growth and jitters about the Federal Reserve marching toward higher interest rates have kept investors on their toes.
  • Nissan Motor Co Ltd (NSANF.NaE) investigators are examining former Chairman Carlos Ghosn's use of an internal 'CEO Reserve' fund and the role of subsidiaries in the Netherlands and other countries as part of a probe into alleged financial misconduct, two people with knowledge of the inquiry told Reuters.
  • Canada and the United States agreed on Friday that politics should be kept out of the process to extradite senior Huawei Technologies Co [HWT.UL] executive Meng Wanzhou, who is being held on a U.S. extradition warrant, Canadian Foreign Minister Chrystia Freeland said.
  • Finman can see another bull rally or two, but the long-term outlook is dire. Erik Finman, who became a teenage bitcoin millionaire during the crazy run to $20,000, has warned bitcoin maximalists-- believers in the world's best-known cryptocurrency-- that the long-term outlook is bleak. Finman hit the headlines as a teenager in early 2018 when his rags to riches bitcoin tale made him an overnight superstar.
  • The best and worst market calls of 2018-- and what they mean for 2019. The stock market has been predictably unpredictable in 2018.. While those words pretty much apply to every year, of course, this one-- with a steady diet of explosive moves both north and south for the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite Index-- has been particularly difficult to handicap.
  • Investors have every reason to expect that this holiday season will be even better for retailers than the last one. Low unemployment, rising wages and strong consumer confidence provide prime conditions for spending. The calendar is ideal, too, with Thanksgiving coming early and Christmas coming late.
  • Volkswagen's talks with Ford on the two companies cooperating are progressing, though a few details still need to be worked out, the German carmaker said on Friday. "The talks with Ford are on the right track.
  • It was around the peak of bitcoin's value a year ago at just below $20,000 that this obnoxious question entered the Urban Dictionary: How long would it take to amass enough cryptowealth to buy a Lamborghini? Now, those bitcoin owners still holding on for dear life after an 82% decline are putting on a brave face, but there is no more denying that we have witnessed the popping of a classic bubble. Some believers in blockchain's vast potential agree and rue the gold-rush mentality.
  • Energy trading' God' thinks China can be counted on as a buyer. Shale producers are much more responsive to oil market swings than traditional drillers, says the man nicknamed "God" for his historically spot-on oil calls. That may be good for their business model, but can torment market watchers trying to nail down forecasts.
  • As bitcoin plummeted, stubborn bitcoin bulls held their ground. Monday, Dec. 17, will mark one year since the price of bitcoin-- the best-known cryptocurrency-- hit an all-time high just shy of $20,000. For bulls who bought the hype, it's been a long-- and painful-- ride down. At the time, the digital currency was up more than 1,000% for 2017, both the CME Group and Cboe had just launched bitcoin futures contracts, and everyone seemed to be making money as talk about the previously obscure...
  • Huawei [HWT.UL] faces fresh challenges in Europe after Germany's Deutsche Telekom announced it would review its vendor strategy and Orange said it would not hire the Chinese firm to build its next-generation network in France.
  • - Shares of Johnson & Johnson (JNJ.NaE) fell 10 percent on Friday and were on track to post their biggest percentage drop in more than 16 years, after Reuters reported that the pharma major knew for decades that cancer-causing asbestos lurked in its Baby Powder.
  • Yellen is also nervous about pressure building to unwind Dodd-Frank banking deregulation. Janet Yellen is worried about the next financial crisis and told a small, intimate audience at an event Wednesday night in Washington, D.C., that her biggest concerns were the potential for reversal of financial safeguards put in place after the crisis and growing corporate debt. "I am worried that we are in a deregulatory mode and I see a lot of pressures building in the system to go further to...
  • - An Irish regulator said on Friday it was investigating Facebook Inc (FB.NaE) following the company's disclosure that a bug may have exposed private photos of up to 6.8 million users, the latest in a series of Facebook (FB.NaE) privacy glitches.
  • - London Stock Exchange Group Plc (LDNXF.NaE) said on Friday Chairman Donald Brydon would be replaced by Donald Robert, chairman of the world's biggest credit data firm Experian Plc (EXPGF.NaE) . Robert has been appointed as a non-executive director and will take over from Brydon after the company's annual general meeting in May, LSE said. [nRSN5749Ka]
  • By Barbara Kollmeyer and Jessica Marmor Shaw, MarketWatch. Follow these Twitter accounts to track where the market is headed in 2019-- and get smarter about your investments and money. We once called Twitter the lifeblood of investing for some finance watchers, and that is likely more true now than ever before... particularly with the Dow Jones Industrial Average and S&P 500 hitting a volatile stretch.
  • Critical information for the U.S. trading day. We've had two measly days of green out of five for the S&P 500, and Friday isn't looking like one for the bulls after the world's second biggest growth engine dropped some downbeat data. China retail sales and industrial production missed expectations, while highlights from elsewhere show France's economy basically ground to a halt.
  • LVMH, owner of the Louis Vuitton and Christian Dior fashion brands, sees the future of luxury in hotels as much as handbags. The Paris-based luxury conglomerate created by France's richest man, Bernard Arnault, is paying $3.2 billion including debt for Belmond, a New-York listed company that owns Hotel Cipriani in Venice and the' 21' Club in New York, and sells $3,000 overnight tickets on the Orient Express. Travel and luxury "experiences" are a priority for LVMH--seemingly a higher...
  • * Core retail sales increase 0.9 percent in November. * October core retail sales rise revised up to 0.7 percent. * Overall retail sales gain 0.2 percent in November. * Industrial production rises 0.6 percent in November. By Lucia Mutikani.
  • * Tariff suspension for three months from Jan. 1, 2019. * Planned tariff halt follows purchase of U.S. soybeans. * China, U.S. set stage to reduce trade tensions. * Tesla cuts prices after China tariff reduction.
  • U.S. consumer spending gathered momentum in November as households bought furniture, electronics and a range of other goods, which could further allay fears of a significant slowdown in the American economy even as the outlook overseas continued to darken.
  • German airline Air Berlin's insolvency administrator is suing Abu Dhabi's Etihad, its former owner, for damages of up 2 billion euros, a Berlin court said on Friday. Etihad Airways' decision to withdraw funding for Air Berlin sent Germany's then No.2 carrier into insolvency. "The claims are for payment of 500 million and the establishment that the defendant is obliged to pay further damages.
  • - Wall Street's three major indexes tumbled on Friday and the Dow confirmed a correction as weak data from China and Europe stoked fears of a global economic slowdown, while Johnson & Johnson shares were the biggest drag after Reuters reported the company knew for decades that its Baby Powder contained asbestos.
  • Merck and Co (MRK.NaE) said on Friday it will buy privately held French company Antelliq Group, which makes digital identification products for livestock, for about 2.1 billion euros to bolster its fast-growing animal health business.
  • Economic data in Asia weighed on stock markets across the region Friday, clipping the previous two days of gains. The Shanghai Composite fell 1.5%, but the smaller-cap Shenzhen index tumbled 2.5%. Major sectors-- including infrastructure, home appliances and liquor-- eased after Thursday's runup.
  • Luxury goods maker LVMH has agreed to buy Belmond , the owner of hotels including Venice's landmark Cipriani, for $3.2 billion including debt to increase its presence in upmarket hospitality.
  • * Deutsche Telekom launches vendor review. * German minister, asked about Huawei, says: No concerns. * Telekom review comes as U.S. unit pursues Sprint (S.NaE) takeover. * Orange won't hire Huawei for French 5G network. By Douglas Busvine and GwA©naA«lle Barzic.
  • Domestic investors have sought nearly double the number of shares offered by SoftBank Group Corp's (SFTBF.NaE) soon-to-list wireless unit, two sources from a lead IPO underwriter said, underscoring strong demand for Japan's third-largest telco.
  • China will temporarily suspend additional 25 percent tariffs on U.S.-made vehicles and auto parts starting Jan. 1, 2019, the finance ministry said on Friday, following a truce in a trade war between the world's two largest economies.