Protesters burned a cube effigy with a face of President Rodrigo Duterte during a protest outside the presidential palace in metro Manila, Philippines.Reuters/Romeo Ranoco
Here is what you need to know. Sign up here to get “10 Things” delivered directly to your inbox.
North Korea responds to Trump’s UN speech. Moments after North Korean leader Kim Jong Un called President Donald Trump “mentally deranged,” Ri Yong Ho, the minister of foreign affairs, said his country may consider testing a hydrogen bomb in the Pacific Ocean.
Hong Kong loses its AAA rating. A day after downgrading China, S&P downgraded Hong Kong one notch to AA+, citing the close ties between the two places, Reuters says.
A UBS survey found 15% of eurozone companies planned to move everyone out of the UK. A UBS survey of 1,200 major corporations across the eurozone found that 15% planned to move everyone out of the UK following Brexit, and another 28% said they would remove “a large amount” of capacity.
Goldman Sachs doesn’t see a bear market for US stocks. Goldman’s Bear Market Risk Indicator sits at 67%, a level that has acted as a lead indicator for past bear markets, but the bank says, “Without monetary policy tightening much, concerns about a looming recession — and therefore risks of a ‘cyclical’ bear market — are lower.”
JPMorgan retains the crown as king of Wall Street. JPMorgan ranked first in investment banking and FICC (fixed income, currencies, and commodities) and tied for first in equities with Morgan Stanley, according to the data-analytics company Coalition.
MongoDB files to go public. The database startup, which was recently valued at $1.6 billion, will become the seventh “unicorn” to go public in 2017.
Hewlett Packard Enterprise is reportedly laying off 5,000 employees. The job cuts will affect about 10% of Hewlett Packard Enterprise’s workforce and are part of a wider effort to slash costs, Bloomberg reports.
Alice Walton becomes the world’s richest woman. The Walmart heiress, worth an estimated $38.4 billion, reclaimed the title as world’s richest woman following the death of L’Oreal heiress Liliane Bettencourt.
Stock markets around the world trade mixed. Hong Kong’s Hang Seng (-0.82%) lagged in Asia, and Germany’s DAX (+0.27%) leads in Europe. The S&P 500 is set to open little changed near 2,501.
US economic data is light. Markit US Composite PMI will be released at 9:45 a.m. ET. The US 10-year yield is down 2 basis points at 2.25%.
Leave a Reply
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
