Here is what you need to know.
Dow 20,000 remains elusive. The Dow Jones Industrial Average dipped 0.16% on Wednesday to finish at 19,941.96. It’s set to open Thursday’s session near 19,935.
Wednesday was the most boring day for stocks since 1992. Wednesday’s intraday range of 1.9 basis points was the tightest since Christmas Eve 1992, according to Bespoke Investment Group.
The world’s oldest bank is moving closer to a bailout. Monte Paschi failed to secure a key investor for its new share offering, and Reuters reports that caused other investors to balk at the deal. Aside from failing, the only realistic option at this point is a state bailout by the Italian government.
Bitcoin is at its best level in 3 years. The cryptocurrency trades higher by more than 5% on Thursday at $874.04, its best level since December 2013.
Carl Icahn will have a role in the Trump Administration. Icahn will serve as a special adviser to Trump on regulation. “His help on the strangling regulations that our country is faced with will be invaluable,” Trump said in a release.
Air Force One will cost less than previously expected. After meeting with Trump, Boeing CEO Dennis Muilenburg said the president’s plane will cost less than previous estimate of near $4 billion. “We work on Air Force One because it’s important to our country and we’re going to make sure that he gets the best capability and that it’s done affordably,” Muilenburg said.
Hershey has a new CEO. Michele Buck has been named president and CEO, effective March 1, 2017. Currently, Buck is the company’s executive vice president and COO.
Stock markets around the world are lower. Hong Kong’s Hang Seng (-0.8%) lagged in Asia and Spain’s IBEX (-0.4%) trails in Europe.
Earnings reporting remains light. Rite Aid and ConAgra Brands will release their quarterly results ahead of the opening bell while Cintas reports after markets close.
US economic data picks up. GDP, durable goods, and initial jobless claims will all be released at 8:30 a.m. ET before the FHFA House Price Index crosses the wires at 9 a.m. ET and personal income and spending are announced at 10 a.m. ET. The US 10-year yield is up 2 bps at 2.55%.
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