Here is what you need to know.
Dow 20,000 is in the crosshairs. The Dow Jones Industrial Average booked a fractional gain on Tuesday, finishing at 19,945.04. The index is set to open higher by 0.1% near 19,971.
Bitcoin is up again. The cryptocurrency is up about 3% to $958, and trading at its best level since November 2013. Bitcoin has gained $135, or 16.4%, over the past week.
Toshiba crashes after warning of a multi-billion dollar writedown. Shares of the chips-to-construction group tumbled 20% on Wednesday after the company warned it might need to take a larger than expected writedown on its acquisition of Chicago Bridge & Iron.
Delta cancels an order from Boeing.Delta Air Lines has canceled an order for 18 Boeing widebody 787 Dreamliner jets, with a list price of $4 billion, that was inherited from its takeover of Northwest Airlines, the Seattle Times says.
BP is buying gas stations in Australia. The London-based oil giant has agreed to pay $1.3 billion for Woolworths’ 527 retail fuel outlets in Australia, according to Bloomberg.
Qualcomm got hit with an $854 million fine by South Korea. The Korea Fair Trade Commission, South Korea’s antitrust regulator, has ruled that Qualcomm hindered compeition as a result of its business practices of patent licensing and smartphone modem chip sales, Reuters reports.
Panasonic is investing in a Tesla production facility. Panasonic will invest $256 million in a Tesla production facility that makes photovoltaic (PV) cells and modules, Reuters reports.
CEO pay is rising, but “economic profit” isn’t. A report released by the CFA Institute showed CEO pay has climbed 82% in the last 13 years, but the average company generated less than a 1% return for investors.
Stock markets around the world are up. Hong Kong’s Hang Seng (+0.8%) paced the gains overnight and Britain’s FTSE (+0.4%) leads in Europe.
US economic data trickles out. Pending home sales will be released at 10 a.m. ET. The US 10-year yield is unchanged at 2.56%.
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