Here is what you need to know.
The Bank of England meets. The central bank is expected to keep policy on hold at Wednesday’s meeting with economists on the lookout for any changes to the BOE’s inflation forecast. The decision will cross the wires at 7 a.m. ET.
The Reserve Bank of New Zealand holds. New Zealand’s central bank held its key interest rate at a record low 1.75% and reduced its inflation outlook for 2018. The New Zealand dollar is down 1.3% at .6847 against the dollar.
Snap craters after its first earnings report. Shares of the social media company tumbled by as much as 25% following its first quarterly report as a publicly traded company. Snap lost $US0.20 a share on revenue of $US149.6 million. Both numbers missed Wall Street estimates.
Tesla is accepting orders for its new solar roof. The roof will be available in four different shingles and cost $US21.85 per square foot.
A short seller accuses Apple supplier AAC of “dubious accounting.” AAC’s stock tumbled as much as 14% in Hong Kong after short seller Gotham City accused the company of practicing “dubious accounting” methods, Reuters says. “The Board vigorously denies the allegations in the report and considers the information contained therein to be inaccurate and misleading,” AAC Chairman Koh Boon Hwee said in a filing.
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Aetna ditches Obamacare. “We will not offer on- or off-exchange individual plans in Delaware or Nebraska for 2018, and at this time have completely exited the exchanges,” Aetna spokesperson TJ Crawford said in a statement on Wednesday.
Barclay’s CEO apologizes. Speaking at his bank’s annual meeting in London, Barclay’s CEO Jes Staley said he was sorry for trying to unmask a whistleblower, DealBook reports.
Stock markets around the world are mixed. Hong Kong’s Hang Seng (+0.4%) led in Asia and Germany’s DAX (+0.1%) clings to gains in Europe. The S&P 500 is set to open down 0.2% near 2,395.
Earnings reporting slows down. Kohl’s and Macy’s report ahead of the opening bell while Nordstrom releases its quarterly results after markets close.
US economic data is light. PPI and initial jobless claims will both be released at 8:30 a.m. ET. The US 10-year yield is down 2 basis points at 2.39%.