Here is what you need to know.
- Trump threatens to veto the spending bill if it doesn’t include funding for a wall along the US’s southern border.“The president said he would not sign this bill, so we’re going to go back and work on adding border security to this while also keeping the government open,” House Speaker Paul Ryan told reporters on Thursday.
- The global stock rout shows continues. Global markets were hit hard overnight with Japan’s Nikkei (-1.1%) leading the losses in Asia and the Euro STOXX 50 (-0.9%) under pressure in Europe. The S&P 500 was set to open up 0.35% near 2,476.
- ‘The stock market bears are coming out of hibernation.’A new report from RBC Capital Markets shows big-money investors have grown more downbeat on the stock market than they were in September.
- Hedge funds have a new worry for 2019. At least three Wall Street hedge funds and asset managers are starting to weigh the possibility of the impeachment of President Donald Trump as a stock-market catalyst in 2019, people familiar with their thinking told Business Insider.
- Goldman Sachs is expecting a big spike in stock-market volatility. The firm says volatility will spike 50% in 2019, and lays out the perfect strategy to capitalise on the chaos.
- Nike gets a big boost from digital. The sneaker giant beat on both the top and bottom lines, and said that its Nike brand saw sales jumped 14% on a neutral-currency basis, driven by digital.
- Snap slides below $US5 for the first time. Shares of the social-media company hit an all-time low of $US4.96 apiece Thursday, and are now down more than 70% from their March 2017 initial-public-offering price of $US17.
- 2018 was a big year for IPOs. A total of 191 companies went public in the US in 2018, up 19.4% versus a year ago. Here’s a list of how the biggest ones performed.
- Earnings trickle out. CarMax reports ahead of the opening bell.
- US economic data is heavy. The third estimate of third-quarter gross domestic product will accompany durable goods orders at 8:30 a.m. ET before personal income and spending, personal consumption expenditures, and University of Michigan consumer confidence cross the wires at 10 a.m. ET. The US 10-year yield was down 2 basis points at 2.79%.
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