Here is what you need to know.
- The Dow soars into the record books. The Dow Jones Industrial Average soared 1,086 points on Wednesday, posting its biggest point gain on record.
- But the gains don’t look like they will hold. The Dow is set to fall more than 300 points at the open, giving back nearly a third of Wednesday’s advance.
- The US and China are set for face-to-face trade talks.The two sides are scheduled to hold talks next month, Reuters says, citing China’s commerce ministry.
- A fund manager who beat 99% of his peers this year shares his top picks for 2019. Chris Smith, who oversees more than $US500 million as the founding portfolio manager of the Artisan Thematic Fund, says his theme for 2019 is data monetisation and names two companies that support it.
- 2 major US markets are out of whack. There’s a disconnect between the S&P 500’s performance and the 10-year yield, according to Torsten Sløk, Deutsche Bank’s chief international economist.
- The clock is about to strike midnight on a $US1 million bitcoin bet. The crypto hedge fund BlockTower Capital needs bitcoin to reach $US50,000 a coin by Friday’s expiration, or its $US1 million bet on bitcoin will be worthless.
- Amazon reports a ‘record-breaking’ holiday season.Amazon soared 9.44% Wednesday after announcing a “record-breaking” holiday season that saw more items ordered worldwide than ever before.
- JCPenney breaks the buck. Shares of the retailer touched $US0.99 on Wednesday, falling below $US1 for the first time.
- Millennials liked these 9 stocks in 2018. Business Insider sifted through the data from the no-fee trading app Robinhood, and found the nine stocks that millennials liked most this year.
- US economic data flows. Initial claims will be released at 8:30 a.m. ET before FHFA home prices and consumer confidence cross the wires at 9:45 a.m. ET and 10 a.m. ET respectively.
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