Here is what you need to know.
- Progress is being made on trade with China. The world’s two largest economies are making progress on all areas of talks, but work still needs to be done to end the months-long trade war, Reuters reports, citing US officials.
- Parliament is in deadlock on Brexit. Members of Parliament were unable to find a mjority consensus during a series of “indicative votes” on an alternative to Prime Minister Theresa May’s Brexit plans. The UK is set to leave the EU in just two weeks.
- A prominent Silicon Valley VC was terminated after admitting a link to the college-admissions scandal. Venture capitalist Chris Schape is out at Lightspeed Venture Partners was “terminated” after ther firm decided it would have to spend too much time and attention dealing with the matter.
- Lyft boosts the range for its IPO pricing. The ride-hailing app, which is scheduled to debut on the Nasdaq on Friday morning, raised the price range for its initial public offering from a range between $US62 to $US68 a share to between $US70 and $US72.
- Lululemon soars on earnings. The athletic-apparel maker beat on earnings, revenue, and guidance, sending shares up more than 10% after Wednesday’s closing bell.
- Wow Airlines goes bust. The 7-year-old Icelandic budget carrier ceased operations on Thursday, stranding passengers, after struggling with debt.
- Seth Rogen is getting into legal weed. The comedians Seth Rogen and Evan Goldberg are teaming up with the cannabis producer Canopy Growth to bring “Houseplant,” a new brand of recreational marijuana to the Canadian market.
- Stock markets around the world were mixed. Japan’s Nikkei (-1.6%) led the losses in Asia and Britain’s FTSE (+0.77%) was out front in Europe. The S&P 500 was set to open little changed near 2,808.
- Earnings reporting is light. Accenture reports ahead of the opening bell and RH releases its quarterly results after markets close.
- US econonmic data keeps coming. GDP – third estimate and initial claims will both be released at 8:30 a.m. ET before pending home sales cross the wires at 10 a.m. ET. The US 10-year yield was up 1 basis point at 2.38%.
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