Here is what you need to know.
Here comes the Fed. The market is pricing in just a 17% chance the US central bank raises interest rates at Thursday’s meeting, according to Bloomberg. There’s a 79.1% a rate hike happens in December, the data shows.
Trump’s tariffs are having an impact. Data from UBS shows the $US34 billion worth of Chinese goods affected by the initial tariffs have seen imports to the US fall by 30%.
Here’s how the 9-year bull market ends – and how you can see it coming. “From my perspective, in order for us to have a bear market that sticks, there has to be something other than a regime shift where you reprice things,” Chris Hyzy, the chief investment officer for Bank of America’s Global Wealth and Investment Management division, told Business Insider by phone. “That’s what a correction is: a repricing. There would need to be an economic hard landing.”
Goldman Sachs announces its new partners. The Wall Street bank named 69 people to partner in its twice-a-year exercise.
Tesla has a new board chair. The electric-car maker has named Robyn Denholm, CFO at the Australian telecom operator Telstra, as its new board chair, Reuters says.
Tilray soars on a big day for weed. The cannabis producer Tilray gained more than 30% Wednesday after Michigan became the 10th US state to legalise marijuana and as Jeff Sessions, a staunch opponent of legal weed, resigned as the US’s attorney general.
Square’s earnings guidance comes up short. The mobile-payment provider reported earnings and revenue that topped expectations, but its fourth-quarter earnings-per-share guidance of $US0.12 to $US0.13 was below the $US0.15 that Wall Street analysts surveyed by Bloomberg were expecting.
Stock markets around the world trade mixed. Japan’s Nikkei (+1.82%) led the gains in Asia, and Germany’s DAX (-0.17%) trails in Europe. The S&P 500 is set to open down 0.36% near 2,804.
Earnings reports keep coming. Activision Blizzard and Disney report after markets close.
US economic data trickles out. Initial claims will be released at 8:30 a.m. ET. The US 10-year yield is down 2 basis points at 3.22%.