Here is what you need to know.
The US 10-year hits a 7-month high. The benchmark yield is up 3 basis points at 2.45%, its highest since March.
UK GDP beats. The UK’s economy grew at a 0.4% clip in the third quarter, according to preliminary data released by the Office for National Statistics on Wednesday. That was ahead of the 0.3% growth that economists were expecting.
A Chinese investor has reportedly built up a massive copper position. A private coal mining industry investor in China’s Shanxi province has reportedly built up a $US2.8 billion long position in copper contracts set to expire in April, May, and June next year, Reuters says, citing an unnamed source.
Bitcoin forks again. Tuesday’s fork created bitcoin gold, and caused bitcoin to slide by as much as 5%. It’s little changed on Wednesday, trading near $US5,625 a coin.
Chipotle missed big on earnings. The fast-casual burrito chain earned an adjusted $US1.33 a share, missing the Wall Street consensus of $US1.63 by a wide margin. Shares plunges by as much as 10% in after-hours trading on Tuesday.
AMD is expecting a big drop in revenue. “For the fourth quarter of 2017, AMD expects revenue to decrease approximately 15 per cent sequentially,” the company said in a press release accompanying its earnings.
AT&T lost a record amount of pay-TV subscribers. The company said it lost 385,000 pay-TV subscribers during the third quarter of 2017 because of increased competition, stricter credit standards and “hurricane disruptions.”
The Nikkei’s 16-day winning streak is over. Japan’s Nikkei (-0.45%) snapped its 16-day winning streak, during which it gained about 7%. In Europe, France’s CAC (+0.24%) is out front. The S&P 500 is set to open little changed near 2,567.
Earnings reporting is heavy. Boeing, Coca-Cola and Northrop Grumman are among the names reporting ahead of the opening bell.
US economic data flows. Durable goods orders will be released at 8:30 a.m. ET before the FHFA House Price Index and new home sales cross the wires at 9 a.m. ET and 10 a.m. ET respectively.
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