Here is what you need to know.
Social-media execs testify before Congress.Facebook’s chief operating officer, Sheryl Sandburg, is set to testify before the Senate Intelligence Committee on Wednesday about her company’s response to Russian interference during the 2016 election. Twitter CEO Jack Dorsey will also appear.
Amazon joins the $US1 trillion club. Amazon on Tuesday became the second US company to reach a $US1 trillion valuation. Apple hit the plateau less than one month ago.
Nike sinks after making Colin Kaepernick the new face of its ‘Just Do It’ ads. Nike shares fell 3.16% on Tuesday after the sneaker giant revealed Colin Kaepernick, the former San Francisco 49ers quarterback who started the polarising NFL protests during the national anthem, was named the face of the company’s 30th-anniversary “Just Do It” ad campaign.
Snap slides to an all-time low. Shares touched a low of $US10.43 apiece on Tuesday, their lowest since the company went public in March 2017.
42 Tesla employees reveal the frenzy of working at Tesla under the ‘cult’ of Elon Musk. Business Insider’s Julie Bort, Linette Lopez, and Mark Matousek spoke with 42 past and present Tesla employees to learn what it’s like working for one of the world’s most ambitious and controversial companies.
Theranos is about to shut down for good. The embattled blood-testing startup plans to spend its next few months repaying creditors with its remaining resources before shutting down for good, The Wall Street Journal says, citing a shareholder letter.
The currency of the world’s 7th-largest economy hits a record low. The Indonesian rupiah has slid 10% this year to a record low of 71.75 per dollar on Wednesday, and the ANZ strategists Khoon Goh and Rini Sen think it could get even worse from here.
Stock markets around the world are under pressure. Hong Kong’s Hang Seng (-2.61%) was hit hard overnight, and Germany’s DAX (-0.96%) trails in Europe. The S&P 500 is set to open down 0.32% near 2,887.
Earnings reporting is light. Cushman & Wakefield reports after markets close.
US economic data trickles out. The trade balance will be released at 8:30 a.m. ET. The US 10-year yield is down 1 basis point at 2.89%.
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