Here is what you need to know.
Here comes the jobs report. The US economy is expected to have added 191,000 nonfarm jobs with the unemployment rate slipping to 3.8%, according to economists surveyed by Bloomberg.
It looks as if Trump has found the next big target in his trade war: Japan. President Donald Trump is reportedly set to involve Japan in his trade disputes, saying he will make the world’s third-largest economy “pay,” according to The Wall Street Journal.
America’s small businesses warn of widespread layoffs and shutdowns if Trump doesn’t back down from a trade war with China. Some small businesses testified before a panel of US trade officials at a public hearing in Washington last month that they would have to immediately lay off employees to absorb the cost of tariffs on imports if Trump enacted new measures against China.
A so-called blue tsunami during the election could be the most devastating for stocks. Such a scenario – in which the Democrats win both the House and the Senate – could produce “extreme gridlock,” slower regulatory relief, a freeze on Supreme Court nominations, and impeachment proceedings, Mike Ryan, the chief investment officer at UBS, said in a note on Tuesday.
Hong Kong now has more megamillionaires than New York City. Hong Kong now has 10,000 residents who fall into the “ultra-high net worth” category – worth at least $US30 million – compared with roughly 9,000 ultra-high net-worth people in New York City, according to a new report from the data firm Wealth-X.
Dimon says Trump told him anyone who gets a degree in US should also get a green card. “Anyone who gets a degree here should get a green card with the degree,” JPMorgan CEO Jamie Dimon told Business Insider. “Even President Trump in a meeting said to me and a whole bunch of other people, ‘I want to do that.’ We’ll let’s just go ahead and do it.”
Snap tumbles below $US10 for the first time. Shares touched a record low of $US9.62 apiece on Thursday and have fallen 25% since August 7, when the social-media company reported an unexpected drop in users during the second quarter.
The SEC has a stern warning about soaring marijuana stocks. “If you are thinking about investing in a marijuana-related company, you should beware of the risks of investment fraud and market manipulation,” the US Securities and Exchange Commission said in a press release Thursday. “Fraudsters may try to use media coverage about the legalization of marijuana to promote an investment scam.”
Broadcom’s revenue spikes. The chipmaker reported revenue rose 13.6% year-over-year in the third quarter to $US5.06 billion, topping the $US4.46 billion that analysts were expecting, Reuters says.
Stock markets around the world are lower. Japan’s Nikkei (-0.8%) led the losses in Asia, and Britain’s FTSE (-0.32%) trails in Europe. The S&P 500 is set to open down 0.2% near 2,872.
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