in

5 things to know before the stock market opens Wednesday – CNBC, CNBC

5 things to know before the stock market opens Wednesday – CNBC, CNBC


1. Dow set to open modestly higher

Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell on October 3, 2019 in New York City.

Drew Angerer | Getty Images

U.S. stock futureswere pointing to a modestly higher Wednesday openon Wall Street. Dow stocksCaterpillarandBoeinginitially dropped in premarket trading on disappointing earnings but later recovered. TheS&P 500,despite Tuesday’s slide, was just 1% away from its July record. TheDow Jones Industrial Average,which also fell Tuesday, was still only 2% below its own record close. The Dow and S&P 500 alternated between gains and losses for eight straight sessions, although they all were higher than where they were before that streak began.

2. Caterpillar and Boeing both report worse-than-expected quarterly earnings

Caterpillar on Wednesdaylowered its full-year outlookand posted worse-than-expected earnings and revenue in the third quarter. The heavy equipment maker’s sales in the Asia-Pacific region declined on lower demand in China due to the trade war between Beijing and Washington. In earnings also out Wednesday morning, Boeing reported third-quarter profit thatfell short of estimatesas it grapples with a crisis with its grounded 737 Max jets. Quarterly revenue at the aircraft maker, however, came in better than analysts had expected.

3. Facebook co-founder and CEO Mark Zuckerberg is set to testify about libra

Facebook CEO Mark Zuckerberg walks to meetings for technology regulations and social media issues on September 19, 2019, in Capitol Hill, Washington, DC.

BRENDAN SMIALOWSKI | AFP | Getty Images

Facebook‘s Mark Zuckerbergis set to testifyWednesday before the House Financial Services Committee about the company’s cryptocurrency plans.Zuckerbergis bound to face questions that span well beyond Facebook’s involvement in libra.The Facebook co-founder and CEO,according to his prepared remarks, is expected to tell the committee that libra “will extend America’s financial leadership as well as our democratic values ​​and oversight around the world.”

4 . SoftBank to take control of embattled office sharing startup WeWork

A WeWork logo is seen at a WeWork office in San Francisco, September 30, 2019.

Kate Munsch | Reuters

SoftBank has struck a dealto take control of US office sharing startup WeWork. The Japanese conglomerate will provide $ 5 billion in new financing and up to $ 3 billion in a tender offer for existing shareholders. SoftBank will also speed up an existing $ 1.5 billion financing commitment. The deal caps off several tumultuous months for WeWork, which pulled its IPO filing and saw its CEO exit amid scrutiny from investors.

5. Giuliani associates set to be arraigned as Trump impeachment inquiry moves forward

Two associates of Rudy Giulianiare set to be arraignedWednesday. Lev Parnas and Igor Fruman are accused of making illegal campaign donations while lobbying to oust the U.S. ambassador to Ukraine.Giuliani,who at the time was trying to get Ukrainian officials to investigate Joe Biden’s son, has said he knew nothing about the donations.Top Ukraine diplomat Bill Taylor testifiedTuesday behind closed doors before House lawmakers conducting the Trump impeachment inquiry. Taylor said he was told a military aid package to Ukraine had been withheld by PresidentDonald Trumppending an agreement from Ukraine to launch investigations into Trump’s political rivals.

  

       

CNBC’s before the bell news roundup

  

Get this delivered to your inbox, and more info about about our products and services.
By signing up for newsletters, you are agreeing to ourTerms of UseandPrivacy Policy.

     

– The Associated Press contributed to this report.

Brave Browser
Read More
Payeer

What do you think?

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Telangana: Civil Judge's Death From Dengue Busts Govt Claim of Disease Being 'Under Control' – The Wire, Thewire.in

Telangana: Civil Judge's Death From Dengue Busts Govt Claim of Disease Being 'Under Control' – The Wire, Thewire.in

Boeing is still assuming 737 Max gets regulatory OK by year end, but production costs rise – CNBC, CNBC

Boeing is still assuming 737 Max gets regulatory OK by year end, but production costs rise – CNBC, CNBC