STREAMING NOW: Watch Now

IMF warning; SoftBank and WeWork; Stocks drop

1. IMF warning: The International Monetary Fund has warned that a further escalation of tra...

Posted: Oct 10, 2018 11:21 AM
Updated: Oct 10, 2018 11:21 AM

1. IMF warning: The International Monetary Fund has warned that a further escalation of trade tensions could trigger another global financial crisis.

The fund said that risks to global financial stability are rising and it urged policymakers to step up efforts to complete financial reforms.

Alphabet Inc

Banking, finance and investments

Business and industry sectors

Business, economy and trade

Companies

Company activities and management

Company earnings

Economic indicators

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

Food and beverage industry

Food production industry

General Electric Co

General Mills Incorporated

General Motors

Google Inc

Sales and selling

Sales figures

Securities trading

Stock indexes

Stock markets

Government organizations - Intl

International Monetary Fund

SoftBank Group Corp

WeWork

Continents and regions

North America

The Americas

United States

In its financial stability report, the IMF also cautioned about the risks stemming from the combination of growing levels of debt in emerging markets and rising interest rates in the United States.

"Clouds gather on the horizon," it said. "Support for multilateralism has been waning, a dangerous undercurrent that may undermine confidence in policymakers' ability to respond to future crises."

2. Big tech deal brewing? The Wall Street Journal has reported that Japan's SoftBank (SFTBF) is in talks to acquire a majority stake in WeWork.

The money involved is huge. The potential investment, which would likely come from SoftBank's Vision Fund, could reportedly reach $20 billion. The deal would value the office space provider at up to $40 billion.

SoftBank committed $4.4 billion to WeWork last year, but investors appear to be nervous about a deeper relationship. Shares in SoftBank dropped 5.4% in Tokyo on Wednesday.

WeWork operates in more than 20 countries and could soon become the largest office tenant in Manhattan. But analysts have questioned whether the startup's valuation is justified as losses mount.

The Wall Street Journal reported that discussions between the companies remain fluid. Both declined to comment to CNN.

3. Global market overview: US stock futures were pointing lower.

European markets dropped at the open. Stocks in Asia struggled to find direction.

The Dow Jones industrial average closed 0.2% lower on Tuesday, while the S&P 500 shed 0.1%. The Nasdaq ended the session flat.

4. Earnings and economics: Fastenal (FAST) will release earnings before the open.

The US Bureau of Labor Statistics will release its producer price index for September at 8:30 a.m. ET.

The UK economy expanded by 0.7% in the three months to August, according to the Office for National Statistics.

5. Coming this week:
Thursday — Delta (DAL) earnings; Walgreens Boots Alliance (WBA); Deadline for Sky shareholders to accept Comcast offer; Monthly OPEC report
Friday — Citigroup (C), JPMorgan Chase (JPM), Wells Fargo earnings (WFC); US consumer sentiment for October

Huntsville
Broken Clouds
71° wxIcon
Hi: 88° Lo: 69°
Feels Like: 71°
Florence
Clear
73° wxIcon
Hi: 90° Lo: 72°
Feels Like: 73°
Fayetteville
Clear
72° wxIcon
Hi: 88° Lo: 70°
Feels Like: 72°
Decatur
Broken Clouds
71° wxIcon
Hi: 88° Lo: 69°
Feels Like: 71°
Scottsboro
Clear
72° wxIcon
Hi: 87° Lo: 70°
Feels Like: 72°
WAAY Radar
WAAY WAAY-TV Cam
WAAY Temperatures

Alabama Coronavirus Cases

Confirmed Cases: 41362

Reported Deaths: 983
CountyConfirmedDeaths
Jefferson5221152
Montgomery4127103
Mobile4080134
Tuscaloosa228842
Marshall171110
Madison14307
Lee138437
Shelby128423
Morgan11025
Walker93924
Elmore92514
Franklin89514
Dallas8809
Baldwin8649
Etowah73913
DeKalb7195
Butler63328
Chambers62927
Autauga60712
Tallapoosa59169
Russell5520
Unassigned50323
Houston4964
Limestone4950
Lauderdale4906
Lowndes47221
Cullman4524
Pike4295
Colbert3956
St. Clair3822
Coffee3772
Bullock36910
Covington3587
Calhoun3545
Escambia3506
Barbour3492
Hale31121
Talladega3097
Marengo30211
Wilcox2918
Dale2880
Sumter28512
Clarke2746
Jackson2732
Winston2583
Chilton2462
Blount2351
Monroe2352
Pickens2356
Marion22413
Conecuh2097
Randolph2069
Choctaw19512
Macon1949
Bibb1901
Greene1868
Perry1771
Henry1343
Crenshaw1253
Washington1097
Lawrence1080
Cherokee977
Geneva800
Lamar771
Fayette701
Clay652
Coosa581
Cleburne361
Out of AL00

Tennessee Coronavirus Cases

Confirmed Cases: 51316

Reported Deaths: 645
CountyConfirmedDeaths
Shelby11793200
Davidson11089122
Rutherford298735
Hamilton278135
Sumner161052
Trousdale14985
Williamson131315
Out of TN11857
Knox11717
Wilson94117
Putnam8837
Robertson83411
Sevier8043
Bradley7073
Lake6920
Tipton6455
Unassigned6351
Bledsoe6201
Bedford5705
Montgomery5547
Macon4654
Maury3543
Hardeman3434
Hamblen3404
Fayette3172
Madison2992
Loudon2871
Rhea2860
Dyer2511
McMinn23718
Cheatham2301
Blount2273
Dickson2090
Cumberland1814
Washington1650
Lawrence1636
Lauderdale1453
Anderson1422
Monroe1406
Jefferson1360
Gibson1291
Smith1201
Coffee1190
Sullivan1172
Obion1122
Hardin1087
Greene1032
Cocke940
Haywood922
Marshall911
Franklin873
Wayne860
Hickman800
Warren760
Marion734
McNairy730
White703
DeKalb670
Lincoln640
Weakley641
Grundy621
Overton621
Roane620
Giles601
Carter591
Hawkins572
Unicoi550
Campbell481
Carroll471
Henderson460
Claiborne450
Polk450
Henry440
Johnson440
Grainger420
Sequatchie420
Crockett383
Cannon370
Chester340
Perry340
Meigs320
Humphreys281
Jackson270
Morgan271
Stewart230
Decatur220
Fentress220
Union180
Clay170
Scott170
Houston150
Benton131
Moore120
Van Buren80
Hancock60
Lewis60
Pickett60

 

 

Community Events