- Reuters / Ricardo Rojas
Here is what you need to know.
Bitcoin falls below $10,000 as cryptocurrency ‘bloodbath’ enters a 2nd day. The sell-off is a continuation of one that started Tuesday amid concerns about regulation in the Asian market.
Bank of America beats earnings expectations. The company reported adjusted earnings of $0.47 a share, beating consensus Wall Street estimates of $0.45 a share.
Goldman Sachs beats on earnings despite trading woes. The firm reported adjusted earnings of $5.68 a share, beating Wall Street analyst expectations of $4.90 a share.
We crunched the numbers to find the one stock set to get the biggest boost from the new tax law. We’ve sorted through all of the guidance provided by Wall Street experts and developed a methodology that helped us to arrive at the one company that should emerge as the king of tax.
Credit Suisse identifies things that could drive the stock market crazy in 2018. The firm sees sharply higher bond yields, a possible trade war, and geopolitical risks pushing equity volatility higher this year.
The chief UK strategist at JPMorgan’s $1.7 trillion investment arm reveals her biggest fear for the British economy in 2018. Karen Ward says Brexit uncertainty is stopping businesses from investing, which in turn is stifling growth.
Kaspersky Lab said it found an Android spying app. The malware, said to come from Italian vendors, relies on five distinct exploits to gain root access and can go as far as stealing WhatsApp messages.
Stock markets around the world were mixed. China’s Shanghai Composite (+0.24%) climbed, while Germany’s DAX (-0.1%) slid. The S&P 500 is set to open up 0.32% near 2,791.50.
Earnings reports continue to be released. Bank of America and Goldman Sachs have already reported, while Schwab and US Bancorp are also set to report before the market open. Alcoa and Kinder Morgan are due to announce quarterly earnings after the market close.
US economic data is light. Industrial production will be released at 9:15 a.m. ET, along with capacity utilization. Data on the NAHB Housing Market Index will come out at 10 a.m. The US 10-year yield is down 1 basis point at 2.54%.