- Reuters/Edgar Su
Here is what you need to know.
The IMF warns on China’s debt. “Credit growth has outpaced GDP growth, leading to a large credit overhang,” the International Monetary Fund wrote. “The credit-to-GDP ratio is now about 25% above the long-term trend, very high by international standards and consistent with a high probability of financial distress.”
Euro-area GDP holds. The euro-area economy grew at a 0.6% clip in the third quarter, according to a revised reading from Eurostat.
Bitcoin rockets past $15,000. The red-hot cryptocurrency cleared $15,000 a coin Thursday morning, just 36 hours after topping $12,000 for the first time.
Banks could take a big hit from new reforms. Global investment banks will see their revenue in Europe chopped by $4.4 billion from the MiFID II financial reforms that start to go live in January, and traders will bear the brunt of it, according to Coalition, an industry analytics and consulting firm.
Bob Iger could stay at Disney past 2019. Disney’s CEO could stay on past the end of his contract in July 2019 if his company buys 21st Century Fox’s TV assets, The Wall Street Journal says.
A Volkswagen executive has been sentenced to 7 years for emissions fraud. The Volkswagen executive Oliver Schmidt received a seven-year prison sentence and a $400,000 fine for his role in overseeing the company’s emissions scandal, Reuters says.
Lululemon raises its guidance. The athletic-apparel retailer beat on both the top and bottom lines and raised its full-year 2017 adjusted earnings guidance to a range of $2.45 to $2.48.
Stock markets around the world are higher. Japan’s Nikkei (+1.45%) paced the overnight gains, and Germany’s DAX (+0.38%) leads in Europe. The S&P 500 is set to open little changed near 2,631.
Earnings reports keep coming. Dell Technologies and Dollar General report ahead of the opening bell.
US economic data trickles out. Initial claims will be released at 8:30 a.m. ET, and consumer credit crosses the wires at 3 p.m. ET. The US 10-year yield is little changed at 2.34%.