- REUTERS/Darren Ornitz
Good morning! Here’s what you need to know in markets on Friday.
1.Mark Zuckerberg’s personal challenge for 2018 is to fix issues like abuse, hacking from other countries, and other nefarious practices on Facebook. In a post on his Facebook page Thursday, Zuckerberg wrote that “we currently make too many errors enforcing our policies and preventing misuse of our tools.”
2.US stocks finished up on Thursday, as the Dow Jones Industrial Average crossed 25,000 points for the first time in history.The Dow finished up 0.59% at 25,069.40, the S&P 500 closed 0.36% higher at 2,722.79, and the Nasdaq ended the day up 0.18% at 7,077.91.
3.Asian shares are buoyant thanks to the strong US performance. Japan’s Nikkei share index closed up 0.91%. The Hong Kong Hang Seng is up 0.02% at the time of writing (6.35 a.m. GMT/1.35 a.m. ET) and China’s Shanghai Composite is up 0.43%.
4.The US jobs report is coming this afternoon. Non-farm payroll numbers, unemployment figures, and averaging earnings data for December will be published at 1.30 p.m. GMT (8.30 a.m. ET). Economists are expecting 190,000 new jobs to have been added in the month.
5.Investment in UK startups is higher after Brexit than it was before the referendum, bucking industry predictions that funding and activity would slow down. According to research from former Index Ventures partner Gil Dibner, there were more investments into British tech startups after the referendum in June 2016 than previously.
6.New car sales fell for the first time in six years last year with demand for diesel cars plunging by almost a fifth. The BBC reports that there were around 2.5 million cars registered in total, according to industry body the Society of Motor Manufacturers and Traders (SMMT).
7.Former Uber CEO Travis Kalanick is planning to sell 29% of his shares in the car-ride company in a deal valued at about $1.4 billion (£1 billion), reports Bloomberg. Kalanick had long boasted that he had never sold any of his equity in Uber.
8.Tiger Global Management is making a big bet on a California investing startup. Wealthfront, a robo-adviser with more than $9 billion (£6.6 billion) under its management, announced Thursday that Tiger Global, the New York investment firm, would lead a $75 million (£55.2 million) fundraising round.
9.Music streaming service Spotify, which filed confidentially with US regulators for an initial public offering on Wednesday, has 70 million subscribers, it said in a tweet on Thursday. Spotify, which was valued at as much as $19 billion (£14 billion) last year, is targeting a direct listing in the first half of 2018.
10.Music legend Jimmy Iovine, who heads Apple Music, will leave the iPhone maker in August, according to Billboard. Iovine’s departure from Apple is timed to match the full vesting of his shares in the company, sources told Billboard. It’s not certain whether Apple will replace him.