- Reuters/Kim Hong-Ji
Here is what you need to know.
Japanese inflation hits a multiyear high. Consumer prices in Japan rose 0.7% year-over-year in August, their fastest since March 2015, as higher energy prices provided a lift, according to data released by Japan’s statistics bureau.
London home prices fall for the first time in 8 years. Prices slid 0.6% year-over-year in September, making for the first decline since the third quarter of 2009, Nationwide data showed.
South Korea bans ICOs. South Korea’s Financial Services Commission banned the cryptocurrency-based fundraising method on Friday, saying it had “serious concern about the fact that the current market funds are being pushed into a nonproductive speculative direction.”
AIG may be freed from its systemic-risk designation. The Financial Stability Oversight Council held an unusual last-minute meeting Friday to discuss removing the tag of a nonbank financial company, which two people familiar with the discussions said was AIG, according to Bloomberg’s Jesse Hamilton.
Fitch downgrades Deutsche Bank. The rating agency lowered Deutsche Bank’s credit rating one notch to BBB+, saying, “The downgrades reflect continued pressure on Deutsche Bank’s earnings, combined with prolonged implementation of its strategy,” Financial News reports.
Whole Foods is investigating a credit-card security breach. The grocery chain announced Thursday that it “recently received information regarding unauthorized access of payment card information” at venues such as taprooms and table-service restaurants located within stores. Those shopping for groceries were not affected.
Elon Musk wants to fly people around the world in under an hour. “If we’re building this thing to go to the moon and Mars, then why not go to other places on earth as well,” Musk said of BFR, the spaceship he hopes to use to get people to Mars within five years.
Roku soars in its first day of trading. Shares priced at $14, opened for trading at $15.78, and closed up by nearly 70% at $23.50.
Stock markets around the world trade mixed. China’s Shanghai Composite (-0.17%) slipped overnight, and Germany’s DAX (+0.35%) is out front in Europe. The S&P 500 is set to open little changed near 2,509.
US economic data picks up. Personal income and spending and PCE core prices will all be released at 8:30 a.m. ET before Chicago PMI and University of Michigan consumer confidence are announced at 9:45 a.m. ET and 10 a.m. ET. The US 10-year yield is unchanged at 2.31%.