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 12:21 PM
Updated: Oct 10, 2018 12:21 PM

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

West Lafayette
Partly Cloudy
64° wxIcon
Hi: 77° Lo: 51°
Feels Like: 64°
Kokomo
Partly Cloudy
59° wxIcon
Hi: 72° Lo: 50°
Feels Like: 59°
Rensselaer
Cloudy
59° wxIcon
Hi: 72° Lo: 46°
Feels Like: 59°
Fowler
Partly Cloudy
64° wxIcon
Hi: 73° Lo: 49°
Feels Like: 64°
Williamsport
Partly Cloudy
60° wxIcon
Hi: 74° Lo: 50°
Feels Like: 60°
Crawfordsville
Partly Cloudy
57° wxIcon
Hi: 73° Lo: 50°
Feels Like: 57°
Frankfort
Partly Cloudy
57° wxIcon
Hi: 72° Lo: 48°
Feels Like: 57°
Delphi
Partly Cloudy
60° wxIcon
Hi: 75° Lo: 49°
Feels Like: 60°
Monticello
Mostly Cloudy
60° wxIcon
Hi: 76° Lo: 51°
Feels Like: 60°
Logansport
Partly Cloudy
55° wxIcon
Hi: 73° Lo: 48°
Feels Like: 55°
Warm up with more humidity conditions returning.....Storms returning too...
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 751526

Reported Deaths: 13799
CountyCasesDeaths
Marion1033281788
Lake557151010
Allen41710692
St. Joseph36998565
Hamilton36604417
Elkhart29413461
Tippecanoe22914227
Vanderburgh22559400
Porter19359326
Johnson18477389
Hendricks17689317
Clark13228195
Madison13158344
Vigo12625253
LaPorte12420221
Monroe12211176
Delaware10968198
Howard10337225
Kosciusko9630121
Hancock8577147
Bartholomew8172157
Warrick7860156
Floyd7812180
Grant7242179
Wayne7162201
Boone6972103
Morgan6765141
Dubois6221118
Marshall6211116
Cass6017110
Henry5902110
Dearborn589878
Noble581688
Jackson509176
Shelby501796
Lawrence4745122
Gibson445094
Clinton442755
Harrison441775
DeKalb439885
Montgomery438490
Whitley406643
Huntington403181
Steuben400259
Miami395269
Jasper388654
Knox376391
Putnam373260
Wabash362383
Ripley347270
Adams345555
Jefferson336186
White332253
Daviess3033100
Wells295381
Decatur289892
Greene286885
Fayette284864
Posey273835
LaGrange273172
Scott270156
Clay267148
Washington246136
Randolph244783
Jennings235349
Spencer234631
Starke228058
Fountain221048
Sullivan214643
Owen212158
Fulton203042
Jay200932
Carroll193720
Orange188255
Perry187237
Rush175926
Vermillion174844
Franklin170335
Tipton166446
Parke149616
Pike138134
Blackford136232
Pulaski120747
Newton114336
Brown104243
Crawford102516
Benton101914
Martin91715
Warren84015
Switzerland8148
Union72810
Ohio57911
Unassigned0420

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events