Thursday, February 8, 2018
What to watch today
On Wednesday, stocks had another volatile day with the Dow trading up as many as 300 points before closing just slightly in the red while tech stocks lagged the market. Meanwhile, Treasury yields resumed their march higher with the 10-year Treasury yield getting back to 2.85%.
The economic calendar will be mostly empty, with the weekly report on initial jobless claims serving as the lone highlight.
BlackRock’s Larry Fink wants to become the next Warren Buffett: BlackRock Inc. (BLK) is looking to raise more than $10 billion that it would use to buy and hold stakes in companies, replicating the approach of Warren Buffett’s Berkshire Hathaway Inc. (BRK) It is the first-ever attempt by the world’s largest asset manager to make such direct investments, according to people familiar with the matter. [The Wall Street Journal]
Tesla sticks by Model 3 target, warns spending could rise in 2018: Tesla Inc. (TSLA) said on Wednesday it was sticking with Chief Executive Elon Musk’s revised production targets for its Model 3 electric sedan, but posted its worst-ever quarterly loss, and warned that spending would increase slightly this year. [Reuters]
Swiss Re in talks to sell stake to SoftBank: Swiss Re said it is in preliminary talks to sell a minority stake to SoftBank Group, a deal that reportedly could be worth $10 billion or more, in what would be the Japanese firm’s biggest financial services deal to date. The potential sale of up to one third of the Swiss reinsurer at a premium as reported by the Wall Street Journal would also mark the broadening of already sky-high ambitions that have already seen it raise $93 billion to form its Vision Fund for technology investments. [Reuters]
Amazon to deliver Whole Foods groceries to Prime members: Amazon.com Inc. (AMZN) said on Thursday it would start delivering Whole Foods groceries via its fast-shipping Prime Now service in select U.S. cities, and plans to expand it across the country this year. [Reuters]
For more of the latest news, go to Yahoo Finance
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