- Reuters/Laura Hasani
Here is what you need to know.
The Fed raises rates, signals more hikes are coming. The Federal Reserve on Wednesday announced it would raise its key interest rate 25 basis points to a range between 1.50% and 1.75%. It also steepened its outlook for hikes in 2019 and 2020.
Trump is ready to announce more tariffs on China. President Donald Trump will announce tariffs on Chinese imports in a move aimed at curbing theft of US technology on Thursday, Reuters reports, citing a White House official.
Congress has a plan to avoid a government shutdown. The 2,232-page bill would allocate nearly $1.3 trillion of federal funding over the next two years with an emphasis on the military, disease prevention, and job-training programs.
Britain is getting a cryptocurrency task force. “A new task force will help the UK to manage the risks around Crypto assets, as well as harnessing the potential benefits of the underlying technology,” UK Chancellor Philip Hammond is expected to announce on Thursday.
First-time homebuyers are facing a ‘perfect storm’ – and there’s no relief in sight. Starter homes have become smaller, pricier, and of less quality than they’ve been at any other time over the six years that Trulia has been keeping track.
Mark Zuckerberg breaks his silence on the Cambridge Analytica data scandal. “I’m really sorry that this happened,” Zuckerberg said of the data scandal that allowed Cambridge Analytica to inappropriately use 50 million Facebook user profiles to target ads in support of its clients, including Donald Trump’s successful 2016 election campaign.
Elon Musk’s massive pay package gets approved. Tesla shareholders voted in favor of a pay package that will give Musk stock options over 12 tranches that are worth as much as $2.6 billion.
Stock markets around the world are lower. Hong Kong’s Hang Seng (-1.09%) paced the decline in Asia, and Germany’s DAX (-1.03%) trails in Europe. The S&P 500 is set to open down 0.56% near 2,697.
Earnings reports trickle out. Nike reports after the closing bell.
US economic flows. Initial claims will be released at 8:30 a.m. ET before Markit PMIs are announced at 9:45 a.m. ET. The US 10-year yield is down 4 basis points at 2.84%.