Here is what you need to know.
The US dollar hits its lowest level in 3 years. The US dollar index touched an overnight low of 88.25, its weakest since December 2014. It has since recouped its losses and trades fractionally higher near 88.70.
Something unusual is happening to America’s trucking industry, and it’s bad news for anyone who depends on it. Truck drivers are still in short supply even though wages, on average, are rising, which could lead to higher transport costs.
Multimillionaire Cyril Ramaphosa is South Africa’s new president. Ramaphosa, who was sworn in to office Thursday, owns McDonald’s South Africa and has a net worth of about $450 million.
Bitcoin slips below $10,000. The cryptocurrency trades down 3.15%, or about $316, near $9,760 a coin.
Warren Buffett just made life miserable for one group of investors. Warren Buffett’s Berkshire Hathaway disclosed a stake in Teva Pharmaceutical, sending shares up 7.6% on Wednesday and short sellers running for the exits.
Netflix’s $300 million deal with Ryan Murphy is ‘expensive as opposed to explosive.’ The Wedbush Securities analyst Michael Pachter, one of the biggest Netflix bears on Wall Street, told Business Insider that the company’s $300 million deal with the producer Ryan Murphy was expensive and that he’s concerned about Netflix’s cash-burning tendencies.
Shake Shack beats but gives disappointing guidance. The burger chain earned an adjusted $0.10 a share on revenue of $96.1 million but gave disappointing full-year 2018 revenue guidance of $444 million to $448 million.
Stock markets around the world are higher. Hong Kong’s Hang Seng (+1.97%) rallied into the Chinese New Year, and France’s CAC (+0.86%) is out front in Europe. The S&P 500 is set to open up 0.35% near 2,741.
Earnings reporting remains heavy. Coca-Cola, Deere, and Kraft Heinz all report ahead of the opening bell.
US economic data flows. Import and export prices, housing starts, and building permits will all be released at 8:30 a.m. ET before University of Michigan consumer confidence crosses the wires at 10 a.m. ET. The US 10-year yield is down 2 basis points at 2.89%.