I Read The News So You Don’t Have To – Market News (Dec. 20, 2018)

by ogordained

UNITED STATES

  • Futures are up slightly after yesterdays selloff but the DOW and S&P500 are still on track for their worst December since the Great Depression
  • The Fed felt the market and investors felt the pain after rates were raised yesterday and predictions for GDPgrowth next year were lowered
  • The Senate passed a bill to keep the government funded until Feb. 8

OTHER

  • The EU announced plans to minimize the disruption that would be caused if Britain leaves the EU without a deal in March
    • They will allow British airlines to continue flying to EU airports and let trucks cross the border without a permit on a temporary basis
  • A Japanese court refused a request to keep Carlos Ghosn, the former boss of Nissan, in prison
  • AB InBev, brewers of Budweiser, is partnering with cannabis company Tilray in a $100 million deal
    • The project will be run by InBev’s Canadian subsidiary Labatt Breweries
  • Altria, the makers of Marlboro, will purchase 35% of JUUL e-cigs for $13 billion — just weeks ago Altria purchased a stake in cannabis company Cronos
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CHINA

  • Apple will try to avoid a ban on older iPhones in China with a software update that addresses patent issues
  • A third Canadian has been detained in China since the arrest of Huawei’s CFO
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