What you need to know today
Dow tumbles
Wall Street closed lower Thursday after a key U.S. inflation gauge came in hotter-than-expected and sent Treasury yields higher. The 30-stock Dow lost more than 100 points, or 0.35%, snapping a three-day winning streak. The tech-heavy Nasdaq Composite fell 0.3%, while the S&P 500 dipped 0.29%.
Why Japan's wage talks matter
Japan's "shunto" wage negotiations hit fever pitch this week as several corporate giants revealed salary increases. The outcome of these widely anticipated discussions is critical and could influence the Bank of Japan's decision on when to exit its negative interest rate policy.
Mnuchin on buying Tiktok
Former Treasury Secretary Steven Mnuchin is putting together an investor group to buy TikTok. "I think the legislation should pass and I think it should be sold," Mnuchin said. His comments come after the House passed a bill that could force TikTok's Chinese owner, ByteDance, to sell its stake of the video app or face a ban in the U.S.
Wall Street closed lower Thursday after a key U.S. inflation gauge came in hotter-than-expected and sent Treasury yields higher. The 30-stock Dow lost more than 100 points, or 0.35%, snapping a three-day winning streak. The tech-heavy Nasdaq Composite fell 0.3%, while the S&P 500 dipped 0.29%.
Why Japan's wage talks matter
Japan's "shunto" wage negotiations hit fever pitch this week as several corporate giants revealed salary increases. The outcome of these widely anticipated discussions is critical and could influence the Bank of Japan's decision on when to exit its negative interest rate policy.
Mnuchin on buying Tiktok
Former Treasury Secretary Steven Mnuchin is putting together an investor group to buy TikTok. "I think the legislation should pass and I think it should be sold," Mnuchin said. His comments come after the House passed a bill that could force TikTok's Chinese owner, ByteDance, to sell its stake of the video app or face a ban in the U.S.
HSBC bullish on China
HSBC's chief financial officer said the bank is "very positive" about the mid- to long-term outlook for the Chinese economy despite current problems. Growth in China has slowed as the country continues to struggle with a real estate crisis, while exports remain sluggish. $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Dow Jones Industrial Average(.DJI.US$
HSBC's chief financial officer said the bank is "very positive" about the mid- to long-term outlook for the Chinese economy despite current problems. Growth in China has slowed as the country continues to struggle with a real estate crisis, while exports remain sluggish. $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Dow Jones Industrial Average(.DJI.US$
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