Morning Brief: Trump boosts gov't shutdown odds over border wall funding
Wednesday, December 12, 2018
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WHAT TO WATCH TODAY
The U.S. Bureau of Labor Statistics will be releasing the Consumer Price Index (CPI) data for November. Market watchers will be paying close attention to the CPI data as it is often looked to as a key inflation gauge. Economists polled by Bloomberg are expecting an unchanged reading for the month of November after a +0.3% jump in October.
Meanwhile, tech giant Cisco (CSCO) will be holding its annual shareholder meeting in San Jose, California, at 10 a.m. PST.
TOP NEWS
Trump boosts gov't shutdown odds over wall funding: President Donald Trump staged a confrontation Tuesday with the two top congressional Democrats before television cameras in the Oval Office as the dispute over funding for his border wall turned publicly acrimonious. The drama may raise the chances of a partial government shutdown when funding for some agencies runs out after Dec. 21. [Bloomberg]
More on Trump
-Trump says China 'back in the market' for U.S. soybeans
-Trump says he could intervene in U.S. case against Huawei CFO
Dell wins vote to return to public markets: Dell Technologies Inc. won a shareholder vote to return to public markets. Under terms of the deal, Dell will buy out shareholders of the stock that tracks Dell’s stake in software maker VMware Inc., known by its ticker DVMT, for $23.9 billion worth of cash and shares. The Round Rock, Texas-based computer giant said it will list on the New York Stock Exchange as soon as Dec. 28 under the ticker DELL. [Bloomberg]
Theresa May faces leadership challenge: Theres May vowed to fight ‘with everything I’ve got’ after it was confirmed Tory MPs will vote on whether she should remain Conservative leader. Speaking on the steps of Downing Street this morning, the Prime Minister confirmed she will not resign after Tory rebels reached the threshold of 48 letters needed to trigger a vote. [Yahoo Finance UK]
SoftBank plans sale of stake in Nvidia next year: SoftBank Group is planning to offload its stake in Nvidia Corp. early next year as shares in the graphics chipmaker continue to slide. The Japanese investor could make about $3 billion in profit from the trade [Bloomberg]
Activist fund Elliott set to shake up drinks giant Pernod: Elliott Management has taken a stake in Pernod Ricard worth more than 930 million euros ($1.05 billion) and will work with the family-backed French drinks company to try to improve its performance, the activist hedge fund said on Wednesday. [Reuters]
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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.
