Morning Brief: Trump to talk trade with Xi at G20
Friday, November 30, 2018
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What to watch today
The G20 summit in Argentina will continue to garner attention. On Thursday, President Donald Trump abruptly canceled his planned meeting with Russian leader Vladimir Putin. He tweeted saying that due to the Ukraine crisis, he thought it would be best not to meet. The main event of the summit continues to be the working dinner planned for Saturday when Trump and Chinese President Xi Jinping will discuss trade.
The Chicago Purchasing Managers Index (PMI) data for the month of November will be released in the morning. Economists polled by Bloomberg are expecting a reading of 58.5 versus 58.4 for October.
Top news
What to expect from the G20 meeting between Trump and Xi: President Donald Trump’s trip to the G20 meeting in Argentina may be called “Let’s Make a Deal.” He is supposed to meet with Chinese President Xi Jingping Saturday for dinner, and analysts expect the president to discuss the current trade standoff with Xi. [Yahoo Finance]
Mayweather, DJ Khaled charged by SEC for pumping crypto: The U.S. Securities and Exchange Commission is making an example out of boxer Floyd Mayweather and rapper DJ Khaled. The SEC has settled charges against both celebrities for “unlawfully touting” initial coin offerings (ICOs). The main issue: Mayweather and Khaled did not disclose payments they received for promoting the ICOs on their social media accounts. [Yahoo Finance]
SEC to take up Trump’s quarterly earnings reports request: Securities regulators plan to explore changes for public companies’ quarterly earnings reports, following President Trump’s summer request for them to take up the issue. The Securities and Exchange Commission on Thursday said it would vote next week on asking companies and investors for feedback on the “nature and content of quarterly reports and earnings releases.” [The Wall Street Journal]
UK tech tycoon charged over ‘scheme to defraud’ in U.S.: Former Autonomy CEO Michael Lynch and ex-finance executive Stephen Chamberlain have been charged with fraud, related to its 2011 sale to Hewlett-Packard (HPQ), by U.S. authorities. Lynch and Chamberlain have been accused of artificially increasing reported sales numbers in order to meet targets that secured them performance bonuses. Figures were also allegedly presented to portray Autonomy as a money-making software business. [Yahoo Finance UK]
Vanguard lowers costs for 1.5 million clients. Mutual fund giant Vanguard announced that it would lower the barrier to entry for 38 of its top-tier index funds from a minimum of $10,000 to $3,000, allowing for more investors to take advantage of the bulk discount. [Yahoo Finance]
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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.
