IMF warning; SoftBank and WeWork; Stocks drop

1. IMF warning: The International Monetary Fund has warned that a further escalation of tra...

Posted: Oct 10, 2018 12:21 PM
Updated: Oct 10, 2018 12:21 PM

1. IMF warning: The International Monetary Fund has warned that a further escalation of trade tensions could trigger another global financial crisis.

The fund said that risks to global financial stability are rising and it urged policymakers to step up efforts to complete financial reforms.

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In its financial stability report, the IMF also cautioned about the risks stemming from the combination of growing levels of debt in emerging markets and rising interest rates in the United States.

"Clouds gather on the horizon," it said. "Support for multilateralism has been waning, a dangerous undercurrent that may undermine confidence in policymakers' ability to respond to future crises."

2. Big tech deal brewing? The Wall Street Journal has reported that Japan's SoftBank (SFTBF) is in talks to acquire a majority stake in WeWork.

The money involved is huge. The potential investment, which would likely come from SoftBank's Vision Fund, could reportedly reach $20 billion. The deal would value the office space provider at up to $40 billion.

SoftBank committed $4.4 billion to WeWork last year, but investors appear to be nervous about a deeper relationship. Shares in SoftBank dropped 5.4% in Tokyo on Wednesday.

WeWork operates in more than 20 countries and could soon become the largest office tenant in Manhattan. But analysts have questioned whether the startup's valuation is justified as losses mount.

The Wall Street Journal reported that discussions between the companies remain fluid. Both declined to comment to CNN.

3. Global market overview: US stock futures were pointing lower.

European markets dropped at the open. Stocks in Asia struggled to find direction.

The Dow Jones industrial average closed 0.2% lower on Tuesday, while the S&P 500 shed 0.1%. The Nasdaq ended the session flat.

4. Earnings and economics: Fastenal (FAST) will release earnings before the open.

The US Bureau of Labor Statistics will release its producer price index for September at 8:30 a.m. ET.

The UK economy expanded by 0.7% in the three months to August, according to the Office for National Statistics.

5. Coming this week:
Thursday — Delta (DAL) earnings; Walgreens Boots Alliance (WBA); Deadline for Sky shareholders to accept Comcast offer; Monthly OPEC report
Friday — Citigroup (C), JPMorgan Chase (JPM), Wells Fargo earnings (WFC); US consumer sentiment for October

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 735999

Reported Deaths: 13486
CountyCasesDeaths
Marion1007151752
Lake54249977
Allen40946680
St. Joseph36335553
Hamilton35829408
Elkhart28844443
Tippecanoe22475219
Vanderburgh22367397
Porter18946311
Johnson18067381
Hendricks17317315
Clark13036192
Madison12762339
Vigo12501249
LaPorte12086215
Monroe11957172
Delaware10755187
Howard10001218
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Hancock8373142
Bartholomew8098156
Warrick7799155
Floyd7690178
Grant7098174
Wayne7072199
Boone6745101
Morgan6611140
Dubois6166117
Marshall6111112
Cass5876105
Dearborn583178
Henry5785105
Noble565984
Jackson503773
Shelby494396
Lawrence4602120
Gibson437192
Harrison436672
DeKalb430585
Clinton428453
Montgomery425889
Whitley398739
Huntington394480
Steuben391057
Miami383968
Knox372890
Jasper372649
Putnam363760
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White317754
Daviess298399
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Fayette282162
Greene280585
Posey272034
LaGrange268970
Scott267554
Clay261347
Washington242132
Randolph242081
Spencer232931
Jennings230949
Starke219354
Fountain213946
Sullivan212242
Owen203356
Jay197830
Fulton196040
Carroll190420
Orange184754
Perry184637
Rush174025
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Franklin168535
Tipton163445
Parke146716
Pike135634
Blackford135132
Pulaski117445
Newton108934
Brown102641
Crawford101415
Benton99014
Martin89515
Warren82615
Switzerland7948
Union71410
Ohio57111
Unassigned0417

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1091623

Reported Deaths: 19528
CountyCasesDeaths
Franklin1268061406
Cuyahoga1132982134
Hamilton804211211
Montgomery518231015
Summit47606955
Lucas42618792
Butler38548585
Stark32661909
Lorain25199486
Warren24390300
Mahoning21795588
Lake20846371
Clermont19880240
Delaware18608133
Licking16488212
Fairfield16327200
Trumbull16196468
Medina15379266
Greene15143244
Clark14096299
Wood13168189
Portage12966206
Allen11740232
Richland11433199
Miami10713220
Wayne8923214
Columbiana8881229
Muskingum8831133
Pickaway8596121
Marion8561136
Tuscarawas8509245
Erie7958155
Hancock6944128
Ashtabula6904172
Ross6876156
Geauga6741148
Scioto6444102
Belmont5978168
Union575448
Lawrence5590102
Jefferson5583151
Huron5462120
Sandusky5380122
Darke5374126
Seneca5311122
Washington5228109
Athens520858
Auglaize494986
Mercer481585
Shelby470293
Knox4513110
Madison439363
Putnam4301101
Ashland426590
Fulton426469
Defiance424697
Crawford3993107
Brown397557
Logan383276
Preble381398
Clinton374163
Ottawa369081
Highland356862
Williams343475
Champaign335358
Guernsey317653
Jackson314152
Perry295950
Morrow287239
Fayette283550
Hardin271964
Henry270366
Coshocton266157
Holmes2625101
Van Wert244263
Adams240053
Pike238634
Gallia236749
Wyandot232155
Hocking216462
Carroll192448
Paulding174340
Meigs145540
Noble134137
Monroe132542
Harrison109637
Morgan108823
Vinton84915
Unassigned02
Fort Wayne
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Feels Like: 60°
Angola
Partly Cloudy
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Hi: 77° Lo: 51°
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Partly Cloudy
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Hi: 75° Lo: 56°
Feels Like: 58°
Decatur
Partly Cloudy
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Hi: 77° Lo: 55°
Feels Like: 60°
Van Wert
Partly Cloudy
58° wxIcon
Hi: 78° Lo: 53°
Feels Like: 58°
Tuesday will be a mostly cloudy and warm day with the chance of a few afternoon thundershowers.
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