China's economy; Fiat Chrysler settlement; Stocks drop

1. China's economy: Data published by the Chinese government on Thursday has added to worri...

Posted: Jan 10, 2019 1:04 PM
Updated: Jan 10, 2019 1:04 PM

1. China's economy: Data published by the Chinese government on Thursday has added to worries about a sharp slowdown in the world's second largest economy.

Prices in China rose by much less than expected in December. The consumer price index dropped to 1.9%, well below the 3% upper limit set by the central bank, and producer prices grew at the slowest pace in two years.

Apple Inc

Asia

Banking, finance and investments

Business, economy and trade

China

Companies

Company activities and management

Company earnings

Continents and regions

East Asia

Economic indicators

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

International trade

North America

Securities trading

Stock indexes

Stock markets

The Americas

Trade and development

United States

Economic conditions

Inflation

Business and industry sectors

Consumer products

Price increases

Automotive industry

Fiat Chrysler

Consumer prices

Economic policy

Monetary policy

Analysts at Nomura said the reports are "further evidence that China's economy is slowing at a worrying pace."

Weak inflation gives Chinese policymakers more room to loosen monetary policy in order to boost economic growth. The big question is how much stimulus will be needed.

Data published on Wednesday showed that Chinese shoppers bought fewer cars last year as trade tensions and a weaker economy contributed to the first annual sales decline in two decades.

2. Fiat Chrysler settlement: Fiat Chrysler has agreed to pay hundreds of millions of dollars in fines and civil penalties to settle charges that its diesel vehicles sold in the United States violated emissions rules.

The settlement is due to be announced Thursday, according to a person familiar with the details.

The person told CNN the total sum will be in the neighborhood of the roughly $800 million that Fiat Chrysler (FCAU) previously said it had set aside to settle the case.

Fiat Chrysler's settlement is just a fraction of the $14.7 billion deal reached between US authorities and Volkswagen (VLKAF) in 2016, which covered cheating software on nearly a half-million diesel cars sold in the country.

3. Global market overview: US stock futures were lower, indicating the Wall Street might take a breather from its recent winning streak.

European markets opened down, following a negative trading session in Asia.

US oil prices retreated 1.4% following eight days of gains, the longest winning streak since July 2017. Crude was trading at $51.65 per barrel.

Stocks lost steam late Wednesday after President Donald Trump walked out of a government shutdown meeting with Congressional leaders, but they still managed to close higher.

The Dow and the S&P 500 added 0.4%. The Nasdaq climbed 0.9%, rallying for the ninth time in 10 days.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Companies and economics: Jaguar Land Rover will hold a press conference at 10:00 a.m. ET. UK media report the carmaker will announce as many as 5,000 job cuts amid falling sales.

UK lawmakers will continue to debate the Brexit deal negotiated by Prime Minister Theresa May on Thursday. The pound was trading 0.3% lower against the dollar.

A report on initial jobless claims in the United States will be published at 8:30 a.m. ET, giving investors an indication whether the labor market continued its strong ride into the New Year.

5. Coming this week:
Thursday — Federal Reserve Chairman Jerome Powell speaks at the Economic Club in Washington, DC
Friday — CPI reports

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 613228

Reported Deaths: 9728
CountyCasesDeaths
Marion846851338
Lake45676687
Allen32980552
Hamilton29649315
St. Joseph27531382
Elkhart24478345
Vanderburgh19610250
Tippecanoe18108141
Johnson15191295
Porter14944169
Hendricks14485250
Madison11044222
Clark10811144
Vigo10795181
Monroe9458113
Delaware9170134
LaPorte9145164
Howard8292144
Kosciusko810183
Warrick680299
Hancock6782104
Bartholomew6640100
Floyd6507110
Wayne6177162
Grant6027116
Dubois558680
Boone556468
Morgan548695
Henry511464
Marshall506984
Cass486964
Dearborn486545
Noble475659
Jackson427747
Shelby420781
Lawrence393780
Clinton375044
Gibson374459
Harrison353045
DeKalb349864
Montgomery347654
Knox336239
Miami324544
Steuben315046
Whitley311126
Wabash305851
Adams302836
Ripley300546
Putnam298950
Huntington294860
Jasper291734
White275143
Daviess271774
Jefferson266238
Decatur249583
Fayette248648
Greene242262
Posey241028
Wells236951
LaGrange230062
Scott226839
Clay224332
Randolph215248
Jennings200636
Sullivan193533
Spencer193022
Washington188023
Fountain184927
Starke176444
Jay168623
Owen167637
Fulton164830
Orange160935
Carroll159715
Rush156318
Perry155929
Vermillion149734
Franklin149333
Tipton133133
Parke13088
Pike118526
Blackford111822
Pulaski97837
Newton92021
Brown88335
Benton87110
Crawford8099
Martin74913
Warren6857
Switzerland6695
Union6297
Ohio4977
Unassigned0376

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 868656

Reported Deaths: 10768
CountyCasesDeaths
Franklin102154707
Cuyahoga865201153
Hamilton64744448
Montgomery43516419
Summit35250762
Lucas31663631
Butler31268232
Stark26096443
Warren19830142
Lorain19296229
Mahoning17471339
Lake16250154
Clermont16128112
Delaware1453680
Licking13326137
Fairfield1294981
Trumbull12920317
Greene12174141
Medina11732168
Clark11058265
Wood10457158
Allen9988127
Portage9454111
Miami924473
Richland9236118
Marion7486113
Tuscarawas7440183
Columbiana7409124
Pickaway732150
Wayne7111172
Muskingum710342
Erie6221130
Ross5558100
Hancock555292
Scioto542764
Geauga515955
Darke473492
Lawrence460658
Union456928
Ashtabula456473
Sandusky439562
Mercer435089
Seneca433866
Huron432841
Auglaize424164
Shelby422522
Jefferson422469
Belmont421145
Washington394240
Athens38389
Putnam378075
Madison358129
Knox356122
Ashland349038
Fulton340443
Defiance334486
Crawford325774
Preble322737
Brown315821
Logan312132
Ottawa296543
Clinton291543
Williams280367
Highland279018
Jackson265845
Guernsey257126
Champaign253428
Fayette239530
Morrow23464
Perry233718
Holmes226774
Henry221953
Hardin215533
Coshocton206922
Van Wert203445
Gallia199826
Wyandot196751
Pike178017
Adams177715
Hocking173224
Carroll157616
Paulding145321
Noble121040
Meigs109724
Monroe102232
Harrison89921
Morgan83931
Vinton71314
Unassigned00
Fort Wayne
Mostly Cloudy
26° wxIcon
Hi: 27° Lo: 22°
Feels Like: 18°
Angola
Cloudy
19° wxIcon
Hi: 24° Lo: 20°
Feels Like: 10°
Huntington
Cloudy
24° wxIcon
Hi: 26° Lo: 24°
Feels Like: 18°
Fort Wayne
Cloudy
26° wxIcon
Hi: 27° Lo: 25°
Feels Like: 18°
Lima
Cloudy
26° wxIcon
Hi: 28° Lo: 25°
Feels Like: 15°
More Clouds than Sun Wednesday
WFFT Radar
WFFT Temperatures
WFFT National

Community Events