The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a monthlong truce.Marketsread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
The largest residential brokerage company in the U.S. is partnering with the largest online retailer in a strategy to boost sales for both.Real Estateread more
Here are the biggest calls on Wall Street on TuesdayInvestingread more
Canaccord Genuity's Tony Dwyer believes stocks are about to fall as much as 5% from their all-time highs.Trading Nationread more
European markets closed lower Wednesday, as investors awaited a key meeting between the European Commission and President Donald Trump and digested fresh earnings.
The pan-European Stoxx 600 closed down 0.3 percent with the different sectors moving mostly lower. Basic resources and autos were the worst performers given their link to trade. On the other hand, financial services and household goods finished higher supported by strong earnings. Private equity fund 3i rose 2.7 percent after a strong earnings report, while LVMH was up by 1.8 percent after posting robust results for the first half of the year.
Looking across the European benchmark, Swiss drug manufacturer Lonza lifted its outlook for the year, prompting shares to jump over 6 percent. Also Telefonica Deutschland rose about 8 percent after confirming it is on track to deliver its target for the year.
Deutsche Bank shares closed 1.4 percent lower after reporting a net profit of 401 million euros ($468 million) during the course of its second quarter. Furthermore, Indivior shares fell as much as 7.7 percent after reporting a 24 percent drop in second-quarter pretax profit.
Shares of Fiat Chrysler also fell following comments from the company's new CEO that its outlook had been lowered. The announcement came only two hours after news that former chief Sergio Marchionne had passed away. Fiat shares closed down by nearly 15 percent.
In the U.S. on Wednesday afternoon, stocks were lower as investors received the latest batch of corporate earnings. Dow-component Boeing reported better-than-expected earnings, but the stock fell more than 1.5 percent after the company issued full-year guidance that disappointed Wall Street.
Investor sentiment is somewhat cautious ahead of a meeting between the president of the European Commission, Jean-Claude Juncker, and President Donald Trump at the White House in Washington. During the gathering, the two leaders are expected to discuss a range of topics including trade relations.
In June, the U.S. president threatened a 20 percent tariff on imported cars from the European Union. Last week, the EU’s Trade Commissioner Cecilia Malmstrom said in Brussels that if the U.S. imposed these levies, it would be “very unfortunate.” In addition, the commissioner announced that the EU was preparing its own list of countermeasures.