10 things you need to know before the opening bell - Foenaija - Home
10 things you need to know before the opening bell

10 things you need to know before the opening bell

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10 thingsReuters / Ricardo Moraes

Here is what you need to know.

Facebook crushed Q3 earnings but warns that future profit will slow. The company's stock fell in after-market trading as it cautioned that future profitability will be impacted by increased investments around its efforts to fight fake news and abuse.

Tesla posted a big loss, cut Model X and Model S production to catch up on Model 3. The company reported the largest quarterly loss in its history and said it will to produce "about 10% fewer" units of those two models.

Alibaba surged after beating on earnings and boosting its outlook for the year. The company projected full-year revenue growth of 49%-53%, up from its earlier estimate of 45%-49%.

Blue Apron sales beat expectations, sending shares higher. The company said that it earned more revenue per customer in the third quarter.

Donald Trump is expected to appoint a new Federal Reserve Chair on Thursday. He looks set to appoint Jerome Powell, a former private-equity executive at Carlyle Group who now sits on the Fed board.

Bitcoin climbs past $7,300. The recent run has been helped by news on Tuesday that CME Group, the world's largest exchange operator, plans to introduce bitcoin future contracts in response to client demand.

Analysts are unanimously forecasting that the Bank of England will raise rates for the first time in 10 years. The decision will come at noon London time on Thursday.

Stock markets around the world are mixed. Hong Kong's Hang Seng (-0.26%) fell in Asia, while the Nikkei rose (+0.5%). The FTSE 100 (+0.32%) led mixed results in Europe, which saw the Euro Stoxx 50 decline (-0.25%). The S&P 500 is set to open down less than 0.1% near 2,573.

Earnings reporting remains heavy. Starbucks, Wingstop, Herbalife and Activision Blizzard are among the companies scheduled to report after the market close.

US economic data flows. Initial jobless claims will be released at 8:30 a.m. ET, as well as continuing claims and nonfarm productivity. Bloomberg's consumer comfort reading will cross the wires at 9:45 a.m ET.

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