Reuters/Ilya Naymushin
A worker controls forming of aluminium ingots on a conveyor belt at the foundry shop of the Rusal Krasnoyarsk aluminium smelter in Krasnoyarsk, Russia.
Global bond yields just exploded. The US 10-year yield climbed more than 3 basis points Thursday morning to 3.21% - its highest since May 2011. The benchmark yield is up about 15 bps since Tuesday's close.
Stanley Druckenmiller unloads on the unstoppable machines disrupting markets, and explains how they've kept him from dominating. "These algos have taken all the rhythm out of the market and have become extremely confusing to me," Druckenmiller told RealVision.com in an exclusive interview seen by Business Insider. "When you take away price action versus news from someone who's used price-action news as their major disciplinary tool for 35 years, it's tough, and it's become very tough. I don't know where this is all going."
GM and Honda are joining forces on self-driving cars. Honda will invest $2 billion over 12 years in the collaboration with GM's Cruise autonomous division, with an additional $750 million equity investment that brings Cruise's valuation to $14.6 billion, the automakers announced Wednesday.
AMD tumbles into a bear market before getting upgraded at Moody's. The chipmaker fell more than 8% early Wednesday, running its drop from its September highs to 22%, before receiving an upgrade at the ratings agency Moody's that cited strength in gaming consoles like Xbox an PlayStation.
Upwork soars in its trading debut. Shares gained as much as 57% in the their Nasdaq debut, before finishing up 41% at $21.18 apiece.
Dell has met with bankers to explore an IPO if its VMware tracking stock plan fails. Dell confirmed Wednesday that it has met with some investment banks to explore an initial public offering just in case its plan to repurchase the tracking stock of the company VMware - of which it owns 80% - in a $2.17 billion cash-and-stock deal falls through, Reuters says.
Danske Bank is facing a criminal investigation in the US over its $235 billion money laundering scandal. "We are co-operating with the authorities investigating us as a result of the case," Danske Bank interim CEO Jesper Nielsen said. "However, it is too early to speculate on any outcome of the investigations."
Stock markets around the world are mixed. Japan's Nikkei (-0.61%) trailed in Asia and Britain's FTSE (-0.48%) leads in Europe. The S&P 500 is set to open down 0.38% near 2,914.
Earnings reporting remains light. Constellation Brands reports ahead of the opening bell while Costco releases its quarterly results after markets close.
US economic keeps coming. Initial claims will be released at 8:30 a.m. ET before factory orders and durable goods both cross the wires at 10 a.m. ET.