scorecard
  1. Home
  2. finance
  3. What you need to know on Wall Street today

What you need to know on Wall Street today

Olivia Oran   

What you need to know on Wall Street today
Finance2 min read

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

Notorious skeptic Albert Edwards says stocks just flashed a rare bear market signal that showed up before the last 2 crashes - here's his best advice for navigating a possible meltdown

Semiconductor stocks have lagged the broader stock market's performance, leading to the reemergence of a technical pattern that preceded the last two market crashes.

Albert Edwards, a notoriously skeptical strategist at Societe Generale, said this has bearish implications for stocks.

The performance of chipmakers is used as a leading indicator because their products are required in the early stages of production for a plethora of tech devices.

China's export boom is a worrying signal that Trump's trade war will get worse

Chinese exports to the US have risen this year as the country looks to get as many goods as possible off its shores before steeper tariffs arrive in January.

"This growth is due to exporters' concern that the 10% tariffs on $200 billion of exported goods to the US will rise to 25% on 1 January 2019, which has led them to front-load exports," ING said in a report on Friday.

Exports grew 15.6% year-on-year, up from an original consensus of 11.7% growth. Once those tariff hikes kick in, these figures are likely to weaken, ING said.

Experts are pessimistic that the trade war will abate at this month's G20 summit. US President Trump and Chinese President Xi Jinping are expected to meet at this year's meeting at the end of November in Argentina. But hopes of a new trade deal between the countries have dampened on the back of negative rhetoric. This is despite booming demand from the US.

Famed tech investor Mary Meeker is looking to raise about $1.25 billion for a new growth fund

The premier Silicon Valley investor Mary Meeker is seeking to raise about $1.25 billion for a new growth fund, multiple sources tell Business Insider.

Meeker, who recently split off from the storied venture firm Kleiner Perkins Caufield & Byers to create her own fund, has yet to begin formal fundraising efforts. The amount Meeker seeks to raise may change in coming months, as conversations surrounding the fund's size are still very early, the people cautioned.

In markets news

READ MORE ARTICLES ON


Advertisement

Advertisement