- Eurozone states will find a solution to the Greek debt crisis and Greece should remain in the single currency area, French Finance Minister Michael Sapin said. Greece overturned some civil service reforms earlier this week, raising the stakes in the negotiations with eurozone creditors.
- The Fed is sketching out plans to prevent an abrupt contraction in its massive balance sheet next year, which would affect the economic recovery and disrupt markets, Reuters reports. Asked publicly and privately about the longer-term strategy, Fed policymakers say they are in no rush to shrink the $4.5 trillion portfolio, suggesting they will seek to avoid a "cliff" -- a disruptive end to reinvestments that might come if bonds are simply allowed to run off through maturity or prepayment.
- General Motors (GM) said its sales in China fell by 0.4% in April from the same period last year.
- The world's largest steelmaker by sales, ArcelorMittal (MT), downgraded its 2015 earnings expectations because of the sharp fall in iron ore prices. The cut in guidance comes as the company reported a widening loss in the first quarter mainly due to its mining division and foreign exchange effects.
- Car registrations in the U.K. rose by 5.1% year on year in April, according to an industry body. The Society of Motor Manufacturers and Traders said the increase meant sales were up by 6.4% in the first four months of the year to 920,366 cars.
More from Markets
Apple will set the tone with its report tonight and then we will look ahead to the Fed tomorrow.
A quick resolution to the Coronavirus situation doesn't necessarily equate to a quick market recovery -- but these 2 domestically-focused airlines should weather it well.
This coronavirus remains a China-centric problem? People are not yet dying in other countries. Do we have to worry here? That's the wrong question.
The news coverage of the coronavirus may be too negative and sensationalistic, but that doesn't help us to quantify the ultimate impact.