Closing Bell
The major U.S. indices had a volatile day of trading Wednesday, spending time in both positive and negative territory.
The Dow Jones Industrial Average gained 0.1%, or 27 points to 25,998, while the S&P 500 rose 0.03%, or 1 point to 2,88, and the Nasdaq dipped 18 points to 7,954.
GM Recalls 240,000 Vehicles Over Rear Brake Problem
General Motors (GM) announced a recall affecting 240,000 vehicles over a rear brake problem. The recall covers GMC Terrain, Buick Lacrosse and Regal, Cadillac XTS and Chevrolet Cruze, Equinox, Volt, Impala and Bolt vehicles from 2018 and 2019. Also covered is the 2018 Chevrolet Malibu, according to the Associated Press.
Hydrogen gas can get trapped in the rear brake caliper pistons of the vehicles, making the brakes feel soft and increasing the chances of an accident. GM says that is not aware of any crashes due to the problem.
GM shares are up more than 1% Wednesday afternoon.
Equinix Names Charles Meyers as Its New CEO
Equinix Inc. (EQIX) sees global expansion as its biggest growth driver, and the company's decision to name Charles Meyers as its new chief executive officer reflects this belief.
Meyers, who joined the company eight years ago and has spearheaded the company's global drive since becoming Chief Operating Officer in 2013, takes over a company that has seen its annual revenue more than quadruple to over $5 billion this year.
"The company's strategy is sound. We are well positioned in a changing market for growth, but we are also mobile enough to adapt to any further changes," Meyers told TheStreet in an interview Wednesday. "The digital transformation has become a base level issue for companies around the world. Equinix brings a compelling value proposition.
Equinix is a data center real estate investment trust (REIT) that operates 200 data centers in 52 countries. The company competes with other data center REITs like Digital Realty Trust (DLR) , CyrusOne (CONE) , and CoreSite Realty (COR) .
Amazon Will Sell Live Christmas Trees This Year
Amazon (AMZN) is disrupting everything in tech, but now add the Christmas tree industry to a segment in the e-retailer's crosshairs.
The Associated Press is reporting that Amazon will begin selling the trees sometime in November with a selection of Douglas firs, Norfolk Island pines and other options going for $115. Web orders accounted for between 1% and 2% of the 27 million trees that were sold during the Christmas season last year.
Amazon also sold smaller live trees last year, but these trees are full-sized seven-footers. Shares of Amazon are up 0.34% premarket Wednesday.
Premarket
U.S. futures were mixed in the U.S. while Asian markets continued their decline Wednesday ahead of the opening bell.
Dow futures declined 0.05%, indicating an open 14 points lower, while S&P futures fell 0.06%, indicating an open 2 points lower, and Nasdaq rose 0.03%, indicating an open 2 points higher.
Asian markets were hit hard Tuesday, with the Nikkei falling 0.27%, the Hang Seng, which recently entered bear market territory, falling 0.28%, and the Shanghai Composite dropped 0.33%.
In Europe, the FTSE 100 rose 0.15%, the DAX rose 0.06%, and the CAC 40 rose 0.4% with about four hours left in trading Wednesday.
