10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, FOXA, DIS, CMCSA, TSLA, GM)


Achilles the cat World Cup prediction

Here is what you need to know.

The Fed gets more hawkish. The Federal Open Market Committee raised its key interest rate 25 basis points on Thursday to a range between 1.75% and 2%, and said it sees two more rate hikes this year for a total of four. It had previously expected just three rate hikes in 2018.

The ECB is on the brink of ending its QE program. The European Central Bank could announce plans to stop its €2.55 trillion ($3 trillion) bond-buying scheme, ending years of post-crisis stimulus, Reuters says. A decision will cross the wires at 7:45 a.m. ET.

Trump is getting ready to make a decision on slapping $50 billion worth of tariffs on China. President Donald Trump will meet with this top trade advisers Thursday to decide whether to place $50 billion of tariffs on Chinese goods that fall into 1,300 different product categories, Reuters says.

China’s economic data misses across the board. Retail sales grew by 8.5% year-over-year in April, making for the weakest reading since June 2003, according to National Bureau of Statistics data released Thursday. Fixed asset investment, industrial output, and mining output also fell short of expectations.

Here’s the real reason hedge funds give you ideas, according to Harvard. Hedge funds love to pitch stocks to investors at conferences and then exit those positions right after, according to a paper published by Harvard Business School PhD candidate Patrick Luo, who analyzed 341 stocks pitches by 29 hedge funds over five years.

A bidding war has broken out for 21st Century Fox assets. Comcast made a $65 billion offer for 21st Century Fox’s assets excluding the Fox News and Fox Business channels. That’s 24% higher than the bid Disney made for the company’s production assets and movie franchises.

GM …read more

Source:: Business Insider

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