 | | | | Apple Inc on Wednesday cut its current quarter revenue forecast, citing fewer iPhone upgrades and weak sales in China. | | | | | | (This december 30 story corrects name of indexes in paragraphs 4 and 22 to ICE BofAML from Bank of America/Merrill Lynch) | | | | | | Wall Street edged nominally higher on Wednesday after stumbling out of the starting gate on the first trading day of the new year as bargain-hunting was offset by fears of a global economic slowdown. | | | | | | Shares in Tesla Inc dropped as much as 9 percent on Wednesday on worries of future profitability, after the electric car maker cut U.S. prices for all its vehicles to offset lower green tax credits, while falling short on quarterly deliveries of its mass-market Model 3 sedan. | | | | | | Oil prices rose about 2 percent in choppy trading on Wednesday, supported by a slight recovery on Wall Street, even as concerns remained about weakening global economic growth which could hurt demand for oil. | | | | | | The Treasury yield curve flattened on Wednesday afternoon as shorter-dated yields rose on higher oil prices, while at the long end, the benchmark 10-year U.S. government bond was driven to an 11-month low by concerns about a global growth slowdown. | | | | | | Stocks recovered much of their losses on Wednesday as investors took advantage of cheaper shares to ring in the new year, but lingering economic concerns from weak Chinese and European data boosted safe-haven assets including benchmark U.S. Treasury notes and the Japanese yen. | | | | | | Alphabet Inc's Google unit won approval from U.S. regulators to deploy a radar-based motion sensing device known as Project Soli. | | | | | | Drugmakers kicked off 2019 with price increases in the United States on more than 250 prescription drugs, including the world's top-selling medicine, Humira, although the pace of price hikes was slower than last year. | | | | | | General Motors Co hit 200,000 total electric vehicles sold in the United States by the end of 2018, reaching a threshold that triggers a phase-out of a $7,500 federal tax credit over the next 15 months, a person briefed on the matter said Wednesday. | | | | | | Netflix Inc said on Wednesday it had appointed media finance veteran Spencer Neumann from Activision Blizzard as its chief financial officer. | | | | | |
