Reuters - Daily Investor Update

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Wednesday, November 29, 2017

Nasdaq falls with tech stocks; S&P ends flat

NEW YORK (Reuters) - The Nasdaq posted its biggest one-day drop in more than three months on Wednesday as investors fled high-flying technology stocks and shifted to banks and other pockets of the market that could benefit from improving economic conditions, lower regulations and taxes, and higher interest rates.

New Mexico AG to ask Wells Fargo for damages in accounts scandal

(Reuters) - New Mexico's attorney general on Wednesday announced plans to ask Wells Fargo & Co to pay damages on behalf of customers who were victims of a scandal in which the bank created as many as 3.5 million unauthorized accounts.

Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally

LONDON/NEW YORK (Reuters) - Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion.

Bitcoin's blistering rally tops $10,000 mark

NEW YORK (Reuters) - Red-hot bitcoin soared through an all-time high above $11,000 on Wednesday, taking its gains to nearly 1,000 percent so far this year, the most of any asset class.

Sterling rises on Brexit bets; stocks, oil fall

NEW YORK (Reuters) - The British pound touched a two-month high versus the U.S. dollar on Wednesday as Britain and the European Union moved closer to a Brexit deal, while a tech-sector selloff weighed on Wall Street and on stocks globally.

Slump in Facebook, Apple raises prospects of tech rally brake

SAN FRANCISCO (Reuters) - Shares of Facebook , Apple and other technology heavyweights dropped on Wednesday, creating uncertainty over whether the top-performing sector's record-breaking rally this year is ending or merely taking a break.

Meredith’s Time buy helps lift U.S. media lending to 11-year high

NEW YORK (Reuters) - U.S. media group Meredith Corp’s planned purchase of Time Inc is the latest in a run of mergers that have boosted media lending to the highest point in more than a decade as the sector regroups to fight online content providers.

Oil drops for third day, awaiting OPEC decision

NEW YORK (Reuters) - Oil prices dipped on Wednesday in a volatile session buffeted by conflicting statements from oil ministers a day ahead of OPEC's meeting in Vienna, as members debate the path for an extension of the group's supply-cut agreement.

AT&T CEO says blackout ban shows company willing to settle DOJ fight

(Reuters) - AT&T Inc's proposed seven-year ban on programming blackouts to distributors of some Time Warner Inc content shows that the company is willing to offer concessions to close its $85.4 billion bid for the programmer, AT&T's chief executive officer said on Wednesday.

U.S. third-quarter economic growth fastest in three years

WASHINGTON (Reuters) - The U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, buoyed by robust business spending on equipment and an accumulation of inventories.