Reuters - Daily Investor Update

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Wednesday, March 8, 2017

Snap perks up after initial rush of short sellers

SAN FRANCISCO (Reuters) - Shares of Snap Inc rebounded on Wednesday following a steep selloff while an initial rush to short sell the stock appeared to be slowing.

Trump to talk infrastructure with Musk, other business leaders: source

WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday will discuss the administration's plans to boost infrastructure spending with Elon Musk, who heads Tesla Inc and Space X, and other business leaders, a White House official said.

Wall Street choppy as data strengthens rate hike odds

(Reuters) - The S&P 500 and the Dow Jones Industrial Average swung between losses and gains on Wednesday after a strong private hiring report raised the odds of an interest rate hike next week, lifting bank stocks while dragging rate-sensitive sectors.

'It's like kumbaya:' Trump's genial private meetings with CEOs jar with public attacks

WASHINGTON (Reuters) - When the bosses of some of the world's largest pharmaceutical companies headed to Washington in January to meet U.S. President Donald Trump, it had all the makings of a potentially hostile meeting.

SEC nominee Clayton vows separation from his Wall Street law firm

WASHINGTON (Reuters) - Wall Street attorney Jay Clayton, President Donald Trump's pick to head the U.S. Securities and Exchange Commission, has vowed to recuse himself from agency matters involving his law firm and former clients, according to an ethics agreement made public on Wednesday.

Samsung to expand in U.S., shift some manufacturing from Mexico: WSJ

(Reuters) - Samsung Electronics Co Ltd is planning to expand its U.S. production facilities, shifting some manufacturing from Mexico, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Dollar, global stocks rise as data boosts Fed hike bets

NEW YORK (Reuters) - The dollar gained and stocks on Wall Street mostly rose on Wednesday after U.S. private sector hiring surged in February, underscoring the economy's strength and adding to expectations the Federal Reserve will raise interest rates next week.

Viacom in talks with ex-Fox Chairman Gianopulos to lead Paramount: WSJ

(Reuters) - Viacom Inc is in talks with former Twentieth Century Fox Chairman Jim Gianopulos to lead its Paramount Pictures film studio, the Wall Street Journal reported.

U.S. insurer AIG makes Luxembourg its EU hub to cope with Brexit

LONDON (Reuters) - U.S. insurer AIG plans a European Union hub in Luxembourg following Britain's decision to leave the bloc, the biggest financial services firm so far to detail such a move.

Watchdog to ask U.S. lawmakers to probe Icahn's role with Trump

(Reuters) - A government watchdog group, Public Citizen, said on Wednesday it has asked lawmakers to investigate whether billionaire investor Carl Icahn should have been subject to lobbying disclosure laws when he advised President Donald Trump to overhaul the U.S. biofuels program.