Essential Business Headlines: October 5

Estimated Reading Time: 2 minutes

STOCKS/ECONOMY

• Stock futures are flat as investors begin another week that likely will again be focused on oil prices and interest rates.
• The yield on the 10-year Treasury bond is up to 5.30 percent.
• Gold is at the $4,183 per ounce level. Silver is at the $61 per ounce level. Bitcoin is at the $86,000 level.
• Asian markets closed mostly higher today. The Nikkei rallied 2.4 percent higher, the Hang Seng edged 0.3 percent higher, the Shenzhen lost 0.1 percent, and the Kospi was closed today.

OIL/ENERGY

• U.S. crude prices are down and at the $90 a barrel level.
• Gasoline prices are at $4.36 a gallon, national average. That’s 11 cents lower than a week ago today, but still 22 cents more than a month ago today.
• President Trump says he will “just charge them more” if South Korea doesn’t sign on soon as a customer for a $50 billion Alaskan liquefied natural gas (LNG) project.

MOVING AMERICA

• General Motors (GM) is promising to add hybrid models to its lineup to meet growing customer demand. GM shares are flat in the premarket, but up 30 percent from a year ago today.

GETTING A BRAZILIAN

• Brazilian bank stocks traded on U.S. exchanges are up in the premarket after Flavio Bolsanaro edged out communist leaning Luiz Inacio Lula Da Silva in the first round of the nation’s presidential elections. Banco Bradesco (BBD) shares are up 12 percent in the premarket and Itau Unibanco (ITUB) shares are up 14 percent.

DEALS/NO DEALS

• Schneider Electric is buying software company PTC (PTC) in a deal that values PTC at $22 billion. PTC shares are up 36 percent in the premarket.

COST OF TERROR

• Passengers who were aboard the Flydubai flight that as almost hijacked by the co-pilot could get liability payments of up to $210,000.

-Jake Novak

Jake Novak is a 30-yr. veteran TV news producer, editorial columnist, & fmr. diplomat with expertise in politics, business news, culture, & media analysis. He is also the author of Jake’s Takes on Substack.

The author’s views are their own and do not constitute financial, investment, or legal advice. Investing involves risk; please consult with a qualified professional before making any financial decisions.