1. Fox hunt continues: Is Disney close to a deal with 21st Century Fox? Disney is reportedly in advanced discussions to buy parts of the media behemoth controlled by the family of Rupert Murdoch.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -38.00 | | -28.75 | | -3.00 | | -0.16% | | -0.46% | | -0.11% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -445.34 | | -9.71 | | -3.46 | | 22,177.04 | | 3,293.96 | | 7,324.04 | | -1.97% | | -0.29% | | -0.05% | | | |
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| | | Biggest Winners | | Twenty-First Century Fox Inc | +1.55% | | | | Electronic Arts Inc | +0.60% | | | | Walt Disney Co | +0.46% | | | Biggest Losers | | Skyworks Solutions Inc | -5.68% | | | | Henry Schein Inc | -2.95% | | | | Newmont Mining Corp | -2.68% | | | | Patterson Companies Inc | -2.56% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Fox hunt; Retail trouble; Bitcoin tops $12,000 | By Ivana Kottasová
Wednesday, December 6th, 5:18am | | | | 1. Fox hunt continues: Is Disney close to a deal with 21st Century Fox? | | | | Disney is reportedly in advanced discussions to buy parts of the media behemoth controlled by the family of Rupert Murdoch. | | | | Shares in Disney dropped 3% on Tuesday after CNBC reported that it could buy Fox assets including its movie studio, FX, National Geographic and Indian business Star. | | | | Speculation reached a fever pitch after the Financial Times said that Murdoch's son James could join Disney as part of the deal, and perhaps succeed CEO Bob Iger. | | | | The two companies have declined to comment, but investors won't be changing the channel. | | | | 2. Retail trouble: Shares in Steinhoff International plunged as much as 60% on Wednesday. | | | | Steinhoff isn't a household name in the U.S. But the retailer is a major player in Africa and Europe, where its holdings include the U.K.'s Poundland. | | | | CEO Markus Jooste resigned on Wednesday and the company announced an investigation into "accounting irregularities." | | | | Steinhoff also delayed its annual results, saying it would publish "when it is in a position to do so." | | | | 3. Global markets drop: It's shaping up to be a tough day for stocks. | | | | U.S. stock futures were lower. European markets were awash in red, following the mood set in Asia. | | | | The benchmark Shanghai Composite was about the only index to buck the trend, posting a gain of nearly 0.7%. | | | | U.S. oil futures dropped 0.4% to trade near $57 per barrel. | | | | On Tuesday, the Dow Jones industrial average dropped 0.5%. The S&P 500 and Nasdaq suffered smaller losses. | | | | 4. But wait! Bitcoin is back: Bitcoin has surged above $12,000 for the first time. | | | | The digital currency is up 1,100% since the start of the year -- despite leading figures in finance and economics warning of a bubble. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Companies and economics: American Eagle and H&R Block will release earnings before the open, while Broadcom and lululemon will follow after the close. | | | | The U.S. crude inventories report for the week of December 2 is set to be released at 10:30 a.m. ET. | | | | Canada's central bank will announce an interest rates decision at 10 a.m. ET. | | | | The Australian dollar dropped against other major currencies after new data showed the economy grew slower than expected in the third quarter. Australia has not suffered a recession, defined as two consecutive quarters of contraction, since 1991. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Wednesday -- H&R Block, American Eagle earnings
Thursday -- DOJ vs. AT&T status conference
Friday -- Jobs report | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $57.22 | -0.40 / -0.69% | | | Gold | $1,270.30 | +5.40 / +0.43% | | | 10-yr | 2.36% | -0.02 / -0.97% | | | Euro | $1.18 | +0.00 / +0.02% | | | |
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