1. More trouble at Tesla: The Securities and Exchange Commission filed a lawsuit against Tesla CEO Elon Musk on Thursday accusing him of making "false and misleading" statements to investors. The commission is asking a federal judge to prevent Musk from serving as an officer or a director of a public company, among other penalties.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -60.00 | | -16.25 | | -5.75 | | -0.23% | | -0.21% | | -0.20% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +323.30 | | +29.58 | | -19.98 | | 24,120.04 | | 2,821.35 | | 7,525.46 | | +1.36% | | +1.06% | | -0.26% | | | |
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| | | Biggest Winners | | NVIDIA Corp | +1.73% | | | | SCANA Corp | +0.88% | | | | Xilinx Inc | +0.35% | | | | Lowe's Companies Inc | +0.33% | | | Biggest Losers | | Newell Brands Inc | -1.61% | | | | Micron Technology Inc | -0.96% | | | | Advanced Micro Devices Inc | -0.89% | | | | Twitter Inc | -0.75% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | More trouble at Tesla; Ryanair strikes; Italian drama | | By Ivana Kottasová | | | | 1. More trouble at Tesla: The Securities and Exchange Commission filed a lawsuit against Tesla CEO Elon Musk on Thursday accusing him of making "false and misleading" statements to investors. | | | | The commission is asking a federal judge to prevent Musk from serving as an officer or a director of a public company, among other penalties. | | | | The complaint hinges on a tweet Musk sent on August 7 about taking Tesla private. "Am considering taking Tesla private at $420," Musk wrote. "Funding secured." The SEC said he had not actually secured the funding. | | | | The lawsuit could prove costly for Tesla. Shares in the company dropped 11% in premarket trading. | | | | 2. Ryanair strikes: Shares in Ryanair swung between losses and gains after the budget airline canceled 250 flights across Europe because of strikes. | | | | The carrier already suffered this summer from a sharp rise in fuel costs and strikes by air traffic controllers and pilots. Its shares are down around 12% since the start of the year. | | | | Rival low-cost airline EasyJet said Friday that it expects profits to rise this year, noting that it has "benefited from Ryanair cancellations." | | | | 3. Shaky Italy: Italian bond yields jumped Friday, suggesting investors are starting to worry more about the country's ability to pay its debts. | | | | Italy's populist government agreed Thursday to put forward a budget proposal that would result in a much higher deficit than last year's, putting it on course for a clash with the European Commission. | | | | "Italy is bringing itself into a precarious position," said Holger Schmieding, chief economist at Berenberg. | | | | "Because Italy's underlying fundamentals are shaky, it may not take much to trigger a major sell-off in Italian bond markets that would weaken banks, tighten financing conditions and dampen economic growth further," he added. | | | | The main stock index in Milan dropped more than 2% on Friday morning, significantly more than other major European markets. | | | | 4. Global market overview: US stock futures were flat early on Friday. | | | | European markets opened lower, while markets in Asia closed mostly higher. | | | | The Dow Jones Industrial Average closed 0.2% higher on Thursday, while the S&P 500 was up 0.3% and the Nasdaq gained 0.7%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: BlackBerry plans to release earnings before the open Friday. | | | | The Bureau of Economic Analysis will publish its August PCE prices at 8:30 a.m. ET. | | | | Bed Bath & Beyond plunged 21% on Thursday after reporting poor same store sales. At one point the shares were down as much as 25%, hitting an 18-year low. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
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| Key Market Stats | Latest | Today's Change | | | Oil | $72.14 | +0.02 / +0.03% | | | Gold | $1,188.00 | +0.60 / +0.05% | | | 10-yr | 3.06% | -0.01 / -0.16% | | | Euro | $1.16 | -0.00 / -0.42% | | | |
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