Today's Top Story
Investors line up for Ant Group's record $34.4 billion IPO
HONG KONG (Reuters) - Ant Group Co Ltd <688688.SS> <6688.HK> is poised to raise up to $34.4 billion in the world's largest stock market debut as investors rush to buy into the fast-growing Chinese fintech giant despite risks of greater scrutiny at home and abroad. Read More
Business News
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Microsoft quietly prepares to avoid spotlight under Biden
WASHINGTON (Reuters) - Microsoft Corp, which has largely evaded Washington's scrutiny of Big Tech companies and scored a lucrative $10 billion government contract under the Trump administration, has emerged as a significant backer of the Biden campaign.
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Wall Street tumbles as virus cases soar, stimulus hopes fade
(Reuters) - U.S. stocks decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus cases and a political deadlock over the fiscal relief bill raised doubts about the fate of the economy recovery.
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Holiday shoppers are coming to town with health checklist: survey
(Reuters) - Holiday shoppers braving the coronavirus pandemic to buy gifts in person are checking which stores are naughty or nice in terms of public health, a worldwide survey released on Monday showed.
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Economic News
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U.S. new home sales drop; record low mortgage rates underpinning demand
WASHINGTON (Reuters) - Sales of new U.S. single-family homes unexpectedly fell in September after four straight monthly increases, but the housing market remains supported by record low mortgage rates and demand for more space as the COVID-19 pandemic drags on.
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Wall Street tumbles as virus cases soar, stimulus hopes fade
(Reuters) - U.S. stocks decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus cases and a political deadlock over the fiscal relief bill raised doubts about the fate of the economy recovery.
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Container lines expect U.S. import binge to lose steam
LONDON/LOS ANGELES (Reuters) - Surging shipments into the United States are fueling record high freight costs and logjams at seaports, but transportation executives say the rally will lose steam with a second wave of COVID-19 restrictions on the cards.
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Money News
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BlackRock downgrades U.S. Treasuries ahead of election
BOSTON (Reuters) - Top asset manager BlackRock Inc
on Monday downgraded U.S. Treasuries and upgraded their inflation-linked peers ahead of the U.S. election. -
Investors pile into options to bet on rate rise, Treasury weakness
(Reuters) - Investors have been buying options on eurodollar futures and interest rate swaps to bet on higher rates and falling U.S. Treasury debt prices if lawmakers pass more fiscal stimulus after next monthâs presidential election, if not before.
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Analysis: Green is the color of money for funds betting on a Biden win
NEW YORK (Reuters) - Fund managers betting that green-type stocks with environmental, social and governance (ESG) credentials will benefit from an expected win by Democrat Joe Biden in the U.S. presidential election are also looking at a swathe of other companies expected to rise along with them.
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