US stock futures declined on Tuesday as dollar rose to 106.357 level. Expectations of a December rate cut increased to 86.1%. Negative breadth in S&P 500 continued for sixth day.
Key Takeaways: OneConnect will shutter its cloud services division, which accounted for nearly half its revenue, after losing most of its customers for the business The development underscores a major risk for Chinese companies that rely too heavily on business from their parent and other related companies By Doug Young
Key Takeaways: Lufax announced a massive special dividend of $2.42 per ADS, equal to about half of its Friday closing price of $4.48 The company slashed the size of its loan portfolio by 45% last year, and expects to reduce it by another 32% this year as it focuses on higher quality borrowers By Doug Young
Companies Reporting Before The Bell • MainStreet Bancshares (NASDAQ:MNSB) is projected to report quarterly earnings at $0.52 per share on revenue of $17.10 million.
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining around 300 points on Thursday. The Dow traded up 0.77% to 39,814.95 while the NASDAQ rose 0.25% to 16,410.54. The S&P 500 also rose, gaining, 0.38% to 5,244.72.
