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Here are five things you need to know for Tuesday, October 9:
1. – Stocks collapse with bond yields at their highest level in seven years
US equity futures indicated a lower opening on Wall Street on Tuesday (October 9th) as the 10-year Treasury yield surpassed 3.25%, a new seven-year high.
Dow Jones Industrial Average contracts were down 90 points, S & P 500 futures lost 9.25 and Nasdaq futures lost 22.25 points.
Bond yields have risen as recent US economic data indicates that investors expect the Federal Reserve to raise interest rates faster than expected, as inflationary pressures deepen in the world's largest economy.
Equities have also been affected by the deterioration of the global economy by the International Monetary Fund. The IMF, citing rising interest rates and increasing trade tensions, said the global economy would grow by 3.7 percent in 2018, unchanged from 2017, but down from 3.9% expected two months ago.
The US economic calendar on Tuesday includes opening remarks by Charles Evans, president of the Chicago Federal Reserve, at the 2018 Opportunity Finance Network conference in Chicago at 10 am ET.
Results reporting is provided by AZZ Inc. (AZZ) and Helen of Troy Inc. (HELE).
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2. – Google will not bid for a $ 10 billion deal with the Pentagon Cloud
Google will not compete with the $ 10 billion Pentagon cloud computing contract, saying the project may conflict with corporate values, Bloomberg said.
The bids for the project, known as the Joint Venture Defense Infrastructure (JEDI) cloud, are due Friday, October 12th. The contract could last up to 10 years.
"We are not bidding for the JEDI contract because, first, we could not make sure it would comply with our principles of artificial intelligence," a Google spokesman told Bloomberg. "And secondly, we determined that some parts of the contract were out of reach with the current government certifications."
A few months ago, Google decided not to renew its contract with an artificial intelligence program of the Pentagon, after employees protested against the company working with the army.
By the way, Google is expected to unveil Tuesday two new Pixel brand smartphones at an event in New York.
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3. – Dad John's jumps on the reports of a potential public tender offer
The shares of Papa John's International Inc. (PZZA) surged on Monday afternoon after the release of a report that Trian Fund Management LP was considering making an offer to buy for the channel. pizza.
Shares rose 8.3% to $ 54.60 as a result of the Wall Street Journal report.
Papa John's was put on sale earlier this year after the company's board of directors forced its founder and chairman, John Schnatter, to use a derogatory racial term during a marketing call. Schnatter remains on the board of directors and still holds about 30% of the company.
Trian asked the company for information when considering a possible offer, the newspaper reported, citing unnamed sources. Trian's approach is one of many proposals received by the pizza chain, the Journal added.
4. – Microsoft invests in the Ride-Hailing Grapple
Microsoft Corp. (MSFT) announced Monday that it would invest in the Singapore-based Grab control company as part of a technology partnership.
The value of Microsoft's investment has not been revealed.
Companies plan to collaborate in areas such as big data and artificial intelligence. Grab will adopt Microsoft Azure as the preferred cloud platform.
"We are fascinated by emerging companies in Southeast Asia," Peggy Johnson, Executive Vice President of Microsoft, told CNBC. "It's amazing to see what they did with the technology, the way they applied it to solve the problems of their customers."
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5. – Richard Branson says Virgin Galactic wants to access the space "a few weeks from now
Richard Branson, billionaire and British entrepreneur, believes that his airline Virgin Galactic will make his first trip in space "in a few weeks, not in months".
"Then we will be in space with myself in months and not years," Virgin's founder and CEO told CNBC.
"We will be in space with people shortly after, so we have two very exciting months," he added.
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