SEVERE WX : Excessive Heat Warning - Flash Flood Warning - Flood Warning View Alerts
STREAMING NOW: Watch Now

G20 summit; Deutsche Bank raids; Oil in focus

1. G20 in Buenos Aires: Leaders representing the world's largest economies have gathered in...

Posted: Nov 30, 2018 12:11 PM
Updated: Nov 30, 2018 12:11 PM

1. G20 in Buenos Aires: Leaders representing the world's largest economies have gathered in Argentina for a crucial summit.

Trade will be high on the agenda at the G20. Investors will monitor talks between the United States and China for any signs of a breakthrough that would ease tensions and help avoid more tariffs.

Banking, finance and investments

Business and industry sectors

Business, economy and trade

Company activities and management

Company earnings

Consumer products

Continents and regions

Economic indicators

Economic policy

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

Government organizations - US

Holiday retail

Interest rates

International trade

Monetary policy

North America

Seasonal retail

Securities trading

Stock indexes

Stock markets

The Americas

The Fed

Trade and development

United States

US federal departments and agencies

US government independent agencies

Wall Street

Commodity markets

Energy and utilities

Energy commodities

Oil and gas industry

Oil prices

Eastern Europe

Europe

Government and public administration

Investigations

Political Figures - Intl

Politics

Russia

Russia meddling investigation

Vladimir Putin

Companies

Deutsche Bank AG

Diplomatic talks and summits

G20 summits

Inter-governmental talks

International relations

International relations and national security

Donald Trump

Political Figures - US

Energy and resources

Energy economic indicators

Crime, law enforcement and corrections

Criminal offenses

Digital crime

Technology

President Donald Trump and his Chinese counterpart, Xi Jinping, are scheduled to have dinner on Saturday.

"I think we're very close to doing something with China, but I don't know that I want to do it, because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes," Trump told reporters on Thursday.

2. Oil prices in focus: The price of US crude has plunged roughly 22% so far in November. Oil futures dropped another 1% on Friday to below $51 amid continued worries about oversupply.

Russian President Vladimir Putin and Saudi Arabian Crown Prince Mohammed bin Salman, leaders of two of the worlds biggest oil producers, will meet this weekend at the G20.

The two countries are key signatories to an agreement that aims to reduce supply and boost prices. There's talk that OPEC and Russia may agree further cuts at a meeting next week in Vienna.

That's exactly what Trump doesn't want. Last week he tweeted a "thank you to Saudi Arabia," for keeping prices down, "but let's go lower," he added.

3. Major data breach: Marriott says its guest reservation system has been hacked, potentially exposing the personal information of approximately 500 million guests.

The hotel chain said Friday the hack affects its Starwood reservation database, a group of hotels it bought in 2016 that includes the St. Regis, Westin, Sheraton and W Hotels.

Marriott said hackers had gained "unauthorized access" to the Starwood reservation system since 2014, but the company only identified the issue last week.

Shares in Marriott (MAR) are plunging on the news, falling nearly 6% in premarket trading.

4. More trouble for Deutsche Bank: German authorities carried out raids of Deutsche Bank (DB) offices in Frankfurt for a second day on Friday as part of an investigation into potential money laundering.

Shares in Deutsche Bank dropped another 2%, bringing total losses for 2018 to a staggering 48%.

Prosecutors say Germany's largest lender is suspected of helping clients to set up offshore companies in tax havens. Investigators are also looking at whether Deutsche Bank failed to report suspicious transactions.

The investigation comes amid continued questions about the bank's business strategy and direction.

5. Global market overview: US stock futures were pointing lower.

European markets opened in negative territory, while stocks in Asia ended the session mixed.

The Dow closed down 0.1% on Thursday. The S&P 500 shed 0.2% and the Nasdaq lost 0.3%.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

6. Economics: The Federal Reserve on Thursday paved the way for an interest rate hike in December, but sent a clear signal to investors that it would exert greater flexibility with its plans to ratchet up rates in 2019.

Minutes of the US central bank's November policy meeting showed "almost all participants" agreed another rate hike would likely be necessary "fairly soon," if incoming data matched policymakers current expectations.

Canada's third quarter GDP report will be published at 8:30 a.m. ET.

Markets Now newsletter: Get a global markets snapshot every afternoon. Sign up now!

7. Coming this week:
Friday — G20 begins in Argentina

Article Comments

Mason City
Clear
79° wxIcon
Hi: 95° Lo: 75°
Feels Like: 83°
Albert Lea
Clear
77° wxIcon
Hi: 93° Lo: 72°
Feels Like: 79°
Austin
Clear
77° wxIcon
Hi: 95° Lo: 75°
Feels Like: 79°
Charles City
Clear
77° wxIcon
Hi: 93° Lo: 75°
Feels Like: 78°
Rochester
Scattered Clouds
74° wxIcon
Hi: 91° Lo: 72°
Feels Like: 74°
Another round of dangerous heat and potentially dangerous storms for Friday
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

RCTC hires Bonde as women's coach

Image

IGHSAU state softball pairings

Image

21st Century Approach to Softball

Image

Save the track efforts continue

Image

Beating the heat at the North Iowa Fair

Image

Kemps releases new ice cream flavors to help beat the heat

Image

Eyota firefighters dig their renovated digs

Image

Home explosion rocks neighborhood

Image

Chris' PM Weather Forecast 7/18

Image

Places to avoid the heat

Community Events