From the aftermath of Hurricane Harvey to all things Trump, here are several hot stories as August winds to a close.
Emerging Markets on Fire
As U.S. stocks have struggled to find solid ground in August amid geopolitical turmoil with North Korea and devastation following Hurricane Harvey, emerging market stocks continue to rise.
August was the eighth-straight month of gains for emerging market stocks. The iShares MSCI Emerging Markets ETF (EEM) has risen sharply since the start of this year, up nearly 30%. The S&P 500 Index has gained 9.7%.
Full story here.
Copper Prices Are on Fire, Too
Copper prices rose 70 cents, or 0.2%, midday Thursday to $309.40 per pound as demand from China, the world's largest copper consumer, increases amid optimistic growth prospects.
The base metal is headed toward its highest price since late 2014 and is poised to gain 7% for August. The last time copper prices were this high was September 2014, when copper was at $316.95 per pound.
This is why.
Uber Is Still a Mess
Uber Technologies Inc.'s freshly appointed CEO, former Expedia Inc. (EXPE) chief Dara Khosrowshahi, has his work cut out for him in his new role atop the ride-hailing startup. But there's one challenge that might prove even more important than its well-publicized lawsuits and broken corporate culture.
Khosrowshahi is about to take the helm of a startup that's losing billions of dollars each year. And while some investors say that's a necessary price to pay for rapid revenue and customer growth, others contend that the hyper growth Uber has been known for isn't a given and could soon become unsustainable. And if a slowdown occurs, that could diminish the company's currently-assigned $68 billion valuation, while ratcheting up the pressure on Uber to finally turn a profit.
Here's TheStreet's extensive look at this issue.
New Apple Products Are Coming
The event will be held inside the 1,000-seat Steve Jobs Theater at Apple Park, the tech company's new "spaceship" campus.
Apple's showcase is likely going to highlight new products including three new versions of the iPhone, a next generation Apple TV with 4K ultra-high definition capability and an updated Apple Watch that can connect to LTE networks without being near a phone.
Wells Fargo Saga Continues
Wells Fargo & Co (WFC) disclosed Thursday that it uncovered nearly double the amount of fake accounts opened than it originally thought, with fraudulent accounts nearing 3.5 million instead of the original estimate of 2.1 million.
Thursday's disclosure on a conference call marks the end of the investigation into its fake accounts scandal by a third-party reviewer. That review looked at all 165 million retail accounts opened at the bank from January 2009 to September 2016, increasing the time frame for review from the previous window of May 2011 to mid-2015.
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