OPEC, Samsung and Tax Reform -- This Is What You Need to Know
This is what you need to know on Thursday:
1. European stocks opened mixed with U.S. equity futures also poised for a rebound, as a tech sector sell-off ripples through global markets.
2. Morgan Stanley (MS) - Get Report reduced its rating on Samsung Electronics (SSNLF) , the world's biggest chipmaker, to 'equal weight' from 'overweight' and cautioned that the memory chip sector's so-called "super cycle" is close to peaking.
3. Investors are set to react quickly to any indication that U.S. lawmakers will vote on and pass tax reform proposals later this week.
4. Global oil prices were active ahead of Thursday's summit of OPEC leaders, as well as non-member producers, in Vienna, with investors continuing to bet on some sort of agreement that will extend the cartel's production cuts.
5. Credit Suisse AG (CS) - Get Report shares rose to the top of the market in Switzerland Thursday after the lender said it would kickback have of its net profits to investors as it trims costs and re-tools its wealth management and investor banking divisions amid activist pressure
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