Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
TOKYO (AP) — European shares made modest gains in early trading today as oil prices stabilized after their recent rout and Japan reported stronger-than-expected machinery orders. Asian markets were mostly lower. Futures point to opening gains today on Wall Street. Benchmark U.S. crude oil rose back above $38 a barrel. The dollar weakened against the yen and the euro.
WASHINGTON — The Commerce Department releases wholesale trade inventories for October this morning. In September, U.S. wholesalers responded to a sales rebound and boosted their stockpiles by the largest amount in three months.
BERLIN (AP) — Exports from Germany, Europe's biggest economy, dropped 1.2 percent in October after a strong gain the previous month. The decline was sharper than economists had expected. The drop reported today followed a 2.6-percent gain in September. Economists had forecast a 0.6-percent decline. The Federal Statistical Office said that imports dropped 3.4 percent after a slightly larger gain the previous month. That means that Germany's trade surplus widened.
UNDATED (AP) — Hyundai Motor Co. has kicked off sales of a flagship luxury sedan under its new premium brand, Genesis. The large-size sedan, to be called G90 overseas, is the first of six luxury car models that Hyundai plans to introduce under the Genesis brand by 2020. The model costs more than $99,000 in South Korea. Over at Toyota, the company says it expects annual sales of its newly-released fourth generation Prius hybrid to reach as many as 350,000 vehicles despite a big drop in oil prices making traditional gasoline cars cheap to run.
SYDNEY (AP) — Australian police involved in a tax investigation have raided the home and business of a man identified in technology news articles as the anonymous inventor of the virtual currency known as bitcoin. Technology publications Wired and Gizmodo published reports this week outlining their claims and saying the man has a large digital stash of bitcoins. Bitcoin is used for transactions across borders without third parties such as banks.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
