Monday, February 11, 2019

Lower tax refunds might hurt the economy

DES PLAINES, IL - MARCH 23: The top of a form 1040 individual income tax return for 2005 is seen atop a stack on the same at the Des Plaines Public Library March 23, 2006 in Des Plaines, Illinois. Americans are preparing for the income tax filing deadline next month whether using tax software, filing on the paper forms or using a tax preparer.  (Photo by Tim Boyle/Getty Images)

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By CNN Business
Updated 33 min ago2:34 p.m. ET, February 11, 2019

Lower tax refunds might hurt the economy

Morgan Stanley makes its biggest purchase since financial crisis

Tesla isn't running out of cash after all, analyst says

From CNN Business' Jordan Valinsky
The fear of Tesla (TSLA) running out of cash is no longer a concern for at least one investment firm.
The firm also said that "liquidity is no longer a concern" because it has a $3.7 billion balance sheet.
Tesla's stock is down more than 8% for the year.
7 hr 52 min ago

Brexit bites

From CNN Business' Ivana Kottasová
The British economy grew 0.2% in the final quarter of 2018, compared to the previous three months, according to data published Monday.
The rate of expansion for the full year was 1.4%down from 1.8% in 2017.
Economists said that uncertainty over Brexit was a major factor in the poor performance, with business investment falling for the fourth consecutive quarter.
With less than 50 days to go before Brexit, Prime Minister Theresa May has still not identified an exit proposal that is acceptable to both the European Union and UK parliament.
Paul Dales, Capital Economics' chief UK economist, gave his take in a note to clients:
As the drag on growth from Brexit uncertainty is only going to be bigger in [the first quarter], there's little hope of a rebound early this year.
8 hr 37 min ago

Markets check before the bell

From CNN Business' Ivana Kottasová
US futures are pointing higher. 
This is a big week in the trade conflict between the US and China.
Trade talks between the countries have resumed, with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin set to travel to Beijing for discussions later this week.
Trump has threatened to increase existing tariffs and enact a third wave of penalties on Chinese goods if the two sides can't broker a permanent truce before the March 1 deadline.
Investors are also wary that Americans could face another possible government shutdown later this week.
Budget talks between Democrats and Republicans ground to a halt over the weekend in a dispute over immigration policy, which appeared to dash hopes that a deal could be reached by Monday to allow Congress ample time to pass legislation before a Friday deadline.

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