Canada Markets closed

Morning Brief: US mulls building 5G network amid cybersecurity concerns

Monday, January 29, 2018

What to watch today

President Donald Trump is back from Davos. Stocks are at record highs. And some of the biggest names in the market are set to report fourth quarter earnings in the week ahead. Monday will be relatively quiet for earnings. However, Apple (AAPL), Amazon (AMZN), and Google parent company Alphabet (GOOGL) all expected to report earnings after the bell on Thursday. Wednesday afternoon will also be a major one for tech, with Facebook (FB), Microsoft (MSFT), Qualcomm (QCOM), eBay (EBAY), and PayPal (PYPL) all reporting results.

On Monday, we’ll get the December personal income and spending report. Income is estimated to have increased by 0.3% while spending is estimated to have grown by 0.4%.

Read More

Top news

US considers building 5G network amid China concerns: The U.S. is in talks with private companies to build a secure 5G network amid concerns about China and cybersecurity, said two administration officials familiar with the plans. Talks are preliminary, and key decisions over funding and control haven’t been reached, said the people, who discussed the deliberations on condition of anonymity. [Bloomberg]

Sanofi buys Ablynx for $4.8 billion: French drugmaker Sanofi (SNY) has agreed to buy Belgian biotech company Ablynx (ABLX) for 3.9 billion euros ($4.8 billion), beating Novo Nordisk and marking its second big deal this month after buying Bioverativ (BIVV). The deal is a further sign of accelerating mergers and acquisition (M&A) activity in the global biotech sector and comes after Ablynx rejected a 2.6 billion euro offer from Denmark’s Novo Nordisk. [Reuters]

Wynn resigns as top GOP finance chairman: Casino mogul Steve Wynn resigned Saturday as finance chairman of the Republican National Committee amid allegations of sexual harassment and assault. Wynn has been a prolific Republican donor and led the RNC’s fundraising efforts during President Donald Trump’s first year, helping the committee rake in more than $130 million. [AP]

Wall Street to Vanguard: We’re not your doormat: In the past year, large financial firms including Fidelity Investments, TD Ameritrade and Morgan Stanley have all made changes to their fees or product lineups that make it more expensive for some customers to invest in Vanguard’s funds. In some cases, these firms have even made it impossible to invest in Vanguard mutual funds at all. [The Wall Street Journal]

Goldman thinks this Fed meeting may not be a sleeper after all: Far from being a complete nonevent, Goldman Sachs Group Inc. expects a slightly hawkish upgrade of language at the Federal Reserve meeting this week, slated to be Janet Yellen’s last. [Bloomberg]

For more of the latest news, go to Yahoo Finance

Yahoo Finance is holding a live summit on cryptocurrencies, featuring a range of big-name guest speakers, on Feb. 7 in New York City. Get your ticket here.

Bruno Mars won six Grammys overall — a clean sweep of his six nominations at the 60th annual Grammy Awards at Madison Square Garden on Sunday, Jan. 28, 2018 in New York City. (AFP Photo/Timothy A. CLARY )

Yahoo Finance Originals

Trump gets normal. For how long?

Turkish-Iranian gold trader’s ‘Beautiful Mind’ testimony drove US sanctions case

Robert Shiller: The stock market today is similar to the stock market in 1928

Health care costs are still a crushing problem

There’s a new drone that will fit into your pocket

Like what you just read? Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. And feel free to share it with a friend!

The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.