Wall Street is seeing green once again after a short reprieve yesterday. All three major averages are sharply higher with financials leading the advance after the Fed raised interest rates for the first time in this year yesterday and signaled it will increase rates three times in 2017.
Here are some of the other stories the Yahoo Finance team is covering for you today.
Good vibes at Trump tech summit
At Wednesday’s meeting at Trump Tower between the president-elect and some of the technology’s world’s biggest names, Donald Trump praised the industry and urged the executives to keep going with “the incredible innovation.” Amazon (AMZN) CEO Jeff Bezos—a target of Trump during the campaign—called the meeting quote “productive.” Was this just for show or will Trump win over some of the Silicon Valley elite who opposed him?
China’s beef with a US automaker
The official China Daily newspaper reports China will soon penalize an unnamed US automaker for monopolistic behavior. The report sent shares of General Motors (GM) and Ford (F) falling in US trading. The paper said investigators found the unnamed car company instructed distributors to fix prices starting in 2014. Is this connected to Donald Trump’s questioning of the “one China” policy?
Uber slams into SF roadblock
Uber, the ride-hailing company, expanded its self-driving car pilot program to San Francisco Wednesday. But late Wednesday the state’s DMV told Uber it has to stop the service because it failed to get the proper permits. Oh, and one of Uber’s self-driving vehicles apparently ran a red light. What does this say about Uber’s attitude toward regulators?
