Niu Technologies, a Chinese electric-scooter startup, sold $63 million worth of American depositary shares in its US initial public offering. The shares were originally marketed with a $10.50 to $12.50 suggested price range, but for the offering, they priced at $9.
European stock exchange operator Euronext has been talking to Italian tech startups about the advantages of going public on its Paris exchange, and at least 11 companies have expressed interest. Euronext is running a training program to get them ready for a Paris initial public offering.
Incorta, a data analytics startup, raised $15 million in an extension of a funding round that included an investment from Microsoft's M12 venture capital fund. Incorta says its technology lets companies create reports "within minutes as opposed to weeks."
Jane VC, a new venture capital fund looking for opportunities to invest in early-stage startups with female founders, doesn't want entrepreneurs to worry about getting a "warm introduction" in order to make a pitch. With Jane VC, a cold email will be just fine.
Technical analyst Chris Vermeulen and his research team have used Fibonacci retracement techniques to forecast crucial movements in US equities, predicting a peak Oct. 26 that will fade rapidly, followed by a breakout Nov. 12. However, in such volatile conditions, Vermeulen emphasizes a significant fall below a key support level would change the landscape.
The Dow Jones Industrial Average dropped over 300 points Thursday, with bellwether stocks Caterpillar and Apple suffering the biggest falls amid geopolitical and economic strains. Tension between the US and Saudi Arabia weighed on investors after US Treasury Secretary Steven Mnuchin pulled out of a Saudi investment conference.
Goldman Sachs economists have repeated their expectation the Federal Reserve will increase interest rates five times through the end of next year, two more than what markets have priced in. Goldman says the Fed will have to take firm steps to tighten monetary policy to prevent the economy from overheating.
Microsoft has gained impressively during the past three years, but technical analyst Bruce Kamich, CMT, forecasts an imminent stutter. The daily on-balance-volume line has weakened since September, the stock has slipped below the 50-day moving average and the daily and weekly moving average convergence divergence oscillators are emitting a sell signal.
Cryptocurrencies could end narrow consolidation and reach an inflection point within two weeks, technical analyst Robert Sluymer says. "Many are testing important technical trading levels that, if breached, is likely to trigger a dramatic response by traders," Sluymer says.
Wall Street banks have pushed back on a proposal from regulators to relax the Volcker rule. Trade bodies have argued the proposal's focus on the accounting treatment of trades is overly subjective, is too widely drawn and should be dropped.