Porsche contributed to a $19-million funding round for TriEye, an Israeli startup that developed a short-wave-infrared-sensing technology that enhances vision in adverse weather. TriEye said the new capital will be used for product development, hiring and expanded operations.
Twitter has acquired Hullabalu, a startup that developed Lightwell, an app creation engine. Hullabalu will become part of Twitter.
DoorDash has acquired Scotty Labs, a startup developing technology that allows vehicles to operate autonomously and by remote control. DoorDash didn't say what it has in mind for Scotty Labs.
Oncorus, a startup that developed a way to treat solid tumors with a cancer-fighting virus, raised $79.5 million in its most recent funding round. The new capital will allow the company to start a clinical trial of the treatment.
President Donald Trump says he is reviewing "various tax reductions," including cutting the payroll tax and indexing the capital gains tax to inflation. He has rejected the idea that the US is headed into a recession, touting the low unemployment rate and the amount the stock market has risen since he took office.
The S&P 500 has held against repeated tests of support since its Aug. 5 tumble and appears capable of building on its recent gains, says technical analyst Chris Ciovacco. However, he adds that the upturn cannot be guaranteed and comments: "Given concerns about global economic weakness, rare behavior in the bond market, and a speech from a Fed Chairman that has been known to spook markets via off the cuff remarks, it is extremely important that we remain open to all outcomes, from wildly bullish to wildly bearish."
Small-cap stocks continue to lag the S&P 500 and the chart for the iShares Russell 2000 index closely resembles the low point it reached in early 2016, when it began to gather upward momentum. Technical analyst JC Parets, CMT, contends it may have reached a similar bottom and it is logical to expect a revival at this point, conceivably led by an upturn for regional US banks.
The US Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. have signed off on a Volcker rule revamp that attempts to simplify the proprietary-trading ban and that clarifies limits for banks' investment in hedge funds or private equity funds. The changes are expected to gain approval from the Federal Reserve, the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Shopify has enjoyed an exceptional year to date, with a share price rise of 163% and a 48% revenue increase in Q2 that beat expectations and helped it surpass rival eBay in market capitalization. Technical analyst Jeff Parent says it has capacity for impressive further gains and comments that "it happens to be the best-performing stock on a percentage-gainer, on risk-adjusted -- any metric you look at."
UK Chancellor of the Exchequer Sajid Javid is considering waiting until after Brexit to name a successor for Bank of England Governor Mark Carney and to issue a budget, a source says. Carney is scheduled to leave in January.