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Stocks rally; Buffett bets; TripAdvisor takes flight

1. Global market overview: The recovery rally continues....

Posted: Feb 15, 2018 9:55 AM
Updated: Feb 15, 2018 9:55 AM

1. Global market overview: The recovery rally continues.

European markets gained about 1% in early trading and Asian markets posted sizable gains. The Hang Seng in Hong Kong shot up by 2%.

U.S. stock futures were also moving higher.

U.S. stocks have advanced in four consecutive trading sessions, recovering from a major drop last week. The Dow rose 1% on Wednesday, the S&P 500 added 1.3% and the Nasdaq gained 1.9%.

Meanwhile, the U.S. dollar continued to weaken on Thursday.

"The biggest single factor undermining the dollar this year has been the improvement in the global economy -- a more balanced economic recovery drags investment away from the U.S. and towards more interesting markets," said Kit Juckes, a market strategist at Societe Generale.

2. South Africa surge: South Africa's benchmark stock index surged 3.6% following the resignation of President Jacob Zuma.

A slew of corruption scandals had led the ruling African National Congress party to publicly demand Zuma's resignation.

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3. The Buffett effect: Shares in Teva Pharmaceutical added 8% in Tel Aviv after it was revealed that Warren Buffett's Berkshire Hathaway had taken a $358 million stake in the company.

The generic drug maker fills about one in six generic prescriptions in the U.S.

Berkshire Hathaway also dumped almost all its IBM stock over the last three months. Buffett's company sold 35 million shares, leaving it with about 2 million.

4. Massive tech deal?: Qualcomm said in a statement on Wednesday that its leadership had met with execs from Broadcom to discuss their takeover offer.

If completed, the deal would tie up two complementary chipmaking behemoths.

5. Market movers -- TripAdvisor, Cisco, Airbus: Shares in TripAdvisor and Cisco Systems are set to rally after both companies reported well-received earnings after the bell on Wednesday.

Airbus stock is surging by about 10% in Europe after the airplane manufacturer reported its full-year results.

6. Earnings: The key companies reporting earnings on Thursday include CBS and Shake Shack. Both will report after the closing bell.

Download CNN MoneyStream for up-to-the-minute market data and news

7. Coming this week:

Thursday - CBS earnings
Friday - Earnings from Coca-Cola, Campbell Soup, Kraft Heinz, Smucker, Newell Brands and Deere

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 796436

Reported Deaths: 15291
CountyConfirmedDeaths
Los Angeles2633336423
Riverside576951173
San Bernardino53121908
Orange525381176
San Diego45425767
Kern31647357
Fresno27944362
Sacramento21800393
Alameda20839395
Santa Clara20648300
San Joaquin20060434
Stanislaus16425342
Contra Costa16156202
Tulare15782257
Ventura12507146
Imperial11658317
San Francisco1090199
San Mateo9664144
Monterey964570
Santa Barbara8952111
Merced8803140
Kings754477
Sonoma7225120
Marin6620114
Solano623260
Madera442465
Placer352343
San Luis Obispo345327
Butte277640
Yolo277355
Santa Cruz22838
Sutter168610
Napa165213
San Benito131411
Yuba11337
El Dorado10784
Mendocino88718
Shasta75114
Lassen7360
Glenn5683
Tehama5294
Nevada5256
Colusa5226
Lake51611
Humboldt4906
Calaveras31414
Amador28716
Tuolumne2264
Inyo18714
Mono1652
Siskiyou1630
Del Norte1381
Mariposa752
Plumas500
Modoc250
Trinity150
Sierra60
Alpine20
Unassigned00
Chico
Broken Clouds
75° wxIcon
Hi: 87° Lo: 58°
Feels Like: 75°
Oroville
Clear
74° wxIcon
Hi: 87° Lo: 58°
Feels Like: 74°
Paradise
Broken Clouds
75° wxIcon
Hi: 79° Lo: 57°
Feels Like: 75°
Chester
49° wxIcon
Hi: 76° Lo: 46°
Feels Like: 49°
Red Bluff
Overcast
72° wxIcon
Hi: 85° Lo: 58°
Feels Like: 72°
Willows
Broken Clouds
75° wxIcon
Hi: 90° Lo: 55°
Feels Like: 75°
A weak disturbance passed over northern California early this morning, but as expected, it only brought some gusty wind, a few clouds, slightly cooler weather, and no rain. Much bigger changes to our weather will occur this weekend.
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