Big waves open floodgates

Here is what you need to know.

Trump made a huge move that could blow up Obamacare. President Donald Trump announced Thursday evening that he will end the Obamacare cost-sharing reduction payments, a move that could wreck the law’s individual insurance exchanges and send healthcare costs soaring for many Americans.

China’s trade surplus narrows. Imports grew by 18.7% year-over-year in US dollar terms while exports climbed 8.1%, causing China’s trade surplus to narrow to $28.47 billion in September from $41.99 billion in August.

Stock traders should fear Friday the 13th — especially in October. The S&P 500 has fallen 0.54%, on average, during the 12 stock market sessions that have fallen on Friday the 13th in October, data compiled by LPL Financial’s Ryan Detrick shows.

Snap hits a three month high. Shares rallied 3.35% to $16.51 on Thursday, making for their best close since July 10.

Samsung’s CEO steps down. The surprising resignation of Samsung Chairman and CEO Kwon Oh-hyun comes at a time when he was expected to take on a bigger role following the jailing of group scion Jay Y. Lee, Reuters says.

Kobe Steel will pay back its customers. The Japanese steelmaker said on Friday that it would pay back customers who were impacted by its fabrication of data for its products, Reuters reports.

A star stock picker at Fidelity has reportedly been fired. Gavin Baker, a star stock picker at Fidelity, was reportedly fired after he allegedly sexually harassed a junior female staffer, the Wall Street Journal says, citing an attorney for the staffer and people familiar with the situation.

Stock markets around the world trade mixed. Japan’s Nikkei (+0.96%) led the gains in Asia and Britain’s FTSE (-0.18%) trails in Europe. The S&P 500 is set to …read more

Source:: Business Insider

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