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Meanwhile, European markets are in recovery mode after falling by 2% to 3% on Tuesday.

News that will German Chancellor Angela Merkel had struck a deal with her center-left rivals to form a coalition government could be supporting market sentiment. The breakthrough follows four months of uncertainty.

Asian markets ended with mixed results. The Shanghai Composite dropped by 1.8% on Wednesday. the item’s lost as much as 8% since a recent peak in late January.

On Tuesday, after a gut-wrenching drop inside the morning, U.S. markets staged a big recovery. The Dow Jones industrial average closed which has a 2.3% gain, while the S&P 500 rose 1.7% along with the Nasdaq surged by 2.1%.

2. Wynn steps down: Steve Wynn has stepped down as CEO of Wynn Resorts after allegations of sexual misconduct piled pressure on the billionaire casino mogul along with sent the company’s stock tumbling.

Wynn Resorts (WYNN) said the item has appointed Matt Maddox, who currently serves as the company’s president, as its brand-new CEO with immediate effect.

Wynn, 76, has denied the accusations of misconduct, which gained widespread attention in late January after an investigative report by The Wall Street Journal detailed numerous allegations against him, citing dozens of sources.

however investors were rattled by the allegations. Wynn Resorts shares have plunged more than 18% since the Journal report. The stock was down about 1.5% in premarket trading.

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3. Make the item snappy!: Snapchat’s parent company Snap (SNAP) posted quarterly sales along with user growth that will beat Wall Street’s estimates on Tuesday afternoon.

The stock soared more than 20% in extended trading following the results. If the gains hold when markets open Wednesday, the stock could top its IPO cost of $17 for the very first time since July.

Snap’s sales climbed to $286 million inside the fourth quarter, up 72% via the same period a year earlier, as the company transitions to an automated ad sales auction similar to Google (GOOGL) along with Facebook (FB).

4. Earnings watch: Hasbro (HAS), Humana (HUM) along with Michael Kors (KORS) are set to Discharge earnings before the open.

Then 21st Century Fox (FOXA), Allstate (ALL), Tesla (TSLA) along with Yum China (YUMC) are releasing earnings after the close.

Shares in Chipotle (CMG) along with Disney (DIS) are generating big premarket moves after the companies released quarterly results on Tuesday. Chipotle stock will be dropping by about 8% while Disney will be rising by about 3%.

Shares in SoftBank surged by nearly 4% in Tokyo after the tech group released its latest earnings.

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5. Coming This specific week:
Wednesday — Earnings via 21st Century Fox (FOXA) along with Tesla (TSLA)
Thursday — Earnings via News Corp (NWS), Viacom (VIA), Twitter (TWTR), Kellogg (K), Thomson Reuters (TRI), Tyson Foods (TSN), Expedia (EXPE) along with Yum! Brands (YUM)
Friday — PyeongChang 2018 Winter Olympics begins; Apple’s HomePod goes on sale

sy88pgw (London) First published February 7, 2018: 5:06 AM ET

Topsy-turvy stocks; Wynn steps down; Snap surprise

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