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Stock market news: Opening bell, November 15, 2018

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Theresa May
British
Prime Minister Theresa May in London on
Wednesday.

Matt
Dunham/AP


Here is what you need to know.


The British pound is under pressure
.
The pound
extended declines against the dollar Thursday, trading down 1.5%,
after a key cabinet member joined Brexit Secretary Dominic Raab
in resigning in protest of Theresa May’s plan to leave the
European Union.


Bitcoin tumbles to its lowest level in over a year
.

The world’s largest cryptocurrency fell more than 13% Wednesday
to as low as $5,3222 a coin. On Thursday, bitcoin cash, the
fourth-largest cryptocurrency by market cap, is set to experience
a hard fork amid a fight that is playing out between its two
biggest proponents, Craig Wright and Roger Ver.

Warren Buffett’s
Berkshire Hathaway takes a new stake in JPMorgan
.

The firm bought nearly $4 billion worth of the bank’s shares and
increased its holdings of other financial companies, according to
a third-quarter regulatory filing.


Apple slides into a bear market
.
The stock price of
the world’s most valuable company has dropped near $187, more
than 20% from its October peak, amid analyst downgrades and
concerns about weaker demand for iPhones.


Uber’s losses are widening and its growth is
slowing
.
While revenue is still climbing steadily,
the third-quarter increase of 38% was down from a 63%
year-over-year jump in the second quarter, according to data
released to select media outlets.


Traders haven’t been this worried about tech stocks for 14 years,
and it’s a negative signal
.
The spread between the
Cboe Nasdaq Volatility Index, or VXN, which tracks the tech-heavy
Nasdaq 100, and its S&P 500 counterpart, known as the VIX, is
its widest since 2004.


Levi’s is reportedly planning to go public
.
The
denim apparel maker aims to make its initial public offering in
the first quarter of 2019 at a valuation of about $5 billion,
according to CNBC.

US
economic data is on deck
.
Initial jobless claims,
retail sales, Empire State manufacturing, and the Philly Fed
manufacturing survey all cross at 8:30 a.m. ET.

Earnings
reporting continues
.
Ahead of the market open,
Walmart reported better-than-expected profits but missed on
revenue. Nordstrom, Nvidia, and Sonos report after the closing
bell.

Stock futures
are higher
.
Dow futures are up 102 points, or 0.4%,
while S&P 500 futures are up 0.3%.

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