Asian stocks look set for a steady open Thursday after easing concerns about the economic growth outlook and a jump in energy shares bolstered U.S. stocks. Treasury yields advanced.

Futures rose in Japan and Australia and were steady in Hong Kong, while U.S. contracts edged up. The S&P 500 posted the biggest jump since August, narrowly avoiding a break of its 50-day moving average. The Nasdaq 100 climbed. A dollar gauge slipped.

House Democrats are working with the Biden administration to add bank account reporting requirements to their tax bill, a measure that could be used to pay for a modification of the cap on the federal deduction of state and local taxes.

Ways and Means Committee Chairman Richard Neal said his committee and Treasury officials are discussing boosting reporting requirements to the Internal Revenue Service to address tax cheats without burdening the middle class.

Oil drillers in the Gulf of Mexico are struggling to restore output more than two weeks after Hurricane Ida made landfall on the coast of Louisiana, with almost a third of production still idled.  

Operators have 36 platforms out of 560 shut, resulting in a loss of production of about half a million barrels of oil on Wednesday, according to the

All 12 regional branches of the Federal Reserve and the Board in Washington will require staff to be vaccinated against Covid-19.

Staff were informed in recent weeks of the decision, apart from those at the Minneapolis Fed which led the way when Neel Kashkari, its president,

Cisco Systems Inc., the biggest maker of computer networking equipment, gave an upbeat forecast for sales growth in the coming years, but disappointed analysts with its profit projections. 

Revenue will increase 5% to 7% over the next four fiscal years, the company told analysts and investors during a presentation Wednesday. That outpaced Wall Street projections. Earnings per share, excluding certain items, will rise at about the same rate -- and that’s where the company fell short. Analysts were looking for greater efficiency to help profit increase at a faster rate than sales.

Lucid Group rose on Wednesday following reports that a version of its debut sedan was recognized by the U.S. Environmental Protection Agency as having the longest range ever for an EV. 

The EPA awarded a version of Lucid’s battery-electric Air Dream Edition with an official rating of 520 miles of range on a single charge, Autoweek reported. The story was later removed from the website, but not before it was widely shared on Twitter.

California real estate executive Bruce Isackson was worried when the mastermind of a massive college admissions scam told him he was being audited by the IRS. So he invited William “Rick” Singer to his home for a confidential chat.

“I’m so paranoid” about the scheme Singer had lured him into, an agitated Isackson told the corrupt admissions strategist. “I don’t even like talking about it on the phone.”

U.S. state and local governments are growing more interested in investing in cryptocurrencies in their pension funds and accepting digital currencies as payments for taxes and services, according to S&P Global Ratings. 

On the investment side, the outsized returns that cryptocurrencies have generated during a period of low bond yields have made some pension plans more interested, according to S&P’s Sept. 15 note. Over the 12 months ended Aug. 20, Bitcoin and Ethereum have had respective returns of 326% and 745%, S&P analysts wrote. 

Stocks were near session highs as the concern that has weighed on investor sentiment about a slowdown in economic growth eased. Crude oil jump and bond yields rose.  

Energy shares led the S&P 500 into positive territory for only the second time in eight trading sessions. The tech-heavy Nasdaq 100 rose for the first time in more than a week. Treasuries fell after rallying Tuesday on a lower-than-forecast inflation report, while the dollar weakened against most major peers.

Anthem Inc. from enrolling new members next year because they didn’t spend the minimum amount required on medical benefits.

Private Medicare health plans are required to spend a certain threshold of their premium revenue on medical claims. The Centers for Medicare and Medicaid Services determined that the plans didn’t hit the required 85% level for three years in a row, prompting the sanctions, according to letters dated Sept. 2 and

Canadian Imperial Bank of Commerce Chief Financial Officer Hratch Panossian said the pandemic-era buildup in deposits won’t be vanishing any time soon.

The extra cash socked away in bank accounts by consumers flush with stimulus payments and unable to spend the money on activities such as travel and entertainment is likely to remain as long as it isn’t “extracted” by some reversal of government support measures, Panossian said at a

U.S. Securities and Exchange Commission awarded $110 million to a tipster whose information resulted in enforcement actions, bringing total payments under the agency’s whistle-blower program to more than $1 billion. 

The tipster’s award, the second-largest ever, includes $40 million from the SEC and $70 million from a related action brought by another agency, according to a

Inflation has spiked in Canada and Justin Trudeau’s rivals hope the prime minister will pay the price.

Affordability has been one of the top issues ahead of the snap election Trudeau called for Sept. 20. The opposition Conservative Party is trying to rack up political points over rising costs for housing, cars and gasoline -- accusing the incumbent Liberal government of stoking inflation with its debt-financed spending.

Mercury Retail, which controls Russia’s biggest chain of alcohol retailers, selected banks for an initial public offering planned for this year or early 2022.

The holding, which owns the Krasnoe & Beloe and Bristol discounters, has held preliminary meetings with investors, according to people familiar with the situation, who asked not to be identified because the information is not public. Mercury picked banks including JPMorgan, Bank of America Merrill Lynch, VTB, Sberbank and Renaissance Capital for the deal, they said. 

carmakers shutter plants and trim output guidance. The price slump is a big contrast with the booming performance earlier in the pandemic, which was driven by supply shortages and hopes of a stimulus-led economic recovery.

Fannie Mae and Freddie Mac are poised to get less stringent capital requirements, with their regulator planning a revamp of tough rules approved at the end of the Trump administration. 

In a Wednesday

Americans who rely on propane for heating are facing the most expensive winter in years as prices for the fuel jump to the highest since 2014.

Propane prices have risen almost 60% so far this year in Mont Belvieu, Texas, the main U.S. trading hub, amid strong overseas demand and tighter production. A rally in natural gas is adding momentum, since about 80% of America’s propane is a byproduct of gas processing.

Toronto-Dominion Bank’s top U.S. executive said the American economic recovery has hit some speed bumps over the past month and a half, with Covid-19’s delta variant spreading and businesses finding it difficult to hire qualified workers.

“We’ve seen sort of a pause and in some spaces or industries -- a little bit of a tapping on the brakes,” Greg Braca, Toronto-Dominion’s head of U.S. retail banking, said at a

Dutch Bros Inc. rose as much as 74% in its trading debut after exceeding goals for its initial public offering to raise $484 million.

Dutch Bros shares were up 64% to $37.76 at 1:27 p.m. in New York trading Wednesday, giving the company a market value of $6.2 billion.

European Central Bank Chief Economist Philip Lane said investors should look beyond the sheer volume of asset purchases in assessing the institution’s monetary policy, just days after officials decided to slow down buying in the fourth quarter. 

Asked whether the subdued medium-term inflation outlook wouldn’t warrant an increase rather than a withdrawal of stimulus, Lane said that “it’s not a good idea to identify the monetary policy stance with the volume of asset purchases.” 

Gunvor Group Ltd. is seeking a return to the bond market for the first time in eight years, in a test of investor confidence in the trading house after it bought back and canceled its first public debt offering in 2015.

The Geneva-headquartered oil and gas trader wants to sell a U.S.-dollar denominated five-year bond, led by banks including

Active money managers have clawed back some ground from their passive rivals thanks to this year’s red-hot IPO market.

Passive ownership of the U.S. stock market, based on shares outstanding, has slipped to 20.1% from 21.3% a year ago, according to strategists at Jefferies. That marks the first decline in passive’s share since the firm began tracking it six years ago.

U.S. Securities and Exchange Commission is considering more disclosures for complex derivative transactions like those that led to the collapse of Bill Hwang’s Archegos Capital Management earlier this year. 

SEC Chair Gary Gensler said in a Wednesday CNBC interview that the regulator wants to publish aggregate data on the securities that underlie investment firms’ swap positions. Gensler has already said the agency is considering rules to make hedge funds, family offices and other money managers disclose big derivative bets on stocks in quarterly SEC filings.