Fed's Bowman says she is 'very comfortable' with November taper

European Economics Preview: Germany Industrial Output Data Due

Industrial production from Germany is due on Thursday, headlining a light day for the European economic news.

At 1.45 am ET, the Swiss State Secretariat for Economic Affairs releases unemployment data for September. The jobless rate is forecast to fall to 2.8 percent from 2.9 percent in August.

At 2.00 am ET, Destatis is scheduled to issue Germany’s industrial production for August. Economists expect output to decline 0.4 percent on month, reversing a 1 percent rise in July.

In the meantime, UK Halifax house price data is due for September.

At 2.45 am ET, foreign trade and current account figures are due from France.

At 3.00 am ET, the Czech Statistical Office releases industrial production and foreign trade data for August. Economists forecast production to grow 2.6 percent annually after rising 7 percent in July.

At 4.00 am ET, Italy’s Istat publishes retail sales for August. Sales had dropped 0.4 percent on month in July.

At 7.30 am ET, the European Central Bank publishes the account of monetary policy meeting of the Governing Council held on September 8 and 9.

CRISPR Therapeutics Shares Slip 6% On Data From CAR-T Cell Therapy

Shares of CRISPR Therapeutics AG (CRSP) are slipping nearly 6% on Wednesday morning after reporting initial data from its CAR-T therapy candidate.

CRSP is currently trading at $96.66, down $5.93 or 5.78%, on the Nasdaq.

CRISPR announced updated results from the company’s ongoing Phase 1 CARBON trial evaluating the safety and efficacy of CTX110, its wholly-owned allogeneic CAR-T cell therapy targeting CD19+ B-cell malignancies.

“We are excited to share positive data from our CARBON trial, which show that CTX110 could offer patients with large B-cell lymphomas an immediately available ‘off-the-shelf’ therapy with efficacy similar to autologous CAR-T and a differentiated safety profile,” said CEO Samarth Kulkarni.

“Based on these encouraging results, we are planning to expand CARBON into a potentially registrational trial in the first quarter of 2022.”

The company reported 58% overall response rate and 38% complete response rate in large B-cell lymphoma with a single dose of CTX110 at Dose Level 2 and above on an intent-to-treat basis.

Gold Futures Settle At One-month High

Gold futures settled sharply higher on Wednesday as the dollar lost some ground and Treasury yields dropped a bit after data showed consumer prices in the U.S. saw a sharper than expected acceleration in September.

The dollar index drifted down to 94.05, losing more than 0.5%. The benchmark U.S. 10-year Treasury yields eased from their June highs.

Gold futures for December ended up by $35.40 or about 2% at $1,794.70 an ounce, the highest settlement in almost a month.

Silver futures for December closed higher by $0.656 at $23.170 an ounce, while Copper futures for December settled at $4.5160 per pound, up $0.1905 from the previous close.

Data from the Labor Department showed the consumer price index climbed by 0.4% in September after rising by 0.3% in August. Economists had been expecting another 0.3% increase.

Excluding higher prices for food and energy, core consumer prices edged up by 0.2% in September after inching up by 0.1% in August. The uptick in core prices matched economist estimates.

The report also showed the annual rate of growth in consumer prices accelerated to 5.4% in September from 5.3% in August, while the annual rate of growth in core prices was unchanged at 4%.

Xiaobai Maimai Touches Year-to-date High

Xiaobai Maimai Inc. (HX) shares are rising on Wednesday morning trade, continuing a bullish trend since the end of September, and touched a year-to-date high. There were no corporate announcements on the day to impact the stock movement.

Currently, shares are at $4.23, up 10.73 percent from the previous close of $3.82 on a volume of 2,429,008. For the 52-week period, the shares have traded in a range of $1.23-$4.72 on average volume of 182,258.

Opinion | Robocalls Are Not Even the Worst of It

By Gail Collins

Opinion Columnist

GrowGeneration Shares Slip 10% As It Terminates HGS Hydro Acquisition

Shares of GrowGeneration Corp. (GRWG) slipped over 10% on Wednesday morning after the chain of specialty hydroponic and organic garden centers said it has mutually terminated previously signed deal to acquire HGS Hydro. Following the termination of the planned acquisition, the company has revised down its revenue guidance down for the current fiscal year.

GRWG is currently trading at $21.22, down $2.53 or 10.65%, on the Nasdaq.

GrowGeneration lowered its sales guidance to $440 million to $452 million, compared with its previous guidance of $455 to $475 million. It also sees adjusted EBITDA for the full year of $47 million to $51 million.

Fed's Bowman says she is 'very comfortable' with November taper

Oct 13 (Reuters) – Federal Reserve Governor Michelle Bowman on Wednesday said she would be “very comfortable” with beginning to withdraw some of the U.S. central bank’s crisis-era support for the economy as soon as next month, citing her worries about inflation and asset bubbles.

“I am mindful that the remaining benefits to the economy from our asset purchases are now likely outweighed by the potential costs,” Bowman said in remarks prepared for delivery to South Dakota State University.