1. Top European technology stocks shed nearly $6 billion of market value on Wednesday, with suppliers for Apple (NASDAQ:AAPL) the top fallers after the tech giant's revenue forecasts fell short of expectations.
While the worst hit were the handful with 20-70 percent direct exposure, the whole sector suffered as investors cautioned against frothy valuations, with the STOXX Europe 600 tech index (SX8P) trading well above its historical average.
2. U.S. home resales rose in June to their highest level in nearly 8-1/2 years, a sign of pent-up demand that should buoy the housing market recovery and likely keep the Federal Reserve on track to raise interest rates later this year.
The National Association of Realtors said on Wednesday existing home sales increased 3.2 percent to an annual rate of 5.49 million units, the highest level since February 2007.
3. The dollar pushed higher against a basket of other major currencies on Wednesday, as data showing that U.S. existing home sales hit the highest level since 2007 in June added to expectations for the Federal Reserve to raise interest rates in the coming months.
4. Coca-Cola Co (N:KO) on Wednesday reported higher-than-expected quarterly earnings and revenue as it raised prices and boosted sales volumes in North America, where it has struggled to grow as consumers ditch soda for healthier options.
Coke has called 2015 a transition year as it tries to cut costs and boost sales of its mainstay carbonated soft drinks.
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