UNITED STATES
- The ISM Manufacturing Purchasing Managers Index for October shows activity to be slowing slightly
- New orders and export orders both slowed
- A strong dollar is making our exports more expensive
- New orders and export orders both slowed
- Auto sales improved a smidge but rising interest rates may be a drag on future sales
- Productivity growth remains below 2% but is slowly rising
- Gains in wage growth are being offset by rising inflation
- However, oil prices are moving lower - dragging inflation expectations down with them
- Stock futures leaped at the potential for a new trade deal with China, signaling a strong start for Friday
- The Federal Reserve Banks total assets are down $316bn since last year
OTHER
- Slowing iPhone sales sparked a selloff in Apple, dragging the stock down more than 6% and dragging the index lower with it
- Semiconductor and Homebuilder shares made big moves up after being hammered in October
- Gold is up big after the US dollar dipped slightly
- UK factory activity is slowing
- Canada’s monthly GDP growth was slightly higher than expected (Actual 2.5% | Expected 2.4%)
- However, manufacturing growth is slowing
- Iran will lose billions with the stroke of a pen on Sunday - The US will reimpose sanctions on their oil industry on November 4th.
- The rial is already down 72% on the year
CHINA
- The yuan is SOARING on hopes of a trade deal with the US
- Fujian Jinhua, a Chinese state-owned company, was charged by the US Department of Justice with the theft of secrets from Micron.
Submitted November 02, 2018 at 07:37AM by ogordained https://ift.tt/2DiOnAe
