I Read The News So You Don't Have To - Market News (Nov. 07, 2018)

UNITED STATES

Job openings missed expectations but remain near record highs (Actual 7,009 | Expected 7,085)
- High demand for health care workers is a big cause for this
Inventory of unsold homes is at its highest rate since 2011
Democrats took control of the House while Republicans gained a few seats in the Senate to keep their majority
Futures point to a triple-digit gain for the DOW
- historically stocks have performed well during periods of political gridlock
The Fed starts a two-day meeting with a decision on interest rates due by Thursday

German investigators raided the Munich office of BlackRock. Authorities are believed to be looking into a tax-avoidance scheme known as cum-ex
German manufacturing orders are down but not as much as expected (Actual -2.2% | Expected -2.8%)
Rising oil prices helped two controversial state-run oil giants.
- Russia's Rosneft nearly tripled their profits while Brazil's Petrobras saw a 25-fold rise in net profits
  - However, crude oil and gasoline have been down sharply as of late
The Russian stock market is recovering after a sharp sell off
Unmployment rates in New Zealand were a nice surprise (Actual 3.9% | Expected 4.4%)
- Wage growth was also better than expected (Actual 1.4% | Expected 0.8%)
Australian construction activity has seen a steep slowdown
Global business activity PMI points to a global slowdown in GDP growth

Submitted November 07, 2018 at 07:36AM by ogordained https://ift.tt/2SUgaLW