Evening Headlines
Bloomberg:
- China Turns to Share Buybacks as Latest Weapon to Rescue Market.
- China's Market Rescue Blurs Line Between Private and State Firms.
- China Regulator to Propose 50% Cut to Car Purchase Tax.
- Australian Bank Earnings Expected to Be the Worst in a Decade.
- The Global Iron Ore Market Has a Junk Problem.
- Asia Stocks Set to Drop on Fresh Trade Strife. Asian stocks looked set for declines Tuesday after a fall in their U.S. counterparts on a report the Trump administration was considering extending tariffs to all Chinese imports. The dollar held gains. Futures on Japanese equity benchmarks pointed lower, while they were little changed in China and Hong Kong as the S&P 500 Index pared a drop in the final 15 minutes of trading. Australian stocks declined at the open. The Dow Jones Industrial Average slidines of the record-long bull market. more than 500 points at its worst, dipping into a correction, while the Nasdaq 100 Index tumbled to the lowest level since May. The S&P 500 and Nasdaq indexes are on track for the steepest monthly decline of the record-long bull market. Futures on the Nikkei 225 Stock Average fell 0.5 percent in Singapore. Australia’s S&P/ASX 200 Index lost 0.4 percent. Hong Kong’s Hang Seng Index futures were little changed as were the FTSE China A50 contracts. S&P 500 futures ticked 0.1 percent lower.
- Five Things You Need to Know to Start Your Day.
- How Big Tech Will Be Hit by U.K.’s New Digital Tax.
- Investors Flee Materials ETF on Sluggish Earnings Expectations.
- College Kids Not Endorsing Socialism, But They’re Open to It.
- Why Are Drugs Cheaper in Europe?
- Americans Are Sticking With Their Old Phones.
- U.S. to Restrict Chinese Chip Maker From Doing Business With American Firms.
- U.K. to Roll Out First-of-Its-Kind Digital Tax.
- Military to Increase Southern Border Deployment to 5,000.
- A Weakened Merkel Steps Down as Party Chief, Bolstering Rivals.
- How to Get Political Ads Off Your Facebook(FB) Feed.
CNBC:
- Amazon(AMZN) shares are cratering — down 6% today, down 23% in the past month.
- Facebook(FB) suddenly banned ads for start-up that gives users an alternative to a Facebook product.
- Here's what could turn this stock market sell-off around, according to investors.
- Traders are making a boatload betting against once-beloved FAANG stocks.
- The Fed may have to make an important adjustment to the way it's raising rates.
- US reportedly planning tariffs on remaining $257 billion in Chinese goods if Trump-Xi talks fail.
- Retail analyst: Holiday season without Toys R Us is 'good news' for certain retailers.
- Stocks making the biggest moves after hours: Akamai, Cognex and more.
Zero Hedge:
- Beijing, Brazil, Bitcoin, Bonds, & Bullion Drop As FANG Bloodbath Batters Stocks.
- Chinese Military Scientists Have Infiltrated "Five Eyes" Western Universities.
- "They All Look The Same" - Hillary Cracks Racist Joke After Booker/Holder Mix-Up.
- Disaster Awaits: National Debt Will Be 6 Times The Size Of The Economy.
- Stocks, Yuan Tumble On Report US To Announce Tariffs On All China Imports If Trump-Xi Meeting Fails.
- Media Waging 'Psychological Warfare' Against Trump With Warnings Of Looming 'Staff Exodus'.
Night Trading
Earnings of Note
Company/Estimate
Before the Open:
- Asian equity indices are -1.0% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 92.75 +1.5 basis points.
- Asia Pacific Sovereign CDS Index 10.5 +.5 basis point.
- Bloomberg Emerging Markets Currency Index 66.41 +.03%.
- FTSE 100 futures n/a.
- S&P 500 futures +.02%.
- NASDAQ 100 futures -.04%.
Earnings of Note
Company/Estimate
Before the Open:
- (AET)/2.81
- (AGCO)/.82
- (AMT)/1.66
- (BP)/.14
- (EAT)/.45
- (KO)/.55
- (CTSH)/1.13
- (CMI)/3.76
- (FLIR)/.56
- (GE)/.20
- (HCA)/1.91
- (HMC)/81.23
- (LL)/.17
- (LYB)/2.68
- (MA)/1.68
- (BTU)/1.06
- (PFE)/.75
- (SNE)/104.14
- (VMC)/1.40
- (WLH)/.66
- (WH)/.86
After the Close:
- (DDD)/.03
- (AMGN)/3.45
- (APC)/.86
- (BIDU)/2.56
- (CAKE)/.58
- (EBAY)/.54
- (EA)/.58
- (FB)/1.44
- (HLF)/.66
- (H)/.25
- (MXIM)/.75
- (MGM)/.21
- (NCR)/.54
- (OI)/.75
- (SKYW)/1.40
- (YUMC)/.46
9:00 am EST
- The S&P CoreLogic CS 20-City MoM for August is estimated to rise +.1% versus a +.09% gain in September.
- The Conference Board Consumer Confidence Index for October is estimated to fall to 135.9 versus 138.4 in September.
- None of note
Other Potential Market Movers
- The Eurozone CPI/Industrial Production, GDP reports, weekly US retail sales reports, (KEY) investor meeting and the (AAPL) special event could also impact trading today.
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