Dow Futures

Dow Futures contract was up 60 points, or 0.2%, by 06:15 ET (11:15 GMT), the S&P 500 Futures contract was up 14 points, or 0.3%, and the Nasdaq 100 Futures contract was up 65 points, or 0.4%.

1. What’s moving markets? Charlie Munger’s death, dovish Fed statements, and pivot bets.
2. The third-quarter economic growth rate in the United States has been revised up to 5.2%.
3. General Motors suffers a $9.3 billion cost from labor agreements and anticipates a $10 billion buyback.
4. Dow futures rise; Fed’s Waller predicts more rate reduction
5. Ingka, the owner of IKEA stores, is convinced that price reduction will boost sales.
6. Foot Locker beats earnings expectations but reduces its annual outlook.
7. KKR will pay $2.7 billion for the remaining interest in insurer Global Atlantic.
8. Dow futures rise; Fed’s Waller predicts more rate reduction
9. Walmart relocates from China to India in search of lower-cost imports.
10. Dollar Tree’s earnings were down by $0.04, and revenue fell short of expectations.
11. Workday soars 9% after beating Q3 expectations and raising guide; Bernstein and BofA improve numbers
12. Richemont, the owner of Cartier, will not invest in Farfetch.
13. Sibanye will lose roughly 300 jobs at its US operations as palladium prices plummet.
14. Boeing has been awarded a $2.3 billion tanker contract by the United States Air Force.
15. Analysis-After Munger’s death, the Berkshire succession becomes clear.
16. Charlie Munger, Warren Buffett’s right-hand man at Berkshire Hathaway, died at the age of 99.
17. Following the Boeing MAX disasters, the US FAA strengthens airplane certification oversight.
18. Okta claims that after a cyber breach, hackers obtained data for all customer support users.
19. Berkshire Hathaway is suing the Haslams in a tussle over the Pilot valuation.
20. Hewlett Packard Enterprise exceeds quarterly profit expectations, but outlook falls short.
21. Amazon’s European second-hand business is worth more than $1 billion.
22. Textron will lay off 725 workers as part of a reorganization plan.
23. Commercial mortgage distress in the United States increased in November as a result of office difficulties -KBRA

GLOBAL NEWS 

1. Japan’s markets are lower at the close of trade, with the Nikkei 225 down 0.30%.
2. Australia’s stocks are higher at the close of trade, with the S&P/ASX 200 up 0.29%.
3. The Nifty 50 is up 1.04% at the closing of trade in India.
4. Following policy changes, China’s new housing prices are expected to rise this year: Reuters Survey
5. Toyota will sell an 8% interest in Denso; investors want more unwinding
6. Thai central bank keeps main interest rate at 2.50% but lowers growth forecast
7. European markets are mixed; German state inflation is considerably lower.
8. In November, Spain’s 12-month inflation rate fell to 3.2%.
9. The central bank of New Zealand defends the usage of Maori language.
10. German stocks outperform on hints of lowering inflation, while UK blue-chips lag.
11. Bailey, the Bank of England’s governor, has pledged to do “whatever it takes” to reduce inflation to 2%.
12. Vanguard Australia seeks mergers in order to expand in the local pension sector.
13. Saudi Arabia’s Kingdom Holding acquires a $450 million investment in Citigroup from Alwaleed bin Talal.
14. Asian equities are down as China’s caution restricts the Fed’s turnaround cheer.
15. The RBNZ maintains interest rates at 5.5% and believes more increases are still conceivable.
16. A BOJ policymaker believes it is premature to discuss ending negative interest rates.
17. Prosus reports a 118% increase in core earnings to $2 billion.
18. Sri Lanka has reached a debt restructuring agreement with creditor countries, according to a government source.
19. Nio of China collaborates with Geely on auto battery swapping.
20. Meituan, a Chinese food delivery company, has fallen due to a negative demand outlook.
21. South Korean exports will climb for the second month in a row, albeit at a slower pace, according to a Reuters poll.
22. Virgin Atlantic jet makes its first transatlantic flight using low-carbon gasoline.
23. Nomura of Japan will minimize risk assets for its wholesale business.
24. Daniel Kretinsky urges France’s Casino to sell outlets before receiving a bailout – Financial Times
25. Asia FX surges on Fed shift prospects; New Zealand dollar strengthened by hawkish RBNZ

Economic Data

Richmond Fed composite manufacturing index -5 in Nov vs +3 in October and Richmond Fed manufacturing shipments index -8 in Nov vs +9 in Oct.

Consumer Confidence index for Nov at 102.0 vs. consensus 101.0 and vs Oct 102.6; the present situation index 138.2 in Nov vs Oct revised 138.6 (previous 143.1) and the expectations index 77.8 in Nov vs Oct 72.7; 1-year consumer inflation rate expectations 5.7% in November.

U.S. home prices +0.6% in September from August and U.S. home prices +6.1% in 12 months through September.

World News

Economic Calendar

7:00 AM                   MBA Mortgage Applications Data

8:30 AM                   Gross Domestic Product (GDP) for Q3-2^nd estimate.

8:30 AM                   Consumer Spending for Q3, 2^nd estimate.

8:30 AM                   GDP Price Deflator for Q3, 2^nd estimate.

8:30 AM                   PCE Prices Preliminary for Q3

8:30 AM                   Core PCE Prices Prelim for Q3

8:30 AM                   Advance Goods Trade Balance for October

10:30 AM                 Weekly DOE Inventory Data

Other Key Events

Bank America European Tech Fieldtrip, 11/27-12/1 (virtual)

Piper Annual Healthcare Conference, 11/28-11/30, in NY

UBS Global Technology Conference, 11/27-11/30, in Scottsdale, AZ

China NBS Manufacturing PMI for November

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