Dow Futures

Dow Futures contract was up 55 points, or 0.2%, at 06:25 ET (10:25 GMT), the S&P 500 Futures contract was up 90 points, or 0.2%, and the Nasdaq 100 Futures contract was up 0 points, or 0.0%.

1. What’s moving markets: Gap’s holiday season outlook, Alibaba’s fall in Hong Kong
2. Dow futures are rising; a favorable week is forecast due to peak rate hopes.
3. Treasury rates continue to fall as investors focus on weaker inflation data and Fed policy.
4. Blackstone and Macquarie both deny the ASPI sale story and guarantee commitment.
5. Boeing’s Air Force One aircraft may face further delays as costs climb.
6. Gap reports third-quarter earnings that outperform expectations, but delivers tepid holiday period guidance.
7. Expected Fed delay draws large inflows into US equities funds.
8. Treasuries experience their first weekly outflow since February as investors purchase stocks.
9. According to a corporate insider, Amazon expects to export $20 billion from India by 2025.
10. Moatable Inc. reports higher third-quarter earnings and profitability.
11. Stocks and bonds are in a good mood, but oil is down after a steep drop.
12. Lassonde Industries declares a dividend of CA$0.50 per share.
13. Bird Construction is planning to increase dividends in response to significant earnings growth.
14. North America and Europe drove the 10.7% increase in Volkswagen October deliveries.
15. According to Woodward, Earnings for the fourth quarter were higher than expected, but shares fell after hours.
16. Apple’s stock performance has stalled as competitors in technology improve.
17. As Evercore ISI shuffles travel-stock ratings, Airbnb falls and Expedia rises.
18. Darling Ingredients COO NA purchases $500k in inventory.
19. Ross Stores’ earnings were $0.11 more than expected, and revenue exceeded expectations.
20. Applied Materials’ earnings were $0.13 higher than expected, and revenue exceeded expectations.

GLOBAL NEWS 

1. Japan’s markets are higher at the close of trade, with the Nikkei 225 up 0.46%.
2. At the close of business in Australia, the S&P/ASX 200 was down 0.13%.
3. At the closing of trading, Indian markets were lower; the Nifty 50 was down 0.17%.
4. European equities rise ahead of Lagarde’s speech and the release of final eurozone CPI data.
5. According to one source, a German court verdict could have a negative impact on economic growth next year.
6. Samsung CEO denies wrongdoing as South Korean prosecutors seek prison time for the 2015 deal.
7. The UK Sustainable Aviation Fuel Initiative has been awarded a £9 million grant.
8. Aareal Bank AG will be delisted from the Frankfurt Stock Exchange.
9. Mutares will join the MSCI Germany Small Cap Index and is looking to expand.
10. Following the failure of the deal, Amigo Holdings is considering delisting.
11. Profits at Nationwide Building Society have increased due to increasing interest rates.
12. Borrowers in Canada gain when fixed rates fall amid the economic downturn.
13. China expresses concern to the United States about export limits, sanctions, and tariffs.
14. Sources say China has asked some institutions to limit interbank lending costs.
15. Volvo Cars shares hit new lows as Geely reduces its stake.
16. Nordea Bank has completed its share buyback and now owns over 14 million shares.
17. With smart chipmaker agreements, Nokia wins market share in India and Europe.
18. European stock futures rise; final eurozone CPI statistics are due.
19. Asia FX is subdued, with the dollar set for a weekly loss on Fed rate cut bets.
20. Next week, China is expected to maintain key lending rates steady.
21. Leonardo sells 6.9% of its DRS unit in the United States for $17.75 a share.
22. Alibaba’s reversal on cloud business spin-off reduces its market value by $20 billion.
23. Panasonic signs agreement with Apollo affiliate; shares rise 7.3%
24. Chinese technology stocks fall after Alibaba warns about the impact of US chip tariffs.

Economic Data

·     Weekly Jobless Claims climbed to 231K from 218K prior and above consensus 220K as the 4-week moving average climbed to 220,250 from 212,500 prior week and continued claims climbed to 1.865M from 1.833M prior week. The U.S insured unemployment rate climbed to 1.3%.

·     Import prices for Oct declined (-0.8%) – first drop in 4 months – and below the (-0.3%) estimate and vs Sept +0.4%; Oct petroleum import prices (-6.5%) vs Sept +6.8%; Oct export prices fell (-1.1%) vs. consensus (-0.5%) and vs Sept +0.5% (prev +0.7%). U.S. Oct y/y import prices -2.0%, export prices -4.9%.

·     November Philadelphia Fed factory index -5.9 vs. est. -8.0 as prices paid improved to 14.8 vs 23.1: new orders index down at 1.3 vs 4.4 prior, Fed future index at -2.1 vs 9.2, prices-received at 14.8 vs 14.6 and the employment index at 0.8 vs 4.0.

·     October Industrial Output fell (-0.6%) – lowest since December – and more than the (-0.3%) consensus and down from Sept +0.1%; Oct mining output +0.4% and utilities output -1.6% (sept -0.6%). Oct Capacity utilization rate 78.9% – lowest since Oct 2021 – and below consensus 79.4% and down from Sept 79.5%. U.S. Oct industrial output ex cars/parts -0.1% vs Sept +0.1%.

·     NAHB Housing market index tumbles 6 points to 34, (4^th straight month of declines) lowest since December and below consensus and prior reading of 40 October as current single-family home sales 40 versus 46 in October (previous 46) and index of home sales over next six months 39 versus 44 in October (previous 44).

World News

U.S. Treasury capital flows (TIC) report showed a net -$67.4B in outflows in September after foreigners bought $131B (was $134.4B) in August. That was the first drop since the -$165.9BB plunge in May. Most of the weakness was registered in private holdings which were down -$62.1B, while the official account declined -$5.3B. There was a net -$1.7B decline in long-term assets in September after the $62.2B (was $63.5B) prior increase. China’s U.S. Treasury securities holdings $778B in Sept vs 805B in August.

Eurozone consumer inflation in the 20 countries using the euro decelerated to 2.9% year-on-year in October from 4.3% in September after prices rose 0.1% month-on-month.

Money-market fund assets rose to an all-time high for the second-straight week as interest rates north of 5% and volatility in fixed-income markets drove investors to havens.

Economic Calendar

 8:30 AM ET                  Housing Starts M/M for October

 8:30 AM ET                  Building Permits M/M for October

8:45 AM ET                  Fed’s Collins Delivers Welcoming Remarks

 9:45 AM ET                  Fed’s Goolsbee Speaks on Economy

10:00 AM ET                Fed’s Daly Speaks in Frankfurt

1:00 PM ET                   Baker Hughes Weekly rig count data

Other Key Events

Deutsche Bank Gaming, Lodging, Leisure Conference, 11/16-11/17, in Miami, FL

Oppenheimer Internet Bus Tour (virtual), 11/16-11/20

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