I Read The News So You Don’t Have To – Market News (Nov. 01, 2018)

by ogordained

UNITED STATES

  • Job growth continues to exceed expectations as shown by the ADP Private Employment report (Actual 227 | Expected 187)
  • Cost of Employment is going up, a sign of wage growth
    • The service sector is outpacing goods-producing sectors
    • And despite a wage increase, teachers still lag behind the national growth trend
  • The ISM Manufacturing Index will be reported today at 10:00 am – expect a slight slowing for the month of October
  • Crude oil imports are at multi-year lows
  • Profit margins continue to increase for S&P500 firms
  • Amazon’s minimum-wage rise goes into effect today for 250,000 current workers and 100,000 seasonal ones.

OTHER

  • The World Bank’s “Doing Business” report, ranking countries on the ease of commerce, saw a rise for BrazilRussiaIndia and especially China
  • The pound rose on news that a Brexit deal would be reached by Nov. 21
  • German retail sales seriously missed expectations (Actual -2.6% | Expected 1.0%)
  • Chile’s manufacturing activity was a big let down (Actual -5.4% | Expected 1.8%)
  • Stockpiles of gasoline have dwindled over the last few weeks

CHINA

  • The manufacturing Purchasing Managers Index shows the slightest improvement over last month
  • A slowdown in housing sales has combined with a slowdown in retail sales

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