I Read The News So You Don’t Have To – Market News (Nov. 05, 2018)

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by ogordained

Today marks the beginning of the five-day festival of Diwali, when Hindus worship Lakshmi, the goddess of wealth. It’s considered good fortune to buy gold

UNITED STATES

  • The jobs report released Friday beat expectations nicely (Actual 250 | Expected 200)
    • Women are entering the workforce at a record rate, outpacing men
    • Hourly wage growth exceeded 3% for the first time in 9 years
  • Stocks prices are starting to look attractive again with many pricing in close to zero earnings growth ahead
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OTHER

  • Full-time employment in Canada came in higher than expected (Actual 33.9| Expected 20)
    • The unemployment rate remains at multiyear lows
    • However, wage growth is slowing
  • US sanctions were lifted on Turkey, giving a boost to the lira
  • As of today, Venezuelans will be able to purchase the government’s mysterious cryptocurrency, the petro
  • Iranians protested, chanting the classic “death to America” when sanctions against its oil and banking industries were reimposed on Sunday
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CHINA

  • Outlook uncertain
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