I Read The News So You Don’t Have To – Market News (Nov. 06, 2018)

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by ogordained

UNITED STATES

  • The ISM Non-Manufacturing index reveals continued economic strength
  • Jobs in professional services, health, and construction grew rapidly over the last 12 months
  • New businesses are forming almost as fast as new jobs are being created
  • Worry over new antitrust rules aimed at tech companies, coupled with worries over weak iPhone sales sent Applestock down

On the Ballot Today:

  • San Francisco will vote on taxing big companies with HQ’s there to help combat homelessness.
  • North Dakota, Missouri and Oklahoma will vote on loosening cannabis laws.
  • Idaho, Nebraska, Utah and Montana will vote to expand medicaid.
  • Washington will vote on a carbon tax
  • Florida may restore voting rights to felons
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OTHER

  • Berkshire Hathaway has held over $100bn in cash for 5 straight quarter
  • Stocks exposed to the risk of higher wage costs eating into their profit margins have oddly outperformed
  • The Turkish lira continues its recovery
  • Household spending in Japan was much weaker than expected (Actual -4.5% | Expected -1.8%)
  • A report commissioned by Facebook found the site had been used to incite violence in Myanmar and helped enable human-rights abuses
  • Spotify said it would buy back $1bn of its shares over the next 29 months.
  • Under Armour says it stopped executives from expensing visits to strip clubs in February
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CHINA

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