I Read The News So You Don’t Have To – Market News (Nov. 09, 2018)

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by ogordained

UNITED STATES

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OTHER

  • Mining activity in South Africa declined for the year
    • and output of gold sank to a 4 year low
  • Oil continued its descent and officially entered bear market territory
  • New houses are being built in Canada as home prices fall
  • Swiss bank UBS is being sued by America’s Department of Justice for allegedly misleading investors over the quality of residential mortgage-backed securities before the financial crisis
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CHINA

  • Consumer inflation moderated to meet expectations (Actual 2.5% | Expected 2.5%)
  • Single’s Day is on Sunday 11/11- a Chinese version of Valentine’s day, but for single people that features Black Friday style shopping mania – has seen daily sales records for Alibaba every year. They had $25bn in sales on Singles Day in 2017
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