I Read The News So You Don’t Have To – Market News (Nov. 14, 2018)

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by ogordained

UNITED STATES

  • The budget deficit topped $100bn in October, up 60% on a year earlier. Spending outgrew revenue by $37bn
  • Small business loan rates are rising, potentially impacting the rate at which they hire new employees
    • however small business optimism remains high
  • Inflation is expected to grow but it should be offset by weak oil prices and a strong dollar

OTHER

  • Coffee and sugar are retreating again after a brief recovery
  • Weak oil prices have been a boon to shares of airlines
  • Data released today revealed Q3 GDP growth to have slowed for Germany
    • Car makers halted production -falling 9%- as they attempt to ensure their inventories have the proper certifications following to comply with stricter emissions rules
    • Optimistically though, this is just a short term hiccup and factory orders picked up in September
  • Wage growth in Australia is ticking up healthily
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CHINA

  • Tencent reports earnings today. Down 40% from their all-time high in January, Tencent reported their first profit decline in 13 years last quarter. We’ll see the impact on earnings of a ban on video game approvals that was supposed to end in September, but didn’t
  • The top trade negotiator is coming to America to resume trade talks in a renewed positive atmosphere
  • Overall credit expansion is slowing
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