I Read The News So You Don’t Have To – Market News (Nov. 20, 2018)

by ogordained

UNITED STATES

  • Buckle up bitches, futures are indicating a rough morning ahead
  • Retailers are reporting before the bell today: Target, Best Buy, Lowes, & TJ Maxx
  • The US stock market is no longer outperforming the rest of the world
  • The prevalence of Zombie Firms – firms whose debt exceeds their operating profits – continues to rise
  • Despite high corporate debt levels, investment hasn’t seen much of a boost
  • After a brutal stretch, homebuilder sentiment is optimistic again
    • Homebuilder Optimism Index (Actual 67 | Expected 60)
    • …despite the fact that the number of prospective new buyers continue to fall

OTHER

  • Eurozone construction activity continues to increase
  • EU foreign ministers are working on new sanctions on Iran, after revelations of two alleged Iranian assassination plots, one in Denmark and one in France
  • Low oil prices are helping fuel a recovery in India
    • After a long fall, the rupee is back to where it was in mid-August

CHINA

  • Chinese steel rebar futures are falling
  • Private sector bond defaults are picking up

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