Positive, europes are slightly in the red and we are watching crude and gasoline on news of the pipeline explosion yesterday in alabama. The first trading day of the month after that red october, more earnings. The election, the jobs number and the fed meeting all on tap for the markets. It is one week to go until election day. New polls and investigations are moving the markets every day, including today. Well have the latest. And a spinoff for kfc and taco bell. Yum and yum china begin trading as separate companies this morning. First up, though, a lot for investors to digest into november as we head into the first trading day of the month. A jobs report is coming on friday, the election is next week. All three major indices were in the red for october, posting their worst performance since january, although to be any worse than january would have required a lot more selling, jim. Look, theres theres just a major change underneath. What we saw were a lot of health care companies, big
Indicatere above 50 better conditions on the factory floor, below 50 indicates contraction or more pessimism. This is the third consecutive officialve 50 for the manufacturing pmi following seven consecutive months in negative territory below 50. What does this mean . In february and march, a bit of stabilization. Up in a bump manufacturing and sentiment as the government talked up the economy. Getting evidence that there has been a stabilization in manufacturing. 50. 1, that is not a robust number, but it is staying relatively stable from the last couple of months. , we are also looking at Services Come in below expectations. Pmi,is nonmanufacturing an index that has never been in negative territory below 50, but is trending lower. The previous month was 53. 5, so inittle bit of softening services, indicating property, telecom, banking, everything except traditional manufacturing , which tends to be more bullish in this new economy. Nonmanufacturing pmi. Rishaad 30 minutes to go to th
Moment of truth. Earnings season is underway and ek peckations have come down. Are expeck tags too low and they feel the next leg of this rally. For earnings i think they are too low. Earnings per share. Thats what obviously is market is based on. But what i think is probably too high is the expectations for revenue. I think it comes county this this once again. Earnings growth is what it is. It can be manufactured, engineered, but you cant make up Revenue Growth. That divide between eps and Revenue Growth continues to widen out. Market has not cared about it nor should it given where rates are, which has been tims argument. But at some point, you need commensurate Revenue Growth. What have companies have guided conservatively and no one cares about quarter. So, is this the time when the market gives ceos and maybe its time to kitchen sink it a lilt bit or to weigh on being more conservative in the shortterm, but we see some things changing in our Business Model. I dont know. The quest
Approving the Hong Kongshenzhen connect. Let us know what you think of our top stories. Follow me at rishaadtv, and use trendingbusiness. Straight to the market action, a flavor of what is going on, headwinds from new york. We have tokyo seemingly shrugging that off. Toid this comes down dollaryen. In an ominous position when you see money flowing out of the dollar into the japanese yen. Intervention from the finance ministry, they push the button on intervention. Down,s next, on the way two pieces of important data. The jobless rate in new zealand, better than expected, 5. 1 unemployment. Participation rate on the way up as well. Very healthy job market. Have a look at japan. , we will talk more about the currency in a moment. Up 30ilippines open minutes from now, revised lower its gdp for the First Quarter to 6. 8 . I will be back with more. Rishaad china loosening that grip on domestic stock markets while lifting restrictions on assets. The shenzhenhong kong stock connect will remov
A minnesota mother whose 11 year old son went missing 27 years ago says her family is now grieving. Grieving. Patty wetterling released a statement monday saying shes not ready to speak to the media yet after police found her sons remains. Remains. A masked gunman abducted Jacob Wetterling in 1989. His remains were positively ident weekend in minnesota. Minnesota. Police have a person of interest in custody right now on child pornography charges. Fbi officers interviewed dan heinrich at the time of the abduction but were never able to charge him. Him. On saturday heinrich led officials to jacobs remains. The developments are a direct result of months long plea deal negotiations between henrichs lawyers and federal prosecutors. They say such a deal is unpredecented and would only happen with the support of the wetterling agreement are still unclear. Nearly three decades after Jacob Wetterlings disappearance the case has played a major role in shaping. Laws. Cbs 2 News Reporter Stephanie