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Stock market news: Opening bell, November 2, 2018



Kimchi Festival in Seoul, South Korea
make traditional Korean side dish kimchi, or fermented cabbage,
during the Seoul Kimchi Festival in central Seoul, South


Here is what you need to know.

Trump is reportedly ready to back down in his trade war with
President Donald Trump has asked his
cabinet to begin drafting potential terms of a trade agreement
with China in the hopes of securing an agreement with Chinese
President Xi Jinping at the G20 summit in Argentina next month,
Bloomberg reports. 

Global markets are
in rally mode
Hong Kong’s Hang Seng gained
more than 4% overnight, and Germany’s DAX is higher by 1.35%. The
S&P 500 is set to open up 0.66% near 2,758.

It’s jobs day in America. The US economy is
expected to have added 200,000 nonfarm jobs as the unemployment
rate held at 3.7%, according to economists surveyed by

Crude oil is nearing a bear market
West Texas
Intermediate crude oil has plunged more than 17% from its October
3 high to $63.65 a barrel. A drop below $61.57 would put it in
bear-market territory — down at least 20% from its recent

Goldman Sachs has a money-making strategy for earnings
The bank devloped a strategy that
returned 107% in just seven days — here’s what it is and how you
can replicate its success. 

Apple’s iPhone sales underwhelm
The tech giant
reported earnings and revenue that topped Wall Street estimates,
but iPhone sales missed expectations as they were essentially
flat versus a year ago. Apple also gave soft guidance for ite
crucial holiday quarter. 

Apple is in serious danger of no longer being a $1 trillion
Shares plunged more than 7% in after
hours trading to $206.30 apiece. Any print below $207.45 during
Friday’s session would mean Apple no longer has a $1 trillion

Starbucks beats as sales boom in both the US and
The coffee giant beat on both the top
and bottom lines and reported comparable sales in both the US and
China that were ahead of Wall Street estimates. 

reporting slows down a bit
Alibaba, Chevron,
and ExxonMobil are among the names reporting ahead of the opening
bell while Berkshire Hathaway is set to release its quarterly
results after markets close.

There’s more data besides the jobs
Factory orders and durable goods orders
will both be released at 10 a.m. ET. The US 10-year yield is up 3
basis points at 3.17%.

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