Connect with us


Stock market news: Opening bell, October 29, 2018



Grab moto taxi Vietnam
Grab mototaxi drives on a street in Hanoi,


Here is what you need to know. 

Chinese stocks get
The Shanghai Composite (-2.18%) tumbled
Monday after the government said industrial profits rose 4.1%
year-over-year in September, making for the fifth straight month
of slowing growth. Elsewhere, Germany’s DAX (+1.83%) leads the
advance in Europe while the Nasdaq (+1.3%) is set for strong
gains at the US open. 

Angela Merkel is reportedly standing down as leader of her
Merkel won’t run for the leadership of
the Christian Democrat Union party after it suffered a string of
losses in regional elections, according to multiple

A far-right leader who’s garnered comparisons to Donald Trump has
won Brazil’s presidential election
Bolsonaro won 55.2% of the votes in a run-off election against
the former São Paulo Mayor and left-wing challenger Fernando
Haddad, according to Brazil’s electoral authority.

The world has “zombie firm” problem
Low interest
rates and demand for leveraged loans have created a huge market
keeping aflot companies that can barely pay the interest on their
debts, according to the Bank of International Settlements.

One key indicator suggests investors needs to get more nervous
before stocks can bottom
The Arms Index (known as
“TRIN” for short), which compares advancing and declining stock
issues and trading volume as an indicator of market sentiment,
has yet to cross the threshold that shows true investor panic.

Bank of America is on “crash watch”
Hartnett, the firm’s chief investment strategist, says the three
P’s (positioning, profits, and policy) suggest it’s still too
early to flip from bearish to bullish and gives a number of
investment ideas for people who share his view.

IBM is acquiring software company Red Hat for $34
The deal will pay Red Hat shareholders
$190 a share in cash — a more than 60% premium to Friday’s
closing price. 

Elon Musk criticized federal regulators on
The Tesla CEO called the Justice
Department’s investigation into the electric-car maker “total bs”
and said that his tweet that led to the SEC charges against him
was “worth” the $20 million fine had had to pay.

reporting is light
Mondelez and Wingstop
report after the closing bell.

US economic data keeps coming
Personal income
and spending and PCE core prices will all be released at 8:30
a.m. ET before Dallas Fed manufacturing crosses the wires at
10:30 a.m. ET. The US 10-year yield is up 1 basis point at

Continue Reading
Advertisement Find your dream job