October was the best month for Stocks in the last 4 years. The good momentum may continue to November.
U.S. stock futures are climbing back up from earlier lows. The S&P 500 is getting closer to an all-time high.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Hot Turkey
Turkey's main Istanbul index is surging around 5% after the ruling AKP party won a surprise outright majority in parliamentary elections. The lira is also jumping versus the U.S. dollar.
"A period of prolonged political uncertainty has come to an end, hence the strong rally of the Turkish lira," explained Simon Smith, chief economist at FxPro.
Still, Turkey's economy remains vulnerable to any rise in U.S. interest rates because of its yawning current account deficit and some analysts say the gains may be short-lived.
2. Stocks to watch
Chipotle, HSBC: Chipotle (CMG) is in the spotlight Monday after the company temporarily closed dozens of restaurants in Washington and Oregon after an E.coli scare. Shares in the restaurant chain have dropped by about 15% since mid-October.
Shares in HSBC (HSBC) are dipping by around 1% in London as investors react to the bank's latest earnings results. Pre-tax profits in the third quarter rose 31% compared to the same period last year, but underlying revenues were down.
3. Earnings and economics
Visa (V), Estee Lauder (EL) and Clorox (CLX) are among the companies reporting ahead of the open.
Then Allstate (ALL), Avis Budget (CAR), AMC Entertainment (AMC) and Fitbit (FIT) will post earnings after the close.
On the economic side, the Institute for Supply Management will release its October manufacturing report at 10 a.m. ET.
4. International markets overview
European markets are not making any major moves in early trading, but there's a positive atmosphere in the markets.
Asian stock markets mostly ended with losses.
This comes as official data shows China's factory sector slowed for a third straight month in October.
China's Premier Li Keqiang also set a new medium term target for growth, saying the world's second biggest economy will need to expand by at least 6.5% per year over the next five years, according to state media. The Chinese government had been targeting 7% growth this year.
Ask us about our FREE financial advice program:
Other Top Stories:
Technical Analysis Lesson 1 - Introduction
How I Made Over $30,000 a Year by Investing in Binary Options
Follow us and SHARE this story on Facebook: