U.S. stocks break records, China’s Yuan continue to sink.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
U.S. stocks break records, China’s Yuan continue to sink.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. The record-setting goes on
1. The record-setting goes on
The Trump stock market rally seems to have fade out in other parts of the world.
But in the U.S. signs point to a continued climb for the Dow Jones industrial average, which hit a fresh record high on Monday.
U.S. stock futures are moving up, though the gains are small. European markets are mixed in early trading. Asian markets ended the day with mostly negative results.
Meanwhile, the sharp sell-off in the bond market has eased. Yields on many 10-year government bonds are coming back down.
Donald Trump's promises to unleash massive infrastructure spending and gigantic tax cuts had spooked bond investors. The rate on 10-year Treasury notes had surged to 2.3%, from 1.77% before the election.
2. The sky is (not) the limit
2. The sky is (not) the limit
Warren Buffett is betting big on U.S. airlines, according to a regulatory filing disclosed Monday.
During the third quarter, Buffett's Berkshire Hathaway (BRKB) took stakes in American Airlines (AAL), United Continental (UAL) and Delta Air Lines (DAL).
Berkshire also made an investment in Southwest Airlines after the quarter ended, he told CNBC.
The investments mark a surprising reversal for the man who once lambasted the industry's thirst for cash. In 2007, he called airlines a "bottomless pit."
Buffett's money decisions are closely monitored by the investment community. Don't be surprised if these airline stocks rise again Tuesday as investors copy Buffett’s trades.
3. China’s Yuan (CNY) is free falling
3. China’s Yuan (CNY) is free falling
China's currency continues to sink against the dollar.
Beijing has allowed the yuan to tumble past six- and seven-year lows in the wake of Trump's election win. The fall continued Tuesday, with one dollar buying around 6.86 yuan, the weakest the Chinese currency has been since the dark days of the global financial crisis in late 2008.
The Chinese government is known for retaining tight control of its currency.
4. Earnings and economics
4. Earnings and economics
A range of retailers are reporting earnings Tuesday morning, including Dick's Sporting Goods (DKS), Home Depot (HD) and TJX (TJX).
The U.S. Census Bureau is releasing its retail sales report for October at 12:30GMT.
And new U.K. inflation data shows consumer prices rose by 0.9% in October compared to the same time last year. Prices in the country are rising as the pound has plummeted in reaction to the U.K. Brexit referendum.
Coming later this week:
Tuesday - Megyn Kelly book release, Home Depot (HD) earnings
Wednesday - Target (TGT) earnings
Thursday - Walmart (WMT) earnings; Janet Yellen testifies about economic outlook
Friday - "Fantastic Beasts and Where to Find Them" release, "The Grand Tour" premieres on Amazon Prime