1. U.S. stocks were lower in early trading on Monday ahead of this week's Federal Reserve policy meeting and as Apple shares fell a day before it reports quarterly results.

The Fed is not seen raising rates at the two-day meeting but investors will scrutinize its statement on Wednesday for a bearing on when it will pull the trigger.

While Fed Chair Janet Yellen has said the central bank could raise rates this year, it will do so only if there are clear signs of sustained economic growth.

2. New U.S. single-family home sales fell to near a one-year low in September after two straight months of gains, suggesting a temporary cooling in the market for new houses.

The Commerce Department said on Monday sales dropped 11.5percent to a seasonally adjusted annual rate of 468,000 units, the lowest level since November 2014. August's sales pace was revised down to 529,000 units from the previously reported 552,000 units.

3. FOREX - The U.S. dollar slipped lower against its Canadian counterpart on Monday, after the release of disappointing U.S. housing data.

USD/CAD hit 1.3131 during early U.S. trade, the session low; the pair subsequently consolidated at 1.3151, edging down 0.13%.

4. COMMODITIES - The United States is now importing more foreign oil after years of declines. Low oil prices are forcing U.S. producers to scale back operations, leading domestic refineries to boost shipments from countries like Nigeria.

Total U.S. crude oil imports rose for three consecutive months this summer, from 5.6 percent of total imports in April to 11 percent in July, according to the latest data from the U.S. Energy Information Administration, a federal statistics agency. Until this year, the domestic energy boom had pushed crude imports down 20 percent between 2010 and 2014. But that dynamic is shifting as prices stay low due to an oversupply in global crude, the Wall Street Journal reported Monday.

5. Drugmaker Valeant Pharmaceuticals International Inc (TO:VRX) (N:VRX) laid out a detailed defense on Monday of its relationship with a little-known specialty pharmacy, but its arguments failed to calm all investors' concerns.

Valeant's shares were up about 1 percent in New York and Toronto after tumbling as much as 14 percent before normal trading hours. They had plunged 35 percent last week following a critical report by short-seller Citron Research, run by Andrew Left.

 

 

 

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Toyota recaptured the title of world's largest automaker from Volkswagen in the third quarter of 2015, suggesting that the Japanese automaker may retain the title for the full year.

German automaker Volkswagen had seized the top spot through the first six months of the year, edging closer to its long-running goal of becoming the globe's biggest vehicle manufacturer for a full calendar year.

But the goal may prove elusive — especially considering that Volkswagen's emissions scandal was revealed with less than two weeks to go in the third quarter, leaving little time to gauge the full impact at dealerships.

Toyota still dethroned Volkswagen, selling 7.498 million vehicles during the first nine months of the year, a 1.5% decline from the same period in 2014.

Volkswagen sold 7.431 million vehicles during the first nine months of the year, also representing a 1.5% decline.

Now, the fourth quarter reflects a crucial test for Volkswagen, which is facing numerous investigations and a hail of criticism over its installation of manipulative software on 11 million vehicles to cheat emissions tests.

The company has stopped selling the diesel cars involved in the scandal until it can deliver a fix, leaving dealers with a gaping hole in their lineup. That will ding sales, although Volkswagen is expected to discount vehicles to juice sales.

Several years ago, Volkswagen's former CEO, Martin Winterkorn, had charted a goal of becoming the world's largest automaker by 2018.

After the first sixth months of the year, Volkswagen had achieved that goal, outselling Toyota by 5.04 million to 5.02 million.

Meanwhile, General Motors, once the perennial No. 1, is now firmly entrenched in the No. 3. slot. The Detroit-based automaker sold 7.151 million vehicles during the first nine months of the year, down 1.3%.

 

 

 

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1. U.S. stocks opened higher on Friday after a surprise interest rate cut in China added to a broad rally driven by strong quarterly results from Alphabet, Microsoft and Amazon.

China's central bank cut interest rates for the sixth time since November on Friday in another attempt to jumpstart a slowing economy.

"Some of the worst fears associated with China were put to bed at least temporarily," said Ernie Cecilia, chief investment officer of Bryn Mawr Trust.

Global markets rose again, a day after the European Central Bank signaled that it was ready to extend its stimulus plan.

2. China's central bank cut interest rates for the sixth time since November on Friday, and it again lowered the amount of cash that banks must hold as reserves in another attempt to jumpstart a slowing economy.

China's monetary policy easing is at its most aggressive since the 2008/09 global financial crisis, underscoring concerns within Beijing about the health of the world's second-largest economy.

3. The euro erased gains against the U.S. dollar on Friday, falling to a two-month lows as hints of additional stimulus measures by the European Central Bank overshadowed the release of positive economic reports from the euro zone earlier in the day.

EUR/USD pulled away from 1.1140, the session high, to hit 1.1023 during U.S. morning trade, declining 0.74%.

The pair was likely to find support at 1.0959, the low of August 11 and resistance at 1.1140, the session high.

The single currency was hit after ECB President Mario Draghi said the central bank will "reexamine" its monetary policy in December, hinting at the possibility for further easing measures.

4. The U.S. dollar rose to three-week highs against its Canadian counterpart on Friday, after the release of disappointing inflation data from Canada and as optimism over the health of the U.S. economy continued to support the greenback.

USD/CAD hit 1.3192 during early U.S. trade, the pair's highest since October 2; the pair subsequently consolidated at 1.3179, climbing 0.66%.

The pair was likely to find support at 1.2930, the low of October 20 and resistance at 1.3176, the high of October 5.

5. New revenue streams such as mobile and video advertising should continue to propel earnings of Google parent Alphabet Inc (O:GOOGL), whose shares were set to open at a record high on Friday following better-than-expected results, analysts said.

The company's search traffic on mobiles surpassed desktop traffic worldwide for the first time in the latest quarter.

Alphabet's shares were up nearly 10 percent at $746.95 in premarket trading, far above the $713.33 record high set by Google - the company's former name - in regular trading in July.

A 10 percent rise equates to about $46 billion in market value. This would give Alphabet a market cap of about $519 billion, cementing its position as the second-most valuable stock after Apple Inc (O:AAPL), worth about $660 billion.

 

 

 

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Amazon surprised investors (again) on Thursday by posting its second consecutive quarterly profit and also topping revenue estimates in the third quarter.

Shares of Amazon shot up 11% in after-hours trading.

During the quarter, net income surged to $79 million, or 17 cents per share, compared with a net loss of $437 million, or 95 cents per share, a year ago. This beats analyst estimates of a 13 cent loss per share.

Amazon, which is known for playing the long game and sacrificing profits along the way, also delighted investors by posting a rare profit last quarter.

Total revenue increased 23% to $25.4 billion, beating analyst estimates of $24.9 billion. Revenue would have risen 30% if not for currency headwinds.

Helping to drive the rise in revenue was continued strength in its cloud-hosting division, Amazon Web Services. Revenue from the business rose to $2.08 billion, up 78% from a year ago and 14% from last quarter. AWS operating income more than quadrupled.

Looking forward to the fourth quarter, the online retailing juggernaut is forecasting blockbuster performance. It expects revenue between $33.5 billion and $36.75 billion and operating income between $80 million and $1.28 billion.

Behind this forecast are expectations for ”record holiday season.” Amazon has said it expects to hire 100,000 people in North America for seasonal help and that most of the orders shipped should be through an Amazon Prime account.

You can expect Amazon to push its new line of tablets, including the $49 Fire tablet, during gift-giving season. Amazon has used gadgets like these to promote its Prime membership, and earlier this month, even said it will stop selling competing video-streaming devices from Apple and Google.

On the earnings call with analysts and investors, the question arose about whether the company is at a point now where it can deliver consistent profits. The short answer: No promises. “Innovation and investment will continue and could be lumpy over time,” said chief financial officer Brian Olsavsky. “But we’re also working on cost reduction and efficiency.”

Shares of Amazon jumped 11% to $627.39 in after-hours trading Thursday and are up 80% this year. Amazon has trounced the broader market and is one of the year’s best-performing stocks.

 

 

 

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1. U.S. stocks opened higher on Thursday after McDonald's and eBay reported strong quarterly results and jobless claims data pointed to improvements in the labor market.

The Dow Jones industrial average (DJI) rose 124.36 points, or 0.72 percent, to 17,292.97, the S&P 500 (SPX) gained 13.57 points, or 0.67 percent, to 2,032.51 and the Nasdaq composite (IXIC) added 39.18 points, or 0.81 percent, to 4,879.30.

2. The number of Americans filing new applications for unemployment benefits rose less than expected last week, remaining at levels consistent with a fairly healthy labor market.

Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 259,000 for the week ended Oct. 17, the Labor Department said on Thursday. They remained not too far from levels last seen in late 1973.

It was the 33rd straight week that claims were below the 300,000 threshold, which is normally associated with a firming jobs market.

3. The euro tumbled to three-week lows against the U.S. dollar on Thursday, after European Central Bank President Mario Draghi hinted at the possibility for further easing measures before the end of the year.

EUR/USD hit 1.1160 during U.S. morning trade, the pair's lowest since October 2; the pair subsequently consolidated at 1.1171, plummeting 1.57%.

The pair was likely to find support at 1.1132, the low of October 1 and resistance at 1.1351, the session high.

4. U.S. home resales rose more than expected in September to the second highest monthly sales pace since February 2007, suggesting the housing market continues to show strength compared to the rest of the economy.

The National Association of Realtors said on Thursday existing home sales increased 4.7 percent to an annual rate of 5.55 million units.

August's sales pace was revised slightly lower to 5.30 million units from the previously reported 5.31 million units.

5. Oil prices rose above $48 a barrel on Thursday, propelled by technical buying and as investors re-evaluated U.S. data that showed falling stockpiles of fuel as well as higher crude inventories.

Brent for December delivery rose 51 cents to $48.36 a barrel by 0656 ET. The global crude benchmark finished down 86 cents, or 1.8 percent, on Wednesday, after hitting $47.50, its lowest since early October.

 

 

 

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Fast food giant McDonald’s reported better than expected third quarter earnings and revenue figures on Thursday, sending its shares higher in pre-market trade.

McDonald’s said earnings per share came in at $1.40 in the three months ended September 30, beating expectations for earnings of $1.28 per share and up from earnings of $1.09 a share in the same period a year earlier.

The company’s third quarter revenue totaled $6.62 billion, above forecasts for sales of $6.41 billion but down 5.3% from revenue of $6.99 billion in the third quarter of 2014.

Global comparable sales increase of 4.0%, reflecting positive comparable sales in all segments.

In the U.S., third quarter comparable sales increased 0.9%, the segment's first quarterly comparable sales increase in two years.

Comparable sales for the International Lead Markets segment increased 4.6% for the third quarter led by strong performance in Australia, the U.K. and Canada and positive results in Germany.

"I am encouraged by our operating performance for the quarter, with positive comparable sales across all segments, including the U.S., as well as sales recovery in China following the prior year supplier issue," said McDonald's (N:MCD) President and Chief Executive Officer Steve Easterbrook.

Immediately after the earnings announcement, McDonald’s shares rallied $6.26, or 6.1%, to hit $109.20 in trading prior to the opening bell compared to Wednesday's closing price of $102.54.

Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures rose 68 points, or 0.4%, the S&P 500 futures tacked on 8 points, or 0.37%, while the Nasdaq 100 futures advanced 20 points, or 0.44%.

 

 

 

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1. U.S. stocks opened higher on Wednesday, boosted by strong quarterly results from industry heavyweights General Motors (N:GM) and Boeing (N:BA).

The Dow Jones industrial average (DJI) rose 45.36 points, or 0.26 percent, to 17,262.47, the S&P 500 (SPX) gained 6.71 points, or 0.33 percent, to 2,037.48 and the Nasdaq composite index (IXIC) added 22.38 points, or 0.46 percent, to 4,903.35.

2. Coca-Cola reported a bigger-than-expected drop in quarterly sales due to a strong dollar and the company said it expected the currency to hurt its full-year revenue more than previously anticipated.

The cola maker, which gets more than half of its total revenue from markets outside North America, said a strong dollar would lower its full-year revenue by 7 percentage points compared with 6 percentage points estimated earlier.

3. The euro held steady against the U.S. dollar on Wedmesday, as Tuesday's upbeat U.S. housing sector data continued to lend support to the greenback, while investors began to focus on the European Central Bank's monthly policy statement expected on Thursday.

EUR/USD hit 1.1386 during European afternoon trade, the session high; the pair subsequently consolidated at 1.1346.

The pair was likely to find support at 1.1303, the low of October 19 and resistance at 1.1412, the high of October 13.

4. The Bank of Canada kept its benchmark interest rate on hold in October, after already cutting rates twice this year, it announced on Wednesday.

The BoC said it was leaving its overnight cash rate unchanged at 0.50%, in line with expectations.

Inflation has evolved in line with the outlook in the Bank’s July Monetary Policy Report. Total CPI inflation remains near the bottom of the Bank’s target range, owing to declines in consumer energy prices.

5. Oil prices fell on Wednesday after a big build in U.S. crude inventories which fed concerns that demand may not be enough to absorb one of the largest global surpluses in modern times.

The American Petroleum Institute on Tuesday reported a rise in U.S. commercial crude stocks of 7.1 million barrels to 473 million barrels in the week to Oct. 16, trumping expectations for an increase of 3.9 million barrels.

 

 

 

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U.S. stock index futures were slightly higher on Wednesday, set to reverse the small losses on Tuesday, ahead of earnings reports from heavyweights including General Motors, Boeing and Coca-Cola.

* American Express and eBay report after the close.

* Investors will be parsing the quarterly reports for clues on the measures companies are taking to increase revenue and protect profits as concerns about an economic slowdown deepen.

* S&P 500 companies are expected to report a 3.9 percent decline in third-quarter profit and a 3.8 percent fall in revenue, according to Thomson Reuters data.

* Weak European earnings and a slide in Chinese small-cap stocks weighed on global stocks.

* U.S. stocks closed slightly lower on Tuesday as losses in healthcare and biotech stocks offset gains in Verizon and United Technologies.

* Shares of Yahoo were down 1.3 percent at $32.40 premarket on Wednesday after the Internet company's quarterly earnings and profit missed expectations.

* Chipotle fell 8 percent to $649.00 after the burrito chain posted disappointing third-quarter results.

* VMware sank 4.2 percent to $65.90 after the virtualization software maker forecast current-quarter revenue below estimates.

* Brent crude fell slightly as U.S. oil inventories rose, while copper prices continued falling as demand from China weakens.

Futures snapshot at 6:44 a.m. ET:

* S&P 500 e-minis were up 9.5 points, or 0.47 percent, with 139,426 contracts traded.

* Nasdaq 100 e-minis were up 20.25 points, or 0.46 percent, on volume of 22,587 contracts.

 

 

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1. Wall Street opened little changed on Tuesday as third-quarter earnings season gathered momentum with Verizon, Travelers and United Technologies (N:UTX) reporting their results.

The Dow Jones industrial average (DJI) fell 31.2 points, or 0.18 percent, to 17,199.34, the S&P 500 (SPX) lost 2.5 points, or 0.12 percent, to 2,031.16 and the Nasdaq composite (IXIC) dropped 5.01 points, or 0.1 percent, to 4,900.46.

2. The U.S. dollar edged lower against its Canadian counterpart on Tuesday, pulling away from a one-week peak as the release of mixed U.S. data dampened demand for the greenback, while a disappointing economic report from Canada limited the local currency's gains.

USD/CAD hit 1.2980 during early U.S. trade, the session low; the pair subsequently consolidated at 1.2979, sliding 0.31%.

3. Gold futures were little changed on Tuesday, after data showed the number of housing starts issued in the U.S. rose more than expected in September, while building permits fell more than forecast, painting a mixed picture of the economy and adding to uncertainty over the timing of a U.S. rate hike.

4. The number of housing starts issued in the U.S. rose more than expected in September, while building permits fell more than forecast, official data showed Tuesday.

In a report, the U.S. Commerce Department said that housing starts rose 6.5% to hit a seasonally adjusted 1.206 million units last month from August’s total of 1.132 million units. Analysts had expected a figure of 1.140 million.

5. U.S. natural gas futures extended gains from the prior session on Tuesday, as forecasts for chilly temperatures across key consumption regions of the U.S. boosted demand expectations for the fuel.

Natural gas for delivery in November on the New York Mercantile Exchange jumped 4.4 cents, or 1.8%, to trade at $2.487 per million British thermal units during U.S. morning hours.

 

 

 

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U.S. stock index futures were lower on Tuesday as prices of commodities fell on rekindled worries about demand from China.

* Investors are awaiting a barrage of quarterly results and a speech by Federal Reserve Chair Janet Yellen.

* Third-quarter company earnings are in full focus this week with Verizon (VZ.N), Yahoo (YHOO.O) and VMware (VMW.N) reporting results on Tuesday.

* Investors are pricing in tepid corporate performance for the quarter and watching out for outlook commentary as the effects of global financial turbulence hits American shores.

* S&P 500 companies are expected to show a 3.9 percent fall in third-quarter profit, according to Thomson Reuters data.

* U.S. stocks closed with slight gains on Monday as tech and biotech stocks advanced ahead of a heavy week of earnings.

* Brent crude fell on Tuesday but steadied around $48 a barrel and London copper prices slipped to two-week lows straining under an economic slowdown in China. [O/R] [MET/L]

* Exxon's shares (XOM.N) were down 1.8 percent at $80.99 premarket.

* IBM (IBM.N) fell 4.7 percent to $142.15 a day after it reported a bigger-than-expected fall in quarterly revenue and cut its full-year profit forecast.

* Sandisk (SNDK.O) jumped 8.1 percent to $77.82 after a Reuters report said Western Digital (WDC.O) was in advanced talks to buy the memory chipmaker, citing people familiar with the matter.

* Yum Brands (YUM.N) rose 4.3 percent to $74.76 after the fast food group said it was preparing to separate its China business.

* Travelers (TRV.N) rose 0.6 percent to $107.00 after it reported a rise in third-quarter profit. * Data on housing starts is scheduled for release on Tuesday at 8:30 a.m. ET. The data is expected to show 1.15 million units were started in September, up from the 1.13 million units in August.

* Yellen speaks at 11:00 a.m. ET. Fed Board Governor Jerome Powell is also scheduled to speak on Tuesday.

* S&P 500 e-minis ESc1 were down 7 points, or 0.35 percent, with 84,232 contracts traded.

* Nasdaq 100 e-minis NQc1 were down 12.5 points, or 0.28 percent, on volume of 13,227 contracts.

* Dow e-minis 1YMc1 were down 60 points, or 0.35 percent, with 11,349 contracts changing hands.

 

 

 

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