1. Wall Street was lower on Thursday as investors digested weaker-than-expected U.S. economic growth in the third quarter and the Federal Reserve's hints of a possible rate hike in December.

 

The Fed, which kept rates unchanged at its policy meeting that ended Wednesday, downplayed concerns about global growth and indicated confidence in the U.S. job market's recovery and the economy's capacity to absorb a rate increase.

Data on Thursday underscored the strength in the labor market, showing that new applications for unemployment benefits remained near levels last seen in 1973.

2. Contracts to buy previously owned U.S. homes fell unexpectedly in September, a warning sign that the housing market recovery may be stumbling.

The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed last month, dropped 2.3 percent to 106.8, the second lowest reading of 2015. The index was up 3.0 percent from the same month a year ago.

Economists polled by Reuters had forecast pending home sales rising 1.0 percent last month.

3. The dollar trimmed losses against the other major currencies on Thursday, after data showed that the U.S. economy grew less than expected in the third quarter, as hopes for a U.S. rate hike before the end of the year continued to support

The dollar was lower against the yen, with USD/JPY down 0.16% at 120.89.

The Commerce Department said U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%. The U.S. economy grew 3.9% in the previous quarter.

Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 24 increased by 1,000 to 260,000 from the previous week’s total of 259,000. Analysts had expected jobless claims to rise by 4,000 to 263,000.

4. Gold prices plunged sharply to a more than two-week low on Thursday, after data showed the U.S. economy grew mostly in line with expectations in the third quarter and as the Federal Reserve signaled that a December rate hike was still on the table.

Gold for December delivery on the Comex division of the New York Mercantile Exchange tumbled $22.10, or 1.88%, to trade at $1,154.00 a troy ounce during U.S. morning hours. It earlier fell to $1,152.40, the lowest since October 9.

5. Natural gas futures pushed higher to move further away from the lowest level in more than three years on Thursday after data showed natural gas supplies rose less than expected last week.

 

Natural gas for delivery in December on the New York Mercantile Exchange soared 7.1 cents, or 3.07%, to trade at $2.369 per million British thermal units during U.S. morning hours. Prices were at around $2.347 prior to the release of the supply data.

 

 

 

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The US economy grew slower than expected in the third quarter.

The advance estimate of gross domestic product (GDP), (the value of all goods and services produced) was 1.5%, while economists had estimated that it would grow by 1.6% in Q3.

Personal consumption grew 3.2%, just below the forecast for 3.3%.

The Department of Commerce said in its release, "The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures (PCE), state and local government spending, nonresidential fixed investment, exports, and residential fixed investment that were partly offset by negative contributions from private inventory investment."

In the last few weeks, economists steadily lowered their estimates for growth for the quarter and the full year. Estimates were raised again on Wednesday, after the advance goods trade balance showed that the deficit shrank to $58.6 billion from $66.6 billion.

The economy has faced some strong headwinds this year, including a sharp rise in the dollar, weaker-than-expected global growth and sharp cuts in oil sector investment.

Global shocks are having a big negative impact on the industrial sector (which includes resource extraction, utilities, and the production of manufactured goods). Although this sector only accounts for a shrinking, 16% share of GDP, the data have been weak enough to slow the overall economy.

 

 

 

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It's another trading day in the middle of earnings season, and there's plenty to watch for.

Wall Street is also getting excited about talk of more Merger and Acquisition (M&A) in the pharmaceutical sector.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

 

1. Takeover talk

 

Shares in Allergan (AGN) are rising by about 10% premarket based on reports that Pfizer (PFE) is talking with the Botox-maker about a potential takeover bid. Reports in the Financial Times and Wall Street Journal cite unnamed sources. In an emailed statement to CNNMoney, Pfizer said "it does not comment on market rumor and speculation."

Allergan did not immediately respond to requests for comment.

Earlier this year, Allergan combined with Actavis. The group has a market value of well over $110 billion.

Pfizer has a market value around $220 billion.

 


2. Earnings

 

It's another busy morning for earnings, with reports from Sony (SNE), Nokia (NOK), Aetna (AET), Time Warner Cable (TWC) and MasterCard (MA) coming through before the opening bell.

Afternoon reports include Expedia (EXPE), LinkedIn (LNKD, Tech30) and Starbucks (SBUX).

 


3. Stock market movers

 

Banks, PayPal, Hanes: Shares in Deutsche Bank (DB) are falling by 3% in Germany after the firm reported a massive 6 billion euro ($6.6 billion) loss in the third quarter and announced plans to shed 35,000 jobs.

Shares in the British bank Barclays (BCS) are also declining by about 5% in London after reporting disappointing quarterly results.

PayPal (PYPL, Tech30) stock is dropping by about 6% premarket as Wall Street expresses disappointment over the company's latest earnings results.

Hanes (HBI) stock could shoot up by over 10% at the open after the company beat earnings expectations.

 


4. Economics

 

A few important economic reports will be coming through Thursday.

The U.S. Bureau of Economic Analysis is releasing an estimate for gross domestic product growth in the third quarter at 8:30 a.m. ET. In the second quarter, GDP growth reached 3.9%, up from a weak first quarter of 0.6% growth.

At the same time, the U.S. Department of Labor will release weekly jobless claims.

At 10 a.m. the National Association of Realtors is set to give an update on pending home sales from September.

And then government data on natural gas inventories will be released at 10:30 a.m.

 

 

 

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What is it? It's among the primary tools the BOJ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it projects the economic outlook and offers clues on the outcome of future rate decisions.

When? Tentative

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the JPY to rise.

 

 

 

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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.

When? At 8:00pm Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.

 

 

 

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What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is lower than the forecast, you can expect the USD to rise.

 

 

 

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What is it? It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

 

 

 

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1. U.S. stocks were boosted by gains in Apple on Wednesday, and investors awaited the Federal Reserve's policy statement later in the day.

Apple (O:AAPL) sold 48 million iPhones in the quarter and reported a near doubling of revenue from China, allaying concerns about its business in the world's second-largest economy.

The stock was up 2.4 percent at $117.27, providing the biggest boost to the three major indexes.

2. Apple Inc (O:AAPL) reported blockbuster iPhone sales in China, suggesting that worries about the company's growth trajectory in the world's second-largest economy are overdone.

Apple's shares rose nearly 3 percent in early trading on Wednesday.

The stock has lost about 7 percent of its value in the past three months as investors fret that the slowing Chinese economy would derail Apple's successful run in the country.

Apple's sales in Greater China, including Taiwan and Hong Kong, nearly doubled in the third quarter, accounting for nearly a quarter of the company's total sales.

3. The dollar pushed lower against the other major currencies on Wednesday, as sentiment on the greenback became fragile ahead of the Federal Reserve's highly-anticipated policy statement due later in the day.

The dollar was steady against the yen, with USD/JPY at 120.35.

The Fed was not expected to raise interest rates later Wednesday, but many investors still expected the U.S. central bank to signal that rates could still rise at its December meeting.

4. West Texas Intermediate oil futures extended strong gains on Wednesday, after data showed that oil supplies in the U.S. rose less than expected last week, easing concerns over weak demand.

Crude oil for delivery in December on the New York Mercantile Exchange surged $1.70, or 3.94%, to trade at $44.90 a barrel during U.S. morning hours. Prices were at around $44.57 prior to the release of the inventory data.

The U.S. Energy Information Administration said in its weekly report that crude oil inventories rose by 3.37 million barrels in the week ended October 23.

5. Activist investor Carl Icahn said on Wednesday American International Group Inc (N:AIG) should split its life and mortgage insurance units into three public companies to avert the U.S. government's "too-big-to-fail" tag.

Icahn, who disclosed that he owns a "large stake" in AIG, also said in an open letter to the company's CEO that it should begin a "much needed" cost control program to better compete with peers. AIG shares rose as much as 4 percent to $63.44 in early trading.

 

 

 

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Shares in many well-known companies are set for big moves today. Be ready.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

 

1. Stock market movers

 

Apple, Twitter, Northrop Grumman, Rite Aid, Starwood Hotels: Shares in Apple (AAPL, Tech30) are jumping ahead of the open after the company reported strong quarterly results. Apple's profit rose 31% as customers continued to buy more expensive iPhones.

On the other hand, Twitter's (TWTR, Tech30) stock is set to tumble after the tech firm turned in another disappointing earnings report.

Shares in Northrop Grumman (NOC) are rising by about 9% premarket after the company landed a massive contract with the Pentagon to build its Long Range Strike Bomber. The firm is also reporting earnings ahead of the opening bell.

Rite Aid (RAD) shares are sinking about 7% premarket following a 45% surge on Tuesday triggered by reports that Walgreens (WBA) was planning to buy the company. Walgreens confirmed the $17.2 billion deal after the closing bell.

Walgreens is also set to report earnings before trading begins.

And shares in Starwood Hotels (HOT) could be on the move Wednesday after three Chinese firms were reported to be trying to buy the group, which operates W and Sheraton hotels.

 


2. Ones to watch

 

Volkswagen, IBM: Investors are keeping a close eye on Volkswagen (VLKAY) after the company reported a deep loss in the third quarter because of the group's diesel emissions scandal. Shares are rising about 2% in Europe as investors seem relieved that the losses weren't worse.

IBM (IBM, Tech30) may remain in the spotlight after the tech giant admitted Tuesday that it is under investigation by the U.S. Securities and Exchange Commission. The SEC is conducting an investigation into certain IBM accounting practices in the U.S., UK and Ireland, but the company wouldn't provide further details.

 


3. Earnings

 

There are a lot of companies reporting earnings today.

Before the open, we'll get updates  from firms including Fiat Chrysler (FCAM), Hershey (HSY) and the global food giant Mondelez International (MDLZ).

After the close, GoPro (GPRO, Tech30), Marriott (MAR) and Yelp (YELP) are reporting.

 


4. Waiting for the Fed

 

The Federal Reserve will issue its latest decision on interest rates at 2 p.m. ET.

"A change in policy is not, perhaps, terribly likely," said Paul Donovan, a senior economist at UBS. "A change in the nuance of the statement is perhaps more plausible."

The world is waiting for the Fed to raise rates but it's been holding back over lingering concerns about the strength of the U.S. economy as global growth slows.

 

 

 

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What is it? It's among the primary tools the RBNZ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

When? At 4:00pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the NZD to rise.

 

 

 

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What is it? Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? At 4:00pm Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.

 

 

 

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What is it? Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? At 2:00pm Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

 

 

 

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What is it? It's the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.

When? At 2:00pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.

 

 

 

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1. U.S. stocks were lower on Tuesday after mixed earnings reports, weak durable goods data and lower crude prices.

Investors are also keeping an eye on the Federal Reserve, which begins its two-day policy meeting on Tuesday.

While expectations of a rate hike this week are low, focus will be on the Fed's interpretation of economic data and global financial events for a bearing on the timing of a liftoff.

Corporate results remain in sharp focus as investors scrutinize the reports for measures companies are taking to grow revenue and protect profit margins.

All eyes are on Apple (O:AAPL), which reports fourth-quarter results after the close, as investors await commentary on the iPhone maker's business in China and its forecast for the crucial holiday quarter.

2. Gold futures swung between small gains and losses on Tuesday, as investors digested a batch of mostly weaker than expected U.S. economic data while focusing on the start of the Federal Reserve's two-day monetary policy meeting due to begin later in the day.

Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $1.10, or 0.09%, to trade at $1,167.30 a troy ounce during European morning hours. A day earlier, gold tacked on $3.40, or 0.29%.

3. Oil prices fell on Tuesday, extending losses into a third week, on worries over a supply glut and with U.S. inventory data expected to show another increase in crude stocks.

Brent for December delivery had fallen 30 cents to $47.24 a barrel by 1150 GMT, after settling the previous session down 45 cents.

U.S. crude dropped 55 cents to $43.43 a barrel, having touched a nine-week low of $43.20 earlier on Tuesday.

An expected further build in U.S. crude stocks and a glut of refined products again raised concerns of an oversupplied market.

"We expect that the focus of the oil markets is rapidly shifting to the surplus of refined products," analysts at Jefferies wrote, adding that the bearish mood was aggravated by dropping refining profitability while demand growth slowed.

4. The U.S. dollar rose to nearly one-month highs against its Canadian counterpart on Tuesday, as declining oil prices weighed on the Canadian currency, although the greenback's gains remained limited ahead of the Federal Reserve's highly-anticipated policy statement this week.

USD/CAD hit 1.3200 during early U.S. trade, the pair's highest since October 23; the pair subsequently consolidated at 1.3215, gaining 0.47%.

5. U.S. consumer confidence deteriorated to a three-month low in October, dampening optimism over the health of the economy and dimming the case for a U.S. interest rate hike this year, industry data showed on Tuesday.

In a report, the Conference Board, a market research group, said its index of consumer confidence fell to 97.6 this month from a reading of 102.6 in September, whose figure was revised from a previously reported 103.0. Analysts expected the index to rise to 103.0 in October.

 

 

 

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The second and biggest week of third-quarter earnings season heats up Tuesday when Apple, the maker of the iPhone and the world’s most-valuable company, reports its latest quarterly results after the closing bell.

Apple is one of 169 companies in the benchmark Standard & Poor’s 500 stock index that will report results this week, an earnings season that despite its solid start could still end up being the first quarter of contracting profits since the financial crisis in 2009.

Currently S&P 500 profits are forecast to contract 2.8% in the third quarter, and while still negative that is still better than the 4.8% drop seen at the start of the earnings season.

In addition to Apple, Wall Street will get results from major names in tech like Twitter, Comcast, and Biotech.

Apple is the most important of the day as the gadget maker has been lagging the performance of other major tech players since the market bottom Aug. 25. Apple is up 11.1% since the August low, but Google parent Alphabet is up 22.5% and online shopping giant Amazon.com is up 30.6%.

There are three keys to Apple reports later on today:

1. iPhone 6s and 6s Plus  sales: "Investors will be waiting with great anticipation to hear how sales of the iPhone 6s and 6s Plus are faring," she told clients in a research note. "Three days after the official launch in late September, Apple sold more than 13 million units in one weekend, a company record."

2. Growth in China: "Much of the company’s success this year can be attributed to China, but can massive growth in that region continue?" Short says. "Earlier this year Apple received approval from Chinese regulators to sell iPhones.

3. Product updates: "Investors will also be looking for updates on several of Apple’s other products (Apple Watch, Apple Pay, Apple Music and Apple TV) this quarter that have recently been launched or are in the process of being launched," Short wrote. "These products are likely going to help Apple reduce its reliance on its iPhone segment which currently dictates around 70% of revenues."

 

 

 

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Some of the biggest companies in the world are reporting quarterly results and the reports are sure to move affect the markets.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

 

1. Earnings

 

Corporate giants such as Ford (F), Comcast (CCV), Alibaba (BABA, Tech30), Coach (COH), UPS (UPS), Pfizer (PFE) and T-Mobile (TMUS) are reporting before the trading day begins.

BP (BP) reported results that came in ahead of expectations so its shares are rising in London by nearly 2%.

After the closing bell, Apple (AAPL, Tech30) will open its books alongside Twitter (TWTR, Tech30).

Last week a string of other big tech companies like Amazon (AMZN, Tech30), Alphabet (GOOG) and Microsoft (MSFT, Tech30) set the stage with great results.

 


2. Senate votes on cybersecurity bill

 

The U.S. Senate is deciding on Tuesday whether to approve the Cybersecurity Information Sharing Act (CISA). It's a measure designed to help American companies work more closely with law enforcement officials to fight off hackers.

The idea behind CISA is to help U.S. companies react more quickly to attacks on their computer systems. But tech companies have opposed the bill, with many saying CISA could expand U.S. government spying on Americans.

 


3. Economics

 

Wall Street will get further insight into the health of the U.S. housing market Tuesday when the Case-Shiller housing index comes out at 9 a.m. ET.

The Conference Board is posting its October consumer confidence index at 10 a.m. In September, the index showed Americans were feeling more confident because of lower gasoline prices and improvements in the labor market.

In the U.K., new data shows the economy grew by 2.3% in the third quarter compared to the same period last year. While that growth looks solid, the number came in slightly below expectations, and was slightly weaker than the previous quarter.

 


4. Global markets overview

 

U.S. stock futures are looking soft and most European markets are dipping in early trading.

While Chinese stock markets moved up a bit on Tuesday, all other major Asian markets ended the day with losses.

The price of natural gas continues to drop, down another 3% to trade around $2 per million British thermal units. Prices have declined by nearly a third since the start of 2015, and losses have accelerated in the last few days. Oil prices are also falling by nearly 1% to below $44 a barrel.

 

 

 

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What is it? Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

When? At 8:30pm Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the AUD to rise.

 

 

 

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