1. Saudi arrests rattle markets: Saudi billionaire Prince Alwaleed bin Talal has been arrested as part of an anti-corruption sweep in the kingdom. The businessman is one of at least 17 Saudi princes and top officials that have been detained, according to a list obtained by CNN and cited by a senior royal court official.
|
 |
| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +8.00 | | -1.50 | | -1.75 | | +0.03% | | -0.02% | | -0.07% | | | |
| |
| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +9.23 | | +16.43 | | -6.97 | | 22,548.35 | | 3,388.17 | | 7,553.38 | | +0.04% | | +0.49% | | -0.09% | | | |
| |
| | | Biggest Winners | | Advanced Micro Devices Inc | +5.04% | | | | Qualcomm Inc | +3.70% | | | | Freeport-McMoRan Inc | +1.48% | | | | Chesapeake Energy Corp | +1.34% | | | Biggest Losers | | NVIDIA Corp | -1.17% | | | | Mylan NV | -1.09% | | | | Verizon Communications Inc | -1.03% | | | | Berkshire Hathaway Inc | -0.95% | | | | | | | |
| |
| |
| News: What you need to know about the markets | | | | | | | Saudi arrests; Gun stocks; Sprint moves on | By Alanna Petroff
Monday, November 6th, 5:10am | | | | 1. Saudi arrests rattle markets: Saudi billionaire Prince Alwaleed bin Talal has been arrested as part of an anti-corruption sweep in the kingdom. | | | | The businessman is one of at least 17 Saudi princes and top officials that have been detained, according to a list obtained by CNN and cited by a senior royal court official. | | | | Alwaleed owns stakes in companies including Apple, Twitter and Citigroup. | | | | Saudi Arabia's All-Share index dropped by about 1.5% on Monday. | | | | Crude oil spiked to $56 per barrel -- the highest level in over two years -- as investors worried about increased political uncertainty in Saudi. But the international impact may be limited. | | | | "There is little cause for international markets to react," said Paul Donovan, global chief economist at UBS Wealth Management. "The moves would be relevant only if they were seen as creating instability and threatening the oil price (unlikely) or if they were seen as prompting capital flight from Saudi (possible, but unlikely)." | | | | 2. Gun stocks: Shares in gun makers Sturm Ruger and American Outdoor Brands, the company formerly known as Smith & Wesson, will be closely watched on Monday following a shooting at a church in Sutherland Springs, Texas. At least 26 people were killed. | | | | In the past, U.S. consumers who worried about stricter gun control measures purchased more guns in the wake of mass shootings. | | | | 3. Trump's tax bill goes under the microscope: The U.S. House Ways and Means Committee will begin its markup of the GOP tax plan on Monday. | | | | As it stands now, the Tax Cuts and Jobs Act would permanently lower the corporate tax rate to 20%, increase the standard deduction for individuals and households and eventually repeal the estate tax. | | | | President Trump promised that a tax reform bill would be completed by Christmas. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 4. Stock market movers -- Sprint, T-Mobile, Qualcomm, Broadcom, Cathay Pacific: Sprint and T-Mobile have abandoned discussions about a potential merger after weeks of speculation. Japan's SoftBank -- which already has an 83% stake in Sprint -- said Monday that it will buy more of the stock following the collapse. | | | | Broadcom, a semiconductor device supplier that announced plans last week to switch its legal headquarters back to the United States from Singapore, is reportedly preparing a massive unsolicited bid for Qualcomm. | | | | Shares in Cathay Pacific dipped in Hong Kong after Qatar Airways announced a deal to buy about 9.6% of the airline. Air China already holds a 30% stake in Cathay. | | | | 5. Earnings: CVS Health, Michael Kors and Booz Allen Hamilton are set to release earnings before the open. | | | | AMC Entertainment, Etsy, GoDaddy, Red Robin Gourmet, TripAdvisor, Priceline and Weight Watchers will follow after the close. | | | | CVS executives could be grilled based on reports that the firm is considering buying Aetna. | | | | Etsy shareholders will want to hear how the company plans to fend off competition from Amazon, which recently said it would add a handcrafted gift section to its site. | | | | 6. Global market overview: U.S. stock futures were in negative territory. | | | | Most European markets dipped in early trading, while Asian markets ended the day mixed. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Monday -- Ways and Means Committee begins markup of tax bill; CVS, Etsy and Weight Watchers report earnings
Tuesday -- Snap earnings;
Wednesday -- First anniversary of the 2016 presidential election
Thursday -- Nordstrom, Macy's, Disney and News Corp earnings
Friday -- Consumer confidence survey released | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $55.91 | +0.27 / +0.49% | | | Gold | $1,272.10 | +2.90 / +0.23% | | | 10-yr | 2.34% | -0.00 / -0.17% | | | Euro | $1.16 | -0.00 / -0.02% | | | |
| |
Hi, let us know what you
think of this newsletter! | | | Tell us what you want to read more of... and less of.
Email your tips and feedback to BeforeTheBellFeedback@cnn.com | | |
| |
| |
| |
| | Tips, thoughts or questions are always welcome at
BeforeTheBellFeedback@cnn.com. | | | ® © 2017 Cable News Network Inc.
A Time Warner Company. All Rights Reserved.
You are receiving this message because you subscribed to
CNNMoney's "Before The Bell" newsletter.
Our Mailing address is:
Cable News Network, Inc.
Attention: Privacy Policy Coordinator
One CNN Center, 13 North
Atlanta, GA 30303 | | | | |
No comments:
Post a Comment