Here is what you need to know.
Trump says his administration is ‚looking at‘ whether Amazon, Facebook and Google are violating antitrust laws. President Donald Trump told the news site Axios in an interview that aired on HBO Sunday night that the European Union’s $5 billion fine against Google made him consider pursuing regulation.
Amazon is zeroing in on a home for its HQ2. The e-commerce behemoth is is in advanced talks with Crystal City, a Northern Virginia town just outside of Washington, D.C., to be the home of its second headquarters, according to the Washington Post.
Berkshire Hathaway’s sees a big boost from Trump’s tax cuts. The Warren Buffett-led conglomerate said its operating profit in the third quarter doubled to $6.88 billion from a year ago and that it bought back almost $1 billion of stock as its insurance business dodged hurricanes and it benefited from Trump’s Tax Cuts and Jobs Act, Reuters says.
Wall Street breaks down what the midterm-election results will mean for stocks. Business Insider’s Akin Oyedele combed through Wall Street research to find out how the pros say you should play every possible election outcome.
New orders are drying up for Chinese businesses. New orders for Chinese businesses increased at a „marginal pace“ that was the weakest in 32 months according to the October reading of the Caixin-IHS Markit China Composite PMI out Monday.
Oil hits lowest level in almost 7 months as Trump’s sanctions against Iran begin. West Texas Intermediate crude oil trades down 0.52% at $62.81 a barrel, its lowest since April, as Trump’s sanctions that target Iran’s energy and financial institutions took hold at midnight.
The star investor of ‚The Big Short‘ is betting on a no-deal Brexit. „The Big Short“ investor Steve Eisman told a conference in Dubai over the weekend that he is shorting two big British banks in anticipation that the UK fails to secure a Brexit deal.
Stock markets around the world are mixed. Hong Kong’s Hang Seng (-2.08%) led the losses in Asia and Germany’s DAX (+0.44%) paces the advance in Europe. The S&P 500 is set to open little changed near 2,724.
Earnings reporting picks back up. Ferrari and Sysco report ahead of the opening bell while Avis Budget, Marriott, and Pandora release their quarterly results after markets close.
US economic data trickles out. Markit services PMI and ISM non-manufacturing will cross the wires at 9:45 a.m. ET and 10 a.m. ET respectively. The US 10-year yield is down 1 basis point at 3.20%.
Source: Business insider