IN THE NEWS
Benzinga
As automakers develop autonomous vehicles, it’s not the finish date that’s important — it’s when the technology is ready for the road, Ford Motor Company F Executive Chairman Bill Ford said Tuesday: Link
AK Steel Holding Corporation AKS steeply declined Thursday on a 150-percent earnings-per-share miss and 29-percent earnings before interest, taxes, depreciation and amortization miss: Link
October turned out to be a month of plenty for biotech investors, with several potential treatment candidates knocking at the FDA altar. The make-or-break FDA review event usually creates volatility in the space, offering an excellent opportunity for traders to make profits: Link
Wall Street Journal
Federal Reserve officials are unlikely to change short-term interest rates at their two-day policy meeting that concludes Wednesday, but they could provide clues on whether they remain on track to raise borrowing costs again before year’s end: Link
Gold prices are rallying, but retail gold dealers and shops are struggling to survive: Link
Reuters
Chinese vendors have slashed the price of Apple’s AAPL iPhone 8 by up to a fifth in a bid to lure customers amid sluggish demand ahead of the launch of the tech giant’s much-anticipated iPhone X on Friday: Link
Bitcoin climbed to a new all-time high of $6,450 on Wednesday, boosted by bets the cryptocurrency could enter the financial mainstream after the world’s largest derivatives exchange operator said on Tuesday it would launch bitcoin futures: Link
Bloomberg
House tax writers pushed back the reveal of their highly guarded, long awaited tax bill by a day, a sign that disputes among Republican lawmakers are threatening their effort to pass comprehensive legislation by Thanksgiving: Link
The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They’ve also turned an underwriting profit every year since 2002. That streak could be coming to an end: Link
ECONOMIC DATA
- Data on motor vehicle sales for October will be released today.
- USA ADP Employment Change for Oct 235.0K vs 200.0K Est; Prior 135.0K
- The manufacturing PMI for October is schedule for release at 9:45 a.m. ET.
- The ISM manufacturing index for October will be released at 10:00 a.m. ET.
- Data on Construction spending for September will be released at 10:00 a.m. ET.
- The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.
- The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET.
ANALYST RATINGS
- BTIG upgraded Popular BPOP from Neutral to Buy
- JP Morgan upgraded American Airlines AAL from Neutral to Overweight
- JP Morgan downgraded Under Armour UAA from Neutral to Underweight
- JP Morgan downgraded JetBlue JBLU from Overweight to Neutral
- Lake Street downgraded Diebold DBD from Buy to Hold
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