Russia’s President Vladimir Putin and Prime Minister Dmitry Medvedev are reflected in a mirror while visiting the Resurrection New Jerusalem Monastery at Istra, outside Moscow, Russia.Reuters/Sputnik Photo Agency
Here is what you need to know.
Stocks are flashing an ominous signal not seen since the financial crisis. Stock market dispersion is widening and some technical indicators are flashing simultaneously for the first time since early in the financial crisis.
Euro-area inflation slows down. Inflation slowed to an annual rate of 1.4% in October as telecommunication, garments and social protection had the biggest downward impacts, Eurostat data released Thursday showed.
Theresa May is prepared to double the size of Britain’s Brexit divorce bill. UK Prime Minister Theresa May is prepared to offer 40 billion pounds to the European Union for its divorce, according to reports.
Canada is stepping up its lobbying efforts to block a US pullout from NAFTA. “You need the full court press because it’s both a Democrat and Republican issue – it’s as much about workers as it is big business,” a source who requested anonymity told Reuters.
Nelson Peltz won the biggest proxy battle in history. A recount shows Peltz won his proxy battle for a seat on Proctor & Gamble’s board by 43,000 votes — a 0.002% margin — both CNBC and Bloomberg report.
The Koch brothers are reportedly backing a Time Inc. and Meredith deal. The Koch brothers have tentatively agreed to support Meredith’s offer for Time Inc. by investing more than $500 million, the New York Times says.
Cisco ends its streak of 8 consecutive quarters with declining revenue. Cisco Systems announced first-quarter revenue of $12.136 billion, a slight uptick from the prior quarter’s $12.133 billion. However, revenue still fell versus a year ago.
Stock markets around the world are higher. Japan’s Nikkei (+1.47%) was out front in Asia and France’s CAC (+0.64%) leads in Europe. The S&P 500 is set to open up 0.39% near 2,575.
Earnings reports keep coming. Best Buy and Walmart report ahead of the opening bell while Gap and Ross Stores release their quarterly results after markets close.
US economic data is heavy. Initial claims and the Philly Fed will be released at 8:30 a.m. ET before industrial production and capacity utilization cross the wires at 9:15 a.m. ET. Data concludes with the NAHB Housing Market Index at 10 a.m. ET. The US 10-year yield is up 4 basis points at 2.36%.
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