JakeNovakNews.com

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STOCKS/ECONOMY


-Stock futures are flat after Wednesday's 113-point loss for the Dow and similar percentage losses for the S&P 500 and the Nasdaq. We get weekly jobless claims numbers, Mid-Atlantic region manufacturing data, and October home sales figures later this morning.

-The yield on the 10-year Treasury bond is at 1.75 percent, with the 2-year yield 17 basis points behind at 1.58 percent.

-Gold is down to the $1,469 per ounce level. Bitcoin is down to the $7,900 level.

TRADE WARS

-A Chinese Commerce Ministry spokesman said this morning that "external rumors" about the U.S.-China trade talks are not accurate. That appears to be contradicting a Reuters report published Wednesday that said the so-called "phase one" trade deal between the U.S. and China may not be signed before the end of this year. That Reuters report was the biggest reason for Wednesday's negative close for all the major stock indices. 

-China's lead trade negotiator, Vice Premier Liu He, has reportedly invited top U.S. negotiators to another round of talks.

-With the trade deal still not finalized, Congress has passed a bill calling for new sanctions on China in response to the Hong Kong protests. China has strongly rebuked the bill. President Trump is reportedly expected to sign the bill.

DEALS/NO DEALS

-Charles Schwab is reportedly in talks to buy rival discount brokerage firm TD Ameritrade. TD Ameritrade shares are up 17 percent in the premarket on the news. Charles Schwab shares are up 2 percent in the premarket. 

-PayPal is buying the online shopping plug-in app-maker Honey for $4 billion. PayPal shares are down 1.5 percent in the premarket on the news.

OIL/ENERGY

-U.S. crude prices are flat and at the $56 a barrel level.

-Gasoline prices are at $2.59 a gallon, national average.

TIM & DON

-President Trump and Apple CEO Tim Cook toured a Texas plant Wednesday where the Apple Mac Pro desktop is assembled. The president used the visit to praise Apple's expansion in Texas.

MOVING AMERICA

-GM is suing Fiat Chrysler for allegedly bribing UAW leaders in order to get a better labor deal than GM was able to secure with the union. Shares of GM and Fiat Chrysler both closed down 3 percent Wednesday.

VAPING WARS

-The Massachusetts state senate joined the state legislature and overwhelmingly passed a bill to ban flavored e-cigarette tobacco early this morning. The ban will go into effect if Massachusetts Governor Charlie Baker signs the bill.