JakeNovakNews.com

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​STOCKS/ECONOMY


-Stock futures are a bit higher after Monday's 57-point gain for the Dow and greater percentage gains for the S&P 500 and the Nasdaq. We get more key earnings reports this morning from McDonalds and Lockheed Martin, plus the numbers on September existing home sales.

-The yield on the 10-year Treasury bond is holding at 1.78 percent, while the 2-year yield is at 1.60 percent.

-Gold is still below the $1,500 mark at the $1,490 level. Bitcoin is up near the $8,300 level.

TRADE WARS

-China's Vice Foreign Minister Le Yucheng says the U.S. and China have made some progress in recent trade talks, adding that the world wants the two countries to end their trade dispute.

OIL/ENERGY

-Today's U.S.-China trade optimism is sending U.S. crude prices a bit higher, but still at the $53 a barrel level.

-Gasoline prices are at $2.64 a gallon, national average.

BOEING MAX MESS

-After falling almost 4 percent Monday and almost 7 percent on Friday, Boeing shares are up about 0.6 percent this morning. It could be due to a Seattle Times story that quotes two sources who say newly-revealed 2016 internal company messages were about problems with a 737 MAX jet flight simulator, and not the 737 MAX jet software that was later installed in the actual jets.

UBS WOES

-Swiss bank UBS continues to struggle, as it just reported a 16 percent drop in third quarter profits and a 59 percent decline in its investment banking unit. But UBS shares are about 1.5 percent higher in this morning's overseas trading.

WE DON'T WORK


-SoftBank is moving to take control of WeWork, putting the overall valuation of the company at about $8 billion. The deal would signify significant losses for both SoftBank and WeWork, compared to the $100 billion valuation SoftBank once projected the company's future value could be.

CANADIAN ELECTION

-Canadian Prime Minister Justin Trudeau has won a second term, but his Liberal Party lost its majority and Trudeau will preside over a minority government.

BREXIT BATTLES

-The U.K. parliament will vote on Boris Johnson's Brexit deal later today. The result is expected to be extremely close and could go either way.

DISNEY GENDER PAY BATTLE

-Disney is asking a Los Angeles County judge not to allow a gender pay gap case filed by 10 female employees to gain class action status.

WEALTH TRANSFER

-A new report shows there are more wealthy people living in China than there are in the U.S. for the first time.