International
Asia
- Asian stock indexes slipped, as South Korean car
manufacturers Hyundai and Kia lost ground. The sell-off in the
two companies came on reports that they misled their customers
about the gas mileage of their vehicles.
- The Nikkei fell 0.48 percent; S&P/ASX 200 rose 0.32
percent; Hang Seng dropped 0.47 percent; KOSPI declined 0.55
percent; the Shanghai Composite slipped 0.14 percent.
Europe
- European stock indexes dipped today before Tuesday's U.S.
election, and as Greece worked tirelessly to obtain a bailout.
Look for action in the Vanguard MSCI Europe ETF
(NYSEArca:VGK).
- The service sector PMI in the U.K. in October fell from 52.2
in September to 50.6; analysts had expected a smaller drop, to
52. However, the data show that while the service sector is
growing at a slower pace than anticipated, it is still
growing.
Domestic
- U.S. stock futures remain unchanged ahead of Tuesday's
election. The market is also closely watching Greece's moves to
obtain further financing.
- Analysts predict that the ISM non-manufacturing index will
fall from 55.1 in September to 54.9 in October. Such a decline
would suggest monthly orders are slowing down, but they would
still be considered to be in growth territory.
Earnings
No major earnings news today.
Commodities
All commodities news is as of 7:45 a.m. ET.
Gold and Silver Climbed
- Gold rose 0.14 percent, or $2.28, to $1680.38. Expect
increases in the SPDR Gold Shares physical bullion ETF
(NYSEArca:GLD).
- Silver gained 0.10 percent, or $0.03, to $30.94. Keep an eye
on the iShares Silver Trust (NYSEArca:SLV).
WTI and Brent Oil Advanced
- The November contract for WTI crude oil ascended 0.22
percent, or $0.19, to $85.05 per barrel.
- The November contract for Brent crude oil climbed 0.02
percent, or $0.02, to $105.70 per barrel.
- Expect increases in the United States Oil Fund (NYSEArca:USO)
and in the United States Brent Oil Fund (NYSEArca:BNO).
Fund Flows
On Friday, Nov. 2, 2012, the top ETF in nominal inflows was the
SPDR S&P 500 (NYSEArca:SPY), with creations of $1.51 billion.
The top ETF in nominal outflows was the iShares Russell 2000
(NYSEArca:IWM), with redemptions of $1.08 billion.
ETF Launches
None as of yet today
ETF Filings
None as of yet today
Economic Calendar
Domestic
- ISM Non-Mfg Index - 10:00 a.m. ET
Europe
◦ CIPS/PMI Services Index - 4:30
a.m. ET
Asia/Pacific
◦ Labour cost index - 4:45 p.m.
ET
◦ RBA Announcement - 10:30 p.m.
ET
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