Asian markets closed generally lower after downbeat Chinese data and a surge in the dollar. In Europe, markets started the month lower. Apple plans an investor call on Monday before issuing a bond, according to a media report.
Here are five things that matter for markets now:
- The U.S. dollar jumped to a seven-year high vs. the yen after the Bank of Japan last week unexpectedly upped its quantitative easing program. The dollar also hit a two-year high against the euro.
- Apple (AAPL) plans to hold a call with investors later on Monday before planning to issue bonds, the Wall Street Journal reports. Apple was last in the bond market with a $12 billion issue in April, which attracted bids of more than $40 billion. It used the proceeds to pay for share buybacks and dividends.
- Chinese data released at the weekend and Monday pointed to renewed weakness. The official manufacturing PMI released at the weekend came in at 50.8 for October, lower than September's 51.1 reading. Services also fell slightly, with the non-manufacturing Purchasing Managers' index at 53.8 in October from September's 54.
- Europe's biggest bank HSBC (HSBC) missed analyst expectations, posting a profit of $4.6 billion in the third quarter vs. estimates of $5.46 billion. Revenues came in line with expectations at $15.8 billion, 5% higher than in the same quarter of last year.
- French-based Publicis, the world's third-biggest advertising agency, has agreed to buy U.S. digital ad specialist Sapient (SAPE) for $3.7 billion in cash. The deal represents a premium of 44% on Friday's close for Sapient's shares.