- The Japanese economy contracted in the third quarter, pushing the country into its fourth recession in five years, despite quantitative easing by the Bank of Japan, dealing a blow to what has become known as "Abenomics". The world's third-largest economy shrank by an annual 0.8% in July-September after a 0.7% contraction in the prior quarter.
- Safe haven assets such as gold have risen while share prices opened lower in Europe, led by travel and tourism stocks, following the terrorist attacks in Paris on Friday. Developed markets bonds have been drawing buyers, who pushed up the prices and depressed yields.
- Greece and its creditors have not yet agreed on all the issues that Athens must implement in its bailout program in exchange for money, the head of the Eurogroup said. The country needs to get a positive review of its reform progress to get the next tranche worth 2 billion euros ($2.15 billion) of loans, as well as up to 10 billion euros to help recapitalize its banks. Talks have been dragging on since mid-October.
- Major oil companies have pledged to protect dividends despite a fall in earnings, the Wall Street Journal reports. The companies say they have robust balance sheets that give them flexibility to raise more funds to help cover costs when needed.
- Textron (TXT), the parent of Cessna, is to announce plans to launch a new business jet, the Cessna Citation Hemisphere, according to the Wall Street Journal. Demand for business jets has been propped up by relatively robust U.S. business, whereas in countries like Russia, Brazil or the Middle East it dwindled as oil prices fell.
More from Markets
Those looking to either remain long or get long the precious metal from these levels should do so in a skeptical manner.
How the battle of value vs. growth stocks is resolved, we will have to wait and see.
Chocolate makers, like Hershey, are benefitting from the at-home urge to munch. Buy this stock alongside Clorox for a win-win pandemic pair.
Both were greeted with derision and a cascade of selling from the flock of disappointed souls. I'm going the other way, the way history tells us to go.