Monday Morning Reads
Reads:
- EU expected to make decision on Italy budget Tuesday (EWI). Reuters Report
- The Trump Administration is considering changing definition of currency manipulation which could impact China (FXI). Bloomberg Report
- President Trump told reporters that a new tax cut might come before the midterms (Note: This will not be able to get 60 votes in the Senate —TAXES). CNN Report
- EU and Singapore have agreed to free trade deal (VGK, EWS). Bloomberg Report
- It could take years for EU lawmakers to approve trade framework with United States (VGK). WSJ Report.
- Saudi Arabia has admitted that journalist Jamal Khashoggi is dead following a fight, many are skeptical of this. President Trump finds this credible, but said he will work with Congress about potential sanctions (KSA, USO, XLE). NY Times Report
- In a follow up interview, President Trump criticized Saudi Arabia for deception and lies, however he is open to the possibility that Saudi Crown Prince Mohammed bin Salman did not order Saudi agents to kill Jamal Khashoggi (KSA, USO, XLE). Washington Post Interview
News:
- Italy remains defiant on spending plans
- Saudis rule out oil embargo replay
- Aerospace roundup: Another F-35 customer, Bombardier lawsuit
- Alibaba opens new U.K. data centers
- Iraq lines up GE, Siemens for power work
- Accenture acquires DAZ Systems, Inc.
- Chinese stocks jump most in two years
- Polaris beats by $0.30, beats on revenue
Futures:
Premium:
From The Weekend:
- Positive views on BABA, TCEHY. Barron's Report
- Positive view on Berkshire (BRK.B). Barron's Report
- Positive view on Citizens (CFG). Barron's Report
- Positive view on Under Armour (UA, UAA). Barron's Report
- Positive views on YUM, YUMC, PBR. Barron's Report
- President Trump plans to pull out of nuclear weapons agreement with Russia, claiming that Russia violated the terms. Russia calls this move dangerous (RSX). Bloomberg Report
- UBS (UBS) has warned staff on China travel. Reuters Report
- Audi's (VWAGY) first electric SUV will be delayed by 4 weeks (TSLA). Reuters Report
- Colorado ballot measure in November could further restrict oil production (SRCI, APC, NBL, PDCE). WSJ Report
- Fiat (FCAU) plans to sell Magneti Marelli to KKR (KKR). FT Report
- Blackstone (BX) to purchase Ulterra for $700 mln. Reuters Report
- Oil producers want to increase export terminals (FRO, NAT). WSJ Report
- Tillman Fertitta offer to purchase Caesars (CZR) will likely be rejected. NY Post Report
Earnings:
Some implied moves for earnings next week:$CAT 5.7%$MCD 4.0%$VZ 3.4%$BIIB 6.7%$IRBT 14.9%$COF 4.3%$ILMN 7.2%$EW 7.7%$T 3.9%$BA 4.9%$UPS 5.2%$V 4.3%$F 5.6%$ALGN 8.8%$NOW 7.6%$INTC 5.9%$MSFT 5.6%$TWTR 13.1%$SHOP 9.7%$GRUB 12.5%$AMZN 7.6%$GOOGL 6.2%$CMG 7.9% https://t.co/HFgkT7i6BU
— Option Millionaires (@OMillionaires) October 20, 2018
Todays Open Interest Changes: