Rise and shine Traderade family
In the spirit of Thanksgiving, we at Traderade would like to say that we are grateful that you’ve given us a chance and joined us on this journey to become better traders and investors. We wish you and your loved ones a very Happy Thanksgiving!
Today is also FOMC meeting minutes day - releasing at 2pm ET. If you haven’t already, check out Mayhem’s post from yesterday discussing the minutes and the state of the markets.
Asia and Australia
Workers stage violent protests at Foxconn's main iPhone-making factory in China. These unrests are becoming more frequent and progressively violent as China continues to battle higher Covid numbers.
Shanghai restricts entry into the city amid worsening Covid outbreaks in other regions. For what it worth, the reopening story seems to be dead for now.
The RBNZ raised raised by 75bps and is debating whether to raise 100bps the next time around.
Chinese authorities are poised to impose a fine of more than $1B on Ant Group, which sets the stage for an end to the company's two-year regulatory overhaul
Europe, Middle East, Africa
Eurozone economy showed signs of improvement in November with flash composite PMI at 47.8 versus consensus 47.0 and prior 47.3.
UK flash PMI shows pace of economic downturn has moderated somewhat with composite reading at 48.3 versus consensus 47.5 and prior 48.2
Economists expect the BoE to hike rates by 50 bps in December
Volkswagen agreed to two-year wage deal for workers at western German factories, offering 8.5% more pay
EU Considers Imposing Price Cap of $65-$70 on Russian Oil
The Americas
White House extends student loan repayment pause through 30-Jun debt as Biden's debt forgiveness plan faces legal challenges
HP will cut up to 6K jobs over next three years amid forecast decline in PC sales
Deere Q4 22 Earnings double beat:
EPS $7.44 (est $7.09)
Net Sales $15.54B (est $13.38B)
Net Income $2.25B (est $2.13B)
Sees 2023 Net Income $8.0B To $8.5B (est $7.81B)
Calendar