Yahoo News Morning Brief: Election Day arrives as stocks hit record highs
Tuesday, November 7, 2017
What to watch today
In a quiet week for economic news, Tuesday will bring investors one of the week’s two highlights with the latest JOLTS — or job openings and labor turnover survey — report set for release in the morning while the earnings calendar picks up. Notable quarterly earnings announcements expected on Tuesday include Royal Caribbean (RCL), Tapestry (TPR), formerly known as Coach, and Marriott (MAR).
On the political side, Tuesday is also Election Day in America, with gubernatorial races in Virginia and New Jersey getting most of the attention, while a more local concern will be the mayoral race in New York City. Democrat Ralph Northam is a slight favorite to win in Virginia, while Democrat Phil Murphy is expected to win handily in New Jersey. Bill De Blasio is also expected to roll to a second term as mayor of New York City.
Meanwhile, world stocks continue to hit new record highs and traders will continue paying attention to what President Trump says as he continues his travels through Asia.
Top news
GE explores options for aircraft leasing unit: General Electric Co. is weighing options for its aircraft leasing operations, including the sale of all or part of the business, as Chief Executive John Flannery searches for new divestitures, according to sources. [Reuters]
Netflix is staring at higher content costs as Disney and Fox hold merger talks: A Disney-Fox tie-up could make life increasingly difficult and more costly for Netflix. CNBC reported on Monday that 21st Century Fox has been in talks to sell most of the company to Walt Disney. While there’s no guarantee that a deal will be finalized, the discussions point to a changing landscape in the media world. [CNBC]
Tesla acquires automated machine maker amid production problems: Tesla Inc. has acquired Perbix, a closely held maker of automated machines used for manufacturing, as the electric-car maker struggles to boost production of its most important new model. [Bloomberg]
‘Buy bitcoin’ overtakes ‘buy gold’ as online search phrase: Bullion’s rally faltered in the past two months as the dollar strengthened and global equities set new records, while concerns over Brexit and Catalonia’s push for independence failed to drum up notable haven demand. Now, bitcoin’s surge is attracting investor interest toward the cryptocurrency and away from the metal. [Bloomberg]
In Seoul, Trump calls for North Korea to “make a deal”: In a striking shift of tone, President Donald Trump abandoned his aggressive rhetoric toward North Korea on Tuesday, signaling a willingness to negotiate as he urged Pyongyang to “come to the table.” [AP]
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