Good morning. Here’s what you need to know:
- Asian indices were mostly higher overnight, though the Shanghai Composite was down 0.68%. European indices are all trading higher and U.S. futures suggest a positive open. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- Initial jobless claims fell to 452,000, beating expectations. Read the full report here >
- The Philly Fed Index, judging economic activity throughout the region, is released at 10 AM ET. The consensus is for a positive 1. Follow coverage of the release at Money Game >
- Chinese GDP growth slowed in Q3 to 9.6% year-over-year, after reaching 11.9% in Q1 and 10.3% in Q2. Inflation increased, even through the economy slowed down, with consumer prices rising 3.6% in September. Check out 15 facts about China that will blow your mind >
- Russia plans to sell 15% of the country’s largest oil producer, Rosneft, in an effort to raise funds. The move is part of a government plan to raise $59 billion though sales of state owned companies and other assets.
- Nokia turned a profit in Q3, a sharp improvement over Q3 2009’s €559 million loss. The company’s net profit was €529 million in Q3, and Nokia plans significant workforce cuts to find new efficiencies.
- BBVA is in talks to buy a position in a Turkish bank now owned by GE. The 21% stake in Garanti Bank, a growing Turkish bank, is valued at $4.9 billion.
- German and French manufacturing growth is propping up the rest of the eurozone, according to a recent report from Markit. The continent’s PMI remains above the all important 50, at 53.4, but output is falling outside of Germany and France. Here’s why Europe is doomed to crisis after crisis >
- One fourth of all French gasoline stations are empty as a result of the protests sweeping the country. Access to all of the country’s refineries and some of its fuel warehouses has been blocked by protesters. Check out some videos of the protests here >
- Retail sales have fallen for the second month in a row in the UK, down 0.2% in September. This may trigger further quantitative easing from the Bank of England, as the country pushes forward with austerity cuts to its budget.
- Bonus: Beyonce is pregnant with her first child, according to Us Weekly.