10 Things You Need To Know Before The Opening Bell

Denise Richards

Photo: Wikimedia Commons

Good morning. Here’s what you need to know:

  • Asian markets were all lower in overnight trading, except the Nikkei, which was up 0.10%. European indices are mostly down in early morning trading and U.S. futures suggest a lower open. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
  • Durable goods orders came in way better than expected, growing 3.3% in September. Check out the details here >
  • New home sales for September are expected to be 300,000 annualized. Follow coverage of the release at 10:00 AM ET at Money Game >
  • China moved its currency peg higher last night, weakening the yuan. The currency was reset to 6.69 yuan to the dollar last night, a surprising, if modest, move.
  • South Korea’s GDP growth for Q3 disappointed, falling to 0.7% growth. Expectations were for 0.8% growth. The country’s currency rose 7.2% against the dollar in Q3 , the highest rise in Asia. Check out what emerging economies are doing to fight hot dollar flows >
  • Greece’s Prime Minister’s populist rhetoric is increasing pressure on the country’s bonds and the euro. Yields on the country’s 10-year bonds have spiked close to 10% and CDS on Greece’s debt is widening too, now up 54 bps to 735. Reminder, here’s who gets slammed in a Greek default >
  • Deutsche Bank beat Q3 estimates, but still reported a significant loss. The company had a net loss of €1.21 billion, partially due to the costs associated with taking over Postbank.
  • Heineken missed revenue expectations due to declining sales in developed markets. Revenue for the company declined 2.1%, while expectations saw a more modest decline of 0.4%.
  • Proctor & Gamble reported basically in-line earnings, that slightly exceeded earnings estimates but came in short of revenue estimates. Shares are up a touch pre-market.
  • The Fed is likely to go through with a more modest version of quantitative easing 2 due to disagreement on the FOMC about the program, according to the WSJ’s Jon Hilsenrath. Here’s why quantitative easing 2 won’t work alone >
  • Bonus: Denise Richards, mother to Charlie Sheen’s children, has described their relationship as “very eventful” recently. Sheen was found with an alleged call girl in a New York City hotel.

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