10 Things You Need To Know This Morning

taylor swift

Photo: Steven Lawton/Getty Images

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

  • Asian markets were mostly higher in overnight trading, with the Nikkei hitting a four-week closing high on speculation of Bank of Japan easing. Europe is rallying and U.S. futures are modestly higher.
  • UK GDP grew 1 per cent in the third quarter, beating expectations of a 0.6 per cent gain. The Olympics helped boost economic growth which accelerated to a 5-year high. Now see the 20 fastest growing economies in the world >
  • In earnings news, Apple is expected to report earnings of $8.85 per share after the closing bell. Meanwhile, Procter & Gamble reported earnings of $0.96 per share in line with expectations. The company raised its full-year guidance to $3.80 to $4.00 a share.
  • As the presidential election nears, Obama’s campaign has released a 27-point plan on how he intends to use his second term in office. The plan is broken up into seven different parts that include manufacturing, energy, small businesses, education, taxes and the deficit, healthcare, and Medicare and Social Security.
  • Zynga missed expectations when it reported third quarter loss of $0.07 per share, but beat on revenue. It confirmed the layoff of 150 employees and announced a $200 million share repurchase plan. The stock is up over 15 per cent in pre-market trading.
  • Credit Suisse said it will layoff more workers as it tries to reduce costs by $1.1 billion. The bank’s profit fell 63 per cent in the third quarter.
  • Lending to eurozone companies fell 0.8 per cent year-over-year in September.  Loans were also $26 billion lower than in August, showing that ECB efforts to boost lending have had little impact.
  • Durable goods for September jumped 9.9 per cent and initial jobless claims fell to 369k. Economists polled by Bloomberg expected new orders to rise 7 per cent month-over-month, and initial claims are expected to decline to 372K.
  • Sudan has accused Israel of launching an air strike on a military factory near Khartoum that killed two people. The government has asked the UN security council to condemn the attack, and a Sudanese official has threatened to retaliate.
  • Pending home sales missed big in September rising 0.3 per cent, against expectations of a 2.1 per cent gain. The Kansas city Fed manufacturing index for October will be out at 11 a.m. ET. Analysts polled by Bloomberg expect the manufacturing index level to rise to 4. Follow the release at Money Game >
  • Bonus – Taylor Swift told Ellen DeGeneres that she didn’t want to name the ex-boyfriends that her break-up songs were inspired by, because she didn’t want to get angry emails from them.
BI Intelligence

BI Intelligence, a new subscription research service from Business Insider, provides in-depth insight, data, and analysis of the mobile industry.

Access all reports, research updates, presentations, data and chart libraries plus much more with your free trial.

Click here to start your subscription>>

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.