REUTERS/Joshua RobertsAn engineer makes an adjustment to the robot ‘The Incredible Bionic Man’ at the Smithsonian National Air and Space Museum in Washington, October 17, 2013.
Good morning. Here’s what you need to know.
- Asian markets were relatively flat, with Japan’s Nikkei up 0.13%; Hong Kong’s Hang Seng down 0.52%; and Korea’s KOSPI up 0.15%. European markets were also mixed, as were U.S. futures.
- This morning we saw the Burea of Labour Statistics jobs report that was postponed during the government shutdown. The U.S. added just 148,000 jobs in September, missing economist expectations of 180,000. The unemployment rate fell to 7.2% from 7.3%.
- Long-term unemployment — a labour market indicator that Fed chair nominee Janet Yellen has said she keeps an eye on — dropped from 4.29 million to 4.15 million, according to the BLS household survey.
- Apple will hold its second big product announcement event today at 1 p.m. EST. Expect the company to announce a new iPad, iPad mini, launch date for the new operating system, and more.
- DuPont beat earnings expectations this morning, announcing a Q3 EPS of $0.45 per share compared to $o.43 per share a year ago. Third quarter net sales came in at $7.7 billion, with volume up 9% versus last year.
- Bitcoin — everyone’s favourite cryptocurrency — continued its big surge this morning, with prices blowing past $US200 on Mt. Gox. After the abrupt closure of famed internet drug bazaar Silk Road, many expected the digital currency to collapse. That clearly hasn’t been the case — at least not yet.
- A strange story emerged yesterday when it was revealed that Israeli Prime Minister Benjamin Netanyahu offered Larry Summer Israel’s chief central banking job. Summers declined, and the situation actually mirrored what happened in the U.S. Like President Obama choosing Janet Yellen, Netenyahu went with Karnit Flug, the first woman to become Governor of the Bank of Israel.
- Netflix reported earnings after the closing bell yesterday, posting $US1.11 billion in revenue and $US0.52 EPS, a big beat. The stock surged in after hours trading. As our Sam Ro noted, the movie streaming company finished 2012 at $US92. It reached $US390 after-hours.
- President Obama acknowledged Monday that the Affordable Care Act’s website rollout has been flawed. “There’s no sugar-coating it,” Obama said at an event in the White House’s Rose Garden discussing Healthcare.gov’s glitches. “The problem has been that the website that’s supposed to make it easy to apply for and purchase the insurance is not working the way it should for everybody,” he said. “Precisely because the product is good, I want the cash registers to work, I want the checkout lines to be smooth, so I want people to be able to get this great product. And there’s no excuse for the problems. And these problems are getting fixed.”
- Mining giant BHP Billiton has raised its iron ore production forecast for 2014 to 212 million tonnes thanks to operations in Western Australia, which achieved record output in July-September, Agence France Presse reports. BHP, the world’s largest diversified miner, said that overall commodity production had spiked 11% year on year in the three months to September 30.