Here is what you need to know.
Trump is likely to appoint Jerome Powell as next Fed chairman. President Donald Trump is expected to appoint Jerome Powell, current board governor and a former private equity executive, as Federal Reserve chairman on Thursday, replacing Janet Yellen.
A key Republican who helped sink the Obamacare repeal has 2 tax demands. Republican Sen. Susan Collins told Bloomberg she wants the estate tax to remain in place and no tax cuts for people making $US1 million a year.
The Bank of Japan keeps policy on hold. The BOJ voted 8-to-1 in favour of keeping its quantitative and qualitative monetary easing with yield curve control program unchanged while holding interest rates at -0.1% and pledging to buy Japanese government bonds so that 10-year JGB yields will remain at around 0%.
China’s economy loses some momentum. China’s Manufacturing PMI for October fell to 51.6 from 52.4, but remains near its best levels since April 2014, data released Tuesday by the National Bureau of Statistics showed.
Catalonia’s fired leader flees Spain. Sacked Catalonia President Carles Puigdemont has turned up in Belgium after previously saying “I am not afraid” of being arrested for organising Catalonia’s banned independence referendum, the New York Times reports.
Iron ore dives below $US60. The spot price tumbled 2.2% to $US58.75 a tonne, leaving it at its lowest level since June 23.
Sprint and T-Mobile have reportedly decided to end merger talks. Deutsche Telekom, T-Mobile’s owner, wanted a controlling stake in the combined company, but SoftBank, Sprint’s owner, decided Friday that it preferred to retain control, the Nikkei said.
Stock markets around the world are mixed. China’s Shanghai Composite (-0.77%) trailed in Asia and Britain’s FTSE (+0.34%) is out front in Europe. The S&P 500 is set to open little changed near 2,572.
Earnings reporting remains heavy. Aetna, MasterCard and Under Armour are among the names reporting ahead of the opening bell.
US economic data flows. S&P Case-Schiller home prices will be released at 9 a.m. ET before Chicago PMI and consumer confidence are due out at 9:45 a.m. ET and 10 a.m. ET, respectively. The US 10-year yield is up 1 basis point at 2.37%.
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