Happy Halloween!!! ...Halloween, technically "All Hallows Eve" ..Where did it come from? Well, there are some that say it dates back Pope Gregory III in 735 AD. Although the Church honored them in the past, Gregory III declared November 1, "All Saints Day" to honor and pray for the "Saints" that had died and gone straight to Heaven. (November 2nd is All "Souls" Day when you pray for all the "Faithfully Departed".. which basically means the "Rest of those Christians" that died but didn't go STRAIGHT to heaven because .. well. they led "less than perfect Christian Lives" ..which puts good old RAJ squarely in the middle of the "Souls" group). ..
The Cetlic/Gaelic festival of Samhain saw people dress up as ghosts and evil spirits to scare of the REAL ghosts and evil spirits. Samhain was kind of a Celtic "New Years" that had its origins 2500 years ago. Samhain was incorporated into the Christian Calendar to coincide with All Saints Day and All Souls Day (Wear scary masks to scare off the "Bad Dead" souls you were about to summon at your All Saints Festival) and subsequently brought to the USA in the 19th Century when the Irish emigrated en masse to America during the Potato Famine. (or Potatoe, if you're Dan Quayle) ... now...
There are other "stories" about how we came to today's "Halloween" where kids beg for candy and girls dress like hookers .. But, the explanation: "A Lot of Irish Guys who have the next day off for a Holy Day.. getting REALLLLY drunk, dressing like freaks, running around trying to scare each other" ?? That sounds VERY believable to me !!!!
..to the NEWS...
Protests in Chile have led to the cancellation of the Asia-Pacific Economic Coop (APEC) Summit next month. President Sebastian Pinera said that it causes them "a lot of pain" but security cannot be guaranteed amid the raging protests over austerity measures. This is significant to the US and China because it is at the APEC Summit that President Trump and Chinese Leader Xi were supposed to meet to sign the "Phase One" agreement that would lead to easing of tariffs and trade tensions. The White House was caught off guard by the cancellation and had no comment about "what happens now??" .. and..
Back in the USA: Former President Obama spoke at the Obama Foundation Event in Chicago and addressed a group of young "activists". He explained the idea of being "politically woke" and "Cancel culture" is NOT activism. He said, “This idea of purity, and you’re never compromised, and you’re always politically ‘woke’ and all that stuff, you should get over that quickly. The world is messy. There are ambiguities. People who do really good stuff have flaws.” .. So, you think any of them will listen? I doubt it.
What is happening on campuses has nothing to do with Liberal vs. Conservative.. or traditional, "Politics". The Radical Left (to be clear, NOT Liberals.) The Radical Left are tyrannical, fascist types that want to push their warped, anti-American views on America and demand that those that disagree with them be silenced. Liberals and Conservatives discuss ideas..and opinions.. and might disagree but DO agree that Americans have a RIGHT to free speech and a RIGHT to disagree. (Like many of you reading this.) .. You should all FEAR the Radical Left because they are a smattering of Marxist, Post Modernists with little education in history. They HATE America the way it is and see Socialism or Communism as a better way of life. (Because our Flawed Education system doesn't teach them about the 100 million people that died due to Communism in China and the Soviet Union 100 years ago). Watch out, these people are teaching YOUR kids and brainwashing them with this crap... (Sorry..didn't mean to get to far off into a rant there.. but.. This IS a RANT you are reading!!)....and....
The Fires still rage in California. Some in the Loser Media are FINALLY starting to ask the RIGHT questions! (Meaning, why aren't they calling out the politicians for the STUPID policies that are CAUSING the problem?? .. One great story in the middle of this mess is the Reagan Presidential Library. The fires approached the library but it didn't burn. Why? ....Goats!! ..Over the past years they have imported Goats. The goats eat the dead grass and vegetation around the library creating a buffer zone. Natural Lawn mowers and brush removers. Genius!! .. and...
Down in the Swamp: No more political ads on Twitter. With the controversy over censorship and "making false statements" and "Foreign actors interfering with elections" Twitter has made the decision to NOT to deal with it.. They will NOT allow political ads. (This doesn't mean politicians cannot tweet. They just cannot buy ads that fill up your feed). .... and... The vote on whether to go forward with the Impeachment Inquisition will likely take place today. Fitting its on Halloween, eh? ... and..
EXPOSED. Through process of elimination, the "Whistleblower" that sparked the "Impeachment" Inquisition has been "Found out". (Well, Realclear Politics says they know). CIA analyst Eric Ciaramella. It's pretty obvious why officials did not "follow up" when he initially voiced his concerns. The Inspector General cited, "potential political bias". Uh.. THAT is an understatement. Ciaramella is a registered Democrat that worked for Obama, Biden, then former CIA Director Brennan (who might be indicted before year end in the Durham investigation) and with the DNC team tasked with "Digging up Dirt on the Trump Campaign".. Ciaramella was removed from his NSA post in the "West Wing" in 2017 after being suspected a "leaker" sending reporters "dirt" on Trump. So, this guy MAY be the leaker.. and if he is.. and they started this whole mess over a the concerns of THIS guy? Good God will that be embarrassing.. (Actually, it SHOULD be embarrassing.. but Politicians have no shame)..
SPORTS: Greinke was CRUISING, made ONE mistake.. and got YANKED. I guess in Game 7 with ALL pitchers available you cannot blame a coach for bringing in a reliever in the 7th. But, In came Harris. HOME RUN Kendrick..and the Nationals go on to win 6-2. The first World Series Championship in Washington since 1924 !! (It's the first for the Nationals.. but in 1924 the Senators, now the Twins, beat the Giants). Also, this is the First World Series (and I think ALL major sports) where it went to seven games and the Home Team NEVER won! .. and..
NBA: Big stories in the NBA. Golden State is in trouble as superstar Steph Curry breaks his hand. He will be out 6-8 weeks.. in Philly, Karl Anthony Towns (KAT) and Joel Embid were ejected for fighting. Embid was "being himself" and playing hard and dirty and eventually got Towns to snap. He tackled Embid but KAT ended up being choked out. (Video appears to show KAT actually, "Tapping out") .. and then there was the Rockets/Wizards game. Houston wins 159-158. No, not in OT. That is a REGULATION score. I guess defense wasn't allowed in that one? .. and..
GOLF: Local Favorite Haotong Li leads after one round in China at the WGC-HSBC.. and.. The Regular PGA Tour event starts today in Bermuda ...
CELEBRIDIOTS: The video is OUT!!! But what does it mean? Actor Cuba Gooding Jr was accused of sexual assault at a NY Night Club and police charged him because there is video showing the incident... Or IS there? It shows Gooding brushing into the accuser who then grabs his arm and there is a heated discussion (the video has no audio). But, there is no actual evidence he grabbed or pinched her butt. Is THAT the line for conviction? "If the Fingers Don't Grip-- You MUST Acquit !!!!" ... Singer Selena Gomez is SINGLE!! She wants you ALL to know that!!! She says just because she was seen talking to an Ex does NOT mean she is reconciling!! That's right, Selena. Just relax at the Raj tub and tell the rest of those whackos to leave us alone. .. If you want to look at Famous People dressing up for Halloween HERE you go.. If you only want to look at the Hot ones.. HERE you go..
Happy Halloween. Come on by.. I'm one of those FULL SIZE candy bar houses!!! (Why is it that adults say things like, "I don't want a Full Size candy bar. That's too much" ..but they have NO PROBLEM eating 12 "Fun Size" ones???)
Fiat Chrysler and Peugeot owner PSA have officially agreed to join forces through a 50-50 share swap, creating the world's fourth-largest automaker. "In a rapidly changing environment, with new challenges in connected, electrified, shared and autonomous mobility, the combined entity would leverage its strong global R&D footprint and ecosystem," the companies said in a statement. The deal calls for paying a special dividend of €5.5B to Fiat (NYSE:FCAU) investors and for PSA (OTCPK:PEUGF) to spin off to its shareholders a €3B stake in parts maker Faurecia (OTCPK:FURCF). It's also likely to be approved by the French government, which shot down a merger with PSA's French rival Renault (OTCPK:RNLSY) just five months ago.
Ford (NYSE:F) has reached a tentative agreement with the United Auto Workers union on a new labor contract for its U.S. workers, likely avoiding a strike that cost its larger rival General Motors (NYSE:GM) about $3B. The deal includes $6B in new investments from Ford and the creation and retention of more than 8,500 jobs. Other details were not disclosed, but they are expected to follow the basic pattern set in the GM contract, which includes lump-sum payments and annual pay increases that lift production wages up to $32.32/hour by 2023. Go deeper: Ford's 4Q guide indicates all is not well, says Bernard Keightley.
Up for most of the night after the Fed cut rates for the third time this year - and indicated the possibility of a pause in the easing cycle - U.S. stock index futures are turning around sharply. The DJIA is now pointing to a 100-point decline at the open following a report from Bloomberg that said Beijing has doubts about reaching a comprehensive long-term trade agreement with the U.S. Chinese officials have warned they won't budge on the thorniest issues and they remain concerned about President Trump's impulsive nature, as well as the risk he may back out of even the limited deal both sides say they want to sign in the coming weeks.
Showing it has life beyond the iPhone, Apple (NASDAQ:AAPL) beat Wall Street's fiscal fourth-quarter expectations and issued strong guidance for the holiday quarter. The stock rose 2% AH on a big boost from its Wearables, Home & Accessories segment, which saw revenue grow 54% Y/Y, comfortably beating a $5.94B consensus. Facebook (NASDAQ:FB) shares also traveled upward, rising 4.6% AH, as strong double-digit gains were seen across nearly all metrics. Go deeper: 'Apple: These Numbers Will Work' writes Bill Maurer.
Twitter (NYSE:TWTR) will ban political advertising on its platform next month in an apparent swipe at Facebook (FB), which has received criticism in recent weeks over its policy to neither fact check nor remove political ads placed by politicians. "We believe political message reach should be earned, not bought," Twitter's Jack Dorsey declared. Paying for reach removes individual decisions to follow an account or retweet, he points out, "forcing highly optimized and targeted political messages on people. We believe this decision should not be compromised by money." TWTR -2% premarket. Go deeper: Michael Wiggins De Oliveira says Twitter's bugs dampen its outlook for Q4.
Samsung Electronics' (OTC:SSNLF) operating profit for the three months ending in September fell 56% versus the same period a year ago. While that number ticked up almost 18% from the previous quarter and beat the company's own guidance from earlier this month, Samsung expects "demand for components to turn sluggish in general amid weak seasonal effects." Analysts say there could be a slow recovery in the semiconductor space, with chipmakers struggling due to low prices and demand for memory chips.
The Hong Kong Monetary Authority chopped its policy rate by 25 basis points overnight, tracking the Federal Reserve as obligated by Hong Kong’s currency peg with the greenback. Two of Hong Kong’s biggest banks, HSBC (NYSE:HSBC) and Standard Chartered (OTCPK:SCBFF), also cut their key benchmark rates in the city, their largest market, which officially fell into a recession amid the months-long protests. The economy shrank 3.2% in Q3 from the period just before, marking the worst quarter-to-quarter drop since 2009.
Factory activity in China contracted for the sixth straight month in October and by more than expected, while service sector growth eased as companies face the weakest economic growth in nearly 30 years. Weighed down by slowing global demand and the Sino-U.S. trade war, the manufacturing PMI fell to 49.3, versus 49.8 in September, according to the country's statistics bureau. The figures will heap pressure on policymakers to roll out more stimulus to avoid a sharper slowdown and job losses.
The Trump administration still expects to sign an initial trade deal with China next month, even as Chile said ongoing protests in the country would prevent it from hosting the APEC summit, where both sides were expected to finalize the accord. Chinese officials also voiced optimism that Beijing and Washington can find a way to clinch the so-called Phase One trade agreement in November. Bilateral talks will continue to proceed as previously planned and the lead trade negotiators from both countries will speak by telephone on Friday.
More than 172M Americans plan to celebrate Halloween this year and are expected to spend about $8.8B on the holiday, according to the National Retail Federation. That's the third-highest figure in the survey's 15-year history, after the record $9.1B set in 2017. "We are seeing a noticeable increase in consumers whose Halloween purchases are inspired by their friends, neighbors and even celebrities on social media," NRF President and CEO Matthew Shay said. "Retailers expect to have another strong Halloween season and have stocked up on candy, decorations and the season’s most popular costumes."
What else is happening...
Wednesday's Key Earnings
Apple (AAPL) +2% AH as iPhone, Wearables drove beats. Facebook (FB) +4.6% AH amid double-digit Q3 gains. General Electric (NYSE:GE) +11.5% on beat, FCF guidance raise. Lyft (NASDAQ:LYFT) +2.2% AH blasting past sales estimates. McKesson (NYSE:MCK) -8.4% as U.S. drug unit margins compressed. Molson Coors (NYSE:TAP) -3.1% with reorganization on tap. Southern Company (NYSE:SO) +2.8% posting impressive Q3 beat. Starbucks (NASDAQ:SBUX) +3% AH on strong U.S., China sales growth. Twilio (NYSE:TWLO) -7.8% AH giving disappointing forecast. Western Digital (NASDAQ:WDC) -9.9% AH announcing CEO succession plan. YUM! Brands (NYSE:YUM) -5.8% after comp sales miss.
In Asia, Japan +0.4%. Hong Kong +0.9%. China -0.4%. India +0.2%. In Europe, at midday, London -1%. Paris -0.6%. Frankfurt -0.5%. Futures at 6:20, Dow -0.4%. S&P -0.4%. Nasdaq -0.3%. Crude -0.3% to $54.89. Gold +0.8% to $1507.90. Bitcoin -1.7% to $9028. Ten-year Treasury Yield -5 bps to 1.74%
Today's Economic Calendar
7:30 Challenger Job-Cut Report 8:30 Initial Jobless Claims 8:30 Personal Income and Outlays 8:30 Employment Cost Index 9:45 Chicago PMI 10:30 EIA Natural Gas Inventory 3:00 PM Farm Prices 4:30 PM Money Supply 4:30 PM Fed Balance Sheet