World News – GB – Live stock market news: Stocks climb as investors seek to recoup losses from last week

Stocks jumped on Monday ahead of a busy week of events that could move markets on Election Day in the US, a Federal Reserve meeting, the October jobs report and a host of of business results are all on deck

Equity investors have at least temporarily looked past an ever-growing number of COVID-19 cases at home and abroad, leading to a slew of new restrictions keeping in place at overseas England is set to enter lockdown from Thursday, which could lead Deutsche Bank economists to forecast a 6% to 10% month-over-month drop in gross domestic product (GDP) in November in the region Last week, other European countries, including France, Germany, Spain and Italy, also tightened restrictions to try to curb further spread of the virus

Equities have also looked to recover gains after falling sharply last week The S&P 500’s weekly drop of 5 on Friday, 6% was its worst since March and brought the index’s monthly drop to 28% for October. Shares of Honeywell (HON) and Dow Inc (DOW) were among the outperformers of the 30-stock Dow Jones Industrial Average at the start of the session, after the index slipped more than 6% last week

Other asset classes, however, remained weak and extended last week’s declines Domestic crude oil prices (CL = F) fell more than 25% on Monday morning to fall below $ 35 on barrel and hit its lowest level since May, with further restrictions in Europe raising concerns over even weaker travel and fuel demand The dual concern of a supply glut also arose as oil production crude in Libya rose further to approach the rate of 1 million barrels per day – a target the country expects to surpass next year

The impending U elections also remain a priority for many investors, with many admitting that the election outcome might not become immediately clear after Tuesday, given this year’s skyrocketing of early and postal votes Some experts, however, have warned against any attempt to invest in the short term based solely on the expected outcome of the election and the expected market movements that could result from it.

« We remember the terrible predictions of many experts and commentators on the reaction of the stock market to M Trump’s surprise election victory in 2016, ”said John Stoltzfus, chief investment strategist at Oppenheimer Asset Management on Monday In the middle of the 2016 presidential election, contracts on the S&P 500 traded lower overnight, but then surged to close more than 1% in November 9 post-election day

<p on the strength of fundamental indicators such as employment, income growth, monetary policy and the next tranche of fiscal policy support, when it arrives ", added Stoltzfus" In our opinion, investors would be better off served to keep shopping lists handy for those "babies that might be thrown out with the bathwater" and take advantage of any drama to grab shares of favorite companies at lower prices"

The top three indexes added to mid-morning gains on Monday, led by the Dow Jones with a rise of over 460 points, or around 18% The Nasdaq added around 11%, and the S&P 500 gained about 15%

The Materials, Industrials and Healthcare sectors led gains in the S&P 500, and every major sector was in positive territory Facebook, Tesla and Netflix were among the big names in tech to post gains by more than 1% by mid-morning ‘Reopen’ stocks, including airlines, cruise lines and accommodation companies, however, remained under pressure and were mostly lower in intraday transactions. p>

US manufacturing activity grew the most in two years in October, according to the Institute for Supply Management’s Manufacturing Purchasing Managers Index

The stock PMI rose to 593 in October from 554 in September This was the fifth consecutive month of an expansionary reading, or above 500 The index was at its highest level since September 2018 Consensus economists had sought PMI to rise to 560 for October, Bloomberg data shows

Under the headline, a sub-index tracking new orders rose to 679 of 602, which hit its highest level since January 2004 And the employment tracking sub-index rose to 532 of 496 in September , return to expansionist territory for the first time since July 2019

Estee Lauder (EL) released first quarter results that beat expectations as an increase in sales of skin care products offset a drop in demand for cosmetics as people largely stayed at home for the pandemic

Adjusted first-quarter profit was $ 1.44 per share on adjusted net sales of $ 3.56 billion, with both measures better than the 90 cents per share on sales of $ 3.45 billion The company has also increased its quarterly dividend by 10% to 53 cents per share

The strength of the results stems from the fact that sales of skin care products jumped 10% on a reported basis to over $ 2 billion, more than half of the overall revenue for the quarter Makeup sales, however, fell by 32% and sales of perfumes by 12%

Clorox (CLX) shares jumped more than 25% early in Monday after the company released first quarter tax results and full-year guidance that exceeded consensus expectations

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Quarterly earnings were $ 3.22 per share, or much better than the expected $ 2.34 per share expected First quarter net sales of $ 1 92 billion were up 27% from last year and were also better than the expected 175 billion dollar Results were dominated by a 39% sales increase in the company’s household products category, which includes bags and packaging, grilling products and pet supplies Sales of health and wellness products, which include cleaning products, vitamins and minerals, increased by 28%

The company said it expects 9% full-year organic sales growth and full-year earnings per share of $ 7$ 70 and $ 7.95 Even on the low end of the forecast, this exceeded profit expectations of $ 766 per share, according to Bloomberg consensus data

Joe Biden likes to talk about ‘tax cuts for the rich’ – here’s the real story

« It’s hard to say the country doesn’t have infrastructure issues, » says Scott Davis, CEO of Melius Research Well there is a huge need for more coronavirus testing and tracing capabilities larger and more accurate – and that will help the companies that supply them (ABT) ”(ticker: ABT) Six coronavirus tests led to a 39% increase in sales of diagnostics in the third quarter

If you are married you will often be more successful with a joint claiming strategy for Social Security benefits As I wrote last time, it usually works best if both spouses are close in age and the one spouse has earned much more than the other during their working life Divorced and widowed spouses can receive spousal or survivor benefits (benefits based on the spouse’s lifetime earnings) with certain restrictions

Jim Rogers once again hammered home the idea that the flood of money from central banks is artificially keeping markets around the world afloat He’s been calling for a dirty sale for a while now

Nio has doubled its October deliveries from a year earlier and Xpeng 229% Li Auto’s deliveries increased again Shares of China’s three electric vehicle makers surged

The results of (PFE’s) pivotal trial on its Covid-19 vaccine are unlikely to be released before Tuesday’s election, as was once hoped Cantor Fitzgerald analyst Louise Chen sees three opportunities for the stock (ticker: PFE), which rose about 1% in pre-market trading on Monday, to $ 35.83 In its scenarios, the vaccine news could move stocks into a $ 9 range

The U 2020S election takes place on November 3 with President Donald Trump and former VIce chairman Joe Biden fighting for the leadership position Gold Price Analysis: US Presidential Election Will Play a huge role in shaping the global economy and gold prices are expected to react as election day approaches So how important is it to the safe haven asset gold that Biden or Trump go to the White House? « There is no doubt that we will likely see increased volatility in the stock markets as Election Day approaches and investors in safe havens like gold, especially if the race between the two candidates is very close and that there is a growing risk of challenge, « writes Saida Litosh, head of precious metals analysis at RefinitivBiden or Trump Impact: If the past is any indication, a second Trump administration would mean a » turbulent and polarizing first term  » which in turn would add more volatility and uncertainty, although the potential for radical policies may be lower in the second term Congress remains divided, Refinitiv points out, however a victory at Biden would represent a return to a more conventional administration resulting in less volatility associated with political risks and international tensions“Historically movements in the price of gold following the US presidential elections suggest little evidence of a clear relationship between the price of gold and the outcome of elections on the basis of membership in a gone, ”says LitoshBryan Slusarchuk, CEO of Fosterville South Exploration, claims that for thousands of years gold has served as a hedge against uncertainty, a currency and a store of wealth Trump and Biden have pledged huge amounts of stimulus and enormous amounts of easing « Both [Trump and Biden] have strongly supported various policies that amount to quantitative easing and therefore gold should respond well no matter who is elected, » says SlusarchukBeyond the financial conditions, which will serve to propel gold higher, we must see the function of gold as a hedge against uncertainty, says SlusarchukGold on explosive rise: Slusarchuk says election may be most controversial election in US history « It can be contested, the outcome may not be certain and its legitimacy will be without no doubt questioned in some circles, regardless of which side wins, « says SlusarchukHe believes that a bitter and contested election would also potentially have many negative consequences, and would represent the very definition of uncertainty against which gold protects itself. »I think gold has explosive potential in the coming months and this is based on economic and financial conditions, but the uncertainty of the election outcome will only serve to accelerate its upward trajectory, » adds Slusarchuk. : The SPDR Gold Trust (NYSE: GLD) was up 037% to $ 179 at the time of publication on Monday, while the VanEck Vectors Gold Miners ETF (NYSE: GDX) was up 089% to $ 38.55 Benzinga * Click here for Benzinga options trades * Check out The Benson On Madison Ave With condos on sale starting at 5M (PHOTOS) * Why GameStop’s stock is trading lower today (C) 2020 Benzingacom Benzinga does not provide investment advice All rights reserved

The diaspora of tech talent can be seen in Rocky Mountain cities, where wealth and business activity are on the rise, along with real estate prices and wage competition

Mall operators in the US have been strapped for cash amid the pandemic as people have stayed indoors and have resorted to shopping online Retailers including JC Penney Co Inc, l One of CBL’s biggest tenants, already struggling with customers abandoning traditional stores for online shopping, also resorted to bankruptcy filings CBL’s filing follows that of Pennsylvania Real Estate Investment Trust earlier Sunday, which filed a Chapter 11 petition to execute a prepackaged financial restructuring plan

New Jersey’s largest besieged state pension fund sold shares of Apple and Intel in the third quarter and bought shares in electric vehicle maker NIO and video conferencing company Zoom

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Shares of Nio Inc climbed to a record high on Monday, after the China-based electric vehicle maker announced October deliveries that doubled to a monthly record of more than 5,000 vehicles

Wall Street struggled last week Two days before the presidential election, rising COVID-19 numbers and fading hopes for a pre-election stimulus package, stocks posted their worst week since the peak of the pandemic in March All three of the major US stock indices also reported a second consecutive monthly decline According to the pros on Wall Street, uncertainty reigns in the markets That said, some strategists indicate that the meeting of the Federal Open This month’s Market Committee, which takes place on November 4 and 5, could help reassure investors If more liquidity were provided, stocks could gain in the medium to long term, although there is no additional stimulus Moreover, the pros say the recent sale could present an opportunity to find compelling names for a more attractive entry point With that in mind, we turned to Wells Fargo’s expert stock pickers for inspiration Investment firm ranks in the top 10 of TipRanks list of research firms Top Performers Looking at three tickers backed by Wells Fargo, we used TipRanks’ database to find out why the company’s analysts see each as such an exciting opportunity. RealReal (REAL) First up, we have RealReal, which is a leader in the online authenticated luxury consignment space In the wake of a major new partnership, Wells Fargo has high hopes for this retailer October 5 , REAL announced a new partnership with Gucci, one of the most popular brands on the REAL platform Under the terms of the agreement, the two companies will develop an online platform for the sale of used Gucci products , the site also promoting a more circular economy for luxury This platform will function as a website within a website on REAL’s platform and will feature products provided primarily by third-party shippers, as well as some provided directly by Gucci.For each item sold, the company will plant a tree through One Tree Planted nonprofit Representative Wells Fargo, analyst Ike Boruchow sees several positives from the collaboration, which represents « a clear win for the bulls in the short term.He explained, « The fact that REAL is partnering with one of the world’s most prominent luxury brands should give them a lot more credibility with consumers (and the luxury industry in general). Interestingly, in an interview with Women’s Wear Daily, Gucci Brand CEO Marco Bizzarri said that the growing popularity of the resale market was very interesting to us.In addition, the deal reflects another way to acquire supply, which is essential because ‘unlocking supply is one of REAL’s main growth engines,’ Boruchow said. He further points out that even though Gucci only supplies a limited number of pieces, it will be “incremental to REAL’s offering.” If that were not enough, Boruchow argues that the partnership highlights the environmental benefits of the market. resale The analyst believes this will continue to make « the resale market more and more attractive to consumers who are increasingly aware of sustainability and environmental factors.“When it comes to business fundamentals, Boruchow believes supply has been a bigger issue than demand in 2020, especially during the COVID-19 pandemic That said, REAL has found new ways to acquire supply, which may « help unleash REAL’s long-term growth potential, » analyst says To sum up, Boruchow commented, “As a result, we believe that the gross value of commodities will continue to accelerate over the next few quarters and that the growth of long-term leads is extremely compelling.“As a result, Boruchow has stayed with the bulls In addition to an overweight rating, he sets a target price of $ 20 on the stock Investors could pocket a 59% gain if this target is met within twelve months to come (To see Boruchow’s review click here) As for the rest of the street, opinions are divided almost equally With 3 buys and 2 takes awarded in the past three months, the word on the street is that REAL is a moderate buy At $ 17.25, the mid price target implies upside potential of 37% (See RealReal price targets and analysts’ notes on TipRanks) JELD-WEN (JELD) Next we have JELD- WEN, which is one of the world’s largest window and door manufacturers Calling JELD one of the company’s « favorite real estate stocks », Wells Fargo believes big things could be in store. Writing for the firm, analyst Truman Patterson told clients q ue, based on its channel checks, Windows and Interior Doors channel inventories are meager and delivery times have been stretched to 2-3 weeks This led the analyst to conclude that « the industry manufacturers of both products are operating at or near full capacity. » It should be noted that in recent years JELD has had to contend with Windows’ production inefficiencies which « were sometimes motivated by an inability to adapt to rapid changes in demand »It shook investor confidence and led to lower valuation, analyst said. That being said, Patterson sees better days on the horizon » Despite the unexpected rebound in demand in the wake of COVID, which led JELD to ramp up production to near capacity, we believe JELD has improved its Windows manufacturing operations as contacts suggest quality control issues for the company’s products are a thing of the past We give management the benefit of the doubt going forward as the rationalization of the global footprint and YWAM initiatives start to gain traction, representing an EBITDA potential of over $ 200 million, ”explained Patterson In addition to this, he argues that improving manufacturing operations should lead to multiple expansion by itself Adding to the good news, pricing announcements for both products are strong After unprecedented price increases for interior doors earlier this year, it looks like JELD and its Masonite counterpart are determined to structurally improve pricing in the industry, in Patterson’s opinion Explaining this, the analyst said, “In addition, it appears that JELD has announced a 7% to 11% increase in window prices nationwide (3 points above normal), and the main competitors followed suit with increases of a similar magnitude Given the aforementioned industry-wide shortages for both products and the rapid rebound of New Res, we believe JELD will be able to achieve at least the traditional 40-50% of advertised prices in its product portfolio.So, Patterson sees JELD hitting the 2021 North America price in the 5% 4 range, and after some SG&A inflation / post-COVID investment, he expects EBITDA margin expansion of 200 at 300 basis points “We don’t think the above is fully appreciated by the Street, as JELD is just one of three stocks in our coverage of 20 HB / BP companies which has been stable or declining since beginning of the year ”, he noted To top it off, there was only one manufacturing glitch, due to an unexpectedly poorly timed product line reset from a large visitor center. “Given the robust demand environment that is likely to depress inventory levels in reception centers (HD / LOW’s SSS up 20% to 30%), we believe that HCs will ensure that they do not not disrupt their supply chain and should be more receptive to price increases, ”said Patterson So it’s no surprise that Patterson left an overweight rating and a target price of $ 32 on the stock To that end, upside potential lands at 52% (To see Patterson’s track record, click here) Other analysts are more cautious about JELD A consensus Hold rating breaks down into 3 buy, 6 take and 1 sell With an average price target of $ 24 35, upside potential is 16% (See JELD-WEN’s stock market analysis on TipRanks) Associated Banc-Corp (ASB) Associated Banc-Corp takes its place as the largest bank based in Wisconsin, with a total branch network of more than 200 locations serving more than 100 communities, primarily in its three-footprint of the state of Wisconsin, Illinois and Minnesota Although the company has faced some challenges, Wells Fargo believes it has taken steps in the right direction Firm analyst Jared Shaw tells clients that while third quarter results have been mixed, he has high hopes for the banking player A higher provision charge than expected fueled EPS of $ 24.0.01 ahead of consensus estimate As for NIM, management believes the 2’s figure of 31% marks a low, and that margin should improve from here Credit was more mixed, as NCOs went from 44 basis points to 49 basis points due to oil and gas (reserved at 15 3% rate), and NPAs increased 24 basis points through migration of two shopping center-focused REITs However, « deferrals were a bright spot, » with total deferrals falling from 69% of peak levels to 21% of lending, compared to its peers which on average have declined. 72% and 28% of deferred loans « So far, consumer loans that have seen their deferrals expire have had a cure rate of 97%, which gives us some optimism about the remaining balances, » he said. said Shaw Additionally, the ALLL ratio increased 8 basis points quarter over quarter to 160% ex-PPP. “We expect little further development from here as we see the zones most at risk properly booked and encouraged by deferral trends, ”Shaw commented To add to the good news, ASB was the first Shaw cover bank to highlight cost reduction initiatives resulting from COVID-related shutdowns These initiatives appear to be paying off, as spending targets announced last month Fourth-quarter spending is expected to be $ 175 million and 2021 spending to $ 685 million, compared to $ 712 million of estimated base spending in 2020 if the figure of $ 685 million was reached , it would mark the lowest annual spending level since 2014 « With favorable winds in spending initiatives, the NIM likely improving, stocks trading at just 87% of the current TBV, and a 51% divvy, » Shaw sees big things in store for ASB In keeping with his bullish approach, Shaw sits with the bulls, reiterating an overweight rating and a price target of $ 18. it’s his confidence in ASB’s ability to climb 31% higher next year (To see Shaw’s track record, click here) Looking at the consensus breakdown, 1 buy and 3 holds were issued in the three months As a result, ASB gets a moderate buy consensus rating Based on the $ 15 average price target of 67, stocks could climb 14% next year (See price targets and analysts’ notes from ‘Associated Banc-Corp on TipRanks) Disclaimer: The opinions expressed in this article are solely those of the featured analysts The content is intended to be used for informational purposes only It is very important that you do your own analysis before doing anything investment

* This weekend’s Barron’s examines why the merging frenzy among chipmakers hasn’t impressed investors * Other featured articles deal with stock picking for any presidential outcome, the performance of health insurers after the elections and the good, bad and odd profits of big technologies * Also, the outlook for a game developer, an industrial giant, telecoms and more « Chip Firms Bulk Up, and Investors Balk » by Max A Cherney suggests that, while Advanced Micro Devices Inc (NASDAQ: AMD) Lisa Su, CEO, says, “The more scale you have, the more you can do for your customers,” for investors the situation is more complicated. Major Acquisitions by Chipmakers Mean for Their Stocks Max A « Zynga Finds Global Stage for Mobile Games » Cherney says Zynga Inc (NASDAQ: ZNGA) is eclipsed by bigger video game makers, ma is the company learns to play in a market of 2 billion people Find out how the stock is a game on smartphones and games like Words With FriendsIn « 3 Industry Stocks To Watch If The US Recovery Mimics China, » Al Root argues that China is rebounding from COVID-19, as is the United States, and there are actions that will benefit the growth of both economies What could this mean for Boeing Co (NYSE: BA) and Parker-Hannifin Corp (NYSE: PH)? Some trends just don’t depend on who occupies the White House So Says « Trump or Biden? Stocks to Buy for Any Result » by Liz Moyer Find out what that could mean for everything from Abbott Labs (NYSE: ABT ) at Newmont Corp (NYSE: NEM) In Daren Fonda’s « Managed-Care Stocks, and Anthem, Might Rise After Vote », find out why the actions of health insurers like Humana Inc (NYSE: HUM) tend to slide ahead of election, but see big gains the following year And see why Anthem Inc CEO (NYSE: ANTM) seems bullish « General Electric’s share price is on hold Here’s what it will take to get it up again ”by Al Root examines why General Electric Co (NYSE: GE) has remained in the same price bracket since early June Barron wonders if there is a secondary supply in the See also: Benzinga’s Bulls and Bears of the Week: FAANGS, Ford, Visa and more (NASDAQ: GOOGL) was the star and Twitter Inc (NYSE: TWTR) was the loser of the reporting season, according to Eric J Savitz  » The Good, Bad, and Just Plain Odd From Tech’s Earnings «  » The article also examines hiring plans at Amazoncom Inc (NASDAQ: AMZN) In « Forget AT&T’s Lofty 7 8% Yield Its Dividend Seems Sure », Lawrence C Strauss points out that while AT&T Inc (NYSE: T) can extend its series of increases dividend payouts is subject to debate among market watchers Find out why Barron’s thinks the telecoms and media company has the financial means to keep it up The ‘Overly Confident Predictions for Stocks, Elections and a Covid-19 Vaccine’ by Jack Hough postulates that the future is unknowable, but that’s no reason not to predict it to two decimal places Will AstraZeneca plc (NYSE: AZN) or Pfizer Inc (NYSE: PFE) win in the coronavirus vaccine race? Also on this week’s Barron’s: * Why is it Jerome Powell’s time, no matter who becomes president * Where bond buyers can find value among slim picks * The little tip of beating Goldman Sachs and Morgan Stanley * Why the US elections are safer than you think * How China still has an open door for Wall Street * How, despite record GDP, the recovery faces increasing difficulties * How to play the boom in the housing market in decline * Why small the hats battered by the pandemic seem poised to shine * Rising oil and stock prices with mergers * How a blue wave could lift the municipal bond market * Why Europe is putting economic hopes on a Biden presidency * What to buy in a Trump victory At the time of this writing, the author has no position in any of the stocks mentioned. latest news and trading ideas by following Benzinga on Twitter See more from Benzinga * Click here for Benzinga options trades * Benzinga Bulls and Bears of the Week: FAANGS, Ford, Visa and more * Insider Purchases Notables from last week: IBM, Intel, Raytheon and more (C) 2020 Benzingacom Benzinga does not provide investment advice All rights reserved

Amazoncom Inc AMZN had record third quarter sales, but the e-commerce giant also saw shipping costs jump 57% year-over-year, reaching $ 1506 billion for the period

Wingstop Inc reported third quarter net income of $ 10 million, or 34 cents per share, compared to $ 5.9 million, or 20 cents per share, last year Revenue of $ 64.0 million was $ 49.9 million l last year The FactSet consensus was for EPS of 34 cents and revenue of $ 64 1 million National comparable store sales increased 254% Digital sales increased 62% And sales across the world system rose 328% to $ 509 million Wingstop announced its preliminary third quarter results in October Wingstop declared a special dividend of $ 5 per share payable on December 3 to shareholders of record on November 20 The dividend is announced in conjunction with the new issuance of $ 480 million in securitized notes on Oct 30, which was used to repay $ 317 million in principal of the outstanding securitized notes issued in 2018 New notes are subject to amortization annual rate of 1% and have an interest rate of 284% per annum, with a repayment date of December 2027 Wingstop also entered into a $ 50 million variable financing note facility, replacing an old financing note facility $ 20 million variable Wingstop shares slipped 03% in pre-market trading on Monday, but gained 35% year-to-date The S&P 500 index is up 12% for 2020 so far

Social and business disruption from the Covid-19 pandemic has hit the stock market, but Amazon is in a unique position to perform well due to changes in consumer behavior

(Bloomberg) – Four Chinese regulators, including the central bank and the banking watchdog, invited billionaire Jack Ma and Ant Group Co to a supervisory interview on Monday, a rare meeting with several financial regulators which highlights the growing government scrutiny over the company ahead of its public debut Ant Chairman Eric Jing and Managing Director Simon Hu were also at the meeting, which included the China Securities Regulatory Commission and the administration of State of exchange, according to a statement on Weibo No further details were disclosed in the statement « Ant Group will implement notices of the meeting in depth, » the company said in a statement It will follow guidelines including stable innovation, adoption of supervision and service to the real economy, he said.China’s largest payments firm is days away from its stock market debut after the world’s largest public offering, which is set to raise $ 34.5 billion. It values ​​the company at around $ 315 billion. dollars based on deposits, more than JPMorgan Chase & Co Sale brings Ma’s fortune to $ 71 6 billion, overtaking Walmart Inc heirs IPO sparks interest from some of the world’s largest fund managers and sparks a frenzy among individual investors in China clamoring for a share of the sale Institutional investors in Hong Kong are buying Ant shares at a 50% premium, people familiar with the matter said, signaling that it is on the verge of going up soaring when it starts trading on November 5Ant was formed when Alibaba Group Holding Ltd launched the Alipay payment app in 2004 as an escrow service for buyers and sellers on Ma’s e-commerce website For more items like this, please visit us at BloombergSubscribe now to stay ahead with the most trusted source of business news © 2020 Bloomberg LP

Novavax has announced agreements to expand its headquarters in Maryland, both immediately and in the future, as the company works on its stock Covid-19 and Rose flu vaccine candidates

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