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U.S. Stocks Declined over North Korea Tensions, Tech Selloff
Wall Street dropped on Monday, as a selloff in technology shares weighed on the Nasdaq, while North Korea's recent warnings to Washington contributed to a cautious tone.
The CBOE Volatility index, a broadly followed measure of market anxiety, notched a 2-week peak of 11.21 and last stood 1.12 points higher at 10.71.
The Dow Jones industrial average fell 0.24 percent at 22,296.09. McDonald's, Visa and Boeing were the worst performers on the index, followed by Apple. Home Depot, Exxon Mobil and Walt Disney outperformed.
Information technology had its worst day since August 17, declining 1.4 percent as the largest loser in the S&P 500, which fell 0.22 percent to 2,496.66. Energy led six sectors up and finished almost 1.5 percent.
The Nasdaq composite briefly dropped over one percent but finished 0.99 percent lower at 6,370.59 in its worst day since September 5.
Tech names like Facebook, was down 4.81 percent, Microsoft, dropped 1.89 percent, while Apple, lost 1.11 percent. Other tech-related stocks also fell. Amazon.com declined 1.6 percent and Netflix tumbled 4.7 percent.
Shares of Apple dropped for the fourth consecutive day. The stock declined five percent the previous week, its worst week in over a year, following the launch of the iPhone 8 and some other products in stores. The stock remains almost 30 percent higher for 2017.
Social media giant Facebook fell 4.5 percent in their worst day of the year. It dropped a proposal to issue a new class of shares that will allow CEO Mark Zuckerberg to maintain voting control and fund the firm's philanthropic efforts.
The declines in tech were counterbalanced partly by a sharp rise in the energy sector, which climbed 1.5 percent. The sector was poised for its sixteenth advance in the previous 18 sessions.
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South Korea Inflation Eases More Than Forecast
South Korea's consumer price inflation eased more-than-expected in September, figures from Statistics Korea showed Thursday.
The consumer price index climbed 2.1 percent year-over-year in September, slower than August's 2.6 percent rise. Economists had expected the inflation to ease to 2.2 percent.
Excluding food and energy, core inflation remained stable at 1.4 percent in September.
Prices of food and non-alcoholic beverages grew 3.3 percent annually in September and transport costs went up by 2.7 percent.
On a monthly basis, consumer prices edged up 0.1 percent from August, when it increased by 0.6 percent. The expected rate of increase was 0.2 percent.
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Philippines Manufacturing PMI Climbs To 50.8 In September - Nikkei
The manufacturing sector in the Philippines continued to expand in September, and at a faster pace, the latest survey from Nikkei revealed on Monday with a manufacturing PMI score of 50.8.
That's up from 50.6 in August, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, orders remained modest, while output expansion slowed further.
Cost pressures intensified.
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COLOMBIA: Colcap Closes Steady Despite Oil Fall
Colcap, the main index of the Colombian Stock Exchange, closed Monday's session stable, amid a low trading volume, in a day in which oil fell by more than 2%.
Camilo Silva, an analyst at Valora Inversiones, said that the Colcap recorded a mixed behavior among its constituents, while crude prices abroad fell because of the skepticism among market players that the United States could reduce its oil production.
Regarding local companies, the state-owned Colombian oil company Ecopetrol reported that it was included in the technical recovery group of the International Energy Agency (IEA), which includes world powers in the application of this technology of oil production.
Meanwhile, the Colombian government affirmed on Monday that if the Avianca's pilots do not appoint an arbitrator to its litigation against the air company, it will be selected by lottery.
The shares of Cemex (+1.91%), Preferencial Bancolombia (+0.59%), Cemargos (+0.34%), and ?xito (+0.13%) rose, while Grupo Aval (-0.75%), Davivienda (-0.66%), Banco de Bogot? (-0.64%), and Conconcreto (-0.49%) fell.
The locally traded U.S. dollar closed the day at 2,950.00 Colombian pesos, marking a 0.37% rise, as the euro weakened and oil fell abroad. Ramses Pestanapalmett, an analyst at Ultraserfinco, said that the euro is falling against its peers due to the political tensions in Catalonia, where people voted for separating the region from Spain.
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Singapore Private Sector Accelerates In September - Nikkei
The private sector in Singapore continued to expand in September, and at a faster pace, the latest survey from Nikkei revealed on Wednesday with a PMI score of 53.7.
That's up from 53.2 in August, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, there were faster rises in both new orders and output, while export growth hit a record high.
Backlogs rose again despite additional staff numbers.
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Trump’s Tax Overhaul Plan Hit with New Criticism
President Donald Trump's plan to revamp the U.S. tax code came under fire once more on Tuesday from two renowned Wall Street figures, including Warren Buffet who raised the Republican push to reduce the U.S. corporate rate.
Buffett and BlackRock Inc. CEO Larry Fink both indicated in separate interviews that the corporate rate may not have to be reduced as deeply as proposed by the White House and top Republicans in Congress.
In an interview with CNBC, the chairman and CEO of Berkshire Hathaway Inc. said the corporate tax rate did not affect the competitiveness of U.S. businesses.
Meanwhile, Fink said a corporate rate as high as 27 percent could still give U.S. businesses' some breathing room, while preventing the widening in the federal budget deficit. During an interview on Bloomberg TV, Fink said that the current proposal will mean a big expansion of the country's deficits.
The Republican tax plan outlined last month calls for reducing the corporate income tax rate to 20 percent from the current level of 35 percent, which majority of multinational firms are avoiding by taking advantage of loopholes in the tax code.
Buffett added that the planned elimination of the estate tax under the Republican's plan is a 'terrible mistake'. Given that it only impacts a small percentage of Americans, scrapping the tax would not have widespread effects, he said.
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Hong Kong Private Sector Expands In September - Nikkei
The private sector turned to expansion in September, the latest survey from Nikkei revealed on Friday with a PMI score of 51.2.
That's up from 49.7 in August, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, the index was boosted by renewed growth in new orders and output, although firms remain pessimistic about business outlook.
Supply shortages helped to drive up input costs.
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China Private Sector Growth At 3-Month Low
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China's private sector expanded at the weakest pace in three months in September, survey data from IHS Markit showed Monday.
The Caixin composite output index fell to 51.4 in September from 52.4 in August. However, any reading above 50 indicates expansion in the sector.
The slowdown was driven by weaker increases in output at both manufacturing and services companies.
The seasonally adjusted General Services Business activity index declined to 50.6 in September from 52.7 in August.
Moreover, this signaled a marginal increase in services activity that was the slowest for 21 months.
At the same time, growth in manufacturing production edged down to a three-month low.
"The expansion in both manufacturing and services cooled in September, suggesting downward pressure on economic growth may re-emerge in the fourth quarter," Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said.
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Philippine Trade Deficit Widens In August
Philippine foreign trade deficit increased in August from a year ago, as imports grew faster than exports, preliminary figures from the Philippine Statistical Authority showed Tuesday.
The trade deficit climbed to $2.41 billion in August from $2.13 billion in the corresponding month last year. In July, the shortfall was $1.62 billion.
Exports grew 9.3 percent year-over-year in August and imports advanced by 10.5 percent.
Shipments of electronic products, accounting for 51.9 percent of total exports, rose by 3.5 percent.
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PERU: Government Signs US$ 200 Million Exploration Contracts With Anadarko
The Peruvian government has signed three oil exploration and exploitation contracts evaluated at US$ 200 million. The contracts involve the state-owned oil company PeruPetro and the U.S. company Anadarko, that will jointly develop offshore blocks on the western Pacific coast.
"In Peru, we have been slow in oil policy in the last 30 to 40 years, with contracts difficult to execute, and we are trying to improve it," said Peruvian President Pedro Pablo Kuczynski.
He also stressed that this is the first time that deepwater hydrocarbon exploration will occur in the country.
The three blocs range the provincial coasts of Chiclayo, Chep?n, Pacasmayo, Ascope, Trujillo, and Vir?.
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Gold Prices Climb on Weaker Dollar
Gold prices increased for a fourth day on Wednesday, after notching a two-week peak in the session earlier, as the dollar weakened.
Spot gold rose 0.2 percent at $1,290.56 per ounce. It hit its highest level since Sept. 27 in the session earlier.
U.S. gold futures for December delivery was flat at $1,293 an ounce.
The dollar weakened against its peers and pulled back from a 10-week peak set recently amid speculation that U.S. President Donald Trump's tax overhaul plan would stall. A firm euro also weighed on the greenback.
Fed funds futures showed that traders implied almost a 90 percent likelihood of a December rate hike.
"The only news holding down the price of course are the impending rate hikes from the Federal Reserve but if these political issues grow much worse you can bet that $1,300 will not be the top," according to Miguel Perez-Santalla, vice president of Heraeus Metal Management in New York, citing concerns surrounding Spain and North Korea.
The London Metal Exchange sees three more clearing members to join its precious metals contract by the end of 2017 and is also looking to expand trading around its gold and silver reference prices, Chief Executive Matthew Chamberlain said.
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Australia Home Loans Rise 1.0% In August
The total number of home loans in Australia was up a seasonally adjusted 1.0 percent on month in August, the Australian Bureau of Statistics said on Thursday - coming in at 57,161.
That beat forecasts for a gain of 0.5 percent following the downwardly revised 2.8 percent increase in July (originally 2.9 percent).
Investment lending advanced 4.3 percent to A$12.633 billion after sliding 3.7 percent in the previous month.
The value of loans gained 0.9 percent to A$21.265 billion after rising 1.3 percent a month earlier.
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Fed Minutes show Policymakers’ Support for December Rate Hike
The minutes of the Federal Reserve meeting on September 19-20 showed that members of the FOMC had a prolonged discussion regarding the prospects of inflation's growth and slowing the rate of future interest rate hikes if it failed to pick-up.
Record of the most recent policy meeting showed that Fed officials see the economy growing at a steady rate. The minutes also show that policymakers expect inflation will reach the targeted 2 percent, with FOMC members anticipating that factors weakening inflation are temporary.
Several members said that they would focus on the incoming inflation data over the next few months when deciding regarding the future of interest rate moves.
It also indicated that an interest rate hike later this year is almost certain, despite some divisions regarding the outlook for the direction of inflation. According to the summary of the meeting, many members thought that another rate hike in the target range later this year, presumably in December, was likely to be warranted if the medium-term outlook continued to be unchanged.
In the end, the FOMC ruled against an interest rate hike at the meeting, choosing instead to announced that in October it would start to reduce its massive balance sheet, which will be done by allowing small part of the proceeds from its maturing bonds to roll off.
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Singapore GDP Surges 6.3% On Quarter In Q3
Singapore's gross domestic product climbed a seasonally adjusted 6.3 percent on quarter in the third quarter of 2017, the Ministry of Trade and Industry said in Friday's advance estimate.
That beat forecasts for an increase of 3.7 percent following the upwardly revised 2.4 percent gain in the second quarter (originally 2.2 percent).
On a yearly basis, GDP jumped 4.6 percent - again exceeding expectations for 3.8 percent following the 2.9 percent increase in the three months prior.
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U.S. Producer Prices Strengthens in September
U.S. producer inflation increased in September as gasoline prices notched its biggest increase over two years amid hurricane-linked production issues at Texas oil refineries.
At an annual rate, the PPI jumped 2.6 percent, the biggest jump since February 2012 and came after a 2.4 percent rise in August. The rise is driven by the strong increase in wholesale gasoline prices, which jumped 10.9 percent in September
According to the Labor Department, the higher energy prices most likely resulted from the reduced refining capacity in refineries in the Gulf Coast area that was devastated by Hurricane Harvey. The increase in gasoline prices due to the storm is seen to be only temporary as a supply glut persists in the markets.
The producer price index for final demand rose 0.4 percent, the Labor Department reported, also lifted by the rise in services. Wholesale prices in August rose 0.2 percent.
Other data released by the government agency showed filings for unemployment benefits declined to a more than one-month low in the previous week as the boost to the applications in Texas and Florida due to Hurricane Harvey and Irma continued to decline.
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China CPI Slows To 1.6% In September
Consumer prices in China were up 1.6 percent on year in September, the National Bureau of Statistics said on Monday.
That was in line with expectations, and down from 1.8 percent in August.
On a monthly basis, consumer prices were up 0.5 percent - accelerating from 0.4 percent a month prior.
The bureau also said that producer prices jumped an annual 6.9 percent - exceeding forecasts for 6.4 percent and up from 6.3 percent in the previous month.
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Gold Steady Amid Strong Dollar
Gold prices held steady early on Tuesday after dropping below $1,300 per ounce in the session earlier, while the dollar was firm on strong U.S. Treasury yields.
Spot gold was flat at $1,293.60 per ounce. The precious metal declined 0.8 percent in the session earlier.
U.S. gold futures for December delivery dropped to $1,296 an ounce. The dollar held gains versus the yen and the euro on Tuesday, buoyed by an increase in Treasury yields following a report that U.S. President Donald Trump preferred a policy hawk as the next head of the Federal Reserve. He is set to meet with Fed Chair Janet Yellen on Thursday as part of his search for a new candidate for her position, according to a source familiar with the matter.
Among other metals, palladium previously tumbled 1.6 percent at $972.10 per ounce after hitting its highest since February 2001 at $1,010.50.
Some investors had been wary when the metal, mostly used for auto catalysts to clean pollution from exhaust fumes, broke above $1,000 on Sept. 6, as a result of concern regarding weak global auto sales.
However, these concerns have been put aside after the world's largest auto market China recently posted sales growth of 5.7 percent in September.
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ARGENTINA: Merval Falls 1.91%, Tracking ADRs
Merval, the main index of the Buenos Aires Stock Exchange, tumbled 1.91% Tuesday, closing at 26,622.40 points in the first trading session of the week after a holiday in Argentina.
Local papers tracked the losses posted Monday by the ADRs of Argentinean companies traded on Wall Street in the days previous to an election in which the market takes for granted the triumph of the President Mauricio Macri political group.
The main candidates are in the final stretch of their campaigns. On Monday, Cristina Kirchner led a crowded rally in the Racing Club stadium, while Macri took part in an act with its allies in Ferro.
The shares of Galicia (+0.26%) and Petrobras (+0.11%) rose, while Pampa (-4.89%), Costanera (-4.24%), Agrometal (-3.51%), Comercial del Plata (-3.38%), and Petrolera Pampa (-3.38%) fell.
The locally traded U.S dollar closed down 0.08%, at 17.33 Argentinean pesos, reversing an early rise, also under pressure of the electoral week.
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Japan Has Y670.2 Billion Trade Surplus In September
Japan had a merchandise trade surplus of 670.2 billion yen in September, the Ministry of Finance said on Thursday.
That beat forecasts for a surplus of 556.8 billion yen following the downwardly revised 112.6 billion yen surplus in August (originally 113.6 billion yen).
Exports climbed 14.1 percent on year, missing forecasts for a gain of 15.0 percent and down from 18.1 percent in the previous month.
Imports picked up an annual 12.0 percent versus expectations for 14.7 percent and down from 15.2 a month earlier.
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European Markets Advanced on Third-Quarter Earnings Reports
European markets finished higher on Wednesday as investors focused on the recent batch of earnings and economic data releases.
The pan-European Stoxx 600 rose nearly 0.29 percent, with most sectors and major bourses in positive territory.
Politics continued to persist in the background, as investors await recent news on Brexit and Catalonia.
Spain's IBEX stretched out losses following news reports that showed Catalonia refuses to give in to the Spanish government's demand of renouncing its independence.
Autos, food and beverages and media stocks were among the best performers on Wednesday.
UK consumer goods maker Reckitt Benckiser dropped over one percent after it trimmed its full-year comparable sales forecast and announced a company overhaul following a "soft" third quarter.
The UK's second largest grocer Sainsbury's declined 1.2 percent after Sky News reported that the company will cut 2,000 store and back office jobs in an effort to cut costs amid rising competition.
Dutch chemicals group Akzo Nobel reported its third-quarter results, with the company expecting upbeat developments for the EMEA region (except for the U.K.) and North America going forward. However, it revealed that "headwinds" are expected to continue. Shares of Azko Nobel fell 1.84 percent.
The U.S. Securities and Exchange Commission recently charged Australian-British miner Rio Tinto and two of its former top executives with fraud. The SEC said that the execs had inflated the value of coal assets in Mozambique, which was acquired for $3.7 billion and sold years later for $50 million, according to a report from Reuters. Rio Tinto shares dropped nearly three percent.
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Malaysia's Inflation Accelerates In September
Malaysia's inflation accelerated as expected in September, figures from the Department of Statistics revealed Friday.
Consumer prices climbed 4.3 percent year-on-year in September, faster then the 3.7 percent rise seen in August. The rate came in line with expectations.
Among components, transport costs showed a significant growth of 15.8 percent. At the same time, food and non-alcoholic beverages, which accounted 30.2 percent in the CPI weights, climbed 4.6 percent.
On a monthly basis, inflation eased to 0.3 percent from 0.9 percent in August. Likewise, based on a seasonally adjusted term, the overall consumer price index for September grew 0.3 percent.
During January to September, the CPI registered an increase of 4 percent from the same period last year.
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Japan Leading Index Strengthens More Than Estimated In August
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Japan's leading index improved more than initially estimated in August, latest figures from the Cabinet Office showed Monday.
The leading index, which measures the future economic activity, climbed to 107.2 in August from 105.2 in July. The reading for August was revised up from 106.8.
Moreover, this was the highest score since February 2014, when the reading was 108.0.
The coincident index that reflects the current economic activity rose to 117.7 in August from 115.7 in the previous month. The flash reading for August was 117.6.
The lagging index came in at 116.2 in August, up from 115.9 in July.
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Japan Manufacturing PMI Slows In October - Nikkei
The manufacturing sector in Japan continued to expand in October, albeit at a slightly slower pace, the latest survey from Nikkei revealed on Tuesday with a manufacturing PMI score of 52.5.
That's down from 52.9 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, output, new orders, new export orders and quantity of purchases all increased but at a slower pace.
Employment, backlogs and output prices all increased at a faster rate.
Business confidence fell to an 11-month low.
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AUD/JPY profit target reached perfectly, prepare to buy
The price has dropped perfectly and reached our profit target. We now prepare to buy above major support at 88.39 (Multiple Fibonacci retracements, horizontal overlap support) for a push up to at least 89.10 resistance (Multiple Fibonacci retracements, recent swing high resistance).
Stochastic (21,3,1) is seeing support above 1.2% where we expect a corresponding bounce from.
Buy above 88.39. Stop loss is at 88.17. Take profit is at 89.10.
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Australia Export Prices Sink 3.0% In Q3
Export prices in Australia were down 3.0 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Thursday.
That beat forecasts for a decline of 4.0 percent following the 5.7 percent drop in the three months prior.
Import prices were down 1.6 percent on quarter, missing slightly forecasts for a decline of 1.5 percent following the 0.1 percent contraction in the second quarter.
On a yearly basis, export prices were up 14.2 percent and import prices dipped 0.4 percent.
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Gary Cohn Out of Running to Become Next Fed Head
Export prices in Australia were down 3.0 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Thursday.
That beat forecasts for a decline of 4.0 percent following the 5.7 percent drop in the three months prior.
Import prices were down 1.6 percent on quarter, missing slightly forecasts for a decline of 1.5 percent following the 0.1 percent contraction in the second quarter.
On a yearly basis, export prices were up 14.2 percent and import prices dipped 0.4 percent.
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Gold Steadies After Weekly Losses
Gold futures were flat Friday, unable to trim recent losses as U.S. stocks continued their record-setting run.
Surging techs stocks drove the Nasdaq up 2 percent, while the rest of the market was in consolidation mode after all-time highs.
With gold's safe haven appeal diminished, the precious metal has fallen in October.
Dec. gold added $2.20, or 0.2%, to settle at $1,271.80/oz, but was down 0.8% for the week.
Economic growth in the U.S. slowed modestly in the third quarter, according to a report released by the Commerce Department on Friday, although the pace of growth still exceeded economist estimates.
The report said real gross domestic product jumped by 3.0 percent in third quarter after surging up by 3.1 percent in the second quarter. Economists had expected GDP to increase by 2.5 percent.
The Federal Reserve is widely expected to raise interest rates in December if the economy performs well over the next two months.
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thank for sharing nice news
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Dow Ends at Record Peak, S&P Flat after Release of Tax Reform Bill
U.S. equities finished mostly higher on Thursday as investors assessed the details of the tax-reform plan proposed by Republicans.
The plan would reduce the corporate tax rate to 20 percent from 35 percent but also ending certain tax breaks for firms and individuals.
The Dow Jones industrial average rose 0.35 percent 23,516.26, a record peak, after briefly losing 84 points. The index also notched a record intraday peak. Shares of Boeing were the best-performers on the 30-stock index.
The S&P 500 edged up 0.02 percent to 2,579.85, with financials climbing 0.9 percent. The index finished above the flatline. Shares of Allstate were among the best-performing stocks in the financials sector, adding 3.8 percent.
The Nasdaq composite finished below breakeven at 6,714.94; it dropped earlier, with tech investors being disappointed by the 12 percent rate on repatriated cash.
Apple advanced as the iPhone maker's revenue forecast for the holiday shopping quarter was highly above market expectations.
Facebook dropped 2.0 percent as investors brushed off solid quarterly results and were more concerned about the social media firm's spending. The stock was the biggest laggard on the S&P 500 and Nasdaq.
U.S. housing sector stocks plunged amid concerns regarding the tax plan's cap on deductions for mortgages. The PHLX Housing index dropped 1.1 percent, with Toll Brothers losing 6.1 percent and MDC Holdings down by 12.0 percent.
Shares of home improvement retailers also declined. Lowe's fell 4.1 percent and Home Depot pulled back 1.6 percent, adding pressure on the Dow.
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China Private Sector Growth At 16-Month Low
China's private sector expanded at the weakest pace in sixteen months in October, survey data from IHS Markit showed Friday.
The Caixin composite output index, which covers both manufacturing and services, dropped to 51.0 in October from 51.4 in September. However, any reading above 50 indicates expansion in the sector.
The softer increase in overall output was largely driven by a further slowdown in manufacturing production growth. At the same time, Chinese services activity picked up from September's 21-month low. The seasonally adjusted Caixin China General Services Business Activity Index rose to 51.2 from 50.6.
New business increased across both the manufacturing and service sectors during October.
Employment at the composite level was little-changed for the third straight month in October, as further job shedding at manufacturers continued to offset hiring at services companies.
"The Caixin PMIs for October showed that the economy had a relatively weak start to the fourth quarter. However, monetary policy is unlikely to be loosened unless major downside risks emerge," Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said.
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UAE Non-Oil Private Sector Growth Improves In October
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UAE's non-oil private sector growth improved at the start of the fourth quarter, survey figures from Emirates NBD and IHS Markit showed Monday.
The headline Emirates NBD Purchasing Managers' Index, or PMI, rose to 55.9 in October from 55.1 in September. Any reading above 50 indicates expansion in the sector.
"The increase in the UAE's headline index in October reflects faster output growth and a sharp increase in inventories, as firms anticipate stronger demand in the coming weeks," Khatija Haque, Head of MENA Research at Emirates NBD, said.
Employment growth remained robust in October, extending the current sequence of job creation to one-and-a-half years.
On the price front, input prices increased at a solid rate in October, while output prices fell at the fastest rate since March 2010, as firms continued to discount selling prices in order to support demand.
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UAE Non-Oil Private Sector Growth Improves In October
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UAE's non-oil private sector growth improved at the start of the fourth quarter, survey figures from Emirates NBD and IHS Markit showed Monday.
The headline Emirates NBD Purchasing Managers' Index, or PMI, rose to 55.9 in October from 55.1 in September. Any reading above 50 indicates expansion in the sector.
"The increase in the UAE's headline index in October reflects faster output growth and a sharp increase in inventories, as firms anticipate stronger demand in the coming weeks," Khatija Haque, Head of MENA Research at Emirates NBD, said.
Employment growth remained robust in October, extending the current sequence of job creation to one-and-a-half years.
On the price front, input prices increased at a solid rate in October, while output prices fell at the fastest rate since March 2010, as firms continued to discount selling prices in order to support demand.
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UK Like-For-Like Sales Slide In October - BRC
Like-for-like sales in the United Kingdom tumbled in October, the latest survey from the British Retail Consortium revealed on Tuesday - sliding 1.0 percent on year.
That was well shy of forecasts for a gain of 0.8 percent and down sharply from the 1.9 percent increase in September.
Overall sales were up just 0.2 percent, marking a nine-year low for the October month.
"The decline was driven by the worst performance of non-food sales since our record began in January 2011," said BRC chief executive Helen Dickinson.
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Wall Street Notched Record Peaks as Dealmaking Eyed
U.S. equities advanced to record peaks on Monday, supported by news of corporate dealmaking and as investors bet that a Republican plan to trim corporate taxes would buoy earnings.
The Dow Jones industrial average climbed 0.04 percent to 23,548.42, an all-time peak. The S&P 500 managed to hit a record peak, rising 0.13 percent to 2,591.13. The Nasdaq composite also ended at an all-time peak, adding 0.3 percent to 6,786.44.
Investor optimism was also spurred by a Republican proposal to lower the corporate tax rate to 20 percent from 35 percent and end some tax breaks for firms and individuals.
Qualcomm gained 1.15 percent after Broadcom offered to buy its fellow chip maker for $103 billion, in what could be the largest-ever acquisition in the tech sector. Shares of Broadcom rose 1.42 percent. Qualcomm's increase also helped the VanEck Vectors Semi ETF to notch an intraday record peak.
Advanced Micro Devices also bounced on dealmaking news.
Twenty-First Century Fox soared 9.93 percent after CNBC reported that the film and television conglomerate has held talks to sell most of the company to media giant Walt Disney Co. Shares of Disney climbed 2.02 percent.
Apple advanced 1.01 percent and contributed the most to the S&P 500 index's gains.
The S&P 500 energy index jumped 2.2 percent on gains in crude prices after the crown prince of Saudi Arabia, the world's biggest oil exporter, tightened his grip on power through an anti-corruption purge.
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Wall Street Mixed; Media Stocks Rise on Dealmaking Prospects
U.S. equities advanced on Tuesday as investor sentiment was supported by the prospects of dealmaking in the media sector.
The Dow Jones industrial average climbed 0.04 percent to 23,557.23, extending a record closing peak. The S&P 500 ended just below breakeven at 2,590.64. The Nasdaq composite dropped 0.4 percent to 6,767.78. The three indexes notched intraday record peaks earlier in the session.
Dealmaking hopes were fueled by news that Disney approached 21st Century Fox on a deal. The two companies have been in talks in recent weeks, but there is no certainty that a deal will get done. Disney gained one percent and was the best-performing stock on the Dow.
Shares of Discovery Communications bounced 1.3 percent and were among the best performers on the S&P 500. CBS also climbed 1.14 percent.
Financial shares dropped as Wells Fargo lost 1.7 percent and Citigroup dropped 1.8 per cent. Shares of JPMorgan were also down by 2.8 percent. The decline in financials comes as the yield curve flattened further for a seventh day in a row.
TripAdvisor and Priceline were the biggest decliners on the S&P 500 after both online travel websites issued quarterly results that raised concerns on their growth prospects.
Solid corporate earnings, along with improving economic data and the prospects of changes to the U.S. tax code, have helped stocks to increase higher since President Donald Trump was elected.
In the first and second quarter of the year, S&P 500 earnings rose 15.5 percent and 10.8 percent, respectively. The current earnings season has also been resilient. According to FactSet, third-quarter earnings have increased 6.3 percent on a year-over-year basis.
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China Exports Rise Less Than Expected In October
China's exports increased at a slower-than-expected pace in October, data from the General Administration of Customs showed Wednesday.
In dollar terms, exports climbed 6.9 percent year-over-year in October, slightly below economists' forecast for an increase of 7.1 percent.
At the same time, imports surged 17.2 percent in October from a year ago, faster than the expected growth of 17.0 percent.
The trade surplus totaled $38.2 billion in October versus the expected surplus of $39.1 billion.
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China CPI Climbs To 1.9% In October
Consumer prices in China were up 1.9 percent on year in October, the National Bureau of Statistics said on Thursday.
That exceeded expectations for 1.8 percent and was up from 1.6 percent in September.
On a monthly basis, inflation gained 0.1 percent after rising 0.5 percent a month earlier.
The bureau also said that producer prices advanced an annual 6.9 percent - unchanged from the previous month but topping forecasts for 6.6 percent.
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Germany Trade Surplus Slightly Expands in September
Germany's trade surplus increased marginally in September, as imports fell more than exports compared to August.
According to official data from the Federal Statistics Office, the surplus stood at €21.8 billion in September on a seasonally adjusted basis from €21.3 billion in August.
The widening came as exports dropped 0.4 percent to €107.5 billion, and imports dropped one percent to €85.7 billion. The surplus was €20.2 billion the previous year.
The reading, which followed months of growth in both exports and imports, showed that sales of German goods and services abroad only slightly grew overall in the third quarter.
According to economists, trade would not provide any significant contribution to expansion in the quarter, but they are optimistic about the outlook given strong demand for German goods.
Industrial firms posted a 3.6 percent rise in orders in August after contracts for “Made in Germany” goods dropped by an upwardly revised 0.4 percent in July, recent data showed.
Export growth has been softer, which indicates that the economy is counting more on consumption, state spending and construction as drivers.
The country's wider current account surplus, which measures the flow of goods, services and investments, increased to €25.4 billion after an upwardly revised reading of €18.0 billion in August, unadjusted data showed.
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Australia Jobless Rate Falls To 5.4% In October
The unemployment rate in Australia came in at a seasonally adjusted 5.4 percent in October, the Australian Bureau of Statistics said on Thursday.
That beat forecasts for 5.5 percent, which would have been unchanged from the September reading.
The Australian economy added 3,700 jobs in October to 12,297,100, well shy of the forecast for 18,800 following the addition of 19,800 in the previous month.
The participation rate fell to 65.1 percent, missing expectations for 65.2 percent, which would have been unchanged.
Full-time employment increased 24,300 to 8,425,400 in October and part-time employment shed 20,700 to 3,871,700.
Unemployment decreased 8,100 to 701,500. The number of unemployed persons looking for full-time work remained steady at 485,900 and the number of unemployed persons only looking for part-time work decreased 8,100 to 215,600.
Monthly hours worked in all jobs increased 4.6 million hours (0.3 percent) to 1,723.7 million hours.
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European Markets Drop as Commodities Decline, Earnings Mixed
European equities retreat as market sentiment was weighed down by declines in commodity stocks while earnings reports were mixed.
The pan-European STOXX 600 fell 0.49 percent provisionally. It was the index's seventh consecutive session of declines, its longest losing streak since October 2016 when markets fell in the run-up to the U.S. presidential election.
The U.K.'s FTSE 100 dropped 0.56 percent, while France's CAC 40 lost 0.27 percent and Germany's DAX slid 0.44 percent.
Autos were among the biggest losers, slipping 0.9 percent, but declines were spread across sectors as investors continued to take profits following this year's rally.
Basic resources was also one of the worst performers, as lower-than-expected retail sales and industrial production figures recently seen and a drop in metal prices weighed on trade. Copper producer Aurubis lost four percent.
Oil and gas tumbled 1.49 percent due to lower oil prices. Crude oil's price decline added pressure on mining and energy stocks like Rio Tinto and Royal Dutch Shell.
Among oil companies Tullow Oil led declines, dropping 5.2 percent while services firm TechnipFMC and Austrian refiner OMV also fell 3.2 to 4.3 percent.
German rubber maker Lanxess dropped more than three percent after posting its third quarter net profit which turned out to be lower than the previous year. Potash miner K+S plunged more than five percent, after its operating profit and third quarter revenue missed market expectations.
Bucking the trend was Airbus rising 2.35 percent after receiving a 430 airplane order from Indigo Partners. Shares of Cobham also climbed more than 3.5 percent before trimming gains to end 2.36 percent higher, after it issued a trading statement saying its performance for this year remained "unchanged".
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COLOMBIA: Government Lowers Growth Projection For 2017 To 1.8% From 2%
The Colombian economy should grow less than expected in 2017 - from 2% to 1.8% - said the South American country's Minister of Finance, Mauricio C?rdenas. The minister made the estimate after Colombia's statistics office reported that country's Gross Domestic Product (GDP) grew by 2% in the third quarter of 2017 on an annual basis.
According to C?rdenas, the official figures "confirm, once again, that the worst is over, that we overcame the most difficult moment and the economy is in a recovery process."
He also said that the government expects a 2.5% annualized growth in the fourth quarter of 2017.
C?rdenas stressed that the third-quarter's data was much better than the last four quarters records, which "raises a more positive economic scenario."
Finally, the minister announced that the economy is expected to grow around 3% in 2018, in line with the forecasts of the International Monetary Fund (IMF) which, in its most recent report, estimates that the Colombian GDP would increase in a 2.8%.
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