News 

Japan October preliminary machine tool orders -37.4% vs -35.5% y/y prior

“Export orders continue to slump and reaffirms the weakness seen in the global manufacturing sector” reports forexlive.com. Japan is no exception to that and this will feed into another sluggish economic performance in the final quarter of the year. ForexLive The reading measures the change in total value of new orders placed with Japanese machine tool manufacturers. Source: forexlive.com

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News Stocks 

SunPower Stock Is Rising on Plan to Split Into Two

“The solar energy company will become one company focused on energy services and another making solar panels” writes Al Root for nasdaq.com. Solar energy company SunPower is splitting in two.Still, SunPower shares are up 68% year to date, far better than the comparable 25% gain of the S&P 500 over the same span.SunPower will become one company focused on energy services and another making solar panels.SunPower (ticker: SPWR) will focus on electricity distribution and energy services. Source: nasdaq.com

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UK building sector hit by surge in insurance costs after Grenfell fire

“Some insurers have pulled out of the PI insurance market this year after several years of losses” writes Midwest Communications Inc for 95kqds.com. As a result, insurers are increasingly excluding cladding from professional indemnity (PI) policies which protect construction professionals against negligence claims.The difficulties of finding insurance could affect refurbishment and construction projects, including government targets to increase housebuilding, the sources said. Source: 95kqds.com

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Markets News Stocks 

3 Cannabis Stocks with Major Catalysts from Deals Closing

“An additional nagging problem has held back the leading MSO stocks in 2019 with major deals crawling to the finish line” writes Stone Fox Capital for nasdaq.com. The Grassroots deal was one of the last major deals announced before the cannabis stock prices collapsed.The majority of the stocks in the U.S. cannabis sector are down far more than 50% from the highs reached just this year.The U.S. cannabis sector is already massive and growing at a rapid pace.As the U.S. cannabis market continues to grow, the recent weakness in the…

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Markets News Stocks 

Foreign holdings of China equities at record

“The Stock Connect is a scheme to allow foreign investors convenient access to the A-share market” writes Midwest Communications Inc for 95kqds.com. China is stepping up opening of its heavily policed, giant capital markets, having recently scrapped investment quotas under the Qualified Foreign Institutional Investor (QFII) scheme.Robust foreign inflows into the stock market of the world’s second largest economy come as major international index providers, including MSCI, FTSE Russell and S&P, have begun or are stepping up inclusion of China A-shares and bonds on global indexes.Graphic: Foreign investors hiked their…

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Crypto News 

Coinbase Cryptocurrency Exchange Opens Tezos Staking to All US Customers

“United States-based cryptocurrency exchange and wallet service Coinbase said today that it has expanded access for staking the cryptocurrency Tezos (XTZ)” writes Joeri Cant for cointelegraph.com. In exchange for locking up their assets in a staking wallet, customers get rewarded with more assets from the network.Kathleen Breitman, co-founder of Tezos, said at the time: After today, all eligible Coinbase customers holding Tezos on the exchange will be able to collect an estimated return for Tezos staking of around 5% per holding period of 35–40 days.Coinbase has been actively expanding its…

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Portugal hopes European tech investment will drive up exports

“Siza Vieira expects the majority of investment to come from European companies, stating that most of the firms announcing expansion in Portugal at the Lisbon event are European” writes Midwest Communications Inc for 95kqds.com. Virtually non-existent 10 years ago, Portugal’s start-up sector attracted 485 million euros ($537 million) in foreign investment and contributed to 1.1% of GDP last year.LISBON (Reuters) – European investment in Portugal’s digital sector can help address a shortfall in equity funding for start-ups and support an export-driving technology industry, Portugal’s economy minister said on Wednesday.A 30…

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European stocks set to pause on a winning streak, while Société Générale lifts the banking sector

“European stock markets slipped on Wednesday, on the heels of a three-session winning streak that has seen the Stoxx Europe 600 index near its best level in four years” writes Markets Reporter for marketwatch.com. The Stoxx Europe 600 index SXXP, +0.07%, which is headed toward its fifth-straight week of gains was flat at 403.90.Sectors on the move included banking, which traded higher after results from Société Générale, while drug stocks led the decliners.Shares of Adidas ADS, -3.29%  slid 2.4% after the sports retailer reported third-quarter net profit and sales that…

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Markets News 

Dollar gains on trade deal hopes, strong US economic data

“The offshore yuan traded at 7.0005 yuan per dollar, after having risen to three-month high of 6.9867 to the dollar on Tuesday on rising trade deal hopes” reports cnbc.com. The dollar held the upper hand against its rivals on Wednesday, particularly versus traditional safe-haven currencies, on rising hopes for a U.S.-China trade deal and a string of solid U.S. economic data.The dollar index against major currencies was at 97.936, after rising 0.37% on Tuesday to 97.912.Hopes that the Trump administration could roll back some of tariffs it has imposed on…

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News 

Job growth is great but consider what might have been

“Notice that employment growth (and here we are speaking of growth rates, not a simple count of jobs added) has been sliding since January 2019” reports washingtonexaminer.com. In October, leisure and hospitality services was the leading growth sector with 61,000 additional workers.Instead, President Trump tweeted that if the count had been done fully there would have been more than 300,000 jobs added in October.As Wall Street Journal writer James Mackintosh put it, we are observing an unbalanced economy that is infected by trade war difficulties. Source: washingtonexaminer.com

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