Finance

Morning Brief: Futures edge higher as election results come in as expected


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Wednesday, November 7, 2018

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What to watch today

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="All eyes will be on the stock market’s reaction to the U.S. midterm election results. As expected, the Democrats took control of the House of Representatives while Republicans maintained control of the Senate. U.S. equity futures were modestly higher as the results came in.” data-reactid=”30″>All eyes will be on the stock market’s reaction to the U.S. midterm election results. As expected, the Democrats took control of the House of Representatives while Republicans maintained control of the Senate. U.S. equity futures were modestly higher as the results came in.

The stock market has generally seen positive returns in the 12 months following midterm elections, according to John Lynch, LPL Financial’s chief investment strategist. “When it comes to stock market performance, we would argue that election outcomes are not particularly important. Regardless of the election’s outcome, the S&P 500 Index has been positive during the 12 months following the midterm election 18 straight times going back to 1946,” he said in a note on Tuesday.

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Top news

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(Photo by Nicholas Kamm / AFP) (Photo credit should read NICHOLAS KAMM/AFP/Getty Images)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Here’s everything Trump is going to blame on Democrats: President Trump is a pre-emptive scapegoater who thinks ahead when contemplating who to blame for things gone wrong. And he just got an important new bogeyman. With Democrats winning the House of Representatives in this year’s midterm elections, half of Congress will be controlled by the party in opposition to Trump. They won’t be able to pass laws on their own, or override a Trump veto. But House Democrats will be a huge new presence in Washington, because Trump is likely to blame them for everything that doesn’t go his way. [Yahoo Finance]” data-reactid=”54″>Here’s everything Trump is going to blame on Democrats: President Trump is a pre-emptive scapegoater who thinks ahead when contemplating who to blame for things gone wrong. And he just got an important new bogeyman. With Democrats winning the House of Representatives in this year’s midterm elections, half of Congress will be controlled by the party in opposition to Trump. They won’t be able to pass laws on their own, or override a Trump veto. But House Democrats will be a huge new presence in Washington, because Trump is likely to blame them for everything that doesn’t go his way. [Yahoo Finance]

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Papa John’s reports tumbling sales: Papa John’s (PZZA) reported disappointing third-quarter financial results and slightly better-than-anticipated sales in North America. Same-store sales, a key metric for restaurants, fell less than expected at a 9.8% rate. Analysts were expecting a sales decline of 10.7% for the third quarter.” data-reactid=”55″>Papa John’s reports tumbling sales: Papa John’s (PZZA) reported disappointing third-quarter financial results and slightly better-than-anticipated sales in North America. Same-store sales, a key metric for restaurants, fell less than expected at a 9.8% rate. Analysts were expecting a sales decline of 10.7% for the third quarter.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Tinder-parent Match Group gives disappointing guidance: Match Group (MTCH) beat Wall Street’s expectations on the top and bottom lines in the third quarter as new subscribers continued to swipe right on dating app Tinder. Earnings on a GAAP basis were 44 cents per share, 11 cents higher than consensus estimates, according to Bloomberg data. Revenue increased 29% year-over-year to $444 million, exceeding the average forecast of $438.21 million. [Yahoo Finance]” data-reactid=”56″>Tinder-parent Match Group gives disappointing guidance: Match Group (MTCH) beat Wall Street’s expectations on the top and bottom lines in the third quarter as new subscribers continued to swipe right on dating app Tinder. Earnings on a GAAP basis were 44 cents per share, 11 cents higher than consensus estimates, according to Bloomberg data. Revenue increased 29% year-over-year to $444 million, exceeding the average forecast of $438.21 million. [Yahoo Finance]

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Dell discusses sweetening tracking-stock offer: Dell Technologies Inc. has been contacting large shareholders of an affiliate about sweetening a roughly $22 billion bid to buy them out before the unpopular deal goes to a vote next month. [The Wall Street Journal]” data-reactid=”57″>Dell discusses sweetening tracking-stock offer: Dell Technologies Inc. has been contacting large shareholders of an affiliate about sweetening a roughly $22 billion bid to buy them out before the unpopular deal goes to a vote next month. [The Wall Street Journal]

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Adidas hikes 2018 profit outlook on top-end shoe success: Adidas raised its 2018 profit forecast on Wednesday after selling more of its top-end sports shoes, although the German sportswear and fashion firm cut its revenue target due to a fall in sales in western Europe. Chief Executive Kasper Rorsted has focused on improving profitability at Adidas, which long lagged bigger rival Nike, since he took over in 2016. [Reuters]” data-reactid=”58″>Adidas hikes 2018 profit outlook on top-end shoe success: Adidas raised its 2018 profit forecast on Wednesday after selling more of its top-end sports shoes, although the German sportswear and fashion firm cut its revenue target due to a fall in sales in western Europe. Chief Executive Kasper Rorsted has focused on improving profitability at Adidas, which long lagged bigger rival Nike, since he took over in 2016. [Reuters]

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="More from Yahoo Finance” data-reactid=”59″>More from Yahoo Finance

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Businesses thinking about acquiring Under Armour face a key hurdle” data-reactid=”60″>Businesses thinking about acquiring Under Armour face a key hurdle

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Investors are using this REIT to bet on Amazon’s HQ2” data-reactid=”61″>Investors are using this REIT to bet on Amazon’s HQ2

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Americans continue to quit their jobs in droves” data-reactid=”62″>Americans continue to quit their jobs in droves

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Joe Camel illustrator: E-cig maker Juul’s marketing ‘seems more egregious’” data-reactid=”63″>Joe Camel illustrator: E-cig maker Juul’s marketing ‘seems more egregious’

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The era of insanely cheap flights may be coming to a close” data-reactid=”64″>The era of insanely cheap flights may be coming to a close

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