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Morning Brief: Trump tax-cut stimulus still isn't here


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Thursday, November 1, 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="Apple’s report after the close on Thursday will be the most closely-watched corporate event of the week, with investors looking for the iPhone maker to report earnings per share of $2.78 on revenue of $61.5 billion. Investors will also be keeping a close eye on the average selling price for iPhones this quarter, a key measure for gauging how much pricing power Apple (AAPL) continues to have with its flagship device.” data-reactid=”30″>Apple’s report after the close on Thursday will be the most closely-watched corporate event of the week, with investors looking for the iPhone maker to report earnings per share of $2.78 on revenue of $61.5 billion. Investors will also be keeping a close eye on the average selling price for iPhones this quarter, a key measure for gauging how much pricing power Apple (AAPL) continues to have with its flagship device.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Trump tax-cut stimulus still isn’t here: The economy is doing well, but 10 months after a steep Republican tax cut went into effect, there remains scant evidence the cuts are boosting business investment as Republicans promised.The tax cuts, which passed Congress with no Democratic support last December, slashed the corporate tax rate from 35% to 21%, and also cut the tax burden for most individual payers. Yet the tax cuts remain unpopular, with slightly more people disapproving than approving. [Yahoo Finance]” data-reactid=”52″>The Trump tax-cut stimulus still isn’t here: The economy is doing well, but 10 months after a steep Republican tax cut went into effect, there remains scant evidence the cuts are boosting business investment as Republicans promised.The tax cuts, which passed Congress with no Democratic support last December, slashed the corporate tax rate from 35% to 21%, and also cut the tax burden for most individual payers. Yet the tax cuts remain unpopular, with slightly more people disapproving than approving. [Yahoo Finance]

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Bank rules are seen easing further even If Dems seize House:  Efforts to ease post-crisis banking rules probably will continue even if Democrats triumph in next week’s midterm elections and pressure regulators to reverse course. [Bloomberg]” data-reactid=”53″>Bank rules are seen easing further even If Dems seize House:  Efforts to ease post-crisis banking rules probably will continue even if Democrats triumph in next week’s midterm elections and pressure regulators to reverse course. [Bloomberg]

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Fitbit shares spike on earnings beat: The fitness electronics maker returned to profitability on a non-GAAP basis for the first time in two years and beat Wall Street’s expectations on the top and bottom lines. Fitbit (FIT) reported adjusted earnings of 4 cents per share, versus consensus estimates of a loss of a penny per share. Shares of Fitbit spiked 10.67% as of 4:15 p.m. ET Wednesday. [Yahoo Finance]” data-reactid=”54″>Fitbit shares spike on earnings beat: The fitness electronics maker returned to profitability on a non-GAAP basis for the first time in two years and beat Wall Street’s expectations on the top and bottom lines. Fitbit (FIT) reported adjusted earnings of 4 cents per share, versus consensus estimates of a loss of a penny per share. Shares of Fitbit spiked 10.67% as of 4:15 p.m. ET Wednesday. [Yahoo Finance]

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Google workers walk out to protest office inequalityHundreds of Google employees and contractors in Asia staged brief midday walkouts on Thursday, with thousands more expected to follow at offices worldwide, amid complaints of sexism, racism and unchecked executive power in their workplace. [Reuters]” data-reactid=”55″>Google workers walk out to protest office inequalityHundreds of Google employees and contractors in Asia staged brief midday walkouts on Thursday, with thousands more expected to follow at offices worldwide, amid complaints of sexism, racism and unchecked executive power in their workplace. [Reuters]

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Hong Kong reveals crypto rules: Hong Kong’s securities watchdog unveiled new rules for cryptocurrency funds and said it may regulate digital-asset exchanges, joining a global push to improve supervision of an industry whose rapid expansion has attracted everyone from mom-and-pop investors to Wall Street banks. [Bloomberg]” data-reactid=”56″>Hong Kong reveals crypto rules: Hong Kong’s securities watchdog unveiled new rules for cryptocurrency funds and said it may regulate digital-asset exchanges, joining a global push to improve supervision of an industry whose rapid expansion has attracted everyone from mom-and-pop investors to Wall Street banks. [Bloomberg]

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