Headlines discussed at LNWM’s Monday morning briefing:
— China’s purchases of U.S. farm goods at 71% of target under trade deal; U.S. Department of Agriculture (USDA) said China had bought over $23 billion goods to date.
— September existing home sales jump 9.4%; Sales were up 20.9% annually but supply remains tight as the current sales pace represents a 2.7-month supply.
— U.S. business activity picks up in October; IHS Markit Composite PMI Output Index which tracks the manufacturing and services sectors, rose to a reading of 55.5 this month.
— Weekly jobless claims drop to nearly their lowest total since the early days of the coronavirus pandemic.; First-time claims for unemployment benefits totaled 787,000 last week.
— The dollar index traded higher Monday, amid general risk aversion sentiment as coronavirus infections continue to spike in Europe and the U.S.
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