Headlines discussed at LNWM’s Monday morning briefing:

— Oil prices hit a four-year low ($82 per barrel of Brent crude) after Saudi Arabia cut prices to the U.S.

— Mid-term elections gave Republicans control of the U.S. Senate and the House of Representatives.

— Repeat homebuyers are driving the U.S. housing market; first-time buyers were just 33% of the total recently, the lowest rate in ~30 years.

— The EC lowered its economic growth forecasts for the Eurozone, to 0.8% for 2014 and 1.1% for 2015.

— Eurozone manufacturing growth was slower than expected in October, as price-cutting failed to lift orders.

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