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Oil droop boosts markets
All major U.S. indexes rose Monday on soft oil prices whereas traders awaited Massive Tech earnings. The pan-European Stoxx 600 index climbed 0.41% after a choppy day of trading. Shares of Dutch well being product large Philips slumped 16.9% after the corporate minimize its full-year forecast on weak demand from China.

Volkswagen places the brakes on bills
Volkswagen is contemplating pay cuts, layoffs and plant closures in Germany, as a part of plans to overtake its enterprise, the corporate’s works council stated on Monday. Volkswagen is not incomes sufficient income from its automobile gross sales, stated Thomas Schäfer, chief government of Volkswagen Passenger Automobiles, whereas it is going through elevated competitors from Chinese language EVs.

Trump accuses Taiwan of stealing enterprise
Former U.S. President Donald Trump accused Taiwan of stealing the nation’s chip enterprise, he stated on “The Joe Rogan Expertise” podcast. Trump additionally stated he would implement tariffs on Taiwan if he had been elected president. Bernstein analyst Stacy Rasgon informed CNBC the concept of Taiwan stealing the U.S.’s chip business is “ridiculous.”

Buying and selling 22 hours a day?
The New York Inventory Alternate presently permits digital buying and selling for 16 hours a day. The bourse, owned by Intercontinental Exchange, desires to increase that to 22 hours a day. Market individuals are divided over whether the move is necessary and even clever. In any case, the proposal won’t go ahead — it has but to obtain regulatory approval.

[PRO] Tech is likely to be in bother, chart reveals
The bursting of the 2000 dot-com bubble was one of many worst moments ever for tech shares. Wolfe Analysis, a sell-side analysis agency, factors out {that a} chart monitoring the efficiency of a fund of tech shares is displaying indicators that history might repeat itself. 

Over the previous decade – and even in an election 12 months – November’s been the very best buying and selling month, on common, for the S&P 500, based on Carson Group data. The final time the S&P fell greater than 1% in November was in the course of the international monetary disaster of 2008.

That commentary’s corroborated by Goldman Sachs, which notes that Oct. 28 marks the start of “the very best buying and selling interval of This fall for U.S. equities with knowledge going again to 1928,” wrote Scott Rubner, the financial institution’s managing director for international markets.

Markets did certainly rise yesterday. The S&P added 0.27%, the Dow Jones Industrial Average gained 0.65% and the Nasdaq Composite superior 0.26%. That added to the S&P’s year-to-date acquire, which stands at 22.1%.

That robust displaying within the earlier a part of the 12 months boosts November’s seasonal impact much more, based on Bank of America’s Chief Fairness Technical Strategist Stephen Suttmeier.

“When the SPX is up YTD via October, which is the probably state of affairs for 2024, the index is up 79% of the time for the November-December interval on common,” wrote Suttmeier in a Monday be aware.

Earlier than getting too excited, nonetheless, be mindful analysts are bullish on shares over a two-month interval. The 12 months forward stretches lengthy and vast: nothing lasts endlessly, even shares’ November reign.

— CNBC’s Alex Harring, Pia Singh, Scott Schnipper, Hakyung Kim and Tanaya Macheel contributed to this report.