International News (Issue 423) – 28 October 2016

International News (Issue 423) – 28 October 2016

image_pdfimage_print

 

International News (Issue 423) – 28 October 2016  

In the international space, US manufacturing PMI figures were published earlier this week with October figures coming in at 53.2, exceeding expectations. US factory activity growth is now at a 12 month high and further points to an accelerated pace of new business growth and activity. This provides further stimulus for the Fed to hike rates in December. The market is currently favouring a rate rise with a 62% chance this occurs in December.

No significant developments out of the US Presidential race this week…somewhat of a surprise! With the debates now finished, early voters have begun to visit polling booths in what appears likely to be a Clinton victory. That being said, one only has to think back to the Brexit vote 4 months ago to witness an unlikely scenario prevail.

Clinton 82%, Trump 18%

Apple shares are down 2% this week following somewhat disappointing earnings. Fourth quarter earnings weakened 19% due to lower iPhone sales volumes.

Finally, the UK economy actually expanded 0.5% in the quarter following the decision to vote in favour of exiting the EU. Whilst this was still softer than the 0.7% growth in the previous quarter, it managed to exceed analyst forecasts of 0.3%

Index Change %
U.S. S&P 500 2133 -8 -0.4%
London’s FTSE 6987 -40 -0.6%
Japan’s Nikkei 17336 +100 +0.6%
Hang Seng 23132 -242 -1.0%
China’s Shanghai 3112 +28 +0.9%

 

Disclaimer:
This information has been prepared by Primestock Securities Limited ABN 67 089 676 068, AFSL 239180 (“Prime”). Prime accepts no obligation to correct or update the information or opinions in it. This information does not take into account your objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate to your situation. It is recommended that you obtain financial, legal and taxation advice before making any financial investment decision. Prime is bound by the Australian Privacy Principles for the handling of personal information.

 

MAKE AN APPOINTMENT

Start planning your future with Prime.

Prime: A complete Wealth Management & Accounting Advice Experience
MAKE AN APPOINTMENT
By | 2017-06-16T15:16:16+10:00 October 28th, 2016|International News|0 Comments

About the Author:

Prime is an Integrated Wealth Management Firm for business owners and family groups. Prime’s goal is to become the Premier Partner to Accountants for Growth, Succession and Integrated Wealth Management and to deliver personalised advice to clients for a secure financial future.