Eyes are on the U.S. Elections

Author

Faro Capital
November 03, 2024

Hello everyone,

U.S. elections are on Tuesday, U.S. job numbers lower than expected, and more corporate earnings data is released. Let’s dive in.

 Stocks in the U.S. closed higher on Friday. Amazon rose 6.2% powered by growth in cloud & advertising. U.S. jobs report showed only 12K jobs added in October, below expectations, with analysts. Investors also looking forward to the Fed’s next meeting & the U.S. presidential election.

Markets:

Source: Koyfin

Source: Koyfin

Source: Koyfin

Canada

  • Corus Entertainment working with Jefferies to explore a sell of its business (BNN)

  • Canada GDP was flat in August (BNN)

  • Capital gains income dropped for top earners in 2022 (BNN)

  • Canada on track to be 3rd largest wheat exporter in ‘24/’25 (BNN)

  • Calgary homes sales mostly flat vs last years (BNN)

  • The Port of Montreal says two terminals are closed as worker strike begins (MG)

U.S.

  • Bitcoin briefly hit $70K (CNBC)

  • Ford pointed to the low end of earnings expectations for 2024 (CNBC)

  • Boeing looks to raise $19B in equity sale (WSJ)

  • Chipotle misses earnings (CNBC)

  • Alphabet beats earnings (CNBC)

  • The average 30-yr mortgage rates jump to 6.72% (BNN)

  • Berkshire Hathaway cash on hand over $300B and holds back share buybacks (CNBC)

  • Marc Benioff in talks to sell media company Time to Antenna Group (CNBC)

  • Apple commits $1.5B to Globalstar (CNBC)

  • Merck beats earnings (CNBC)

  • Morgan Stanley to launch index tied to sports leagues (CNBC)

  • Florida development looks to turn marina into top destination (CNBC)

  • Nuclear energy is evolving (WSJ)

Argentina

  • Central Bank drops rate to 35% from 40% (BAT)

  • Exxon agrees to sell Argentina assets to Pluspetrol (BAT)

  • JetSMART adds to Argentina fleet (BAT)

  • Transportation strike hits Argentina (BAT)

  • YPF chief reports company will sell Metrogas shares (BAT)

 

Brazil

  • Brazil could benefit from a tariff war in U.S. (WSJ)

  • Bradesco ROE improves to 12.4%, still behind Santander (RIO)

  • Brazil becomes 4th largest domestic flight market (RIO)

  • Government reach spending deal (Valor)

  • The IDC allocated a record $7.3B in loans to Brazil (Valor)

  • E-commerce sales in Sao Paulo see first drop in 8 years (Valor)

Colombia

  • 74K+ motorcycles were sold in October (Port)

  • List of Colombian Air Force Salaries (Port)

  • Grupo Aval issues new series of bonds (Port)

  • Central Bank drops rates to 9.75% (Port)

Dominican Republic

  • Economy grew 4.7% in Sept. (ELD)

  • Savings grew 14% in two decades (ELD)

Panama

  • Exports rise 1.6%, with Bananas being 14.5% of all exports (LAE)

  • Free trade zones get new investments totaling $36.6M (LAE)

DISCLAIMER: The above is not financial advice or solicitation to buy/trade any financial product/security. This newsletter is for educational purposes only. Any action/decision made by any reader is made of their own free will. Financial markets are full of risk, so be carefu

Thanks for making it this far in the newsletter. If you have any feedback, please reach out anytime. Feel free to refer your friends and colleagues to subscribe. The more subscribers, the bigger our community will be. Stay tuned for more content on the way.