FBN’s Lauren Simonetti and Wall Street Journal assistant editorial page editor James Freeman on the market volatility, the October jobs report and Apple’s fourth-quarter earnings report.
Stocks were flat Monday as investors took a wait-and-see approach ahead of the midterms while digesting the latest batch of corporate results.
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Americans go to the polls Tuesday, in a highly contested election that could see the House flip from Republican to Democrat. While earnings season is fast winding down, some big names will be posting their July-September results this week.
The United States is putting oil and financial sanctions against Iran back in effect on Monday. The move is to curb Iran’s missile and nuclear programs and counter its growing military and political influence in the Middle East.
The move puts back in place U.S. sanctions that were lifted under a 2015 nuclear deal negotiated by the administration of President Obama. They will also add 300 new designations in Iran’s oil, shipping, insurance and banking sectors.
Economic data released Monday included the IHS Markit U.S. services PMI, which rose to 54.8 in October from 53.5. The ISM services index fell to 60.3 in October from 61.6.
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On Friday, the latest monthly jobs report showed that the U.S. economy remains on solid footing with the addition of 250,000 jobs in October, and the 3.7 percent unemployment rate holding at the lowest level since 1969. Wages also rose 3.1 percent the best gain since the recession.