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Fed meeting; China's exports surge; Musk's new boss

1. Fed meeting: The US Federal Reserve will announce the result of its two-day meeting...

Posted: Nov 8, 2018 12:13 PM
Updated: Nov 8, 2018 12:13 PM

1. Fed meeting: The US Federal Reserve will announce the result of its two-day meeting on Thursday.

Analysts say it's unlikely the policy meeting will produce any big surprises.

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The Fed is expected to stick to its plan to raise interest rates in December, and continue hiking rates gradually in 2019.

2. Tesla shuffle: Tesla (TSLA) announced late Wednesday that Australian telecoms executive Robyn Denholm will replace CEO Elon Musk as head of its board of directors, effective immediately.

Denholm, currently the chief financial officer of Australian telecommunications firm Telstra, is already a member of the Telsa board. She will join Tesla full time after serving a six-month notice period.

Musk was forced to step down as chairman of Tesla and pay a $20 million fine earlier this year to settle charges brought by the US Securities and Exchange Commission.

3. China's exports soar: China's vast export industry appears to be shrugging off the effects of the trade war with the United States, at least for now. Chinese exports surged 16% in October compared with the same month a year earlier, beating analyst forecasts.

The spike in exports was despite October being the first full month that US tariffs on $200 billion of Chinese goods were in effect. But economists say China isn't completely out of the woods yet, with those tariffs set to increase from 10% to 25% at the end of this year.

The surge in October could reflect people looking to beat the December tariff increase, and was helped by the fall in the value of the yuan against the dollar this year.

4. Global stock market overview: Asian markets were mixed on Thursday, while major markets in Europe opened about 0.3% higher before losing a little ground.

US futures were dipping after an impressive run Wednesday following the midterm elections. The Dow and S&P 500 both went up about 2% on Wednesday and the Nasdaq surged 2.6%, as investors cheered a result that saw Democrats take control of the House while Republicans retained the Senate.

A divided government will likely ensure that US economic policies remain unchanged.

5. Companies: Japanese conglomerate Toshiba (TOSBF) saw its stock jump nearly 13% in Tokyo Thursday after announcing a major restructuring plan that will see it sell major assets and cut 7,000 jobs over the next five years. Toshiba also plans to buy back up to 40% of its own shares.

AMC Entertainment (AMC), Disney (DIS) and Yelp (YELP) will report earnings after the close on Thursday.

6. Coming this week:

Thursday — AMC Entertainment (AMC), Activision Blizzard (ATVI), Crocs (CROX), Gannett (GCI), Walt Disney (DIS), Party City (PRTY), Discovery (DISCA), Dropbox (DBX), Hertz Global Holdings (HTZ), Yelp (YELP), FOMC meeting

Friday — E.W. Scripps Co. (SSP), McClatchy (MNI) earnings; consumer sentiment

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 32437

Reported Deaths: 2030
CountyConfirmedDeaths
Marion9371546
Lake3347170
Cass15867
Allen135366
St. Joseph121834
Hendricks113567
Hamilton112391
Johnson1092104
Elkhart107028
Madison58259
Porter49521
Bartholomew48634
Clark47141
LaPorte41523
Tippecanoe3803
Howard37620
Jackson3681
Delaware35936
Hancock32327
Shelby32121
Floyd31539
Boone29335
Morgan27024
Vanderburgh2532
Montgomery23317
White2288
Decatur22431
Clinton2221
Grant19521
Noble19221
Harrison18821
Dubois1852
Henry1709
Greene16824
Warrick16528
Dearborn16421
Monroe16211
Vigo1507
Lawrence14623
Miami1391
Putnam1347
Jennings1284
Orange12422
Scott1183
Ripley1136
Franklin1068
Kosciusko971
Carroll932
Daviess8416
Marshall801
Steuben802
Wayne755
Newton7410
Wabash732
Fayette714
Jasper621
LaGrange622
Washington521
Fulton471
Jay460
Randolph453
Rush452
Jefferson421
Whitley412
Clay411
Pulaski400
Owen341
Sullivan331
DeKalb331
Brown331
Starke313
Perry260
Wells260
Huntington262
Knox250
Benton250
Tipton241
Crawford230
Blackford202
Switzerland190
Fountain182
Parke180
Spencer171
Posey160
Gibson142
Ohio130
Warren121
Adams121
Vermillion100
Martin90
Union80
Pike60
Unassigned0159

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 33439

Reported Deaths: 2044
CountyConfirmedDeaths
Franklin5486243
Cuyahoga4137224
Marion262823
Hamilton2523131
Lucas2162233
Pickaway204635
Mahoning1367173
Summit1315160
Butler82626
Stark70091
Columbiana68250
Lorain65959
Montgomery61716
Trumbull54447
Belmont40312
Miami35130
Warren34419
Tuscarawas3264
Ashtabula31633
Portage31357
Medina31020
Delaware30213
Lake28712
Wood28045
Geauga26129
Wayne25650
Fairfield2484
Clark2316
Licking21811
Mercer2014
Allen20132
Clermont1975
Richland1893
Erie1635
Darke15619
Madison1447
Washington11819
Crawford1103
Morrow1041
Greene985
Ottawa9412
Putnam8714
Monroe7412
Sandusky7011
Hocking694
Ross672
Jefferson652
Auglaize643
Huron551
Williams521
Hancock481
Muskingum460
Union460
Clinton430
Hardin410
Shelby402
Wyandot372
Fayette370
Logan370
Fulton360
Coshocton340
Defiance332
Guernsey330
Preble311
Holmes291
Carroll293
Lawrence280
Champaign271
Brown251
Knox231
Highland191
Seneca192
Vinton191
Ashland190
Perry181
Athens181
Henry150
Scioto150
Paulding130
Jackson120
Harrison100
Adams81
Gallia71
Van Wert60
Pike60
Meigs60
Noble50
Morgan50
Unassigned00
Fort Wayne
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