OPENING CALL: The Australian share market is expected to open lower. The SPI200 futures contract expected to open down 23 points.
AT&T is preparing to unveil its answer to Netflix, a multibillion-dollar gamble that the media and telecom giant can sell a premium streaming-video service when rivals are flooding the market with cheaper alternatives.
Aramco is set to launch its long-delayed initial public offering this weekend and aims to begin trading on the Saudi stock market in early December.
Each Market in Focus
Australian shares again inched higher, extending their run to a seventh straight session — the longest winning streak since early April.
Though the S&P/ASX 200 rose as much as 0.3% in early trading, the index closed just 4.7 points higher at 6745.4.
Gains by miners buoyed the index, helped by a rebound in technology companies. Coles also helped, with shares gaining 3.1% after the company posted higher first-quarter sales. Still, the heavily weighted big banks eased slightly ahead of the start of second-half earnings this week, and energy and utilities stocks also lost ground.
U.S. stocks intraday inched higher a day after the S&P 500 closed at a record, as investors sifted through a heavy batch of earnings reports and awaited key economic data later this week.
The broad stock-market index ticked up 0.2%, building on Monday’s high – the index’s first record since July. The Dow Jones Industrial Average rose 36 points, or 0.1%, while the Nasdaq Composite declined 0.3% as tech stocks stumbled in the wake of Alphabet’s disappointing earnings report.
Both the Dow and Nasdaq are within 1% of their July highs. Major stock indexes have been largely rangebound the past few months, and observers
aren’t convinced yet that the range has been broken with the latest move up.
Analysts surveyed by S&P Global Platts look for the EIA to report U.S. crude
inventories rose by 2.5 million barrels for the week ended Oct. 25, while gasoline stocks are forecast to fall by 2.5 million barrels. Distillate inventories are expected to show a drop of 2.4 million barrels.
The measure was recently down 0.1% at 97.69 and has largely stayed between 96 and 99 for much of 2019.
Most European markets ended broadly in the red as political uncertainty weighs on the U.K.
The Stoxx Europe 600 dropped 0.2%, the FTSE 100 was off 0.3%, the DAX lost 0.02% but the CAC-40 gained 0.2%.
U.K. stocks were lower in the face of a potential general election in December, though sterling only managed modest gains.
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