Financial Markets and Economy
U.S. stock futures surge after Clinton cleared by FBI (Reuters)
The 1.3 percent move in S&P 500 e-mini futures ESc1 cut in nearly half the losses in futures over the past nine sessions, and came a few hours after the FBI said that newly discovered emails had not changed the agency's conclusion that no charges were warranted in the case of Democratic presidential candidate Hillary Clinton's use of a private server.
OPEC Chief Says Russia on Board With Deal to Limit Output (Bloomberg)
Russia, the world’s biggest energy producer, is “on board” with an OPEC agreement to limit crude oil production to help re-balance the market, according to OPEC Secretary General Mohammed Barkindo.
Hedge Funds Are Turning Into OPEC Skeptics (Bloomberg)
Oil investors are growing more doubtful that OPEC can seal a deal.
Money managers reduced bets on higher oil prices by the most since July 2014 after the group failed to agree on country quotas in talks on Oct. 28 in Vienna.
Risk plays roar back as Clinton's prospects brighten (Reuters)
Stocks and the dollar posted their biggest gains in weeks on Monday after the FBI said it stood by a recommendation that no criminal charges were warranted against Hillary Clinton.
Hong Kong Stocks Advance From Three-Month Low; Developers Plunge (Bloomberg)
Hong Kong’s benchmark stock index rose from a three-month low as the FBI said Hillary Clinton’s handling of her e-mails wasn’t a crime, boosting her chances on the eve of the U.S. elections. Property developers tumbled as the government boosted measures to curb surging home prices.
Steelmakers Brace for EU-China Trade Proposal: Brussels Beat (Bloomberg)
For China, it’s a question of respect. For some European Union manufacturers, it’s a matter of survival. And for EU policymakers, it’s one of the hottest political potatoes around.
European Shares Advance as FBI Exonerates Clinton, HSBC Surges (Bloomberg)
A HSBC-inspired rally in banks, and the Federal Bureau of Investigation’s reiterated exoneration of Hillary Clinton’s e-mail usage propelled a rebound in European shares after their worst week since February.
Yuan Slumps Most in a Month as Depreciation Pressures Intensify (Bloomberg)
The yuan dropped the most in a month after the central bank weakened the currency’s reference rate and the greenback rebounded.
Oil prices rebound, driven by latest U.S. political developments (Market Watch)
Crude futures advanced in early Asia trade Monday on a technical rebound after falling to a six-week low overnight, as investors anxiously await the outcome of the U.S. presidential elections this week.
Asian Stocks Climb as Risk Appetite Returns After FBI Statement (Bloomberg)
Asian stocks rose after the Federal Bureau of Investigation reaffirmed its view that Hillary Clinton’s handling of her e-mails as secretary of state wasn’t a crime. Hong Kong developers tumbled after city’s government took steps to cool the world’s least affordable home market.
Chinese Investors Are in Love With U.S. Dollar Debt (Bloomberg)
Terence Cheng, a fixed-income fund manager based in Hong Kong, has never gotten so many Chinese client inquiries for overseas dollar bonds. Their questions sent over WeChat, the popular Chinese instant-messaging service, even interrupted his beach vacation in Thailand.
Indonesia’s Economic Growth Slows to 5%, Matching Forecasts (Bloomberg)
Indonesia’s economy grew in line with economists’ forecasts in the third quarter as President Joko Widodo seeks to spur the nation onto a higher growth path.
Dow futures jump more than 200 points after FBI says no charges for Clinton (Market Watch)
U.S. stock futures soared early Monday after the Federal Bureau of Investigation said its fresh review of Hillary Clinton’s emails won’t lead to charges, triggering a relief rally as political worries eased.
Global Economy Week Ahead: China Trade, EU Forecasts, Postelection Fed Speakers (The Wall Street Journal)
Tuesday’s U.S. election is the big event this week, but reports from Asia and Europe also will provide clues about the direction of the global economy. In the U.S., Federal Reserve officials contemplating a December rate increase may offer first hints in scheduled appearances on how the election results could influence their decision.
A Trump Win Could Sink the Dollar (Bloomberg)
The dollar’s surge after the Federal Bureau of Investigation cleared Hillary Clinton of committing a crime sent the greenback close to the levels likely to prevail if she won the presidential election.
Don’t Worry When the Stock Market Goes Crazy After Election (Bloomberg)
In the hours after the president is elected, equity investors need to brace for volatility. What they shouldn’t do is panic.
Dow Futures Soar 240 Points, Global Stocks, Oil, Dollar Jump After FBI Clears Hillary Clinton (Zero Hedge)
US Index futures, European and Asian shares surged most in weeks after the FBI cleared Hillary Clinton one last time of her handling of emails as secretary of state which it repeated wasn’t a crime. Oil, gas rise, together with most industrial metals; the VIX, yen and Swiss franc retreated with gold, silver and other flight to safety assets.
Companies
Tesco Bank has suspended all online payments after hackers stole money from 20,000 accounts (Business Insider)
Tesco Bank has suspended online payments for current account customers after a cyber attack left thousands of customers out of pocket.
Millennial banking startup Loot raised another £2.5 million (Business Insider)
Loot, a banking services app pitched at millennials, topped up its seed funding round with an extra £2.5 million ($3.1 million), taking the total raised this year to £4 million.
Tesco Bank: Cash stolen from 20,000 accounts (CNN Money)
The banking division of Britain's biggest supermarket chain said 40,000 accounts had been affected by "online criminal activity" over the weekend, but money was fraudulently taken from only half of the accounts.
Technology
AT&T Rivals Make Wish Lists as Review of Time Warner Deal Begins (Bloomberg)
As AT&T Inc. and Time Warner Inc. seek government approval for their $85 billion megadeal, some of their most important negotiations may take place in private conversations with rival executives instead of in the nation’s capital.
SoftBank’s Son Shifts Gears on Funding for Investments (The Wall Street Journal)
TOKYO—SoftBank Group Corp. Chief Executive Masayoshi Son said Monday he would ease SoftBank’s debt load by using a $100 billion fund he is establishing with Saudi and other investors as his vehicle for large investments.
Nissan Says U.K. Gave Assurance Before Making New Investments (Bloomberg)
Nissan Motor Co. was given assurances by the U.K. government before last month’s announcements of new investments that the industry would be kept competitive amid uncertainties over Brexit, said a top executive of the Japanese automaker.
France will trial a flying water taxi which surfs two feet above water (Business Insider)
The vessel, named Sea Bubble, can travel up to 30 kilometers per hour and can seat five people including a driver. According to the Telegraph, the vessel’s chassis will be made of fiberglass and high-density foam.
Microsoft's futuristic HoloLens headset is one of the wildest bits of tech I've ever experienced (Business Insider)
We're not in the future yet, but you can see it from here.
Samsung Tests Button for Improved AI Feature on Galaxy S8 Phone (The Wall Street Journal)
The South Korean smartphone giant is considering a hardware revamp for its next flagship smartphone that could add a dedicated button for an improved artificial-intelligence feature, people familiar with the matter said, as it seeks to woo smartphone users after a disastrous product recall last month.
Why Google and Huawei Can't Resist the Smartphone Business (Fortune)
When I mused last week that hardware is hard, I didn’t even mention the difficulty of surviving in that peskiest and most profitable segment of the hardware business: smartphones.
Toyota could abandon hydrogen in favor of EVs (Engadget)
Toyota has been vocal in its belief that hydrogen-powered vehicles like the Mirai will eventually replace gas and diesels. But this insistence makes the company's recent decision to launch a long-range EV similar to the Tesla such a surprise.
AMD’s New Workstation Cards Are Slim, Yet Powerful (Digital Trends)
With every passing day, an increasing number of professionals rely on GPU-assisted software to get the job done. Whether that’s 3D modeling, prototyping, geological work, or creative pursuits, workstations are becoming more common in the workplace.
Politics
Trump rejects FBI's email conclusion (Politico)
STERLING HEIGHTS, Mich. — Reacting to news that the FBI won't change its determination in the Hillary Clinton email probe, Republican nominee Donald Trump made it clear he still regards her as guilty and is convinced she will ultimately face justice.
‘She’s got it,’ predicts Clinton ally after FBI news / Gingrich says Comey caved (Market Watch)
“She’s got it,” a close friend of the Democratic nominee told the Hill after FBI Director James Comey said recently discovered emails hadn’t changed his conclusion that a case isn't warranted against Clinton for her use of a private email server when she was secretary of state. A Clinton aide simply sent the Hill a celebratory emoji when asked about the news.
Monday’s Morning Email: The State Of The Campaign After The FBI’s Latest Announcement (The Huffington Post)
FINAL DAY BEFORE ELECTION DAY HuffPost Pollster’s Natalie Jackson shares how to make sense of the final onslaught of polls. Read Donald Trump and Hillary Clinton’s dueling op-eds on why you should vote for them.
Clinton gets boost from FBI as tight White House race hits final day (Reuters)
Democrat Hillary Clinton heads into the final day of a tight White House race against Republican Donald Trump on Monday with new momentum after the FBI said no criminal charges were forthcoming in an investigation of her email practices.
How California's Marijuana Legalization Vote Could Impact The Entire Country (Forbes)
It is highly likely the measure will pass Tuesday. On Oct, 16, a SurveyUSA poll showed 51% in favor and 40% against. More recently, a USC Dornsife/Los Angeles Times poll showed 58% for and 34% against the ballot measure.
Here's how Paul Ryan can become the next president (Business Insider)
The electoral college decides the next president, and of the 538 total electoral votes, a candidate needs 270 to win. Here's what would happen if somehow a tie occurred, or if neither candidate has enough votes to reach 270.
Win or lose, Republicans are heading for civil war after election day (The Guardian)
Not long after he launched his rocket of a campaign last summer, Donald Trump walked into a gathering of hardcore conservative activists in Nashville, Tennessee. Meeting a Manhattan businessman with no clear ideological discipline, the crowd could have been skeptical at best and hostile at worst.
Somali migrants are 'disaster' for Minnesota, says Donald Trump (The Guardian)
Donald Trump on Sunday warned darkly of the danger posed by Somali migrants in Minneapolis, a deeply segregated city that has the largest Somali-American community.
FBI Director James Comey Is Unfit For Public Service (Newsweek)
James Comey should not simply be fired as director of the Federal Bureau of Investigation. He must be barred forever from any form of public service.
Tepper says Trump is ‘father of lies’ when it comes to charitable giving (Market Watch)
Billionaire hedge-fund manager David Tepper went off on Republican nominee Donald Trump in a CNBC interview on Monday, slamming the real estate mogul for a lack of charitable giving.
Health and Biotech
Laser probe lets brain surgeons identify cancer cells with sound (New Scientist)
It takes steady hands and experienced eyes to remove brain tumours. Soon, sharp ears could also be crucial, with surgeons being guided by sound as to whether they are slicing through cancerous or healthy cells.
Physicists have finally confirmed a decades-old explanation of phase transitions (Science Alert)
These aren't the traditional phase transitions we learnt about in high school, where solids transform into liquids, or liquids to gas. In continuous phase transitions, tiny, quantum defects are formed, where some matter is stuck between regions in distinct states.
Mosquitoes Will Save Us All … from Mosquitoes (Scientific American)
This month the first U.S. experiment to release genetically modified (GM) mosquitoes into the wild gets put to a vote in Key Haven, Fla., and the county of Monroe. If the Florida Keys Mosquito Control District then approves the trial, U.K. biotech firm Oxitec will release millions of mutant male mosquitoes that had required an antibiotic to stay alive until adulthood.
Life on the Home Planet
Earthquake Rocks Central Oklahoma Oil Town (Bloomberg)
Cushing, Okla. (AP) — A sharp earthquake centered near one of the world's key oil hubs Sunday night triggered fears that the magnitude 5.0 temblor might have damaged key infrastructure in addition to causing what police described as "quite a bit of damage" in the Oklahoma prairie town of Cushing.
U.N. says investigating Afghanistan air strike deaths (Reuters)
The United Nations said it was investigating an incident in which more than 30 civilians were killed in U.S. air strikes called in support of a special forces raid on suspected Taliban militants in northern Afghanistan on Thursday.
Israel says 'no' to Middle East peace conference in Paris (Reuters)
Israel on Monday formally rejected France's invitation to take part in a Middle East peace conference in Paris later this year, saying it was a distraction from the goal of direct negotiations with the Palestinians.
