1. Google's big event: Google is holding its gadget event on Tuesday. Hardware is a small part of Google's business, but Android and Google Assistant are crucial to the future of Alphabet, Google's parent company.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -119.00 | | -34.75 | | -13.25 | | -0.45% | | -0.47% | | -0.46% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -314.33 | | +4.50 | | -20.70 | | 23,469.39 | | 2,721.01 | | 7,212.63 | | -1.32% | | +0.17% | | -0.29% | | | |
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| | | Biggest Winners | | Nielsen Holdings PLC | +4.13% | | | | Arconic Inc | +2.35% | | | | Newmont Mining Corp | +1.44% | | | | General Motors Co | +1.17% | | | Biggest Losers | | Perrigo Company PLC | -2.47% | | | | Kroger Co | -2.42% | | | | Advanced Micro Devices Inc | -1.74% | | | | AT&T Inc | -1.58% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Google gadgets; Microsoft bets on Grab; IMF downgrades | | By Ivana Kottasová, CNN Business | | | | 1. Google's big event: Google is holding its gadget event on Tuesday. | | | | Hardware is a small part of Google's business, but Android and Google Assistant are crucial to the future of Alphabet, Google's parent company. | | | | Google (GOOGL) is expected to debut a new Pixel 3 and Pixel 3 XL phone, more Google Home devices (perhaps a speaker with a screen) and showcase its plans for mobile and voice software. | | | | The event threatens to be overshadowed by other Google news. On Monday, the company shuttered its long ailing social network Google+ for consumer use after it reportedly failed to disclose a security bug. | | | | 2. Microsoft bets on Grab: Microsoft is teaming up with the ride hailing and payment startup Grab. | | | | As part of the deal, Grab will adopt Microsoft Azure as its preferred cloud platform. In exchange, Microsoft (MSFT) will make a strategic investment in Grab. The two companies did not reveal the size of the investment. | | | | Grab is a key player in southeast Asia, where it recently bought out Uber's regional business. Grab was valued at around $11 billion in August, according to a source with knowledge of the matter. | | | | 3. Trade war downgrade: The International Monetary Fund has cut its economic growth forecasts for the United States and China as the countries clash over trade. | | | | Despite healthy momentum in the United States, IMF economists now expect growth there to slow to 2.5% next year from 2.9% this year. They cut the 2019 forecast by 0.2 percentage points because trade conflicts. | | | | China's growth is now expected to drop to 6.2%, from 6.6% this year. The new 2019 forecast is 0.2 percentage points lower than the fund's previous forecast, reflecting the waves of new tariffs that have taken effect since then. | | | | The more pessimistic forecast comes as the clash between Washington and Beijing threatens to keep escalating and cause damage in other countries. | | | | 4. Global market overview: US stock futures were lower. | | | | European markets opened higher following a mixed trading session in Asia. | | | | The Dow Jones industrial average closed 0.2% higher on Monday. The S&P 500 was flat, and the Nasdaq shed 0.7% as tech stocks continued to struggle. | | | | 5. Companies and economics: AZZ (AZZ) and Helen of Troy (HELE) will release earnings before the open. | | | | Aviva (AVVIY) announced that Mark Wilson is stepping down as CEO. Wilson led the UK insurance company through a transformation that included the £5.6 billion ($7.3 billion) purchase of rival Friends Life. | | | | Mexico's inflation report will be released at 9 a.m. ET. | | | | UK retail sales growth has slumped to the lowest in five months, according to the British Retail Consortium. | | | | | | | |
| | | | | | Tuesday — Google hardware event
Thursday — Delta (DAL) earnings; Walgreens Boots Alliance (WBA); Deadline for Sky shareholders to accept Comcast offer; Monthly OPEC report
Friday — Citigroup (C), JPMorgan Chase (JPM), Wells Fargo earnings (WFC); US consumer sentiment for October | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $74.75 | +0.46 / +0.62% | | | Gold | $1,189.90 | +1.30 / +0.11% | | | 10-yr | 3.23% | +0.01 / +0.25% | | | Euro | $1.14 | -0.01 / -0.44% | | | |
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