TOKYO (AP) — International stock markets fell today after another slump in oil prices added to doubts about the strength of global demand and China’s manufacturing output grew at the slowest pace in five months. Futures point to opening bel gains on Wall Street today. Benchmark U.S. crude oil was down but remains above $80 a barrel. The dollar inched up against the yen and was little changed against the euro.
WASHINGTON (AP) — The government will release its weekly jobless claims report today. Freddie Mac will report the weekly mortgage rates and the Conference Board will issue its report on September’s leading economic indicators. There are more earnings reports today. 3M, Comcast, General Motors, Caterpillar, United Continental, Southwest Airlines, American Airlines and Union Pacific report quarterly financial results before the market opens. Amazon and Microsoft report after the closing bell.
BEIJING (AP) — A gauge of the health of China’s manufacturing industry inched higher in October but factory output was at a five-month low in a sign of slowing domestic and foreign demand. HSBC says the preliminary version of an index based on a survey of factory purchasing managers rose to 50.4 from 50.2 in September. Figures above 50 on the 100-point scale indicate expansion. HSBC’s chief China economist says the world’s No. 2 economy continues to show signs of “insufficient” demand.
SEOUL, South Korea (AP) — Hyundai Motor Co. says its profit sank nearly 30 percent for the July-September quarter, hurt by a stronger South Korean currency and weak sales growth in its home market. South Korea’s largest carmaker says its third quarter net income of 1.6 trillion won ($1.5 billion) was down 28 percent from 2.3 trillion won a year earlier. Sales rose 2 percent and Hyundai says it sold 3.62 million vehicles during the first nine months of the year, 4 percent higher from a year earlier.
MADRID (AP) — Spain’s tumbling economy is beginning to show signs of reversing course. The unemployment rate dropped to 23.7 percent in the third quarter from 24.5 percent in the previous three-month period. The National Statistics Institute says the number of jobless people fell by 195,200 in the quarter, leaving the total number of unemployed at a rounded 5.4 million. That’s down from 5.6 million in the second quarter. Spain is recovering from two recessions.
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