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Here’s what you need to know before markets open.
1. Global stocks gain, but the looming US stimulus vote feed investor jitters. European-based market gauges of volatility rose, reflecting greater investor nervousness. See what markets are doing here.
2. Goldman Sachs agrees to pay $2 billion over its role in 1MDB probe, report says. The settlement with the Justice Department would help avoid a criminal conviction for the bank.
3. UBS posted a 99% jump in third-quarter net profit. The Swiss lender saw net income rise to $2.1 billion, smashing analyst expectations of $1.5 billion for the quarter as revenue from trading and wealth management surged.
4. Warren Buffett may have cut his Wells Fargo stake because the bank ignored his advice. Berkshire Hathaway slashed its position in the bank by over 60% this year perhaps because directors hired a Wall Street executive as their new CEO.
5. Goldman Sachs says next US stimulus to depend on makeup of the Senate. A narrow majority would likely result in less fiscal stimulus than a larger majority of 53 or 54 seats, chief economist Jan Hatzius said.
6. Earnings expected. Procter & Gamble, Netflix, Texas Instruments, Lockheed Martin, and Snap are highlights.
7. On the data docket. The American Petroleum Institute’s weekly crude oil stock and the US building permits change are due.
8. Tips from a portfolio manager who dominated a volatile 3rd quarter. Cathie Wood of Ark Invest shares 8 winning stocks that helped her suite of ETFs return more than double the market.
9. Major takeaways from a global money manager analysis.UBS broke down the stock-picking preferences of both the buy and sell sides, offering insights into sentiment.
10. 6 financial-sector stock picks from Bank of America.As the economy goes, so do bank stocks – and BofA has done the math around which ones are set to spring.
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