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Asian manufacturing hubs faced challenges in October due to weak U.S. demand and tariff impacts. PMI data showed slowed growth in China and declines in South Korea, with export orders dropping across the region. Recent trade negotiations provided limited relief as structural economic headwinds persist.
Asian manufacturing hubs faced challenges in October as weak U.S. demand and tariffs impacted factory orders across the region. PMI data showed slowed growth in China and contraction in South Korea, with export orders declining in both countries. While recent trade negotiations showed some progress, economists expect only modest improvements.
Cryptocurrencies edged lower Sunday with Bitcoin down 1.7% to $108,000 and Ethereum falling 3.5% to $3,750. Traders positioned ahead of key US employment data while digesting Treasury Secretary Scott Bessent's comments that high rates are straining parts of the economy. Bitcoin faces technical resistance at $113,000 with potential support near $88,000 if declines continue.
Hertz is set to report Q3 earnings with analysts expecting a 6.7% year-over-year revenue decline to $2.40 billion. The car rental company has missed Wall Street revenue estimates five times in the last two years. Adjusted earnings are projected at $0.07 per share.
Marriott is set to report Q3 earnings with analysts expecting 2.8% revenue growth to $6.43 billion and adjusted earnings of $2.39 per share. The company has missed revenue estimates three times in the past two years, while peers show mixed performance in the travel sector.
Yum! Brands is set to announce Q3 earnings with analysts expecting 9.7% revenue growth to $2 billion. The company faces market uncertainty as fast food stocks have declined 6.1% average over past month. Peer performances show mixed results with Restaurant Brands and Domino's beating expectations.
Analysts have increased Manulife Financial's consensus fair value estimate from CA$48.20 to CA$49.13, reflecting the company's strong recent earnings and operational performance. This upward adjustment occurs despite ongoing sector caution and broader market uncertainties.
Ralliant (RAL) shares traded with minimal movement as investors evaluate the company's current valuation. Despite a P/E ratio of 17.4x that sits below industry and peer averages, suggesting potential undervaluation, the stock's year-to-date return of -7.5% indicates faded momentum. A DCF model values the company at $49.22 per share, approximately 10.8% above current levels.
President Trump stated that Nvidia's top-tier Blackwell AI chips will be exclusively available to U.S. companies, not China or other countries. He suggested potential tighter restrictions on AI chip exports than previously indicated, though less advanced versions might still be sold to Chinese firms.