Fed meeting; China's exports surge; Musk's new boss

1. Fed meeting: The US Federal Reserve will announce the result of its two-day meeting...

Posted: Nov 8, 2018 11:13 AM
Updated: Nov 8, 2018 11:13 AM

1. Fed meeting: The US Federal Reserve will announce the result of its two-day meeting on Thursday.

Analysts say it's unlikely the policy meeting will produce any big surprises.

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The Fed is expected to stick to its plan to raise interest rates in December, and continue hiking rates gradually in 2019.

2. Tesla shuffle: Tesla (TSLA) announced late Wednesday that Australian telecoms executive Robyn Denholm will replace CEO Elon Musk as head of its board of directors, effective immediately.

Denholm, currently the chief financial officer of Australian telecommunications firm Telstra, is already a member of the Telsa board. She will join Tesla full time after serving a six-month notice period.

Musk was forced to step down as chairman of Tesla and pay a $20 million fine earlier this year to settle charges brought by the US Securities and Exchange Commission.

3. China's exports soar: China's vast export industry appears to be shrugging off the effects of the trade war with the United States, at least for now. Chinese exports surged 16% in October compared with the same month a year earlier, beating analyst forecasts.

The spike in exports was despite October being the first full month that US tariffs on $200 billion of Chinese goods were in effect. But economists say China isn't completely out of the woods yet, with those tariffs set to increase from 10% to 25% at the end of this year.

The surge in October could reflect people looking to beat the December tariff increase, and was helped by the fall in the value of the yuan against the dollar this year.

4. Global stock market overview: Asian markets were mixed on Thursday, while major markets in Europe opened about 0.3% higher before losing a little ground.

US futures were dipping after an impressive run Wednesday following the midterm elections. The Dow and S&P 500 both went up about 2% on Wednesday and the Nasdaq surged 2.6%, as investors cheered a result that saw Democrats take control of the House while Republicans retained the Senate.

A divided government will likely ensure that US economic policies remain unchanged.

5. Companies: Japanese conglomerate Toshiba (TOSBF) saw its stock jump nearly 13% in Tokyo Thursday after announcing a major restructuring plan that will see it sell major assets and cut 7,000 jobs over the next five years. Toshiba also plans to buy back up to 40% of its own shares.

AMC Entertainment (AMC), Disney (DIS) and Yelp (YELP) will report earnings after the close on Thursday.

6. Coming this week:

Thursday — AMC Entertainment (AMC), Activision Blizzard (ATVI), Crocs (CROX), Gannett (GCI), Walt Disney (DIS), Party City (PRTY), Discovery (DISCA), Dropbox (DBX), Hertz Global Holdings (HTZ), Yelp (YELP), FOMC meeting

Friday — E.W. Scripps Co. (SSP), McClatchy (MNI) earnings; consumer sentiment

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 26980

Reported Deaths: 1159
CountyConfirmedDeaths
Hennepin9099657
Ramsey3351149
Stearns205614
Nobles15775
Anoka152779
Dakota144664
Washington70035
Olmsted68911
Rice5243
Kandiyohi5141
Scott4712
Clay44930
Mower4462
Wright3492
Todd3441
Sherburne2492
Carver2402
Benton1853
Steele1700
Freeborn1590
Blue Earth1490
Martin1355
St. Louis11914
Lyon1012
Unassigned9611
Pine930
Nicollet8811
Cottonwood820
Winona8115
Crow Wing815
Watonwan790
Carlton750
Goodhue736
Otter Tail731
Chisago691
Polk632
Itasca5610
Dodge540
Chippewa521
Morrison480
Le Sueur471
Douglas460
Meeker460
Becker440
Jackson420
Murray410
McLeod410
Isanti360
Pennington300
Waseca290
Mille Lacs241
Rock230
Faribault220
Wabasha200
Swift191
Beltrami180
Sibley170
Brown172
Fillmore171
Norman150
Pipestone130
Kanabec121
Aitkin120
Marshall120
Cass112
Big Stone110
Wilkin113
Wadena100
Pope100
Koochiching90
Redwood70
Yellow Medicine70
Renville70
Mahnomen61
Lincoln60
Red Lake40
Traverse40
Grant40
Clearwater30
Houston30
Hubbard30
Lac qui Parle30
Roseau30
Stevens10
Lake10
Kittson10

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 21114

Reported Deaths: 593
CountyConfirmedDeaths
Polk4614140
Woodbury286137
Black Hawk178849
Buena Vista10672
Linn97879
Dallas95226
Marshall91418
Wapello63615
Johnson6198
Muscatine56741
Crawford5512
Tama41129
Scott38510
Dubuque35921
Louisa35011
Pottawattamie31910
Sioux3060
Jasper26917
Wright2210
Washington1968
Warren1671
Plymouth1522
Story1311
Allamakee1204
Mahaska9913
Poweshiek928
Hamilton760
Webster741
Henry732
Boone720
Bremer716
Clarke690
Des Moines681
Taylor660
Clinton651
Guthrie553
Cedar501
Benton431
Cherokee410
Monroe415
Jones370
Shelby370
Osceola360
Jefferson360
Marion350
Dickinson350
Buchanan341
Iowa340
Clayton343
Cerro Gordo331
Madison292
Lee290
Sac280
Davis280
Emmet270
Fayette270
Clay270
Monona260
Harrison260
Hardin240
Lyon240
Winneshiek240
Lucas222
Mills200
Grundy200
Franklin200
Humboldt201
Pocahontas200
Delaware191
Floyd191
Hancock180
Appanoose173
Butler161
Kossuth160
Carroll151
Ida150
Greene150
Keokuk140
Jackson140
Page140
Audubon131
Cass130
Chickasaw130
Howard120
Winnebago110
Calhoun100
Union100
Van Buren90
Adair90
Montgomery92
Adams70
Palo Alto70
Ringgold40
Fremont40
Mitchell40
Worth30
Unassigned20
Wayne10
Decatur10
Rochester
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