Wonder what traders are talking about today?
We’re here with the top 10 stories we’re sharing with colleagues today, covering topics like:
- President Trump's choice to replace Janet Yellen as Fed Chair
- The Fed's rate decision, and what to look for in December
- How Sami Abusaad scored over $12K in a single trade
And more!
So check out these links right now and get up to speed:
1) Trump to Tap Fed’s Jerome Powell for Fed Chairman (Wall Street Journal)
The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.
2) Fed holds off on rate hike, opens door to December (CNBC)
The Federal Reserve declined to raise interest rates at its policy meeting this week and said the late-summer hurricanes likely will not have much longer-term impact on overall economic activity.
There was little in the post-meeting statement Wednesday to indicate that the Fed would hold off on raising rates again soon.
3) Sami Abusaad: $12K+ in 1 Profit in 1 Day with Nautilus (T3 Live)
In this special video, Nightly Game Plan Moderator Sami Abusaad takes you through an Earnings Play in fitness equipment company Nautilus (NLS).
On Monday, October 30, Sami went short Nautilus at $16.35, just ahead of earnings. Sami got out Tuesday morning at $13.00 for a $3.35 per share profit.
4) Facebook Tops Sales Projections While Russia Ad Inquiry Unfolds (Bloomberg)
Facebook Inc. reported another quarter of record sales, underscoring how far removed the social network’s business prospects are from the raging public debate about Russian political ads on its platform.
5) What's the Economic Cost of Brexit? (Pineapples Tell a Tale)
Britain is increasingly grappling with the bewildering economic consequences of its pending departure from the European Union. For one company, Nim’s Fruit Crisps, the impact is measured in the soaring cost of pineapple.
6) Catalonia: Puigdemont ‘will not return' to Spain for questioning (BBC)
Sacked Catalan leader Carles Puigdemont will not return to Spain to answer charges including rebellion, his Belgian lawyer has said.
Speaking to the Associated Press, Paul Bekaert suggested Mr Puigdemont should instead be questioned in Belgium where he has been since Monday.
7) Options in Play: An Event-Driven CELG Trade (T3 Live)
Earnings season is packed with opportunity if you know where to look. CELG came into the quarter reeling from a 1-2 punch of a downgrade and drug trial setback. There was reason to believe the stock still had room to move (either way), however, so we thought it set up well for a strangle into numbers.
8) Luxury auto brands are scrambling to avoid a blue Christmas (NPR)
When financial markets surge to new records, sales of luxury cars usually rise, too. Instead, October U.S. auto sales reports on Wednesday showed that a collapse in sales of luxury sedans is accelerating.
9) The Dangerous Reason Why Bitcoin Just Hit Yet Another New High (Fortune)
Bitcoin just keeps on rising in value. Just more than a week after breaking $6,000 for the first time, the Bitcoin price reached another new high of $6,300 a few days ago, and is now on track to set a new all-time record for the fourth day in a row.
10) Hilde Lysiak, Reporter, Author, 10-Year Old (NY Times)
The first book in the “Hilde Cracks the Case” series opens with 9-year-old Hilde Lysiak outside her local police station in the town of Selinsgrove, Pa., following up on a tip about a break-in on Orange Street. The on-duty officer refuses to divulge any information, but if she’s going to break the story in her newspaper, The Orange Street News, she has to investigate using six basic reporting questions: Who? What? Where? When? Why? How?