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 Good morning. Here's what you need to know. - Markets in Asia were mixed in overnight trading. The Japanese Nikkei 225 rose 2.2%, the Hong Kong Hang Seng fell 0.7%, and the Shanghai Composite rose 0.8%. European markets are in the red across the board, led lower by the Spanish IBEX 35, down 1.0%. In the United States, futures point to a negative open.
- The Chinese leadership wrapped up the Third Plenum today. Policymakers set up a new "state security committee" — a national security agency — and a "deep reform leadership group" to lead the charge on economic overhauls.
- Chinese passenger vehicle sales were up 24% from a year earlier in October, logging the highest sales volume in nine months. "Car makers are accelerating the launches of new products to meet strong demand," Automotive Foresight analyst Yale Zhang told the Wall Street Journal.
- Japan's consumer confidence index unexpectedly fell to 41.2 in October from September's 45.4 reading. Economists predicted a tick up to 45.5. The 4.2-point drop was the largest since the 2011 earthquake.
- U.K. consumer prices were up only 2.2% from a year earlier in October. Economists predicted September's 2.7% rate of inflation would slow, but only to 2.5%. Excluding food and energy, prices were up only 1.7%, below September's 2.2% rate and expectations for a drop to 2.0%.
- D.R. Horton announces earnings this morning before the opening bell. Analysts predict the homebuilder made $0.40 per share in Q3 (up from $0.30 a year ago) on revenues of $1.78 billion (up from $1.3 billion a year ago). Market participants and economy-watchers will listening for commentary on how the housing market held up in the face of rising interest rates this summer.
- Indicators published by the Organization for Economic Cooperation and Development suggest growth will pick up in the eurozone, China, and the U.K. while remaining sluggish in Brazil, India, and China.
- The Chicago Fed's monthly National Activity Index for September is released at 8:30 AM ET. In August, the index stood at 0.14.
- At 1 PM ET, Minneapolis Fed president Narayana Kocherlakota speaks on monetary policy in St. Paul, Minnesota. Then, at 1:50, Atlanta Fed president Dennis Lockhart speaks on the economy in Montgomery, Alabama. Finally, at 7 PM, Dallas Fed president Richard Fisher speaks on monetary policy in Australia.
- The annual New York Times DealBook conference is today. Notable speakers include Bridgewater Associates founder Ray Dalio and Tesla CEO Elon Musk. A live stream of the event can be found here »
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