- Chinese Trade, Industrial and Sales Trends Fall. Chinese imports fell 7.6% year-over-year and exports dropped 4.4%. Global equity markets responded negatively Monday with all major regions down for the day, with the steepest declines coming out of emerging markets.
- Rejected Brexit Deal Leaves Uncertain Future for the UK. Prime Minister Theresa May’s Brexit deal caused the biggest U.K. government defeat in the modern times of Parliament, losing by 230 votes.
- Profit Growth Passes 16% in the First Batch of Earnings Reports. So far, 56 S&P 500 companies have reported earnings with aggregate earnings growth of 16.6% and revenue growth of 7%.
- Johnson & Johnson, Intel and Comcast to Report Earnings. The second week of earnings reports highlights companies across all sectors. Johnson & Johnson (JNJ) out of the health care sector reports on Tuesday.
- Purchasing Data Likely to Continue Indicating Growth. The flash Purchasing Managers’ Index (PMI) readings indicated slowing but positive economic growth toward the end of 2018.
- Accommodative Monetary Policy Should Continue into 2019. The Bank of Japan and European Central Bank meet on Wednesday and Thursday. Central bank leaders are likely to signal patience similar to the Federal Reserve as low inflation and slowing economic growth pose challenges to policy tightening decisions.
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