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23Oct2017 Pre-Market Commentary: Wall Street Aims For All-time Highs, Earnings Season Kicks Into High Gear, US Crude And Dollar Climb Higher, Japanese Prime Minister Shinzo Abe's Wins Election

Written by Gary

US stock market future indexes flat, but inch higher after Abe election victory (SPY +0.1%). The biggest week of earnings season is upon us and one that is sure to move markets.

Here is the current market situation from CNN Money

European markets are higher today with shares in France leading the region. The CAC 40 is up 0.34% while Germany's DAX is up 0.15% and London's FTSE 100 is up 0.05%.

What Is Moving the Markets

Here are the headlines moving the markets.

Victory for Abenomics lifts world stocks, dollar

LONDON (Reuters) - Japanese Prime Minister Shinzo Abe's election victory lifted world stocks and the dollar on Monday, relegating concerns about Spain's escalating political crisis to little more than a blip on the market radar.

Halliburton profit tops estimates on strong North America demand

(Reuters) - Oilfield services provider Halliburton Co on Monday reported a third-quarter profit that topped analysts' estimates, driven by better pricing and increased activity in North America, its biggest market.

Cisco to buy BroadSoft in $1.9 billion deal

(Reuters) - Cisco Systems Inc , the world's largest networking gear manufacturer, said it will buy U.S. telecommunications software company BroadSoft Inc in a deal valued at about $1.9 billion, including debt.

Kaspersky Lab to open software to review, says nothing to hide

(Reuters) - Moscow-based Kaspersky Lab will ask independent parties to review the security of its anti-virus software, which the U.S. government has said could jeopardize national security, citing concerns over Kremlin influence and hijacking by Russian spies.

AT&T extends deadline to close Time Warner deal

(Reuters) - AT&T Inc said on Monday it had extended by a "short period" the deadline to close its proposed deal to acquire Time Warner Inc , to buy time to get the required regulatory approvals for the deal.

T-Mobile quarterly profit tops estimates as subscribers grow

NEW YORK (Reuters) - T-Mobile US Inc's quarterly profit topped Wall Street analyst estimates as the No. 3 U.S. wireless carrier raised the lower end of its expected range of customer additions for the year.

Futures higher after Abe election victory

(Reuters) - U.S. stock index futures pointed to a higher open for Wall Street on Monday, tracking gains for other major stock markets after Japanese Prime Minister Shinzo Abe's election victory.

BlackRock opposes banning companies from indexes over voting rights

NEW YORK (Reuters) - BlackRock Inc , the world's largest asset manager, is lambasting the architects of market indexes like the S&P 500 for ostracizing companies that deny equal voting rights to shareholders, saying that doing so could limit the opportunities of investors in index funds.

France probing possible Fiat obstruction over 'Dieselgate' affair: document

PARIS (Reuters) - Carmaker Fiat Chrysler is subject of a French judicial inquiry over suspected obstruction of a French inquiry into the 'Dieselgate' affair, concerning devices used to cheat on tests over emissions, according to a document obtained by Reuters.

Catalan Separatists Plan Human Shield, "Civil Disobedience" To Block Spanish Takeover

If Spain hoped that Catalonia would willingly and cheerfully hand over control over the separatist region to Madrid after Rajoy announced on Saturday that the Spanish government will fire Catalan leaders and force new elections in 6 months, he may be disappointed. According to Bloomberg, Catalan separatists are "mobilizing a human shield" to block efforts by Spanish authorities to take control of the breakaway region as both sides prepare to escalate the political conflict beyond what may soon be a point of no return.

The dramatic Catalan action is in response to Rajoy's shocing announcement on Saturday, when he disclosed plans to clear out the entire separatist administration in Barcelona and take control of key institutions including public media and the regional police force, the Mossos d'Esquadra. Spain's chief prosecutor said that if Puigdemont declares independence he would face as much as 30 years in jail and signaled that he could be arrested immediately.

"We are calling for a peaceful and democratic defense of the institutions," Lluis Corominas, the leader of the main separatist group in the Catalan Parliament, said at a press conference in Barcelona.

According to two sources quoted by Bloomberg, groups of Catalan separatists will concentrate their activists around the regional government's headquarters in Barcelona's Gothic quarter and the nearby parliament building. "They expect Spanish police to use force to try to shut down the administration and will put their bodies on the line" the sources added.

Following weeks of escalating tensions between Madrid and Barcelona, this is shaping up as a critical week for political brinkmanship:

the Catalan leadership was left to plot its next mo ...

Lessons On Anniversary Of 1987 Crash Including Gold's 24% Gain In 1987

Lessons On Anniversary Of 1987 Crash Including Gold's 24% Gain In 1987

- Next Wall Street Crash looms? Lessons on anniversary of crash
- 30 years since stock market 'Black Monday' crash of 1987
- Dow Jones Industrial Average fell 22.6% on October 19, 1987
- S&P 500, FTSE and DAX fell 20%, 11% & 9% respectively
- Gold rose 24.5% in 1987 (see chart), acting as safe haven
- Prior to crash, stocks hit successive record highs despite imbalances
- Imbalances that lead to 1987 crash are much worse today

"No Leadership In NFL" - Trump Slams Continued Kneeling "Disrepect"

Just days after The NFL decided not to enforce a platform-wide rule with regard behavior during the national anthem, AP journalists counted 22 players protesting during the anthems in some way before day games. Some took a knee, others sat on the bench, stayed in the tunnel or raised a fist. Admittedly this is considerably fewer than the 200 players that protested during the week following President Trump's comments that disrepsectful players should be fired, but it was enough to stir the president back on to Twitter...

Two dozen NFL players continue to kneel during the National Anthem, showing total disrespect to our Flag & Country. No leadership in NFL!

— Donald J. Trump (@realDonaldTrump) October 23, 2017

As Bloomberg reports, on Sunday, the Seahawks and 49ers had the most protesters.

Seattle defensive end Michael Bennett and seven Seahawks teammates did not stand during the anthem before their game with the New York Giants.

As a New York City police officer sang the anthem, Bennett was joined by defensive tackle Sheldon Richardson, defensive end Brandon Jackson, defensive end Marcus Smith, defensive tackle Jarran Reed, defensive end Frank Clark and defensive end Quinton Jefferson. Defensive end Cliff Avril, scratched for the game, sat between Clark and Bennett.

Another teammate stood with his left arm on Bennett's back. One Seattle player kneeled.

In San Francisco, about a half-dozen 49ers kneeled led by Eric Reid, Marquise Goodwin, rookie linebacker Reuben Foster, Eli ...

Frontrunning: October 23

Trump Backs GOP Incumbents, Hinting at Bannon Conflict (WSJ)

Japan's Abe to push pacifist constitution reform after strong election win (Reuters)

Yellen Says Fed May Need to Use Unconventional Policy Again Some Day (WSJ)

Big money shies from booming bitcoin (Reuters)

This Big Tax Cut for 'High Fliers' Shows Why an Overhaul Is So Hard (BBG)

Ill-Timed Uber Investment Roils a Giant Saudi Fund (WSJ)

Industry continues driving German growth: Bundesbank (Reuters)

China's Pursuit of Fugitive Businessman Guo Wengui Kicks Off Caper Worthy of Spy Thriller (WSJ)

Trump's tougher stance could backfire by boosting Iran's Guards (Reuters)

Venezuela's Behind on Its Debt and Facing Tw ...

Feeding Babies in China Is a Booming Business Again

The world's largest infant-formula market is surprisingly volatile. Investors shouldn't expect the good news for Western consumer groups to last.

Chinese Banks in Need of a Stiff Quality Check

When Chinese banks start reporting their third quarter earnings this week, investors should pay particular attention to their asset quality.

What Will the Next Fed Chief Do About Stocks?

With the Federal Reserve likely to be under new leadership next year, investors are asking how the central bank will approach the economy. They should also be asking how the Fed will deal with asset prices.

Market Extra: How optimistic math conceals depth of America's public pension crisis

Optimistic return estimates have helped disguise the extent of underfunding in state pension funds, leaving public employees with a smaller safety net than they might have expected

Market Snapshot: U.S. stocks aim for all-time highs, with earnings ready to provide a spur

U.S. stock futures inch higher on Monday, setting Wall Street on track for a round of fresh records as traders continue to cheer the prospects of tax reform and a better-than-expected earnings season.

The Ratings Game: Celgene dives 11% after ditching key drug

The once high-profile drug was expected to bring in as much as $2.4 billion in peak revenue.

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