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Stocks - Wall Street Rises as Trade Tensions Ease

Investing.com – Wall Street rose on Tuesday, as trade tensions between the U.S. and China eased.

The S&P 500 rose 14 points, or 0.54%, to 2,740.89 as of 9:37 AM ET (14:37 GMT), while the Dow increased 60 points, or 0.24%, to 25,447.43 and the tech-heavy Nasdaq Composite was up 64 points, or 0.90% to 7,265.51.

Trade war tensions eased on news that China’s trade negotiator could head to Washington ahead of a meeting of the two countries' leaders later this month.

The South China Morning Post reported that Liu He could visit Washington as part of the preparations for the talks between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Argentina.

The U.S. has imposed tariffs of more than $250 billion Chinese imports, which China has retaliated against, as the two have failed to come up with a trade agreement.

General Electric (NYSE:GE) was among the gainers, rising 0.38% after it announced a series of agreements with Baker Hughes, including selling half of its stake in the oil services provider. Intel (NASDAQ:INTC) rose 0.63%, while Walt Disney (NYSE:DIS) gained 0.47% and Viking Therapeutics (NASDAQ:VKTX) surged 10.06%.

Elsewhere, Home Depot (NYSE:HD) fell 1.11% despite the retailer posting better-than-expected earnings. The report kicks off a week of retail earnings, with results from Walmart (NYSE:WMT) and Macy’s (NYSE:M) expected later in the week.

Meanwhile social media app Snap (NYSE:SNAP) fell 0.75% after its vice president of content Nick Bell announced he is leaving the company.

In commodities, gold futures rose 0.06% to $1,202.00 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.24% to 97.15. Crude oil slumped 1.94% to $58.77 a barrel.

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Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.31%

Investing.com – Saudi Arabia stocks were lower after the close on Tuesday, as losses in the Retail, Financial Services and Real Estate Development sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share declined 0.31%.

The best performers of the session on the Tadawul All Share were Al Baha Investment and Development Company SJSC (SE:4130), which rose 10.00% or 1.80 points to trade at 19.80 at the close. Meanwhile, Saudia Dairy and Foodstuff .Co (SE:2270) added 9.99% or 8.90 points to end at 98.00 and Al Sorayai Trading&Industrial Group (SE:1213) was up 9.96% or 1.08 points to 11.92 in late trade.

The worst performers of the session were Najran Cement Company (SE:3002), which fell 3.49% or 0.31 points to trade at 8.56 at the close. Eastern Province Cement Co. (SE:3080) declined 3.31% or 0.70 points to end at 20.42 and Taiba Holding Co. (SE:4090) was down 2.83% or 0.85 points to 29.15.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 92 to 85 and 10 ended unchanged.

Crude oil for December delivery was down 1.60% or 0.96 to $58.97 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 1.35% or 0.95 to hit $69.17 a barrel, while the December Gold Futures contract rose 0.01% or 0.10 to trade at $1201.40 a troy ounce.

EUR/SAR was up 0.39% to 4.2245, while USD/SAR fell 0.01% to 3.7511.

The US Dollar Index Futures was down 0.20% at 97.19.

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Stocks - U.S. Futures Point to Rebound on Earnings, Easing Trade Concerns

Investing.com - U.S. futures were higher on Tuesday as concerns over trade tensions between the U.S. and China eased and strong quarterly earnings for Home Depot boosted the Dow.

The S&P 500 futures rose 16 points or 0.59% as of 6:48 AM ET (11:38 GMT) while Dow futures were up 127 points, or 0.50%. Meanwhile tech heavy Nasdaq 100 futures increased 57 points, or 0.83%.

Concerns over trade tensions eased on news that China’s trade negotiator could head to Washington ahead of a meeting of the two countries leaders later this month.

The South China Morning Post reported that Liu He could visit Washington as part of the preparations for the talks between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Argentina.

The U.S. has imposed tariffs of more than $250 billion Chinese imports, which China has retaliated against, as the two have failed to come up with a trade agreement.

Home Depot (NYSE:HD) was among the top gainers in premarket trading, rising 2.27% after the retailers earnings beat forecasts.

Apple (NASDAQ:AAPL) edged up 0.22% after tumbling 5% on Monday amid worries over signs of weak iPhone demand.

Snap Inc (NYSE:SNAP) gained 5.11% after news that its vice president of content is leaving the company.

General Electric (NYSE:GE) increased 0.75% while Microsoft (NASDAQ:MSFT) was up 0.43% and Tesla (NASDAQ:TSLA) rose 0.90%.

Elsewhere Perrigo Co (NYSE:PRGO) fell 0.98%, while Procter & Gamble Company (NYSE:PG) dipped 0.20% and Halliburton (NYSE:HAL) down 0.47%.

On the central banking front, Minneapolis Fed President Neel Kashkari speaks at 10:00 AM ET (15:00 GMT), while Fed Governor Lael Brainard is speaking at the Philadelphia Fed’s fintech conference, along with Philly Fed President Patrick Harker. San Francisco Fed President Mary Daly is due to speak later in the day.

In commodities, gold futures fell 0.24% to $1,198.40 a troy ounce while crude oil futures were down 2.10% to $58.67 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was holding near 17-month highs at 97.30.

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Home Depot Shares Higher on Earnings Beat

Investing.com - Home Depot, the world's largest home improvement retailer reported third quarter earnings that beat analysts' expectations on Tuesday and raised its sales outlook for the full year.

Shares of the company (NYSE:HD) were higher in premarket trade following the report.

The firm reported earnings per share of $2.51 on revenue of $26.3 billion compared with net earnings of $2.2 billion, or $1.84 per diluted share, in the same period a year earlier. Diluted earnings per share increased 36.4% from the same period in the prior year, the company said.

Analysts polled by Investing.com forecast EPS of $2.27 on revenue of $26.25 billion.

Based on its year-to-date performance, Home Depot updated its fiscal 2018 guidance, saying it now expects sales growth of approximately 7.2%.

For the year, Home Depot shares are down 5.33%, under-performing the S&P 500 which is up 1.58% year to date.

Home Depot follows other major Services sector earnings this month

On October 25, Amazon.com reported third quarter EPS of $5.75 on revenue of $56.58B, compared to forecasts of EPS of $3.08 on revenue of $57.11B.

Alibaba earnings missed analyst's expectations on November 2, with second quarter EPS of $1.4 on revenue of $85.15B. Investing.com analysts expected EPS of $6.85 on revenue of $52,109M

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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Indonesia stocks higher at close of trade; IDX Composite Index up 1.01%

Investing.com – Indonesia stocks were higher after the close on Tuesday, as gains in the Financials, Miscellaneous Industry and Trade sectors led shares higher.

At the close in Jakarta, the IDX Composite Index added 1.01%.

The best performers of the session on the IDX Composite Index were Shield On Service Tbk PT (JK:SOSS), which rose 25.00% or 250 points to trade at 1250 at the close. Meanwhile, Transcoal Pacific Tbk PT (JK:TCPI) added 18.21% or 1375 points to end at 8925 and Intan Baruprana Finance Tbk (JK:IBFN) was up 18.11% or 46 points to 300 in late trade.

The worst performers of the session were Buana Finance Tbk (JK:BBLD), which fell 19.60% or 98 points to trade at 402 at the close. Bayu Buana Tbk (JK:BAYU) declined 11.76% or 260 points to end at 1950 and Equity Development Investment (JK:GSMF) was down 10.62% or 12 points to 101.

Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 192 to 170 and 141 ended unchanged.

Shares in Shield On Service Tbk PT (JK:SOSS) rose to all time highs; rising 25.00% or 250 to 1250. Shares in Buana Finance Tbk (JK:BBLD) fell to 5-year lows; falling 19.60% or 98 to 402. Shares in Transcoal Pacific Tbk PT (JK:TCPI) rose to all time highs; rising 18.21% or 1375 to 8925.

Crude oil for December delivery was down 2.35% or 1.41 to $58.52 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 2.22% or 1.56 to hit $68.56 a barrel, while the December Gold Futures contract fell 0.24% or 2.90 to trade at $1198.40 a troy ounce.

USD/IDR was down 0.02% to 14846.0, while AUD/IDR rose 0.16% to 10685.90.

The US Dollar Index Futures was up 0.07% at 97.45.

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German ZEW Economic Sentiment Index Improves Slighly in November

Investing.com - The mood among German investors improved slighly in November, a survey showed on Tuesday.

The Mannheim-based ZEW research institute said its monthly survey showed its economic sentiment index rose to negative 24.1 from negative 24.7 in November. That was compared to the consensus forecast for a reading of negative 24.2.

A separate gauge measuring investors’ assessment of the economy’s current conditions fell to 58.2 from 70.1 last month. That compared with the consensus forecast for a decrease to 65.0.

Meanwhile the ZEW economic sentiment for the euro zone slumped to negative 22.0 from negative 19.4 last month.

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Dollar Holding Near 2018 Highs, Pound Rebounds

Investing.com - The dollar was trading near the highest levels of the year on Tuesday, amid expectations for higher U.S. interest rates, while the pound rebounded from one-and-a-half week lows despite ongoing Brexit uncertainty.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was at 97.41 by 04:05 AM ET (09:05 AM GMT), within striking distance of Monday’s 16-month highs of 97.53.

Demand for the dollar was underpinned after the Fed indicated last week that rates are likely to rise in December and again in early 2019, with the U.S. economy looking strong on almost every front.

The dollar was trading close to five-week highs against the yen, with USD/JPY up 0.23% to 114.10.

Market sentiment was boosted by hopes that trade tensions between the U.S. and China would ease following reports that China's top trade negotiator was preparing to visit the U.S. ahead of a meeting between the two countries' leaders later this month.

The pound regained ground, with GBP/USD rising 0.33% to 1.2891, but gains were held in check amid fears that Britain could crash out of the European Union without a Brexit deal.

The pound hit a low of 1.2826 against the dollar on Monday, the weakest level since Nov. 1.

The euro edged higher, with EUR/USD inching up 0.1% to 1.1230. The single currency struggled to make headway with investors focused on the ongoing row between Brussels and Rome over Italy’s budget.

The European Commission rejected Italy's 2019 budget last month, because it was in breach of European fiscal rules and Italy’s government has until later Tuesday to submit a revised budget plan.

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Japan stocks lower at close of trade; Nikkei 225 down 2.06%

Investing.com – Japan stocks were lower after the close on Tuesday, as losses in the Shipbuilding, Construction and Mining sectors led shares lower.

At the close in Tokyo, the Nikkei 225 declined 2.06%.

The best performers of the session on the Nikkei 225 were Toshiba Corp. (T:6502), which rose 4.13% or 150.0 points to trade at 3785.0 at the close. Meanwhile, Softbank Corp. (T:9984) added 1.87% or 164.0 points to end at 8941.0 and Toyobo Co., Ltd. (T:3101) was up 1.24% or 20.0 points to 1631.0 in late trade.

The worst performers of the session were Taiyo Yuden Co., Ltd. (T:6976), which fell 7.27% or 169.0 points to trade at 2156.0 at the close. Mitsui Mining and Smelting Co. (T:5706) declined 6.61% or 171.0 points to end at 2416.0 and JGC Corp. (T:1963) was down 6.32% or 119.0 points to 1765.0.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2949 to 606 and 135 ended unchanged.

Shares in Toshiba Corp. (T:6502) rose to 52-week highs; gaining 4.13% or 150.0 to 3785.0. Shares in Mitsui Mining and Smelting Co. (T:5706) fell to 52-week lows; losing 6.61% or 171.0 to 2416.0. Shares in JGC Corp. (T:1963) fell to 52-week lows; losing 6.32% or 119.0 to 1765.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 5.22% to 19.60 a new 1-month low.

Crude oil for December delivery was down 1.22% or 0.73 to $59.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 0.93% or 0.65 to hit $69.47 a barrel, while the December Gold Futures contract fell 0.06% or 0.70 to trade at $1202.80 a troy ounce.

USD/JPY was up 0.22% to 114.09, while EUR/JPY rose 0.45% to 128.28.

The US Dollar Index Futures was down 0.03% at 97.35.

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China stocks higher at close of trade; Shanghai Composite up 0.93%

Investing.com – China stocks were higher after the close on Tuesday, as gains in the Media, Gas, Water&Multiutilities and Travel&Leisure sectors led shares higher.

At the close in Shanghai, the Shanghai Composite rose 0.93%, while the SZSE Component index added 1.68%.

The best performers of the session on the Shanghai Composite were Zhongmin Energy Co Ltd (SS:600163), which rose 10.13% or 0.310 points to trade at 3.370 at the close. Meanwhile, Guangdong Meiyan Jixiang Hydropower Co Ltd (SS:600868) added 10.11% or 0.280 points to end at 3.050 and Yaxing Chem (SS:600319) was up 10.10% or 0.500 points to 5.450 in late trade.

The worst performers of the session were Qijing Machinery Co Ltd (SS:603677), which fell 3.29% or 0.53 points to trade at 15.58 at the close. Fujian Fynex Textile Science&Technology Co Ltd (SS:600493) declined 2.51% or 0.170 points to end at 6.610 and Zhonglu Co Ltd A (SS:600818) was down 2.44% or 0.270 points to 10.780.

The top performers on the SZSE Component were Nanjing Huadong Electronics Information&Technology Co Ltd (SZ:000727) which rose 10.32% to 1.71, Yotrio Group Co Ltd (SZ:002489) which was up 10.10% to settle at 3.27 and Maanshan Fangyuan Slewing Ring Co Ltd (SZ:002147) which gained 10.08% to close at 6.99.

The worst performers were Jingwei Textile Machinery Co Ltd (SZ:000666) which was down 10.02% to 14.64 in late trade, Shenzhen Shenxin Taifeng Group Co Ltd (SZ:000034) which lost 5.78% to settle at 15.32 and Yantai Jereh Oilfield Services Group Co Ltd (SZ:002353) which was down 2.83% to 20.94 at the close.

Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 1279 to 167 and 27 ended unchanged.

Shares in Jingwei Textile Machinery Co Ltd (SZ:000666) fell to 3-years lows; falling 10.02% or 1.63 to 14.64.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 30.52.

Gold Futures for December delivery was up 0.16% or 1.90 to $1203.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 1.23% or 0.74 to hit $59.19 a barrel, while the January Brent oil contract fell 0.88% or 0.62 to trade at $69.50 a barrel.

USD/CNY was down 0.13% to 6.9548, while EUR/CNY rose 0.07% to 7.8174.

The US Dollar Index Futures was up 0.03% at 97.41.

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Oil Prices Down More Than 1% as Trump Asks OPEC Not to Cut Supply

Investing.com - Oil prices were down 1% on Tuesday on reports that U.S. President Donald Trump asked the Organization of the Petroleum Exporting Countries (OPEC) not to cut supply to drive up crude oil prices.

Crude Oil WTI Futures declined 1.5% to $59.05 a barrel by 12:19 AM ET (05:19 GMT).

Meanwhile, Brent crude, the benchmark for oil prices outside the U.S., was down 1.10%, to $69.37.

"Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!" Trump said in a Twitter post on Monday.

His comments came after Saudi energy minister Khalid al-Falih announced plans on Sunday to cut oil output from December and suggested that other members of OPEC and their non-OPEC allies led by Russia could follow suit.

The kingdom would cut oil supply by 0.5 million barrels per day (bpd) in December due to lower seasonal demand. The cut represents a reduction in global oil supply of about 0.5%, according to reports.

Al-Falih also suggested that there might be a need for OPEC and non-OPEC members to trim supply back by 1 million bpd from October levels.

Oil prices hit nearly four-year highs in October as the market braced for potential shortages ahead of the restoration of sanctions against Iran, the third-largest producer OPEC on Nov. 4.

The sanctions, however, are unlikely to cut as much oil out of the market as initially expected as Washington has granted exemptions to Iran's biggest buyers, which will allow them to continue buying limited amounts of crude for at least another six months.

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Cryptocurrencies Drop Despite Swiss Digital Currency Certification in Middle East

Investing.com - Cryptocurrencies fell on Tuesday morning in Asia despite new confidence in blockchain crypto currencies, including the cash and gold-backed digital currency X8, which received Sharia certification by the Shariyah Review Bureau for Islamic investors.

Bitcoin edged down 0.92% to $6405.7 at 11:16PM ET (03:16 GMT) on the Bitifinex exchange.

Ethereum slid 1.3% to $211.08 on the Bitifinex exchange.

XRP was the only gainer among major cryptocurrencies, seeing a rise of 1.57% to $0.51795 on the Poloniex exchange.

Litecoin lost 2.81% to $50.323 on the Bitifinex exchange.

Swiss firm X8 AG was granted certification from Islamic scholars for its cash and gold-backed digital currency, a step forward for its plan to expand its business in the Middle East, according to its statement on Monday.

X8 currency is Ethereum-based and backed by eight fiat currencies and gold, aiming to “counter the inflationary headwinds experienced across the global markets.”

“With the changing environment of banking and asset management primarily due to fintech-driven shifts, the market for wealth preservation in Islamic finance is poised to see disruption and it is for this reason that we are seeing an increasing demand for our product in the Islamic markets,” said Francesca Greco, X8’s director, in a statement.

Various reports showed that at least five other exchanges are involved with the Bahrain market, with the first central bank-backed crypto exchange to launch in the Middle East as early as next year.

Elsewhere, Singapore’s monetary authority and Singapore Exchange also developed a settlement system for tokenized assets that can function across different blockchain platforms. The system aims to simplify post-trade processes and shorten settlement cycles, the Ministry of Communications and Information announced on Sunday.

Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore, gave his vote of confidence in blockchain technology: “Blockchain technology and asset tokenization are fueling a new wave of innovation globally…the concept of asset tokenization, as well as other learnings gleaned from this project, can potentially be applied to a broad spectrum of the economy.”

Bitcoin exchange Binance’s Chief Executive Changpeng Zhao expects another “bull run” in bitcoin “sooner or later,” he told CNBC.

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Asian Stocks Slide Following Tech-led Slump on Wall Street

Investing.com - Asian stocks slid in morning trade on Tuesday following a tech-led slump on Wall Street as Apple (NASDAQ:AAPL) tanked by 5%.

Lumentum Holdings Inc (NASDAQ:LITE), one of iPhone’s face-recognition suppliers, cut its outlook for fiscal second quarter 2019 as one of its largest customers asked the company to “materially reduce shipments” for its products.

“We recently received a request from one of our largest Industrial and Consumer customers for laser diodes for 3D sensing to materially reduce shipments to them during our fiscal second quarter for previously placed orders that were originally scheduled for delivery during the quarter,” said Lumentum President and CEO Alan Lowe in a statement.

The report built speculation around the success of Apple's latest iPhones. Although Lumentum did not mention Apple by name in the statement, the company listed the technology giant as its largest customer in the annual filing for the fiscal year 2018.

Overnight, the Dow fell by more than 600 points, while the NASDAQ Composite slumped 2.8%.

In Asia, China’s Shanghai Composite inched up 0.1%, while the Shenzhen Component was down 0.7%.

Hong Kong’s Hang Seng Index was down 0.2%.

Citing sources, the Wall Street Journal reported on Monday that U.S. Treasury Secretary Steven Mnuchin had resumed talks with China Vice Premier Liu He.

He and Mnuchin spoke by telephone last week, the WSJ said, adding that the discussion did not lead to any breakthrough regarding the trade dispute between the U.S. and China.

Japan’s Nikkei 225 declined 2.3%, while South Korea’s KOSPI traded 0.9% lower as index heavyweight Samsung Electronics (KS:005930) and SK Hynix Inc (KS:000660) dropped 2.9% and 5.5% respectively.

Down under, Australia’s ASX 200 fell 1.7%.

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Mexico stocks lower at close of trade; S&P/BMV IPC down 2.18%

Investing.com – Mexico stocks were lower after the close on Monday, as losses in the Financial Services, Telecoms Services and Consumer Goods&Services sectors led shares lower.

At the close in Mexico, the S&P/BMV IPC lost 2.18% to hit a new 52-week low.

The best performers of the session on the S&P/BMV IPC were Grupo Aeroportuario Del CentroNorte (MX:OMAB), which rose 2.50% or 2.490 points to trade at 102.090 at the close. Meanwhile, Gentera SAB de CV (MX:GENTERA) added 1.96% or 0.330 points to end at 17.180 and Arca Continental , S.A.B. De C.V. (MX:AC) was up 1.36% or 1.44 points to 107.51 in late trade.

The worst performers of the session were Grupo Financiero Banorte (MX:GFNORTEO), which fell 6.05% or 6.350 points to trade at 98.650 at the close. Industrias Penoles Sab De CV (MX:PENOLES) declined 5.35% or 14.56 points to end at 257.46 and Genomma Lab Internacional SAB De CV (MX:LABB) was down 4.55% or 0.630 points to 13.230.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 175 to 102 and 8 ended unchanged.

Shares in Grupo Financiero Banorte (MX:GFNORTEO) fell to 52-week lows; falling 6.05% or 6.350 to 98.650. Shares in Industrias Penoles Sab De CV (MX:PENOLES) fell to 52-week lows; falling 5.35% or 14.56 to 257.46.

Gold Futures for December delivery was down 0.46% or 5.50 to $1200.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 2.06% or 1.24 to hit $58.95 a barrel, while the January Brent oil contract fell 1.37% or 0.96 to trade at $69.22 a barrel.

USD/MXN was up 1.07% to 20.3710, while EUR/MXN rose 0.13% to 22.8559.

The US Dollar Index Futures was up 0.78% at 97.49.

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Day Ahead: Top 3 Things to Watch

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.

1. Home Depot Leads Earnings

The early-morning action will be dominated by Dow component Home Depot (NYSE:HD).

On average, analysts expect that the home improvement company earned $2.27 per share, on revenue of $26.25 billion.

Home Depot will be yet another data point for how the housing market is performing.

Last week, DR Horton (NYSE:DHI) tumbled 9% after posting fiscal-fourth revenue that fell short of estimates and issued a warning of slowing orders growth.

Shares of Home Depot fell 3.5% today.

2. Fed Heads on Display

There are no major data releases on the economic calendar, but for those still a concerned about interest rate moves, there’s a bevy of Fed speakers.

At 10 AM ET (15:00 GMT), Federal Reserve board member Lael Brainard will be speaking. At the same time, Minnesota Fed President Neel Kashkari will also be talking.

At 5:00 PM ET, Fed governor Mary Daly will speak.

And at 2:20 PM ET, Philadelphia Federal Reserve President Patrick Harker will speak at the Fintech and the New Financial Landscape conference.

3. Oil Downtrend Continuing?

Oil prices will be in focus as they continue to decline.

Crude had all the right reasons to rise today, but still ended down for the 11th day in a row.

Prices of WTI and Brent crude both jumped as much as 2% at the start of Monday's trade in Asia after Saudi Energy Minister Khalid al-Falih said at the weekend that the kingdom planned to reduce by half-million barrels its daily supply to world markets.

But as trading progressed to the European and New York sessions, the gains began fizzling on the notion that the cuts were inadequate to compensate for ramping oil production, standing at a weekly record of 11.6 million barrels per day.

Energy investors will be looking to see if the bearish move continues.

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Canada stocks lower at close of trade; S&P/TSX Composite down 0.85%

Investing.com – Canada stocks were lower after the close on Monday, as losses in the Healthcare, IT and Materials sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite fell 0.85%.

The best performers of the session on the S&P/TSX Composite were Boralex Inc (TO:BLX), which rose 6.31% or 1.05 points to trade at 17.70 at the close. Meanwhile, SSR Mining Inc (TO:SSRM) added 3.48% or 0.48 points to end at 14.27 and Quebecor Inc Class B (TO:QBRb) was up 3.11% or 0.86 points to 28.48 in late trade.

The worst performers of the session were Aphria Inc (TO:APHA), which fell 13.63% or 2.360 points to trade at 14.960 at the close. Kinaxis Inc (TO:KXS) declined 7.69% or 5.69 points to end at 68.34 and Guyana Goldfields Inc . (TO:GUY) was down 7.50% or 0.120 points to 1.480.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 734 to 355 and 95 ended unchanged.

Shares in Kinaxis Inc (TO:KXS) fell to 52-week lows; falling 7.69% or 5.69 to 68.34. Shares in Quebecor Inc Class B (TO:QBRb) rose to 52-week highs; rising 3.11% or 0.86 to 28.48. Shares in Guyana Goldfields Inc. (TO:GUY) fell to 5-year lows; losing 7.50% or 0.120 to 1.480.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 17.56% to 19.75.

Gold Futures for December delivery was down 0.41% or 5.00 to $1201.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 1.89% or 1.14 to hit $59.05 a barrel, while the January Brent oil contract fell 1.24% or 0.87 to trade at $69.31 a barrel.

CAD/USD was down 0.17% to 0.7557, while CAD/EUR rose 0.75% to 0.6730.

The US Dollar Index Futures was up 0.76% at 97.47.

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Cisco Falls 3%

Investing.com - Cisco (NASDAQ:CSCO) fell by 3.09% to trade at $45.66 by 15:51 (20:51 GMT) on Monday on the NASDAQ exchange.

The volume of Cisco shares traded since the start of the session was 19.56M. Cisco has traded in a range of $45.63 to $47.25 on the day.

The stock has traded at $48.4400 at its highest and $44.9800 at its lowest during the past seven days.

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Oil Ends Down For 11th Day as Saudi Cuts Disappoint

Investing.com - Not even a day.

That's how long oil's rebound lasted after Saudi pledges to cut supply turned out to be too little for the market's liking.

Prices of West Texas Intermediate (WTI) and Brent crude both jumped as much as 2% at the start of Monday's trade in Asia after Saudi Energy Minister Khalid al-Falih said at the weekend that the kingdom planned to reduce by half-million barrels its daily supply to world markets from December.

But as trading progressed to the European and New York sessions, the gains began fizzling on the notion that the cuts were inadequate to compensate for ramping U.S. crude production, standing at a weekly record of 11.6 million barrels per day.

At settlement, WTI fell 26 cents to $59.93 per barrel, ending down for a 11th-straight day. The U.S. crude futures market has lost 22% since hitting four-year highs of nearly $77 in early October. On Friday, it fell to a 9-month low of $59.27.

Brent settled down 6 cents at $70.12 per barrel. The U.K.-traded global oil benchmark has lost about 20% from an October peak of nearly $87. On Friday, it sunk to a 7-month low of $69.15.

"I feel like the market has lost its bullish mojo and will need U.S. draws to get excited again and perhaps get these shorts out of the market," Scott Shelton, energy broker at ICAP (LON:NXGN) in Durham, N.C., said, pointing out that overall long positioning in WTI was at two-year lows.

While the path of least resistance in oil remained lower, Shelton said the Saudi pledge to cut "has taken the extreme downside out of the market".

"There could be shorts looking to cover as the tail risk to the downside has ended at least until Dec 6," he added.

Dec. 6 is when OPEC holds its all-important policy-setting meeting in Vienna, where production cuts will most likely top the agenda.

For an oil rally to last, traders are believed to be looking for cuts of at least 1.0 million bpd from OPEC to offset higher supplies resulting from generous US waivers on Iranian oil sanctions.

Falih, the Saudi Energy Minister, did say on Monday that technical analysis by OPEC and its allies showed the need for a million barrels to be taken off the market.

Yet, the so-called Joint OPEC and Non-OPEC Market Monitoring Committee meeting the minister chaired in Abu Dhabi at the weekend did not issue such a resolution.

This raised doubts on whether others at the meeting, including non-OPEC member Russia, were keen to cut. The Saudi reductions might also be more seasonal than anything, with Falih acknowledging December to be a slow period for demand.

The market's worries about oversupply was voiced by Bank of America Merrill Lynch (NYSE:BAC) in its latest oil note entitled "U.S. Energy Independence".

"The bigger question is how OPEC+ will factor in the US shale phenomenon this time around," the Wall Street bank said.

"With oil prices falling by 20% from the highs in recent weeks, the next OPEC+ decision will have to factor in: (1) the massive 2+ bpd year-on-year surge in U.S. output and (2) the negative demand impact of the ongoing trade tensions."

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Brazil stocks lower at close of trade; Bovespa down 0.07%

Investing.com – Brazil stocks were lower after the close on Monday, as losses in the Basic Materials, Industrials and Real Estate sectors led shares lower.

At the close in Sao Paulo, the Bovespa fell 0.07%.

The best performers of the session on the Bovespa were B2W Cia Digital (SA:BTOW3), which rose 5.78% or 1.81 points to trade at 33.13 at the close. Meanwhile, Magazine Luiza SA (SA:MGLU3) added 4.88% or 7.14 points to end at 153.54 and Qualicorp SA (SA:QUAL3) was up 2.83% or 0.39 points to 14.18 in late trade.

The worst performers of the session were Gerdau SA Pref (SA:GGBR4), which fell 4.03% or 0.65 points to trade at 15.47 at the close. Metalurgica Gerdau SA (SA:GOAU4) declined 3.27% or 0.26 points to end at 7.70 and Usinas Siderurgicas de Minas Gerais (SA:USIM5) was down 3.19% or 0.32 points to 9.70.

Falling stocks outnumbered advancing ones on the BM&FBovespa Stock Exchange by 238 to 206 and 46 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 4.95% to 41.10.

Gold Futures for December delivery was down 0.36% or 4.30 to $1202.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 1.83% or 1.10 to hit $59.09 a barrel, while the December US coffee C contract fell 3.43% or 3.90 to trade at $109.95 .

USD/BRL was up 0.93% to 3.7683, while EUR/BRL rose 0.09% to 4.2359.

The US Dollar Index Futures was up 0.67% at 97.38.

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Gold Down for Third-Straight Day; $1,200 Support Feeble

Investing.com - The dollar's strength is slowly and surely constricting gold, and it may just be days before bullion's $1,200 support is broken. In Monday's session, worries over Brexit negotiations dealt a fresh blow to the sterling, pushing up the greenback. The dollar index, which measures the greenback against a basket of six currencies, rose 0.7%.

U.S. gold futures for December delivery fell to an October bottom of $1,201.40 per troy ounce before settling at $1,203.50, down $5.10, or 0.4% on the day. It was a third straight day of losses for the yellow metal, which has lost about $20, or 1.5% since its last positive settlement on Nov 7.

Monday's bottom and settlement also left the December contract with a precariously small buffer to protect the $1,200 support, which had been the market's bedrock since September.

"There seems to be no stopping the dollar from increasing. It all has to do with the weakness in other world currencies boosting the dollar which, in turn, continues to pressure the price of gold," said Walter Pehowich, executive vice-president at Dillon Gage Metals in Addison, Texas.

"The holders of long positions strongly believe that the dollar’s recent climb to last week’s 16-month high is extremely overextended, and expect a correction to drive a significant short covering rally in hold," Pehowich added.

The dollar rallied last week after strong U.S. producer price index data on Friday became an endorsement for the Federal Reserve to raise interest rates again in December.

The Fed has already hiked rates three times this year and is determined to stay ahead of the inflationary curve with more increases in 2019 after the robust growth seen lately in the US economy.

Dealers are looking out for this week's consumer price index and retail sales data to see if they beat expectations and further inflate the dollar.

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Italy stocks lower at close of trade; Investing.com Italy 40 down 1.11%

Investing.com – Italy stocks were lower after the close on Monday, as losses in the Technology, Healthcare and Industrials sectors led shares lower.

At the close in Milan, the Investing.com Italy 40 lost 1.11%.

The best performers of the session on the Investing.com Italy 40 were Unipol Gruppo Finanziario Spa (MI:UNPI), which rose 3.20% or 0.117 points to trade at 3.770 at the close. Meanwhile, Telecom Italia (MI:TLIT) added 2.79% or 0.0144 points to end at 0.5304 and UnipolSai Assicurazioni SpA (MI:US) was up 1.82% or 0.037 points to 2.065 in late trade.

The worst performers of the session were STMicroelectronics (MI:STM), which fell 6.43% or 0.835 points to trade at 12.155 at the close. Pirelli&C SPA (MI:PIRC) declined 4.81% or 0.30 points to end at 5.89 and Buzzi Unicem (MI:BZU) was down 3.38% or 0.57 points to 16.46.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 261 to 89 and 24 ended unchanged.

Crude oil for December delivery was up 1.15% or 0.69 to $60.88 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 1.28% or 0.90 to hit $71.08 a barrel, while the December Gold Futures contract fell 0.25% or 3.00 to trade at $1203.40 a troy ounce.

EUR/USD was down 0.79% to 1.1246, while EUR/GBP rose 0.17% to 0.8750.

The US Dollar Index Futures was up 0.63% at 97.34.

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France stocks lower at close of trade; CAC 40 down 0.93%

Investing.com – France stocks were lower after the close on Monday, as losses in the Oil&Gas, Consumer Services and Basic Materials sectors led shares lower.

At the close in Paris, the CAC 40 lost 0.93%, while the SBF 120 index lost 0.98%.

The best performers of the session on the CAC 40 were Sodexo (PA:EXHO), which rose 1.30% or 1.22 points to trade at 94.92 at the close. Meanwhile, Danone SA (PA:DANO) added 0.56% or 0.37 points to end at 65.98 and Publicis Groupe SA (PA:PUBP) was up 0.53% or 0.28 points to 52.62 in late trade.

The worst performers of the session were STMicroelectronics NV (PA:STM), which fell 6.69% or 0.870 points to trade at 12.125 at the close. Atos SE (PA:ATOS) declined 4.65% or 3.60 points to end at 73.76 and Bouygues SA (PA:BOUY) was down 3.21% or 1.06 points to 32.00.

The top performers on the SBF 120 were Casino Guichard (PA:CASP) which rose 1.39% to 38.57, Sodexo (PA:EXHO) which was up 1.30% to settle at 94.92 and BIC (PA:BICP) which gained 1.07% to close at 90.00.

The worst performers were DBV Technologies (PA:DBV) which was down 8.74% to 31.100 in late trade, STMicroelectronics NV (PA:STM) which lost 6.69% to settle at 12.125 and Eramet (PA:ERMT) which was down 5.79% to 74.05 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 458 to 139 and 85 ended unchanged.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 11.43% to 18.00.

Gold Futures for December delivery was down 0.26% or 3.10 to $1203.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 1.13% or 0.68 to hit $60.87 a barrel, while the January Brent oil contract rose 1.28% or 0.90 to trade at $71.08 a barrel.

EUR/USD was down 0.79% to 1.1246, while EUR/GBP rose 0.18% to 0.8751.

The US Dollar Index Futures was up 0.63% at 97.34.

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U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 0.68%

Investing.com – U.K. stocks were lower after the close on Monday, as losses in the Tobacco, General Retailers and Automobiles&Parts sectors led shares lower.

At the close in London, the Investing.com United Kingdom 100 declined 0.68%.

The best performers of the session on the Investing.com United Kingdom 100 were Informa Plc (LON:INF), which rose 3.12% or 22.20 points to trade at 732.80 at the close. Meanwhile, Babcock International Group PLC (LON:BAB) added 2.63% or 15.80 points to end at 616.20 and Shire PLC (LON:SHP) was up 1.95% or 90.00 points to 4702.50 in late trade.

The worst performers of the session were British American Tobacco PLC (LON:BATS), which fell 10.62% or 352.00 points to trade at 2962.50 at the close. Kingfisher PLC (LON:KGF) declined 5.41% or 13.80 points to end at 241.30 and Fresnillo PLC (LON:FRES) was down 4.32% or 37.20 points to 823.80.

Falling stocks outnumbered advancing ones on the London Stock Exchange by 1418 to 662 and 289 ended unchanged.

Shares in British American Tobacco PLC (LON:BATS) fell to 3-years lows; losing 10.62% or 352.00 to 2962.50. Shares in Kingfisher PLC (LON:KGF) fell to 5-year lows; down 5.41% or 13.80 to 241.30. Shares in Shire PLC (LON:SHP) rose to 52-week highs; rising 1.95% or 90.00 to 4702.50.

Gold Futures for December delivery was down 0.20% or 2.40 to $1204.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 1.20% or 0.72 to hit $60.91 a barrel, while the January Brent oil contract rose 1.31% or 0.92 to trade at $71.10 a barrel.

GBP/USD was down 0.88% to 1.2857, while EUR/GBP rose 0.19% to 0.8752.

The US Dollar Index Futures was up 0.56% at 97.28.

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Morocco stocks lower at close of trade; Moroccan All Shares down 0.78%

Investing.com – Morocco stocks were lower after the close on Monday, as losses in the Construction&Building Materials, Banking and Telecoms sectors led shares lower.

At the close in Casablanca, the Moroccan All Shares fell 0.78%.

The best performers of the session on the Moroccan All Shares were Stroc Industrie (CS:STR), which rose 9.96% or 2.44 points to trade at 26.95 at the close. Meanwhile, CTM (CS:CTM) added 9.87% or 83.90 points to end at 933.90 and Miniere Touissit (CS:CMT) was up 7.47% or 107 points to 1540 in late trade.

The worst performers of the session were LafargeHolcim Maroc (CS:LHM), which fell 4.32% or 70 points to trade at 1550 at the close. AFMA SA (CS:AFM) declined 4.25% or 46 points to end at 1037 and Taqa Morocco SA (CS:TQM) was down 3.84% or 34.00 points to 851.00.

Rising stocks outnumbered declining ones on the Casablanca Stock Exchange by 13 to 11 and 9 ended unchanged.

Crude oil for December delivery was up 1.08% or 0.65 to $60.84 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 1.20% or 0.84 to hit $71.02 a barrel, while the December Gold Futures contract fell 0.20% or 2.40 to trade at $1204.00 a troy ounce.

EUR/MAD was down 0.31% to 10.7730, while USD/MAD rose 0.42% to 9.5742.

The US Dollar Index Futures was up 0.55% at 97.27.

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Sweden stocks lower at close of trade; OMX Stockholm 30 down 1.04%

Investing.com – Sweden stocks were lower after the close on Monday, as losses in the Consumer Services, Basic Materials and Technology sectors led shares lower.

At the close in Stockholm, the OMX Stockholm 30 lost 1.04%.

The best performers of the session on the OMX Stockholm 30 were Essity AB B (ST:ESSITYb), which rose 1.98% or 4.20 points to trade at 216.80 at the close. Meanwhile, AstraZeneca PLC (ST:AZN) added 0.94% or 6.9 points to end at 744.7 and Kinnevik, Investment AB ser. B (ST:KINVb) was up 0.50% or 1.2 points to 241.6 in late trade.

The worst performers of the session were Svenska Cellulosa SCA AB B (ST:SCAb), which fell 4.48% or 3.7 points to trade at 78.8 at the close. H&M Hennes&Mauritz AB B (ST:HMb) declined 4.06% or 6.5 points to end at 152.6 and Getinge AB ser. B (ST:GETIb) was down 3.08% or 2.7 points to 83.7.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 462 to 169 and 46 ended unchanged.

Shares in AstraZeneca PLC (ST:AZN) rose to all time highs; up 0.94% or 6.9 to 744.7.

Crude oil for December delivery was up 1.06% or 0.64 to $60.83 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 1.15% or 0.81 to hit $70.99 a barrel, while the December Gold Futures contract fell 0.21% or 2.50 to trade at $1203.90 a troy ounce.

EUR/SEK was down 0.28% to 10.2647, while USD/SEK rose 0.46% to 9.1206.

The US Dollar Index Futures was up 0.55% at 97.27.

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Facebook Falls 3%

Investing.com - Facebook (NASDAQ:FB) fell by 3.04% to trade at $140.55 by 11:51 (16:51 GMT) on Monday on the NASDAQ exchange.

The volume of Facebook shares traded since the start of the session was 7.35M. Facebook has traded in a range of $140.49 to $145.04 on the day.

The stock has traded at $154.1300 at its highest and $140.5000 at its lowest during the past seven days.

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Russia stocks lower at close of trade; MOEX Russia down 0.40%

Investing.com – Russia stocks were lower after the close on Monday, as losses in the Telecoms, Oil&Gas and Mining sectors led shares lower.

At the close in Moscow, the MOEX Russia fell 0.40%.

The best performers of the session on the MOEX Russia were SG mechel (MCX:MTLR), which rose 2.43% or 2.18 points to trade at 91.90 at the close. Meanwhile, Aeroflot (MCX:AFLT) added 1.85% or 1.76 points to end at 96.90 and Tatneft OAO Pref (MCX:TATN_p) was up 1.74% or 9.60 points to 562.80 in late trade.

The worst performers of the session were X5 Retail Group NV (MCX:FIVEDR), which fell 2.05% or 33.0 points to trade at 1577.5 at the close. Inter rao ees (MCX:IRAO) declined 1.97% or 0.0795 points to end at 3.9500 and Yandex NV (MCX:YNDX) was down 1.85% or 35.50 points to 1886.00.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 109 to 97 and 19 ended unchanged.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was up 7.57% to 29.130.

Gold Futures for December delivery was down 0.15% or 1.80 to $1204.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 1.15% or 0.69 to hit $60.88 a barrel, while the January Brent oil contract rose 1.30% or 0.91 to trade at $71.09 a barrel.

USD/RUB was down 0.49% to 67.7718, while EUR/RUB fell 1.20% to 76.2417.

The US Dollar Index Futures was up 0.61% at 97.32.

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Alphabet A Falls 3%

Investing.com - Alphabet A (NASDAQ:GOOGL) fell by 3.28% to trade at $1,041.66 by 11:29 (16:29 GMT) on Monday on the NASDAQ exchange.

The volume of Alphabet A shares traded since the start of the session was 656.91K. Alphabet A has traded in a range of $1,041.63 to $1,074.10 on the day.

The stock has traded at $1,109.9301 at its highest and $1,034.0000 at its lowest during the past seven days.

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Texas Instruments Falls 3%

Investing.com - Texas Instruments (NASDAQ:TXN) fell by 3.04% to trade at $93.18 by 11:19 (16:19 GMT) on Monday on the NASDAQ exchange.

The volume of Texas Instruments shares traded since the start of the session was 2.73M. Texas Instruments has traded in a range of $93.14 to $95.14 on the day.

The stock has traded at $98.7900 at its highest and $93.0800 at its lowest during the past seven days.

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Visa Falls 3%

Investing.com - Visa (NYSE:V) fell by 3.03% to trade at $139.57 by 11:05 (16:05 GMT) on Monday on the NYSE exchange.

The volume of Visa shares traded since the start of the session was 2.24M. Visa has traded in a range of $139.57 to $143.64 on the day.

The stock has traded at $145.4600 at its highest and $137.8500 at its lowest during the past seven days.

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Turkey stocks lower at close of trade; BIST 100 down 1.50%

Investing.com – Turkey stocks were lower after the close on Monday, as losses in the Basic Metals, Sports and Metal Products&Machinery sectors led shares lower.

At the close in Istanbul, the BIST 100 lost 1.50%.

The best performers of the session on the BIST 100 were Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (IS:GOLTS), which rose 20.00% or 6.08 points to trade at 36.48 at the close. Meanwhile, CarrefourSA Carrefour Sabanci Ticaret Merkezi AS (IS:CRFSA) added 19.74% or 0.60 points to end at 3.64 and Kiler Gayrimenkul Yatirim Ortakligi AS (IS:KLGYO) was up 16.76% or 0.300 points to 2.090 in late trade.

The worst performers of the session were Ulker Biskuvi Sanayi AS (IS:ULKER), which fell 6.17% or 1.01 points to trade at 15.37 at the close. Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS (IS:BJKAS) declined 5.33% or 0.090 points to end at 1.600 and Anel Elektrik Proje Taahhut ve Ticaret AS (IS:ANELE) was down 5.29% or 0.100 points to 1.790.

Falling stocks outnumbered advancing ones on the Istanbul Stock Exchange by 251 to 115 and 41 ended unchanged.

Shares in Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS (IS:BJKAS) fell to 5-year lows; losing 5.33% or 0.090 to 1.600.

Gold Futures for December delivery was down 0.12% or 1.50 to $1204.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 0.96% or 0.58 to hit $60.77 a barrel, while the January Brent oil contract rose 1.04% or 0.73 to trade at $70.91 a barrel.

USD/TRY was up 0.16% to 5.4666, while EUR/TRY fell 0.53% to 6.1554.

The US Dollar Index Futures was up 0.54% at 97.26.

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