Oct 24

5 things to start your day : Bloomberg Market News

From: Bloomberg Market

Congress gets ambitious over tax plan, it’s PMI day, and HSBC trader convicted of fraud.

Tax bill due

USA: ambitious schedule for releasing tax legislation over the next few weeks. "changes to 401(k) accounts remain on the table".

Trump announcing his nominee for chair of the Federal Reserve.

PMI day

A composite Purchasing Managers’ Index for the euro area slipped to 55.9 in October. Related: taper asset purchases.

Fraud

Currency trader Mark Johnson was convicted of nine out of 10 fraud and conspiracy counts by a jury in New York yesterday. $10 billion in penalties.

Markets mixed

Overnight, the MSCI Asia Pacific Index climbed 0.1 percent,

Japan’s Nikkei 225 Stock Average extended its record winning streak to a 16th day.

In Europe, the Stoxx 600 Index was 0.1 percent lower at 5:45 a.m.

S&P 500 futures were unchanged after the index ended yesterday’s session lower,

the 10-year Treasury yield was at 2.395 percent, and gold retreated.

Party party over

President Xi Jingping to move to the party’s constitution, putting him alongside Mao Zedong and Deng Xiaoping.

Here’s what you should read today

Sayed Ahmed

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