GLOBAL MARKETS-Oil rally helps lifts equities; Wall St at record

Dear Viewers,

NEW YORK U.S. stocks climbed on Monday to set a record peak and European equity markets also advanced, buoyed by strong gains in the energy sector as oil prices surged to a three-week high.

Both Brent and U.S. crude LCOc1 jumped more than 4 percent to hit their highest levels in about three weeks, as the dollar weakened. The gains were also helped by comments by Russian President Vladimir Putin that raised expectations major oil producing countries could reach a deal to limit output at a meeting next week.

Among U.S. equities, the S&P energy index .SPNY gained 2.1 percent as the top-performing sector, helping to push the benchmark S&P 500 index above its intraday record of 2,193,81 set on Aug. 15. The advance put the index on pace to set a closing high.

"It’s in that mindset now, we have broken up and out, we are testing the highs, so new highs beget new highs," said Ken Polcari, director of the NYSE floor division at O’Neil Securities in New York. "Now it’s all psychological."

The Dow Jones industrial average .DJI rose 65.85 points, or 0.35 percent, to 18,933.78, the S&P 500 .SPX gained 14.38 points, or 0.66 percent, to 2,196.28 and the Nasdaq Composite .IXIC added 39.73 points, or 0.75 percent, to 5,361.24.

The Nasdaq hit an intraday record for a second day, reaching as high as 5,364.76, but market participants cautioned that volume was likely to be light this week ahead of the U.S. Thanksgiving Day holiday on Thursday.

The climb in oil lifted European markets, with the STOXX Europe oil & gas index .SXEP up 2.1 percent. Europe's index of leading 300 shares .FTEU3 closed up 0.3 percent. MSCI's all-country world index .MIWD00000PUS advanced 0.6 percent.

The dollar .DXY eased 0.06 percent to 101.15 against a basket of major currencies, pausing after a 10-day streak that saw it gaining nearly 5 percent. That rally was fueled by expectations of policies by U.S. President-elect Donald Trump that would lead to interest rate increases.

In similar fashion, U.S. Treasury yields, which have soared in the wake of the U.S. election, declined from one-year highs as the recent selloff tempted some new buyers. Benchmark 10-year note yields US10YT=RR jumped as high as 2.36 percent on Friday and were last up 2/32 in price to yield 2.3298 percent.

Sterling GBP= climbed 1 percent against the dollar to $1.2461 as the market processed British Prime Minister Theresa May's latest hints on the possible shape of Britain's exit from the European Union.

Copper prices CMCU3, which have risen on Trump's promise to spend heavily on infrastructure, were up 2.4 percent CMCU3 at $5,553.50 a tonne on the prospect of better demand in top consumer China and on the dip in the greenback.

The pause in the U.S. dollar rally helped gold XAU= bounce from a 5-1/2 month low. Spot gold was up 0.2 percent at $1,210.86 an ounce. Thanks.

Canada accelerates plan to phase out coal power, targets 2030

Hello Dear Viewers,

TORONTO Canada announced on Monday it will accelerate its plan to virtually eliminate traditional coal-fired electricity by 2030, a stance contrasting sharply with that of U.S. President-elect Donald Trump, who has pledged to revive the sector.

Canada's Liberal government ran on a platform to do more for the environment. Its coal-cutting plan would help it meet the emissions reduction targets of the Paris agreement, which Parliament ratified last month.

South of the border, the Republican Trump has vowed to ease the regulatory burden on all fossil fuel producers, including coal.

Globally, more than 2,400 coal power plants are under construction or being planned, experts say. Two-thirds are in China and India, according to a report by a dozen poverty and development organizations.

Canadian Environment Minister Catherine McKenna said Canada's coal regulation, which accelerates an existing phase-out timetable, will take into account the positions of provinces, some of which have resisted the federal government's plans to counter climate change.

Four provinces still burn coal for electricity - Alberta, Saskatchewan, Nova Scotia and New Brunswick - but the first already has a coal-cutting plan with a similar timeline.

Meeting the coal-cutting targets will be hard for those provinces as the transition may be costly, even with the flexibility the federal government granted, said Joe Aldina, director for U.S. coal for PIRA Energy Group.

But certain industries will likely benefit as provinces look for energy in new areas or further explore existing ones, he said.

"British Columbia, Quebec and Manitoba have really significant hydro resources," he said. "I'd expect a mix of natural gas and renewables to benefit."

Under Canada's plan, some plants will be allowed to stay open if equivalent emission reductions are achieved elsewhere, McKenna said.

"Eighty percent of Canada's electricity already comes from non-emitting sources," she said. "Our goal is to make Canada's electricity 90 percent non-emitting by 2030."

Ed Whittingham, executive director at the Alberta-based Pembina Institute, welcomed the government's move and called for the government to require 100-percent clean electricity supply by 2050.

Canada's existing plan to phase out coal power was announced in 2010, under the Conservative government. The move was welcomed by some in the industry, including TransAlta Corp (TA.TO), the country's largest operator. Thanks.

Merkel says she will seek 4th term as German chancellor

For your information, BERLIN Angela Merkel announced on Sunday she wants to run for a fourth term as German chancellor in next year's election, a sign of stability after Britain's vote to leave the European Union and the election of Donald Trump as the next U.S. president.

Despite a voter backlash over her open-door migrant policy, the 62-year old conservative said she would stand again in the September election, ending months of speculation over her decision.

"I thought about this for an endlessly long time. The decision (to run) for a fourth term is - after 11 years in office - anything but trivial," Merkel told a news conference after a meeting of senior members of her conservative Christian Democrat (CDU) party convened to prepare for the election.

Some 55 percent of Germans want Merkel, Germany's eighth chancellor since World War Two, to serve a fourth term, with 39 percent against, an Emnid poll showed on Sunday, highlighting that despite setbacks, she is still an electoral asset.

Merkel has steered Europe's biggest economy through the financial crisis and euro zone debt crisis and has won respect internationally, for example with her efforts to help solve the conflict in Ukraine. U.S. President Barack Obama last week described her as an "outstanding" ally.

With Trump's victory in the United States and the rise in support for right-wing parties in several European states, some commentators see Merkel as a bastion of Western liberal values.

"Angela Merkel is the answer to the populism of this time. She is, as it were, the anti-Trump," party ally Stanislaw Tillich, premier of the state of Saxony, told the RND newspaper group, adding she stood for reliability and predictability.

However, her decision last year to open Germany's borders to around 900,000 migrants, mostly from war zones in the Middle East, angered many voters at home and dented her ratings.

Her party has slumped in regional elections in the last year while support for the anti-immigrant Alternative for Germany (AfD) has swelled.

In September, after a heavy defeat for the CDU in a Berlin state election, a humbled Merkel surprised the country by saying she wished she could turn the clock back on the migrant crisis, though she stopped short of saying her policy was a mistake.

BIG TASKS AHEAD

If re-elected, her responsibilities will range from helping lead talks with Britain on its withdrawal from the EU, soothing tense relations with Turkey, a crucial partner in the migrant crisis, and developing a relationship with Trump.

Domestically, her biggest challenge will probably be managing the integration of refugees in an increasingly divided society and keeping Europe's powerhouse economy on track.

An Emnid poll on Sunday put Merkel's conservative bloc down one point at 33 percent, nine points ahead of her nearest rivals, the Social Democrats (SPD), with whom she shares power.

In a system where coalition governments are the norm, many pollsters see another 'grand coalition' as the most likely option after the election, although the rise of the AfD makes coalition arithmetic more complicated.

The SPD has not decided whether its chairman Sigmar Gabriel, Vice Chancellor and Economy Minister, will run against Merkel.

One of the SPD's deputy leaders, Ralf Stegner, said it would be a mistake to underestimate Merkel but that the "myth of invincibility" was over.

Merkel, who grew up in Communist East Germany, is a physicist who only became involved in politics after the fall of the Berlin Wall in 1989. She is seen as a talented negotiator but has also shown a ruthless streak.

A Protestant woman in a mainly Catholic and male-dominated party, at least when she became its leader in 2000, Merkel never built up a regional power base but over the years she has sidelined her main male rivals and has no obvious successor.

She still requires the official backing of her Christian Social Union (CSU) allies in Bavaria, who have fiercely criticized her open-door migrant policy. CSU head Horst Seehofer welcomed her decision on Sunday.

"We now want the trust of the population for another four years and therefore it is good that we have clarity," he said.

Germany has no limit on the number of terms a chancellor can serve. By standing again, Merkel, who said she wanted to serve the full fourth term, could end up matching the 16 years in office of her former mentor, Helmut Kohl. It was Merkel herself who broke with Kohl and told her party in 1999, in the midst of a funding scandal, that it should move on without him. Thanks.

High turnout as France's conservatives choose presidential candidate

Hello Dear Viewers,

You know about, PARIS French conservative voters turned out en masse on Sunday to choose their candidate for next year's presidential election in a tight primary race whose winner is seen as likely to make the Elysee Palace in 2017.

Sunday's primary vote will produce two candidates for a Nov. 27 run-off, with the foremost candidates being two former prime ministers, Alain Juppe and Francois Fillon, and ex-president Nicolas Sarkozy. The result was expected late on Sunday.

With the French left in disarray under the deeply unpopular President Francois Hollande, pollsters suggest that the center-right nominee to emerge after the head-to-head will defeat the National Front's eurosceptic, anti-immigration leader Marine Le Pen in the final round of the election next May.

"We're really tired of Hollande. We need a change," voter Marion, a lawyer, said outside a polling station in central Paris.

Juppe, a moderate conservative campaigning on an inclusive, "happy identity" platform, had for months appeared on track to win the nomination of the Les Republicains party and its center-right allies.

But over the past week the contest has been transformed into a tight race between Juppe, Sarkozy and Fillon, who served as prime minister under Sarkozy from 2007 to 2012.

Juppe, whom Sarkozy has for weeks accused of being held "hostage" by centrist allies, lost his lead in opinion polls to his rivals to the right on the political spectrum. Sarkozy has sought to tap into populist sentiment while Fillon is proposing tough measures to shake up the economy.

A Harris Interactive opinion poll on Sunday showed a majority of those surveyed considered Fillon and Juppe had fought the best campaign.

The race for the presidency is shaping up as new tests of strength between weakened mainstream parties and rising populist forces.

Polls show that whoever wins the conservative ticket should beat Le Pen, because she needs a 50 percent vote to become president and her party has never polled much more than 30 percent.

But after Britain's vote to quit the European Union and Donald Trump's surprise U.S. election win this year, few are prepared to write off her chances entirely.

Should Sarkozy or Fillon emerge as Le Pen's conservative opponent, polls and analysts suggest however that her electoral chances could be higher than if she faces Juppe, who is seen as having a wider voter appeal than his two rivals.

HIGH TURNOUT

A lot could hinge on turnout, with polls saying a high level would favor Juppe.

More than 2.5 million votes had been cast by 1700 local time according to a count conducted in 70 percent of the more than 10,000 polling stations.

Thierry Solere, president of the committee organizing the vote, called that a "considerable turnout" with two hours still left to vote and queues visible at a number of Paris polling stations.

There are other uncertainties in Sunday's vote, in which four more candidates, whom polls forecast have no chance of winning, also took part.

It is the first center-right primary to be held in France, and anyone who pays 2 euros ($2.12) and signs a form showing support for the party's values can take part.

That means voting patterns are to some extent untested, leaving potential for tactical voting by left and far-right supporters as well.

"I am not at all on the Right, I'm very much on the Left and I really want to block Sarkozy and I know that the Left won't get to the second round (of the presidential election) so I just want to stop Sarkozy and Marine Le Pen," one voter, Emeline, said. Thanks.

McDonald's investor renews push for antibiotic reduction in all meat

Dear Viewers,
McDonald's Corp (MCD.N) shareholder is redoubling efforts to convince the fast-food chain to stop all of its global restaurants from serving the meat of animals raised with antibiotics that are vital for fighting human infections.
More than 70 percent of medically important antibiotics in the United States are sold for livestock use. Scientists have warned that the routine use of antibiotics to promote growth and prevent illness in healthy farms animals contributes to the rise of dangerous, antibiotic-resistant "superbug" infections, which kill at least 23,000 Americans each year and pose a significant threat to global health.
The Congregation of Benedictine Sisters of Boerne, Texas, asked directors at McDonald's to prohibit the use of medically important antibiotics in its global poultry supply chain. McDonald's already has adopted that policy for the chicken served in its U.S. restaurants.
The group also asking the fast-food chain to set global targets and timelines for switching to pork and beef raised without the non-therapeutic use of medically important antibiotics.
Just over 20 percent of McDonald's shareholders voted in favor of a similar proposal at this year's annual meeting. The sisters pulled a prior resolution after McDonald's announced its plans to change its policies on chicken in the United States.
The sisters aim to have shareholders vote on the new proposal at McDonald's 2017 annual meeting.
McDonald's told Reuters it continues "to engage with key experts, including some who serve as advisors to the World Health Organization (WHO), to advance progress across the industry."
The company said its current policy "provides guidance to our suppliers in parts of the world where the industry does not yet have systems in place that would allow them to verify compliance throughout the supply chain."
Sister Susan Mika said the resolution is part of an ongoing process.
"I said we will be back," Mika said in a phone interview. "We want them to set goals and to be moving in a certain direction. We expect them to be a leader in taking on these questions of our time."

The sisters are part of the Interfaith Center on Corporate Responsibility (ICCR), which along with ShareAction, Farm Animal Investment Risk & Return (FAIRR) Initiative and As You Sow, also are targeting companies such as Sanderson Farms (SAFM.O) and Yum Brands Inc (YUM.N) with similar campaigns aimed at preserving the efficacy of antibiotics. Thanks.

GLOBAL MARKETS-U.S. dollar, stocks climb as Yellen signals rate hike coming

Dear Viewers,

NEW YORK Global stock indexes rose along with the U.S. dollar on Thursday after U.S. Federal Reserve Chair Janet Yellen said the central bank could raise interest rates "relatively soon."

Yellen, who testified on the economic outlook before the congressional Joint Economic Committee, indicated little had changed following the victory of Donald Trump in the Nov. 8 U.S. presidential election.

She said she intended to serve out her term, which ends in 2018, and indicated the Fed remained on track to raise rates at its meeting next month.

Expectations have been high among investors that the Fed will raise rates in December.

The dollar receded earlier in the day from a 13-1/2 year peak, though it turned higher after upbeat U.S. economic data stoked expectations of an acceleration in U.S. economic expansion in the fourth quarter.

The dollar index .DXY, tracking the greenback relative to a basket of six foreign currencies, extended gains in U.S. afternoon trading following Yellen's comments and was last up 0.5 percent.

U.S. stocks, which rallied after Republican Donald Trump's surprise White House win on the potential for economic stimulus, edged up, led by a 1.3 percent gain in financials .SPSY, which benefit from higher rates.

"A December rate hike is priced in. A number of Fed speakers have indicated that and they want the market to be prepared for when they do," said Erik Wytenus, global investment specialist at J.P. Morgan Private Bank.

"The Fed, though, is sensitive to the strength of the dollar and they don't want to hike too far too quickly."

The Dow Jones industrial average .DJI was up 1.78 points, or 0.01 percent, to 18,869.92, the S&P 500 .SPX had gained 7.22 points, or 0.33 percent, to 2,184.16 and the Nasdaq Composite .IXIC had added 27.73 points, or 0.52 percent, to 5,322.31.

MSCI's all-country world stock index .MIWD00000PUS was up 0.3 percent, while Europe's STOXX 600 rose 0.6 percent.

In the U.S. bond market, the yield curve steepened after the U.S. data suggested the labor market is tightening and inflation is beginning to gain traction.

That prompted investors to sell government debt with longer-dated maturities.

U.S. consumer prices posted their biggest increase in six months in October, while housing starts surged to a 9-year high and jobless claims fell to the lowest since November 1973.

The 10-year note US10YT=RR fell 15/32 in price to yield 2.275 percent.

Overseas, the Bank of Japan offered to buy unlimited bonds for the first time under a revamped policy framework as domestic debt yields surged in the wake of Trump's election victory.

More broadly, Japan's efforts will raise questions about how far central banks such as the European Central Bank and others will be willing to tolerate steep and sudden rises in government borrowing costs.

Oil prices were higher as expectations of an OPEC deal to limit production outweighed global oversupply concerns. Brent crude oil LCOc1 was up 11 cents a barrel at $46.74, while U.S. crude CLc1 was up 6 cents at $45.63.  Viewers,

NEW YORK Global stock indexes rose along with the U.S. dollar on Thursday after U.S. Federal Reserve Chair Janet Yellen said the central bank could raise interest rates "relatively soon."

Yellen, who testified on the economic outlook before the congressional Joint Economic Committee, indicated little had changed following the victory of Donald Trump in the Nov. 8 U.S. presidential election.

She said she intended to serve out her term, which ends in 2018, and indicated the Fed remained on track to raise rates at its meeting next month.

Expectations have been high among investors that the Fed will raise rates in December.

The dollar receded earlier in the day from a 13-1/2 year peak, though it turned higher after upbeat U.S. economic data stoked expectations of an acceleration in U.S. economic expansion in the fourth quarter.

The dollar index .DXY, tracking the greenback relative to a basket of six foreign currencies, extended gains in U.S. afternoon trading following Yellen's comments and was last up 0.5 percent.

U.S. stocks, which rallied after Republican Donald Trump's surprise White House win on the potential for economic stimulus, edged up, led by a 1.3 percent gain in financials .SPSY, which benefit from higher rates.

"A December rate hike is priced in. A number of Fed speakers have indicated that and they want the market to be prepared for when they do," said Erik Wytenus, global investment specialist at J.P. Morgan Private Bank.

"The Fed, though, is sensitive to the strength of the dollar and they don't want to hike too far too quickly."

The Dow Jones industrial average .DJI was up 1.78 points, or 0.01 percent, to 18,869.92, the S&P 500 .SPX had gained 7.22 points, or 0.33 percent, to 2,184.16 and the Nasdaq Composite .IXIC had added 27.73 points, or 0.52 percent, to 5,322.31.

MSCI's all-country world stock index .MIWD00000PUS was up 0.3 percent, while Europe's STOXX 600 rose 0.6 percent.

In the U.S. bond market, the yield curve steepened after the U.S. data suggested the labor market is tightening and inflation is beginning to gain traction.

That prompted investors to sell government debt with longer-dated maturities.

U.S. consumer prices posted their biggest increase in six months in October, while housing starts surged to a 9-year high and jobless claims fell to the lowest since November 1973.

The 10-year note US10YT=RR fell 15/32 in price to yield 2.275 percent.

Overseas, the Bank of Japan offered to buy unlimited bonds for the first time under a revamped policy framework as domestic debt yields surged in the wake of Trump's election victory.

More broadly, Japan's efforts will raise questions about how far central banks such as the European Central Bank and others will be willing to tolerate steep and sudden rises in government borrowing costs.

Oil prices were higher as expectations of an OPEC deal to limit production outweighed global oversupply concerns. Brent crude oil LCOc1 was up 11 cents a barrel at $46.74, while U.S. crude CLc1 was up 6 cents at $45.63. Thanks.

Fears over global populist revolt push up Italy's debt costs

Hello Dear Viewers,

MILAN Concerns that Italy could become the next nation to be hit by a global populist revolt, which could sink Matteo Renzi's premiership in a referendum next month, drove its borrowing costs to their highest for over a year on Friday.

Growing anger at the political mainstream in 2016 has seen Americans elect Donald Trump to the White House this week and Britons vote in June to leave the European Union.

It has also boosted support for anti-establishment parties in other countries in Europe and beyond, and could aid Italy's own 5-Star Movement as it seeks to wreck Renzi's attempts to win backing for constitutional reforms in the Dec. 4 referendum.

The prime minister has staked his political future on the vote over his plans, which would reduce the role of the Senate and take back power from the regions. At the start of his campaign he repeatedly pledged to quit if he lost, but in recent months has refused to confirm this.

Investors see an increasing chance of voters rejecting his measures, which could lead to a period of political upheaval.

Government bond yields jumped to their highest levels since mid-2015 at an auction that failed to reach its planned maximum size as demand for riskier longer-dated bonds wavered.

With one of the world's largest public debt piles, Italy's borrowing costs are closely watched as a potential flashpoint for market instability in the wider euro zone.

They risked spiraling out of control during the sovereign debt crisis until European Central Bank President Mario Draghi pledged in July 2012 to do whatever it took to save the euro.

As well as investor concerns over the referendum, Italian bonds - like others around the world - have also been hit by expectations that Trump's plans to cut taxes and spend on infrastructure would boost global inflation.

French bonds also fell victim to rising political risks this week as the country nears presidential elections next year when the far-right Front National is hoping to benefit from populist discontent.

"A victory for Front National leader (Marine) Le Pen would certainly put the EU's future in question," Credit Suisse said in a note, adding the chances of this happening were very low.

'DEMOLITION MAN'

Opinion polls suggest Italian voters will reject Renzi's reforms. Pollsters, however, got it badly wrong in both the U.S. presidential election and the Brexit vote.

Ironically Renzi himself has appealed to anti-establishment anger, earning the nickname "Demolition Man" when he took power in 2014 for pledges to destroy old political structures. But critics say he has not delivered on his promises.

The 41-year-old prime minister is trying to present the constitutional reform as a break with the past and entrenched powers.

"The referendum is a chance for Italians to choose change and a simpler system that costs less, or to keep the current one, bringing back to power the old guard that has already failed," he said in a broadcast on Facebook this week.

Carlo Galli, a deputy who left Renzi's Democratic Party (PD) for a small left-wing group last year, said the premier was "desperately" trying to show he was not part of an elite.

"It's bizarre to maintain that someone who has sat in Palazzo Chigi (the prime minister's office) for three years is not one of the elite," Galli told La Repubblica newspaper.

'RISING TENSIONS'

In Friday's bond sale, the Treasury sold 6.9 billion euros ($7.5 billion) of bonds, drawing demand for 1.5 times that amount but missing its upper target.

Weak appetite for the bonds due in 2040 and 2047 marked a shift in market mood just over a month after Rome attracted strong demand with its first-ever sale of a 50-year bond.

"Today's auction, with weaker demand at the longer end of the yield curve, is probably one of the first signs of rising tensions on Italy's debt ahead of the referendum," IG strategist Vincenzo Longo said.

Standard & Poor's on Friday confirmed its BBB- rating on Italy with a stable outlook, while cutting its growth forecasts for its chronically sluggish economy to 0.9 percent from 1.1 percent this year and to 0.8 percent from 1.3 percent for 2017.

S&P said the constitutional reform could help political stability and effectiveness, but a rejection of the referendum would not be significant for Italy's creditworthiness unless it led to a reversal of structural reforms.

Rival ratings agency Fitch last month downgraded Italy's outlook to negative from stable, citing its weak growth and high debt as well as the political uncertainty.

Rome has already covered 96 percent of its funding needs for this year but debt management chief Maria Cannata has warned large redemptions next year will make refinancing tough. Thanks.

U.S. drillers add oil rigs for 21st week in 24 -Baker Hughes

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U.S. oil drillers increased rigs this week for a 21th week in the last 24, as energy firms follow through on plans to add rigs made months ago when crude was still trading over the key $50 a barrel level analysts said should lead to more drilling.

Drillers added two oil rigs in the week to Nov. 11, bringing the total count up to 452, the most since February, but still below the 574 rigs seen a year ago, energy services firm Baker Hughes Inc said on Friday.

Since crude topped $50 a barrel in May, June and October, drillers have added 136 oil rigs, its biggest recovery in over two years since prices collapsed due to a global oil glut.

The Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May as U.S. crude collapsed from over $107 a barrel in June 2014 to near $26 in February 2016.

U.S. crude futures were trading above $43 a barrel on Friday, on track to fall for a third week in a row after OPEC said its output in October reached a record high, casting doubt on whether its plans to limit production would ease persistent oversupply in the market. [O/R]

But with oil prices still expected to rise in 2017 and 2018 with a projected tightening of the supply-demand balance, analysts continued to expect energy firms to follow through on previously announced plans to boost spending on new drilling in coming years.

Futures were trading near $47 a barrel for calendar 2017 and near $50 for calendar 2018.

Analysts at U.S. financial services firm Cowen & Co said this week in a note that its capital expenditure tracking showed 17 exploration and production (E&P) companies, including ConocoPhillips and Concho Resources Inc, planned to increase spending by an average of 33 percent in 2017 over 2016.

Cowen said that forecast 2017 increase followed an estimated 48 percent decline in 2016 and a 35 percent decline in 2015 for the 65 E&P companies it tracks.

Analysts at Simmons & Co, energy specialists at U.S. investment bank Piper Jaffray, this week forecast the total oil and natural gas rig count would average 504 in 2016, 685 in 2017 and 896 in 2018. Most wells produce both oil and gas.

That compares with an average of 978 oil and gas rigs active in 2015, according to Baker Hughes data. Thanks.

Canadian casino says it was hacked, data was stolen

Dear Viewers,

TORONTO A major Canadian casino has been hit by a cyber attack in which sensitive customer, employee and vendor data was stolen, its management said on Thursday, warning there is a risk the information will be published.

The Casino Rama Resort in Ontario said the hacker claimed to have stolen financial reports, patron credit inquiries, collection and debt information, payroll and other data in an intrusion it first became aware of on Friday.

It said the hacker claims the employee data included social insurance numbers and dated back to 2004, with some other stolen data dating back to 2007.

The casino sits on the Rama First Nation about two-hours drive north of Toronto and has about 3 million visitors a year. Its day-to-day operations are run by CHC Casinos Canada Limited, an indirect subsidiary of Penn National Gaming Inc, under license from the province's gaming operator.

Penn National did not immediately respond to a request for comment.

The breach is at least the second time this year that a casino that sits on aboriginal land has fallen victim to a hack, following a breach at the River Cree Resort and Casino in Alberta in March.

Casino Rama has more 2,500 slot machines, more than 110 gaming tables, 8 restaurants and a 5,000 seat entertainment venue and an attached 300-room hotel.

The casino had gross gaming revenue of C$348.3 million ($259.3 million) in the fiscal year to end-March 2015, Ontario Lottery and Gaming Corporation spokesman Tony Bitonti said. Casino resorts in Ontario brought in a total of C$1.16 billion in revenue in that period, he said.

Casino Rama said there was no evidence that the hacker was still inside its computer systems, and that it was working with provincial and federal police and private cyber security experts to investigate the breach. Thanks.

Volatility shorts cash in despite shock U.S. election

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NEW YORK Nov 10 Options traders who had bet that stock market volatility would plummet after the election made outsized gains even if Donald Trump's win seemed to take financial markets by surprise.

The CBOE Volatility Index, the most widely followed gauge of near-term investor anxiety, collapsed on Wednesday, in the largest one-day decline in more than five years.

While a drop in expectations for stock market volatility after a big news event is not unusual, the intensity of this pullback was.

"That's a truly remarkable turnaround in less than one full trading day," said Ophir Gottlieb, chief executive of Los Angeles-based Capital Market Laboratories.

VIX November futures contracts roared to a four-month high of 23.46 on Tuesday night as the results of the election began to favor Trump, counter to earlier expectations that the victor would be Democrat Hillary Clinton.

On Wednesday, the VIX closed down 23 percent at 14.38 and the November futures contracts fell 37 percent from their session peak.

The collapse in volatility was good news for options traders who went against the grain and bet on a decline in stock market volatility even as the options market grew more jittery as Election Day approached.

Even before Election Night, some traders were already betting that volatility would return to pre-election levels, strategists at BNP Paribas said in a note on Thursday.

On November 4, a record 769,214 VIX puts were traded, according to the Chicago Board Options Exchange. Since the VIX usually moves inversely to the stock market and puts offer the opportunity to profit from a decline in the VIX, owning a VIX put is a bet on lower volatility.

The collapse in the VIX makes the value of these puts jump.

For instance, November VIX puts with a strike price of 17 traded as low as $1.05 on Friday. On Thursday, these contracts traded for as much as $3.

On Wednesday, these puts traded in heavy volume, including a large trade were a trader appeared to be selling 26,500 of the contracts for $2.25. While it is not clear when these contracts were bought, they traded for an average price of $1.66 in the two weeks before the election on November 8. Thanks.

Mexico cenbank, govt hold off new measures after Trump victory

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Nov 9 Mexico's central bank governor and finance minister held off announcing any new measures to protect the country's tumbling peso on Wednesday, after Donald Trump's victory sent it down by as much as ten percent.

Finance Minister Jose Antonio Meade said in a news conference that uncertainty and volatility had increased since Trump's win, but that there was no immediate impact on trade rules between the two countries.

The central bank will hold a planned monetary policy meeting next week, Governor Agustin Carstens said. Thanks.

GLOBAL MARKETS-Stocks, Mexican peso advance ahead of U.S. election results

Dear Viewers,

NEW YORK Global equity markets climbed and the Mexican peso rallied on Tuesday as investors leaned toward the potential victory of Democratic candidate Hillary Clinton in the U.S. presidential election.

Markets turned higher after treading water for the early portion of the session, although U.S. equities retreated from their session highs.

While the dollar strengthened slightly against a basket of currencies, the Mexican peso shot to a two-month high versus the greenback.

The Mexican currency has been a market proxy for sentiment over the U.S. election and has performed in inverse correlation with Republican candidate Donald Trump's perceived chances of winning the White House. The iShares MSCI Mexico ETF, touched its highest level since mid-August and was last up 2.2 percent.

Mexico is considered most vulnerable to Trump's planned trade policies as 80 percent of its exports go to the United States.

Market participants cited projections from data firm Votecastr, which showed Clinton in the lead in several battleground states.

"The Votecastr thing is absolutely helping the market move higher," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group. "Investors will take whatever data they can get, although I really don’t know how accurate the data is."

The market has been pricing in a win for Clinton, including a 2 percent jump in the S&P 500 on Monday after the FBI maintained its view that no criminal charges were warranted in a probe over her email practices.

The Dow Jones industrial average was up 70.29 points, or 0.38 percent, to 18,329.89, the S&P 500 gained 6.1 points, or 0.29 percent, to 2,137.62 and the Nasdaq Composite added 20.03 points, or 0.39 percent, to 5,186.20.

Safety play gold weakened, down 0.3 percent to $1,276.65 an ounce and yields on U.S. Treasuries touched a one-week high.

At the end of a bruising election campaign, the Reuters/Ipsos States of the Nation poll gave Clinton a 90 percent chance of defeating Trump and said she was on track to win 303 Electoral College votes out of 270 needed, to Trump's 235.

Europe's index of 300 leading shares, which posted its biggest gain in two months on Monday, closed 0.3 percent higher. MSCI's all-country world index was up 0.4 percent after notching its best day since late June on Monday.

Clinton, generally seen as a known quantity, has been the preferred candidate for investors over political wild card Trump. But markets remained wary, noting Britain's shock vote in June to leave the European Union had caught investors and pollsters off guard.

"I’d be a little hesitant to waive the all clear signal at this point," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.

Benchmark 10-year U.S. Treasury notes fell 11/32 in price to yield 1.8672 percent after touching a high of 1.876 percent, up from Monday's 1.828 percent. Thanks.

US STOCKS-Wall Street climbs as investors bet on Clinton victory

Dear Viewers,

U.S. stocks rose for a second straight session on Tuesday, helped by early voter turnout estimates favoring Democrat candidate Hillary Clinton in the U.S. presidential election.

Wall Street sees the former secretary of state as lending greater clarity and stability to the markets, while Republican candidate Donald Trump's stance on foreign policy, trade and immigration is less certain.

Data company VoteCastr, which is providing real-time election information through news outlets, including Slate, showed Clinton with an early lead among voters in Florida, a must-win state for Trump.

Several investors said VoteCastr's data had pushed stock prices higher, although they were cautious about its accuracy.

"We were dramatically oversold. People were nervous Trump would win," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "There's likely to be additional volatility in both directions between now and the end of the day."

Shortly after 2:30 pm ET, the Dow Jones industrial average .DJI was up 73.24 points, or 0.4 percent, to 18,332.84, the S&P 500 .SPX had gained 6.46 points, or 0.3 percent, to 2,137.98 and the Nasdaq Composite .IXIC had added 20.96 points, or 0.41 percent, to 5,187.13.

The CBOE Volatility index .VIX, dubbed Wall Street's "fear gauge," reversed an early increase and dipped 0.75 after having notched its biggest one-day drop since late June on Monday.

The iShares MSCI Mexico Capped ETF (EWW.P), known of late as the "Trump ETF," rose 1.75 percent. The ETF is viewed as a barometer of Trump's chances of winning the election since his policies are considered negative for Mexico.

U.S. stocks opened slightly lower, then turned positive and extended the morning's gains.

Clinton has a 90 percent chance of defeating Trump, according to the final Reuters/Ipsos States of the Nation poll released on Monday.

She was on track to win 303 votes in the electoral college to Trump's 235, clearing the 270 needed for victory. She also leads Trump by about 44 percent to 39 percent in the popular vote, according to the poll.

The S&P 500 has surged 2.7 percent since the FBI said on Sunday it would not press criminal charges against Clinton over her use of a private email server, an announcement seen as improving her chances at the polls.

Shares of Smith & Wesson Holding (SWHC.O) and Sturm Ruger & Co (RGR.N) both rose over 1.5 percent. Their sales have benefited in the past from fears among gun owners of increased gun control.

Aetna (AET.N) and Anthem (ANTM.N) jumped more than 2 percent. Both health insurers have gained from the Affordable Care Act, which Clinton has vowed to extend.

Advancing issues outnumbered declining ones on the NYSE by a 1.48-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favored advancers.

The S&P 500 posted 22 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 56 new highs and 66 new lows. Thanks.

UPDATE 1-U.S. SEC probing banks over possible mismanagement of ADRs - WSJ

Dear Viewers,

The U.S. Securities and Exchange Commission is investigating whether big banks have been mishandling securities in the American Depositary Receipt (ADR) market, the Wall Street Journal reported on Monday.

The SEC has sent subpoenas to four banks over the issue - Bank of New York Mellon Corp (BK.N), Citigroup Inc (C.N), Deutsche Bank AG (DBKGn.DE) (DB.N) and JPMorgan Chase & Co (JPM.N), the Journal reported, citing people close to the matter. (on.wsj.com/2eFTBJ4)

The probe, which is looking at whether the banks have broken controls designed to prevent market abuse and tax fraud, will not necessarily result in enforcement action, the report said.

A major focus of the SEC inquiry is the "pre-release" of ADRs, where banks issue depositary receipts to investors without first having the underlying shares in their custody, the Journal reported.

That means the shares could be sold short without actually having them - a practice known as "naked short selling", which is illegal.

ADRs represent shares of foreign companies that are held in custody by U.S. banks. Trading in ADRs rather than the underlying shares reduces administration and trading costs, both for companies and for investors.

Deutsche Bank and Citigroup declined to comment on the report, while the other two banks did not immediately respond to requests for comment. Thanks.

UPDATE 1-UK privacy watchdog says Facebook agrees to suspend using WhatsApp users

Dear Viewers,

BRUSSELS Britain's privacy watchdog said on Monday that Facebook (FB.O) has agreed to suspend using data from UK users of its WhatsApp messaging app after the watchdog said consumers weren't properly protected.

The watchdog said the social media giant faces action if it uses such data without valid consent.

The Information Commissioner's Office (ICO) had said in August that it would monitor WhatsApp's new privacy policy, after WhatsApp, acquired by Facebook in 2014, said it would share user data with its parent company.

"We're pleased that they've agreed to pause using data from UK WhatsApp users for advertisements or product improvement purposes," the head of ICO, Elizabeth Denham, said in a statement.

"If Facebook starts using the data without valid consent, they may face enforcement action from my office," she said.

The regulator said it had also asked Facebook and WhatsApp to sign an undertaking committing to better explaining to customers how their data would be used and to give them ongoing control over the information.

However, the companies have so far not agreed.

"We think consumers deserve a greater level of information and protection, but so far Facebook hasn't agreed," Denham said.

Facebook and WhatsApp did not immediately respond to a request for comment.

The two companies have also come under scrutiny from the wider group of the EU's 28 data protection authorities, who last month requested that the popular messaging service pause sharing users' data with its parent company until the appropriate legal protections could be assured.

Denham said she did not think users had been given enough information about what Facebook would do with their data and that WhatsApp had not obtained valid consent.

Enforcement action could ultimately lead to fines. Such fines are small compared to the revenues of the companies concerned. However, a new EU-wide data protection law coming into force in 2018 would change that with fines of up to 4 percent of global turnover.

Denham said she would keep pushing the issue along with other privacy watchdogs, notably the Irish authority which has the most sway over Facebook since the U.S. company's European headquarters are in Ireland. Thanks.

U.S. regulator found another cheat device in Audi car - report

Hello Dear viewers,

FRANKFURT A U.S. regulator found software in some Audi vehicles that lowered their carbon dioxide emissions if it detected they were being used under test conditions, Bild am Sonntag reported.

The California Air Resources Board (CARB) discovered the software in an automatic transmission Audi last summer, the German weekly newspaper said, without citing any sources.

CARB had no immediate comment and Audi was not immediately available for comment on Sunday's Bild am Sonntag report.

The paper said the device, which was not the same as the one which triggered last year's diesel emissions scandal at Audi parent Volkswagen (VOWG_p.DE), was also used in diesel and gasoline-powered cars in Europe.

VW's admission that it had installed software that deactivated pollution controls on more than 11 million diesel vehicles sold worldwide, triggered the deepest business crisis in the German carmaker's history.

Audi (NSUG.DE), the main contributor to VW group profit, has also admitted its 3.0 liter V6 diesel engine was fitted with emissions-control software.

Bild am Sonntag said the software discovered by CARB, which was installed in vehicles with certain automatic transmissions, detected whether a car's steering wheel was turned.

If it was not, indicating laboratory testing conditions, the software turned on a gear-shifting program which produced less carbon dioxide than in normal road driving. If the wheel was turned in any direction by more than 15 degrees, the program was switched off, the paper said.

Audi stopped using the software in May 2016, just before CARB discovered the manipulation in an older model, the paper said, adding that the carmaker had suspended several engineers in connection with the matter.

Bild am Sonntag said a spokesman for Audi had declined to comment, citing ongoing talks with U.S. and California regulators on a proposed fix for cars with 3.0 liter engines. Thanks.

UPDATE 1-GE alerts airlines about engine part after American Airlines fire

Hello Dear Visitors,

General Electric Co is seeking to remove an engine part from service after an American Airlines jet erupted in flames last week, it told air carriers in a letter seen by Reuters on Saturday.

The manufacturer has identified a “limited number” of parts closely related to one used by American that had a "material anomaly," according to the letter sent on Friday.

All but one of the parts are now out of service, GE said in the letter. It added that it was working with the single airline with an aircraft still equipped with the part to ensure its removal from service.

GE did not name the airline. A company spokesman, Rick Kennedy, confirmed that GE had sent the letter and said it was still in the early stage of an "intense investigation."

On Oct. 28, American Airlines Flight 383 from Chicago to Miami aborted takeoff following an "uncontained" engine failure, a rare event in which components spew from an engine and can tear through the aircraft cabin or rupture fuel tanks in the wings. The airline was flying a Boeing Co 767 aircraft with CF6-80C2 engines made by GE.

In this instance, the failure caused a fuel leak that resulted in a fire, though no one aboard was seriously injured.

An American Airlines spokesman said none of the company's aircraft in operation had the additional parts that GE referred to in the letter. The spokesman added that American was turning over a part from an engine not in operation to the U.S. National Transportation Safety Board (NTSB) for further examination.

U.S. investigators have yet to assign blame for last week's incident. However, they said on Friday that a so-called stage 2 disk in the engine showed what appeared to be cracking. 

The disk's corrupted material likely indicated a manufacturing defect, either by the parts or metal maker, said Jim Hall, a former NTSB chairman.

In its letter, GE stressed the reliability of its CF6 engines which it said had flown more than 400 million hours since the 1970s.

GE will update engine operators if action is later required, the letter said.

Bloomberg earlier reported news of the letter from GE. Thanks.

UPDATE 1-Shots fired at Istanbul's Ataturk Airport, two men detained - TV

Hello Dear Viewers,

ISTANBUL Turkish authorities briefly barred cars from entering and leaving Istanbul's main Ataturk Airport on Sunday after police fired shots when a motorcycle refused an order to stop, CNN Turk said.

One of two men aboard the motorcycle was wounded and detained and the second was apprehended by police after a pursuit, the private broadcaster reported. No police or civilians were reported hurt.

In June, suicide bombers suspected of belonging to Islamic State killed 41 people and wounded some 240 others with gunfire and explosives at the airport.

The latest incident did not affect flights at Ataturk, Europe's third-busiest airport, the channel reported. Ataturk is the hub of state-run carrier Turkish Airlines.

It was not immediately clear why the police ordered the men to stop.

On Friday, a car bomb detonated in the mainly Kurdish city of Diyarbakir, killing 11 people and wounding at least 100. Officials blamed the autonomy-seeking Kurdistan Workers Party (PKK), although Islamic State claimed responsibility for the attack, according to the group's Amaq news agency.

Kurdish militants, Islamic State radicals and far leftists have all staged attacks on civilians in Turkey in recent years. Thanks.

UPDATE 1-UK's Labour has 'bottom line' for supporting Brexit vote -Corbyn

Dear Viewers,

LONDON The head of Britain's opposition Labour Party will try to block divorce talks with the European Union if the government does not agree to Labour's Brexit demands, potentially leading to an early national election, a newspaper said on Saturday.

Jeremy Corbyn told the Sunday Mirror that Labour's "Brexit bottom line" would require guarantees for access to the EU's single market for exporters, continued protection of workers' rights, safeguards for consumers and the environment and pledges that Britain would make up any loss of EU capital investment.

England's High Court dealt Prime Minister Theresa May a setback on Thursday when it ruled that the decision to begin formal talks about leaving the EU needed to be approved by parliament.

The government has said it will appeal the decision but should it have to hold the vote, the ruling Conservative Party may struggle to get the majority it needs because some of its own members have concerns about the terms of Brexit.

"We are not challenging the referendum. We are not calling for a second referendum," Corbyn told the Sunday Mirror. "We're calling for market access for British industry to Europe."

May told other EU leaders on Friday she believed the court ruling would be overturned and said she would stick to her timetable of starting the Brexit negotiations before the end of March.

The Labour Party supported the "Remain" campaign ahead of the June 23 referendum.

In his interview with the Sunday Mirror, Corbyn said he was looking forward to the possibility of an election before the next scheduled national poll in 2020.

"If the government calls an election we're ready for it," he said. "We have the members, the organization and the enthusiasm. We welcome the challenge."

Separately on Saturday, another newspaper quoted May as saying there would be no going back on the government's Brexit plan, despite the setback in the High Court and calling on pro-EU lawmakers and judges to accept the outcome of the referendum.

"Instead of re-fighting the battles of the past, we should be focusing on how we can come together as a country to make the most of this great national opportunity and forge a bold, confident, global future for Britain," May wrote in the Sunday Telegraph. Thanks.

UPDATE 2-U.S. tentatively approves Delta-Aeromexico venture

Dear Viewers,

WASHINGTON/NEW YORK Delta Air Lines Inc (DAL.N) and Aeromexico can set prices and coordinate schedules for their U.S.-Mexico flights, but they must free up certain airport slots to bolster competition, the U.S. Transportation Department tentatively ruled on Friday.

The decision paves the way for the two companies to dominate the second-busiest market for travel to or from the United States. It comes after the U.S. airline industry has consolidated, with carriers operating more efficient itineraries and having more power to raise fares on some routes.

Opponents of the tentative ruling, which lets the airlines cooperate with immunity from U.S. antitrust law, have until Nov. 30 to raise objections.

The department said the decision benefits the public because Delta and Grupo Aeromexico SAB de CV (AEROMEX.MX) can plan shorter layovers, increase flights and offer more destinations. The U.S. government has approved similar arrangements for many other airlines.

However, the department has proposed that the carriers divest 24 takeoff and landing slots in Mexico City and six at New York's John F. Kennedy International Airport to give budget airlines room to add flights.

Slot allocation in Mexico City depends "on confusing and often unwritten rules, making it extremely difficult for new entrants," the department said. "This remedy would allow for new, competitive entry at these airports that would not otherwise be possible."

In an unusual move, the department also proposed limiting Delta and Aeromexico's antitrust immunity to five years because it was unclear whether the divestitures and reforms in Mexico City would be enough to ensure low fares for travelers.

In a statement, Delta said it was reviewing the tentative decision and looked forward to implementing a cooperation agreement with Aeromexico. It is in the process of buying 49 percent of Aeromexico, similar to stakes it has taken in other airlines to influence how they operate and where they fly.

Friday's ruling "really gives Delta a huge advantage" over United Continental Holdings Inc (UAL.N) and American Airlines Group Inc (AAL.O), which will be unable to compete for Mexico flights outside their major hubs, said industry consultant Robert Mann.

Delta's shares were up nearly 3 percent at $43.03 on Friday afternoon. Aeromexico's rose nearly 5 percent.

Budget carrier JetBlue Airways Corp (JBLU.O), which had wanted the airlines to divest at least 30 slots in Mexico City, said it commended the department for ensuring greater airport access.

Aeromexico did not immediately comment.

Mexico's federal competition commission approved the airlines' joint venture in May. Thanks.

US STOCKS-S&P set to snap losing streak after strong jobs report

Dear Viewers,

Wall Street gained modestly on Friday after a strong U.S. employment report as investors sought bargains after a spate of selling sparked by uncertainty over the impending U.S. elections.

The S&P 500 was on track to snap a streak of eight straight days of declines, which had been the benchmark's longest run of down days since the 2008 financial crisis. The tech-heavy Nasdaq was also on pace to snap an eight-session losing streak.

Over its losing streak, the S&P 500 had fallen nearly 3 percent. Investors have been unnerved by signs of a tightening presidential race between Democrat Hillary Clinton and Republican Donald Trump, after Clinton had until recently been thought to have a clear lead.

"Investors are buying anything that looks like a dip and that is because the fundamentals continue to be pretty good even though I think there is a lot of anxiety about next week’s election," said Kate Warne, investment strategist with Edward Jones in St. Louis. "With the pullback, I think investors are seeing some bargains out there."

The Dow Jones industrial average .DJI rose 5.24 points, or 0.03 percent, to 17,935.91, the S&P 500 .SPX gained 3.78 points, or 0.18 percent, to 2,092.44 and the Nasdaq Composite .IXIC added 5.47 points, or 0.11 percent, to 5,063.88.

U.S. employers maintained a strong pace of hiring in October and boosted wages for workers, the Labor Department report on Friday showed. Nonfarm payrolls increased by 161,000 jobs last month amid gains in construction, healthcare and professional and business services.

While that was below economists' forecast for growth of 175,000 jobs, solid labor market fundamentals were underscored by revisions to August and September data, which showed 44,000 more jobs created than previously reported.

"The upward revisions over the last two months suggest that the overall picture is continued job growth," Warne said. "That means that consumers have more money and that should continue to support economic growth."

For the year, the S&P 500 is up 2.5 percent.

In an encouraging sign for stocks, S&P 500 companies are on pace to increase earnings by 3.9 percent in the third quarter, ending a four-quarter streak of profit declines, according to Thomson Reuters I/B/E/S.

Higher-than-expected quarterly profits from biotech company Regeneron (REGN.O) and health insurer Humana (HUM.N) lifted those companies' shares along with the S&P healthcare sector .SPXHC, which was the best performing group on Friday.

Advancing issues outnumbered declining ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.75-to-1 ratio favored advancers.

The S&P 500 posted 4 new 52-week highs and 13 new lows; the Nasdaq Composite recorded 28 new highs and 126 new lows. Thanks.

WRAPUP 5-Strong U.S. job growth, rising wages boost Dec rate hike prospects

Dear Viewers,

WASHINGTON U.S. employers maintained a strong pace of hiring in October and boosted wages for workers, which could effectively seal the case for a December interest rate increase from the Federal Reserve.

Nonfarm payrolls increased by 161,000 jobs last month amid gains in construction, healthcare and professional and business services, the Labor Department said on Friday. The closely watched employment report was published four days before the Nov. 8 presidential election.

The solid labor market fundamentals were also underscored by revisions to August and September data, which showed 44,000 more jobs created than previously reported. Average hourly earnings rose 10 cents or 0.4 percent in October.

As a result, the year-on-year gain in wages last month rose to 2.8 percent, the largest in nearly 7-1/2 years.

"This was a very good report. With the hourly wage number beginning to accelerate, the Fed will have all the cover it needs to raise rates in December," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.

The report came on the heels of data last week showing an acceleration in economic growth in the third quarter. Businesses have created 15.5 million jobs since 2010, with almost half of them high wage jobs. Even Americans holding low-income jobs are starting to experience wage gains.

Economists said that could provide a lift to Democratic candidate Hillary Clinton against her Republican rival Donald Trump as the race for the White House tightens and becomes increasingly bitter and divisive.

Speaking in Pittsburgh on Friday Clinton hailed the 73 straight months of job gains and took a swipe at Trump's tax proposal, which she said would to give the biggest tax breaks in history to wealthy Americans.

"I believe in growth from the middle out and bottom up. When the middle class thrives, America thrives," said Clinton. "Donald Trump believes in something different. He wants an economy that works for him."

Trump dismissed the low unemployment rate and other economic data as "phony."

"These numbers are absolute disaster. Nobody believes the numbers anyway. The numbers they put out are phony," Trump told supporters in Atkinson, New Hampshire.

Though the U.S. central bank is expected to increase borrowing costs at the Dec. 13-14 policy meeting, that decision will likely depend on the outcome of Tuesday's election.

Financial markets view Clinton as the candidate of the status quo, while many investors fear that a Trump victory would carry risks to global trade and growth.

The dollar was trading almost flat against a basket of currencies, while U.S. Treasuries were higher. U.S. stocks rose, with the S&P 500 index on track to snap its eight-day losing streak.

The unemployment rate fell one-tenth of a percentage point to 4.9 percent last month, in part as people dropped out of the labor force. A broad measure of unemployment that includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment fell two-tenths of a percentage point to an 8-1/2 year low of 9.5 percent.

The Fed on Wednesday left interest rates unchanged but said its monetary policy-setting committee "judges that the case for an increase in the federal funds rate has continued to strengthen." It lifted its benchmark overnight interest rate last December for the first time in nearly a decade.

TREND HAS SLOWED

The trend in employment growth has slowed as the labor market nears full employment and the economy's recovery from the 2007-09 recession shows signs of aging.

Employment growth so far this year has averaged 181,000 jobs per month, down from an average gain of 229,000 per month in 2015. Still, the monthly job gains are more than enough to absorb new entrants into the labor market.

Fed Chair Janet Yellen has said the economy needs to create just under 100,000 jobs a month to keep up with growth in the work-age population.

October's rise in average hourly earnings added to September's 0.3 percent gain. The year-on-year increase was the biggest advance since June 2009 and followed a 2.7 percent rise in September.

"This is good news for the average worker who's probably seeing a little more in their paychecks, spending a little more freely, or maybe even starting to save a little for retirement," said Scott Anderson, chief economist at Bank of the West in San Francisco.

The Fed on Wednesday struck a fairly upbeat note on inflation, saying price pressures had "increased somewhat since earlier this year."

Still, wage growth remains moderate and economists blame this on a low labor force participation rate.

The participation rate, or the share of working-age Americans who are employed or at least looking for a job, fell 0.1 percentage point to 62.8 percent last month, not too far from multi-decade lows, in part reflecting demographic changes.

The solid payrolls gain accompanied by the surge in wages could support consumer spending heading into the holiday season, and in turn keep the economy on a relatively higher growth path.

While the household survey showed a large increase in the number of people saying they could not get to work because of bad weather, the department said it was difficult to assess the impact of Hurricane Matthew on job growth last month.

The storm lashed the east coast of the country last month, causing extensive flooding. The average workweek held steady at 34.4 hours.

Construction payrolls increased 11,000, rising for a second straight month. But manufacturing employment fell 9,000 last month, falling for a third straight month.

Retail sector employment surprisingly fell 1,100 jobs, despite anecdotal evidence retailers had embarked on early hiring for the holiday season.

Professional and business services payrolls rose 43,000. Healthcare and social assistance employment increased 39,100 last month. Temporary-help jobs, a harbinger for future hiring, increased 6,400. Government employment rose by 19,000 jobs. Thanks.

GLOBAL MARKETS-Stocks jittery after election-linked selling; oil prices weak

Dear Viewers,

NEW YORK Global equity markets were jittery on Friday, even as Wall Street clung to modest gains as investors looked past worries about the outcome of the U.S. presidential election to snap an eight-day losing streak.

Oil prices remained weak on skepticism about whether OPEC members will adhere to planned production limits, boosting concerns about low inflation and sending U.S. Treasury prices higher.

A dismal outing for Asian and European share indexes weighed on MSCI's 47-country "All World" index .MIWD00000PUS, which was down 0.31 percent, but the index was supported by Wall Street.

U.S. stocks found favor with investors after eight straight days of losses, the longest losing streak since 2008, which sent the S&P 500 index down 2.9 percent.

"Investors are buying anything that looks like a dip and that is because the fundamentals continue to be pretty good even though I think there is a lot of anxiety about next week’s election," said Kate Warne, investment strategist with Edward Jones in St. Louis.

"With the pullback, I think investors are seeing some bargains out there."

An upbeat jobs report helped soothe nerves. U.S. employers maintained a strong pace of hiring in October and boosted wages, which could effectively seal the case for a December interest rate increase from the U.S. Federal Reserve. [nLNN4MEC7Q]

"This was a very good report. With the hourly wage number beginning to accelerate, the Fed will have all the cover it needs to raise rates in December," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.

Economists also said the upbeat employment report could provide a boost to Democratic candidate Hillary Clinton against her Republican rival Donald Trump as the race to the White House tightens and becomes increasingly bitter and divisive.

Investors have been unnerved by signs the race is tightening; Clinton had until recently been thought to have a clear lead.

The Dow Jones industrial average .DJI fell 8.15 points, or 0.05 percent, to 17,922.52, the S&P 500 .SPX gained 1.76 points, or 0.08 percent, to 2,090.42 and the Nasdaq Composite .IXIC added 0.68 point, or 0.01 percent, to 5,059.09.

European shares slumped, weighed down by weaker drugmakers after two U.S. lawmakers called on federal antitrust regulators to open an investigation into possible price fixing.

Europe's broad FTSEurofirst 300 index .FTEU3 closed down 0.79 percent at 1,296.32.

Oil futures were on course for their biggest weekly percentage declines since January of just under 10 percent as signs of tensions resurfaced between Saudi Arabia and Iran that could scupper a key supply cut pact.

Riyadh told a meeting of OPEC experts last week that it could raise oil output steeply to bring prices down if Tehran refuses to limit its supply, OPEC sources say.

Brent crude LCOc1 settled down 77 cents, or 1.66 percent, at $45.58 a barrel, and U.S. crude CLc1 settled down 59 cents, or 1.32 percent, at $44.07.

The weakness in oil prices raised concerns about low inflation and boosted U.S. Treasury prices. Uncertainty about the election also enhanced the appeal of the lower-risk assets.

Benchmark 10-year notes US10YT=RR were up 8/32 in price to yield 1.78 percent, after rising as high as 1.83 percent on the employment data.

While the solid U.S. jobs report supported expectations for a December Federal Reserve interest rate hike, it failed to stem losses for the U.S. dollar.

Nervousness ahead of next week's election has hit the greenback in recent days and the dollar index .DXY, which measures the greenback against a basket of six major currencies, was down 0.1 pct, near a three-week low.

Gold steadied, heading for its biggest weekly rise since mid-September as jitters over the election offset the solid payrolls report.

Spot gold prices XAU= were little changed at $1,302.89 an ounce. Thanks.

GLOBAL MARKETS-Stocks slip on U.S. election nerves; pound up on Brexit ruling

Dear Viewers,

NEW YORK Global equity prices drifted lower on Thursday as worries about the U.S. presidential election continued to weigh on investor sentiment, while sterling rose after a UK court ruled that the British government needed Parliament's approval to trigger Brexit.

Longer-dated U.S. Treasury prices slipped after the Bank of England indicated that inflation is likely to rise further, and oil prices remained weak on skepticism about OPEC's planned production limit.

MSCI's 47-country "All World" index .MIWD00000PUS fell 0.37 percent, dragged down by weakness on Wall Street.

The S&P 500 .SPX fell for an eighth straight session, its longest losing streak since the 2008 financial crisis, as Facebook shares weighed and investors grappled with uncertainty over next week's U.S. election.

Facebook (FB.O) shares fell as much as 6 percent, a day after the social media giant warned that revenue growth would slow this quarter.

"The polls have tightened and now the concern is more about what might a Trump presidency look like and the market hasn't quite priced that in," said Ernie Cecilia, chief investment officer of Bryn Mawr Trust in Bryn Mawr, Pennsylvania.

"Given the fact that the election is five days away, that's what's driving near-term behavior right now."

Investors have been unnerved in recent days by signs that the U.S. presidential race between Democrat Hillary Clinton and Republican Donald Trump was tightening just days before Tuesday's vote.

The CBOE Volatility Index .VIX, a gauge of near-term investor anxiety, rose 14 percent to its highest level since late June.

The Dow Jones industrial average .DJI fell 28.97 points, or 0.16 percent, to close at 17,930.67, the S&P 500 .SPX lost 9.28 points, or 0.44 percent, to finish at 2,088.66 and the Nasdaq Composite .IXIC dropped 47.16 points, or 0.92 percent, to end at 5,058.41.

The pan-European STOXX 600 ended flat, giving up early gains as a strengthened pound weighed on the shares of internationally exposed companies, including Diageo (DGE.L).

Sterling surged to a four-week high after the UK court ruling soothed concerns about Brexit and the Bank of England scrapped plans to cut interest rates. It climbed as much as 1.5 percent to hit $1.2494 GBP=D4, its strongest since Oct. 7.

Meanwhile, the U.S. dollar hovered near multi-week lows against a basket of major currencies, ending a morning reprieve in which the greenback stabilized, on uncertainty surrounding the outcome of the U.S. presidential election. The dollar index .DXY was down 0.25 percent to 97.156.

"We're now seeing markets price in a higher risk of a Trump presidency," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington. "Most polls are still showing that it’s far too close to call, and that's ultimately what is keeping investors nervous."

In bond markets, longer-dated U.S. Treasury prices fell after the Bank of England indicated that inflation is likely to rise further, while uncertainty over the U.S. election propped up shorter-dated debt.

The BoE ramped up its forecasts for growth and predicted that inflation would jump to 2.7 percent this time next year, nearly triple its current level. [nL8N1D45PY]

Benchmark 10-year notes US10YT=RR ended down 5/32 in price to yield 1.82 percent, up from 1.80 percent late on Wednesday.

Oil prices extended their recent slide as investors reacted to a record weekly surge in U.S. crude inventories and remained skeptical about whether the Organization of the Petroleum Exporting Countries can actually implement its planned output cap.

Brent crude LCOc1 settled down 51 cents, or 1.09 percent, at $46.35 a barrel, and U.S. crude CLc1 settled down 68 cents, or 1.50 percent, at $44.66.

Gold edged higher in response to the lower dollar and uncertainty about the outcome of the U.S. presidential race.

Spot gold prices XAU= were up 0.49 percent to $1,303.26.  Thanks.

UPDATE 1-CBS revenue, profit beat estimates as affiliate fees rise

Dear Viewers,

CBS Corp (CBS.N), owner of the most-watched U.S. TV network, reported a better-than-expected quarterly profit and revenue, helped by an increase in fees from CBS-affiliated stations as well as growth from digital distribution platforms.

CBS, home to popular shows such as "Homeland" and "The Big Bang Theory", said revenue rose 4.3 percent to $3.396 billion in the third quarter.

Analysts had expected revenue of $3.34 billion, according to Thomson Reuters I/B/E/S.

Revenue from CBS's affiliate and subscription fees division rose 13.4 percent to $753 million in the quarter. Revenue from its content licensing and distribution business, one of its fastest growing, rose 6 percent to $1.11 billion.

The company said ad revenue, which accounts for more than 40 percent of total revenue, fell slightly to $1.47 billion.

CBS said net income from continuing operations rose to $514 million, or $1.15 per share, in the three months ended Sept. 30, from $426 million, or 88 cents per share.

Excluding items, CBS earned $1.05 per share, beating the average analyst estimate of 98 cents per share.

CBS has been trying to beef up its online streaming services to attract young viewers, who are ditching the traditional television services.

Alphabet Inc's (GOOGL.O) Google reached an agreement with CBS to carry the network on its planned web TV service, Reuters reported last month.

Apart from its main stay cable business, CBS is also home to publishing house Simon & Schuster.

The company's shares were up just under 1 percent after the bell. Thanks.

FOREX-Dollar slumps against euro, jumps against peso on potential Trump win

Dear Viewers,

NEW YORK The U.S. dollar hit its lowest level in more than three weeks against the euro, yen, Swiss franc and sterling on Wednesday on nervousness about a potential victory for U.S. Republican presidential candidate Donald Trump next week.

Investors are rethinking long-held bets on a Nov. 8 victory for Democrat Hillary Clinton. Clinton held a 5 percentage point lead over Trump, according to a Reuters/Ipsos opinion poll released on Monday, but some other polls showed her Republican rival ahead by 1 to 2 percentage points.

The dollar index .DXY, which measures the greenback against a basket of six major currencies, was last down 0.3 percent at 97.403, after falling 0.6 percent to 97.178, its lowest level since Oct. 11.

The Mexican peso tumbled to a more than one-month low against the greenback, at 19.4667 pesos MXN= per dollar, on fears of how a Trump victory could hurt the Mexican economy.

Clinton is viewed as the candidate of the status quo, while there is greater uncertainty over what a Trump victory might mean for U.S. foreign policy, international trade and the domestic economy.

"There is a huge amount of unknown unknowns around Trump," said Richard Franulovich, a senior currency strategist at Westpac Banking Corp in New York.

The euro EUR= was last up 0.3 percent at $1.1088 after rising 0.6 percent in afternoon trading to $1.1123, its highest level since Oct. 11. Against the yen the dollar was down 0.7 percent, at 103.40 yen, after falling 1 percent earlier to 103.03 yen, its lowest level Oct. 10.

The dollar was last down 0.2 percent against the Swiss franc CHF=, at 0.9733 franc, after earlier falling about 0.6 percent to 0.9695, its lowest level in roughly a month.

The dollar pared losses after the Federal Reserve kept interest rates unchanged in its last policy decision before the U.S. election, but signaled it could hike rates in December as the economy gathers momentum and inflation picks up.

The move in the dollar was mild, analysts said, because U.S. political uncertainty largely overshadowed the central bank's statement.

The Mexican peso suffered MXN= a roughly 1.4 percent drop against the dollar. A possible Trump victory has been viewed as a key risk for the Mexican currency given the candidate's promises to clamp down on immigration and rethink trade relations.

"The peso weakening is a reflection of the increase in momentum from the polls favoring Trump," said Mazen Issa, senior currency strategist at TD Securities in New York. Thanks.

UPDATE 2-Bank of Canada's Poloz says satisfied with messaging

Dear Viewers,

VANCOUVER Nov 1 Bank of Canada Governor Stephen Poloz said on Tuesday he was satisfied with the way the central bank communicated its last policy decision, despite the volatile reaction of markets, because it conveyed that the downside risks it warned about had solidified.

Poloz acknowledged the rocky reaction to the bank's Oct. 19 rate decision and subsequent news conference, during which Poloz surprised markets with the news that policymakers had actively considered cutting rates but ultimately held them steady.

"I'm satisfied that in a relatively tricky situation with a lot of moving parts that both in our press release and in the subsequent remarks we were able to offer clarity on how we think about those things," Poloz told reporters following a speech in Vancouver.

"Both the press release and the remarks indicated clearly that the risks that we highlighted in September had in fact crystallized... In the end, the market takes the information and runs with it and it is what it is."

The Canadian dollar initially firmed after the Oct. 19 rate decision. But Poloz's subsequent revelation that the central bank had "actively discussed" adding stimulus then sent the currency tumbling, drawing criticism from some market players.

Scott Smith, senior market analyst at Cambridge Global Payments, said on Tuesday that Poloz has little room to object to how markets respond to his communication.

"He can't be viewed by market participants as being reactionary or necessarily caught off guard in terms of how the market responds to his actions or his thoughts," Smith said.

In his speech to a Vancouver business group, Poloz said the bank had seriously considered raising its inflation target to give it more flexibility to cut rates, but decided unconventional measures provide more room to maneuver than previously believed.

Arguing in favor of the renewal of the inflation target at the midpoint of a 1-to-3 percent range, Poloz said pushing inflation up to 3 percent "might be quite difficult to do, and might require some significant economic fluctuations, given how well inflation expectations appear to be anchored at 2 percent."

He also reiterated that the government is better suited to address threats like a hot housing market or high household debt than the "very blunt tool" of moving interest rates. Thanks.

UPDATE 3-ADM profit jumps on higher U.S. grain exports; shares rise

Dear Viewers,

CHICAGO U.S. agricultural products trader Archer Daniels Midland Co (ADM.N) on Tuesday reported a far better-than-expected third-quarter profit on Tuesday as higher U.S. exports of corn and soybeans boosted volumes and margins.

U.S. farmers have nearly completed what is expected to be the largest corn and soybean harvests on record, which should benefit ADM again in the current quarter.

"With improving market conditions and a large U.S. harvest, combined with the team's solid execution capabilities, we feel good about the remainder of the year and a stronger 2017," Chief Executive Officer Juan Luciano said in a statement.

ADM shares were up nearly 4 percent at $45.25 in premarket trading.

Chicago-based ADM makes money buying, selling, storing, transporting and processing grains and oilseeds around the world. Margins are typically thin, but volumes are massive when crop supplies are abundant and prices are low, as they are now.

Export sales of corn and soybeans from the United States were well ahead of the normal pace in the third quarter due to crop shortages in South America.

Net earnings attributable to the company rose to $341 million, or 58 cents per share, in the quarter, from $252 million, or 41 cents, a year earlier.

Revenue fell 4.4 percent to $15.83 billion.

Excluding items, ADM earned 59 cents per share, beating the average analyst estimate of 46 cents a share, according to Thomson Reuters I/B/E/S.

ADM's agricultural services unit, its largest in terms of revenue, gained from the shift in export demand to North America, with earnings totaling a net $195 million, up 31 percent from a year earlier.

Although ethanol earnings trailed a year ago, lower corn prices boosted results in corn processing. Adjusted profit in the segment jumped 30 percent to $214 million in the quarter.

ADM said it is expecting final proposals for a deal for its ethanol-producing corn dry mills by the end of 2016. The company is looking to sell or find a partner for the assets amid frustration over a persistent oversupply in the market that has thinned margins for making the biofuel.

Results in the oilseeds processing business were dragged down by weak soy processing margins, reduced South American crop supplies and a steep quarterly loss at Wilmar International Ltd (WLIL.SI). ADM owns about 23 percent of the Singapore-based vegetable oils processor. Thanks