America’s economy grew faster than thought in July-September, despite the trade war with China
- John Deere profit warning
- European stocks at four-year high
- Chinese factory profits plunge 9.9%
- Worst monthly slide since 2011 (apart from Jan-Feb)
Just in: US personal spending rose by 0.3% in October, in line with forecasts.
But pending home sales fell by -1.7%, much worse than the 0.2% rise expected. We learned yesterday that house prices were rising across US cities, but it appears that a shortage of properties is hurting.
Pending home sales fall 1.7% in October, as housing shortage worsens https://t.co/iRA4oyMXDu
Pharmaceutical firm Pfizer is the biggest rise on the Dow, up 1% in early trading.
Goldman Sachs (+0.6%), Apple (+0.5%) and Walmart (+0.44%) are also helping to push the index to its latest record high, with Nike and JP Morgan close behind.