US directory of national intelligence Ratcliffe announces the discovery
US has identified Russia, Iran as countries who have attempted to interfere with the US election
Has sent spoof emails designed to intimidate voters, incite unrest, damage Pres. Trump
Aware that Russia has obtained some voter information
intelligence community court threat, reacted swiftly
This is not a partisan issue
Prepared for actions by those hostile to democracy
The interference apparently came through emails threatening those who voted against Trump.
Radcliffe says that the email, apparently from The Proud Boys, is intended to hurt Pres. Trump. Of course, if a recipient was intimidated by the email, it might benefit Pres. Trump.
Regardless of the intentions, stopping interference in elections is certainly a prerogative. FBI’s Wray is on the wires saying:
The FBI will not tolerate 4 interference elections
Election infrastructure remains resilient
Speaker Pelosi’s chief of staff Drew Hamill
House speaker Pelosi’s chief of staff Drew Hamill is tweeting:
Speaker Pelosi and Treasury Secretary Mnuchin spoke for 48 minutes
Conversation brought 2 sides closer to being able to put pen to paper to write legislation with the exchange of legislative language, we are better prepared to reach compromise on several priorities
Differences continue to be narrowed on health priorities including language providing a national strategic testing and contract track tracing plan
More work needs to be done to ensure schools are the safest place in America for children to learn
Pelosi and Mnuchin plan to speak again tomorrow hopefully with further guidance from committee chairs as they work work to resolve open questions
Earnings come in at $0.76 vs. estimate of $0.57
Tesla earnings are coming out better-than-expected with EPS at $0.76 vs. estimates of $0.57.
Revenues $8.77 billion vs. estimate $8.36 billion
3rd quarter free cash flow $1.4 billion vs. $418 million quarter on quarter
The stock is trading up 3.3% at $437
Whirlpool also smashed earnings estimates on both the top and bottom lines and reinstated 2020 guidance
Revenues $5.29 billion vs. $4.76 billion estimate
earnings per share come in at $6.91 vs. $4.20 estimate. Dividend was up
reinstated 2020 guidance expected $17.50 to $18 EPS vs. $13.50 estimate
increased dividend to a $1.25
Whirlpool shares are up 9% in after-hours trading
Up and down trading day on stimulus hopes
The major US indices are ending the session with modest declines – but near the lows – in what has been an up and down session spurred on by the coronavirus stimulus talks out of Washington.
The final numbers are showing:
S&P index -7.64 points or -0.22% at 3435.48
NASDAQ index -31.799 points or -0.28% at 11484.69
Dow industrial average -98.1 points or -0.35% at 28210.69
The major indices gave up earlier gains.
The S&P index was up 21.74 points at the high
The NASDAQ index is up 97.3 points at the high
The Dow industrial average was up 141 points at the high
Tesla will report Q3 results after the bell (at about 4:20 PM ET)
earnings-per-share expected at $0.57
revenues expected at $8.36 billion
Also reporting after the close are Chipotle, CSX, Whirlpool, and Sands.
European indices today also close lower across the board and near their session lows. The UK FTSE 100 and Italian MIB was the weakest of the majors.
The latest Fed report on the economy
Growth continued but was slight-to-modest
Manufacturing generally increased at moderate pace
Commercial real estate conditions continued to deteriorate in many districts
Consumer spending growth remained positive, but some Districts reported a leveling off of retail sales and a slight uptick in tourism activity.
Districts characterized the outlooks of contacts as generally optimistic or positive, but with a considerable degree of uncertainty
Banking contacts in many Districts expressed concern that delinquency rates may rise in coming months
Overall, consumer prices across Districts rose modestly
There are some worrisome comments on New York real estate in the report, saying condo sales were down nearly 50% y/y with inventories rising sharply. They also noted that office rental rates were down 8% y/y.