Todays highlights: Bullish trend continues in most markets
- Volatility expected for CAD: Both the Consumer Price Index and Core Retail Sales reports are due in Canada at 12:30 GMT. The reports could potentially impact the Canadian Dollar.
- Adobe skyrockets 12%: Graphic software giant Adobe shared its fiscal prediction for 2018 yesterday and unveiled Artificial-Intelligence-powered cloud technology. Investors had an extremely positive reaction to the news, sending the companys stock up more than 12%.
- Lyft and Stitch Fix seek IPO: Two startup companies are en-route to join Wall Street. Uber competitor Lyft is reportedly exploring the option with Alphabet leading the fundraising effort, while fashion eCommerce startup Stitch Fix has already filed with the SEC for an IPO.
- Yellens speech could cause market volatility: Fed Chair Janet Yellen is set to speak at the Herbert Stein Memorial Lecture, at 23:30 GMT, potentially providing clues to the Feds future monetary policy.
Tax reform taking shape in the US
The US Senate yesterday passed a budget resolution, bringing the Trump administration closer to launching its tax reform. The budget still needs to be approved by Congress. If the budget is approved, it will pave the way for the Republicans to pass their tax bill. The bill should include some significant tax breaks for American corporations, potentially boosting many major stocks traded in the US.
Stocks earnings releases on 20/10/2017
Stocks earnings releases on 23/10/2017
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