Most stocks up…poll: most Americans say economy is poor
UNDATED (AP) – Stocks have advanced in Europe and most of Asia today, with Tokyo’s benchmark up 2.6% after the ruling Liberal Democrats won a stronger than expected majority in an election Sunday. The Kospi in Seoul closed 0.3% higher. The Shanghai Composite index edged 0.1%. In early trading in Europe, Germany’s DAX rose 0.6%, the CAC 40 in Paris added 0.5% and Britain’s FTSE 100 gained 0.4%. On Wall Street, Dow and S&P 500 futures are 0.2% higher.
SAN FRANCISCO (AP) – A new poll suggests that Americans’ opinions on the U.S. economy have soured noticeably in the past month. The Associated Press-NORC Center for Public Affairs Research poll found that just 35% of Americans now call the national economy good, while 65% call it poor. That’s a dip since September, when 45% called the economy good, and a return to about where views of the nation’s economy stood in January and February. Roughly half of Americans now say they expect the economy to get worse in the next year. Still, the majority of individuals remain optimistic about their personal financial situation.
LONDON (AP) – The chief executive of Barclays bank has stepped down follow what the bank’s board describes as a “disappointing? report by the U.K.’s Financial Conduct authority into his past links with the late financier and sex offender Jeffrey Epstein. Jes Staley says he will contest the findings. The bank says “the investigation makes no findings that Mr. Staley saw, or was aware of, any of Mr. Epstein’s alleged crimes.” Epstein killed himself at a Manhattan federal lockup in August 2019, a month after his arrest on sex trafficking charges.
BEIJING (AP) – Official data show Chinese manufacturing activity contracted for a second straight month in October amid materials shortages and widespread power cuts. The National Bureau of Statistics says the official manufacturing purchasing managers index dipped to 49.2 in October, down from 49.6 in September. The index is measured on a 100-point scale on which numbers above 50 show activity increasing. The indicators are closely watched as a barometer of China’s economic growth. Analysts have warned activity may slow further as manufacturers grapple with the power crunch, shortages of materials and surging costs.
TAIPEI, Taiwan (AP) – Shanghai Disneyland will remain closed today and Tuesday after a recent visitor tested positive for COVID-19. The theme park locked down late Sunday. Park officials say they’re cooperating with an epidemiologist investigation. China has been serious about enforcing its zero-tolerance pandemic prevention strategy. It’s kept its borders sealed and moved quickly to cut the chain of transmission.