Daily FNArena News

Weekly musings from your editor. It’s the eve of an historic US election but what does it mean for the share market?

AGMs and outlooks statements set the tone this week, while the RBA’s quarterly monetary policy statement is sure to be a market mover.

Telstra’s investor’s day was a success according to brokers, as it showed the company’s transformation and earnings outlook remain on track.

According to State Street Global Markets professional investors remain on the sidelines as volatility remains high and as the economic outlook gives little reason for optimism.

Margin pressures and regulatory changes are unlikely to help the Australian pharmaceutical wholesale sector.

The ABS October labour force numbers showed a surprise increase, but economists warn of a calm before the storm.

According to Barclays Capital the oil price has overshot to the downside as it adjusts to changing market dynamics and economic conditions but longer-term supply side issues support higher prices.

The Reserve Bank of Australia’s surprise 75bp cut shows just how keen it is to avoid a recession, shifting its focus from inflation to growth.

According to State Street Global Markets equities are cheap at current levels but professional investors are still on the sidelines. A rally will only last when they return to the market.

The CBA-AiG Performance of Services Index fell again in October indicating businesses in Australia are finding it tough going at present.