Chaos in Spain; EU summit; China GDP

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Source:   —  October 19, 2017, at 5:48 AM

one. Chaos in Spain: Another major dose of political uncertainty has unnerved investors in Spain.

Chaos in Spain; EU summit; China GDP

one. Chaos in Spain: Another major dose of political uncertainty has unnerved investors in Spain.

The central government in Madrid said Thursday that it'll move to impose direct regulation on the wealthy region of Catalonia, which has been considering whether to declare independence.

It'south the latest in a series of confrontations to result from a controversial independence referendum held earlier this mo in the restive region.

Catalan President Carles Puigdemont says he'll formally crack with Spain if the central government refuses to be engaged in in talks.

The benchmark Spanish stock index was roughly one percent lower. The euro was volatile.

two. Brexit crunch time: European Union leaders are expected to discuss Iran, N Korea and Brexit at a summit in Brussels.

British Prime Minister Theresa May will attempt to thrust for progress in Brexit negotiations. The talks have deadlocked and the clock is ticking -- the U. K. is set to leave the EU in March two thousand nineteen.

Businesses and economists have warned that crashing out of the bloc would've grave consequences for Britain'south economy.

three. China slows: The world'south second largest economy grew six.8 percent in the third quarter compared with the same period in two thousand-sixteenth, according to official data.

That'south slightly lower growth than the 6.9 percent it posted in the first two quarters of two thousand seventeen.

China'south target for annual economic growth this year is 6.five percent or higher, so the country is comfortably on track to meet that.

four. Global market overview: U. S. stock futures were lower.

European markets opened in negative territory, while Asian markets ended their session mixed.

The Dow Jones industrial average closed over 23.000 for the first time on Wednesday, gaining 0.seven%.

The S&P five hundred added 0.1 percent and the Nasdaq was flat.

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5. Stock market movers: Adobe (ADBE) shares were higher in extended trading as investors cheered the company'south optimistic outlook.

eBay (EBAY) shares were pointed lower after issuing an outlook that failed to meet expectations.

Nestle (NSRGF) shares, which trade in Switzerland, were lower after the company reported its quarterly earnings.

6. Earnings: Blackstone (BX), Philip Morris (PM) and Verizon (VZ, Tech30) will release earnings before the open, while Del Taco (TACO), E*TRADE (ETFC) and PayPal (PYPL, Tech30) will chase after the closing bell.

Download CNN MoneyStream for up-to-the-minute market data and news

7. Coming this week:

Thursday -- thirtieth anniversary of Black Monday; Deadline for pitches for Amazon (AMZN, Tech30) HQ2 location
Friday -- Earnings from Common Electric and Procter & Gamble.

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