US Presidential Election, Wall Street Pulls an All-Nighter [3-Minute Brief]

[At a Glance]
①Democratic Party Decides to Abolish Financial Investment Tax "Investors Must Be Considered"
②October Exports Hit Record High, Why the Market Is Worried
③Hyundai Motor Achieves Highest Ever October Sales in US Market

MARKET INDEX

○ US New York Stock Exchange's three major indices all closed lower
○ Caution spreads amid uncertainty one day before the US presidential election
○ Expect sequential digestion of the presidential election and FOMC

TOP 3 NEWS

■ Harris or Trump trade... Wall Street predicts 'overnight work'

○ Wall Street prepares for extreme volatility
○ Major investment banks deploy additional personnel
○ "UK traders will also monitor the market"

■ Democratic Party decides to abolish capital gains tax on financial investments… Lee Jae-myung says "Consider 15 million investors"

○ Lee Jae-myung: "Government and ruling party use capital gains tax as a political issue"
○ Han Dong-hoon: "Welcome Democratic Party's decision… politics is working"
○ Both ruling and opposition parties agree on the need to improve stock market structure

■ October exports hit record high… why is the market worried about exports?

○ October exports reached an all-time high, but daily average exports decreased for the first time in 13 months
○ Except for some items, overall stagnation or sluggishness
○ Increasing external uncertainties and expected decline in economic growth rate

the Chart : Hyundai Motor achieves highest-ever sales in the US for October

○ The sales growth was driven by hybrid vehicles (HEV)
○ October hybrid sales: Hyundai up 74%, Kia up 52%
○ Santafe HEV·Tucson HEV·Carnival HEV and others popular

Money-Making Law

■ HD Hyundai Heavy and Hanwha Ocean compete for orders… Poland secretly smiles aiming for technology

○ Next-generation submarine project worth over 3 trillion KRW
○ Second round of overseas orders following domestic
○ Concerns over national interest damage such as technology leakage
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024110412205445754

■ Jeju Air's deposit of 14 billion KRW… Eastar Jet must return due to 'contract breach'

○ Eastar Holdings ordered to compensate Jeju Air 14 billion KRW
○ Lawsuit ruling on refund of deposit due to failed M&A
○ Supreme Court confirms no problem with appellate court ruling
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024110412221348986

■ Building expertise and work-life balance, Women's and Children's Crime Investigation Department is now "line up, line~"

○ Women's and Children's Crime Investigation Department becoming popular among prosecutors
○ Increasing preference comparable to special investigation units due to recognized expertise
○ "Build professional career while maintaining work-life balance"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024110412243453892

※ 'Money-Making Law', a content partnership corner between Asia Economy and Law Times, is published every Tuesday and Thursday.

Issue in the News: 'Onagawa Nuclear Power Plant' restarted after 13 years since the Great East Japan Earthquake

○ Due to the aftermath of the 2011 Great East Japan Earthquake
○ Shutdown of the nuclear power plant due to leakage accident
○ Onagawa Nuclear Power Plant restarted after 13 years

Today's Key Schedule

○Domestic

06:00 October Foreign Exchange Reserves

08:00 October Consumer Price Index

5th KOSDAQ HM Pharma listing, public offering price 23,000 KRW

5th KOSDAQ Nomers subscription, public offering price 30,200 KRW

5th KOSDAQ Dotmill subscription, public offering price 13,000 KRW

5th KOSDAQ Three Billion subscription, public offering price 4,500 KRW

5th KOSDAQ Shinhan No.5 SPAC subscription, expected public offering price 2,000 KRW

Seoul VIORP (Bioru)

Gyeonggi Uiwang Gocheon District Dietre Central (B1)

Gyeonggi Deokgye Station Hanshin The Hue Forest

Chungnam The Sharp Tangjeong Infinity City Phase 3 (A2)

○Overseas

00:00 US September Factory Orders

03:00 US 3-year Treasury Auction

09:01 UK October Retail Sales Status

12:30 Australia November Interest Rate Decision

18:30 UK October Composite Purchasing Managers' Index

22:30 US September Trade Balance

22:30 Canada September Trade Balance

23:30 Lagarde, President of the European Central Bank, Speech

23:45 US October Services Purchasing Managers' Index

◇ Lunch & Commute Weather

○ Lowest temperature 5℃(▼10℃) ｜Highest temperature: 14℃(▼9℃)
○ Precipitation probability morning 20%｜afternoon 10%
○ Fine dust morning good｜afternoon good

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.