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Aside from PMIs, it is a fairly quiet end to the week on the data front. University of Michigan consumer sentiment and Kansas City Fed Manufacturing are both published later this morning, and there are no monetary policy speakers scheduled for today. Foot Locker Inc. and JM Smucker Co. are among the last companies reporting earnings this quarter.  (Bloomberg)

 

Entering into the most profitable corner of the U.S. auto market, Tesla has unveiled its all-electric pickup called Cybertruck. The futuristic, trapezoid-shaped vehicle will start at a competitive $39,900 - with 7,500 pounds of towing capacity and 250 miles of range per charge. Dual motor and tri-motor models extend towing capacity to 10K and 14K pounds, as well as a 300 and 500 mile range. Expected to arrive in late 2021 and 2022, the pickups also feature a cargo bed that can hold and charge an electric ATV. (SA)

 

Xerox has given HP an ultimatum in its effort to acquire the PC and printer maker, threatening to turn its bid into a hostile one unless the company agrees by next week to pursue a “friendly combination”.  HP turned down the $22-a-share bid last weekend, saying it “significantly undervalues” the company, and asked for more information about Xerox’s business prospects. HP left the door open to “a potential combination” of the two companies.  Xerox launched its unsolicited bid on November 5, a month after HP announced its intention to cut jobs under a turn-around plan. HP’s shares were down 4 per cent year-to-date as of Thursday. Xerox has gained more than 95 per cent. (FT)

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.

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