China’s industrial output, retail sales miss expectations in October
China’s industrial production grew 5% in the month of October compared with a year ago, slowing from an increase of 6.3% seen in September. The latest figure misses estimates of a 5.2% rise predicted in a Reuters poll.
Separately, retail sales in China fell 0.5% in October from a year ago, missing expectations.
Analysts polled by Reuters expected a 1% increase, and retail sales grew 2.5% in September.
— Abigail Ng
CNBC Pro: China is easing its Covid measures. Here’s how market pros are playing it
Which stocks could benefit if China rolls back its zero-Covid policy? Market pros reveal how to play a reopening as China eases some of its virus controls.
Pro subscribers can read more here.
— Zavier Ong
CNBC Pro: Top Morningstar strategist says stocks are undervalued by 15% and shares 6 favorites
With many stocks in a bear market, equities could be undervalued by 15%, according to Morningstar.
The equity research firm’s chief U.S. strategist believes headwinds that were present earlier in the year will start to recede at the start of next year and benefit stocks.
Dave Sekera also shared his “fair value” assessment on six companies with a “wide economic moat” that will outperform in such an economic environment.
— Ganesh Rao
European markets: Here are the opening calls
European markets are set to open in mixed territory on Tuesday.
The U.K.’s FTSE index is expected to open 14 points lower at 7,374, Germany’s DAX down 6 points at 14,312, France’s CAC up 10 points at 6,617 and Italy’s FTSE MIB down 19 points at 24,464, according to data from IG.
Global markets will be watching events at the Group of Twenty summit in Bali, Indonesia, that kicks off on Tuesday.
The IEA’s latest oil market report is set to be released, as are Infineon and Vodafone earnings.
— Holly Ellyatt
Read More: European markets open to close, data and earnings