Here’s what to look for in the news this week that may factor into where markets move:
- The FOMC holds its October policy meeting on Tuesday and Wednesday. Most do not expect the central bank to change interest rates this month.
- Gold options expire on Wednesday, October 27th, as well. There could be a bit more volatility in gold trading on this particular trading day.
- Third-quarter GDP data will be released on Thursday along with first-time jobless claims. Here’s Business Insider’s rundown of this week’s important economic data.
- Portugal may be facing a constitutional crisis after denying left-wing parties, which won a majority of seats in the country’s parliament in recent elections, the opportunity to form a governing coalition. The rationale is that the Socialist-led, anti-austerity coalition poses a threat to the unity of the Eurozone.
- Due to the splitting of Japan’s Yakuza crime sydnicate into two rival gangs, the organization is cancelling its annual Halloween custom of handing out candy to local children, a tradition that goes back generations.
- China’s leaders will gather to discuss the country’s next 5-year economic plan, its 13th such planned period since the country’s Communist Revolution.
- U.S. sources report that Russian submarines are lurking conspicuously close to important fiber-optic cable lines that run beneath the oceans. There is concern that their intentions may be to cut the lines or to hack into them.
- For the first time since democracy returned to Poland in 1989, one party will hold a majority in its 460-seat parliament as the conservative Law & Justice Party swept into power.
- Duke Energy (NYSE:DUK)—much maligned in here in the Tampa-Saint Peterburg metro area—agrees to a $4.9-billion acquisition of project partner Piedmont Natural Gas (NYSE:PNY).