Wednesday, 6 November 2024
TO: Mighty Memo Readers
FROM: Mighty Memo Editorial Department
SUBJECT: US ELECTION SPECIAL
This morning’s Mighty Memo is our US Election Special. We have included the preliminary results from the Presidential election and also focused on the US in our news stories, weather and life coaching quote. We hope you this special edition informative and if you have any feedback on this edition or any other element of the Mighty Memo, please contact us at hello@mightymemo.co.uk.
Wednesday, 6th November 2024 – www.mightymemo.co.uk
The Mighty Headlines
· Economics: US services growth at two-year high
· Business: Boeing ends strike with 38 per cent pay offer
· Markets: US stock markets rise and Nvidia joins the Dow Jones
· Foreign Affairs: Netflix’s European offices raided by prosecutors on tax fraud charges
· Security and intelligence: US polling station bomb hoax potentially from Russia
· Domestic politics: UK Government stresses “really good” working relationship with Trump
The Mighty Stats
· FTSE = 8,172.39 (down 0.14 per cent at Tuesday close)
· S&P500 = 5,782.76 (up 1.23 per cent at Tuesday close)
· Nasdaq = 18,439.17 (up 1.43 per cent at Tuesday close)
· CAC40 = 7,407.15 (up 0.48 per cent at Tuesday close)
· £1 = $1.30 / €1.19
· US swing states results Trump / Harris
*At the time of writing, Donald Trump has received 266 Electoral College votes. Kamala Harris has received 194 Electoral College votes. 270 are need to win the Presidency.*
Michigan: 52.5 / 45.7 (77.3 per cent of votes counted)
Pennsylvania: 50.8 / 48.1 (95.1 per cent of votes counted)
Wisconsin: 51.2 / 47.2 (92.1 per cent of votes counted)
Arizona: 50.4 / 48.8 (53.9 per cent of votes counted)
N. Carolina: 51 / 47.7 (97.1 per cent of votes counted)
Georgia: 50.7 / 48.5 (98.9 per cent of votes counted)
Nevada: 51.5 / 46.9 (75.7 per cent of votes counted)
*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*
The Mighty Detail
Economics: Growth in the United States services sector increased to a two-year high in October. The services sector purchasing managers index – which tracks growth in the services sector – reached 56 last month. Any number above 50 indicates growth and this is the highest figure since July 2022.
Business: Striking workers at Boeing have accepted a pay offer that puts an end to a 7-week strike. The deal includes a 38 per cent pay rise over four years and a one-off payment of $12,000. Around 30,000 workers have been on strike at Boeing since the 13th September.
Markets: The US stock markets rose yesterday as traders awaited the results of the US Presidential election. The Nasdaq and S&P 500 both rose by over 1 per cent. Separately, it was announced that chipmaker Nvidia would enter the Dow Jones Industrial Average stock index, replacing technology company Intel.
Foreign Affairs: Netflix’s European offices were raided by prosecutors in France and the Netherlands yesterday morning. The French Financial Prosecutor’s Office said the raid was part of an investigation into alleged tax fraud, money laundering and undeclared work.
Security and intelligence: Hoax bomb threats, purported to come from Russia, were sent to polling stations in three swing states yesterday. The FBI said that the hoax, which focused on polling stations in Georgia, Michigan and Wisconsin, appeared to have come from Russian email domains.
Domestic politics: The UK Health Secretary, Wes Streeting, stressed yesterday that the UK Government would have a “really good working relationship” with Donald Trump were he elected President. Last month, the Trump campaign had accused the Labour Party of interfering in the US election.
The Mighty Calendar
What’s happening today?
o Russian Foreign Minister visits Kazakhstan
o European Commission President hosts French Prime Minister
o Prime Minister’s Questions in UK Parliament
o Prince William attends Earthshot Prize ceremony in South Africa
o Eurozone PPI inflation data (September)
o China, Australia trade data (September)
o UK construction growth data (October)
o France, Germany, Italy, Spain services growth data (October)
o Company results from: Novo Nordisk, Credit Agricole, Commerzbank, Lyft, BMW, Persimmon
Lookahead to tomorrow
o Sir Keir Starmer attends European Political Community summit in Hungary
o King Charles hosts reception for Olympic and Paralympic athletes
o Environment Questions in UK Parliament
o United States Federal Reserve interest rate decision
o Bank of England interest rate decision
o UK house price data (October)
o Germany trade data (September)
o Germany industrial production data (September)
o Italy, Germany construction growth data (October)
o Eurozone retail sales data (September)
o United States jobless claims (weekly)
o Company results from: Sainsbury’s, BT Group, National Grid, Expedia, Taylor Wimpey, ArcelorMittal, Air France
The Mighty Finale
🌤️Weather today
Sunny in Washington D.C., with a high of 28oC and low of 18oC. Cloudy and dry in London, Belfast and Edinburgh. High of 14oC and low of 10oC in London.
✏️Life coaching quote of the day
“No man needs sympathy because he has to work, because he has a burden to carry. Far and away the best prize that life offers is the chance to work hard at work worth doing.” – Theodore Roosevelt, United States President
Mighty takeaway: What activity is meaningful to you? Find that out and then do it.
That’s it for this morning. Thanks for reading and we’ll see you again soon.
Bye!
The Mighty Memo team