Investing.com - Here are the top five things you need to know this morning, Monday, November 9:
1. OECD cuts global growth forecast
The Organization for Economic Cooperation and Development cut its global economic growth forecast to 2.9% in 2015 and 3.3% in 2016, down from the 3.0% and 3.6% predicted in September.
"Global growth prospects have clouded this year," the Paris-based organization said in its semi-annual report published Monday. "The outlook for emerging-market economies is a key source of global uncertainty at present."
2. U.S. dollar pulls back but holds near 7-month peak
The dollar pulled back on Monday but held near seven-month highs against the other major currencies as data showing the U.S. economy created more jobs than expected in October bolstered expectations for a rate hike next month.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, slid 0.2% to 99.09, off Friday’s highs of 99.29, the highest level since mid-April.
3. China trade data disappoints
Data released Sunday revealed that Chinese exports slumped 6.9% from a year earlier in October, worse than forecasts for a decline of 3.0%, while imports plunged 18.8%, compared to expectations for a drop of 16.0%.
That left China with a record-high trade surplus of $61.6 billion last month, up from $60.3 billion in September.
The disappointing data reinforced the view that the economy remains in the midst of a gradual slowdown which will require policymakers in Beijing to roll out more measures to boost growth in coming months.
4. Global stocks mixed with China, Fed in focus
Shares in Japan and China kicked off the week with strong gains, lifted by a weaker yen and ongoing hopes for more stimulus.
In Europe, equity markets started the week in the red as downbeat trade data from China dampened the mood.
Meanwhile, U.S. stock futures were down 0.3%, suggesting a weaker opening on Wall Street later in the day.
5. U.S. earnings season begins to wind down
Dean Foods (N:DF), Priceline Group (O:PCLN), DISH Network Corporation (O:DISH), Hertz Global Holdings (N:HTZ) and Sotheby's (N:BID) will report earnings ahead of the opening bell.