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Morning Brief: Amazon reportedly splitting HQ2 between two cities

Tuesday, November 6, 2018

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What to watch today

Tuesday is Election Day in America. All day, Americans will head to the polls to cast their vote in the midterm elections. Data from Nate Silver’s 538 on Monday gave Democrats an 87.5% chance of taking control of the House with Republicans being given a similar 83.2% chance of retaining control of the Senate.

And while polls in the U.S. will not begin closing until well after the market closes, futures markets could be active overnight Tuesday depending on the outcome, with Democrats taking control of both houses of Congress or Republicans retaining control of both houses the outcomes which would likely create the most market volatility. But history suggests that in the months ahead, stocks are likely to be far higher than they are today.

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Top news

REUTERS/Daniel Becerril/File Photo

Amazon to split HQ2 between two cities, WSJ reportsAmazon (AMZN) is said to be splitting its second headquarters between two cities rather than selecting one location, the Wall Street Journal reported Monday, citing an unnamed person familiar with the matter. [Yahoo Finance]

Lowe’s closing 51 stores shows its new CEO has learned one valuable lesson: New Lowe’s LOW) CEO Marvin Ellison looks to have learned one valuable lesson to being the top person at a retail company in 2018. That is investors want to see closures of underperforming physical stores in the age of digital shopping on Amazon, and will reward you with a higher stock price pretty quickly for pulling the trigger. Lowe’s said Monday it will shutter 51 lagging stores, including 20 in the U.S. and 31 in Canada. [Yahoo Finance]

No more strip clubs on Under Armour’s dime: Under Armour Inc. (UA) employees received an email earlier this year that upended a longstanding company practice: They could no longer charge visits to strip clubs on their corporate cards. [The Wall Street Journal]

How the midterms will affect your money: There are three possible outcomes in the upcoming midterm elections: Republicans retain control of both houses of Congress, Democrats take control of one chamber, or Democrats win big and seize control of both the House of Representatives and the Senate. Here’s the outlook for six pocketbook issues – including infrastructure spending, health care, drug prices, and tax cuts – plus the controversial investigation of special counsel Robert Mueller. [Yahoo Finance]

Apple’s Asia suppliers fall on iPhone XR reportApple Inc.’s (AAPL) Asian supplier and assembler stocks fell on Tuesday on a media report that the iPhone maker had told its smartphone assemblers to halt plans for additional production lines dedicated to its new iPhone XR. [Reuters]

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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.