“Be who you are and say what you feel, because those who mind don’t matter and those who matter don’t mind.” — Bernard Baruch

1. Forex Manipulation Probes at JPM Trader — WSJ the U.K. – in its investigation of the potential manipulation of currency markets – is looking at the activities of former RBS (RBS) trader Richard Usher, who now works for JP Morgan (JPM).
2. Regeneron (REGN) drug slashes cholesterol in late-stage trial — Reuters, a new type of cholesterol drug being developed by Regeneron Pharmaceuticals Inc (REGN) and Sanofi SA, when used by itself, cut levels of “bad” LDL cholesterol almost in half in the first of a dozen late-stage trials of the injectable medicine. Regeneron and Sanofi’s treatment, called Alirocumab, is part of a new class of injectable cholesterol medicines that block a protein called PCSK9. Analysts suggested drugs could each generate sales of $3B or more.
3. Congress Agreed to end Government Shutdown — Congress approved a deal to finance the U.S. government until January 15 and raise the debt limit so that the country can continue to increase its borrowing until February 7.
4. Stock Market Back to Overbought — from BIG, just from this time last week, the S&P 500 and all ten sectors closed out the day in overbought territory. Sectors such as Energy, Financials and Health Care at extreme over-bought levels (>2 standard deviations above the 50-day moving average).

5. Latest AAII Bullish Sentiment — the lastest report from AAII shows investors have been growing increasingly bullish. Over the last week, bullish sentiment increased from 41.33% to 46.28%. This is the third straight week where bullish sentiment increased.

6. China’s GDP growth accelerates to 7.8% — China’s economy expanded at its fastest rate this year in Q3, rising 7.8% vs 7.5% in Q2. The growth reflected a “mini fiscal stimulus” that included railway spending and tax cuts.

The week ahead — Economic data from Econoday.com: