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 Good morning! Here are the major stories you need to hear about before US markets open. Japan Delays Tax Hike And Calls For A Snap Election. "Prime Minister Shinzo Abe has told reporters he will delay Japan's scheduled consumption tax hike and dissolve the Lower House on Friday for a snap election," NHK World reports. "This comes in the wake of data that shows GDP has contracted 2 quarters in a row." From Bloomberg: "He'll probably pick Dec. 14 for the election, according to people with knowledge of the ruling party's strategy"
Japan Surges. The Nikkei index jumped 2.2% in the wake of the news. The yen fell to as low as 117.05 per dollar.
World Markets Rally. In Europe, Britain's FTSE 100 is up 0.4%, France's CAC 40 is up 0.7%, and Germany's DAX is up 1.2%. US futures are flat.
US Inflation Data Is Coming. The producer price index report gets released at 8:30 a.m. ET. Economists estimate PPI fell 0.1% in October, but climbed 0.1% excluding food and energy. On a year-over-year basis, prices are forecast to climb 1.2% and 1.5%, respectively. The US Senate Is Heading For A Vote On The Keystone Pipeline. "Backers of the Keystone XL oil pipeline hope a vote in the U.S. Senate late on Tuesday will send a bill to the desk of President Barack Obama," Reuters' Timothy Gardner and Richard Cowan report "Backers of the bill in the 100-seat Senate need 60 votes to prevent a filibuster by opponents. A companion bill easily passed the House of Representatives on Friday." Chinese House Prices Dropped For A Second Month. Chinese property prices dropped by the steepest amount in October since the current data series began three years ago, the FT reports. UK Inflation Tick Up. Prices climbed by 1.3% in October, which was right in line with expectations, but up from 1.2% in September. The core figure, which strips out the most volatile prices, like food and tobacco, came in slightly higher at 1.5%. German Investor Confidence Booms. Germany's ZEW index, which measures investor sentiment, jumped to 11.5 in November from -3.6 in October. This was much stronger than the 0.5 level expected by economists. European Carmakers Had The Best October For Five Years. Sales are up 6.5% on the same month last year in Europe, despite poor economic performance generally, according to the FT. Traders Aren't Using The Hong Kong-Shanghai Stocks Link Much. Investors largely turned away from the link-up between the Hong Kong and Shanghai stock exchanges on Tuesday, a day after it launched to much fanfare and ambitions for billions of dollars in daily cross-border transactions. | 
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