Stocks have good start to November Stocks began the first trading session of November with a rebound from last week's losses and the declines seen in October, but lost some steam as the day progressed. Expansionary manufacturing PMIs from China, Europe and the U.S. gave a boost to markets, though investors appeared to get more hesitant as the afternoon wore on and attention turned back toward tomorrow's presidential election. ECONOMIC EVENTS: In the U.S., Markit's PMI inched up to 53.4 in the final print for October, versus the 53.3 preliminary reading. Meanwhile, the ISM manufacturing index popped 3.9 points to 59.3 in October, which was much stronger than expected. Construction spending rose 0.3% in September. Data from the Johns Hopkins Whiting School of Engineering shows there are now 46.6M confirmed cases of COVID-19 worldwide, including 9.21M in the U.S., and 1.2M deaths due to the disease, including about 231,000NL in the U.S. TOP NEWS: Shares of Dunkin' Brands ($DNKN) rose 6.5% after the parent company of Dunkin' and Baskin-Robbins confirmed over the weekend that it has agreed to be acquired by restaurant brand operator Inspire Brands for $106.50 per share in cash in a transaction valued at approximately $11.3B including the assumption of debt. In other M&A news, Nielsen Holdings ($NLSN) announced that it has signed a definitive agreement under which affiliates of Advent International, in partnership with James Peck, former CEO of TransUnion, will acquire the Nielsen Global Connect business for $2.7B. Nielsen said it believes the sale "will deliver substantial value to our shareholders sooner than was anticipated through the planned spin-off and create more certainty for all stakeholders." Nielsen shares jumped 3.8% after the company also reported earnings this morning. Coupa Software ($COUP) shares fell 7.6% after the company announced that it has acquired LLamasoft, which it calls "a leader in AI-powered supply chain design and planning," for a purchase price of approximately $1.5B. "The acquisition will strengthen Coupa's supply chain capabilities, enabling businesses to drive greater value through Business Spend Management," Coupa said. In terms of earnings, Clorox ($CLX) shares closed 4% higher after the company "delivered another quarter of outstanding results to have a strong start to the fiscal year," according to CEO Linda Rendle. The cleaning products maker also raised its fiscal year outlook to reflect strong first-quarter sales results as well as the expectation for double-digit sales growth in the second quarter. Additionally, the company said on its quarterly call that it is back in the market of buying its own shares and will consider M&A going forward. Meanwhile, Apple ($AAPL) announced in an invite sent to multiple media outlets that it will host an event on November 10, during which the company is expected to unveil new Macs, according to reports. The company said the event, which includes the tagline "One More Thing," will begin at 10:00 am PT and will be livestreamed on the tech giant's website. MAJOR MOVERS: Among the noteworthy gainers was Endurance ($EIGI), which surged 62% after it reported quarterly results and agreed to be acquired by Clearlake for $9.50 per share. Also higher after reporting quarterly results was Camping World ($CWH), which gained 3.1%. Among the notable losers was VirnetX ($VHC), which declined 9% after the company confirmed it was awarded $502.8M by a jury in a court dispute with Apple. Also lower was Tenneco ($TEN), which fell 14.4% after reporting quarterly results. INDEXES: The Dow rose 423.45, or 1.60%, to 26,925.05, the Nasdaq gained 46.02, or 0.42%, to 10,957.61, and the S&P 500 advanced 40.28, or 1.23%, to 3,310.24. Reviewing Monday's economic data:The ISM Manufacturing Index for October checked in at 59.3% (Briefing.com consensus 55.7%), which is an improvement from 55.4% in September and the highest level since September 2018. The dividing line between expansion and contraction is 50.0%.The key takeaway from the report is the understanding that the New Orders Index hit its highest level (67.9%) since January 2004, signaling that the recovery in the manufacturing sector is running at a fast pace still despite the lack of a new stimulus package, the election uncertainty, and the new wave of coronavirus cases in the U.S. and Europe.Total construction spending increased 0.3% m/m in September (Briefing.com consensus +0.9%) on the heels of a downwardly revised 0.8% increase (from +1.4%) in August. Total private construction spending rose 0.9% m/m and total public construction spending declined 1.7%.The key takeaway from the report is that residential construction spending is healthy and the main driver behind total construction spending increasing 1.5% year-over-year.Looking ahead, investors will receive Factory Orders for September and auto and truck sales for October on Tuesday.Nasdaq Composite +22.1% YTDS&P 500 +2.5% YTDDow Jones Industrial Average -5.7% YTDRussell 2000 -6.0% YTDMarket SnapshotDow26924.99+423.45(1.60%)Nasdaq10957.54+46.02(0.42%)SP 5003310.24+40.28(1.23%)10-yr Note +3/320.852NYSEAdv 2229 Dec 789 Vol 890.1 mlnNasdaqAdv 2301 Dec 1125 Vol 3.2 blnIndustry WatchStrong: Energy, Materials, Industrials, Financials, Real EstateWeak: Consumer Discretionary, Information Technology, Communication ServicesMoving the Market-- Cyclical/value stocks set the rebound pace in buy-the-dip trade, mega-cap stocks underperformed -- ISM Manufacturing Index for October increased to 59.3% (Briefing.com consensus 55.7%) from 55.4% in September.-- Wait-and-see for presidential election Source: (Briefing.com)(theFly.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. 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