Amazon, Warren Buffett and 'Bohemian Rhapsody' - 5 Things You Must Know

Here are five things you must know for Monday, Nov. 5:

1. -- Stock Futures Suggest a Weak Start for Wall Street

U.S. stock futures pointed to a lower open for Wall Street on Monday, Nov. 5, as stronger-than-expected U.S. jobs data reignited bets on faster Federal Reserve rate hikes and as investors looked ahead to the midterm elections on Tuesday, Nov. 6, that could change the composition - and direction - of Congress for at least the next two years.

With the U.S. economy adding 250,000 new jobs in October, and wages rising at the fastest pace in nearly a decade, investors now expect a full compliment of rate hikes from the Fed as it plots its path toward "neutral" in the months ahead. The Federal Reserve's monetary policymaking arm - the Federal Open Market Committee - is scheduled to meet on Wednesday, Nov. 7. While the Fed isn't expected to lift rates at the meeting, it is expected to do so at its meeting next month.

As for the elections, many prognosticators predict the House of Representatives will flip to the Democrats while Republicans will remain with a majority in the Senate. Both President Donald Trump and former Democratic President Barack Obama hit the stump this weekend in an effort to energize voters in the final hours of a bruising campaign, with Obama focusing on healthcare and Trump on the strength of the economy.

Contracts tied to the Dow Jones Industrial Average declined 101 points, futures for the S&P 500 slipped 1.55 points, and Nasdaq futures were down 20.75 points.

The economic calendar in the U.S. on Monday includes the ISM Non-Manufacturing Index for October at 10 a.m. ET.

2. -- WestRock and SeaWorld Highlight Monday's Earnings Calendar

Earnings reports are expected Monday from WestRock Co. (WRK) , Rent-A-Center Inc. (RCII) , Avis Budget Group Inc. (CAR) , Occidental Petroleum Corp. (OXY) , Tenet Healthcare Corp. (THC) , Marriott International Inc. (MAR) and Mylan NV (MYL) . 

SeaWorld Entertainment Inc. (SEAS)  posted third-quarter earnings on Monday of $1.10 a share, beating forecasts by 2 cents. Revenue was $483.2 million vs. estimates of f $472.1 million. SeaWorld said third-quarter attendance at its parks rose 9.7%.

WestRock is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells WRK? Learn more now.

3. -- Amazon Reportedly in Advanced Talks on Opening HQ2 in Crystal City, Va.

Amazon.com Inc. (AMZN) has held advanced discussions about the possibility of opening its second headquarters in Crystal City, Virginia, The Washington Post reported.

Discussions have included how quickly the online retailer would move employees there, which buildings it would occupy and how an announcement about the move would be made to the public, the Post reported, citing people close to the process. The discussions were more detailed than those the company has had regarding other locations in Northern Virginia and some other cities nationally, according to the newspaper.

The Wall Street Journal, however, reported, that late-stage talks on Amazon's second headquarters were being held with a small handful of communities including Crystal City, Dallas and New York City. The Journal cited people familiar with the matter.

Separately, Amazon has dropped the minimum amount shoppers need to spend to qualify for free shipping. Amazon shoppers usually have to spend $25 to qualify for free shipping. Amazon's offer started on Monday for orders that will arrive in time for Christmas.

The stock fell 0.54% in premarket trading on Monday.

Amazon is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.

4. -- Berkshire Hathaway's Operating Profit Doubles in Third Quarter

Warren Buffett's Berkshire Hathaway Inc. (BRK.A)  reported that its third-quarter profit more than quadrupled to $18.54 billion because of a $11.5 billion gain in the value of its investments.

Operating earnings, a measure preferred by Buffett, were $6.88 billion in the third quarter, up from $3.44 billion a year earlier.

Berkshire Hathaway also bought back $928 million in stock during the quarter - the first time in several years the company has repurchased shares.

The company's insurance unit, which includes Geico and several large reinsurance firms, reported an underwriting profit of $441 million, a reversal from a year-earlier loss of $1.4 billion that occurred because of costs related to hurricanes, and earthquakes in Mexico.

5. -- 'Bohemian Rhapsody' Rakes in $50 Million in Its Debut

"Bohemian Rhapsody," the biopic of late Queen frontman Freddie Mercury, debuted with $50 million in weekend ticket sales in U.S. and Canada, and another $72.5 million internationally, according to studio estimates Sunday, the Associated Press reported. Expectations had put sales at $35 million to $40 million in its opening weekend.

The movie was produced by the 20th Century Fox studio, which is owned by Twenty-First Century Fox Inc. (FOXA) .

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