wiar 11-02-17

Mary FanslauWhat I Am Reading

Nov 02 (Thursday)

Markets
Stock market poised for a ‘melt-up’ as it begins strongest months of the year (C)
Market shrugs off Fed’s ‘bland’ comments on economy as it awaits Yellen replacement (C)
Jack Bogle says Vanguard is getting too big. Now what? (MW)

Central banks
Trump to Tap Fed’s Jerome Powell for Central Bank Chief (W)
What a Jerome Powell-led Fed may look like (MW)
Fed Governor Powell, expected to be the next Fed chair, is watching bitcoin closely (C)
Fed Signals December Hike On Track a Day Before Trump Announces Next Chair (B)

US
The US economy is strong, and it’s about to get even stronger, Atlanta Fed model shows (C)
U.S. Factory-Activity Index Slipped in October, But Still Solid (W)
ADP: U.S. Private Sector Adds 235,000 Jobs in October (W)

Europe
Eurozone growth beats forecasts despite stronger euro (FT)

China
Xi Jinping Summons ‘Red Boat Spirit’ of China’s Communist Revolutionaries (W)

US politics
White House, House Budget Chief Say Tax Bill Still Coming Nov. 2 (B)
Who’s really going to pay for Trump’s big tax cut? (WP)
GOP Tax Plan Won’t Cut Rate for Highest Earners (W)
Repeal of ACA’s Individual Mandate Could Be Part of Tax Overhaul (W)
Trump reportedly demanding tax reform bill be called ‘The Cut Cut Cut Act’ (C)
GOP Goes With the Global Flow: Tax People, Not Companies (W)
History Shows Phasing in Tax Cuts Is a ‘Terrible’ Idea (B)

Geopolitics & terrorism
How China Swallowed the WTO (W)
South Korea Warns Against Attack on North (W)
New Data Shows Russian Ads Targeted Facebook Users by Profile (W)
N.Y. Suspect Followed ISIS Blueprint (W)

Industries & companies
Autos: America’s SUV Thirst Hits Luxury Carmakers With Hidden Hangover (B)
Autos: October Was Apparently Pickup Truck Month in the U.S. (B)
Autos: Tesla Delays Model 3 Goals After Record Cash Burn (B)
FANGs: Facebook Profit Jumps 79% (W)
FANGs: Facebook Tops Sales Projections While Russia Ad Inquiry Unfolds (B)
Pharma: Ballot Measure to Cap Ohio Drug Prices Unleashes Expensive Ad Battle (W)
Pharma: Pharma industry faces hypocrisy charge over patents (FT)
Retail: Gap is selling subscription boxes for kids through Old Navy, after a successful run with baby clothes (C)
Tech: Qualcomm beats earnings expectations amid legal battle with Apple (C)

Cryptocurrency
ICO Craze Spurs Warning: Be Careful of Celebrity Endorsements (B)
One of the Most High-Profile Initial Coin Offerings Has Crashed 50% (B)
Euphoria for Bitcoin Futures Conjures Bad CDO Memories for One Firm (B)

Offbeat
Two Months After Harvey, Houston is Still Counting Costs (W)