wiar 10-17-18

Mary FanslauWhat I Am Reading

October 17 (Wednesday)

Markets
Dow jumps more than 500 points, posts best day since March as earnings fuel rally (C)
China Treasury holdings at their lowest in 14 months (C)
U.S. to Blame for Weaker China Currency (C)
U.S. Tax Changes Hit Global Investment Flows (W)

Central banks
San Francisco Fed’s Daly Favors Gradual Hikes in First Speech (B)
Trump says Fed is his ‘biggest threat’ because it is raising rates too fast (C)
Cramer: As long as the Fed doesn’t keep pushing rate hikes, stocks can keep rallying (C)

US
U.S. Job Openings Topped 7 Million for the First Time (W)
U.S. Manufacturing Capacity Increases for 16th Month in a Row (W)
U.S. Deficit Swells in Fiscal 2018 as Tax Cuts Take Bite (W)

Europe
Macron, Under Pressure, Walks Tight Line With Appointments (W)

Emerging
Chinese Consumers Feel More Pain Than Official Data Suggest (W)
Inflation Stalking Russia Adds to ‘Hopelessness’ Among Consumers (B)

US politics
Trump says he’s not to blame if Republicans lose the House in midterms (C)

Geopolitics & trade
Trump slams mounting criticism of Saudi Arabia as a case of ‘guilty until proven innocent’ (C)
Suspects in journalist’s disappearance had close ties to Saudi prince: NYT (C)
Here Come the Trade War Price Hikes (B)

Industries & companies
FANGs: Netflix surges after crushing earnings (C)
FANGs: Advertisers Allege Facebook Failed to Disclose Key Metric Error for More Than a Year (W)
Financials: Five Key Takeaways From the Biggest U.S. Banks’ Earnings Reports (B)
Financials: Big Bank Earnings Show Wall Street Charging Ahead (W)
Financials: Bank of America CEO Moynihan says he cut jobs equal to the workforce of Delta Air Lines (C)
Pharma: Patents Used to Keep Humira Copies Out of U.S. (W)
Tech: IBM falls after revenue misses (C)

Corporate finance
Uber Eyes Valuation of $120 Billion for Possible 2019 IPO (W)

Offbeat
The Real Cost of College Is Flattening as Schools Give More Scholarships (W)