wiar 10-27-18

Mary FanslauWhat I Am Reading

October 27 (Saturday)

Markets
Dow dives nearly 300 points, S&P 500 dips into correction levels in another wild day on Wall Street (C)
Stocks Slump on Tech Worries (W)
Weak Amazon, Alphabet results ignite growth worries (R)
Opinion: Why the Dow Jones Industrial Average should be higher in six months (MW)
Stocks are cheap and should rally 15% to 20%: Guggenheim’s Scott Minerd (C)
El-Erian on global market sell-off: ‘I don’t think the party is over’ (C)

Currencies & commodities
China Puts Yuan Skeptics on Notice as Currency Nears Decade Low (W)
The rising dollar is a major reason for this stock sell-off, and it’s only getting worse (C)
US crude tumbles 12% from high as oil bulls retreat (C)

Central banks
Fed’s Mester: Rate hikes are based on data not preconceived notions on where they should be (C)
Soothing words from Fed as rate hits ceiling for first time (R)
Volcker Sees Fed Rate Increases as Key to Stable Growth (W)

US
GDP Grows 3.5% on Consumer Vigor but Investment Slows (W)
The Federal Reserve’s favorite inflation indicator says it is under control (C)
Getting to the core of rising inflation (C)
Are Price Increases Painting Companies Into a Corner? (W)
U.S. Consumer Sentiment Ticked Down at the End of October (W)
Nobel Prize winner Robert Shiller: I don’t expect a sharp turn in the housing market (C)

US politics
Trump to go on eight-state blitz ahead of Election Day (R)
The Republican Party’s hold on the Senate looks pretty solid less than two weeks until Election Day (C)

Geopolitics & trade
Mexico offers plan to keep U.S.-bound migrants in Mexico (R)
Hog industry worldwide getting slaughtered in trade war (R)

Industries & companies
Autos: The FBI is reviewing Tesla’s Model 3 production numbers as part of a criminal probe: WSJ (C)
Autos: Tesla says has not received subpoena on Model 3 production (R)
FANGs: Apple May Lean on iPhone XR to Juice Sales (W)
FANGs: Here’s what every major analyst had to say about Amazon’s plunge: ‘Wait for the dust to settle’ (C)
Tech: Microsoft overtakes Amazon as second-largest company by market value (C)
Tech: Microsoft Defends Its Bid on U.S. Military Contract (W)

Corporate finance
Fortnite Creator Epic Games Valued at Nearly $15 Billion (W)

Offbeat
Fingerprint leads to federal charges against Florida man Sayoc for bombs sent Obama, Clinton, others (C)
Some 43% of College Grads Are Underemployed in First Job (W)