wiar 11-13-18

Mary FanslauWhat I Am Reading

November 13 (Tuesday)

Dow plunges 600 points as Apple leads tech rout (C)
The reasons to be bearish on the stock market now are swamping the bull case (C)
Don’t blame Monday’s market rout entirely on Apple. Global growth and the Fed are issues (C)
Goldman’s ‘bear market risk indicator’ signals returns will be zero the next 12 months (C)
There’s something behind this market sell-off that no one is talking about: The strong dollar (C)

Trump warns OPEC against cutting oil production: ‘Prices should be much lower based on supply’ (C)
Oil Market Reliance on U.S. Shale Potential Is Risky, IEA Says (B)
Gas to overtake coal as world’s second largest energy source by 2030: IEA (R)
China Is Expected to Become World’s Biggest Natural Gas Buyer by 2040 (B)

The Truth About Poverty In America (IBD)

China’s Government Has More Room to Leverage Up as Growth Slows (B)
Trade war and censors blow chill wind through China’s giant tech scene (R)

US politics
Democrat Sinema Wins Arizona U.S. Senate Seat Long Held by GOP (B)
Russian Hackers Largely Skipped the Midterms, and No One Knows Why (W)

Geopolitics & trade
Mnuchin and top Chinese official are reportedly talking trade ahead of Trump-Xi meeting (C)
White House to consider Commerce Department auto tariff recommendations: officials (C)
Tariffs are having a negative impact for only about 9 percent of companies, earnings calls show (C)

Industries & companies
FANGs: Apple Shares Sink After iPhone Suppliers Lower Outlooks (W)
Financials: Goldman Sachs Tumbles on 1MDB Scandal and ‘Fear of the Unknown’ (B)
Industrials: GE Shares Fall Again, Hit New Low (W)
Retail: Macy’s Radical Plan to Save Itself: Shrink (W)

Corporate finance
Palantir Has a $20 Billion Valuation and a Bigger Problem: It Keeps Losing Money (W)
SoftBank Targets $20 Billion IPO for Japanese Mobile Unit (W)

Robots Are Coming for Europe’s Jobs (B)

Steve Ballmer Needed a 10-K for the U.S. So He Made One. (W)
Photos show California’s devastating wildfires raging in Malibu and Butte County (C)