Financial Markets and Economy
Finance leaders issue fresh warnings amid Deutsche worries, pound rout (Reuters)
World finance leaders issued fresh warnings about economic stability risks on Friday amid worries about a massive U.S. fine for Deutsche Bank destabilizing Germany's largest bank, a sharp fall in the British pound and weak global growth.
US Dollar Normalization Is An Opportunity (Valueplays, Value Walk)
US Dollar Normalization Is An Opportunity by Todd Sullivan
“Davidson” submits:
It seems paradoxical that the consistently strongest global economy can see its currency weaken over decades, but strengthen during shorter periods of global financial and geopolitical stress.
US Labor Outlook: Possible Sharp Downturn in 2017 (Financial Sense)
Here is how I view employment: When margins get squeezed and sales slow, one of the first ways businesses respond is by slowing down temp hiring. Then, as trends continue to worsen, businesses start to let go of their temp employees altogether while cutting hours on their full-time staff.
U.S. fine on Deutsche Bank too big, damaging to stability – Dijsselbloem (Reuters)
The fine proposed by the United States for Deutsche Bank is too big and undermines financial stability by pulling out capital from an institution that is trying to recapitalise and restructure, the chairman of euro zone finance ministers said.
US Hedge Funds Hold $2.2 Trillion In AUM; 3,170 HFs managers and 3,209 active institutional investors located in US (Value Walk)
The US is the dominant component of the global hedge fund community, accounting for 72% of the approximately $3.1tn of global assets under management (AUM), as of 30th June 2016.
Fed Running Out of Excuses to Avoid Rate Hike, TIAA’s Nick Says (Bloomberg)
Federal Reserve policy makers may find it harder to avoid raising interest rates, after lifting them only once in the past 10 years, said Brian Nick, a strategist at $889 billion asset manager TIAA.
These Are the Fastest Growing Profitable Biotech Stocks (Fool.com)
The biotech industry could be described as the stock market's roulette wheel. While nearly 90% of all biotech stocks are losing money and the vast majority of clinical trials will end in failure, a clinical win could result in investors getting a return many times over on their original investments.
Tyson Slumps as Analyst Cites ‘Convincing’ Class Action Suit (Bloomberg)
Tyson Foods Inc., the largest U.S. meat processor, tumbled the most in six years after an analyst downgraded the stock and said a class-action lawsuit that alleges price collusion in the broiler-chicken market is "powerfully convincing."
Gold’s Drop Below 200-Day Average May Trigger More Losses: Chart (Bloomberg)
Gold just dropped below its 200-day moving average — a key technical level often used by chart watchers to predict future moves — for the first time since February.
A Simple Guide to “Finding your Niche” (New Trader U)
I was having a discussion with one of my guys the other day…he saw some others in the room making some really nice trades, and he said to me “Dante, what are they doing that I’m not doing?” .
OPEC GUIDE (S&P Global Platts)
OPEC crude output rose again in September to a record high of 33.24 million b/d, an S&P Global Platts survey showed October 6. The figure is 110,000 b/d higher than August and marks the fourth consecutive month of growth, as output rises in Libya, Iraq, Nigeria and Iran more than offset declines from Saudi Arabia, Angola, Qatar and Venezuela.
Qatar is not selling its stake in Deutsche Bank and might even buy more (Business Insider)
Qatari investors who own the largest stake in Deutsche Bank do not plan to sell their shares and could consider buying more if the embattled German bankdecides to raise capital, sources familiar withQatari investment policy told Reuters.
Why the market is freaking out about Tesla (Business Insider)
This always seems to happen when there's a moment to reassess the electric-car maker's stock. On Sunday, Tesla announced that it had greatly exceeded delivery expectations for the third quarter, with 24,500 vehicles officially sold to customers.
One of Jeffrey Gundlach's Favorite Recession Indicators Just Got Triggered (Bloomberg)
September’s jobs report contained a sign that investors should be on alert for a U.S. recession, judging by bond guru Jeffrey Gundlach’s favorite warning signs.
The Solar Energy Paradox: Why Solar Is Booming and Companies Are Going Out of Business (Fool.com)
There may not be a business with a higher potential than the solar industry has today.
Has Elon Musk Finally Run Out Of Rope? (Uncle Brian Research, Seeking Alpha)
Faith in Elon Musk and his ability to execute on his grand visions for Tesla Motors (NASDAQ:TSLA) and SolarCity (NASDAQ:SCTY) is the largest factor supporting the stock price and continued operations of both companies.
Oil Slides Below $50 After Gartman Turns Bullish (Zero Hedge)
Having declared back in January that "we won't see crude above $44 again in my lifetime" only to watch crude surge above $44 and far higher just three months later – while mysteriously staying alive – "commodity guru" Dennis Gartman failed to learn his lesson, and appearing on CNBC one month ago he again made one of his bombastic forecasts, saying "investors shouldn't expect the commodity to break through $55 for a few years."
Fed's Fischer says jobs number close to Goldilocks ideal (Reuters)
Friday's jobs number was close to an ideal "Goldilocks" reading that showed the economy motoring ahead but not too fast to pose risks, Federal Reserve vice chair Stanley Fischer said on Friday.
Why Poor People Lose (& Wealthy Win) In BoE's Effort To Crush The Pound (Hedgeye)
"We have a clear monetary policy framework in the United Kingdom," Bank of England head Mark Carney said earlier this week.
Companies
This Texas Investor Has a Serious Beef With Wells Fargo (Fortune)
After the bank’s fake accounts scandal led to a $185 million fine, lawsuits from shareholders and former employees, a Senate Banking Committee hearing where CEO John Stumpf was told by Sen. Elizabeth Warren (D-Mass.) that he exhibited “gutless leadership,” and a call for the bank to be broken up, it now has to face Lacy Harber, an 80-year-old businessman and philanthropist from Denison, Texas.
Here are all the companies and divisions within Alphabet, Google's parent company (Business Insider)
The shake-up happened with the idea that it would allow all of its businesses to operate more effectively and efficiently, a move the company was said to be considering for four years. The move allowed CEO Larry Page tostep back from day-to-day operations to "focus on the bigger picture."
Netflix CEO says China entry 'doesn't look good' (Reuters)
Video streaming service Netflix Inc's (NFLX.O) Chief Executive Reed Hastings said the likelihood of the company entering the Chinese market "doesn't look good".
Mars and Wrigley re-brand to create confectionery giant (Houston Chronicle)
Mars, the candymaker responsible for chocolate brands like M&M's, Milky Way and Snickers, is rebranding its candy offerings as Mars Wrigley Confectionery and moving management of its confectionery business to Chicago.
Politics
President Obama Officially Voted For His Successor (The Huffington Post)
As he was voting, Obama looked at reporters following him and said, “They can’t see who I’m voting for, can they?” When he was asked which candidate he voted for, Obama just smiled.
Donald Trump Says 70% of Federal Regulations ‘Can Go’ (Fortine)
Just hours after an adviser said the candidate would seek to cut 10%.
U.S. Republican presidential nominee Donald Trump said as many as 70% of federal agency regulations could be eliminated if he is elected in November, just hours after an adviser said the candidate would seek to cut 10%.
With Senate Control at Stake, Koch Groups Start Endorsing by Name (NY Times)
WASHINGTON — The vast and cash-rich Koch political network is intensifying efforts behind preferred Republican candidates in the few crucial races that could decide Senate control.
Giuliani’s daughter is for Clinton (Politico)
The daughter of former New York City Mayor Rudy Giuliani — a key adviser to Donald Trump and one of his most vocal surrogates — has been “pro-Hillary all along,” she wrote on her Facebook page.
Technology
Range Is All the Rage in Paris, as Electric Cars Steal the Show (NY times)
PARIS — For perhaps the first time at a major international auto salon, the stars of the Paris Motor Show are electric cars.<p>The 2016 show, open to the public through Oct. 16, also has the usual sampling of futuristic designs and prototypes.
Renault to test self-driving, electric Zoe in China (Road Show)
We're now in the stage of autonomous-car development where multiple automakers are introducing projects onto roads, some of which are public. Renault, parent company of Nissan, is getting in on the action in China with its Zoe electric vehicle.
Carriers are offering replacements for Note 7 replacements in wake of latest incident (Tech Crunch)
Exploding phones are really bad PR. But when one of the post-recall replacement reportedly starts to spontaneously smoke inside a customer’s pocket on a plane, you’ve got a veritable code red disaster on your hands.
iPhone 7 goes on sale in India, costs half the average annual salary (Cult Of Mac)
It’s going to be a challenge, though, as Gartner research vice president Mark Hung told CNBC’s “Street Signs” — given that the price for the new handset is more than the average Indian citizen earns in six months.
Google Duo is pushing Hangouts off Android (Engadget)
It looks like Hangouts is being sent to the big office suite in the sky. According to Android Police, starting on December 1st, phone makers like Samsung and HTC will no longer be required to add Hangouts to their handsets. Instead, Duo will be the mandatory video-calling app on Google-powered devices.
Health and Biotech
Physicists have managed to 'dissolve' water in an emerald (Science Alert)
For the first time, Russian physicists have managed to effectively 'dissolve' water in an emerald, by overriding the hydrogen bonds that usually hold water molecules together.
Life on the Home Planet
Hurricane Matthew battering Florida’s northeast coast as governor warns: ‘This is not over’ (The Washington Post)
ORMOND BEACH, Fla. — Hurricane Matthew churned along Florida’s Atlantic Coast on Friday, looking increasingly like its center would remain just offshore as the storm battered the state with punishing rain, beach-swallowing sea surges and destructive wind gusts topping 100 mph.
Nobel physicists are leading a 21st-century computing revolution (The Conversation)
British scientists David Thouless, Duncan Haldane and Michael Kosterlitz won this year’s Nobel Prize in Physics “for theoretical discoveries of topological phase transitions and topological phases of matter.”
Maybe Alien Life Runs On Cosmic Rays Iinstead Of Sunlight (Popular Science)
Earth is very much powered by the sun. Beams of photons shoot down at us, dumping their energy into green plants.
Fox Reporter Accused of Racism for Chinatown Interviews Expresses ‘Regret’ (NY Times)
A Fox News correspondent who has been accused of stalking and harassment for his ambush-style interviews on the street expressed “regret” late Wednesday after provoking a storm of criticism and accusations of racism for filming a series of mocking interviews of Asian-Americans in New York City.
The latest report of the ‘alien megastructure’ star might be the weirdest yet (Business Insider)
In an exciting new report, astronomers discuss even more mysterious behavior from the infamous star KIC 8462852.
Heavy toll weighs on Misrata after battle for Libya's Sirte (Reuters)
Next to the rusting shell cases outside Misrata's museum of Libya's 2011 uprising is a new addition: a scaffold used by Islamic State in Sirte to display bodies of executed prisoners, mounted on a would-be suicide bomber's captured truck.
