Financial Markets and Economy
Deal or no deal in Vienna, oil investors are preparing for higher prices (Reuters)
The chance of an agreement to freeze or cut crude output when OPEC members meet next month might appear more distant now Iraq has joined those asking for an exemption, but investors are ramping up their bets that oil prices will rally.
Italy’s Most Troubled Bank Offers Little to New Investors (The Wall Street Journal)
One thing is certain: Investors who back the rescue of Italy’s most troubled bank aren’t going to emerge with a fully repaired lender the day after the deal.
Banca Monte dei Paschi di Siena, which is a key indicator for the stability of Italian banking, unveiled its recapitalization and business plan Tuesday as it tries to drum up interest in a €5 billion ($5.4 billion) equity raise.
Rising Ruble Dents Russian Wheat-Export Outlook Amid Global Glut (Bloomberg)
Shipments from the world’s biggest supplier will be 29.5 million metric tons, down 1.6 percent from a previous estimate, Moscow-based Institute for Agricultural Market Studies said Tuesday. SovEcon, another consultant in Moscow, reduced its outlook 1.3 percent to 30 million tons last week.
Oil Edges Up Ahead of U.S. Data (Reuters)
Oil edged up on Tuesday ahead of the release of U.S. crude inventory data, which in recent weeks has provided bullish surprises, but a flurry of top-level comments from OPEC members regarding chances of an output cut kept a lid on prices.
U.S. stocks slip on earnings, dollar off highs (Reuters)
U.S. stocks fell on disappointing earnings reports on Tuesday, while the U.S. dollar slipped from multi-month highs after Bank of England Governor Mark Carney cast doubt on expectations for more monetary stimulus.
An Options Contract That’s Not for the Faint of Heart (The Wall Street Journal)
Here’s an options contract for traders looking to take a walk on the wild side: the weekly VIX option that expires on Nov. 9. That’s a contract tied to the Chicago Board Options Exchange’s Volatility Index, Wall Street’s favorite fear gauge.
U.S. Consumer Confidence Plunges Most In 11 Months (EconMatters)
For the first time since June, The Conference Board's Consumer Confidence index declined YoY, plunging from near cycle highs at 104.1 (revised lower to 103.5) to 98.6 (missing 101.5 expectations), this is the biggest monthly plunge since Nov 2015, catching down to UMich and Bloomberg surveys.
Best And Worst Performing Stocks 2016 YTD (Bespoke Investment Group, Seeking Alpha)
The average stock in the S&P 500 is up 7.01% year to date as of 10/24/16. Within the index, 64% of members are in the green for the year, while 36% are in the red. A total of 29 stocks in the index are down more than 20% year to date, while 100 stocks in the index are up more than 20%.
Bank of England to hold rates next month; staying in EU best for UK trade: economists (Reuters)
The Bank of England is not now expected to ease policy until early 2017, according to economists in a Reuters poll who almost unanimously said staying in the European Union would be the best for the UK's long-term trading prospects.
Greece just got permission to be massively bailed out again (AFP)
Luxembourg (AFP) – Eurozone officials announced Tuesday they have approved 2.8 billion euros for Greece from its huge third bailout after the cash-strapped nation delivered the needed reforms.
Saudi Stocks Extend Best Rally in Year on Government Cash Boost (Bloomberg)
Saudi Arabian stocks extended their longest winning streak in a year on optimism proceeds from the government’s record bond sale will alleviate strain on the slowing economy.
Here's Why Goldman Sachs Cut its S&P 500 Earnings Outlook (Fortune)
A team of analysts led by David Kostin, who oversees global investment research at Goldman Sachs, lowered earnings per shares estimates for the S&P 500 through 2018. Not just 2018, but also 2016 and 2017.
Bitcoin hits 3-month high as Chinese investors flee falling yuan (Market Watch)
Trading volume in China surged on Saturday, with nearly 99% of global trades executed on OKcoin, Huobi and BTCChina, three of the largest Chinese exchanges, according to CryptoCompare, a company that analyzes trading activity in several cryptocurrency markets, including bitcoin.
German ammunition sales increase ten-fold (DW Made For Minds)
Germany's ammunition exports skyrocketed in the first half of 2016, a leaked report has revealed. Turkey, currently suppressing its political opposition, has moved up the list of the country's best customers.
OPEC Is at ‘Hardest’ Stage in Its History, Chief Barkindo Says (Bloomberg)
OPEC Secretary-General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members debate oil-production cuts needed to balance the market.
New York Construction Spending to Top Record as Towers Rise (Bloomberg)
New York City construction spending is expected to climb 26 percent this year to a record, driven by a surge in development of offices and residential properties, according to a local trade organization.
Why Barrick Gold's Cash Flow Is Set To Rise Further (Alpha Investor)
When Barrick Gold (NYSE:ABX) releases its results later this week, investors can expect a strong financial performance from the company as I had outlined earlier this month.
Real Prices and Price-to-Rent Ratio in August (Calculated Risk)
Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.3% year-over-year in August
The year-over-year increase in prices is mostly moving sideways now around 5%. In August, the index was up 5.3% YoY.
Calculate Your "Safe Withdrawal Rate" to See How Far You Are From Retirement (Life Hacker)
Everyone wants to retire comfortably, but it’s not easy to tell how far away from it you realistically are. A monthly check of your “safe withdrawal rate” can tell you, as well as serve as a motivation boost, according to The Simple Dollar.
US Dollar Spikes To Fresh 8-Month Highs As Dec Rate Hike Odds Top 70% (Zero Hedge)
The US Dollar Index is up 5 weeks in a row and has just crossed above 99 for the first time since January 2016. As December rate-hike odds have surged since the Brexit vote, so the USD Index has tracked almost perfectly,rising almost 7% in that time (the fastest rise in 18 months).
The Secrets Of Self-Employment: Overhead And Capital Accumulation (Of Two Minds, Zero Hedge)
There are still opportunities to not just earn a wage, but the overhead, profit and capital skimmed by global corporations.
So how can someone earning $15 an hour as an employee get ahead? The short answer is: they can't. One worker earning $15/hour will struggle to get ahead, which I define as building capital that generates an income stream.
Companies
Sprint Second-quarter Losses Narrow And Revenue Rises (Market Watch Pulse)
Sprint Corp. shares dipped 2.5% in premarket trade Tuesday after the company exceeded second-quarter revenue and earnings expectations and raised its 2016 operating income guidance. Losses for the latest quarter narrowed to $142 million, or a 4 cent per share loss, from a loss of $585 million, or 15 cents per share in the same period a year ago.
Chipotle’s third-quarter earnings: What to expect (Market Watch)
Chipotle Mexican Grill Inc. is expected to report third-quarter earnings Tuesday after the closing bell.
Chipotle’s CMG, -1.86% price target was lowered by at least three banks last week, and it was downgraded at least once.
Visa: FQ4 Results Highlight Ignored Risks (Stone Fox Capital, Seeking Alpha)
After the close, Visa (NYSE:V) reported solid FQ4 numbers. With the recent exit of the CEO, the results were encouraging that the departure wasn't related to issues with the business.
The strong dollar hurt Whirlpool (Reuters)
(Reuters) – Whirlpool Corp reported a worse-than-expected quarterly net profit on Tuesday as the strong U.S. dollar hit revenue and the company lowered its full-year earnings forecast citing softness in the U.S. and British markets and the weak British pound.
Technology
Here's what the charts say about Apple earnings (MPtrader)
Apple reports Q3 earnings after the close of trading on Tuesday. Wall Street always gets excited when AAPL reports, because investors and detractors are extremely passionate about the potential of the company—positive or negative.
IBM's Watson is making music, one step closer to taking over the world (Mashable Asia)
In a move that's guaranteed to inspire awe but is really just laying the foundation for the robot takeover Elon Musk has been warning us about, IBM's artificial intelligence program Watson has helped write some music.
AT&T Is Spying ON Americans For Profit, New Documents Reveal (Daily Beast)
Hemisphere is a secretive program run by AT&T that searches trillions of call records and analyzes cellular data to determine where a target is located, with whom he speaks, and potentially why.
Microsoft could announce new Surface and HoloLens developments at Wednesday's big event (Mashable Asia)
On Wednesday, Oct. 26, Microsoft is holding a big product announcement in New York City. Ahead of the big day, here's the cornucopia of hardware and software spanning new Surface devices, Windows 10, Hololens and maybe Xbox that we're expecting to hear about.
The Pentagon’s ‘Terminator Conundrum’: Robots That Could Kill on Their Own (NY Times)
CAMP EDWARDS, Mass. — The small drone, with its six whirring rotors, swept past the replica of a Middle Eastern village and closed in on a mosque-like structure, its camera scanning for targets.
Beer Run! Self-Driving Truck Goes 120-Plus Miles On Delivery (Associated Press)
DENVER (AP) — Anheuser-Busch says it has completed the world's first commercial shipment by self-driving truck, sending a beer-filled tractor-trailer on a journey of more than 120 miles through Colorado.
How Crowdfunding Has Changed the Startup Game (Singularity Hub)
The development of innovative technology — from virtual reality headsets to space exploration to solar-powered roadways — is no longer the province of companies with big R&D budgets or venture capitalists with deep pockets. Many of today’s tech entrepreneurs don’t stand on the shoulders of giants — they surf a crowd of people to find success.
Politics
Clinton leads by 5 heading in to final two weeks (CNN Politics)
(CNN) – Hillary Clinton leads Donald Trump by 5 points as the presidential campaign heads into its final two weeks, with the Democratic nominee's support just shy of the 50% mark, according to a new CNN/ORC poll.
SurveyMonkey’s real-time map lets you track how the presidential election is going (Venture Beat)
With just two weeks until Election Day in the U.S., all eyes are on who will be chosen as the next president. And while we are treated to periodic polls about how the candidates are doing, SurveyMonkey has launched a map that provides that data in real time, highlighting the key states where Hillary Clinton and Donald Trump are waging battles for votes.
How To Stop Election Fraud (InfoWars)
The election is here and it is up to you to stop the election from being stolen.
Take it upon yourself to ensure the integrity of the election. If they try to steal the election from We The People, We The People will take notice.
Health and Biotech
4 Top Drug Stocks That Can Be Purchased on the Cheap This Fall (Fool.com)
U.S. stocks have been taken for a wild ride in 2016, but at least most long-term investors can relish the fact that despite the volatility, the broader market indexes are all higher year-to-date. The same can't be said for theSPDR S&P Biotech ETF or VanEck Vectors Pharmaceutical ETF, which are down 15% and 16% year to date, respectively.
Mice Born From Artificial Eggs a ‘Stunning Achievement’ (Singularity Hub)
Last month, a team of British scientists successfully made healthy, fertile mice from pseudo-egg cells that resembled fertilized embryos. The story made waves: compared to normal egg cells, the pseudo-eggs were more similar to non-sex cells such as skin cells. The implications were tantalizing: one day, in the far future, we may be able to make “motherless” babies without the need for eggs.
Is DNA the Future of Data Storage? (The Wall Street Journal)
A QUICK RIDDLE: WHAT DO 100 works of classic literature, a seed database from the nonprofit Crop Trust and the Universal Declaration of Human Rights have in common? All of them were recently converted from bits of digital data to strands of synthetic DNA. In addition to these weighty files, researchers at Microsoft and the University.
Outrage over the price of the EpiPen may have actually led to more prescriptions for the device (Business Insider)
One side effect of all that fury over the price of the EpiPen seems to be a jump in prescriptions for the drug.
Life on the Home Planet
Calais camp scuffles break out as 2,000 refugees prepare to leave (The Guardian)
Up to 2,000 people were expected to leave the Calais refugee camp on Tuesday, as isolated scuffles broke out on the second day of an attempt by the French government to clear the site.
Sorry, 'Flash' Fans – There's No Evidence For A Multiverse Yet (Starts With A Bang)
“I read the LHC people have shown we live in a multiverse!” my mom says when she opens the door. It wasn’t really the welcome I expected. Recently retired, she now regularly attends lecture series at the university. Mostly, she finds them annoyingly dumbed down.
North Korea waging 'cyber warfare' against South by spreading malicious rumours (The Telegraph)
North Korea is conducting online "psychological warfare" against South Korea, with teams of cyber warriors spreading unflattering rumours and malicious tales throughout the internet.
More Bad News For NFL As Sunday Night Football Ratings Fall 15 Percent (Forbes)
Television ratings for the National Football League remain in bad shape compared to last year.
The Sunday Night Football week seven matchp between the Arizona Cardinals and Seattle Seahawks on NBC drew an 11.6 overnight rating, down 14.7% versus the 13.6 overnight for the week seven SNF matchup in 2015 between the Philadelphia Eagles and Carolina Panthers.
The 24 best universities in the world (Business Insider)
US News & World Report has released its third annual rankings of the Best Global Universities.
Drawing on factors such as breadth of research, global reputation, and the number of books and publications released each year, the list ranks the 1,000 best schools in the world.
People who travel alone might actually be more intelligent (Travel + Leisure)
According to a study from the British Psychological Society, intelligent people are more likely to experience "lower life satisfaction with more frequent socialization with friends."
