What I Am Reading

October 25 (Thursday) Markets Dow futures point to more than 100-point rebound Thursday after plunging 600 points (C) Tech stocks recover after-hours on positive earnings from Tesla and Microsoft (C) Great earnings reports don’t matter to investors, who fear a trade war will hit 2019 profits (C) Asia facing sharp falls after Wall St. rout (R) China will do ‘whatever it takes’ to stop its falling stock market (BR) Central banks Volcker: What’s Wrong With the 2 Percent Inflation Target (B) Prolonged market slump could bruise U.S. economy: Fed’s Mester (R) US U.S. manufacturers say tariffs pushing prices higher: Fed (R) Fed Report Sees Optimism About Growth, but Growing Concerns About Tariffs (W) New Home Sales Fall, Inventories Rise on Faltering Demand (W) China Why China’s Economic Troubles Run Deep (Wharton) US politics Suspected bombs mailed to top Dems and CNN (R) Geopolitics & trade Send Word: Trump Right to Fight Some Global Rules (W) Saudi Crown Prince Pledges Justice for Journalist’s Death (W) Industries & companies Airlines: Surging fuel and plunging stock: American Airlines CEO in the hot seat for quarterly earnings (C) Autos: Tesla shares soar on surprise third-quarter profit that beats Wall Street expectations (C) Autos: Ford shares jump after strong truck sales help third-quarter results beat expectations (C) Energy: Exclusive: Trump, industry work behind the scenes to save Saudi arms package (R) FANGs: Ex-Facebook security chief calls out Tim Cook and Apple’s practices in China (C) Financials: Barclays Cruises While Deutsche Bank Spins (W) Hospitality: CEOs of two big American hotel chains see wage pressures mounting (C) Tech: AMD’s stock craters more than 20% after hours on weak graphics sales (MW) Tech: Microsoft’s Cloud Strategy Pays Off (W)

October 24 (Wednesday) Markets Stocks roar back from 500-point loss in the Dow, but still end the day lower (C) Inside S&P 500, most stocks in correction or bear market (R) The stock market sent a warning signal before its big turnaround Tuesday (C) China talks up the stock market amid lurking concerns about share-backed loans (C) Here are the early signs China’s stock-market woes are starting to infect the rest of the world (MW) Foreign Buying of U.S. Treasurys Softens, Unsettling Financial Markets (W) Energy Oil Tumbles 5% After Saudis Pledge to Produce as Much as They Can (B) Central banks For Fed, sell-off could point to fading Trump stimulus (R) Fed’s Bostic says comfortable with fourth rate hike following strong data (R) Trump directly attacks Fed Chairman Powell, saying ‘Obama had zero’ interest rates (C) Europe In First for Europe, Brussels Rejects Italy’s Budget (W) US politics Key Republican Says GOP Will Advance Trump’s Tax Cut If They Keep Congress (B) Geopolitics & trade Trump: Saudis staged ‘worst cover up ever’ on Khashoggi (R) Trump Defers to Congress on U.S. Response to Khashoggi Killing (B) Trump adviser tells Putin: We’ll quit arms control treaty you’re breaking (R) Bolton Says Trump Would Welcome Meeting with Putin Next Month in Paris (W) Another Migrant Caravan Gathers in Guatemala (W) Industries & companies Autos: Tesla’s stock skyrockets after legendary short seller goes long (MW) FANGs: Amazon’s move off Oracle caused Prime Day outage in big Ohio warehouse, internal report says (C) Industrials: Manufacturers See Signs of New Risks (W) Pot: The real reason marijuana stocks are falling off a cliff — and what to do now (MW) Technology Amazon Pitches Facial Recognition to Monitor Immigrants (B) Offbeat Doctors have a simple piece of advice for heart patients who want to live longer (MW)

October 23 (Tuesday) Markets U.S. Stocks Drop Amid Geopolitical Tensions (W) Dow falls more than 100 points as Bank of America leads financial shares lower (C) Beware ‘dead cat bounce’ in stocks, there’s more pain ahead: Morgan Stanley (MW) Cramer: We could be facing a cold war with China, and these stocks may be sacrificed (C) This week’s earnings shine spotlight on China growth risk (R) Europe Italy’s Debt Predicament, in Seven Charts (W) US politics Trump repeats his dubious pledge to introduce a 10 percent middle-class tax cut before the midterms (C) Battle for the GOP’s Soul? Trump Has Won (W) The Steel Industry Gets What It Wants on Tariffs (W) ‘Like. Dislike. Like’: How Trump Changed His Tune on ‘Lyin’ Ted’ Cruz (W) Geopolitics & trade U.S., EU Trade Teams Seek Fast Results and Big Savings (W) Chinese official tells American investors at a meeting: We don’t fear a trade war with the US (C) Mnuchin meets with Saudi Crown Prince Mohammed bin Salman despite outrage over Khashoggi killing (C) Trump Threatens to Cut Foreign Aid Over Migrant Caravan (W) Super Micro Computer Denies Malicious Chip Report (W) Industries & companies Autos: Ford starts US production of the Ranger pickup for the first time in years (C) Financials: Goldman Sachs, advisor to the ultra-rich, plans to offer wealth management for the little guy (C) Technology Uber Eyes 2021 for Food-Delivery Drones Launch (W)

October 22 (Monday) Markets Bull Market’s Latest Hurdle: Slowing Sales Growth (W) Stocks Will Rally in 2019, Big Money Poll Predicts (BR) The ‘smart money’ says it’s time to buy the Chinese internet giants and the U.S. FAANGs (MW) How to Play Preferred Stock as Yields Rise (BR) Credit Short-Term Bonds Are Looking Much Better (BR) Italy Cut to One Step Above Junk by Moody’s in Wake of Bond Rout (B) US Strong Economy Draws Women Into U.S. Labor Force (W) Don’t Be Fooled by Low Unemployment: The Jobs Recovery Still Has Room to Run (BR) Europe Italy expects EU budget rejection on Tuesday: source (R) Japan How Investors’ Gloomy Take on Japan May Be Upended by Inflation (B) China China says must balance stable growth and risk prevention (R) China Finds Big-Ticket Spending Is a Road to Nowhere (W) Exports Keep China’s Economy Warm, but Winter Is Coming (W) Alibaba, Tencent, and Baidu Are Down, Not Out (BR) US politics Trump’s Pre-Election Tax-Cut Promise Leaves GOP Leaders Baffled (B) Democrats Hold Edge for Midterms With Turnout Unpredictable (B) Geopolitics & trade Mnuchin dismisses risk of contagion from China’s economic slowdown (R) Mnuchin Open to Change That Could Label China a Currency Manipulator (B) Mnuchin says it will be harder for Iran oil importers to get waivers (R) Saudi Arabian Foreign Minister apologizes for Khashoggi’s death as calls grow for more answers (C) Allies Doubt the Shifting Saudi Story. Even Trump Is Citing ‘Lies’ (B) Caravan Heads North After Migrants Cross Into Mexico (W) Industries & companies Autos: Tesla insiders paint an unflattering portrait of Musk’s micromanagement that wastes time and money (C) Energy: Frackers Bet on New Terminals to Boost Oil Exports (W) Offbeat UBS Cautions Private Bankers on Travel to China (W) Powerball now at $620 million, while Mega Millions jackpot hits $1.6 billion. Do this if you win (C) FICO Plans Big Shift in Credit-Score Calculations (W) Zero-waste stores pop up in the US, targeting shoppers tired of all the waste (C)

October 20 (Saturday) Markets Dow Rises After Chinese Shares Rebound (W) With market on edge, investors look to tech trio (R) Investors can get big tax breaks if they invest in ‘opportunity zones’ under new Treasury rules (C) Goldman Says It’s Time to Buy the Dip in Beaten-Down Emerging Markets (B) Central banks Quarles Backs Fed’s Gradual Policy Course (W) Don’t Chase the Needles: An Optimistic Assessment of the Economic Outlook and Monetary Policy (Quarles, FRB) Fed’s Kaplan sees two-three more rate hikes to hit ‘neutral’ level (R) US U.S. Existing-Home Sales Fall to Lowest Since 2015 (B) China China Growth Slows to 6.5%; Finance Officials Try to Soothe Worried Investors (W) China’s Export Engine Likely to Cool, Further Slowing Growth (W) US politics ‘Information warfare:’ Feds charge Russian woman with interference in US political system, midterms (C) Geopolitics & trade Clash over Trump tariffs heats up with barrage of WTO litigation (R) Europe, Asia Nations Join U.S.’s Economic Pushback Against China (W) Industries & companies Autos: Tesla ‘damned if you do, damned if you don’t’ on $35,000 Model 3: analyst (MW) Autos: Tesla Short Seller Warns of ‘Massive’ Supply-Chain Disruption (B) Consumer: Procter & Gamble shares jump 7% on biggest quarterly sales gain in 5 years (C) FinTech: JP Morgan’s Jamie Dimon makes his biggest bet on Silicon Valley with new ‘fintech campus’ (C) FinTech: PayPal surges 9% after its Venmo app shows signs of becoming a moneymaker (C) Manufacturing: Hasbro reportedly to cut workforce by less than 10% (C) Tech: Microsoft is now tying Satya Nadella’s pay to LinkedIn’s performance (C) Wireless: 5G Has Arrived. It’s Been A Long Wait for Ericsson, Nokia. (W) Offbeat CEO berates analysts on conference call: ‘You are a disaster…they will have to commit suicide’ (C) The rules were changed, making the odds of winning the $ 1 billion Mega Millions jackpot so slim (C) Amazon Revisits Shortlisted Cities as HQ2 Decision Looms (W)

October 19 (Friday) Markets Dow falls more than 300 points as the market’s October struggles persist (C) Wall Street’s biggest bull: The market is ‘inappropriately’ pricing in a potential recession (C) Goldman CEO Solomon says part of October’s market sell-off driven by programmatic trading (C) It’s a Long Way Down for China Stocks Channeling Past Traumas (B) China’s stock market is getting pummeled and history shows that is bad news for US markets (C) Currencies & credit U.S. Criticizes China’s Currency Practices, but Doesn’t Add Manipulator Designation (W) Italy Turmoil Fails to Deter U.S. Investor From Peripheral Bonds (B) Central banks Quarles Backs Fed’s Gradual Policy Course (W) Goldman Sachs sees five more Fed rate hikes through end of 2019 (R) Cramer: The Fed’s attempt to preemptively curb inflation is ‘a mistake’ (C) US Inflation Is Back—and Unilever, Nestlé Are Taking Advantage (W) Japan Japanese inflation ticks up as oil rises but BOJ target remains elusive (R) China China’s third-quarter GDP growth set to hit weakest since 2009 amid trade war strain (R) US politics GOP Plans to Spend Millions to Help a Long-Shot New York Candidate (B) Geopolitics & trade Trump Says Khashoggi Likely Dead, Warns of ‘Severe’ Consequences (B) Exodus From Saudi Event Rolls On as Goldman, Mnuchin Cancel (B) Exclusive: U.S. asks for WTO panel over metals tariff retaliation (R) Mattis Tries to Dial Back Confrontation With China (W) Super Micro Tells Senators No Evidence of Chinese Hardware Hack (B) U.S. Startup Accuses Huawei of Trying to Steal Its Technology (W) Industries & companies Autos: Tesla CEO Elon Musk just introduced a ‘lower-cost, mid-range’ Model 3 via Twitter (C) FinTech: PayPal Profit Beats Estimates, an Encouraging Sign for Venmo (B) Corporate finance Tech Startups Stoke Market for IPOs (W) Offbeat Bangkok’s ‘Doctor Love’ Wants to Help Chinese Make Babies (B)

October 18 (Thursday) Markets Dow slides more than 100 points again after Fed minutes point to more rate hikes (C) Big Netflix Beat Has Analysts Debating How High Stock Can Go (B) China is still the wildcard in the stock market’s wild ride — here’s why (C) Fund Managers Increasingly Wary on Global Growth (W) Credit, currencies, & commodities Billionaire investor Leon Cooperman says bonds, not stocks, are in a bubble (C) The Earnings Elephant in the Room (W) Oil Tumbles on Jump in Inventories (W) Central banks Fed Minutes Point to Continued, Gradual Interest-Rate Increases (W) | Minutes Fed Officials Debated Hiking Rates to Restrictive Territory (B) US U.S. Housing Construction Fell in September, Continuing Weak Stretch (W) Europe Europe Offers Britain an Olive Branch to Break Brexit Impasse (W) US politics This bitter House race in New York shows how health care is dominating the battle for Congress (C) Trump says each Cabinet secretary should slash 5% of their budgets after he pledges to cut spending (C) Treasury employee busted for allegedly leaking documents related to Paul Manafort, Russians (C) Mueller Ready to Deliver Key Findings in His Trump Probe, Sources Say (B) Geopolitics & trade I Trump, Pompeo Cite U.S.-Saudi Ties as Khashoggi Crisis Escalates (B) Khashoggi crisis threatens to alienate the foreign firms remaking Saudi Arabia’s economy (C) Top Bankers Quietly Prep for Saudi While Their Bosses Skip Forum (B) Ties to Saudi Prince Weigh On SoftBank Fund’s Future (W) Geopolitics & trade II China, World’s Biggest Exporter, Tries Branding Itself as an Importer (W) Trump Administration Moves to End Deep Discounts for Packages From China (W) Wall Street slashes earnings outlook for automakers and suppliers amid concern about China (C) Industries & companies Autos: Tesla Advances in China, Buying Land for a Factory (W) FANGs: Netflix is adding almost as many subscribers in one year as HBO did in 40 years (C) FANGs: Funds Back Proposal to Remove Zuckerberg as Facebook Chairman (W) Financials: Banks Take Fight Against New Loan-Loss Rule to Washington (W) Financials: Regulators Rescind Federal Oversight of Prudential Financial (W) Pharma: Drug giant Pfizer offers early retirement ahead of layoffs in memo to employees (C) Tech: IBM Shares Slide as Revenue Drop Renews Concerns (W) Trucking: Uber Targets Trucking With New Trailer-Rental Business (W) Corporate finance Elon Musk says he’s going to buy $20 million of Tesla stock (C) Offbeat Mega Millions jackpot at $868 million, the second-largest US lottery prize ever (C) College Readiness Declines, Especially in Math, ACT Shows (W)

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)

October 16 (Tuesday) Markets Why the market is suddenly concerned Saudi Arabia will weaponize oil in Khashoggi dispute (C) Goldman says the sell-off is just about over and tells investors to get back into growth stocks (C) Small Caps Become Latest Winning Trade to Collapse (W) FAANG Stock Losses Continue to Mount (B) Emerging-Markets Selloffs: This One Is Different (W) U.S. Tax Changes Hit Global Investment Flows (W) Credit, currencies, & commodities The Treasury 10-Year Yield May Not Be Above 3% for Long (B) U.S. to Blame for Weaker China Currency (W) U.S.-Saudi Tensions Put Oil-Price Discounts Into Play (W) Central banks Yellen Calls Trump’s Attack on Fed Counterproductive (W) US U.S. Retail Sales Rise Less Than Expected in September (W) Actual Storms, Not Economic Ones, Explain Retail Sales Dip (W) Europe Merkel’s Allies Hit With Worst Election Showing Since 1950 (W) May and Macron Strike Dovish Tone Before Big Brexit Summit (B) US politics Trump’s First Annual Budget Deficit Rises to a Six-Year High (B) Trump, Calling Mattis a Democrat, Opens Door to His Exit (W) Exclusive: Facebook to ban misinformation on voting in upcoming U.S. elections (R) Why This Election Is So Hard to Predict (W) Geopolitics & trade Trump hints at ‘rogue killers’ in journalist disappearance (R) It would’ve been nearly impossible for journalist Khashoggi to record inside the Saudi consulate using his Apple Watch (C) JP Morgan and Ford cancel plans for Saudi investor event (R) Industries & companies FANGs: Google’s new Pixel 3 and Pixel 3 XL are two of the best Android phones you can buy (C) Financials: Bank of America Profit Rises 32% (W) Media: A Drama CBS Can’t Cancel—the One in Its Boardroom (W) Media: Attention Shoppers: The Background Music You Hear May Not Be Licensed (W) Retail: U.S. Retail Sales Miss Forecasts as Restaurant Receipts Drop (B) Corporate finance Sears, Finally Bankrupt, Now Tries to Avoid ‘Dustbin of History’ (B) Icahn to Oppose Dell’s Purchase of DVMT Tracking Shares (W) Technology Jeff Bezos says tech’s biggest problems don’t have solutions yet, but ‘we’ll figure them out’ (C) Offbeat Hurricanes Blamed for Biggest Cuts to S&P 500 Earnings Estimates (B)

October 15 (Monday) Markets Why it’s never a good idea to sell when the market goes down quickly (C) Here’s why one analyst thinks the sell-off could be saved by earnings (C) Why the Stock Market Went Loco (BR) Investors’ Curious Comfort With Junk Bonds (W) Central banks Draghi Says Key Global Risk Is Sudden Jump in Interest Rates (B) BOJ’s Kuroda warns of darkening global prospects as trade tensions weigh (C) Kuroda Says Signal for Stimulus Exit Would Be Change in Target Rate (B) Global Tremors Rattling World Economy: Takeaways From IMF Talks in Bali (B) Nobel Prize-Winning Economist Joseph Stiglitz on Why Globalization Is Under Threat (BR) US Housing Market Positioned for a Gentler Slowdown Than in 2007 (W) Europe Germany’s Merkel is facing a crucial test of one of her key alliances (C) Japan Japan manufacturers’ mood rises, trade worries weigh on outlook: Reuters Tankan (R) Emerging China property market feels fresh chill, ‘winter’ is coming (R) In China, a Dot-Com Déjà-Vu (W) ‘Innocent bystanders’: Emerging economies struggle to contain capital outflows (R) US politics A ‘Kavanaugh bump’ is boosting GOP Senate candidates. But Trump is a different story. (C) Geopolitics & trade I Why international pressure against Saudi Arabia could ‘escalate very quickly’ and bring pain for everyone else (C) Saudi Arabia warns against sanctions over Khashoggi (R) JP Morgan’s Jamie Dimon pulls out of Saudi conference (C) Geopolitics & trade II Trump Threatens Another Round of China Tariffs (B) China finds Trump’s team ‘very confusing’ to diplomats, ambassador to US says (C) Mnuchin Says He’s Not Worried China Would Unload Treasuries (B) Tariffs Hit Those Trump Wants to Help: U.S. Factories (W) Industries & companies FANGs: Why Amazon’s minimum wage hike was ‘inevitable’, and how others may soon follow in its footsteps (C) Financials: Banks Will Benefit from Rising Rates. Other Sectors, Not So Much (BR) Tech: Tech Stocks Could Rebound Again but the Risks Are Growing (BR) Corporate finance Harris to merge with L3 in all stock deal, creating US defense giant with $34 billion market value (C) Sears’ habit of liquidating outside bankruptcy is making it harder to save itself now (C) Technology Not everyone is ready to ride as autonomous vehicles take to the road in ever-increasing numbers (C) Offbeat Mega Millions jackpot soars to $654 million after no one wins Friday drawing (MW)