In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
AT&T isn't focused on selling or divesting DirecTV as Elliott Management pushes for divesting the satellite TV asset.Technologyread more
As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The move could bring a welcome salve to farmers caught in the crosshairs of the trade war if it results in a reopening of the market.Politicsread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
Check out the companies making headlines in midday trading:Market Insiderread more
The FDA's Office of Criminal Investigations opened a probe "shortly after" people started falling ill, Mitch Zeller, director of the FDA's Center for Tobacco Products, told...Health and Scienceread more
Apple's big iOS 13 update for iPhones is out now and includes lots of new features. Here's how to install it on your phone and what devices are supported.Technologyread more
What is more emblematic of the divisiveness of the presidential election than the market's fascination with the auction process of one mid-cap, poorly functioning company, Twitter, that can perhaps even be taken to task for its showcasing of vitriolic behavior?
The acrimony has even spilled over into the currency markets with the body shaming of an algo trader as the media refers to the instantaneous 13 percent collapse in the pound as the result of a "fat-finger" mistake.
Sovereigns were the story this week and with the backup in yields, surprising to some but not to those who read last week's weekly, was the continued slaughter in yield-bearing equities. The mini taper tantrum in Europe, which began as rumors circulated about a reduction in the ECB's bond buying program (later clarified in the dated minutes of their last meeting), pressured prices. The yield on German bunds crossed into unfamiliar positive territory while the U.S. 10-year consolidated at 1.73 percent. Equity markets tried awfully hard to trade lower all week but always seemed to rally back, although, as Marines they would have failed, leaving behind the wounded, those yield plays whose valuations had been too far extended as investors sought to replace what central bankers had callously removed in the name of QE. Ultimately, on Friday, the sellers, abetted by a just strong enough jobs number and perhaps unsure about the impact of Sunday night's presidential debate, won the battle and equity markets closed ever so marginally lower on the week. With all the negative news, it was a win.
The Philadelphia Utility Sector Index, a proxy for dividend seekers, traded down 10 straight days before bouncing into the weekend, likely as short sellers uncharacteristically for this cycle booked profits. The yang was the monstrous rally in financials with Citi hitting a 52-week high and taking with it Wells Fargo in a soft rebuke to Senator Elizabeth Warren and Congresswoman Maxine Waters, the market casting doubt on the supposition that all their 250,000 employees are part of a criminal enterprise.