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Wednesday, October 11, 2017
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11 Oct 11:23pm Updated Frightening, surreal scenes of wildfires in California’s Wine Country, in 4 videos
Market Watch
As wildfires continued to ravage California’s Wine Country for a fourth day Wednesday, videos have begun to emerge online, showing the widespread devastation.
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11 Oct 11:09pm Key Words: Trump tells Hannity he’s ‘very happy’ with Wall Street gains
Market Watch
In a wide-ranging interview on Fox News that touched on familiar themes, President Donald Trump on Wednesday said he’s “very happy” with Wall Street’s big gains this year.
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11 Oct 10:22pm The Wall Street Journal: Hillary Clinton says she’ll donate Harvey Weinstein’s campaign contributions
Market Watch
Hillary Clinton promised to donate all of Harvey Weinstein’s campaign donations to charity.
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11 Oct 8:24pm The Wall Street Journal: Facebook’s Mark Zuckerberg wants a billion virtual-reality users
Market Watch
Facebook Inc. Chief Executive Mark Zuckerberg announced an ambitious goal of getting a billion people into virtual reality and said he wants to ensure the technology is “a force for good.”
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11 Oct 8:10pm The Wall Street Journal: Trump claims his tax plan would save average Americans $4,000
Market Watch
President Donald Trump said Wednesday that average U.S. households could save $4,000 on their taxes if Congress approves his plan to overhaul the federal tax code, the first such estimate the White House has attached to its proposal.
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11 Oct 6:49pm Snap stock enjoys best trading day since IPO as analyst predicts stronger user growth
Market Watch
Snap Inc. stock Wednesday enjoyed its best trading day since debuting on Wall Street, rising 11.4% as one analyst predicted user growth has been stronger than he originally expected.
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11 Oct 5:32pm The Wall Street Journal: Trump says U.S. could dump Nafta, make trade deal with Canada but not Mexico
Market Watch
President Donald Trump, speaking alongside Canadian Prime Minister Justin Trudeau, opened the door to separate trade deals with Canada and Mexico to replace the North American Free Trade Agreement and repeated his warnings that the U.S. could withdraw from the pact.
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11 Oct 5:22pm The Wall Street Journal: Delta doesn’t expect to pay tariffs on new Bombardier jets
Market Watch
Delta Air Lines Inc. said it doesn’t expect to have to pay any tariffs on Bombardier Inc. jetliners it has on order despite recent U.S. trade action.
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11 Oct 5:10pm The Wall Street Journal: Taiwan fines Qualcomm $773 million, claiming unfair patent licensing
Market Watch
Qualcomm Inc. was fined about $773 million by the Taiwanese government, the latest setback as the chip maker defends its patent-licensing business against an international wave of regulatory and legal challenges.
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11 Oct 5:00pm NewsWatch: Dow, S&P 500, Nasdaq notch all-time highs after Fed minutes
Market Watch
U.S. stock benchmarks closed at records on Wednesday after minutes from the Federal Reserve's policy-setting gathering in September indicated a desire to increase rates one additional time despite stubbornly low inflation. Some Fed policy members expressed concerns about inflation running below its 2% annual target, while others worried that waiting for inflation to normalize policy could lead to an overheated market. The Dow Jones Industrial Average rose about 42.21 points, or 0.2%, at 22,872.89, supported by sharp climbs in the shares of components McDonald's Corp. and Johnson & Johnson . The S&P 500 index ended about 4.6 points, or 0.2%, at 2,555.24, with shares of retailing giants Target Corp. and Wal-Mart Stores Inc. leading gains in the broad-market index. Meanwhile, the technology-laden Nasdaq Composite Index climbed 16.30 points, or 0.3%, to 6,603.55. All three benchmarks ended at records. The account of the Fed's discussions during its September meeting suggests that the central bank would likely raise rates at a gradual pace. In other corporate news, shares of BlackRock Inc. rose after posting better-than-expected earnings, with a spate of earnings from financials set to be released early Thursday.
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11 Oct 4:41pm Market Snapshot: U.S. stock benchmarks book record trifecta as Fed minutes strike cautious tone
Market Watch
All three main U.S. stock benchmarks close at records on Wednesday after minutes from the Federal Reserve’s September meeting suggested caution among policy makers on the next interest rate hike which the market had widely expected in December.
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11 Oct 4:14pm Currencies: Dollar weakens against rivals after Fed minutes
Market Watch
The U.S. dollar was weaker versus its major rivals on Wednesday after the minutes of the latest Federal Reserve showed that Fed officials supported interest-rate hikes but worried about low inflation.
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11 Oct 4:09pm Economic Report: Looking for work? U.S. job openings still near record high in August
Market Watch
Despite a small decline in U.S. job openings in August, the labor market is sizzling and most industries still have their “help wanted” shingles out. Credit a sturdy and steadily growing economy in its ninth year of expansion.
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11 Oct 4:02pm Updated Bond Report: Treasurys see muted trade after Fed minutes point to rate hikes amid low inflation
Market Watch
Treasury yields were mixed on Wednesday after the release of minutes from the Federal Reserve’s September policy meeting, which revealed some members of the interest-rate setting body wanted to see further economic data before raising rates.
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11 Oct 3:51pm The Wall Street Journal: Trump said to pick John Kelly aide Nielsen to run Homeland security
Market Watch
President Donald Trump plans to name cybersecurity expert Kirstjen Nielsen as his next secretary of homeland security, administration officials said, putting a low-profile figure into a critical job after John Kelly was named White House chief of staff.
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11 Oct 3:44pm The New York Post: Boy Scouts of America not just for boys anymore — membership opening to girls
Market Watch
Starting next year, the organization says, girls will be welcome to join Cub Scouts programs. Older girls will then be allowed to join a program enabling them to earn the organization’s highest rank of Eagle Scout starting in 2019.
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11 Oct 3:26pm Trump Today: Trump Today: President threatens NBC’s license after ‘tenfold’ nuke report
Market Watch
President Donald Trump threatened NBC on Wednesday after saying the network aired a false story about him, discussed trade with Canadian Prime Minister Justin Trudeau at the White House and was getting ready to give a tax speech in Pennsylvania.
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11 Oct 3:05pm Currencies: Dollar maintains losses after Fed minutes
Market Watch
The U.S. dollar was weaker versus its major rivals on Wednesday after the minutes of the latest Federal Reserve meeting hit the market, which showed that Fed officials believed interest rate hikes but worried about low inflation.
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11 Oct 3:04pm Outside the Box: How robo advisers put Richard Thaler’s Nobel-prize winning ideas into action
Market Watch
Attention to investing behavior can improve your financial life, writes Dan Egan.
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11 Oct 2:59pm Updated These firms may be making it harder for your boss to pay off your debt
Market Watch
Glitches may be keeping student loan repayment from becoming the next 401(k)
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11 Oct 2:52pm Metals Stocks: Gold settles lower, then recovers some lost ground after Fed minutes
Market Watch
Gold prices settle lower Wednesday for the first time in four sessions, then recover some lost ground in electronic trading after minutes from the Federal Reserve’s September meeting show some officials from the central bank questioning the need for an interest-rate hike in December.
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11 Oct 2:46pm Market Snapshot: Stock market flirts with records as Fed minutes strike cautious tone on rates
Market Watch
U.S. stock benchmarks were flirting with fresh records Wednesday as minutes from the Federal Reserve’s September meeting indicated caution among policy makers on the next interest rate hike which the market had widely expected in December.
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11 Oct 2:44pm The Ratings Game: Nutanix shares climb to 7-month high as analysts predict software-only pivot
Market Watch
Nutanix Inc. shares extended strong gains Wednesday, after analysts said the enterprise-computing company’s pivot to a software-only model that should boost margins is not factored into the current stock price and pose a greater challenge to VMware Inc.
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11 Oct 2:43pm Teenagers, just like their parents, crave this one status symbol more than ever before
Market Watch
A new report by Piper Jaffray explores the shopping habits of teens.
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11 Oct 2:38pm The Fed: December rate hike might not be automatic, minutes of last month’s meeting show
Market Watch
Federal Reserve officials said a December rate hike was not a slam dunk, minutes of the last month’s policy meeting show
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11 Oct 2:35pm Updated Pizza Hut is using materials found in space to get pizza delivered in oven-fresh condition
Market Watch
Pizza Hut is launching a new pizza pouch as the restaurant sector turns its attention to growth in delivery demand
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11 Oct 2:03pm The Fed: December rate hike not automatic, minutes of last month’s meeting show
Market Watch
Federal Reserve officials said a December rate hike was not a slam dunk, minutes of the last month’s policy meeting show
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11 Oct 1:58pm The New York Post: Cub Scouts to admit girls, Boy Scouts of America announces
Market Watch
Boy Scouts of America says its board of directors unanimously approved a proposal to admit girls the Cub Scouts program.
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11 Oct 1:36pm The Ratings Game: Wal-Mart’s ‘sense of urgency’ triggers flood of stock price-target increases
Market Watch
Wal-Mart’s stock rallied to a 20-month high after a large number of analysts raised their price targets following the retail giant’s investor gathering.
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11 Oct 1:20pm Market Extra: Mexican peso holds near 5-month low amid uncertainty over Nafta
Market Watch
Renegotiations of the North American Free Trade Agreement between Mexico, the U.S. and Canada have become more contentious lately, as U.S. official float a an automatic sunset provision that would weaken the agreement and potentially roil respective currencies in the region.
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11 Oct 1:18pm Project Syndicate: Many economists are still hostile to Nobel winner Richard Thaler’s work
Market Watch
Adding psychology to the study of economics muddies the waters, they say. By Robert J. Shilller.
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11 Oct 1:02pm Capitol Report: The fuzzy math behind Trump saying corporate tax cut leads to ‘$4,000 pay raise’
Market Watch
President Donald Trump is preparing to pitch what he’s calling a “$4,000 pay raise” that would result from his tax plan, in a speech late Wednesday in Pennsylvania. But some economists are already saying that promise makes no sense.
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11 Oct 12:54pm With climate change and sprawling property development, wildfires are here to stay
Market Watch
Wine country was the most recent victim of California wildfires, but the state is still cleaning up from previous fires.
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11 Oct 12:45pm Sears Canada approves plan to liquidate most of its assets
Market Watch
The board of Sears Canada Inc. has approved a plan to liquidate its assets and wind down after rejecting a private-equity backed takeover plan from its top executive.
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11 Oct 12:43pm Market Extra: Investors jump into financial ETF ahead of bank earnings
Market Watch
The financial sector is set to kick off the third-quarter earnings season over the coming days, and from the looks of it, investors are more than ready for it.
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11 Oct 12:35pm Europe Markets: Spanish stocks rally to the close as worries over Catalan independence ease
Market Watch
The IBEX stock benchmark bounces higher after Catalan leader Carles Puigdemont suspends an official declaration for a split for now.
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11 Oct 12:30pm Harry Boxer’s four stocks to watch today
Market Watch
In focus: Diodes, Nutanix, Pure Storage and Abeona Therapeutics.
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11 Oct 12:00pm NewsWatch: This Dow company is ready to go all-in against Amazon
Market Watch
Wal-Mart has a better shot at challenging Amazon than any other retailer, says Nigam Arora.
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11 Oct 11:54am Updated Spain ‘nuclear option’ on table as confusion over Catalan independence hangs in the air
Market Watch
The Spanish government flexed its muscles toward the rebellious Catalonia on Wednesday, taking the first steps toward stripping the region of its autonomy a day after the Catalan president declared a sort of pre-independence.
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11 Oct 11:51am London Markets: FTSE 100 ends slightly lower, but keeps record high in sight
Market Watch
U.K. stocks traded in tight ranges on Wednesday as investors waited for new catalysts to send the markets higher and break into fresh record territory.
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11 Oct 11:50am Updated Caroline Baum: 5 reasons Trump will tell Yellen: ‘You’re fired! (and 5 reasons he won’t)
Market Watch
Caroline Baum offers five reasons Donald Trump will offer Janet Yellen another term as Fed chair, and five reasons he won’t.
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11 Oct 11:50am Forecaster of the Month: Biggest risk to economy is policy error, top forecasters say
Market Watch
With the U.S. economy on course for more steady but unspectacular growth, the major risk is a policy error, said the two men who shared the Forecaster of the Month award.
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11 Oct 10:55am Why forest kindergartens are the best schools for our young kids
Market Watch
What if there were a better way to do early childhood education?
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11 Oct 10:54am Updated Eminem rips into Trump in freestyle rap during BET Hip-Hop Awards
Market Watch
Rapper criticizes the president’s plans for building a wall, attacks on the NFL and tax plan in four-and-a-half minute video
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11 Oct 10:49am Currencies: Dollar slips for fourth straight day as traders await Fed minutes
Market Watch
The dollar trades in tight ranges on Wednesday as traders waited for minutes from the Federal Reserve’s latest meeting to get a steer on future monetary policy.
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11 Oct 10:48am Updated Market Snapshot: Stock market fights to scale new heights with Fed minutes, earnings ahead
Market Watch
U.S. stock benchmarks on Wednesday trade little changed, with the Dow industrials drifting around record territory, as investors await the release of minutes from the Federal Reserve’s September meeting.
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11 Oct 10:45am Only 27% of workers do this one really healthy thing on vacation
Market Watch
Companies should be worried about their employees’ vacation habits.
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11 Oct 10:43am Metals Stocks: Gold prices retreat as traders await Fed minutes for policy clues
Market Watch
Gold prices trade slightly lower Wednesday, threatening to halt a multisession climb as investors await minutes from the Federal Reserve’s most recent policy-setting gathering.
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11 Oct 10:35am FA Center: Tony Robbins: 7 questions you must ask to keep a financial adviser honest
Market Watch
Take charge of your money before giving it to a professional manager, Tony Robbins writes.
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11 Oct 10:01am Market Extra: Wall Street is underestimating just how volatile 3rd quarter earnings season could be
Market Watch
Third-quarter earnings season is widely expected to extend the stock market’s streak of better-than-expected corporate results, potentially setting shares up for even more gains, but that doesn’t mean that the recent trend of quiet trading will continue.
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11 Oct 10:00am Updated FA Center: Tony Robbins: 7 questions you must ask a financial adviser
Market Watch
Take control of your money before giving it to a professional manager, Tony Robbins writes.
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11 Oct 9:54am Updated Market Extra: Overseas demand set to drive third-quarter earnings
Market Watch
Third quarter earnings season is expected to highlight a divide between companies that earn most of their revenue overseas and those that are focused on markets in the U.S.
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11 Oct 9:53am The New York Post: Harvey Weinstein’s wife Georgina Chapman is leaving him
Market Watch
Harvey Weinstein’s wife is dumping the disgraced moviemaker amid his spiraling sex scandal — saying she needs time away from him to care for their kids.
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11 Oct 9:52am Updated The Tell: No World Cup for U.S. men’s soccer team — why that’s a ‘disaster’ for 21st Century Fox
Market Watch
Twenty-First Century Fox’s big bet on soccer suddenly doesn’t look as smart. The entertainment giant spent big on World Cup broadcast rights, but many Americans just might tune out the 2018 tourney after the U.S. men’s team failed to qualify.
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11 Oct 9:51am Bond Report: Treasury yields slightly lower as investors wait to pore over Fed minutes
Market Watch
Treasury yields edged lower on Wednesday ahead of the Fed minutes from the September policy meeting, which could give further clues on upcoming monetary policy.
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11 Oct 9:19am Updated Beat the System: Donna Karan’s defense of Weinstein could throttle this company’s market value
Market Watch
G-III Apparel Group took an ill-timed $670 million gamble on Donna Karan International. By Brett Arends.
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11 Oct 9:09am Updated Need to Know: Vanguard is nearing the $5 trillion milestone — but here’s where the rush could end
Market Watch
Investors, all in on no-fuss index funds that make it easy to invest in the S&P 500 and big indexes are counting on this bull market to just keep going. Until it doesn’t.
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11 Oct 9:07am Updated Metals Stocks: Gold prices slip as traders await Fed minutes for policy clues
Market Watch
Gold futures trade slightly lower early Wednesday, threatening to halt a multisession climb as investors await minutes from the Federal Reserve’s most recent policy-setting gathering
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11 Oct 9:00am NewsWatch: Vanguard is nearing the $5 trillion milestone — but here’s where the rush could end
Market Watch
Investors, all in on no-fuss index funds that make it easy to invest in the S&P 500 and big indexes are counting on this bull market to just keep going. Until it doesn’t.
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11 Oct 9:00am Ransomware market soars 2,500% amid high-profile attacks, rise of cryptocurrencies
Market Watch
Demand for ransomware, the type of malware that encrypts your computer files and make them useless unless you pay up, is seeing a boom in 2017, helped along by the emergence of cryptocurrencies and anonymity services.
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11 Oct 8:59am Updated Bank earnings: ‘lower for longer’ means buybacks will continue
Market Watch
Analysts expect another quarter of tepid growth as interest rates, lending, and investment banking remain subdued.
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11 Oct 8:48am The Ratings Game: Apple stock could get a trillion-dollar tailwind from Trump’s tax reforms, says RBC
Market Watch
U.S. tax reform may be the golden ticket for Apple’s push toward a trillion-dollar market cap, said analysts at RBC in a note to clients.
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11 Oct 8:45am Key Words: Trump’s tweet really was about Corker’s height, newspaper report suggests
Market Watch
He didn’t spell it L-I-T-T-L-E, as is customary, or even L-I-apostrophe-L, but, according to a New York Times report late Tuesday, President Donald Trump’s tweeted reference to the chairman of the Senate Foreign Relations Committee as “Liddle’ Bob Corker” was, indeed, about stature.
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11 Oct 8:43am Capitol Report: Trump wanted tenfold increase in nuclear arsenal | Tax speech to tout worker benefits
Market Watch
President Trump reportedly wanted a tenfold increase in the U.S. nuclear arsenal; a tax speech by the president on Wednesday will tout worker benefits of cutting the corporate rate; the administration seeks a loan for Puerto Rico; and more.
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11 Oct 8:32am Updated It would take a 50% hike in income tax to fund our deficit
Market Watch
At some point — even though Republicans are jawboning hard about cutting taxes now — we are going to have to raise taxes in order to fund Social Security and Medicare, writes John Mauldin.
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11 Oct 8:27am In One Chart: A Boeing supplier has dived 34% following news it faked inspection data
Market Watch
It’s another embarrassment for Japan’s industrial heavyweights — and a potential headache for Boeing. Shares in Kobe Steel Ltd., Japan’s third-largest steelmaker, have tumbled 34% so far this week as investors react to its growing scandal.
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11 Oct 8:19am The Wall Street Journal: OPEC oil output rose in September despite production curbs
Market Watch
OPEC crude oil output jumps by nearly 90,000 barrels a day in September, complicating the cartel’s effort to limit output and cut into a global supply glut.
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11 Oct 7:46am Updated This trauma surgeon, who was shot as a teenager, wants you to know gun violence happens every day
Market Watch
The experience spurred Johns Hopkins’ Dr. Joseph Sakran to become a trauma surgeon. He often operates on victims of gun violence.
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11 Oct 7:44am Updated Market Snapshot: U.S. stock futures fight for direction with Fed minutes, earnings on tap
Market Watch
U.S. stock futures on Wednesday point to little change at the open, putting the Dow industrials on track to stay near the prior day’s record close.
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11 Oct 7:21am Updated California wildfires threaten thousands of homes worth tens of billions, CoreLogic says
Market Watch
Thousands of homes stand in the way of the wildfires in California and could cost in the tens of billions to fully reconstruct, according to an analysis out Tuesday.
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11 Oct 6:52am Updated Americans are getting comfortable with debt again, raising risk for financial institutions, Moody’s says
Market Watch
Households in certain income categories are increasing their debt — or taking on especially high amounts, which may pose a risk to banks and securitizations, according to a credit-ratings agency.
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11 Oct 6:51am Updated The Ratings Game: Tesla Model 3 issues could delay or kill its ‘iPhone moment,’ analysts say
Market Watch
Tesla Inc.’s early issues with producing the Model 3 could delay or even destroy the chances for the electric car maker’s ‘iPhone moment,” Barclays analysts said in a note Monday morning.
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11 Oct 6:48am Currencies: Dollar slips for fourth day with Fed minutes in focus
Market Watch
The dollar traded in tight ranges on Wednesday as traders waited for minutes from the Federal Reserve’s latest meeting to get a steer on future monetary policy.
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11 Oct 6:14am The Wall Street Journal: Surpreme Court dismisses Trump travel ban case
Market Watch
Justices say the case is moot in light of administration’s new travel ban, which added North Korea and Venezuela and which is already being challenged in lawsuits.
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11 Oct 5:39am London Markets: FTSE 100 in holding pattern, with record high in sight
Market Watch
U.K. stocks traded in tight ranges on Wednesday as investors waited for new catalysts to send the markets higher and break into fresh record territory.
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11 Oct 5:20am Outside the Box: Thaler’s Nobel Prize tells investors to mind their manners around money
Market Watch
Attention to investing behavior can improve your financial life, writes Dan Egan.
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11 Oct 5:13am The Wall Street Journal: Alibaba to triple investment in cutting-edge research to $15 billion
Market Watch
The Chinese e-commerce giant says it will nearly triple spending on R&D over the next three years, as it seeks to keep pace with Western rivals such as Google and Amazon.
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11 Oct 5:11am Asia Markets: Asian markets achieve milestones as monthlong rally continues
Market Watch
The monthlong global stock rally continued Wednesday, with Asian stocks mostly higher and Japan’s Nikkei nabbing its best close since 1996.
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11 Oct 5:04am The Wall Street Journal: The market for cyberinsurance is soaring
Market Watch
One research firm forecasts the global market for cyberinsurance may reach $14 billion by 2022
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11 Oct 5:03am NerdWallet: 10 small cities that are great for raising a family
Market Watch
Top options in the U.S. that offer the best combination of affordability, prosperity, and family-friendliness.
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11 Oct 5:02am What to do if, like Ivana Trump and Melania, someone else tries to steal your thunder
Market Watch
Don’t fuel the rumor mill or commit unflattering thoughts to email.
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11 Oct 4:57am Next Avenue: When it comes to financial advice, stay away from these 4 kinds of people
Market Watch
Unsolicited financial advice might seem harmless, but blindly following it can send you on a scary path.
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11 Oct 4:40am Europe Markets: Spanish stocks rally as worries over Catalan independence ease
Market Watch
The IBEX stock benchmark bounces higher after Catalan leader Carles Puigdemont suspends an official declaration for a split for now.
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11 Oct 4:21am Updated Grow: Why I’m celebrating my zero net worth
Market Watch
Monitoring your financial net worth regularly is one of the best moves you can make.
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11 Oct 4:21am Updated How the higher education system is holding Latino workers back
Market Watch
Many Latino students who go to college attend the open-access colleges white students are fleeing.
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11 Oct 4:18am Updated After the Equifax breach, this is how many people have checked their credit
Market Watch
Many still haven't checked their credit scores or reports
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11 Oct 3:00am Market Extra: Japan’s Nikkei closes at highest level in 20 years
Market Watch
Some money managers say they believe Japan is finally ready to break out of a rut that is more than a quarter-century old, as Japan’s benchmark hits a two-decade closing high.
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