- Trump, Clinton press closer to general election showdown (AP)
- Acela primaries: Winners, losers (Hill)
- Trump Says He's `Presumptive Nominee' as Clinton Wins Four (BBG)
- In the battle for Hollywood endorsements - and cash - Clinton rules (Reuters)
- U.S. Oil Rises Above $45 a Barrel for First Time Since November (BBG)
- Spin: Near-Zero Growth Happens Often in Slow-Motion U.S. Economy (BBG)
While YHOO shares have jumped after the announcement of several potential bidders (including Time Inc, Verizon, Bain, TPG, and Google), it has merely recovered the day's losses.
Propped up by the Chinese central bank and by a generous Chinese finance ministry, with further hopes a backsliding European economy will mean even more easing by Draghi, the risk on mood is back: "People are willing to take risk again,” Karl Goody, a private wealth manager at Shaw and Partners Ltd. in Sydney told Bloomberg. “People are looking at the selloff this year and saying: enough is enough, there’s been enough pain now."
- Futures rise as oil gains hold steady (Reuters)
- China promises economic stability as G20, parliament loom (Reuters)
- Obama scolds Senate Republicans for Supreme Court threat (Reuters)
- China Deploys Missiles on Disputed South China Sea Island (WSJ)
- China Ramps Up Rhetoric, Plans New Steps to Juice Up Economy (BBG)
- China Loses Control of the Economic Story Line (WSJ)
What are the odds of another horrendous experience with a company who happens to be a subsidiary of Comcast?
Comcast is penny wise, pound foolish.
My overriding theme and the central drama for the coming year is that unexpected events can take on greater importance as the Federal Reserve ends its near-decade-long Zero Interest Rate Policy. Consensus premises and forecasts will likely fall flat, in a rather spectacular manner. The low-conviction and directionless market that we saw in 2015 could become a no-conviction and very-much-directed market (i.e. one that's directed lower) in 2016. There will be no peace on earth in 2016, and our markets could lose a cushion of protection as valuations contract. (Just as "malinvestment" represented a key theme this year, we expect a compression of price-to-earnings ratios to serve as a big market driver in 2016.) In other words, we don't think 2016 will be fun.
We apologize, but 2015 had so many negatives that we’re having trouble seeing the positives. It’s like we’re on the Titanic, and it’s tilting at an 85-degree angle with its propellers way up in the air, and we’re dangling over the cold Atlantic trying to tell ourselves: “At least there’s no waiting for the shuffleboard courts!” Are we saying that 2015 was the worst year ever? Are we saying it was worse than, for example, 1347, the year when the Bubonic Plague killed a large part of humanity? Yes, we are saying that.
As concerning and hateful as so much of Trump’s commentary is, we can at least be sure he speaks from his own twisted mind. This is precisely why he appeals to so many people in this day and age of completely captured politicians. People like the fact that every word out of his mouth hasn’t been carefully placed there by some billionaire patron. On the exact opposite end of that spectrum we find Marco Rubio. A man so incapable of free-thought, he becomes the ideal target for billionaires looking to craft the perfect puppet. Forget Jeb Bush, Marco Rubio is now the establishment GOP’s pick, and they will do everything in their power to get him the nomination.
- Anti-Trump Effort Launches Super PAC (WSJ)
- Muslims decry Trump's proposal to keep them out of US (AP)
- Debate Heats Up Over No-Fly List, Gun Sales (WSJ)
- OPEC Takes Down Oil Majors as Lower-for-Even-Longer Kicks In (BBG)
- Chinese Companies Are Trapped in IPO Logjam (WSJ)
- Republican Ted Cruz vaults into first place in new Iowa poll (Reuters)
- European stocks up, oil slides as concerns ease over Russia-Turkey tension (Reuters)
- ECB discusses two-tiered bank charges, broader bond buys (Reuters)
- New agonies, alliances as Fed debates post-liftoff plan (Reuters)
- A New Military Power Rises in the Mideast, Courtesy of One Man (BBG)
- Russia's Gazprom says halts gas supplies to Ukraine over payment (Reuters)
- Other central banks set to act, but Swiss policy cupboard bare (Reuters)
Much of the national debate about widening inequality focuses on whether and how much to tax the rich and redistribute their income downward. But this debate ignores the upward redistributions going on every day, from the rest of us to the rich. These redistributions are hidden inside the market. The only way to stop them is to prevent big corporations and Wall Street banks from rigging the market.
Republicans Declare War On CNBC: Suspend NBC Relationship Over CNBC's "Downright Offensive" QuestionsSubmitted by Tyler Durden on 10/30/2015 13:27 -0400
Nearly a year after CNBC said it would no longer rely on Nielsen to measure its daytime audience (due to the collapse in viewership we had previously profiled), it has managed to do it again, only this time slamming not the financial cheerleading cable network but its Comcast affiliate, NBC News, whom its just cost hundreds of millions in advertising revenues after moments ago Republican National Committee Chairman Reince Preibus announced he was suspending the partnership with NBC News for the Republican primary debate at the University of Houston on February 26, 2016.
- Global Stock Markets Edge Higher Though Global Growth Concerns Weigh (WSJ)
- Nikkei up 1.9% because Japan export growth slows sharply, raising fears of recession (Reuters)
- Saudis Risk Draining Financial Assets in 5 Years, IMF Says (BBG)
- Syria's Assad flies to Moscow to thank Russia's Putin for air strikes (Reuters)
- US Prosecutor Preet Bharara Probing Daily Fantasy-Sports Business (WSJ)
- Syrian army denies Russian ground forces fighting in Syria (Reuters)