TOP MARKETS NEWS: Week 10/15 – 10/21

Weekned 10/20 & 10/21

Germany urges global minimum tax for digital giants Amazon, Apple and Google – dailymail
NYC Home Sellers Are Cutting Prices Like It’s 2009—And Then Some – Bloomberg
Goldman Says Stocks May Drag on U.S. Growth – Bloomberg

 

Friday 10/19

China growth slowest since financial crisis as trade war looms – business live – guardian

“These Are All Starting To Crack”: Bank of America Spots 4 Bearish Anomalies – Zerohedge
The Canary In Coalmine: Bank OZK Plummets After Shock Commercial Real Estate Write Downs – Zerohedge
Existing Home Sales Drop For 7th Straight Month As Homebuilders Stocks Collapse – Zerohedge
Mercedes Massacre: Daimler Plummets After Slashing Outlook; European Auto Sector Crashes – Zerohedge
China’s Growth Hits Slowest Pace in a Decade – nyt
Stagflation Looms As China’s Economy Suffers Weakest Growth Since Q1 2009 – Zerohedge

 

 

Thursday 10/18

Business Live – guardian

EU Slams Italy’s “Unprecedented” Budget Deviation, Euro Tumbles – Zerohedge
US Stocks Plunge, Italian Risk Spikes As Draghi Threatens Italy – Zerohedge
Dollar Libor Jumps To Fresh 10 Year High, Adding To Funding Headwinds – Zerohedge

How parents pay for their kid’s college – cnbc
May Says U.K. Could Extend Brexit Transition to Ease Deadlock  – Bloomberg
Goldman Sachs sees a correction coming for chipmakers but still likes Nvidia – cnbc
Malaysia Cuts Growth Target, Widens Deficit Goal in Road Map – Bloomberg
Ex-Fed chief Greenspan: This is the tightest labor market I’ve ever seen – cnbc
Cancer-therapy provider Endocyte spikes 50% after Novartis agrees to buy it for $2.1 billion – businessinsider
Five Things You Need to Know to Start Your Day – Bloomberg
HSBC set to become first foreign company to list in China – ft
Global trade wars risk ‘millions of jobs’: WTO chief – channelnewsasia
China’s stocks fall to 4-year low amid fears of forced selling – scmp

Asian markets pull back, led by sharp declines in China – Marketwatch

Australia’s unemployment rate falls sharply – Marketwatch
Japan exports drop for 1st time in nearly 2 years – Marketwatch

 

 

Wednesday 10/17

Business Live – guardian

FOMC Minutes Signal ‘Hawkish’ Fed Ready To Hike Above Neutral – Zerohedge
Canadian market celebrates pot stocks on first day of legal recreational cannabis sales – Marketwatch

The Trump tax cuts were supposed to be a big win for the GOP – but now they might not be enough to save the Republican House majority – cnbc

US housing starts fall more than expected in September – cnbc
The Future of the Cloud Depends on Magnetic Tape – Bloomberg
Annual inflation up to 2.1% in the euro area – eurostat
UK inflation drops sharply and unexpectedly as Brexit price squeeze slows down – businessinsider
Five Things You Need to Know to Start Your Day – Bloomberg
‘TITANIC RISKS’: S&P warns of China’s hidden debt that will take decades to address – businessinsider

 

 

Tuesday 10/16

Markets edgy ahead of UK jobs and wages report – business live – guardian

IBM is shrinking again, and so is its stock price – Marketwatch
Chip stocks bounce back, but Morgan Stanley has concerns about the future – Marketwatch

Dow ends nearly 550 points higher as upbeat earnings send stocks soaring – Marketwatch

China & Japan Dump Treasuries As Dollar’s Reserve Status Slumps To 5 Year Lows – Zerohedge

Hungarian Central Bank Stuns, Announces 10-Fold Jump In Gold Reserves – Zerohedge
Investors Are Now the Most Bearish on Global Economy Since Crash – Bloomberg
“What Do They Know?” – BlackRock Exposes Institutional Exodus From Stocks – Zerohedge
Industrial Production Growth Beats But Slows To Weakest Since May – Zerohedge
Goldman Sachs profit rises 20.5 percent – Reuters

China’s Stock Rout Puts $613 Billion of Share Pledges at Risk – Bloomberg

Investment banking boosts Morgan Stanley revenues – ft

$6 trillion of local government debt may be lurking under the surface in China: S&P – cnbc
Italian Assets Advance After Coalition Submits Budget Plan to EU – Bloomberg
The economist that predicted the housing crisis warns the Fed is engaging in behaviour that’s almost always caused a recession – businessinsider

China’s consumer inflation jumps to 7-month high – Marketwatch
China’s slowing economy could be a problem for Apple – yahoo

 

 

 

Monday 10/15

Asian stock market losses mount amid fears over trade, oil and rates – business live – guardian

Saudis weigh saying Khashoggi was killed by mistake – Marketwatch
Italy’s government OKs draft budget that would widen deficit – Marketwatch

Core Retail Sales Drops By Most In 16 Months As Restaurant Spending Tumbles – Zerohedge

Sears Goes Bankrupt, Mired in Debt and Deserted by Shoppers – Bloomberg

SEARS FILES FOR CHAPTER 11 BANKRUPTCY AFTER IT CAN’T AFFORD TO PAY $134 MILLION DEBT, WILL CLOSE NEARLY 200 STORES – newsweek

Bank of America earnings’ jump, topping Wall Street estimates, as consumer credit improves – cnbc

Investors look to haven assets ahead of US trading – ft

Crypto Markets Roiled as Traders Question Tether’s Dollar Peg – Bloomberg

The US Fed might be about to change its strategy, and markets aren’t prepared – businessinsider

Saudi riyal at weakest since June 2017 in spot market – Reuters
Ratings downgrades and snap elections: Here’s what could happen next as Italy’s debt crisis mounts – businessinsider
Asian shares resume decline, Saudi tensions lift oil prices – Reuters
Global stock market sell-off resumes as Saudi sanction fears push oil higher – businessinsider