Bloomberg:
- Wall Street Vets From Dalio to Gundlach Warn on Emerging Markets. (video) More investors are joining the cast of Wall Street veterans from Jeff Gundlach to Ray Dalio in warning that risky assets are overvalued. They point to rising global turmoil underscored by the recent terrorist attacks in Barcelona and the racially charged violence in Charlottesville, Virginia, as well as valuations that no longer compensate for potential flareups in North Korea and Venezuela. That’s not to mention the unpredictability in the U.S., where President Donald Trump is feuding with members of Congress before a critical vote to increase the country’s debt ceiling.
- Stocks Mixed as Traders Weigh Harvey; Gas Surges. (video) U.S. stocks were mixed, oil declined and gold rose as investors weighed the damage from Tropical Storm Harvey. The euro held steady after rising to its strongest level since January 2015 against the dollar. Gasoline surged to the highest in two years and crude oil fell as flooding from Harvey inundated refining centers along the Texas coast, shutting more than 10 percent of U.S. fuel-making capacity. Insurers were among the biggest decliners Monday in the S&P 500 Index, with Travelers Cos. dropping as much as 3.2 percent and Progressive Corp. down as much as 2.9 percent. The Stoxx Europe 600 Index fell 0.5 percent. The MSCI World Index of developed countries advanced 0.1 percent.
Wall Street Journal:
- Texas Hit Hard by Tropical Storm Harvey: Live Coverage.
- Harvey to Hit Houston Again. The tropical storm is headed back into the Gulf of Mexico, and is expected to make landfall closer to the flooded city.
- Freight Companies Scramble to Reroute Goods in Wake of Harvey. Trucking fleets, railroads and shipping lines look for alternative routes as Tropical Storm Harvey disrupts a major thoroughfare.
- Amazon(AMZN) Doesn’t Need to Make Money on Groceries, Putting Pressure on Wal-Mart, Kroger. By cutting prices on staples at Whole Foods, e-commerce giant looks to boost traffic at rivals’ expense.
- U.S. Navy Finds Remains of All Missing USS John McCain Sailors. The 10 are identified as junior-ranking servicemen mostly working as electronics and communications technicians.
- Investors Have Pulled $30 Billion from the Stock Market.
Zero Hedge:
- Shocking Drone Footage Shows Harvey's "Unprecedented" Devastation, "No Parallel To Any Rainstorm In US History". (video)
- "You Couldn't Dream This Up": FEMA Expects Over 450,000 Harvey Victims, 30,000 To Seek Shelter.
- Amazon(AMZN) Slashes Whole Foods Prices As Much As 43%, Channel Checks Reveal.
- Texas Activates All 12,000 National Guardsmen "In Response To Harvey Devastation".
- Bay Area TV Anchor: "I Experienced Hate First Hand Today In Berkeley" From Antifa. (pic)
- US Debt Ceiling, The Wall, Runaway Spending, & The Lack Of Evidence Of Concern... So Far. (graph)
- Spot Gold Spikes Above $1300 To Highest Since Election. (graph)
- Oil Tumbles Amid Speculation Up To 30% Of US Refining Capacity Could Be Shut. (graph)
- Chinese Shares Surge As Beijing "Plunge Protection Team" Boosts Stock Holdings. (graph)
Business Insider:
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