Today's Headlines

Bloomberg:

• Hollande Sees EU in Danger Amid Talks With Merkel to Plot Future. French President Francois Hollande and German Chancellor Angela Merkel urged fellow European Union leaders to agree on a post-Brexit road map as economists warn that a weak response risks holding back growth and plunging the EU into extended malaise. “This isn’t one more crisis, this could very well be the crisis threatening its very existence,” Hollande told reporters in Paris on Thursday alongside Merkel on the eve of a post-Brexit summit of EU leaders in Bratislava. “Europe finds itself at a very decisive point in time,” the German leader said. All EU leaders except Britain’s will meet in the Slovak capital on Friday to focus on a common agenda after the U.K. voted in June to leave the 28-member bloc. As Prime Minister Theresa May’s government struggles to work out how to manage Britain’s departure, the remaining 27 are seeking common approaches on items such as defense, economic growth and border security.
• Eight Years After Lehman, Europe Banks Far From Recovery: Chart.
• Europe Stocks Rebound as Gains Accelerate in Final Trading Hour. (video) European stocks rebounded from a selloff that sent equities to an almost six-week low, with gains accelerating in the final hour of trading. A weakening pound following the Bank of England’s update boosted U.K. exporters, while European equities also took their cue from rising U.S. shares. The Stoxx Europe 600 Index rose 0.6 percent at the close, the most in almost two weeks, halting its longest stretch of losses since June.
• Apple(AAPL) Rally Masks Latest Weakness in U.S. Stock Indexes: Chart.
• Warren: Next Administration Should Probe, Maybe Jail Wall Street Bankers. (video) In trying to reopen the investigation, she’s telegraphing her new Senate tactics—and sending a message to Hillary Clinton.

CNBC:

• Wells Fargo(WFC) fallout: More pressure to break up the banks? (video) Among the potential outcomes: Pressure for clawbacks and an emboldened CFPB.
• Bridgewater to lay off employees in 'renovation'.
• Trump: The Fed is political 'beyond anything I would have ever thought possible'. (video)

Zero Hedge:

• Late Stage Lying: Pneumonia Theory vs. Parkinson’s Disease Theory; Doctors Chime In.
• Violent Clashes Break Out Between Locals And Refugees In German Town. (video)
• YouTube Has Quietly Begun "Censoring" Journalists Who Criticize Government.
• 5 Core Economic 'Facts'.
• This Could Be A Problem... (graph)
• Deconstructing The "Median Income Bullshit". (graph)
• CLSA: "One Major Japanese Bank Is Borrowing $60 Billion From Money Market Funds". (graph)
• Business Inventories, Sales Disappoint; Leave Ratio Deep In Recession. (graph)
• What "Obama Rebound"? Average Weekly Wages Declined In Most US Counties.
• A Chart Which Peddles Fiction. (graph)
• Empire Fed Mysteriously Rises Even As All Components Deteriorate. (graph)
• Retail Sales Growth Tumbles To 6 Month Lows, Stuck In Recession Territory. (graph)
• Initial Jobless Claims Confirm Hillbama's "Everything Is Awesome" Meme; But... (graph)

Business Insider:

• Here's everything Donald Trump just promised in his major speech on the economy.
• Here's everything Donald Trump just promised in his major speech on the economy.
• The largest public university system in the US banned a type of question from its application that could affect thousands of prospective students. The State University of New York system voted Wednesday to remove questions about criminal history from applications to its schools, Syracuse.com reported.
• After riding in Uber's self-driving car, I think Tesla will have some serious competition.

The Telegraph:

• Bond yields are surging despite deflation, and that is dangerous.