Tuesday, September 19, 2017

Today's Headlines

  • China Considers Opening Up to Foreign Electric Carmakers. China is discussing a plan to allow foreign carmakers to set up wholly owned electric-vehicle businesses in its free-trade zones in a major revision of a fundamental principle governing the country’s auto industry policy since the 1990s, according to company officials briefed on the matter. The plan, which is subject to change as a final decision hasn’t been made, could be put in place as early as next year, the people said, asking not to be identified as the deliberations are private. If the policy takes effect, it would be a landmark departure from the existing rules, which require foreign automakers to set up joint ventures with local counterparts.
  • Your Evening Briefing.
  • The Sizzling Stock Market Is Making Investors Uneasy. Bearish bets are also piling up among mega-cap stocks, the biggest contributors to U.S. equity gains this year. As the Nasdaq 100 Index rose to a new high on Sept. 13, demand for protection grew to the most in over a year on the most popular ETF tracking the index, the Powershares QQQ Trust.
  • FANG Stocks Take Repeated Hits and the World Keeps Spinning. You may have missed it, but the FANG block -- Facebook Inc., Amazon.com Inc. Netflix Inc. and Google parent Alphabet Inc. -- dropped almost 7 percent during the August selloff, while Apple Inc. was down 3.5 percent from its 2017 peak at its worst point. But even with all the carnage, the S&P 500 kept going up, climbing above 2,500 for the first time.
Wall Street Journal:
Zero Hedge:
  • Georgia Tech president: Unrest mainly caused by “outside agitators”. Georgia Tech president G.P. “Bud” Peterson said “outside agitators” were mainly to blame for the unrest that took place on campus Monday night. Peterson said in a letter to students, faculty and alumni Tuesday that a vigil held for a student shot and killed a Tech police officer Saturday night was disrupted “by several dozen others intent on creating a disturbance and inciting violence. We believe many of them were not part of our Georgia Tech community, but rather outside agitators intent on disrupting the event.” Peterson added they did not honor the memory of the student who was killed, Scout Schultz, with their actions.

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