Bloomberg:
- Puerto Rico's Economic Crisis Grows in Maria's Wake. Hurricane Maria is Puerto Rico’s worst in nearly a century, a double blow as it follows the destructive Hurricane Irma by just two weeks. The costs, both human and financial, have only begun to come into view. This much is certain: the U.S. territory, bankrupted by runaway debt, now confronts an even deeper economic crisis. Four months after the island’s government sought protection from creditors in the nation’s largest municipal insolvency, the odds of a speedy resolution now appear to be dimming. President Donald Trump said Thursday he plans to visit the island and declared Puerto Rico a disaster zone, which helps clear the way for federal assistance.
- Take the Fed's Dot Plot Forecast in Stride, Deutsche Bank Says. (video) The bond market needs to take a chill pill when it comes to the dot plot -- the Federal Reserve’s quarterly outlook for policy rates, which was updated Wednesday. That’s what Torsten Slok, chief international economist at Deutsche Bank AG, says given that with Vice Chairman Stanley Fischer attending his final FOMC meeting this week, four of the seven board seats will be empty. “For markets, this might not seem important here and now, but it is pretty clear that dramatic changes are coming to the Fed before the end of the year, which has significant implications” including on the leadership’s outlook for inflation, wrote Slok in a note. “It almost makes you wonder if the dot plot and forecasts the Fed released yesterday have any value for markets.”
Wall Street Journal:
- The Republicans Who May Save ObamaCare. Start with Rand Paul. Can he vote ‘no’ on Graham-Cassidy after voting ‘yes’ in July?
- With Timing Tight for GOP’s Health-Law Repeal Effort, Opponents Rush to Mobilize. Critics step up attacks on latest bill amid narrow window for Senate vote.
- Puerto Rico Braces for More Flooding as Maria Dumps More Rain. The most powerful storm to hit the U.S. territory in almost a century has knocked out power across the entire island.
- Amazon(AMZN) Puts Whole Foods on Fast Track to Conventional Supermarket. Specialty grocer will no longer allow ‘brand advocates’ in stores, a potential blow to local sellers.
MarketWatch.com:
- Nvidia(NVDA) investors should ‘ignore the noise’ about a Tesla(TSLA)-AMD(AMD) partnership.
- Banks lead European stocks higher after Fed hints at rate hike. The Stoxx Europe 600 index SXXP, +0.24% rose 0.2% to 382.88, closing at its highest level since July 20. On Wednesday, the benchmark closed fractionally lower as investors marked time before the highly anticipated Fed policy announcement.
No comments:
Post a Comment