Financial Markets and Economy
Bitcoin Is Suddenly Surging Again (Bloomberg)
And there are various theories behind the rise.
Fitbit smashes earnings expectations, says it's selling more shares, stock tanks (Business Insider)
Fitbit reported quarterly results on Monday afternoon that were better than analysts had forecast.
The maker of fitness trackers reported revenues of $409.3 million, up 168% year-on-year, and topping the consensus forecast for $359 million according to Bloomberg.
Alphabet fires back at EU antitrust officials, suggesting long battle for Google (Market Watch)
Google owner Alphabet Inc. GOOG, +1.45% GOOGL, +1.40% accused European Union regulators of making an unexplained about-face in their decision to file antitrust charges against the U.S. search giant, and warned that there was “no basis” for imposing fines, according to a redacted copy of Google’s response seen by The Wall Street Journal.
Fitbit Drops as Wearables Maker Plans Further Stock Offering (Bloomberg)
Fitbit Inc. dropped after the company said it planned to sell additional shares and that restrictions were lifted on employee stock sales. The maker of wearable devices raised its forecast and reported profit and revenue that beat analysts estimates.
Deutsche: Here are 32 great stocks to buy right now (Business Insider)
With the bull market now 6 1/2 years old, some of Wall Street's investing pros warn that it's a good time to begin preparing for an eventual end to the bull market.
Others think that you can stay bullish, but they recommend having greater exposure to some industries than others.
These technical charts say don’t fear the stock market pullback (Market Watch)
After one of the best months in four years for stocks, technical indicators for the S&P 500 point to a near-term pullback. But a BTIG strategist says any market selloff should be viewed as a buying opportunity.
Erdogan's Decisive Win: What Does It Mean for Turkey's Economy? (Bloomberg)
President Recep Tayyip Erdogan and the AK Party are back at the reins in Turkey after a landslide election win, and markets were celebrating on Monday. There are enough road-bumps ahead for the $720 billion economy to suggest the euphoria may not last too long.
October was a massive month for US stock market ETFs (Business Insider)
"U.S. stock ETFs took in $10 billion, nearly double the $6 billion total they had attracted this year until October," Bloomberg's Eric Bachunas writes. "The flows were no doubt sparked by the Federal Reserve’s decision not to raise interest rates in September, which helped trigger a sizable 8.5% jump in the S&P 500 Index. Until this point, the U.S. equity ETF market might have been described as "meh" compared with international developed markets, such as Europe and Japan, where central banks were in full-blown quantitative easing-mode, attracting ETF investors like moths to a light. In October, the opposite happened."
Breakout in Exxon’s stock a bullish sign for crude oil prices (Market Watch)
Exxon Mobil Corp.’s stock has climbed above three key technical levels, suggesting further gains ahead for the shares, and possibly for crude oil prices.
Valeant Gains as Citron Refrains From Making New Allegations (Bloomberg)
Valeant Pharmaceuticals International Inc. shares gained after stock commentary site Citron Research said it won’t release new allegations against the drugmaker, whose shares have plummeted amid scrutiny of its business practices.
Quebec sees no trade dispute risk around Bombardier investment (Business Insider)
Quebec is sure that its $1 billion lifeline for Bombardier Inc <BBDb.TO> will not result in any trade disputes triggered by concerns from the train and plane maker's rivals, the Canadian province's finance minister said on Monday.
"We have structured this as a separate company and a limited partnership between the government and Bombardier," said Quebec Finance Minister Carlos Leitão, speaking to media on the sidelines of the P3 2015 investment conference in Toronto.
An earnings recession is looming (Market Watch)
Third-quarter earnings are on track for the first earnings recession for S&P 500 companies since the Great Recession six years ago.
Hewlett-Packard's New Companies Advance in Post-Split Debut (Bloomberg)
Hewlett-Packard Co. investors bet on printers and PCs over the corporate-technology business, in the first trading since the company split up.
Square will IPO and begin trading the week before Thanksgiving (Business Insider)
Square, the digital-payment company founded by Jack Dorsey, will make its Wall Street debut and trade as a public company the week before Thanksgiving, according to CNBC.
Square is expected to set its initial-public-offering price range this week and will kick off its roadshow, in which management presents the company to potential investors, next week, CNBC said, citing anonymous sources.
Economic Report: U.S. manufacturers still struggling, ISM finds (Market Watch)
U.S. manufacturers are still struggling to expand and have curbed hiring in the face of a strong dollar and a cutback in investment by American energy producers.
SocGen Slams the Corporate 'Cheating' Season (Bloomberg)
Andrew Lapthorne, global head of quantitative strategy at Société Générale, has a certain disdain for the game of "lower and beat" that companies play with the analyst community each quarter.
UBS: We think this will go down as one of the longest US economic recoveries in history (Business Insider)
The economists at UBS are unfazed by the recessionary warning signs.
Gold slides to lowest settlement in a month (Market Watch)
Gold futures slumped Monday to their lowest settlement in a month, with precious metal remaining under pressure after the Federal Reserve last week surprised investors by hinting at a rate rise as early as next month.
Higher rates can be a headwind for commodities like gold that don’t bear interest.
Renzi's For-Sale List Too Short to Reach Italy's Debt-Cut Goals (Bloomberg)
Selling stakes in Italys postal service, state railroad and air-traffic controller might not be enough for Matteo Renzi, sending more state assets to the auction block to limit the national debt.
Politics
Republicans Aren’t Even Trying To Pretend To Care About The Latino Vote (Think Progress)
The Republican National Committee has suspended its partnership with NBC News moderators for the Republican primary debate in February 2016, potentially shutting out debate partners at Telemundo, the second-largest Spanish-language network, according to a letter posted Friday by RNC Chairman Reince Priebus.
GOP letter to vet debate sponsors (CNN)
The Republican presidential campaigns will ask debate sponsors to commit to certain criteria and answer a list of questions in order to determine whether or not they are fit to host future GOP debates.
How the Government Polices What Bankrupt Student Debtors Spend (Bloomberg)
Tangerie Shells lost her only shot at life without debt when she decided to spend $175 per month on meals outside her home.
Technology
Skype Founders Build a Robot for Suburban Streets (NY Times)
Almost half a century ago, the first autonomous robot project, dubbed Shakey, was started here at a laboratory that is now called SRI International. Shakey was the first machine used to pursue a range of artificial intelligence technologies such as planning, navigation, machine vision and even speech recognition. Funded by the Pentagon, it was originally modeled on the idea of an autonomous sentry for a military base.
BlackBerry's New Android Smartphone Could Be Its Last Device (Bloomberg)
BlackBerry Ltd.’s new Android phone hitting the market this week could be the company’s last attempt at making its devices profitable before ending production.
The Canadian company has unveiled several new phones in the two years since Chief Executive Officer John Chen took over, but none has managed to stop hardware sales from falling. Chen has repeatedly said he will exit the device business if he can’t make it profitable.
Health and Life Sciences
Never mind if they work, are supplements safe? (Futurity)
Regulation of dietary supplements should focus less on whether vitamins, minerals, and herbal extracts actually do what advocates claim and more on whether they are safe to take, a public health expert and former regulator says.
E. Coli Outbreak Strikes Chipotle — What You Need To Know (Forbes)
An outbreak of E. coli has closed the Chipotle chain in Oregon and Washington states. This strain, which produces Shiga toxin, has thus far sickened three people in Portland and 19 in western Washington, with no deaths. Cases will almost certainly rise as the investigation continues.
Life on the Home Planet
Cyclone Chapala Still Looking Nasty as it Advances on Yemen (Gizmodo)
Yemen is in for a mess as last week’s rapidly-growing Cyclone Chapala continues to hold it together while approaching the dry desert air. If it makes landfall, it’s anticipated to be the largest storm to hit the country since we started recording them.
