Wall Street Stumbles As Bond Yield Climb Continues. Dow falls the most in 2 months on fears of rising rates as 10-year yield hits highest since 2011. The big hack – China used a tiny chip to infiltrate U.S. companies. Zuckerberg faces anger over Facebook executive’s Kavanaugh support. Oil markets could witness modest surplus into early 2019. Oil prices rise on Iran sanctions, outlook uncertain. Germany says no-deal Brexit not in UK, EU or German interests.
Exclusive: Saudi Arabia, Russia Agreed In September To Lift Oil Output, Told U.S. Fed’s Powell sees ‘remarkably positive outlook’ for economy that may be ‘too good to be true.’ This bull market run has echoes of the late 1920s, Nobel Prize-winning economist Shiller says. U.S. Gross National Debt jumps by $1.27 trillion in fiscal 2018, hits $21.5 trillion. Italy budget concession hopes switch risk sentiment back on. Putin tells Trump to blame guy in the mirror for high oil prices. Mortgage fraud is getting worse as more people lie about their income to qualify for loans. Auto stocks tumble. Dollar hits six-week highs on hawkish Fed. New York investigating Trump tax dodging. Fed’s Evans says comfortable with a December rate hike.
New Reports Question Kavanaugh’s Credibility On Past Drinking Behavior, When He Knew About Allegations. Iranian missile strike called a warning to U.S. military in Syria. Unraveling a Tesla mystery: Lots (and lots) of parked cars. Tax cuts provide limited boost to workers’ wages. Too much oil? Texas boom outpaces supply, transport networks. Ryanair warns on profit as strikes and rising fuel prices take toll.
Trump Hails ‘Great Deal’ On US-Canada-Mexico Trade. OPEC ‘powerless to prevent’ oil prices jumping toward $100 a barrel this year. Merkel warns Trump against ‘destroying’ UN. Saudi shelves $200 billion SoftBank Solar project: WSJ. Trump says he and Kim Jong Un ‘fell in love,’ praises relationship with North Korea. Yale classmate says Kavanaugh misled Congress on his drinking habits. Yale friend says Kavanaugh was a heavy drinker. Brent oil rises to four-year high ahead of Iran sanctions, traders eye more hikes.
Russia Delivering Advanced Air Defense To Syria, Despite U.S. Objections. North Korea says ‘no way’ will disarm unilaterally without trust. Russian-U.S. tycoon boasted of ‘active’ involvement in Trump election campaign. Asian stocks lower on U.S.-China trade worries. Israel: IAEA failed to act on Iran’s ‘secret atomic warehouse.’ If Trump abandons globalism, American interests will suffer ‘irreparable harm.’ Turkey’s Erdogan opens mosque in German city of Cologne. The Fed could be hiking the U.S. into a recession, warns Peter Boockvar. Musk out as Tesla chair, remains CEO in $40M SEC settlement.