Written by Gary
DOW jumps, closes above 27,000 for the first time since July (SPY +0.7%). Apple shares rise; sentiment remains positive, relative strength in the semiconductor stocks.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Purdue Pharma reaches tentative opioid settlement: sourcesOxyContin maker Purdue Pharma LP reached a tentative agreement with some plaintiffs to resolve widespread litigation over its alleged role in fueling the U.S. opioid crisis and plans to tussle with states opposing its settlement offer in bankruptcy proceedings starting as soon as next week, people familiar with the matter said. |
| Factbox: Purdue OxyContin settlement would rank among largest in pharma historyOxyContin maker Purdue Pharma LP has reached a tentative multibillion-dollar agreement with some plaintiffs aimed at settling thousands of lawsuits over its alleged role in the U.S. opioid crisis, Reuters reported on Wednesday, citing people familiar with the matter. |
| ‘Oracle of oil’ T. Boone Pickens dies at 91T. Boone Pickens, a celebrated corporate raider and energy industry magnate who made an empire out of an initial $2,500 investment, died on Wednesday at age 91, his spokesman said. |
| Explainer: Advertising execs point to five ways Google stifles businessU.S. authorities investigating Alphabet Inc’s Google for anticompetitive behavior have recently begun probing the company’s $116 billion-a-year advertising business. |
| Trade hopes lift stocks, bond yields up ahead of ECBA gauge of global equity markets climbed on Wednesday, amid small signs of progress in the trade war between the United States and China, while bond yields rose as investors remained unsure what stimulus measures the European Central Bank will provide at its Thursday meeting. |
| Hong Kong Exchange makes surprise $39 billion offer for Britain’s LSEHong Kong Exchanges and Clearing made a surprise $39 billion takeover approach for the London Stock Exchange on Wednesday, aiming to sabotage the LSE’s acquisition of data company Refinitiv and create a global trading powerhouse. |
| Italy’s 5-Star Movement says to monitor closely Hong Kong’s bid for LSEItaly’s ruling 5-Star Movement will monitor closely a bid by Hong Kong Exchange for the London Stock Exchange to ensure it does not hurt Italian interests, it said on Wednesday. |
| China exempts some U.S. goods from retaliatory tariffs as fresh talks loomU.S. President Donald Trump on Wednesday welcomed China’s decision to exempt some U.S. anti-cancer drugs and other goods from its tariffs, days ahead of a planned meeting aimed at defusing a trade war between the world’s two largest economies. |
| California Senate passes bill to tighten ‘gig’ worker ruleThe California State Senate voted on Tuesday to pass a bill that would make it much more difficult for gig economy companies like Uber Technologies Inc and Lyft Inc to classify workers as independent contractors rather than employees. |
| Outrage As Chinese Media Uses 9/11 Image To Warn HK Protesters Plotting CarnageOutrage As Chinese Media Uses 9/11 Image To Warn HK Protesters Plotting Carnage As the United States and parts of the rest of the globe pause to remember the tragic September 11 terror attacks and nearly 3,000 Americans who lost their lives, China has used the occasion for crude and cheap propaganda purposes. Astoundingly on Wednesday the Hong Kong edition of state-owned China Daily newspaper published a Facebook post featuring an archival image of the attack on the Twin Towers while “warning” the public that “massive terror attacks” were being planned by anti-Beijing Hong Kong protesters. |
| “Proactive Education” – Penis-Ring Toss, Lube Taste-Test Featured At Public University’s Sex-Ed Carnival“Proactive Education” – Penis-Ring Toss, Lube Taste-Test Featured At Public University’s Sex-Ed Carnival Authored by Zachary Petrizzo via The College Fix, A penis ring toss, vagina bean bag toss, and lubricant taste tests were just a few of the activities students at George Mason University took part in Tuesday night at a œConsent Carnival hosted by the Student Support and Advocacy Center. |
| Trump Slams ‘Mr. Tough Guy’ Bolton For Making ‘Very Big Mistakes’ÂTrump Slams ‘Mr. Tough Guy’ Bolton For Making ‘Very Big Mistakes’ President Trump slammed just-fired National Security Adviser John Bolton in Wednesday comments from the White House, saying he let the mustached war-hawk go after making “some very big mistakes,” and that Bolton didn’t get along with others in the administration, according to The Hill. |
| A Day That Changed The WorldA Day That Changed The World Authored by Cesar Chelala via Counterpunch.org, A new anniversary of a catastrophe brings back strong feelings and sad memories. Such is the case of the 9/11 attacks on New York’s World Trade Center, a tragedy that had long-lasting effects. New York, and the world, has not been the same since the events of September 11, 2001. |
| Will Modi govt’s bank merger plan make any difference?Will Modi govt’s bank merger plan make any difference? Issues could include something as simple as an internal hierarchical muddle to more direct and larger conflicts. |
| Soaring airfares won’t go down anytime soonSoaring airfares won’t go down anytime soonFares for domestic travel is expected to spike 7-9% this fiscal because of limited capacity additions, Crisil said. |
| Apple is all set to put a chill on NetflixApple is all set to put a chill on NetflixLaunching on November 1 in 100 countries, Apple TV+ promises to launch a new show every week. |
| Commodities Corner: U.S.-Iran developments provide a complicated backdrop for the OPEC+ meetingThe chances of a deeper oil production cut by the Organization of the Petroleum Exporting Countries and their allies has seen an uptick in just the last couple of days, as the group known as OPEC+ readies for meeting on the sidelines of the World Energy Congress in Abu Dhabi. |
| How to invest in ” or avoid ” what makes China ChinaOne ETF that purports to offer access to better run private sector companies in China that are better run may make things more confusing for investors, not less. |
| Market Extra: The ECB decision is coming ” here’s what to expectIf there’s one thing that observers agree on with respect to Thursday’s European Central Bank meeting, it’s that the central bank will announcing a series of loosening measures that won’t really make much of a difference to the struggling European economy. |
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