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1 Article
Source: Common Domain

Stocks end lower as tech weakness quashes attempt at gains

Tuesday 19:07 GMT

Nasdaq was the worst performer of the three after large-cap tech shares including Apple Inc. AAPL, -2.14% Alphabet Inc. GOOGL, -1.62% GOOG, -1.61% Microsoft Corp. MSFT, -1.80% and Amazon.com

See: Here’s why stock-market investors suddenly freaked out over rising bond yields. Higher yields raise borrowing costs for corporations and lure investors away from perceived riskier asset such as stocks.

1 Article
Source: Common Domain

Blame the U.S. for the Weaker Chinese Currency

Tuesday 19:07 GMT

It is tempting to think that China must be actively pushing its currency down in an attempt to offset the effect of the 10% tariffs being imposed on its exports to the U.S. by President Donald Trump.

Worse, if China did as the U.S. wants and decided to intervene to push the yuan up, it would have perverse and unwelcome effects on the U.S. bond market. To understand this, consider how China used to hold its currency down by building up foreign exchange reserves – something that was obviously manipulation.

1 Article
Source: Common Domain

Harvard Cites Weaker Teacher Recommendations for Asian-American Applicants

Wednesday 14:31 GMT

Harvard’s admissions dean testified Tuesday that weaker teacher and guidance-counselor recommendations are one reason why Asian-American applicants as a group score lower than white applicants in the “personal rating” portion of the school’s admissions process.

He said he didn’t know if Asian-American applicants had weaker recommendations than African-American or Hispanic applicants. He said one reason for the gap could be due to “somewhat stronger” teacher and guidance-counselor recommendations given to white applicants.

1 Article
Source: CBS News

CDC confirms 62 cases of polio-like illness, mostly affecting kids

Wednesday 19:08 GMT

The Centers for Disease Control and Prevention has confirmed 62 cases of the rare polio-like neurological condition acute flaccid myelitis, also known as AFM, so far this year in the U.S.

They can help prevent AFM by taking steps to protect children from serious disease, including frequent hand washing, staying up to date on immunizations, and preventing mosquito bites.

1 Article
Source: Washington Post

Mega Millions tweaked the odds to create monster jackpots. It worked.

Thursday 16:23 GMT

The lottery officials who run Mega Millions tweaked the rules and odds of the game last October to make jackpots pay out less frequently, spurring their monster growth.

The jackpot chasers typically emerge when they see the Mega Millions prize tick up and up and up, and they figure, “Hell, why not?” And if you have noticed a run of eye-popping jackpots from Mega Millions and the similarly designed Powerball recently, that’s by design, too.

1 Article
Source: Common Domain

U.S. Treasury declines to label China a currency manipulator but says recent yuan weakness is a concern

Thursday 21:52 GMT

The Treasury Department again declined to label China a currency manipulator, instead settling for a stern warning about a recent slide in the value of the Chinese yuan.

“Of particular concern are China’s lack of currency transparency and the recent weakness in its currency,” Treasury Secretary Steven Mnuchin said in a statement that accompanied the formal report on Wednesday. Treasury said it estimated the direct intervention by the People’s Bank of China this year “has been limited.”

1 Article
Source: Common Domain

U.S. Housing Construction Fell in September, Continuing Weak Stretch

Friday 01:31 GMT

Housing construction fell last month, continuing a weak stretch for the housing market driven by rising borrowing costs and expensive properties that are out of reach for most Americans.

To be sure, the broader trend shows continued new-home construction growth, as starts grew by 6.4% in the first nine months of 2018 compared with the same period a year earlier. A spate of recent economic data has illustrated this conundrum; demand should be strong, but rates and home prices are dampening it.

1 Article
Source: Common Domain

European Stocks Shrug Off Weakness in Asia

Friday 04:15 GMT

Losses in Asia came after U.S. stocks resumed selling late Wednesday, with the S&P 500 having closed down on eight of the past 10 trading days.

Elsewhere, investors were watching for any further signs of political strife in Europe, with negotiations for the U.K. to leave the European Union showing no end in sight, and Italian budget negotiations with European lawmakers also dragging on. In commodities, Brent crude oil was down 0.4% at $79.73 a barrel, extending the heavy losses that followed unexpectedly buoyant U.S. inventory figures.

1 Article
Source: Fox News

Dr. Marc Siegel: Mystery muscle-weakening disease is frightening, but here’s why we shouldn’t fear it

Saturday 04:14 GMT

Parents around the U.S. are concerned about new reports this week of a frightening and mysterious – but still extremely rare – muscle-weakening disease that is primarily striking children.

The current outbreak of AFM, though extremely small when compared to the societal devastation of polio, nevertheless brings back the horrible dread of what it’s like for a parent to see a young child stricken without warning in the midst of a day of happy playing.

1 Article
Source: Reuters

China moves to lift confidence as economic growth hits weakest pace...

Saturday 17:15 GMT

China’s economic growth cooled to its weakest quarterly pace since the global financial crisis, with regulators moving quickly to calm nervous investors as a years-long campaign to tackle debt risks and the trade war with the United States began to bite.

An official with China’s top economic planning agency said in July that China’s economy needs to maintain around 6.5 percent growth in order to ensure enough jobs are created, an indication that Beijing may not be comfortable with growth much below current levels.


“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte