In yesterday’s update on U.S. industrial activity for September, we received a wave of positive news regarding the economic forecast. This report strengthens the expectation that the Federal Reserve is likely to raise interest rates at its upcoming December policy meeting.
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Suspects in the Khashoggi case have connections to the Saudi Crown Prince: NY Times
A high-ranking Saudi official allegedly oversaw Khashoggi’s interrogation: CNN
After discussions in Saudi Arabia regarding Khashoggi, Pompeo meets with Turkey’s Erdogan: Reuters
The IMF’s chief has postponed a trip to the Middle East, including a planned Saudi event: CNBC
Trump warns Central American nations that he will withhold funds related to the immigrant ‘caravan’: The Hill
China defends its actions in detaining the Muslim minority in the Xinjiang region: BBC
U.S. industrial output increased for the fourth consecutive month in September: MarketWatch
Homebuilder sentiment in the U.S. rose in October: HousingWire
U.S. job openings surged to a record high of 7.14 million in August: Reuters
In yesterday’s U.S. retail sales report for September, headlines proclaimed a potential slowdown in consumer spending. However, a closer examination reveals reasons for cautious optimism. It may be too early to declare that the recovery in retail spending that began in 2016 has officially ended.
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The U.S. budget deficit swelled to a six-year high of $779 billion for fiscal 2018: AP
Reports indicate that the Saudis might admit Khashoggi died during interrogation: CNN
U.S. retail sales increased by a modest 0.1% in September, falling short of economists’ expectations: CNBC
Fidelity has launched a cryptocurrency trading desk aimed at institutions: CNBC
Inflation in China accelerated for the fourth straight month in September: Bloomberg
ECRI warns that the U.S. housing market may be at risk of a downturn: Bloomberg
The NY Fed Manufacturing Index showed a slight uptick, indicating ongoing sector strength: MW
Business inventories in the U.S. rose sharply in August: MW
Gold prices have increased to a two-and-a-half month high, reaching $1,230 an ounce:
Last week, foreign bonds exhibited the strongest performance among the major asset classes, standing in stark contrast to declining prices in global equity markets, as evidenced by a set of exchange-traded products at the close of trading on Friday, October 12.
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IEA warns that “expensive energy… poses a threat to economic growth”: CNBC
Saudi Arabia pledges to retaliate against any sanctions regarding the Khashoggi case: Reuters
Brexit negotiations are stalling over the Northern Ireland border issue: BBC
Bavaria’s election presents a challenge to the German Chancellor’s ‘grand coalition’: LA Times
U.S. import prices have risen more than expected due to a rebound in energy costs: CNBC
Sears has filed for bankruptcy: CNN
China’s Shanghai Composite Index has plummeted to a four-year low: Bloomberg
The U.S. Consumer Sentiment Index dipped in early October but remains high: MW
Could softer U.S. bank lending indicate a warning sign for the economy? NY Times
By Olivier Lazar
Summary via publisher (CRC Press)
Portfolio management primarily revolves around deciding which initiatives to pursue, which to ignore, and how to allocate resources among various portfolio components. While this is typically how it is taught, it encompasses much more. At its core, portfolio management aims to create value for all stakeholders in an organization, both internal and external. Such value is expressed not just in financial terms but also in social terms. Ultimately, the portfolio should generate value for all stakeholders, supporting the organization and enabling its sustainability.
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A recent global selloff has affected stock markets, yet the Middle Eastern and U.S. equities remain the only regions with year-to-date gains according to a series of exchange-traded funds, as of the close on October 11.
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As trade tensions escalate, Trump and Xi are set to meet in late November: WSJ
China’s exports surged in September: Reuters
European and Asian stocks saw a rebound during Friday’s trading: Bloomberg
Audio and video evidence indicates that Saudi journalist was killed in the consulate: WaPo
Companies are reconsidering partnerships with Saudi Arabia following the journalist’s disappearance: NY Times
Avoiding the next recession could prove challenging: The Economist
S&P 500 dipped below its 200-day average on Thursday for the first time since April: CNBC
Jobless claims rose last week, yet remain near a 49-year low: CNBC
U.S. consumer inflation showed signs of slowing in September: MarketWatch
No one can ascertain whether yesterday’s drop of over 3% in U.S. equity prices is merely a short-term fluctuation or the beginning of an ongoing decline. However, it is evident that the downturn was somewhat anticipated given the strong performance of U.S. stocks lately.
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### Conclusion
This roundup presents a snapshot of significant economic events and trends that are shaping the current financial landscape. While some aspects suggest challenges ahead, there is also a glimmer of optimism, indicating that the markets can recover and find their footing moving forward.
