US stocks slipped for a second straight day as weakness in commodities dragged raw-material producers lower.
The S&P 500, the Dow Jones Industrial Average, and the more tech-heavy Nasdaq Composite index all fell around 0.6%.
First up, the scoreboard:
- Dow: 23,269.18, -140.29, (-0.60%)
- S&P 500: 2,563.95, -15.05, (-0.58%)
- Nasdaq: 6,699.29, -38.98, (-0.58%)
- US 10-year yield: 2.34%, -0.05
- WTI crude oil: $US55.28, -0.42, -0.75%
1. Stocks are flashing an ominous signal not seen since the financial crisis. Investment manager John Hussman points out that stock market dispersion is widening, while two technical indicators known as the Hindenburg Omen and Titanic Syndrome flashed sell.
2. America’s investing giants have a major problem with the GOP tax plan. A little-publicized provision of the bill would force clients of investment management firms to sell their oldest shares first when cashing out of positions.
3. Warren Buffett’s Berkshire Hathaway loads up on Apple. The firm raised its stake in Apple by 3%, to 134 million outstanding shares in the third quarter.
4. A $US20 billion investment firm is betting big on Wall Street’s hottest tech stocks. Billionaire Chase Coleman’s Tiger Global Management has increased its bets on Amazon, Facebook, Alibaba, and Alphabet.
5. People are underrating the odds of a government shutdown in December. Business Insider’s Josh Barro says that while President Donald Trump and congressional leaders prevented one fairly easily in September, it will be different in December.
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