Equity markets buckle up for FOMC minutes, Alcoa earnings
Breakfast with Benjamin: Equity investors brace for insight from Janet Yellen and the Fed today. Plus: ETFs chase the freed-up Pimco assets, breaking down the bond market fears, Morgan Stanley says the auto industry's days are numbered, and Warren Buffett makes another safe bet.
- The stock market will dust itself off from Tuesday’s carnage to brace for today’s minutes from the September FOMC meeting, as well as Alcoa kicking off third-quarter earnings. Some are blaming a weakened European economy for the pullback, but in such a nervous market, the tipping points are everywhere. Fewer companies expected to beat revenues estimates, but the outlook is better for earnings
- The race for the billions of dollars set loose from the Pimco Total Return Fund over the past few weeks is being won by a handful of ETFs. A bright spot for select fixed-income ETFs
- Where the bond bears are getting it right, and where they’re getting it wrong. This is what happens when investors try to discern the short-term future of the markets. Not being haunted by fixed-income questions that can’t be answered
- A Morgan Stanley analyst, who probably doesn’t own a car, calls for the end of the auto industry as we know it. This will sound like nonsense to anyone living outside of Manhattan. Driverless cars and the end of individual ownership are coming fast
- Legendary investment guru, Warren Buffett, dabbles in political analysis by going way out on a limb to forecast a Hillary Clinton victory in 2016. He also made the bold prediction that tomorrow will be Thursday. “Hillary is going to win”
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