SWB/today: Markets flat; Oil even; Tech Tuesday














Who Is Ahmad Khan Rahami?


Read the article from IBT




Treasury Bills, Notes and Bonds
Most recent issues
Maturity % yield Change
3-month 0.2612% –0.0278
6-month 0.4853% –0.0077
2-year 0.77% –0.0037
5-year 1.20% –0.0067
10-year 1.69% –0.0084
30-year 2.44% –0.0111


Choppy Afternoon Leaves Stocks Mixed as Fed Meeting Looms

A choppy afternoon of trading left stock markets narrowly mixed on Monday as theFederal Reserve’s September meeting drew closer.

The S&P 500 was flat, the Dow Jones Industrial Average lost 0.02%, and theNasdaq fell 0.18%.

The looming Fed’s September meeting undercut investor confidence that propelled markets higher earlier in the session. The Federal Open Market Committee is set to meet for two days on Tuesday, culminating in an announcement, forecasts and press conference from Fed Chair Janet Yellen on Wednesday afternoon.

Read the article from The Street


European Stocks Rise With Commodities

European markets closed up on Monday ahead of the Bank of Japan and Federal Reserve meetings, as commodities gained.

The Fed meeting this week could cause market turmoil with investors girding themselves against a possible rate rise. The chances of a rate hike in September sit at 12%, according to CME Group fed funds futures. Most analysts are betting on a rate hike in December, which has a 45% likelihood.

Oil gained today after Venezuelan President Nicolas Maduro said that OPEC countries and other producer countries were close to reaching a deal to stabilize global output.

In London, the FTSE 100 gained 1.54% to close at 6,813.55.

Read the article from The Street


Crude prices rose Monday after Venezuelan President Nicolas Maduro said a deal between Organization of Petroleum-Exporting Countries and non-OPEC countries to curb output was close. Maduro said officials held a long meeting with Iranian President Hassan Rouhani. OPEC members are set to hold an informal meeting later this month.

West Texas Intermediate crude oil closed 0.49% higher at $43.24 a barrel. Gains were more than twice as high earlier in the session.

Read the article from The Street


Sarepta Therapeutics (SRPT) soared 90% after the U.S. Food and Drug Administration gave approval to eteplirsen, a treatment for Duchenne muscular dystrophy. The terms of the approval require Sarepta to hold a new clinical trial to prove the drug’s efficacy.

Eldorado Resorts (ERI) agreed to buy Isle of Capri Casinos (ISLE) in a cash-and-stock deal worth around $950 million. The acquisition values the company at $23 a share, a 36% premium on Friday’s close. The number of locations Eldorado operates will more than double once the deal closes. Isle of Capri Casinos shares rose 30%.

TerraForm Power (TERP) was higher on Monday after announcing it was exploring strategic alternatives, including a possible sale of some or all of its company.

Read the article from The Street


Wall Street Journal

Union Head Says Canadian Workers Will Strike GM if Monday Contract Deadline Missed

New York Times

Cellphone Alerts Used in Search of Manhattan Bombing Suspect

Bloomberg Business

Wells Fargo’s Chief Risk Officer for Retail Bank Takes Leave

International Business Times

Google May Face Indonesia Tax Bill Of Over $400 Million For 2015 — Government Official

The Guardian

Shares and oil rally ahead of crunch central bank meetings – as it happened

The Telegraph

FTSE 100 smashes 6,800 and oil bounces after Venezuela says Opec ‘close to output deal’ 



Here’s How to Build Wealth Like a Multimillionaire

Begin Early

One of the most repeated mantras among retirement experts is to save early and often. That’s something the millionaires in the U.S. Trust survey practiced from their teens. The average respondent started saving money at 14 and began working to earn his or her own money by age 15. The average age at which investing in the stock market commenced was 25.

Say you’re 25 years old and making $40,000 a year. You start saving 6% of your salary in a 401(k), and your employer matches 100% of your contribution. If you earn a 7% rate of return until age 65, you’d have more than $994,000 saved by the time you’re ready to retire. If you get a 1% salary increase each year, your balance would grow to more than $1.1 million.

By comparison, if you waited until you were 35 to start saving, you’d only have around $520,000 saved by age 65, even with a 1% annual pay raise. The lesson here is a simple one: If you want to retire a multimillionaire, you can’t afford to delay saving.

Stick With the Basics

The multimillionaires included in the U.S. Trust survey didn’t build their wealth by making flashy investment moves. Instead, they went with tried-and-true formulas for generating stable returns. For example, 86% of investors said they saw the biggest gains in their portfolio when they employed a long-term buy-and-hold strategy.

Read more: Here’s How to Build Wealth Like a Multimillionaire | Investopedia


Why Junk Bonds Are Poised for a Correction (S, HLT)

With interest rates hovering at historic levels, investors craving income are looking for all available options. And one of the few places offering superior returns has been high-yield debt, better known as junk bonds. Since February prices have appreciated 20%, an outstanding return. So strong that bond yields, which move inversely to prices, have dipped to 6% from 10% in February.

Poised for a Correction

One sign is when fear crept in the market on Sept. 9, pushing junk bonds down by 1% at the end of the day. Most of the fear was caused by worrying that the Fed will raise rates sooner than expected, which could lead to a slower economy and a higher volume of corporate defaults on junk bonds.

Rich Valuations

Another concern is valuations. While the current yield spread between junk bond yields and treasuries is still close to its 20-year average of 5%, other measures say they are extremely overvalued

Slashing Exposure

Companies whose junk bonds appear overvalued include Sprint Corp. (S), Hospital Corporation of America (HCA), and Hilton Worldwide Holdings (HLT).

Fund managers are already starting to pare their exposure to junk debt, with the Columbia Strategic Income Fund slashing its exposure from 50% to 25%.

Read more: Why Junk Bonds Are Poised for a Correction (S, HLT) | Investopedia



Here’s how to decide between the jet-black iPhone 7 and the matte-black one


On Wednesday, Apple introduced the iPhone 7. It’s the first time an iPhone is being offered in two black colors: matte black and jet black.

Both colors look gorgeous.


This is the 4.7-inch iPhone 7 in matte black.



Close up, the polished look is really gorgeous.

The jet-black iPhone 7 has a glossy mirror-like quality, which unfortunately means it can smudge like a mirror. Expect this to be a fingerprint magnet, too.

It’s also prone to scratches. Apple’s website warns the jet-black iPhone 7 is susceptible to “micro-abrasions over time,” and Brownlee found one of the jet black iPhone 7 models in the demo room already had small scratches on it. That’s a bummer.

This one quote from Brownlee’s video sealed the deal for me:

“I don’t think I can seriously recommend [the jet-black iPhone 7] to anyone. It looks good when you keep it clean, which is what they were doing [in Apple’s demo room], but not only is it going to be the slipperiest iPhone of all time, but it’s also going to be super-prone to fingerprints, like Samsung phones, and scratches.”

Read the article from Tech Insider

Leica’s Adorable Sofort Instant Camera Brings the Whimsy


ONE GENERALLY APPROACHES Leica as something to appreciate more than afford. And yet! The fancy photo company’s latest, an adorable instant camera, is well within reach.

The Leica Sofort may not be as feature-packed as, well, any serious camera, but it’s not here to be serious. It’s here to have fun, to take the instant-gratification spirit of Polaroid and cram it into a fashionably chunky body. You can shoot with regular ol’ Fujifilm Instax Mini film, or opt for one of two Leica-branded variants that roll out your tiny pics in either black and white, or color but with a cream-colored border.

The Sofort will cost $300 when in launches in November, which stretches pretty far past what other instant cameras have (the Polaroid Snap is $100, and Fujifilm Instax Minis go for even less). They’ve got style, though, as well as just enough more granular control over what you’re shooting. It has four preset modes, including Automatic, Party & People, Sports & Action, and Macro, and gives you control over focusing distance and brightness. You can even take competent selfies with it, thanks to a front-side mirror.

Read the article from WIRED



Leaders Succeed When They Go Where Their Fear Tells Them to Avoid


Performing artists believe their professional growth relies on taking the roles that scare them most. Business leaders, take note.

For performers, following the fear isn’t only a good idea, it truly represents a mandate for success. The act of getting on stage itself, for instance, is quite scary for most individuals.

While “following the fear” is so deeply engrained in performance art, for entrepreneurs and executives, the concept has largely remained an idealistic approach to leadership. We frequently hear experts discuss the importance of overcoming failure and pursuing the unknown, but within organizations, employees are rarely encouraged to take real risks, or to try new initiatives that will have highly uncertain results.

An untapped audience with similar goals.

Perhaps the biggest obstacle to personal success is our own self-valuation. People tend to internally downplay their own intellect and perspective, even while outwardly projecting the opposite to their audiences.

Read the article from Entrepreneur


A Tale of Two Henrys: How Activists and Entrepreneurs Really Impact the World


Change can come from unexpected places

Who makes change happen–the activist or the entrepreneur?

Henry Bergh worked as an American diplomat in the early 1860s. After witnessing the inhumane treatment of carriage and farm horses in Russia, he returned to the States and founded the American Society for the Prevention of Cruelty to Animals (ASPCA).

Today the ASPCA is still a vibrant and growing organization that advocates for humane treatment of animals.

Activists like Bergh channel their passion toward social issues and advocate for change. At the same time, and often not in coordination, innovators like Ford work to develop lasting innovations that shift the marketplace.

Read the article from INC.


Does Your Age Matter as an Entrepreneur?


Whether you’re 18 or 65, every age has its advantages.

The answer isn’t as simple as you might think. Bet-David says that older people are more paranoid, wiser and logical, and they have more contacts and more to lose — all of which may give them an advantage in business. To the contrary, young people are more naive and emotional, they think that they know everything and they have nothing to lose — also traits that can benefit entrepreneurs.

For example, some level of naiveté helps in business — it makes people more optimistic and willing to ask for help. However being somewhat paranoid is also good for business, because it makes people cautious and methodical.

Read the article from Entrepreneur

That’s all for today.

  See you back here in the a.m. with the latest biz.


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