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Chipotle stock slides 2.5% as analysts take bearish tone ahead of earnings

MarketWatch Market Pulse - 9 hours 35 min ago

Shares of Chipotle Mexican Grill Inc. fell 2.5% Wednesday, as analysts took a cautious view of the stock ahead of third-quarter earnings due next week. Wedbush analysts said they are expecting same-restaurant sales growth to fall below consensus of 2.2%, based on early October checks. "While we noted a benefit from the recent introduction of queso, we estimate the trend line was only up in the low-single digit range, and believe prior to the introduction was likely running in negative territory," they wrote in a note. "Should transaction trends remain pressured, we believe management may elect to forego the price increase we currently incorporate in our model in Q4." Bank of America downgraded the stock to underperform from neutral, according to Barron's. Chipotle shares are down 15% in 2017, while the S&P 500 has gained 14.5% and the Dow Jones Industrial Average has gained 17%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Gold settles lower, then edges up in electronic trade after Fed Beige Book

MarketWatch Market Pulse - 9 hours 35 min ago

Gold prices settled lower Wednesday, then edged a bit higher in electronic trading shortly after the release of the U.S. Federal Reserve's Beige Book. The report, which offers a snapshot of domestic economic activity, said U.S. growth was "split between modest and moderate," but the Fed appears to still be on track to raise interest rates by December. Gold futures for December delivery was at $1,283.70 an ounce in electronic trading. Prices had lost $3.20, or 0.3%, to settle at $1,283 an ounce for the session, their lowest since Oct. 6, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Stock market buyers are about as calm as can be despite record rally

MarketWatch Market Pulse - 9 hours 48 min ago

Stock market internals are showing that, despite the apparent melt up in the major market indexes, with the Dow Jones Industrial Average's spiking into uncharted territory, the buying Wednesday is relatively calm, cool and collected. The Arms Index, which is a volume weighted breadth measure that usually declines when the market rises, inched up to just 1.071 for the NYSE and to 1.093 on the Nasdaq exchange. An Arms of 1.000 means the ratio of advancers over decliners is the same as the ratio of advancing volume over declining volume; basically, there's no sense of urgency to buy stocks that are rise. A decline in the Arms to 0.50 and below suggests panic-like buying. The Dow was up 160 points, joined with at a record high by both the S&P 500 and the Nasdaq Composite . But the number of advancing stocks outnumber decliners by just a 1,534-to-1,288 score on the NYSE and by a 1,674-to-1,000 on the Nasdaq. And advancing volume is just 52% of total volume on the NYSE and 59% of total volume on the Nasdaq.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

VIDEO: Israeli MP walks out after Kuwaiti Speaker calls him a 'child-killer'

MiddleEasteye - 10 hours 16 sec ago
Language Undefined

Israeli delegate walks out of inter-Parliamentary conference after Kuwaiti lawmaker tells him, 'You have no shame'

Dow industrials on track for best one-day gain in 5 weeks

MarketWatch Market Pulse - 10 hours 5 min ago

The Dow Jones Industrial Average Wednesday afternoon was climbing past the psychologically significant level of 23,000, propelled by a rally in shares of International Business Machines Corp. The rally was putting the blue-chip gauge in position to book its first close above 23,000 in history and its best one-day climb since Sept. 11, when it rose 259 points, or 1.2%, according to FactSet data. The Dow was up 157 points, or 0.7%, at 23,155, most recently. Wednesday's gain, which also saw the S&P 500 index and the Nasdaq Composite Index to intraday all-time highs, was supported by a healthy round of early earnings from U.S. corporations, and hope of market-boosting tax cuts. Meanwhile, IBM's stock was enjoying its best daily gain since 2009 after the tech giant posted better-than-expected quarterly results late Tuesday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Native American tribe holding patents sues Amazon and Microsoft

Top Reuters News - 10 hours 8 min ago
(Reuters) - A Native American tribe sued Amazon.com Inc and Microsoft Corp in federal court in Virginia on Wednesday for infringing supercomputer patents it is holding for a technology firm.

Sessions refuses to discuss Trump conversations on Russia

Reuters US Politics - 10 hours 23 min ago
WASHINGTON (Reuters) - U.S. Attorney General Jeff Sessions refused on Wednesday to answer lawmakers' questions about his discussions with President Donald Trump on Russia and denied lying to Congress about his own contacts with Russians during the 2016 election campaign.

Bipartisan Senate deal on stabilizing Obamacare runs into trouble

Top Reuters News - 10 hours 24 min ago
WASHINGTON (Reuters) - A bipartisan deal from two U.S. senators to stabilize Obamacare by restoring subsidies to health insurers ran into trouble on Wednesday with President Donald Trump sending mixed signals and the speaker of the House indicating no interest in taking it up.

Bipartisan Senate deal on stabilizing Obamacare runs into trouble

Reuters US Politics - 10 hours 24 min ago
WASHINGTON (Reuters) - A bipartisan deal from two U.S. senators to stabilize Obamacare by restoring subsidies to health insurers ran into trouble on Wednesday with President Donald Trump sending mixed signals and the speaker of the House indicating no interest in taking it up.

Trump, Iowa governor discuss renewable fuels: governor's office

Reuters US Politics - 10 hours 51 min ago
WASHINGTON (Reuters) - U.S. President Donald Trump spoke with Iowa Governor Kim Reynolds on Wednesday about the renewable fuels standard as concern has risen from corn-growing states over the administration's ethanol policies, the governor's office said.

Turkey frees 7,500 illegally hunted frogs into river

MiddleEasteye - 11 hours 3 min ago
Language Undefined

The suspects said they were eventually destined for export to France and China where they would be eaten

House Democrats seek documents on former Trump aide Michael Flynn

Reuters US Politics - 11 hours 18 min ago
WASHINGTON (Reuters) - U.S. Democratic lawmakers called on Wednesday for a congressional committee to issue subpoenas to the White House and three companies for documents about fired national security adviser Michael Flynn.

Shares of large generic drugmakers fall

MarketWatch Market Pulse - 11 hours 21 min ago

Shares of several large generic drugmakers fell in Wednesday midday trade. Mylan NV shares dropped 2.7%, Teva Pharmaceutical Industries Ltd. shares dropped 2.1% , Taro Pharmaceutical Industries Ltd. shares fell 2.2% and Perrigo Co. Plc shares fell 0.6%. Generic drugs prices have been under pressure this year, and although it appears to be stabilizing of late, "we recognize that a new wave of pricing pressure could emerge again later this year," said Jefferies analyst Brian Tanquilut. This past summer, Teva's earnings report sparked a wider and extended sell off in industry shares. Teva is scheduled to report third-quarter earnings on Nov 2. The VanEck Vectors Generic Drugs ETF was not active in Wednesday trade. Shares have risen 3.2% over the last three months, compared with a 4% rise in the S&P 500 .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Filipino domestic worker wins landmark ruling in UK against Saudi diplomat

MiddleEasteye - 11 hours 25 min ago
Language Undefined

Landmark ruling means domestic workers can sue their foreign employers for abuse and other claims

IBM's stock provides a 90-point tailwind to Dow's record climb

MarketWatch Market Pulse - 11 hours 31 min ago

The Dow Jones Industrial Average on Wednesday was looking at its second-best daily gain in October, with shares of International Business Machines Corp. powering more than half its rally. Shares of IBM were rally 9.4% or $13.81. That translates to a more than 90-point lift to the price-weighted Dow after the tech giant posted better-than-expected quarterly results. A $1 move in any one of the Dow's 30 components equates to a 6.89-point swing. The daily surge for the Armonk, N.Y.-based tech giant, if it holds, would be the best since Jan. 21, 2009, according to FactSet. However, the stock is still down about 3.6% so far this year. IBM's gain was powering the Dow above 23,000, with the blue-chip gauge up 146 points, or 0.6%, at 23,144, on track for its best daily gain since Oct. 2. The other main benchmarks' moves were more muted. The S&P 500 index was up 0.1% at 2,561, while the Nasdaq Composite Index also was trading flat at 6,627.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

HP shares climb to highest level since Feb. 2011 as RBC hikes estimates and price target

MarketWatch Market Pulse - 11 hours 38 min ago

Shares of HP Inc. rose to their highest level since Feb. of 2011 early Wednesday, after RBC raised earnings estimates and its stock price target to incorporate new company guidance. "We think HPQ's FY18 guide is inherently conservative and could enable sustained beats/raises over the next few quarters," analysts led by Amit Daryanani wrote in a note. RBC raised its stock price target to $26 from $22, and lifted its fiscal 2018 EPS estimate to $1.81 from $1.74 and its revenue estimate to $52.0 billion from $50.8 billion. The company said it expects a flat year for printing and a down year for PCs, where it will mainly focus on adjacent markets and share gains. "Commodity markets should remain challenging but likely peak in FQ4 (October); that headwind should be offset by cost-reduction initiatives," said the note. Shares were last trading up 0.9% and have gained about 45% in 2017, while the S&P 500 has gained 14%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Ford to recall about 1.3 million trucks in North America for door latch fix

Top Reuters News - 11 hours 56 min ago
WASHINGTON (Reuters) - Ford Motor Co said on Wednesday it would recall about 1.3 million 2015-17 Ford F-150 and 2017 Ford Super Duty trucks in North America to add water shields to side door latches at a cost of $267 million.

Three dead in shooting at Maryland workplace: sheriff

Top Reuters News - 11 hours 58 min ago
(Reuters) - Three people were killed and two wounded on Wednesday in a shooting at an Edgewood, Maryland, stone countertop company, Harford County Sheriff Jeffrey Gahler said.

Trump’s Horrible Truth to the Soldier’s Widow

Future of Freedom Foundation - 12 hours 1 min ago

Warfare-statists are horrified over what President Trump told Mrs. La David Johnson, the grieving widow of a U.S. soldier who was recently killed in Niger. Trump said to Mrs. Johnson, “Well, I guess he knew what he signed up for, but I guess it still hurt.”

Trump’s statement reminds me of what Herbert Spencer wrote back in 1902 in an article entitled “Patriotism”:

Some years ago I gave expression to my own feeling — anti-patriotic feeling, it will doubtless be called — in a somewhat startling way. It was at the time of the second Afghan war, when, in pursuance of what were thought to be “our interests,” we were invading Afghanistan. News had come that some of our troops were in danger. At the Athenaeum Club a well-known military man — then a captain but now a general — drew my attention to a telegram containing this news, and read it to me in a manner implying the belief that I should share his anxiety. I astounded him by replying — “When men hire themselves out to shoot other men to order, asking nothing about the justice of their cause, I don’t care if they are shot themselves.”

As far as I can tell, warfare-statists are not accusing Trump of lying to Mrs. Johnson with this particular statement. Instead, it seems that they’re horrified that he spoke the truth to her.

After all, let’s face it: Sgt. La David Johnson did sign up to serve in the U.S. military. No one forced him to sign up. No one conscripted him. He signed up of his own accord, totally voluntarily.

I just wonder why Trump didn’t complete the thought. Why didn’t he tell Mrs. Johnson that her husband had died for nothing or, to be more precise, he died to expand U.S. hegemony in that part of the world, which, in my books, is equivalent to dying for nothing?

Suppose the United States was invaded by North Korea. Hundreds of thousands of North Korean transport ships and planes have crossed the Pacific Ocean, disgorging millions of North Korean troops on California beaches. Tens of thousands of North Korean planes are bombing San Francisco, Las Vegas, and Santa Fe.

Mobilizing to defend the country against the invasion, the U.S. government calls for volunteers to join the military. My hunch is that tens of millions of Americans would immediately sign up to join the army. They would be signing up to defend their country and the rights and liberties of the American people.

But that’s clearly not what La David Johnson signed up for. The United States has not been invaded by another country. Equally important, no nation-state has the remotest capability of pulling off such an near impossible feat. Certainly not a poor Third World country like North Korea. Not even China or Russia. America is in no danger whatsoever of being invaded, much less conquered.

In fact, with the possible exception of Great Britain in 1812, the United States has never been in danger of being invaded and conquered by anyone. No, not even by Nazi Germany. At the risk of belaboring the obvious, if Hitler’s army could not even cross the English Channel to invade and conquer England, the possibility of crossing the Atlantic to invade and conquer the United States was nonexistent. And no, not even by Japan, whose attack at Pearl Harbor was simply limited to trying to knock out America’s Pacific fleet so that Japan would have a free hand in securing oil from the Dutch East Indies.

And, no, not even on September 11, 2001. Those terrorist strikes, which ironically were committed in retaliation for Pentagon and CIA interventions abroad, entailed a few terrorists striking a few targets, not a full-scale military invasion of the United States.

Ever since World War II, however, the U.S. government has involved itself in invading and conquering other countries. Or assassinating foreign leaders. Or initiating coups.

The purpose of these regime-change operations? To expand U.S. governmental control over various parts of the world, the same way that the British Empire once did.

In fact, that Spencer quote from 1902 is helpful in understanding what La David Johnson died for. He died for the same thing that British soldiers were dying for in Afghanistan in 1902. No, not to protect the freedom of the British people because Afghanistan was not threatening the freedom of the British people. Johnson, like those British soldiers in 1902, died for the sake of empire, for hegemony, for control.

When he signs up to join the military, every U.S. soldier knows that America is not under any foreign invasion or threat of invasion. He also knows full well that he is now required to obey the orders of the president to go to Iraq, Afghanistan, Yemen, Syria, Korea, Vietnam, or anywhere else to kill or be killed. While the soldier inevitably gets convinced that it’s all for “freedom” here at home, it’s all a lie because no one in those faraway lands is threatening the freedom of the American people.

But here’s the rub: No one is supposed to say that. Everyone is supposed to say that U.S. soldiers are killing and dying overseas to keep us safe here at home and to protect our rights and freedoms.

It’s a lie that is repeated all across the land, including by those who criticize President Trump for lying. It’s repeated in big sports events, airports, and even church services, the one place where you would expect truth to be stated.

Notice that even while criticizing Trump for his horrifyingly truthful statement to Mrs. Johnson, no one asks the important question: What in the world was La David Johnson or other U.S. soldiers doing in Niger? I’ll bet that at least 95 percent of Americans can’t even identify where Niger is on a map.

Too bad Trump couldn’t bring himself to speak the whole, unvarnished truth to Mrs. Johnson and, for that matter, to every other American family who has lost a loved one in some overseas military operation: They signed up for empire and they died for empire.

The post Trump’s Horrible Truth to the Soldier’s Widow appeared first on The Future of Freedom Foundation.

Trump Escalates Anti-Leak Campaign

ConsortiumNews - 12 hours 11 min ago
President Trump has made clear his anger about “leaks,” but he is far from alone among recent U.S. presidents waging war against whistleblowing, write Jesselyn Radack and Kathleen McClellan for ExposeFacts. By Jesselyn Radack and Kathleen McClellan The Trump administration…

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