Opening Bell 8.10.17
Beneath Markets’ Calm Are Signs of Growing Investor Caution [NYT]
While stocks in Asia sold off initially, the main market measures in the United States fell less than half a percent on Wednesday and ended the day nearly unchanged, as investors stuck to focusing on buoyant economic fundamentals and ignoring the chaos of American politics.
But beneath the calm there were signs that investors — who have been conditioned since the presidential election in November to embrace risk instead of running from it — are becoming more cautious.
Trump hits back at McConnell again, slamming Senate for Obamacare vote failure [CNBC]
On Twitter, Trump slammed the Senate republican for failing to pass an Obamacare repeal plan after campaigning on dismantling the law for most of a decade.
"Can you believe that Mitch McConnell, who has screamed Repeal & Replace for 7 years, couldn't get it done. Must Repeal & Replace ObamaCare!"
Dalio’s Quest to Outlive Himself [BBG]
“I believe what we’ve done is magical, that it is wonderful,” says Dalio, who, wearing a blue-checked shirt that’s loose on his lanky frame, looks more Mister Rogers than Wall Street billionaire. He’s so full of energy at the beginning of our interview this summer that his hands tremble. Dalio says he hates the limelight, but he’s recently started tweeting, just gave a TED Talk, and will publish the Principles as a 600-page book for the first time this September. He’s also planning a second title that will detail his economic and investment principles, which he’s closely guarded for years.
The Mooch is headed to late night [NYP]
In what is sure to be must-see TV, ”The Late Show with Stephen Colbert” has booked embattled former White House communications director Anthony Scaramucci for its Monday show, the host announced Wednesday.
“On Monday 8/14 Anthony Scaramucci will be my guest on @colbertlateshow. This is just a heads up for our censors to get ready! #themooch,” Colbert tweeted.
Blue Apron shares rise 5% despite quarterly loss [CNBC]
The meal kit company posted a loss of 47 cents per share on $238.1 million in revenue. Analysts had expected the company to post a loss of 30 cents per share on $235.8 million in revenue, according to Thomson Reuters estimates.
Why Goldman Sachs Seized a Client’s 217-Foot Yacht [WSJ]
The story behind the boat begins with a 2014 loan to a prized Goldman client, billionaire Texas oilman William Kallop. It ends with Goldman suing its own client and the U.S. Marshals last month swooping down on a West Palm Beach marina to impound the yacht—which boasts of a movie theater, Jacuzzi and helipad.
Goldman’s nautical trophy is a strange but inevitable outcome of Wall Street’s latest gold rush: lending to wealthy clients, the loans backed by everything from Warhols to wine.
Swiss National Bank now owns record $84B worth of US stocks [NYP]
Why do the Swiss like US stocks so much? The innocent answer is that the Swiss Bank can’t find anything better to invest in.
The sinister answer is that it is trying to keep the market up, maybe for a partner in the US who can’t stand stocks tanking.
Man Accused Of Peeing On Family At Metallica Concert [HuffPo]
Daniel Daddio, 44, of Albuquerque, was arrested after a family of three told employees at the University of Phoenix stadium they “felt warm liquid washing over their backs and legs,” according to KNXV TV.
The father, who was attending the show with his wife and 10-year-old daughter, told police when he turned around he saw the suspect holding his genitals.
