Forget OPEC: We’re Getting Close to Peak Oil Demand
http://www.bloomberg.com/news/articles/2016-10-16/what-opec-s-oil-u-turn-missed-peak-demand-keeps-getting-closer-iud8k6o5
Apple Dramatically Scales Back Its Big Automotive Plans
https://www.bloomberg.com/news/articles/2016-10-17/how-apple-scaled-back-its-titanic-plan-to-take-on-detroit
Caterpillar CEO Doug Oberhelman to Retire in March @FoxBusiness
http://www.foxbusiness.com/markets/2016/10/17/caterpillar-ceo-doug-oberhelman-to-retire-in-march.html
Most Americans Don’t Understand ‘The Cloud,’ But They Should @FoxBusiness
http://www.foxbusiness.com/features/2016/10/17/most-americans-dont-understand-cloud-but-should.html
Wilbur Ross: More Campaign Twists and Turns to Come @FoxBusiness
http://www.foxbusiness.com/politics/2016/10/17/wilbur-ross-more-campaign-twists-and-turns-to-come.html
Hasbro revenue, profit beat as Disney Princess dolls dazzle
http://www.reuters.com/article/us-hasbro-results-idUSKBN12H12X
Mismanagement cost NY pension $3.8 bln over 8 years-regulator
http://www.reuters.com/article/us-new-york-pensions-idUSKBN12H210
Weak utilities demand restrains U.S. industrial production
http://www.reuters.com/article/us-usa-economy-idUSKBN12H1VL
Required Reading
Global stocks fall, bond yields retreat from four-month highs Deutsche Bank’s options to solve capital dilemma seen to be limited Lack of new blood casts doubt over Wells Fargo’s change plan Boston Fed’s Rosengren maps case for a dove’s rate hike Frankfurt, Paris expect to welcome bankers from London in 2017
The Closing Look
On Monday, stocks were mostly lower as investors digested the latest round of economic and earnings data. Before the open, Bank of America (BAC) reported earnings and beat estimates but the stock didn’t rally. Around mid-day, Fed Vice Chair Stanley Fischer warned investors that if rates stay low for a long time it could lead to a deeper…