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Daily Scan: US stocks jump; Trump threatens to boycott debate

By NexChange
Capital Markets


Updated throughout the day

October 15

Good evening. Data aren't on the Fed's side.  U.S. stocks moved higher Thursday as a potential rate rise looks further out. The Dow was up 1.3%, the S&P 500 gained 1.5%, and the Nasdaq rose 1.8%. Consumer prices for September fell 0.2%, as expected, down from -0.1% in August. European and Asian stocks rallied Thursday as well, with the Stoxx Europe 600 growing 1.5%. Crude oil dipped 0.6%, finishing just over $46/barrel. Bottomline: A rate hike in the U.S. this month as about as likely as a snowstorm.

Here’s what else you need to know:

The Donald threatens to boycott GOP debate. Presidential candidate Trump wants things his way or the highway, and right now the Oct. 28 GOP debate is not going his way. Trump's campaign manager told the RNC Thursday that Trump likely won't show if the CNBC debate doesn't include opening or closing statements, or if it is longer than two hours total. The other GOP candidates also expressed distaste at the lack of opening and closing remarks. A Rand Paul aide reportedly told the RNC officials that "CNBC can go f--- themselves" if the candidates weren't given the option for statements. Politico

Goldman Sachs 3Q dips on weak bond trading; Citi beats expectations on lower costs. The investment bank posted EPS of $2.90/share on revenue of $6.86 billion. Analysts had expected earnings of $2.91 on revenue of $7.13 billion. Meanwhile, Citi put its legal costs behind it, and net income rose to $1.35/share vs predictions of $1.28. CNBC

Blackstone posts first quarterly loss since 2011. The New York-based private equity firm fell 40 cents a share last quarter, down from 41 cents a share during the same time last year. The firm's net income dropped 35 cents a share, compared with a 66 cents a share gain last year.  Wall Street Journal (paywall)

Jeb Bush raises $13.4 million. The former Florida governor's presidential campaign added $13.4 million in the third quarter, surpassing Marco Rubio and Ted Cruz. CNN

Former House Speaker pleads guilty. Dennis Hastert will plead guilty to charges that he paid $3.5 million to cover up decades-old wrongdoings while Hastert was a high school teacher in Illinois. Politico

Suspects identified in Lockerbie bombing. After nearly three decades, Scottish and U.S. investigators have identified two Libyan suspects responsible for the airplane bombing that killed 270 people in 1988. Another Libyan, Abdel Basset al-Megrahi, was the only person convicted for the bombing. He was sentenced to life in prison in 2001 and died in 2012 of cancer. Reuters

Myanmar signs cease-fire with rebels. The Asian country agreed to a cease-fire with eight ethnic rebel groups Thursday. While the cease-fire is a huge step for the tumultuous country, seven of the initial 15 rebel groups in negotiations did not join the agreement. National elections in the country formerly known as Burma are just three weeks away.

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