Fed Chairman Jerome Powell played down talk of America and the world heading for a recession, remarks that helped push stocks up Friday, topping a week of gains. September's mixed jobs report gave the Fed more ammunition to cut interest rates this month, something Wall Street also liked. But not everyone is optimistic: Billionaire hedge fund titan Ray Dalio, fresh from Burning Man, put the odds of a U.S. downturn at 25%.
What you'll want to read this weekend
Boris Johnson had a terrible week, and many are blaming Britain's own version of fired Trump aide Steve Bannon. Here's a guide to the latest twists and turns of the never-ending dance we call Brexit.
Jim Bianco writes in Bloomberg Opinion that while negative interest rates are having their moment, they're bad for the financial system.
People are shelling out $3.25 for a cup of high-end instant coffee. Meanwhile, the broader market for the magic bean is tanking.
Porsche is taking aim at Tesla with its electric Taycan Turbo. But at $150,000, it comes with a much higher price tag. Over in the world of autonomous driving, it turns out sensors can't even spot a fire truck.
Take a tour of Switzerland's massive hydroelectric dams.
What you'll need to know next week
- Apple will unveil its latest iPhones on Tuesday.
- Democrats may push for stronger gun laws as Congress returns.
- The European Central Bank is set to cut rates and buy more bonds.
- A narrower field of Democratic presidential candidates will debate.
- Big Tech is braced for greater scrutiny.
What you'll want to see in Bloomberg Graphics
See where the 100 largest private U.S. landowners hold 40 million acres—an area the size of Florida.
To contact the editor responsible for this story: David Rovella at drovella@bloomberg.net
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