Most Read on Bloomberg: Stocks, Wall Street's Ax, Uber, Yuan

The most-read Bloomberg News reports from the past week are listed below. See NI READSUMS for previous lists. The rankings below are based on daily statistics through Jan. 15.

Stories

1. U.S. Stocks Tumble as Risk Flight Intensifies, Brent Oil Sinks
(Bloomberg) -- U.S. stocks tumbled, with the Dow Jones Industrial Average plunging more than 370 points and small caps entering a bear market, as oil’s failure to maintain a 4 percent rally rekindled a flight from risk assets. Treasuries surged amid signs that demand for the relative safety of bonds is rising.

2. Dow Sinks 400 Points in Global Equity Rout as Crude Nears $29
(Bloomberg) -- Stocks tumbled around the world, with U.S. equities headed for their lowest levels since August, and bonds and gold jumped as oil’s plunge below $30 sent markets reeling. Treasuries extended gains as economic data and earnings added to concern that global growth is faltering.

3. Wall Street’s Ax Seen Reaping Best Year-End Profit Since ’06
(Bloomberg) -- In their quest for higher profits, the biggest U.S. banks have seized on the one thing they can reliably control: cutting costs.

4. U.S. Stocks Rally as Consumer Shares Offset Oil, China Selloffs
(Bloomberg) -- U.S stocks rose in the last 30 minutes of trading, bringing to an end a volatile session as gains in consumer and technology shares overshadowed lingering concern over China that continued to fuel a rout in commodities. Treasuries retreated.

5. U.S. Stock Rally Stems Global Rout as Oil Stabilizes; Gold Sinks
(Bloomberg) -- U.S. stocks rallied, with the Dow Jones Industrial Average clawing back some of Wednesday’s selloff, as oil’s advance beyond $31 a barrel bolstered energy producers and helped stabilize global markets rattled by concerns over China and sliding commodity prices.

6. U.S. Stocks Rise as Energy Shares Shrug Off Oil Slump Below $30
(Bloomberg) -- U.S. stocks built on their rally, rising for a second day amid speculation the China-fueled selloff that has coursed through global financial markets this year has gone too far. Treasuries climbed as oil dipped below $30 a barrel for the first time in 12 years.

7. Goldman Said to Mull Cutting Fixed-Income Staff More Than 5%
(Bloomberg) -- Goldman Sachs Group Inc. is considering cutting more than 5 percent of its fixed-income traders and salesmen later this quarter as it contends with an industrywide revenue slump, according to a person with knowledge of the matter.

8. Here’s What Morgan Stanley Is Telling Its Wealthiest Clients About Uber
(Bloomberg) -- Wealthy clients of Morgan Stanley and Bank of America just got dibs on shares of the unlisted Uber Technologies, but that doesn’t mean they’re getting a chance to see the ride-sharing company’s financials, according to an offering document seen by Bloomberg News.

9. Stocks May Fall More - Then It’ll Be Buy Time, Goldman Says
(Bloomberg) -- The China-led rout that is sending shock waves through global markets may get worse, and if it does, that’s when investors should turn back to equities, says Goldman Sachs Group Inc.’s Christian Mueller-Glissmann.

10. China Steps Up Yuan Defense as Soaring Offshore Rates Slam Bears
(Bloomberg) -- China stepped up its defense of the yuan, buying the currency in Hong Kong and sparking a record surge in the city’s money-market rates to deter bearish speculators.

Columns

1. No, China Isn’t Doomed to a Financial Crash: Christopher Balding
(Bloomberg View) -- Ever since the 2008 global financial crisis, pundits have tried to guess which country could set off the next implosion. Last week, China seemed to put itself forward as a pretty good candidate, as markets around the world panicked over the risks posed by its slowing economy. Those fears, while valid, are overdone.

2. Ted Cruz May Have a Serious Birther Problem: Francis Wilkinson
(Bloomberg View) -- When Senator John McCain was running for president in 2008, his campaign experienced turbulence over an issue currently vexing the campaign of Senator Ted Cruz: the phrase in the Constitution stipulating that the president must be a "natural born citizen."

3. Do Your Best to Resist the Powerball Temptation: Noah Smith
(Bloomberg View) -- With the Powerball lottery jackpot at record levels, the nation’s attention is riveted on tonight’s drawing. Everyone is weighing in on whether it makes economic sense to play the lottery. In terms of pure expected value, playing the lottery is a bad bet -- in fact, it really has to be, since if the house weren’t guaranteed to win, the lottery wouldn’t be offered in the first place. So why do people seem so willing to throw away their money?

4. Good Night for Trump, Bad One for Substance: Jonathan Bernstein
(Bloomberg View) -- Yes, it was a little weird that two Republicans Thursday night referred to the current president of the United States as a child. And, yes, when it comes to policy, Republicans remain very long on applause lines and very, very short on substance.

5. Uber Is Raising Some More Money From Rich People: Matt Levine
(Bloomberg View) -- Would you invest in Uber at a $62.5 billion valuation without looking at its financial statements? I don’t mean, like, reading every word of the notes; I mean, you don’t even get "basic financial data such as net income and official annual revenue figures." Sound good?

Multimedia

1. Dudley: Economic Outlook Little Changed Since Last FOMC
(Bloomberg) -- Federal Reserve Bank of New York President William Dudley speaks about the U.S. economy, inflation and monetary policy.

2. Obama Delivers His Final State of the Union Address
(Bloomberg) -- U.S. President Barack Obama delivers the annual State of the Union Address to Congress.

3. A critical Look at Federal Reserve Monetary Policy
(Bloomberg) -- Jim Rogers, chairman of Rogers Holdings, discusses his worry over U.S. debt, possible Federal Reserve actions and their impact on markets.

4. Carney Says Vigilance Required on U.K. Household Debt
(Bloomberg) -- Bank of England Governor Mark Carney participates in a panel discussion at a farewell symposium for Banque de France’s Christian Noyer in Paris.

5. Summers: Global Economy Can’t Withstand Four Fed Hikes
(Bloomberg) -- Former U.S. Treasury Secretary Lawrence Summers talks about the global economy’s ability to handle four Federal Reserve rate increases in 2016.

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