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More than 83 million people watched last night's presidential debate, making it the most-watched debate in history. Markets and voters seemed in agreement: Hillary Clinton won. While millions of viewers unpacked, fact-checked and replayed the first round, Donald Trump's allies scrambled to stymie the damage.
There's just a week and a half to go until they face off for round two on Oct. 9.
She won round one. The Democratic nominee took a page out of Trump’s playbook to beat him at his own game in their Monday night debate. She controlled the agenda and at times seemed happy to let him have the floor, growing increasingly content to set off a firework with an attack line, then sit back and watch the show. Clinton's odds of moving into the White House rose from an already-high 69 percent before the debate to 73 percent afterward, according to prediction market aggregator PredictWise. Wall Street largely agreed with popular opinion.
Trump took the bait and hooked himself, writes Bloomberg View columnist Jonathan Bernstein. “The entire 90-minute debate was a demonstration that Trump doesn't have the temperament to be president. Clinton was prepared–she always is–and she baited Trump early and often. And Trump got caught each time. He also hooked himself, including in at least two exchanges with moderator Lester Holt.”
Grocery store prices are plunging. In a startling development, food prices have fallen for nine straight months in the U.S. It’s the longest streak of food deflation since 1960 (with the exception of 2009, when the financial crisis was winding down). Analysts credit low oil and grain prices, as well as cutthroat competition from discounters. It’s not unusual to see a dozen eggs for 99 cents; a year ago, you would have paid, on average, three times that price.
More than half of shoppers turn to Amazon first. Fifty-five percent of those surveyed go to Amazon when searching for products, an increase from 44 percent a year earlier, according to a poll of 2,000 people released by the Internet marketing firm BloomReach. That's bad news for Wal-Mart and other retailers trying to make headway against Amazon in online shopping.
But online grocery is still anyone's game. Amazon controls less than 1 percent of a fragmented U.S. grocery business. American consumers are buying groceries online, but they haven't changed their food-buying habits as quickly as they have for, say, buying shoes or electronics. And competition is steep.
Elon Musk laid out his Mars plan. To him, there are two fundamental paths for humanity: We stay on Earth forever, until an eventual extinction event, or we become a multi-planet species. The SpaceX CEO said today that he wants to create a "self-sustaining city" on Mars. He outlined the costs, technical details and fuel to "make Mars seem possible."
We sniff out the upstarts in Napa wine. Scouting the latest must-taste wine projects is a serious Napa Valley sport, and Bloomberg's wine critic Elin McCoy plays the game. She sampled the promising newcomers and happily reports that not every current new wine worth sampling costs $100 and up (though many do). Read more from Bloomberg Pursuits' wine harvest special here.