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In his latest “Gloom, Boom & Doom Report,” veteran investor Marc Faber had a lot to say beyond commenting on markets. Faber detailed a number of racist views, including that “the U.S. would look like Zimbabwe” if it had been settled by black people instead of whites. He was promptly asked to leave the board of money manager Sprott. Meanwhile, former White House Communications Director Anthony Scaramucci apologized after his new media business published a Twitter poll on the Holocaust death toll.— Katie Robertson
Senator Lamar Alexander said a bipartisan deal has been reached on a package of fixes to stabilize Obamacare just two weeks before Americans start signing up for 2018 coverage. The two-year deal would allow crucial subsidies to health insurers to start flowing again, potentially lowering insurance premiums for those in the program next year. The Trump administration announced last week that it was cutting off the payments.
A U.S. judge blocked Trump’s third try at a travel ban just one day before it was to take effect. The administration is almost certain to appeal, and the case could again reach the U.S. Supreme Court. As with President Trump’s earlier two attempts at a travel ban, the central question will be whether animosity toward Muslims is a reason for the order.
Nafta ministers extend talks into 2018. The ministers leading negotiations ended the latest round of high-level talks by saying they would be extended into the first quarter of next year to resolve differences after Canada and Mexico rejected what they see as hardline U.S. proposals. Concern the Trump administration will carry through on its threat to torpedo Nafta is showing up in U.S. equities.
The Dow tops 23,000 for the first time, fueled by strong earnings. It’s the sixth 1,000-point milestone in the past 12 months and the fifth since Trump was elected president in November. The latest rally came amid a synchronized advance in the global economy with only tepid inflation that has enabled central banks to leave stimulus in place.
Smartphones are killing Americans, but nobody’s counting. There’s a historic spike in U.S. traffic fatalities, but federal data on the danger of distracted driving isn’t easily obtained. There are many reasons to believe mobile phones are far deadlier than National Highway Transportation Safety Administration spreadsheets suggest.
Tom Marino has dropped out of the running for drug czar. Trump said his nominee withdrew from consideration as the next director of the Office of National Drug Control Policy following reports that he pushed legislation making it harder for the government to combat the opioid crisis. The Pennsylvania congressman was facing growing opposition from key lawmakers.
The $125 million island compound under an hour from New York. Built by a J.P. Morgan scion on the North Fork of Long Island, the island retreat is listed for sale for just the third time in its 100-year-history. The 48-acre property—now called Dosoris Island—comes with six substantial houses and grounds designed by Frederick Law Olmsted, the landscape architect responsible for Central Park.