Remember volatility? Well, it's back. Take a look, for instance, at the last three months of the Dow Jones Industrial Average.
Data: Factset; Chart: Lazaro Gamio/Axios
Between Aug. 17 and Oct. 9, the average daily range — the difference between the intraday high and the intraday low — was 177 points. Between Oct. 10 and Nov. 16, the average daily range was 455 points, 2.5 times greater.
General Electric's stock closed Friday at just $8.02 per share, which is down 75% from the July high of $33, down 80% from the pre-crisis high of $42, and down 85% from the all-time high of $60, set in August 2000.
Data:FactSet. Chart: Lazaro Gamio/Axios
The big picture: Those numbers, if anything, understate the degree to which GE has been diminished since its heyday.
For the first time in 29 years, the U.S. and China failed to reach a closing declaration at the Asia-Pacific Economic Cooperation summit, underscoring the severity of tensions between the world's two largest economies, reports AP.
The big picture: During the two-day summit in Papua New Guinea, Vice President Mike Pence — attending in place of President Trump — repeatedly criticized China for its hostile trade practices and warned developing nations of falling into a "debt trap" through China's generous infrastructure loans. Chinese President Xi Jinping, meanwhile, used his speech to condemn protectionism and unilateralism in a slight to the Trump administration. Trump and Xi are expected to meet at the G-20 in Buenos Aires later this month amid their ongoing trade war and the Trump administration's governmentwide effort to paint China as a bogeyman.
Chicken is out; pork is in. President Trump’s tariffs are inflating poultry prices while making it cheaper to bring home the bacon.
What's happening: The trade war has reduced pork exports to China and Mexico, Reuters reports, increasing supply in the U.S. In response, grocery stores and restaurants are pushing pork. Wendy’s is selling a burger topped with three strips of bacon, and the Food Lion grocery chain has special deals on pork.
President Trump criticized a recent New York Times story, which reported that he has privately been questioning the loyalty of Vice President Mike Pence, as "phony" and claimed that Times reporters Maggie Haberman and Kate Rogers refused to ask him for comment in a pair of Saturday tweets.
"The New York Times did a phony story, as usual, about my relationship with @VP Mike Pence. They made up sources and refused to ask me, the only one that would know, for a quote. I can’t imagine any President having a better or closer relationship with their Vice President then the two of us. Just more FAKE NEWS, the Enemy of the People!"
Reality check: The story includes a comment from White House Deputy Press Secretary Hogan Gidley: "The president absolutely supports the vice president and thinks he’s doing an incredible job helping to carry out the mission and policies of this administration."
In May, Walmart put the kibosh on cashierless shopping — it said that its customers aren't so interested in possibly faster checkout without human help. But this week, it's started trying again.
What's going on: In Dallas, Walmart's Sam’s Club launched "Now," a cashierless store half the size of a normal Sam’s Club. It will be a testing ground that will include augmented reality and mobile checkout.