“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” — Warren Buffett

1. Foreign Buying of U.S. Treasurys Softens, Unsettling Financial Markets — foreign investors, traders and central bankers are buying fewer Treasurys. The foreign pullback has helped fuel a bond selloff this fall, which has driven the 10-year yield to 3.17% and has shaken the nine-year-long rally in U.S. stocks, and that continuing reductions in foreign appetite could further unsettle financial markets. China and Japan still both own more than $1 trillion of U.S. debt, according to the U.S. data.
2. Amazon, Qualcomm partner on Alexa headphones — Qualcomm is teaming up with Amazon (NASDAQ:AMZN) to spread the use of its voice assistant, releasing a set of chips that any maker of Bluetooth headphones can use to embed Alexa directly into the device. The functionality would be similar to Apple’s (NASDAQ:AAPL) AirPods, which let users tap the devices to talk to Siri.
3. Moody’s Decided Against Cutting Italian Debt Ratings to Junk — the euro is under pressure amid a bout of disappointing data on the eurozone’s two largest economies. German business activity was shown to have grown by its slowest rate for nearly three and a half years, while French manufacturing also struggled as its PMI index hit a 25-month low.
4. Target Ramps Up Same-Day Delivery Program and Offering Free Two-Day Shipping — In a bid to win shoppers over rivals like Walmart (NYSE:WMT) and Amazon (NASDAQ:AMZN), Target (NYSE:TGT) for the first time ever is offering free two-day shipping – with no minimum purchase required – this holiday season. Target said its “Drive Up” service – where shoppers can place their orders online and have them brought directly to their cars – will also be available at nearly 1,000 stores.
5. U.S. to China: No Trade Talks Without Firm Proposal — the U.S. is refusing to resume trade negotiations with China until Beijing comes up with a concrete proposal to address Washington’s complaints about forced technology transfers and other economic issues, officials told WSJ. The impasse threatens to undermine a meeting between President Trump and Xi Jinping at the G20 summit in November. Businesses have been counting on sufficient progress for the suspension of the next round of U.S. tariffs.
6. AAII Weekly Sentiment Survey — according to the latest weekly sentiment survey from AAII, bullish sentiment saw another decline this week falling from just under 34% to 27.97%. That’s low enough to rank as the fourth weakest reading in bullish sentiment this year.

On the bearish side, negative sentiment rose by a similar amount that bullish sentiment declined, jumping from 35.0% up to 41.0%. That’s the highest reading since the last week of June, right before the July 4th rally, and the third highest reading in bearish sentiment of the year.