That's how one farmer described the olfactory impact of soybeans rotting. While much of rural America voted for President Donald Trump in 2016, his trade war has forced soybean farmers into a high stakes gamble. With China not buying, they're storing their crops instead of selling. Maybe Trump will do a deal, they hope, before huge swaths of the heartland begin to reek of decay. —David E. Rovella Here are today's top storiesTech shares crumbled along with the broader market thanks in part to signs of weakening demand for Apple's iPhone. Hey Wall Street, about that stagnant wage problem facing many Americans? Don't fret—your bonus may climb this year by 20 percent. Trump had a stormy Veteran's Day weekend after skipping a memorial for U.S. servicemen killed in World War I because of rain. He also reportedly didn't visit Arlington National Cemetery. U.S. financial giants are hedging their bets when it comes to China, taking a cautious approach on entering its $45 trillion securities industry. The newest tech billionaires are two Utah brothers who built an $8 billion software company—in their parents' basement, of course. Bubbles are destined to burst. On this week's episode of Odd Lots, we predict the fall of the unicorns. What's Joe Weisenthal thinking about? Semantics. While legislative movement on the healthcare front seems unlikely in the near-term, it's telling that Republicans now use the Democratic phrase "Medicare-for-all" to describe what they once derisively called "socialized medicine." What you'll need to know tomorrow What you'll want to read tonightMore than 30 are dead and hundreds missing as the nation's largest state burned over the weekend. Fueled by climate change, local officials say this could be the new normal. Trump at first threatened to withhold federal funding, blaming state officials for poor management, though most California forests are federally run. See the devastation in pictures. Have you started strategizing for 2019? We have. Don’t miss the annual Bloomberg Businessweek special report, The Year Ahead, on the major trends, disruptions, breakthrough products, innovations and movements to watch in the coming year. Get Bloomberg All Access in time to receive this issue in print and much more. Something new in your inbox. The Weekly Fix is an email with the latest fixed income news, charts, and insights. Sign up here to start getting it in your inbox on Fridays. Download the Bloomberg app: It's available for iOS and Android. |