Israel plans a “significant retaliation” to Tuesday’s massive missile attack from Iran that threatens to shift the Middle East to a regionwide war. “A full-scale war, or even a more limited one, could be devastating for Lebanon, Israel, and the region,” says Jonathan Panikoff, the director of the Scowcroft Middle East Security Initiative at the Atlantic Council.

The economic impact of US port strike that began this week will be determined by its duration. “If this strike goes on for a couple of days the implications are, well, rather short-lived, I’d say,” advises Lisa DeNight, managing director of national industrial research at Newmark. “If this drags on, it has cascading impacts throughout the global economy — not just the U.S. economy. So, the unpredictability of this issue here is really in play and it has the magnitude to really throw a giant wrench in global supply chains.”
Job openings in the US rebounded in August. “Job openings had a big gain, and while these numbers are volatile, it’s likely employers see falling interest rates spurring the economy and may want to staff up,” says Robert Frick, economist with the Navy Federal Credit Union.
US manufacturing activity contracted again in September, according to survey data. The net negative reading for the ISM Manufacturing Index marks the sixth straight monthly decline for business activity in the sector.
US sales of light vehicles (e.g. cars, pickup trucks, and SUVs) rebounded in September. The gain marks the highest level of sales in four months.
Defying recent forecasts of its demise as a competitive measure of asset allocation results, the 60/40 portfolio benchmark has rebounded sharply this year, advises a research note from TMC Research. This index that tracks a mix of 60% stocks and 40% bonds is approaching a 20% one-year return through Sep. 30, based on a 50-day moving average of the benchmark.