What we’re reading (9/26)
“I Taught And Worked With Amy Coney Barrett. Here’s What People Get Wrong About Her Faith.” (Washington Post). “After she graduated from law school, I wrote a one-line letter of recommendation for her to Justice Antonin Scalia: ‘Amy Coney is the best student I ever had.’ He was wise to hire her as a clerk. […] I would be astonished if anyone were to oppose her nomination on the basis of character or intellect. Anxiety about her confirmation instead seems driven by the fear that her religious belief is somehow incompatible with the impartiality demanded of a judge…[but] the only thing our Constitution said on the subject of religion — before the First Amendment was added — was that ‘no religious Test shall ever be required as a Qualification to any Office or public Trust under the United States.’ That has, for more than two centuries, been a guarantee of a tolerant pluralism in our country. The Constitution invites Catholics, evangelicals, Mormons, Jews, Muslims and nonbelievers alike to serve their country, and promises them that they won’t be interrogated about the way they choose to love and serve God.”
“Market Volatility Expected To Continue In The Week Ahead With Presidential Debate And Jobs Report” (CNBC). “Stock market volatility, with sharp ups, downs and reversals, is likely to be the norm again in the week ahead, as investors await Friday’s jobs report and watch headlines from Washington and the presidential debate.”
“Wall Street’s Biggest 5 Stocks By Value Are On Track For Their Worst Month Ever” (MarketWatch). “It is shaping up to be an ugly month for the overall equity market, but it could be an even worst stretch for the cadre of stocks that have generated the most bullish momentum for Wall Street since March…[a]pproximately $817 billion of market value has been lost by the quintuplet of heavy weights [AMZN, AAPL, MSFT, GOOGL] so far in September, which puts the group on pace for the steepest monthly slump on record.”
“Is It Insane To Start A Business During Coronavirus? Millions Of Americans Don’t Think So.” (Wall Street Journal). It makes eminent sense to me: cheap capital + a disruptive shock to social habits = opportunity. “Americans are starting new businesses at the fastest rate in more than a decade, according to government data, seizing on pent-up demand and new opportunities after the pandemic shut down and reshaped the economy.”
“Michael Jordan’s Big Play In NASCAR Could Help Diversify Its Fan Base” (New York Times). “This week, Jordan announced that he is joining Denny Hamlin, one of the most lauded drivers in the sport, to form a NASCAR team with Darrell “Bubba” Wallace Jr., the lone Black driver on NASCAR’s top level. It will begin competition in the 2021 season.”
