14 Oct 20 - Wall Street Takes a Breather | Telstra Jumps on Dividend Global markets took a breather overnight (S&P 500 Index -0.6%) with hopes of stimulus before the election fading & as US banks were weaker on the back of initial 3rd quarter results. Banks led losses overnight after JPMorgan said its surprisingly-good reserve release didn’t reflect a better view of the economy and Citigroup reported a jump in costs. Johnson & Johnson sank as the drugmaker paused its late-stage study of a coronavirus vaccine. As we move through 3rd quarter profit-results will remain closely watched by investors.   Telstra (TLS:ASX / TLS:NZX) Telstra shares jumped +4% yesterday after chairman John Mullen said the board was prepared to temporarily overshoot its dividend pay-out ratio to ensure it continues to pay shareholders a dividend of 16 cent per share. We currently have a BUY rating on TLS given its current valuation and attractive dividend yield of 5% in a...