wiar 10-19-18

Mary FanslauWhat I Am Reading

October 19 (Friday)

Dow falls more than 300 points as the market’s October struggles persist (C)
Wall Street’s biggest bull: The market is ‘inappropriately’ pricing in a potential recession (C)
Goldman CEO Solomon says part of October’s market sell-off driven by programmatic trading (C)
It’s a Long Way Down for China Stocks Channeling Past Traumas (B)
China’s stock market is getting pummeled and history shows that is bad news for US markets (C)

Currencies & credit
U.S. Criticizes China’s Currency Practices, but Doesn’t Add Manipulator Designation (W)
Italy Turmoil Fails to Deter U.S. Investor From Peripheral Bonds (B)

Central banks
Quarles Backs Fed’s Gradual Policy Course (W)
Goldman Sachs sees five more Fed rate hikes through end of 2019 (R)
Cramer: The Fed’s attempt to preemptively curb inflation is ‘a mistake’ (C)

Inflation Is Back—and Unilever, Nestlé Are Taking Advantage (W)

Japanese inflation ticks up as oil rises but BOJ target remains elusive (R)

China’s third-quarter GDP growth set to hit weakest since 2009 amid trade war strain (R)

US politics
GOP Plans to Spend Millions to Help a Long-Shot New York Candidate (B)

Geopolitics & trade
Trump Says Khashoggi Likely Dead, Warns of ‘Severe’ Consequences (B)
Exodus From Saudi Event Rolls On as Goldman, Mnuchin Cancel (B)
Exclusive: U.S. asks for WTO panel over metals tariff retaliation (R)
Mattis Tries to Dial Back Confrontation With China (W)
Super Micro Tells Senators No Evidence of Chinese Hardware Hack (B)
U.S. Startup Accuses Huawei of Trying to Steal Its Technology (W)

Industries & companies
Autos: Tesla CEO Elon Musk just introduced a ‘lower-cost, mid-range’ Model 3 via Twitter (C)
FinTech: PayPal Profit Beats Estimates, an Encouraging Sign for Venmo (B)

Corporate finance
Tech Startups Stoke Market for IPOs (W)

Bangkok’s ‘Doctor Love’ Wants to Help Chinese Make Babies (B)

wiar 10-18-18

Mary FanslauWhat I Am Reading

October 18 (Thursday)

Dow slides more than 100 points again after Fed minutes point to more rate hikes (C)
Big Netflix Beat Has Analysts Debating How High Stock Can Go (B)
China is still the wildcard in the stock market’s wild ride — here’s why (C)
Fund Managers Increasingly Wary on Global Growth (W)

Credit, currencies, & commodities
Billionaire investor Leon Cooperman says bonds, not stocks, are in a bubble (C)
The Earnings Elephant in the Room (W)
Oil Tumbles on Jump in Inventories (W)

Central banks
Fed Minutes Point to Continued, Gradual Interest-Rate Increases (W) | Minutes
Fed Officials Debated Hiking Rates to Restrictive Territory (B)

U.S. Housing Construction Fell in September, Continuing Weak Stretch (W)

Europe Offers Britain an Olive Branch to Break Brexit Impasse (W)

US politics
This bitter House race in New York shows how health care is dominating the battle for Congress (C)
Trump says each Cabinet secretary should slash 5% of their budgets after he pledges to cut spending (C)
Treasury employee busted for allegedly leaking documents related to Paul Manafort, Russians (C)
Mueller Ready to Deliver Key Findings in His Trump Probe, Sources Say (B)

Geopolitics & trade I
Trump, Pompeo Cite U.S.-Saudi Ties as Khashoggi Crisis Escalates (B)
Khashoggi crisis threatens to alienate the foreign firms remaking Saudi Arabia’s economy (C)
Top Bankers Quietly Prep for Saudi While Their Bosses Skip Forum (B)
Ties to Saudi Prince Weigh On SoftBank Fund’s Future (W)

Geopolitics & trade II
China, World’s Biggest Exporter, Tries Branding Itself as an Importer (W)
Trump Administration Moves to End Deep Discounts for Packages From China (W)
Wall Street slashes earnings outlook for automakers and suppliers amid concern about China (C)

Industries & companies
Autos: Tesla Advances in China, Buying Land for a Factory (W)
FANGs: Netflix is adding almost as many subscribers in one year as HBO did in 40 years (C)
FANGs: Funds Back Proposal to Remove Zuckerberg as Facebook Chairman (W)
Financials: Banks Take Fight Against New Loan-Loss Rule to Washington (W)
Financials: Regulators Rescind Federal Oversight of Prudential Financial (W)
Pharma: Drug giant Pfizer offers early retirement ahead of layoffs in memo to employees (C)
Tech: IBM Shares Slide as Revenue Drop Renews Concerns (W)
Trucking: Uber Targets Trucking With New Trailer-Rental Business (W)

Corporate finance
Elon Musk says he’s going to buy $20 million of Tesla stock (C)

Mega Millions jackpot at $868 million, the second-largest US lottery prize ever (C)
College Readiness Declines, Especially in Math, ACT Shows (W)

wiar 10-17-18

Mary FanslauWhat I Am Reading

October 17 (Wednesday)

Dow jumps more than 500 points, posts best day since March as earnings fuel rally (C)
China Treasury holdings at their lowest in 14 months (C)
U.S. to Blame for Weaker China Currency (C)
U.S. Tax Changes Hit Global Investment Flows (W)

Central banks
San Francisco Fed’s Daly Favors Gradual Hikes in First Speech (B)
Trump says Fed is his ‘biggest threat’ because it is raising rates too fast (C)
Cramer: As long as the Fed doesn’t keep pushing rate hikes, stocks can keep rallying (C)

U.S. Job Openings Topped 7 Million for the First Time (W)
U.S. Manufacturing Capacity Increases for 16th Month in a Row (W)
U.S. Deficit Swells in Fiscal 2018 as Tax Cuts Take Bite (W)

Macron, Under Pressure, Walks Tight Line With Appointments (W)

Chinese Consumers Feel More Pain Than Official Data Suggest (W)
Inflation Stalking Russia Adds to ‘Hopelessness’ Among Consumers (B)

US politics
Trump says he’s not to blame if Republicans lose the House in midterms (C)

Geopolitics & trade
Trump slams mounting criticism of Saudi Arabia as a case of ‘guilty until proven innocent’ (C)
Suspects in journalist’s disappearance had close ties to Saudi prince: NYT (C)
Here Come the Trade War Price Hikes (B)

Industries & companies
FANGs: Netflix surges after crushing earnings (C)
FANGs: Advertisers Allege Facebook Failed to Disclose Key Metric Error for More Than a Year (W)
Financials: Five Key Takeaways From the Biggest U.S. Banks’ Earnings Reports (B)
Financials: Big Bank Earnings Show Wall Street Charging Ahead (W)
Financials: Bank of America CEO Moynihan says he cut jobs equal to the workforce of Delta Air Lines (C)
Pharma: Patents Used to Keep Humira Copies Out of U.S. (W)
Tech: IBM falls after revenue misses (C)

Corporate finance
Uber Eyes Valuation of $120 Billion for Possible 2019 IPO (W)

The Real Cost of College Is Flattening as Schools Give More Scholarships (W)

wiar 10-16-18

Mary FanslauWhat I Am Reading

October 16 (Tuesday)

Why the market is suddenly concerned Saudi Arabia will weaponize oil in Khashoggi dispute (C)
Goldman says the sell-off is just about over and tells investors to get back into growth stocks (C)
Small Caps Become Latest Winning Trade to Collapse (W)
FAANG Stock Losses Continue to Mount (B)
Emerging-Markets Selloffs: This One Is Different (W)
U.S. Tax Changes Hit Global Investment Flows (W)

Credit, currencies, & commodities
The Treasury 10-Year Yield May Not Be Above 3% for Long (B)
U.S. to Blame for Weaker China Currency (W)
U.S.-Saudi Tensions Put Oil-Price Discounts Into Play (W)

Central banks
Yellen Calls Trump’s Attack on Fed Counterproductive (W)

U.S. Retail Sales Rise Less Than Expected in September (W)
Actual Storms, Not Economic Ones, Explain Retail Sales Dip (W)

Merkel’s Allies Hit With Worst Election Showing Since 1950 (W)
May and Macron Strike Dovish Tone Before Big Brexit Summit (B)

US politics
Trump’s First Annual Budget Deficit Rises to a Six-Year High (B)
Trump, Calling Mattis a Democrat, Opens Door to His Exit (W)
Exclusive: Facebook to ban misinformation on voting in upcoming U.S. elections (R)
Why This Election Is So Hard to Predict (W)

Geopolitics & trade
Trump hints at ‘rogue killers’ in journalist disappearance (R)
It would’ve been nearly impossible for journalist Khashoggi to record inside the Saudi consulate using his Apple Watch (C)
JP Morgan and Ford cancel plans for Saudi investor event (R)

Industries & companies
FANGs: Google’s new Pixel 3 and Pixel 3 XL are two of the best Android phones you can buy (C)
Financials: Bank of America Profit Rises 32% (W)
Media: A Drama CBS Can’t Cancel—the One in Its Boardroom (W)
Media: Attention Shoppers: The Background Music You Hear May Not Be Licensed (W)
Retail: U.S. Retail Sales Miss Forecasts as Restaurant Receipts Drop (B)

Corporate finance
Sears, Finally Bankrupt, Now Tries to Avoid ‘Dustbin of History’ (B)
Icahn to Oppose Dell’s Purchase of DVMT Tracking Shares (W)

Jeff Bezos says tech’s biggest problems don’t have solutions yet, but ‘we’ll figure them out’ (C)

Hurricanes Blamed for Biggest Cuts to S&P 500 Earnings Estimates (B)

wiar 10-15-18

Mary FanslauWhat I Am Reading

October 15 (Monday)

Why it’s never a good idea to sell when the market goes down quickly (C)
Here’s why one analyst thinks the sell-off could be saved by earnings (C)
Why the Stock Market Went Loco (BR)
Investors’ Curious Comfort With Junk Bonds (W)

Central banks
Draghi Says Key Global Risk Is Sudden Jump in Interest Rates (B)
BOJ’s Kuroda warns of darkening global prospects as trade tensions weigh (C)
Kuroda Says Signal for Stimulus Exit Would Be Change in Target Rate (B)

Tremors Rattling World Economy: Takeaways From IMF Talks in Bali (B)
Nobel Prize-Winning Economist Joseph Stiglitz on Why Globalization Is Under Threat (BR)

Housing Market Positioned for a Gentler Slowdown Than in 2007 (W)

Germany’s Merkel is facing a crucial test of one of her key alliances (C)

Japan manufacturers’ mood rises, trade worries weigh on outlook: Reuters Tankan (R)

China property market feels fresh chill, ‘winter’ is coming (R)
In China, a Dot-Com Déjà-Vu (W)
‘Innocent bystanders’: Emerging economies struggle to contain capital outflows (R)

US politics
A ‘Kavanaugh bump’ is boosting GOP Senate candidates. But Trump is a different story. (C)

Geopolitics & trade I
Why international pressure against Saudi Arabia could ‘escalate very quickly’ and bring pain for everyone else (C)
Saudi Arabia warns against sanctions over Khashoggi (R)
JP Morgan’s Jamie Dimon pulls out of Saudi conference (C)

Geopolitics & trade II
Trump Threatens Another Round of China Tariffs (B)
China finds Trump’s team ‘very confusing’ to diplomats, ambassador to US says (C)
Mnuchin Says He’s Not Worried China Would Unload Treasuries (B)
Tariffs Hit Those Trump Wants to Help: U.S. Factories (W)

Industries & companies
FANGs: Why Amazon’s minimum wage hike was ‘inevitable’, and how others may soon follow in its footsteps (C)
Financials: Banks Will Benefit from Rising Rates. Other Sectors, Not So Much (BR)
Tech: Tech Stocks Could Rebound Again but the Risks Are Growing (BR)

Corporate finance
Harris to merge with L3 in all stock deal, creating US defense giant with $34 billion market value (C)
Sears’ habit of liquidating outside bankruptcy is making it harder to save itself now (C)

Not everyone is ready to ride as autonomous vehicles take to the road in ever-increasing numbers (C)

Mega Millions jackpot soars to $654 million after no one wins Friday drawing (MW)

wiar 10-13-18

Mary FanslauWhat I Am Reading

October 13 (Saturday)

U.S. Stocks Advance in Roller Coaster Session (W)
Here’s how much damage has been done to the stock market during a powerful rout (MW)
Behind Market Turmoil, Potentially Good News (W)
Here’s why stock-market investors suddenly freaked out over rising bond yields this week (MW)

Credit & commodities
Wall Street Sees Treasuries Yield Curve Flattening Into 2019 (B)
Record Exodus From Credit Funds Outpaces Flight From Stocks (B)
Corporate Loans Help Investors Fight the Fed (W)
Plenty of Oil, Just Not in the Right Places (W)
IEA Cuts Oil Demand Forecasts But Sees Prices Staying High (B)

Central banks
There’s another big reason why Trump could blame the Federal Reserve for rising interest rates (C)

U.S. Consumer Sentiment Cooled Slightly in Early October (W)
Strong economy has a downside for Main Street: Fewer workers means higher wages (C)

Merkel, Already Wobbling, Faces Fresh Blow in Historical Stronghold (W)

China’s Auto Sales Face First Annual Decline in Decades (W)

US politics
Trump Considers a Successor for Sessions (W)

Geopolitics & trade
U.S. and China Edge Closer to a Cold War (W)
U.S.-China trade talks must cover currency, U.S. Treasury chief says (R)
U.S. Opens Probe Into Alleged Chinese Mattress Dumping (W)
Jamie Dimon sounds warning about ‘geopolitical issues bursting all over the place’ (C)
Russia hits a snag in developing a hypersonic weapon after Putin said it was already in production (C)

Industries & companies
FANGs: Facebook Says Hackers Stole Detailed Personal Data From 14 Million People (B)
Financials: Rates Are Rising, But Banks Aren’t Worried About Consumers (W)
Financials: JPMorgan Profits Rise 24% Despite Trading Dip (W)
Financials: Wells Fargo Posts Surprise Revenue Rise With Consumer Loan Boost (B)
Industrials: GE Delays Release of Quarterly Results Until Oct. 30 (W)
Retail: Retail’s New E-Commerce Headache: Delivering Workers to Warehouses (W)

Corporate finance
Timeline: The rise and fall of Sears (C)
Sears, Lenders Nearing Deal to Keep Some Stores Open (W)

IBM earnings: Investors want to see how Watson holds on to AI, machine learning market (MW)

Cryptocurrencies suffer $18 billion drop in value over three days (C)
Alan Greenspan on How to Fix the American Growth Machine (W)

wiar 10-12-18

Mary FanslauWhat I Am Reading

October 12 (Friday)

The sell-off by the numbers: Stocks post worst 2-day stretch in eight months (C)
S&P 500 drops below key level watched by traders, signifying the bull market could be broken (C)
The Stock-Market Meltdown That Everyone Saw Coming (B)

Markets II
US stock futures open higher, pointing to rebound on Friday from this week’s massive sell-off (C)
Secular trends haven’t changed overnight, so don’t fear tech stocks, portfolio manager says (C)
Market timers say it’s still too early to jump back into stocks (MW)
In addition to the Fed, Trump can blame his tariffs for the latest market slump (C)

Credit & commodities
Junk-Bond Buyers Head for Hills, Pulling $4.9 Billion From Funds (B)
U.S. Treasury Staff Finds China Isn’t Manipulating Yuan (C)
Oil prices shed more than 5% during two-day stock market sell-off (C)

Central banks
Fed Officials See Strong Economy Justifying Interest Rate Rises (W)
Fed’s ‘glacial’ normalization not enough to cope with inflation risks: Stephen Roach (C)
Call ’em crazy, but Fed likely to keep raising rates (R)

The ‘pain threshold’ approaches for the housing market, analyst warns (MW)
Social Security Benefits to Get 2.8% Boost, Largest Since 2012 (W)

US politics
Dina Powell leaning toward staying at Goldman Sachs instead of becoming Trump’s UN ambassador (C)
Gov. Scott Walker trails, Sen. Tammy Baldwin leads in Wisconsin midterm races: NBC News/Marist poll (C)

Geopolitics & trade
Trump and Xi Plan to Meet Amid Trade Tension (W)
Trade Tensions Take a Toll on Germany’s Economy (W)
Canada sees little chance of quick end to U.S. metals tariffs: sources (R)

Corporate finance
Tencent Music will reportedly postpone IPO due to global market sell-off (C)
Lenders Make Push to Liquidate Sears (W)

When Markets Tank, Do This (W)
SEC Says Quarterly Reporting Won’t Change ‘Anytime Soon’ (W)

wiar 10-11-18

Mary FanslauWhat I Am Reading

October 11 (Thursday)

Dow skids 500 points, Nasdaq 200; S&P risks longest losing streak in 2 years (MW)
More than half of the S&P 500 is already in a correction as sell-off worsens (C)
Traders See Bad Day as `Slightly Overdue,’ Not a Reason to Panic (B)
Amazon, Alphabet, Twitter tumble as Barclays warns of choppy earnings season ahead (MW)

Central banks & IMF
IMF Warns of Possible Emerging-Markets Crisis (W)
Fed’s Evans sees a pause after lifting rates to around 3 percent (R)
Cramer thinks the Federal Reserve is behind the sell-off: ‘I really miss Janet Yellen’ (C)

U.S. producer prices rebound, wholesale inventories rise (R)
Business Prices Firmed Up in September (W)
Rents Flat Year-Over-Year for First Time Since 2012 (Zillow)
The Decade-Long Growth in Rentership Is Reversing (Zillow)
Rising health-care costs are eating away at your wages and you may not even realize it (MW)

China’s Huawei Seeks to Chip Away at Silicon Valley’s AI Supremacy (W)

Geopolitics & trade
Chinese finance ministry official says ‘optimistic’ on trade war breakthrough (R)
FBI director on whether Apple and Amazon servers had Chinese spy chips: ‘Be careful what you read’ (C)

Industries & companies
Autos: Tesla Is Closing In on $145 Million Plot for China Factory (B)
Pot: Altria rises on report company buying stake in marijuana producer; Other pot stocks climb (C)

Corporate finance
Sears crashes to record low after report says a bankruptcy filing could come as soon as this week (BI)
BlackRock Makes Private-Equity Bet (W)

For Next Census, Cameras in Space Replace Workers (W)

Michael Makes Landfall as Strongest Mainland Storm in 14 Years (B)

wiar 10-10-18

Mary FanslauWhat I Am Reading

October 10 (Wednesday)

Tech Snaps 3-Day Skid But Stocks Can’t Hold Gains: Markets Wrap (B)
Stocks Slip, Dragged Lower by Materials Sector (W)
This touted market predictor screams sell, but here’s why you might want to ignore it (MW)
Why investors shouldn’t fear the dominance of FAANG stocks (MW)
Yuan Lending Rate Surges as China Struggles to Stem Currency’s Slide (W)

IMF Lowers Global Growth Forecasts for 2018 and 2019 (W)

Central banks
Trump says he doesn’t like what the Fed is doing, central bank is going too fast in raising rates (C)
Rising yields suggests ‘conflicting factors’ over U.S. growth: Fed’s Kaplan (R)
Fed’s Kaplan Is ‘Comfortable’ With Another Three Rate Rises (W)

Mortgage rates jump past 5%, signaling more home price cuts ahead (C)

Italian Yields Would Need to Rise Much Further to Trouble Banks (B)
France’s Macron: Celebrated Abroad, Isolated at Home (W)

US politics
Health Care Crowds Out Jobs, Taxes in Midterm Ads (W)
Trump officials have talked to Goldman Sachs’ Dina Powell about possibly replacing Haley in UN role (C)
Interest Groups Compete for Trump’s TV Attention (W)

Geopolitics & trade
Trump repeats threat of more tariffs if China retaliates on trade (R)
Metal Tariffs Haven’t Cost Jobs (Yet) (B)
China slashes U.S. LPG imports amid trade war (R)
P&G gets steel tariff exemption for Gillette, Venus razors (R)

New Evidence of Hacked Supermicro Hardware Found in U.S. Telecom (B)

Industries & companies
Autos: Ford Falls Below $9 for the First Time in More Than Six Years (B)
Chemicals: PPG’s Warning on Costs Reverberates (W)
Energy: Here’s what Trump’s ethanol plan means for farmers, refiners and motorists (MW)
Energy: Big Oil’s Bet on Natural Gas Is a Slow Burn (W)
Energy: Exxon Puts Up $1 Million to Boost Carbon Tax (W)
FANGs: Google Appeals $5 Billion EU Fine in Android Case (W)
Financials: Bank Earnings: Expect Big Profits, But Buyer Beware (W)
Home Builders: U.S.’s Largest Home Builder in Talks to Offload Lending Unit (W)
Pot: Pot stocks pull back as Aurora Cannabis applies to trade on the NYSE (MW)

Corporate finance
Lyft Asks Banks for Pitches to Underwrite 2019 IPO (B)
Snap Is ‘Quickly Running Out of Money,’ Analyst Says (B)
Bill Ackman reveals $900 million bet on Starbucks, sees shares doubling in three years (C)

Google Reveals New Pixel Phone, Speaker to Chase Apple, Amazon (B)

wiar 10-09-18

Mary FanslauWhat I Am Reading

October 09 (Tuesday)

Selloff in Tech Shares Deepens, Drags Down Market (W)
Dow rises for first time in 3 days, but gains capped amid fear of higher rates (C)
Volatility Surge Has Strategists Asking What’s Next for Stocks (B)
Emerging Markets Look to Contain Damage (W)
Tech ETFs Carry On Without Big Names (W)

Credit & currencies
Rising yields could be a big problem for booming corporate profits (C)
U.S. Treasury still concerned about yuan depreciation: official (R)
Yields on Italian Bonds Hit 4½ Year High on Budget Concerns (W)

Central banks
Emerging markets ‘as prepared as they can be’ for U.S. rate moves: Fed’s Bullard (R)

US politics
Trump Says He Has No Plans to Fire Rosenstein (W)

Geopolitics & trade
Pence Unloaded on China; Here’s Why That’s Important (W)
U.S.-China Tensions Break Out in Beijing (W)
Chinese Exporters Find 18,927 Ways to Avoid U.S. Trade Tariffs (W)
Rising U.S.-China Tensions Threaten North Korea Efforts (W)

Industries & companies
Autos: Tesla’s Value Sinks by $10 Billion in a Week as Rout Deepens (B)
FANGs: A Google bug exposed the information of up to 500,000 users (C)
FANGs: Google did not disclose security bug because it feared regulation, says report (C)
FANGs: Alphabet to shut Google+ social site after user data exposed (R)
FANGs: Some advertisers are moving half of their search budget from Google to Amazon: ad industry sources (C)

Facebook launches home video chat—and promises it won’t spy on you (MW)
Cocaine, Reefer and the F-Word: Sometimes Alexa Goes a Little Crazy (W)

Two Top U.S. Economists Win Nobel for Work on Growth and Climate (W)
The Price of Financial Advice Is, Finally, Falling (W)
Fox Hires Former White House Official Hope Hicks (W)
MBA enrollment is down again. What’s the future of the degree? (WP)