wiar 07-25-19

Mary FanslauWhat I Am Reading

July 25 (Thursday)

S&P 500 and Nasdaq close at record highs as tech sector shakes off new regulatory threat (C)
Chip Makers Help Lift U.S. Stocks (W)
The Municipal-Bond Market Is Now Controlled by Just a Few Firms (W)
Falling Real Yields Signal Worry Over U.S. Economy (W)

Central banks
Prospective Fed Nominee Judy Shelton Resigned From EBRD Job (W)
Investors Wonder if the ECB Can Do Enough to Make a Difference (W)
El-Erian: Are central banks losing their big bet?

U.S. New Home Sales Picked Up in June (W)
A U.S. Recession Isn’t Imminent If You Look at Google Trends (B)

Johnson Takes the Helm in Britain, Gears Up for Brexit Battle (W)

Geopolitics & trade
Europe Gets Caught in the U.S.-China Crossfire (W)
Treasury Secretary Finds No Security Concerns With Google Work in China (W)
North Korea Fires Two Projectiles off Its East Coast (W)
North Korea fires suspected missiles into ocean, nuclear talks in doubt (R)

Industries & companies
Airlines: Boeing could suspend 737 Max production if the planes’ return is delayed further, sending stock lower (C)
Autos: Tesla falls after posting wider-than-expected loss (C)
Autos: Tesla Slumps as Musk’s Expansion Plans Put Profit Out of Reach (B)
Autos: Ford shares plunge after earnings fall short, 2019 forecast disappoints (C)
FAANGs: Apple Comes First in Its App Store, Thwarting Rivals (W)
FAANGs: Facebook reports better than expected second-quarter results (C)
FAANGs: Facebook Posts Strong Earnings, Revenue Growth (W)
FAANGs: Facebook Board to Tighten Oversight, as Zuckerberg Keeps Control (W)
FAANGs: Treasury’s Mnuchin says Amazon ‘destroyed’ U.S. retail sector (R)
Pharma: Allergan Recalls Breast Implants After FDA Cites Lymphoma Link (W)
Tech: Big Tech’s Risks Aren’t Priced In (W)
Tech: PayPal Scales Back Outlook, Spooking Investors (W)

Corporate finance
U.S. Poised to Approve Merger of T-Mobile, Sprint (W)

wiar 07-24-19

Mary FanslauWhat I Am Reading

July 24 (Wednesday)

Dow jumps more than 150 points as US-China trade talks to begin next week, Coca-Cola earnings beat (C)
Stocks Climb on Upbeat Earnings (W)
Promise of Rate Cuts Lifts Range of Assets (W)
Investors Are Paying to Lend to McDonald’s, Not Just to Eat There (B)

Central banks
Who’s ready for decades of low or negative U.S. interest rates? (MW)

IMF Cuts Global GDP Forecast for 2019, Citing Fallout From Trade Tensions (W)

Home Sales Stumble, as Pricey West Coast Markets Suffer Declines (W)

Johnson to Become U.K. Prime Minister as Brexit Test Looms (W)

Geopolitics & trade
U.S., China Set to Resume Trade Talks in Shanghai Next Week (W)
Trump Wants to Punish Guatemala Over Failed ‘Safe Third Country’ Deal (W)

Industries & companies
Autos: Tesla’s Sales of Higher-End Cars Erode in Key Market (W)
Consumer: Investors Guzzle Coca-Cola but Cool on Kraft (W)
FAANGs: Apple Dominates App Store Search Results, Thwarting Competitors (W)
FAANGs: How to Get a $5,000 Amazon Credit: Buy a House Through Realogy (N)
Financials: American Express to Refund $1.6 Million After Forex Probe (W)
Logistics: UPS to Start 7-Day Delivery (W)
Tech: Big Tech Hit With Broad U.S. Antitrust Probe as Scrutiny Mounts (B)
Tech: Snap Posts Record User Growth (W)
Wireless: The Hottest Phones for the Next Billion Users Aren’t Smartphones (W)

Facebook’s Libra currency spawns a wave of fakes, including on Facebook itself (WP)

Corporate finance
Apple’s pursuit of Intel’s modem unit is all about ‘doubling down’ on 5G (C)

Kylie Jenner can make more money in one Instagram post than many people earn in a lifetime (MW)

wiar 07-23-19

Mary FanslauWhat I Am Reading

July 23 (Tuesday)

Stocks Surge on China’s New Nasdaq-Like Market (W)
There Are Green Lights All Over the Place for U.S. Stock Bulls (B)
Semiconductor Stocks Power Higher (W)
U.S. Shale Producers Benefit as Oil Disruptions Plague Middle East (W)

Europe Braces for Brexit With Boris Johnson (W)

US politics
Elizabeth Warren’s ‘Economic Crash’ Call Spotlights Democrats’ Line of Attack on Trump (B)
Elizabeth Warren’s recession scare appears long on fear, short on facts (C)
White House and Congress Reach Deal on Spending, Debt Ceiling (W)

Geopolitics & trade
The Guatemalan City Fueling the Migrant Exodus to America (W)
Tiny Apartments and Punishing Work Hours: The Economic Roots of Hong Kong’s Protests (N)

Industries & companies
Aerospace: Boeing’s 737 MAX Grounding Spills Over Into Economy, Weighs on GDP (W)
Autos: Ford’s China Sales Fall, Hurting Its Global Ambitions (W)
Consumer: Whirlpool Raises Profit Forecast While Controlling Costs (W)

Corporate finance
Apple is reportedly in ‘advanced’ talks to buy Intel’s modem division for $1 billion or more (C)
Microsoft to Invest $1 Billion in Artificial-Intelligence Startup (W)

Bitcoin vs Libra: Here are the key differences between the two cryptocurrencies (C)

Hollywood doesn’t adjust the box office for inflation, but if it did, these would be the top 10 highest-grossing films of all time in the US (C)
Proving you deserve $20,000 from the Equifax settlement will be nearly impossible (C)

wiar 07-22-19

Mary FanslauWhat I Am Reading

July 22 (Monday)

Tech Rally Powers Record Gains for Stocks (W)
Even Passive Giants Aren’t Immune From Investors’ Changing Tastes (W)

Corporate Tax Rates Fall, but Unevenly (W)

Shinzo Abe Is Set to Become Japan’s Longest-Serving Prime Minister (W)

Geopolitics & trade
Chinese Money in the U.S. Dries Up as Trade War Drags On (N)
Base Deal Advances China’s Quest for Military Network (W)
Hong Kong police fire rubber bullets, tear gas as protests descend into chaos (C)

Industries & companies
Consumer: Consumer Giants Turn From Diapers to Eye Rollers and Jelly Masks (W)
FAANGs: Amazon’s updated suspension policy still has sellers worried about getting inexplicably booted (C)
Financials: Fight the Fed With These Three Regional Bank Stocks (BR)
Logistics: FedEx Stock Could Deliver a 33% Total Return (BR)
Media: Disney bought Marvel for $4 billion in 2009, a decade later it’s made more than $18 billion at the global box office (C)
Pharma: J&J Faces Key Test in Defense Against Talc-Safety Lawsuits (W)
Retail: With So Many Vacant Stores, E-Commerce Is Only Part of the Problem (W)
Retail: Aiming Higher on Target’s Stock (BR)
Tech: SoftBank: The Biggest Bet on Tech (BR)
Tech: As Instagram tests its ‘like’ ban, influencers will have to shift tactics to make money (C)

wiar 07-20-19

Mary FanslauWhat I Am Reading

July 20 (Saturday)

Stocks End Week Lower as Fed Signals Small Rate Cut (W)
Fed Officials Shake Markets With Rate Cut Comments (B)
Why Is Wall Street So Sold on the 50-Basis-Point Rate Cut? (W)
Debt-Ceiling Impasse Draws Bond Traders’ Focus as Fed Goes Quiet (B)
Euro May Weather a Dovish ECB Amid Policy Divergence Bets (B)

Central banks
Fed Dove James Bullard Backs Quarter-Point Cut, Would Love to Be Chair (B)
Fed Officials Signal Quarter-Point Rate Cut Is Likely in July (W)
Fed’s Rosengren not on board for rate cut: ‘I think we should wait’ (C)
Trump’s public attacks have ‘no effect’ on Fed policy, Rosengren says (C)
Trump wades into debate over controversial Fed speech Thursday, calls for end to tight policy (C)

U.S. Consumer Sentiment Held Steady in Early July (W)

US politics
Trump’s Electoral College Edge Could Grow in 2020, Rewarding Polarizing Campaign (N)

Geopolitics & trade
The F-35 has already freaked out Iran and changed everything in the Middle East (C)
British foreign minister ‘extremely concerned’ by Iran tanker seizure in the Strait of Hormuz (C)
Trump hosts US airline executives — and their Qatari rival — amid tensions over Gulf state subsidies (C)
Brazil’s Leader Plans to Name Son as Ambassador to U.S. (W)

Industries & companies
FAANGs: Amazon hires Trump-allied lobbyist Jeff Miller as president threatens to intervene in battle over Pentagon contract (C)
FAANGs: Amazon Offers Sellers a Leg Up, With a Catch (W)
Tech: Microsoft’s Cloud Business Drives Record Sales (W)
Tech: Tinder Bypasses Google Play Joining Revolt Against App Store Fee (B)
Tech: We Tested 5G Across America. It’s Crazy Fast—and a Hot Mess (W)

Corporate finance
Budweiser Brewer to Sell Australian Unit to Japan’s Asahi (W)
PepsiCo Expands in Africa With $1.7 Billion Deal (W)
Startup Investment to Keep Soaring After Record Year (W)
Blackhawk Files Chapter 11, Joins List of Bankrupt Coal Miners (B)

As Heat Wave Strikes, Even Low Temperatures Forecast to Hit Records (W)

wiar 07-19-19

Mary FanslauWhat I Am Reading

July 19 (Friday)

Now the market thinks the Fed could make an even deeper cut to rates later this month (C)
The Muni Bond King’s Warning to Wall Street: Cut Off Our Rival or Else (B)

Central banks
Fed’s Williams hints at more aggressive rate cuts: ‘Better to take preventative measures’ (C)
Clarida Says Fed Shouldn’t Delay Cuts Until Economy Falters (B)
What Lagarde Brings to the ECB: Flexibility (W)
MMT’s Kelton Sees Central Banks Quietly Yielding to Governments (B)

US politics
House passes bill to hike the federal minimum wage to $15 per hour (C)
Warren Takes Aim at Private-Equity Funds (W)
Trump Talked to Cohen as Lawyer Tried to Bury Affairs, U.S. Says (B)

Geopolitics & trade
Trump says US Navy destroys Iranian drone in ‘defensive action,’ escalating tensions in Gulf region (C)

Industries & companies
Aerospace: Boeing to take $4.9 billion hit in second quarter on 737 Max grounding (C)
Tech: Microsoft’s Cloud Business Drives Record Sales (W)

The Future of the City Is Childless (The Atlantic)
Dream of Retiring Abroad? The Reality: Medicare Doesn’t Travel Well (N)

wiar 07-18-19

Mary FanslauWhat I Am Reading

July 18 (Thursday)

Stocks Lower as Earnings Season Starts With Growth Concerns (W)
Negative-Yield ‘Quicksand’ Risks Trapping Even the U.S. Bond Market (B)

Central banks
In Donald Trump vs. Jay Powell, New Battle Lines Are Being Drawn (B)
Fed’s Beige Book Reports Modest Growth, Trade Worries (W)
Fed’s George Suggests She’s Not Ready to Cut Rates (W)

U.S. housing market stuck in a rut even as mortgage rates fall (R)
Home Builders Get a Reality Check (W)
Foreign purchases of American homes plunge 36% as Chinese buyers flee the market (C)

China’s State-Driven Growth Model Is Running Out of Gas (W)

Japan’s Answer to Its Pension Problems: Invest Like the U.S. (W)
Japan manufacturers’ mood hits three-year low: Reuters Tankan (R)

US politics
Trump Rests His 2020 Hopes on Some Old Tactics (W)
House Passes Motion Blocking Bid to Impeach Trump (W)
Trump Expressed Concerns About Pentagon Cloud-Computing Contract (B)

Geopolitics & trade
U.S.-China Talks Stuck in Rut Over Huawei (W)
U.S. ‘Shot Itself in the Foot’ by Quitting Iran Deal, Zarif Says (B)
Japanese official says negotiators working hard on U.S.-Japan trade deal (R)

Industries & companies
FAANGs: Netflix just missed hard on the only number that matters — international subscriber growth (C)
FAANGs: Amazon Faces Probe in Europe Over Use of Merchant Data (W)
FAANGs: Facebook’s Cryptocurrency Faces Second Day of Critical Hearings (N)
Financials: Consumers Lift Profit at Bank of America (W)
Tech: IBM Revenue Lags as Cloud Pivot Remains a Challenge (W)

Elon Musk’s Neuralink Shows Off Advances to Brain-Computer Interface (W)
Despite High Hopes, Self-Driving Cars Are ‘Way in the Future’ (N)

Corporate finance
China’s Didi Seeks Up to $2 Billion as Ride-Hailing Firms Want Investors to Fund Growth (W)

Read this before using FaceApp — you give up more personal data than you realize on this Russian-made app (MW)

wiar 07-17-19

Mary FanslauWhat I Am Reading

July 17 (Wednesday)

One of the oldest investing theories on Wall Street has yet to confirm this year’s rally is for real (C)
How the Dow could zoom past 31,000 by the end of 2020 (NN)
Daily Markets Overview

Stocks Fall as Banks Post Mixed Earnings (W)
Is the Federal Reserve on the verge of sparking a stock-market ‘melt-up’? (MW)
A Leveraged Loan Collapses and Reveals Key Risk in Credit Market (B)

Central banks
Powell says ‘uncertainties’ have increased chances of a rate cut (C)
Powell Maintains Fed Pledge to Act to Sustain U.S. Expansion (B)
Powell Says Fed Must Pay Greater Attention to Global Developments (W)
Fed’s Charles Evans says he’d be comfortable with ‘a couple’ rate cuts before the end of the year (C)

The US consumer is keeping the economy from tanking and will get another boost from the Fed (C)
U.S. Industrial Production Unchanged in June (W)
Outlook for Second-Quarter Growth Firms (W)

Bad Loans in Europe Tumble, but They Are Never Fully Gone (W)
Older Employees Breathe New Life Into Europe’s Labor Market (W)
Christine Lagarde Faces a New Challenge in Europe (N)

Geopolitics & trade
Trade war to drag on as Trump says long way to go and China strikes hard-line tone (C)
Trump Says He Could Impose More China Tariffs If He Wants (B)
Trump Targets Google’s China Ties, Citing Thiel (W)
Peter Thiel’s comments about spies in Silicon Valley have some basis in reality, but no evidence (C)
Democrats Prepare House Vote Condemning Trump’s Tweets (W)

Industries & companies
Consumer: Johnson & Johnson Bumps Up Sales Target (W)
FAANGs: Swiss group that’s supposed to oversee privacy for Libra says it hasn’t heard from Facebook at all (C)
FAANGs: Facebook’s Crypto Plan Called ‘Delusional’ as Senate Digs In (B)
FAANGs: Facebook Cryptocurrency Plans Have a Problem: Facebook’s Reputation (N)
FAANGs: Facebook Questioned by Lawmakers on Its Libra Digital Currency (W)
FAANGs: Facebook tells Congress it shouldn’t be broken up because Instagram and WhatsApp have thrived (C)
FAANGs: Searches for ‘Canceling Amazon Prime’ Spike on Prime Day (B)
Financials: Biggest Banks Feel Fed Pain as Lower Rates Start to Hit Revenue (B)
Financials: Big banks signal Fed rate cuts may not be so great for them (C)
Financials: Consumer Lending Drives Bank Profits as Trading Slumps (W)
Media: Disneyland has been empty of late and the new ‘Star Wars’ attraction appears to be a factor (MW)

Don’t Scoff at Influencers. They’re Taking Over the World.

wiar 07-16-19

Mary FanslauWhat I Am Reading

July 16 (Tuesday)

Rate cut with stock market at all-time highs? It’s been done before (MW)
This stock-market canary has keeled over (MW)
Wall Street firms see increased chance that Trump takes action to weaken the dollar (C)

For Decoding Labor Market, Unemployment Rate May Not Do the Job (W)

China Growth Slows, Raising Pressure to Step Up Stimulus (W)
China’s Economic Growth Hits 27-Year Low as Trade War Stings (N)

Japanese Party Takes Aim at Abe’s ‘Womenomics’ in Election Campaign (W)

US politics
Trump weighs ousting Commerce chief Wilbur Ross after census defeat (C)
Biden’s New Plan for Health Care Is a Nod to the Past (W)
Why America’s tariff-hit farmers still support Trump (N)

Industries & companies
FAANGs: Amazon is using Prime Day this year to try to win in fashion (C)
FAANGs: The Amazon Prime Day Deal That Walmart and Target Can’t Match (W)
FAANGs: Amazon workers’ Prime Day strike begins in Minnesota (C)
FAANGs: Facebook’s real goal with Libra is to become even more of a utility (C)
FAANGs: Facebook Faces Bipartisan Resistance to Cryptocurrency Plans (W)
FAANGs: Mnuchin: US has ‘very serious concerns’ that Facebook’s Libra could be misused by terrorists (C)
Financials: Citigroup Reports Higher Earnings as Bank Results Begin (W)
Utilities: PG&E Braces for Power Cuts; Tesla, Others See an Opening (W)

Corporate finance
Charles Schwab in Talks to Buy USAA Wealth-Management, Brokerage Units (W)
Putting The Equity Back Into Private Equity (W)

Electric Airplanes Start to Take Off (W)

wiar 07-15-19

Mary FanslauWhat I Am Reading

July 15 (Monday)

Playing the Fed’s Next Rate Move (BR)
Small-Cap Stock Picks for an Expensive Market, According to Delphi’s Scott Black (BR)
The Black Hole Engulfing the World’s Bond Markets (B)
Bond Returns Have Been Spectacular. Don’t Count on a Sequel. (N)
2019 Midyear Roundtable: Where to Find Value Now (BR)

It’s Past Time to Train Americans for the New Economy, Goldman’s Abby Joseph Cohen Says (BR)

How to defuse the threat that Matteo Salvini poses to the euro (E)

US politics
Pelosi sets spending demands for two-year budget deal (R)
Trump Renews Attack on ‘Weak, Ineffective’ Ex-Speaker Paul Ryan (B)

Geopolitics & trade
Pressures On China’s Manufacturing Sector Will Impact The West
Huawei Plans Deep Job Cuts in U.S. (W)
A Cold War With China Has Already Started, Epoch’s William Priest Says (BR)

Industries & companies
FAANGs: FTC Fine Alone Won’t Get Facebook Out of Crosshairs (W)
Retail: Store closures accelerate and may top 12,000 in 2019. Here’s what’s closed so far this year (C)
Retail: Barneys explores possible July bankruptcy filing as it grapples with rent hike at Manhattan flagship (C)
Tech: Snap’s stock is up more than 200% from its low and is a huge winner in 2019 (C)

Facial Recognition Tech Is Growing Stronger, Thanks to Your Face (N)
A Mutual Fund That Succeeds by Taking the Emotion Out of Investing (BR)
50 Years After the Moon Landing, the Space Economy Is Starting to Take Shape (BR)