wiar 7-13-17

Mary FanslauWhat I Am Reading

Jul 13 (Thursday)

Markets
Dow Industrials Climb to Record Close (W)
Stocks and Treasuries lifted by ‘dovish’ Yellen (FT)
Earnings Party Fades for the Stock Market (B)
The U.S. stock market is 66% higher than it should be (MW)
The most popular measure of the stock market’s value ‘deserves to be trashed’ (BI)
Tech stocks are scaring traders silly (BI)

Credit
Pool of Negative-Yield Debt Shrinks Rapidly as Bond Market Turns (B)
Why Credit Spreads Are Resisting Threats From Rising Rates (B)

Commodities
Oil Lingers Near $45 as U.S. Supply Draw Meets Tepid Reaction (B)
Halliburton Says Oil Will Spike in 2020 After $2 Trillion in Industry Cuts (B)
Nigeria Signals Willingness to Agree on Oil Production Cap (B)
U.S. Wheat Output Is Looking Better Than Analysts Had Feared (B)

Central banks
Beige Book Adds to Fed’s Conundrum Over Jobs and Wages (B) | Beige Book
Yellen Expects Fed to Stick to Gradual Rate-Increase Plan (W) | Testimony
Yellen Keeps a Gradual Rate-Hike Outlook as Inflation Puzzles the Fed (B)
Only in Trumpland is Gary Cohn suitable Fed chair (R)
Janet Yellen went to Congress and got grilled about the Fed’s leaks and secret speeches (BI)
The Bank of Canada rate hike sends the loonie to an 11-month high (BI)

US
As U.S. Infrastructure Ages, Waterways Face Critical Point (W)
An Airport Awaits Infrastructure Takeoff (W)

Europe
Germany Bolsters Veto Powers Over Foreign Takeovers (W)

China
China’s Bid to Curb Its Booming Housing Market Has Only Made It Hotter (W)

Japan
Japan needs Abenomics, with or without the man (FT)

US politics
GOP Sets Health Vote for Next Week (W)
What happens if Congress doesn’t repeal Obamacare (NN)
Here’s How the Obamacare Marketplaces Are Doing, State by State (B)
Trump Defends Son After Emails on Russia Meeting (W)
Trump family’s Russia interactions — a timeline (FT)
Trump’s FBI Pick Vows to Resist Political Pressure (W)
Trump nominates Quarles as Fed banking watchdog (FT)
CITI: Trump’s ‘risk of impeachment’ is higher after the Donald Trump Jr. email bombshell (BI)

Geopolitics
Russian, NATO Planes Play Risky Game Over Baltic Sea (W)

Industries & companies
Autos: Nine Reasons To Be Bearish On Tesla (BR)
Biotech: Amicus Gets Nod From FDA to Submit Experimental Drug for Approval (W)
Consumer: Pepsi Says It’s Facing the Same Trends That Are Battering Retail (B)
FAAMGs: Amazon’s Prime Day Generates Estimated $1 Billion in Sales (B)
FAAMGs: Apple Agrees to Store Cloud Data in China (W)
FAAMGS: French Court Throws Out Google’s $1.3 Billion Tax Bill (W)
Financials: Wells Fargo trims auto loans as market cools, risk overhaul kicks in (R)
Industrials: The Amazon Threat Has Its Limits for This Industrial (B)

Offbeat
WeWork Becomes World’s Fifth Most-Valuable Startup (B)