wiar 01-18-18

Mary FanslauWhat I Am Reading

Jan 18 (Thursday)

Markets
Stocks Soar to Records on Earnings Enthusiasm (B)
‘Melt-Up’ Rally Propels Dow Above 26000 as Fear Turns to Greed (W)
There’s a ‘significant risk to markets’ that’s a bigger worry than where the economy is headed next (BI)
Low-yield era faces test from increased debt sales (FT)

Central banks
Fed’s Kaplan Sees 3 Rate Rises This Year, but Says More May Be Needed (W)
Senate Panel Again Votes to Back Powell as Fed Chief (W)
Fed Reports Tight Labor Markets but Modest Wage Gains (W)

US
U.S. Industrial Production Rose 0.9% in December (W)
The looming student loan default crisis is worse than we thought (Brookings)

China
Strongman Xi Jinping Now a Big Risk for China’s Economy (W)
China infrastructure falls foul of debt concerns (FT)
China’s VPN Crackdown May Aid Government Surveillance (W)

US tax reform
Buybacks, Pension Contributions and Savings: Companies Tout Tax Benefits (W)
Apple Plans to Pay $38 Billion in Repatriation Taxes (W)
Apple pledges to invest $30bn and pay $38bn tax bill (FT)
BofA to spend tax windfall mainly on shareholders (FT)

US politics
How Trump Has Upended U.S. Foreign Policy (W)
Republicans Bet Democrats Won’t Block Funding (B)

Geopolitics
US puts Russia and China at top of defence agenda (FT)
Koreas Strike Deal on Olympic Unity as U.S. Pressures North (W)
Facebook Widens Probe Into Alleged Russian Interference in Brexit (W)

Industries & companies
FAANGs: To Woo Amazon, Cities Tackle Everything From Traffic to Housing (W)
Financials: Goldman Loses Its Trading Edge (W)
Financials: Goldman Is Worth Less Than Morgan Stanley for the First Time in a Decade (B)
Financials: Bank of America Reports Profit Despite Tax-Related Charge (W)
Financials: Apple, Amazon, and other tech titans could threaten big banks in one key area (BI)
Media: Shari Redstone Seeks to Shake Up CBS Board, Pushes for Viacom Deal (W)
Tech: FTC Probes Broadcom Over Negotiations With Customers (W)

Technology
Google to extend reach of its machine learning (FT)

Cryptocurrency
Bitcoin plunges below $10,000 mark (FT)
Beyond the Bitcoin Bubble (N)
Beware: Even Joke Cryptocurrencies Are Going Through the Roof (W)
Crypto Lending Site’s Shutdown Renews Ponzi Scheme Allegations (B)

Offbeat
Old-Age Safety Net Frays for Millions of Americans (W)
One Accounting Firm Wants to Hire Retirees (W)