wiar 08-17-18

Mary FanslauWhat I Am Reading

August 17 (Friday)

Markets
Dow soars more than 400 points on word of new trade talks with China, Walmart’s blowout beat (C)
Why China’s Yuan Fall Hasn’t Stopped Stocks—Yet (W)
U.S. Stocks Vulnerable as Tech and Momentum Become One Trade (B)
As Lira Rebounds, Investors Find Other Ways to Bet Against Turkey (W)

US
Booming Walmart, Cisco results show US economy’s strength is real and broad-based (C)
Housing tipping back to a buyer’s market as sellers cut prices (C)

Europe
Why Can’t Europe Do Tech? (B)

Emerging
Turkey’s Energy Bill Soars Amid Crisis (W)

US politics
Democrats have about a 70% chance of winning the House, Nate Silver’s FiveThirtyEight forecasts (C)
Trump, Seeking to Relax Rules on U.S. Cyberattacks, Reverses Obama Directive (W)
Trump wants federal suit against opioid manufacturers (C)
Trump’s military parade is estimated to cost $92 million – $80 million more than earlier estimate (C)

Geopolitics & trade
U.S., China Plan Trade Talks as Tariffs Dispute Takes Toll (W)
White House economic advisor Kudlow confirms trade talks to resume with China later this month (C)
Trump Says Tariffs Will Rescue U.S. Steel Industry (W)
Trump Says He Is in ‘No Rush’ to Renegotiate Nafta (W)
Mnuchin Says Turkey Faces More Sanctions If Pastor Not Released (B)

Industries & companies
Autos: Model 3’s Profitability May Be Fleeting, UBS Report Says (W)
Autos: After an inside look at Tesla’s Model 3 factory, one analyst says producing 8,000 cars a week is possible (C)
Pharma: FDA approves Teva’s generic EpiPen after yearslong delay (C)
Retail: Walmart’s best sales in a decade show US consumer may be strongest in years because of the tax cut, jobs growth (C)
Retail: Good Isn’t Good Enough at Macy’s (W)
Retail: J.C. Penney’s Embittered Analysts Fume About ‘Worthless’ Shares (B)
Tech: Tencent’s Rout This Year Has Wiped Out Over $175 Billion in Market Value (W)

Corporate finance
Musk’s take-private proposal for Tesla is a nightmare for potential advisors (C)

Offbeat
NYU will offer a full ride to all medical students (C)
Not enough people are paying attention to this economic trend (Gates)