wiar 08-25-18

Mary FanslauWhat I Am Reading

August 25 (Saturday)

Markets
Stocks Push Higher as Powell Defends Fed’s Rate Path (W)
Final dog days of summer could be a good time for stocks (C)
Rising Metals Prices Show Little Sign of Substantially Boosting U.S. Output (W)

Central banks I
Fed’s Powell Defends Pace of Rate Hikes to Avert Overheating (W)
Powell Doctrine Emerges as Fed Chief Debuts at Jackson Hole (B)
Fed’s Mester Says Gradual Rate Increases Still Best Path (W)
Fed Signals Unease About Drop in Unemployment (W)

Central Banks II
As big firms get bigger, rate cuts may pack less punch: study (R)
BOE Economist Warns of Giant Firms’ Effects on Inflation, Growth (W)
How ‘Intangible Capital’ Explains Rising Corporate Concentration, Weak Investment (W)

Central Banks III
China Central Bank Reintroduces Measure to Bolster the Yuan (W)
PBOC Joins Forces With Powell to Hit the Brakes on Dollar Rally (B)
The Complex Calculations Behind Angela Merkel’s ECB Strategy (B)

US
U.S. Durable-Goods Orders Fell 1.7% in July (W)

US politics
Taxpayers scramble as proposed IRS rule on local taxes wrecks workaround strategy (C)

Geopolitics
Trump Cancels Pompeo’s North Korea Trip Over Lack of Progress (W)

Industries & companies
Autos: How Two Musk Decisions in 2016 Put Tesla Into Trouble (W)
Defense: Defense Companies Run Space Race (W)
FANGs: Waymo, Alphabet’s Self-Driving Unit, Steers Into China (W)
FANGs: Tech Giants Target Accounts Linked to Iran (W)
Tech: Microsoft Hit With U.S. Bribery Probe Over Deals in Hungary (W)

Corporate finance
Elon Musk hiring Morgan Stanley probably closes the book on ‘funding secured’ (C)
Shareholders Approve Cigna-Express Scripts Deal (W)