wiar 08-29-18

Mary FanslauWhat I Am Reading

August 29 (Wednesday)

Markets
S&P 500 closes at record, briefly hits 2,900 for the first time as trade fears ease (C)
At a new record high, the stock market has reached its ‘now what’ moment (C)
Highflying Chip Stocks Have Their Mojo Back (W)
Strip Out Trump Tax Cut and S&P 500 Profits Are Still Surging (B)
The Record $35 Billion Selloff Pulling Down Japan’s Stock Market (B)

Credit
The Treasury Yield Curve Is Finally Going Mainstream (B)
Mnuchin Isn’t Worried About the Yield Curve (B)

Central banks
Goldman Sachs thinks the market is wrong about Fed Chair Powell, and that could mean 4 rate hikes in 2019 (C)

US
U.S. Consumer Confidence Surged in August to Near 18-Year High (W)
Is U.S. Consumer Confidence Up or Down? Probably a Bit of Both (B)
U.S. Trade Deficit in Goods Widened to $72.2 Billion in July (W)
U.S. Home-Price Gains Slow (W)
American Companies Are Raising Prices at a Brisk Pace (B)

Emerging
As Turkey Teeters, Germany Considers Offering a Lifeline (W)

US politics
Trump Accuses Google of Suppressing Positive News About Him (W)
Trump: Facebook, Twitter, Google are ‘treading on very, very troubled territory’ (C)
Mueller’s team kept asking witnesses about Cohen’s Trump campaign involvement, even after FBI raid (C)

Geopolitics & trade
U.S., Canada Set for Nafta Talks Amid White House Threat (W)
Trump’s New Nafta May Leave His Job and Deficit Pledges Unfulfilled (B)
Mexico Says U.S. Trade Deal Will Send a ‘Signal’ on Currency Manipulation (B)

Industries & companies
FANGs: Yahoo, Bucking Industry, Scans Emails for Data to Sell Advertisers (W)
Retail: Tiffany Sells More Blue Boxes as Affluent Buyers Splurge (W)
Retail: Under ‘Amazon effect’ retailers could be more exposed to supply shocks (C)

Corporate finance
Yum China shares rise as much as 12 percent after report that it rejected buyout offer (C)

Offbeat
CFA Says Level III Pass Rate Rises to Highest Level Since 2006 (B)
New on Parents’ To-Do List: Checking Children’s Credit History (W)