wiar 11-29-18

Mary FanslauWhat I Am Reading

November 29 (Thursday)

Markets
Dow surges 600 points after Fed Chair Powell signals rates are near neutral (C)
Why the Bull Market Is More Fragile Than It Looks (B)
Did Powell Just Put a Floor Under Stocks? Wall Street Weighs In (B)
Fed warns that a ‘particularly large’ plunge in market prices is possible if risks materialize (C)

Central banks
Fed Chairman Powell now sees current interest rate level ‘just below’ neutral (C)
After Powell comments, traders see just one rate hike next year (C)
Here’s the full text from Fed Chief Jerome Powell’s market-moving speech (C)

US
U.S. GDP Growth Unrevised at 3.5% in Third Quarter (W)
New-Home Sales Fell 8.9% in October (W)

Emerging
Kim Jong Un’s Extreme Makeover Plays Well, for Now (W)

US politics
Mnuchin Asked About Fed Option That Could Avoid Rate Hikes (B)
Pelosi claims Democrats’ nomination to be House speaker (R)

Geopolitics & trade
‘Bring Me Tariffs’—How Trump and Xi Drove Their Countries to the Brink of a Trade War (W)
The U.S. is botching trade deals and territorial disputes in China: former ambassador Christopher Hill (MW)
U.S. Brands Squeeze Chinese Suppliers as Tariffs Start to Bite (W)
Trump Raises Prospect of Import Car Tariff After GM Cutback Plan (B)

Industries & companies
Autos: Here’s the buyout GM offered before announcing 14,000 job cuts (C)
FAANGs: Google’s cheap and super-simple cellphone service will now work with iPhones (C)
FAANGs: Amazon will be off all Oracle databases by end of 2019, says AWS chief (C)
Financials: The Fed Is Still Banks’ Best Friend (W)
Industrials: The $15 Billion Money Pit Dragging GE Down (B)
Retail: Tiffany Shares Fall as Sales Slow (W)
Tech: Why Microsoft is a better bet than Apple (NN)

Corporate finance
Altria in Talks to Take Significant Minority Stake in Juul Labs (W)
CVS Completes $70 Billion Acquisition of Aetna (W)