wiar 12-15-18

Mary FanslauWhat I Am Reading

December 15 (Saturday)

Markets
Dow’s Sharp Decline Puts Three Major Indexes in Correction (W)
Stocks broke key level and could aim for the year’s low (C)
Stocks could struggle after record outflows, history shows (C)
Recession Signs Hard to Miss If Stock Message Is Taken Seriously (B)
The Stock Market Is the Most Divorced It’s Been From the Economy Since 2010 (B)
Leveraged Loans Are Looking ‘Scary’ to These Money Managers (B)

US
Slower Overseas Growth Fans Worries on U.S. Expansion (W)
Holiday Season Retail Sales Heat Up (W)
‘Historic’ Tax Refunds Will Extend Retail Boom Into 2019 (B)
Pay Rises in Tight Labor Market (W)
Trouble in Housing? It’s More 1994 Than 2007 (B)
Cold Weather Drove Industrial Production Growth in November (W)

US politics
Cohen Describes Trump’s Involvement in Hush-Money Payments (W)
Trump names Mick Mulvaney acting White House chief of staff, replacing John Kelly (C)
Nancy Pelosi put down a Democratic rebellion and battled Trump this week. Now comes the hard part (C)

Geopolitics & trade
Old U.S. Trade War With Japan Looms Over Fight With China (W)
China to Suspend Punitive Tariffs on U.S. Cars, Auto Parts (W)
Chinese Hackers Breach U.S. Navy Contractors (W)

Industries & companies
Autos: GM Says 2,700 Workers Slated for Layoffs Can Transfer (W)
Consumer: J&J loses $39.8 billion in market value after report claims J&J knew about asbestos in baby powder (C)
FAANGs: Amazon has explored getting into consumer health diagnostics — testing for disease at home (C)
FAANGs: Apple Heads to 7-Month Low as More Analysts Cut iPhone Estimates (B)
FAANGs: The parts in an iPhone came from all over the world — here’s a look at each iPhone’s complex journey (C)
FAANGs: Why Apple Chose Austin, Seattle and Culver City for Its Jobs Push (W)
FAANGs: Facebook Bug Potentially Exposed Millions of Users’ Unshared Photos (W)
Industrials: GE Powered the American Century—Then It Burned Out (W)

Corporate finance
Intel and TPG in talks to sell McAfee to Thoma Bravo for significantly more than $4.2 billion (C)
LVMH Seals $2.6 Billion Deal for Hotel Operator Belmond (W)
Tesla Sells $837 Million of Auto-Lease Bonds (W)
Companies Ramp Up Stock Buybacks as Market Swoon Continues (W)