wiar 12-20-18

Mary FanslauWhat I Am Reading

December 20 (Thursday)

Here’s what spooked the market about the Fed today (C)
Cramer: Dow could have ‘easily’ been down 1,000 points on Fed hike (C)
Most of the S&P 500 is already in a bear market (C)
Major Investors in Leveraged Loans Are Unloading Big Chunks (B)

Central banks
Fed hikes rate, lowers 2019 projection to 2 increases (C)
Powell says he doesn’t see Fed changing its strategy for shrinking the balance sheet (C)
Jerome Powell Tries a Nuanced Fed Policy. Markets Don’t Like It. (N)
PBOC Ratchets Up Monetary Support With `Low-Profile’ Rate Cut (B)

U.S. Population Grew at Slowest Pace in 81 Years (W)
‘I Thought I Was Done For’: Tight Job Market Opens Doors for Ex-Convicts (W)
The Loneliest Job in a Tight Labor Market (W)

China M&A Loans Slump for Second Year (B)

US politics
Senate Nears Vote on Averting Shutdown as Trump Fumes About Wall (B)
President Trump is telling allies he wants Vice President Mike Pence to stay on the ticket in 2020 (C)
Trump Directs Pentagon to Set Up a Space Command (W)

Trump Orders Full Syria Pullout in Abrupt Policy Shift (B)

Industries & companies
FAANGs: Facebook plummets following burst of bad news (C)
Logistics: As FedEx shares tank, CEO blames ‘bad political choices’ for company’s woes (C)
Retail: Here’s why the ‘retail apocalypse’ won’t happen (C)

Corporate finance
Marlboro Maker Nears Deal That Values Juul at $38 Billion (W)
SoftBank’s Biggest Backers Balk at Planned $16 Billion Acquisition of WeWork (W)
Pfizer, Glaxo to Create Over-the-Counter Drug Giant (W)
Pinterest Prepares for Early 2019 IPO (W)
Sears Bankruptcy Battle Tests Credit Default Swaps Market (W)

Inside Musk’s Tunnel to Fix ‘Soul-Destroying’ Traffic (W)
Room for Improvement? New Hotelier Tests an Algorithmic Pricing System (W)