wiar 12-21-18

Mary FanslauWhat I Am Reading

December 21 (Friday)

Markets
Dow drops 470 points to 14-month low in second day of big losses following Fed rate hike (C)
As fear rises on Wall Street, strategists warn the worst is yet to come (C)
How a looming government shutdown could affect federal services — and stocks (MW)
Asia stocks shunned as investors flee for safety (R)
Bulk Up on Cash as 2019 Look Volatile, Pimco Says (B)
Why the Yen Hasn’t Been a Safe Bet (W)

Central banks
Powell’s Bet: The Data Is Right, the Market Is Wrong (W)
Treasury Secretary Says Market Has Overreacted to Fed (W)
Cramer feels ‘powerless’ after Fed hike, tells investors to buy gold (C)

US
A Booming Job Market Can’t Fill the Retirement Shortfall (W)

Europe
There’s Room for Optimism on the Euro Economy After a Tough 2018 (B)

US politics
House passes spending bill with border wall money — setting up shutdown stalemate with Senate (C)
Mattis to Depart Over Order to Pull Out of Syria (W)
Defense Secretary James Mattis is quitting because he doesn’t agree with Trump (C)
Read James Mattis’ resignation letter to Trump: ‘We must be resolute’ against Russia and China (C)

Geopolitics & trade
Exclusive: China hacked HPE, IBM and then attacked clients – sources (R)
U.S., allies slam China for economic espionage, spies indicted (R)
Some Global Banks Break Ties With Huawei Technologies (W)

Industries & companies
FAANGs: Apple Infringed on Qualcomm Patent, German Court Rules (W)
Financials: Major Banks Suspected of Collusion in Bond-Rigging Probe (W)
Retail: Nike crushes earnings expectations, helped by strong online sales, shares surge (C)
Retail: Nike still ‘bullish’ on China despite uncertainty about US tariffs (C)

Corporate finance
SoftBank’s Biggest Backers Balk at Planned $16 Billion Acquisition of WeWork (W)
Juul employees get a special $2 billion bonus from tobacco giant Altria — to be split among its 1,500 employees (C)

Offbeat
‘Deliberate’ drone flights shut down London Gatwick airport, stranding thousands of travelers (C)