wiar 02-01-19

Mary FanslauWhat I Am Reading

February 01 (Friday)

Markets
Resilient U.S. Economy Fuels January Stock-Market Recovery (W)
Thank the Fed for a Retro January Surge (W)
Warning: Stocks have only been stretched this thin once in the past 150 years (MW)

Central banks
The Fed finally gets it – all that matters is the S&P 500 (MoneyWeek)
The Fed is on hold for now, but some in the market are still bracing for more hikes (C)
Transcript of Chairman Powell’s Press Conference January 30, 2019 (FRB)
Fed Statement Tracker (W)
Trump considering former presidential candidate Herman Cain for the Fed (C)
Summary of Opinions at the Monetary Policy Meeting on January 22 and 23, 2019 (BOJ)

US
U.S. Employment Costs Rose 0.7% in the Fourth Quarter (W)

Europe
EU Ready to Push U.K. Near Point of No-Return on Brexit, Diplomats Say (B)
Eight Banks Targeted in EU Cartel Probe of Euro-Bond Trading (B)

US politics
Trump Willing to Move Without Congress on Border Wall (W)
Trump Says Border Plan a ‘Waste of Time’ If It Lacks Wall Money (B)
Congress Just Can’t Quit Government Shutdowns (W)
Bernie Sanders proposes a big hike in the estate tax, including a 77% rate for over $1 billion (C)

Geopolitics & trade
Trump Says ‘Good Chance’ U.S. Reaches Trade Deal With China (N)
Trump wants ‘very big’ U.S.-China trade deal, hints at delays (R)
China Slowdown Hits Growth Globally (W)
China’s Slowdown Leads to a Diaper Depression (B)

Industries & companies
Autos: Tesla turns another profit, ramps up production as competitors flood market with electric vehicles. (C)
Chemicals: DowDuPont Kills the Rally in Chemical Stocks But Sherwin-Williams Fights On (B)
FAANGs: Amazon first-quarter sales forecast misses estimates, shares down (R)
FAANGs: Amazon earnings beat: $6.04 per share, vs. $5.68 expected (C)
FAANGs: Amazon holiday sales were better than expected, produce $3 billion in profit (MW)
Industrials: GE Cites Progress Toward Turnaround After Tough Year (W)
Tech: Microsoft’s Gains Tempered by Chip Shortages (W)
Utilities: PG&E Filed for Bankruptcy. Why Did Its Shares Then Rise? (W)

Corporate finance
Deutsche Bank Sees Merger by Mid-Year If All Else Fails (B)

Technology & cybersecurity
White-Collar Robots Are Coming for Jobs (W)
Facebook removes nearly 800 fake pages and accounts traced to Iran (C)

Offbeat
Polar Vortex Strains Systems; GM Shuts Plants (W)