wiar 02-27-19

Mary FanslauWhat I Am Reading

February 27 (Wednesday)

Markets
Stocks close down slightly for the day after Home Depot missed on earnings, and housing data was bad (C)
The Risk Rally Hasn’t Been This Reliant on the Fed Since 2012 (B)
Pound Rally Breaks Investors’ Brexit Boredom (W)

US
Home-Price Growth at Slowest Pace in Four Years (W)
SALT Cap Will Leave Nearly 10.9 Million People Feeling Tax Pain (B)
Tell the Goldilocks economy there ain’t no bears out tonight

China
Earliest Gauges Show China’s Economy Seeing First Signs of Pickup (B)

Central banks
Powell Affirms Patient Approach to Interest-Rate Changes (W)
Powell Says Fed Is in No Rush to Make Judgment on Policy Changes (B)
Powell Tells Senators Fed Is Finding More Labor Market Slack (B)
BOJ May Resort to More QE If Yen Jumps, Ex-Board Member Says (B)

US politics
House Set to Pass Measure Blocking Trump’s National Emergency on Wall (W)
Cohen to Testify That Trump Engaged in Criminal Conduct While in Office (W)
CBO Says U.S. Will Run Out of Cash by Early Fall Without Debt Limit Increase (B)
How Does ‘Boss’ AOC Plan To Pay For Her $93 Trillion Green New Deal? (IBD)
Powell says economic theory of unlimited borrowing supported by Ocasio-Cortez is just ‘wrong’ (C)
Jerome Powell Says the Concept of MMT Is ‘Just Wrong’ (B)

Geopolitics & trade
Kim Jong Un Enters Second Nuclear Summit as More Seasoned Negotiator (W)
U.S. Takes Huawei Fight Directly to Telecom Industry (W)

Industries & companies
Autos: Fiat Chrysler to Invest $4.5 Billion in Michigan (W)
Consumer: WW, formerly Weight Watchers, craters 28 percent after posting disappointing 4Q results and weak full-year forecast (C)
Consumer: Weight Watchers Plummets on Profit Forecast at 50% of Estimates (B)
Consumer: Supermarkets Sour on Kraft Heinz (W)
FAANGs: Apple, Facebook Fight Global Encryption Battle (W)
Pharma: CEOs From Pfizer, Merck and Others Face Senate Over Drug Pricing (W)
Retail: Macy’s said these are the five areas where it plans to invest in 2019 (C)
Retail: Home Depot Blames Wet Weather for Soggy Sales (W)

Corporate finance
AT&T-Time Warner Deal Upheld, Dealing Blow to Justice Dept. (W)
Blank-Check Companies, a Hot IPO Fad, Contain Pitfalls for Investors (W)

Offbeat
As California Loses People, a Las Vegas Suburb Grows (W)