What I Am Reading

February 11 (Monday) Markets Investors are buying stocks and bonds at the same time, which means something has to give (C) Stock Market Outlook: Wall Street Braves Political Risks As 2020 Election Looms (IBD) Trade Talks to Eclipse All as Emerging-Market Bulls Take a Hit (B) Central banks Fed’s Daly Unsurprised Economy Is Growing More Slowly (W) Fed Official Calls for Overhaul in Assessment of Financial-Sector Threats (W) US The Global Slowdown Could Soon Hit Home (BR) Here’s why the housing market, while still risky, won’t be all bad for buyers in 2019 (C) How Millennials Could Restore American Prosperity (BR) Forget taking out a student loan. Purdue University has come up with a new way to pay for college (C) Europe ECB’s Coeuré Says Euro-Zone ‘Risks Have Moved to the Downside’ (BR) China China’s Bullish Start to the Year Faces a Big Test After Holiday (B) China’s Demographic Danger Grows as Births Fall Far Below Forecast (W) US politics I ‘This is the fight of our lives,’ Elizabeth Warren says as she formally launches her 2020 presidential bid (C) Minnesota Democrat Amy Klobuchar declares bid for 2020 presidential nomination (C) Cory Booker Stumps in Iowa, Seeks Position as Obama’s Heir (W) US politics II Congress at an impasse as a new government shutdown looms (C) Tax code changes leave Americans asking, ‘What happened to my refund?’ (NBC) AOC and Elizabeth Warren want the rich to pay a lot more in taxes — history may be on their side (C) Washington Should Stop Bashing Billionaires (BR) What Really Ails American Capitalism (W) Geopolitics & trade The Internet, Divided Between the U.S. and China, Has Become a Battleground. (W) Mexico’s former president drops F-bomb in describing Trump’s approach to the world (C) Industries & companies Airlines: Boeing and Regulators Delay Jetliner Fixes Prompted by Lion Air Crash (W) Autos: Tesla Is Cranking Out Model 3s—Now It Has to Service Them (W) Autos: Thieves Hunt for Catalytic Converters (W) Consumer: Prepare to Pay More for Diapers, Clorox and Cat Litter (W) Corporate finance BB&T CEO Shows Power of Positive Thinking in $28.2 Billion Megadeal (W) BB&T and SunTrust: Buy the Deal but Don’t Fall for the Trend (BR) Technology It’s the Real World—With Google Maps Layered on Top (W) Offbeat The World Might Actually Run Out of People (Wired) Bezos’s Wild Days: Lurid Selfies, Blackmail, Amazon Drama in NYC (B) He’s studied thousands of threatening letters. Now he’s at the center of Bezos’s blackmail claims. (WP) For ‘Inflation Guy’ (and Shiller), Medical TIPS Are ‘Holy Grail’ (B)

February 09 (Saturday) Markets Stocks Poised for Worst Week Since December (W) Opinion: This market can’t go sideways for long, so get ready for a breakout or breakdown (MW) Three Big Banks Say It’s Time to Hedge Against Emerging-Market Risk (B) Does Jay Powell Have the Stock Market’s Back? (B) Central banks Fed’s Bullard Says No Need to Raise Rates Again (W) US Number of Work Stoppages Across the U.S. Jumped in 2018 (W) China High-Rollers Cool Bets as Chinese Economy Slows (W) US politics ‘Green New Deal’ Democrats Raise Climate Change as 2020 Issue (W) Geopolitics & trade Trade war headlines could get much worse before they get better as the US looks to Europe (C) Huawei Says U.K. Software Issues Will Take Years to Fix (W) Industries & companies Autos: One of Tesla’s largest investors just increased its stake (C) FAANGs: People are holding on to their iPhones for a lot longer, spelling trouble for Apple, says analyst (C) FAANGs: Amazon could be reconsidering its NYC headquarters site due to local opposition (C) FAANGs: ‘We need Amazon,’ Gov Cuomo says after report that it might cancel New York HQ2 plans (C) FAANGs: Amazon’s India Site Restocked After Joint-Venture Stake Cut (W) Financials: Regional banks are soaring. Here are two names you can still buy (C) Financials: Wells Fargo says it is working to fully restore systems as outage spills into day two (C) Manufacturing: Arconic Plans to Break Itself Apart (W) Pharma: Big Pharma’s Big Cancer Hope Is Fizzling (W) Retail: A tale of two toymakers: Mattel soars, Hasbro sinks, but there’s more to the story (C) Retail: Payless Prepares Second Bankruptcy With Store Closures (B) Wireless: Sprint Accuses AT&T of False Advertising of 5G Service (W) Offbeat Experiment With Guaranteed Income Creates Less Stress but No Jobs (W)

February 08 (Friday) Markets Dow drops more than 200 points as Trump won’t meet Xi before US-China trade deadline (C) U.S. Stocks Slide on Trade Tensions, Global Growth Fears (W) Tepid Earnings Forecasts Are Next Test for Bull Market (W) Most Stocks Are Up, and Yet Some Worry (W) Central banks Economists Give Jerome Powell a Grade of B-Minus on His Job Performance (W) US Steelmakers Find Strength to Expand Under Tariffs (W) Europe Eurozone Economic Forecasts Slashed (W) Brexit Deadlock Continues as EU Rebuffs Theresa May’s Demands (B) France recalls Italy ambassador after worst verbal onslaught ‘since the war’ (C) China Workers’ Activism Rises as China’s Economy Slows. Xi Aims to Rein Them In. (N) US politics Seven Fixes for American Capitalism (B) Alexandria Ocasio-Cortez just released her massive Green New Deal — here’s what’s in it (C) Trump Says He’s ‘Open’ to Changing SALT Cap; Grassley Disagrees (B) Trump Tax Law Spurs Job Creation…for Tax Lawyers and Accountants (W) Pelosi’s Take on Trump Was Written All Over Her Face (B) Beto O’Rourke Was Once Adrift in New York City. Now He’s Searching Again. (N) Asked to Stop Investigations, House Digs In (N) Geopolitics & trade Trump says he will not meet Chinese President Xi before March trade deal deadline (C) Kudlow: There’s ‘a pretty sizable difference’ before a China trade deal happens (C) Industries & companies Airlines: Airbus hit by jet cancellations as A380 shutdown looms (R) FAANGs: Amazon CEO Bezos Accuses Tabloid of Attempted Blackmail (W) FAANGs: Facebook Told to Stop Tracking German Users’ Online Life Without Consent (W) Tech: Twitter’s Push for Healthier Discourse Lifts Revenue, Hurts User Growth (W) Corporate finance BB&T to Buy SunTrust in Largest Bank Deal Since the Financial Crisis (W) Offbeat How to blur the background on Skype so people don’t see your messy office (C) What I Learned From the Hacker Who Spied on Me (W)

February 07 (Thursday) Markets Tech Rally Puts Nasdaq on Verge of Exiting Bear Market (W) Earnings forecasts are very negative but here’s why it’s not all bad (C) Domestic Investors Pick Up Foreign Creditors’ U.S. Debt (W) How the Fed’s Wait-and-see Stance Helps the Markets Central banks Janet Yellen: Possible next Fed move is a cut if global growth continues to slow (C) Former Fed Chief Yellen Says Rates Next Move Could Be Up or Down (B) Trump and Powell Had Productive Dinner Meeting, Mnuchin Says (W) US U.S. Trade Deficit Narrowed in November (W) U.S. Factory Worker Productivity Rises; Shutdown Limits Picture (W) Seniors are to blame for housing shortage, study finds (MW) US politics Trump’s Address Seemed Focused on Re-Election Bid (W) Expect Trump to make more ‘socialism’ jabs as he faces tough 2020 re-election fight (C) Abrams Targets Trump’s Immigration Policy in Democratic Response (W) Trump Preparing Plan to Boost AI, 5G Technology (W) Top Democrat Expects Border Deal, But Trump Remains the Wild Card (B) Trump Formally Picks Malpass as Nominee to Head World Bank (W) House Panel to Probe Any Foreign ‘Financial Leverage’ Over Trump (B) Geopolitics & trade U.S.’s Mnuchin to visit China next week for trade talks: CNBC interview (R) Industries & companies Autos: Tesla Cuts the Model 3 Price Again (W) Autos: GM Leans on U.S. Truck Buyers to Counter Weakness in China (W) Autos: GM says ‘we are already seeing savings from restructuring’ (C) FAANGs: Apple is once again the most valuable public company in the world (C) Financials: Banks weigh how to handle progressive Ocasio-Cortez (R) Media: 21st Century Fox Posts Higher Profit on Increased Revenue, Sale of Sky Stake (W) Restaurants: Chipotle’s Comeback Takes Hold as Chief Pushes Digital Sales (B) Corporate finance SoftBank Vision Fund, Pouring Billions Into Startups, Considers Raising More (W) Offbeat 2018 was Earth’s fourth-hottest year on record, NOAA and NASA report (C) A Crypto-Mystery: Is $140 Million Stuck or Missing? (W)

February 06 (Wednesday) Markets U.S. Stocks Close Higher on Upbeat Earnings Reports (W) Don’t Obsess Over the Earnings Season (W) If stock investors missed January’s surge, they’re out of luck, says Goldman Sachs (MW) Central banks Fed gives banks more stress test information, unveils 2019 scenarios (R) Fed to Include High Unemployment in 2019 Stress Test Scenario (W) US To Gauge the Health of the Economy, Look to Purchasing Managers (W) Expansion of U.S. Services Sector Slowed in January (W) U.S. Shutdown Robs Wednesday’s Productivity Report of Main Gauge (B) Weak demand for U.S. consumer loans fuels spending outlook worries (R) It’s not getting any easier to buy a house, and more Americans may just give up (MW) China For Chinese Startups, an Economic Slowdown Brings a ‘Freezing Winter’ (W) US politics Trump to ask Congress to act on aging infrastructure (R) Wall or Fence? These Are the Barriers at the Border Now (W) Beto O’Rourke Tells Oprah Winfrey He’s Considering White House Bid (W) Alexandria Ocasio-Cortez’s Green New Deal would reshape the economy in 10 years. That could shock the energy sector (C) Senate passes pro-Israel bill, measure also rebukes Trump (R) Geopolitics & trade U.S.’ Mnuchin, Lighthizer to hold talks next week in China: sources (R) Wall Street Veteran Says U.S.-China Deal Will Be Sell Trigger (B) U.S. lawmakers target China’s ZTE with sanctions bill (R) Russia to Build New Missiles After Breakdown of Nuclear Pact (W) Industries & companies FAANGs: Apple Says Retail Chief Angela Ahrendts Leaving in April (B) Finance: Here Are the Finance Firms Cutting Jobs After Turmoil in Markets (B) Media: Disney beats on earnings and revenue, reports streaming subscriber growth (C) Media: Disney says ESPN+ has 2 million paid subscribers, but streaming is still losing money (C) Media: Disney expects to take a $150 million hit as it cuts ties with Netflix — and that’s okay (C) Media: Disney Offers Fresh Details on Plans for Digital Future (W) Media: Electronic Arts stock heads toward largest drop in more than a decade after earnings miss (MW) Pharma: Drugmakers Blame Middlemen for Rising Drug Prices (W) Tech: Snapchat Parent’s Revenue Jumps, Loss Narrows (W) Corporate finance Wall Street defends buybacks from Sanders, Schumer attack: ‘Good companies buy back their shares’ (C) Offbeat ‘I Was Young’ Isn’t an Excuse: Business Leaders Need to Revisit Yearbooks (W)

February 05 (Tuesday) Markets Dow rises more than 150 points as tech shares jump ahead of Alphabet earnings (C) China Fears Loom Over Stocks After January Surge (W) The Sanders-Schumer proposal to limit buybacks could be a very big negative for the stock market (C) Credit, currencies, & commodities Dollar Trapped in Negative Feedback Loop as Foreigners May Flee (B) Stronger Yen May Be Coming, Another BOJ Official Warns (B) Why Wall Street’s Muni-Bond Desks Welcome the Tax-the-Rich Push (B) Sanctions on Venezuela’s Crude Hit Oil Market in Vulnerable Spot (W) Central banks Fed’s Kashkari Says Powell ‘Coming Around’ to Wait-and-See View (B) How Low Interest Rates Can Freeze the Economy (W) | Paper US U.S. factory orders fall; core capital goods unrevised (R) Loan demand falls among U.S. businesses, households: Fed banking survey (R) Small Businesses Are Waving the Caution Flag (W) Emerging This Is What You Need To Understand About India Ahead Of The Upcoming Election (B) US politics Bernie Sanders and Chuck Schumer’s plan to limit buybacks shows how Democrats see an opening to hammer Trump on tax cuts in 2020 (C) Sanders asks why drug, once free, now costs $375k (R) Trump says he will nominate Bernhardt for secretary of interior (R) Fannie-Freddie Overhaul Plan in Senate Falls Flat on Wall Street (B) Wealth Tax Fails The Test Around The World (IBD) Geopolitics & trade Trump Threatens to Bust Border Deal as Shutdown Deadline Nears (B) The Malaise in Global Trade Is Only Getting Worse (W) Foxconn Says It Will Move Forward With Wisconsin Plant After Conversation with Trump (W) Industries & companies Airlines: Boeing shares hit another record, bucking China slowdown concerns: ‘Things are just heating up’ (C) FAANGs: Alphabet fourth-quarter revenue, profit beat estimates (R) Tech: Behind Tech’s Shine, Some Warnings Signs Appear (N) Tech: Slack is setting itself up for the $3.5 trillion health care sector (C) Corporate finance Ultimate Software agrees to $11 billion buyout by investor group (R) Tesla to buy energy tech company Maxwell Technologies for about $218 million (C) Slack Files Confidentially to Go Public With Direct Listing (W) Offbeat Robots’ Lead Role in Super Bowl Ads Hint at Tech Anxieties (W) Bill Gross, Onetime Bond King, Retiring After Messy Last Act (W) This start-up buys your home, rents it back to you and lets you profit if the value grows (C) The ‘Winter Friday’ Off Is Now a Thing (N)

February 04 (Monday) YRI YRI Video Podcast. Recession: Waiting for Godot Daily Markets Overview Markets The Fed Fuels Stocks’ Dizzy Ride (BR) Dollar Vortex Puts Chill on Earnings That May Get Worse (B) Bond Rally Suggests Stock Rebound Could Reverse (W) How China Pressured MSCI to Add Its Market to Major Benchmark (W) Central banks Can the Fed Stave Off the Next Recession? (BR) Powell Marks One Year on the Job as Fed Turns Dovish (B) Rates Experts Work to Decode Enigma of Fed Balance-Sheet Pivot (B) US Opinion: The U.S. economy is fundamentally strong — for now (MW) JPMorgan Says 2020 ‘Might Not Be Year to Think About Recession’ (B) Weak Economic Growth? Blame the Polar Vortex (BR) US infrastructure is crumbling, and it needs lots of money to fix it: Civil engineer group (C) Over 60, and Crushed by Student Loan Debt (W) Millennials have been called the ‘brokest’ and the ‘richest’ generation, and experts say both of those are true (BI) China Can China Turn the Middle of Nowhere Into the Center of the World Economy? (N) Emerging Bullish on Brazilian Stocks? Be Cautious (BR) US politics Some Companies Realize Tax-Cut Gains Are Smaller Than Appeared (W) Why Elizabeth Warren’s Wealth Tax Would Work Two Huge Effects Of Trump’s Economic Policies: Jobs Surge In Both Manufacturing And Low Tax States (F) Geopolitics & trade Trump wants US military to stay in Iraq to ‘watch Iran’ (C) Industries & companies FAANGs: Morgan Stanley: Here’s how Apple could send its stock soaring by 27% this year (C) FAANGs: Jeff Bezos used to hate spending money on ads, but told employees in November he ‘changed his mind’ (C) FAANGs: Why Amazon Will Never Buy FedEx (BR)

February 02 (Saturday) Markets Dow Industrials Climb on Strong Earnings Reports From Exxon, Chevron (W) Focused on Powell, markets missed signs Fed would pause (R) Amazon jitters offset upbeat jobs data on Wall Street (R) Big Oil Companies Finished 2018 Strong Despite Plunge in Oil Prices (W) Central banks Bond Titan Says Betting That Fed Hikes Are Over Is ‘Very Misguided’ (B) Herman Cain Says He Would Be Honored to Be Considered for Fed Job (W) US U.S. corporate earnings trend stokes concern about 2019 outlook (R) U.S. Factory-Sector Growth Accelerated in January (W) Economy Notches 100th Straight Month of Increased Employment (W) Here’s where the jobs are — in one chart (C) Emerging markets Corporate China Faces Wave of Losses (W) India Beats Back Accusations It Cooked the Books to Boost Election Prospects (W) US Politics Trump: ‘There’s a good chance we’ll have to’ declare a national emergency to build the wall (C) Trump to Call on Democrats to ‘Heal,’ and Bashes Pelosi Over Wall (B) Under pressure to recalibrate, defiant Trump tackles big speech (R) Sen. Cory Booker of New Jersey Launches Presidential Campaign (W) Ex-Starbucks boss Howard Schultz’s presidential rollout got tons of attention — and didn’t go well at all (C) Geopolitics & trade ‘Good vibe’ U.S.-China trade talks followed by soybean purchase (R) Foxconn does damage control over Wisconsin factory (C) China Counts the Costs of Its Big Bet on Venezuela (W) Industries & companies Autos: GM’s involuntary layoffs start Monday, at least 4,000 workers expected to lose jobs (C) FAANGs: Products Yanked from Amazon in India to Comply With New E-Commerce Rules (W) FAANGS: Amazon sellers get caught in US-China trade spat as money transfer service abruptly closes (C) FAANGs: Apple Apologizes for FaceTime Bug, Sets Fix for Next Week (W) Retail: The CEO of the biggest mall owner in the US says he’s nervous about more retail bankruptcies this year (C) Corporate finance Spotify in Talks to Buy Gimlet Media (W) Scooter Startup Lime Is Raising $400 Million at $2 Billion Valuation (W) Offbeat 1MDB Scandal Could Hit Pay for Goldman Execs, Including Lloyd Blankfein (W) Major DNA Testing Company Sharing Genetic Data With FBI (B) Patriots will win the Super Bowl according to Alexa and Cortana, but Google is pulling for the Rams (C)

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)

January 31 (Thursday) Markets Dow surges more than 400 points to above 25,000 after Fed signals patience with rate hikes (C) Big Thumbs-Up From Wall Street After Fed Signals Patience on Rates (N) Treasury to Scale Back Borrowing Plans in Early 2019 (W) Central banks Fed Signals Hold on Rate Increases (W) The Fed’s Mysterious Pause (W) Jerome Powell says the Fed did not change course on interest rates in response to Trump (C) Emerging Venezuela Marks the First Step in U.S. Plan to Reshape Latin America (W) US politics Warren Faults ‘Capitalism Without Rules’ in Pushing Wealth Tax (B) Geopolitics & trade Trade Talks With China Open in Washington, as Obstacles Abound (N) What Can the U.S. Sell China? Services (W) Foxconn Backpedals on Wisconsin Factory, Shifts Focus to Research (W) Industries & companies Autos: Tesla shares fall after company posts fourth-quarter profit that misses expectations, replaces CFO (C) Autos: Tesla says it has enough cash to ‘comfortably settle’ its $920 million bond payment due March 1 (C) FAANGs: Facebook soars after it crushes earnings, posts record profit (C) FAANGs: Apple’s China Problem May Require a New iPhone (W) FAANGs: Apple Is Planning 3-D Cameras for New iPhones in AR Push (B) FAANGs: New York Opens Investigation Into Apple FaceTime Bug (W) Industrials: GE Faces a Capital Dilemma Over Its Jet-Leasing Business (W) Tech: Microsoft slips on revenue miss (C) Tech: Microsoft’s Gains Tempered by Chip Shortages (W) Tech: Qualcomm Expects Another Drop in Revenue (W) Offbeat Temperatures Plunge to Lowest Levels in Decades in Midwest (W)