What I Am Reading

November 17 (Saturday) Markets Trump’s trade war with China could disrupt the traditional Thanksgiving rally (C) In Leaderless Stock Market, Gains Are Proving Hard to Maintain (B) S&P chart pattern points to breakout ahead, technician says (C) Morgan Stanley Warns BBB Bond Bust Would Hit Jobs and Growth (B) Don’t Take Your Eyes Off the Yield Curve (B) Central banks Treasury yields fall after Fed vice chairman says central bank is getting closer to neutral rate (C) Fed’s Evans sees possibility of up to four interest-rate hikes in 2019 (MW) US U.S. Industrial Production Rises (W) U.S. Household Debt Continues to Climb in 3rd Quarter (W) ‘I Was Hoping to Be Retired’: The Cost of Supporting Parents and Adult Children (W) Meet the post-millennials — you’ve never seen such a group (MW) US politics Republican Brian Kemp is the apparent winner in Georgia governor’s race, defeating Stacey Abrams (C) Geopolitics & trade Trump Upbeat About Trade Deal After Receiving China Response (B) CIA reportedly determines Saudi crown prince ordered the killing of Jamal Khashoggi (C) Industries & companies Defense: Lockheed Martin starts production of its experimental supersonic plane (C) Industrials: GE was once America’s most valuable company. Today it is fighting junk-bond status. (C) Pharma: Pfizer to Raise Prices on 41 Drugs (W) Tech: Google’s Cloud-Computing Boss Steps Down (W) Corporate finance Cancer drug company Tesaro shares rise 39% following report that it will explore sale (C) PG&E Shares Surge on Hopes of State Support (W) Bernie Sanders rolls out ‘Stop WALMART Act’ that would block stock buybacks until retailer raises pay (MW) Offbeat California hopes to get the jump on fires by expanding its high-tech early warning camera system (C) Facing Deadlier Fires, California Tries Something New: More Logging (W)

November 16 (Friday) Markets S&P 500 snaps 5-day losing streak as shares of Apple, JP Morgan gain (C) ‘Duped,’ ‘tricked’ and ‘snookered’: Oil analysts say Trump fooled Saudis into tanking crude prices (C) Central banks Fed plans review of how it pursues inflation, employment goals (R) | Statement Elizabeth Warren says the Fed is making the same mistakes as before the crisis: ‘Deeply worrisome’ (C) US U.S. retail sales rebound, but consumer spending slowing (R) Imports Surge at U.S. Ports as Companies Brace for New Tariffs (W) Millions of U.S. Gig Workers May Be Misclassified as Jobless (B) US politics Trump Tax Cut to Be Eroded by Inflation Switch (W) Geopolitics & trade USTR Lighthizer denies he said China tariffs on hold (R) China offer unlikely to spur major trade war breakthrough, senior US official says (C) Automaker groups warn U.S. tariffs will undermine new NAFTA deal (R) Who Are the U.S.’s Largest Trade Partners? (FRB-SL) Industries & companies Autos: Tesla to deliver new Model 3 orders by year end (R) FANGs: Apple enters multiyear agreement with Oscar-winning production company to make original movies (C) FANGs: Jeff Bezos to employees: ‘One day, Amazon will fail’ but our job is to delay it as long as possible (C) Retail: Nordstrom plunges after earnings miss (C) Tech: A tech turnaround may hinge on this beaten-up group of stocks — and it’s not FANG (C) Tech: Nvidia jumps into its earnings report — here’s how to trade the chips now (C) Retail: Walmart Posts Strong Sales Gains Ahead of Holidays (W) Corporate finance Market Punishes PG&E on Speculation About Downgrade and Default (B) Technology The Long Road Ahead for Autonomous Vehicles (W) Offbeat Pentagon fails its first-ever audit: official (R)

November 15 (Thursday) Markets U.S. Stocks Lose Gains Amid Growth Worries, Tech Declines (W) Citigroup Says Pain in Small-Cap Stocks Is Just Getting Started (B) Natural-gas prices just booked the largest daily percentage gain in 14 years, up 18% (MW) Emerging Markets Coming Back in Favor (W) Global Economic Slowdown Deepens (W) Central banks Powell credits Fed policy for the US economy being ‘in a good place’ (C) Powell says he’s optimistic about economy as he notes concerns from abroad (MW) Powell Sees Potential Headwinds to Growth as Fed Weighs Policy (B) Fed’s Powell says press conference at every meeting means all sessions are ‘live’ (R) US Inflation Jumps, but Is Likely to Slow (W) Is Social Security ballooning the federal deficit? (USA) Geopolitics & trade Exclusive: China sends written response to U.S. trade reform demands – U.S. government sources (R) White House curtails Trump trade advisor Navarro’s public role as Kudlow rips him for China comments (C) Cisco CEO ‘optimistic that we’ll get some resolution’ on US-China trade dispute (C) Europe ready to retaliate if U.S. imposes auto tariffs: EU trade chief (R) Global Companies in U.S. See Auto Tariffs as Biggest Threat: Survey (W) China appears to relax North Korea sanctions: report to U.S. Congress (R) Industries & companies FANGs: Morale at Facebook is reportedly in the dumps (C) FANGs: Social-Media Must Confront Downsides of Scale, Instagram Co-Founder Says (W) FANGs: Another Apple Supplier Just Cut Its Forecast (B) Financials: Berkshire Hathaway reveals stake in JP Morgan as Warren Buffett raises bet on the US banking system (C) Retail: Macy’s Reports Strong Sales Growth, Raises Guidance (W) Corporate finance Uber Posts Slower Sales Gains, Widening Loss Ahead of 2019 IPO (W) Dell Sweetens Key Deal Terms in Path Back to Public Markets (W) Any PG&E Bankruptcy Would Pit Bonds Against Burnt Out Homes (B) Offbeat Michael Avenatti arrested in Los Angeles on suspicion of domestic violence (R)

November 14 (Wednesday) YRI Yardeni Named in LinkedIn Top Voices 2018: Economy & Finance Daily Markets Overview Markets Dow falls in wild session as Wall Street fails to recover from sharp losses (C) Stock market charts point to more trouble ahead: Small-cap stocks close to ‘death cross’ (C) If Trump and Democrats get serious about an infrastructure bill, these stocks should benefit (C) Alarm Bells Ring in Markets as Nomura and Goldman Worry About Growth (B) Commodities & credit Oil markets struggle to find footing after 7 percent slump (R) 5 reasons oil prices are in a history-setting tailspin (MW) Europe Is Ground Zero for Global Credit Fears (B) Curve Inversion May Lead U.S. Banks to Tighten Lending Standards (B) US Better Family Policies Could Draw Millions of Workers Into Labor Force (W) Japan Japan econmin Motegi says economy recovering moderately (R) US politics White House economic advisors clash: Kudlow says Navarro’s China comments are ‘way off base’ (C) Trump Weighs Replacing Kelly in White House Shake-Up (W) A week later it’s clear the midterms did produce a blue wave (C) Geopolitics & trade China Trade Deal or New Cold War? (W) EU’s Malmstrom assumes U.S. won’t slap autos tariffs during talks (R) Industries & companies FANGs: Amazon confirms Long Island City, N.Y., and Arlington County, Va., as its ‘HQ2’ selections; Nashville facility announced (MW) FANGs: Amazon Is a Long Way From Settling Down in Chosen NYC Home (B) FANGs: Amazon, Google Poised for Race to Hire High-Tech Talent (W) Financials: Goldman’s Stock Decline Has Wall Street Wondering When It Ends (B) Financials: UBS Says Markets Poised for a Positive 2019, But Risks Abound (B) Retail: Starbucks to cut 5% of its corporate workforce (C) Technology Chinese tech giant Huawei plans to introduce ‘augmented reality’ glasses in next one or two years (C) Smarter Cameras Are Poised to Transform Everyday Life (W)

November 13 (Tuesday) Markets Dow plunges 600 points as Apple leads tech rout (C) The reasons to be bearish on the stock market now are swamping the bull case (C) Don’t blame Monday’s market rout entirely on Apple. Global growth and the Fed are issues (C) Goldman’s ‘bear market risk indicator’ signals returns will be zero the next 12 months (C) There’s something behind this market sell-off that no one is talking about: The strong dollar (C) Commodities Trump warns OPEC against cutting oil production: ‘Prices should be much lower based on supply’ (C) Oil Market Reliance on U.S. Shale Potential Is Risky, IEA Says (B) Gas to overtake coal as world’s second largest energy source by 2030: IEA (R) China Is Expected to Become World’s Biggest Natural Gas Buyer by 2040 (B) US The Truth About Poverty In America (IBD) China China’s Government Has More Room to Leverage Up as Growth Slows (B) Trade war and censors blow chill wind through China’s giant tech scene (R) US politics Democrat Sinema Wins Arizona U.S. Senate Seat Long Held by GOP (B) Russian Hackers Largely Skipped the Midterms, and No One Knows Why (W) Geopolitics & trade Mnuchin and top Chinese official are reportedly talking trade ahead of Trump-Xi meeting (C) White House to consider Commerce Department auto tariff recommendations: officials (C) Tariffs are having a negative impact for only about 9 percent of companies, earnings calls show (C) Industries & companies FANGs: Apple Shares Sink After iPhone Suppliers Lower Outlooks (W) Financials: Goldman Sachs Tumbles on 1MDB Scandal and ‘Fear of the Unknown’ (B) Industrials: GE Shares Fall Again, Hit New Low (W) Retail: Macy’s Radical Plan to Save Itself: Shrink (W) Corporate finance Palantir Has a $20 Billion Valuation and a Bigger Problem: It Keeps Losing Money (W) SoftBank Targets $20 Billion IPO for Japanese Mobile Unit (W) Technology Robots Are Coming for Europe’s Jobs (B) Offbeat Steve Ballmer Needed a 10-K for the U.S. So He Made One. (W) Photos show California’s devastating wildfires raging in Malibu and Butte County (C)

November 12 (Monday) Markets This bull market may be just two weeks old (MW) Stock-market investors wrestle with a glut of bearish signs as oil prices plunge (MW) Things Could Get Worse for Corporate Bond Funds Before They Get Better (BR) Saudi Arabia to ship less oil in December as it considers a coordinated output cut (C) Central banks Sessions’s ouster suggests Trump’s Fed fight is about to get uglier (WP) US As Tariffs Hit, Supply Chains Become a Hot Topic for Investors (BR) China Forget the trade war, China’s economy has other big problems (NN) A Fifth of China’s Homes Are Empty. That’s 50 Million Apartments (B) China’s trade expo logs nearly $58 billion of deals: state media (C) What slowdown in China? Alibaba’s results reveal a record for opening minutes of Singles’ Day (MW) US politics U.S. on a Course to Spend More on Debt Than Defense (W) Florida election recount underway, tensions rise (C) Democrats to investigate whether Trump administration sought to punish AT&T, Amazon (C) Impeaching Trump an Option Top Democrats Don’t Want to Touch (B) Infrastructure, Impeachment Are Washington’s Hottest Topics, Says Pimco’s Cantrill (BR) Geopolitics & trade Trump, Macron agree on European defense after Trump’s ‘very insulting’ comment (C) Macron: ‘Nationalism Is a Betrayal of Patriotism’ (B) Calls for open trade to greet Pence as Trump skips Asia summit (C) Industries & companies Consumer: P&G, McDonald’s Power Dow Rebound as Investors Play Defense (W) FANGs: Apple says some iPhone X and MacBook models have quality issues (C) Media: At Netflix, Who Wins When It’s Hollywood vs. the Algorithm? (W) Media: ‘Grinch’ Brings Holiday Cheer With Decisive Box-Office Victory (B) Retail: With Retail Earnings on Tap, Investors Expect a Tale of Two Worlds (W) Offbeat Death toll climbs to 23 in California’s deadliest fire since 1991 (C) Trump again threatens to take away federal funding for California wildfires over ‘gross mismanagement’ (MW) Why “Qualified Opportunity Zones” May Be the Next Hot Thing in Investing (BR)

November 10 (Saturday) Markets Dow drops 200 points on worries about slowing global economic growth (C) Trying to Salvage a Ruined Year in Stocks With Seven Weeks to Go (B) Struggling commodity prices signal more trouble could be ahead for the stock market (C) Goldman Sachs Sees S&P 500 Profit Growth Slowing to 4% in 2020 (B) US crude oil posts longest losing streak in over 34 years, falling for 10th day (C) The Dollar Is a Haven in Sea of Uncertainty (B) Central banks China’s Central Bank Ready to Tackle ‘Profound’ Economic Changes (B) US U.S. Producer Prices Surged in October (W) Consumers Poised to Pick Up Spending Heading Into Holiday Season (W) Tax-Cut Split: Consumers Are Spending but Businesses Are Cautious (W) China Is China’s massive bear market a buying opportunity? (MoneyWeek) US politics Trump jumps into tight Senate races wielding conspiracy theories (C) Former Starbucks CEO Howard Schultz assembles an elite PR team as he considers running for president (C) Trump is telling people he wants to replace Commerce Secretary Wilbur Ross by the end of the year (C) Geopolitics & trade White House trade advisor Navarro says China trade deal will be on Trump’s terms, not Wall Street’s (C) Top U.S., China Officials Discuss Trade, North Korea, South China Sea (W) Industries & companies FANGs: More Apple products are coming to Amazon under a new deal (C) Financials: Almost Half of Big U.S. Banks Are Failing to Satisfy Fed Supervisors (B) Homebuilders: Homebuilders are facing a make-or-break level, according to charts (C) Pot: Pot companies set to reveal earnings less than a month after Canadian legalization (MW) Retail: Investors focus on retailers as wages rise (R) Technology Robot Design Goes Back to Nature (W) Offbeat Like Alexandria Ocasio-Cortez, many Americans can’t afford an apartment when they move for work (MW)

November 09 (Friday) Markets Quants Are Facing a Crisis of Confidence (B) Checking China’s Market Pulse After State Stabilizes Stocks (B) The oil rout just became a bear market for U.S. crude (MW) Buy ‘Cheap’ Yen Before Its Big Awakening in 2019, SocGen Says (B) Wall Street Muni-Bond Bankers Need Work. Voters Gave Them Plenty (B) US Fed leaves rates unchanged, says U.S. economy strong (R) Parsing the Fed: How the November Statement Changed From September (W) Howard Gold: The housing slump is not (yet) a recession (MW) Europe Eurozone Economy Seen Cooling as Risks Mount (W) Europe’s Center-Right Parties Face Threats on Continental Stage (W) US politics Justice Ruth Bader Ginsburg Is Hospitalized After Fall (W) Unclaimed Senate, House Seats as Counting Continues (W) Geopolitics & trade Trump’s Tariffs Have Fully Kicked In—Yet China Exports Grow (W) Industries & companies Autos: Meet Tesla’s New Chairman, Who Has to Oversee Elon Musk (W) Consumer: P&G to restructure company as maker of Gillette razors simplifies business units (C) Media: Disney gains after reporting that studio revenue grew 50% year over year (C) Media: Disney’s new Netflix rival will be called Disney+ and launch late 2019 (C) Media: Disney’s Iger Plots Online Future With a Little ‘Star Wars’ Help (B) Retail: Sears is closing another 40 stores. Here’s a map of where they are (C) Tech: Alibaba aims to make cloud computing its ‘main business’ (C) Technology Get Ready for 3-D Printed Yachts (W) Here Comes ‘Smart Dust,’ the Tiny Computers That Pull Power From the Air (W) Offbeat FDA plans to restrict flavored e-cigarette sales, ban menthol cigarettes from market (C)

November 08 (Thursday) Markets S&P 500 and Dow surge in best rally after midterm elections since 1982 (C) Stock Markets Are Too Happy With the Election Outcome (W) U.S. Oil Falls for 8th Day in a Row as Supplies Surge (W) Bond Traders Are ‘Back to a Flattening Curve’ With Focus on Fed (B) Central banks Fed likely on steady course even as U.S. political landscape shifts (R) Cramer: With midterms over, we could get ‘the rallies of all rallies’ if the Fed pauses rate hikes (C) US Job Openings Outnumbered the Unemployed by More Than One Million (W) U.S. Consumer Credit Rose by Less Than Estimated in September (B) Europe France’s Macron Calls for Creating a ‘European Army’ (W) Japan Japan Leaves No Stone Unturned as It Prepares for Sales-Tax Blow (B) China China Has More Distressed Corporate Debt Than All of EM Combined (B) Emerging Only Locals Are Buying Into Brazil’s Record-Breaking Rally (B) US politics I Good for Trump, Bad for Trump: How midterm results will help — and hurt — the president (C) Trump Today: President blasts Republican candidates who lost in midterms and signals willingness to work with Democrats (MW) Democrats ready to pursue aggressive Trump oversight: Pelosi (R) Democrats to push for big infrastructure bill with ‘real money’ in 2019 (R) US politics II Jeff Sessions Pushed Out as Attorney General (W) Trump’s new Acting Attorney General Matthew Whitaker will take over Mueller probe oversight (C) Trump Vows ‘War-Like Posture’ If Democrats Investigate Him (B) Mike Bloomberg and Tom Steyer become kingmakers for Democrats as both billionaires mull a 2020 run (C) 29-year-old Alexandria Ocasio-Cortez makes history as the youngest woman ever elected to Congress (C) Geopolitics & trade U.S.-China Trade Tensions on Display at Shanghai Expo (W) Migrant Caravan Makes a Stop in Mexico City (W) Industries & companies FANGs: Facebook got through the midterms mostly unscathed, although it’s still got lots of work ahead (C) FANGs: Google Plans Large New York City Expansion (W) FANGs: Amazon HQ2 Plans Could Make Defense Hiring Even More Competitive (W) Hotels: Wynn Resorts shares fall 12 percent as it misses earnings estimates (C) Media: Comcast is developing a video-streaming box for broadband-only customers (C) Pot: Marijuana stock Tilray up 30% after cannabis foe Jeff Sessions resigns under pressure (C) Retail: Michael Kors Fumbles Sales Opportunity (W) Tech: Samsung just announced a new smartphone that can fold in half (C) Tech: Zillow sheds a quarter of its market value as rising interest rates weigh on home sales (C) Technology Your Tesla Can Go Zero to 60 in 2.5 Seconds But Can’t Get AM Radio (W)

November 07 (Wednesday) Markets Oil prices extend falls on well supplied market, Iran sanction waivers (R) Central banks Powell’s Monetary Policy Gets Muddled by Jittery Markets, White House (B) Janet Yellen Warns Tools Are Inadequate to Tackle Global Risk (B) US A Kink in the Phillips Curve? Wall Street Economists Are Divided (B) China Xi Jinping makes fresh promises to open China’s economy and boost imports (SCMP) Crazy Work Hours and Lots of Cameras: Silicon Valley Goes to China (NYT) US politics Midterms May Spur Increased U.S. Fiscal Spending, Not Gridlock (B) Geopolitics & trade Foxconn mulls importing Chinese skilled workers for Wisconsin plant (MW) Industries & companies FANGs: Amazon is reportedly moving into Long Island City, Queens: Here’s what the neighborhood is like (C) FANGs: Amazon Said No to Cactus, Yes to Data in Hunt for New Office (B) FANGs: Was Amazon’s Headquarters Contest a Bait-and-Switch? Critics Say Yes (NYT) Healthcare: Alphabet kicks off a private two-day conference dedicated to health, featuring AI chief Jeff Dean (C) Corporate finance China’s IPO Drought Features 35 Exhausted Regulators (B) Offbeat Kavanaugh signals possible break with fellow conservatives in death penalty case (C)