What I Am Reading

August 27 (Monday) YRI Video Podcast: Does the stock market have a breadth problem? ‘Dr. Ed’ Says Don’t Underestimate Trump’s Economy Daily Markets Overview Markets Asia markets in mixed territory after Fed comments and China’s yuan announcement (C) How to Catch an Emerging Market Rebound (BR) Italy’s Bond Woes Could Still Roil Global Markets (BR) Goldman Cashes In on Passive-Investing Boom (W) Central banks Powell, Trump and Amazon Effect: What We Heard at Jackson Hole (B) At Fed Retreat, Central Bankers Eye New Economic Risks (W) US Signs of a Strong Economy: Lawns Need Mowing (W) World’s Priciest Home Market Pushes Millennials Beyond the Law (B) Brace yourself, this is how much America’s 1% has saved (MW) Trade U.S., Mexico Said Poised to Reach Nafta Deal Soon as Monday (B) Industries & companies Consumer: Beyond Soda: How and Why Drink Options Are Exploding (W) FANGs: Why No One Can Catch Netflix (W) FANGs: Netflix Earnings: Where Accounting Meets Showbiz (BR) Health Care: Why Health Care’s Rally May Be Just Getting Started (BR) Tech: The Videogame Industry Reaches for the Cloud (BR) Offbeat John McCain Remembered as Principled Leader (W) Why the 4-day workweek might be closer than you think — and the 10 careers best suited to it (C)

August 25 (Saturday) Markets Stocks Push Higher as Powell Defends Fed’s Rate Path (W) Final dog days of summer could be a good time for stocks (C) Rising Metals Prices Show Little Sign of Substantially Boosting U.S. Output (W) Central banks I Fed’s Powell Defends Pace of Rate Hikes to Avert Overheating (W) Powell Doctrine Emerges as Fed Chief Debuts at Jackson Hole (B) Fed’s Mester Says Gradual Rate Increases Still Best Path (W) Fed Signals Unease About Drop in Unemployment (W) Central Banks II As big firms get bigger, rate cuts may pack less punch: study (R) BOE Economist Warns of Giant Firms’ Effects on Inflation, Growth (W) How ‘Intangible Capital’ Explains Rising Corporate Concentration, Weak Investment (W) Central Banks III China Central Bank Reintroduces Measure to Bolster the Yuan (W) PBOC Joins Forces With Powell to Hit the Brakes on Dollar Rally (B) The Complex Calculations Behind Angela Merkel’s ECB Strategy (B) US U.S. Durable-Goods Orders Fell 1.7% in July (W) US politics Taxpayers scramble as proposed IRS rule on local taxes wrecks workaround strategy (C) Geopolitics Trump Cancels Pompeo’s North Korea Trip Over Lack of Progress (W) Industries & companies Autos: How Two Musk Decisions in 2016 Put Tesla Into Trouble (W) Defense: Defense Companies Run Space Race (W) FANGs: Waymo, Alphabet’s Self-Driving Unit, Steers Into China (W) FANGs: Tech Giants Target Accounts Linked to Iran (W) Tech: Microsoft Hit With U.S. Bribery Probe Over Deals in Hungary (W) Corporate finance Elon Musk hiring Morgan Stanley probably closes the book on ‘funding secured’ (C) Shareholders Approve Cigna-Express Scripts Deal (W)

August 24 (Friday) Markets Trump says impeachment would crash the market. Really? (N) Investors Needn’t Fear Trump Impeachment (W) What Does the Longest Bull Market Mean? A Debate (B) Active Managers Fall Further Behind the Indexes They Aim to Beat (B) Currencies Chinese Households Shrug Off Depreciation Fears to Embrace Yuan (B) Euro Pessimism Reaching Point Where Some Say It’s Time to Buy (B) Central banks What to Watch for at Fed’s Jackson Hole Symposium (W) A 1998 Paper May Yield Clues to Powell’s Themes for Jackson Hole (B) The Fed Worries About Corporate Monopolies. Investors Should Just Buy Them. (W) Fed poised to raise rates, but maybe not much farther (R) Fed’s George Calls for More Rate Increases (W) Fed Officials Say Rate-Hike Criticism by Trump Won’t Sway Policy (B) US U.S. New Home Sales Fell in July (W) China Alibaba Sales Jump 61%, Fueled by Online Spending (W) US politics I Sessions Defends Himself After Trump Slams DOJ and Decries ‘Flipping’ (W) Key Republicans Give Trump a Path to Fire Sessions After the Election (B) Juror in Manafort Trial Says There Was One Holdout (W) Billionaire Democrat Tom Steyer is seriously looking into running for president as he pushes for Trump’s impeachment (C) US politics II U.S. Senate passes massive spending bill for defense and domestic programs (R) U.S. CEOs warn of harm from Trump administration’s immigration policy (R) DNC Says Reported Hack Attempt Was a False Alarm (W) IRS Moves to Block New York, New Jersey Plans to Bypass SALT Cap (B) Geopolitics & trade U.S.-China trade talks end with no breakthrough as tariffs kick in (R) Peter Navarro Used To Be a Democrat. Now He’s the Mastermind Behind Trump’s Trade War (Time) Ford Executive to Lead North Korea Talks (W) Taking Cue From the U.S., Australia Bans Huawei From 5G Network (W) Industries & companies Consumer: Coca-Cola Launched 500 Drinks Last Year. Most Don’t Taste Like Coke. (W) FANGs: One of Google’s newest sister companies is ready to go after the $96 billion cybersecurity industry (C) FANGs: Apple is hiring scores of ex-Tesla employees, and not just for its car project (C) Industrials: Honeywell Spinoffs Give Investors Early Look at Operations (W) Retail: Strong Consumption Breathes New Life Into Retail Stocks (W) Retail: Who Killed Toys ‘R’ Us? It Wasn’t Only Amazon (W)

August 23 (Thursday) Markets Calling Bull on the Longest Bull Market (W) It’s going to take a lot more for the stock market to start caring about Trump’s legal woes (C) Goldman Says Keep Calm as Curve Narrows to Another 11-Year Low (B) Turkey Meltdown Hits Japan’s Mom-and-Pop Investors (W) Central banks Fed Signals Readiness to Hike Again If Economy Stays On Track (B) | Minutes Fed officials worry that the trade war poses the biggest threat to ‘strong’ economy (C) Jackson Hole in Spotlight as Fed’s Key Rate Ticks Higher (W) US Home Sales Tumbled In July for the Longest Slump Since 2013 (W) Million-Dollar Home Sales Are Gaining in U.S. While the 99% Balk (B) Here’s who owns a record $21.21 trillion of U.S. debt (MW) US politics Manafort and Cohen weren’t the only Trump World legal bombshells this week. Here’s what you missed (C) Trump Denies Cohen’s Claims as Scrutiny of Campaign Intensifies (B) Trump Tells Fox He Knew ‘Later On’ About Hush-Money Payments (B) Geopolitics & trade Mexico says deal with U.S. on NAFTA issues may be ‘hours’ away (R) For U.S. to Stay in WTO, China May Have to Leave (W) From kayaks to fitness trackers, the latest round of China tariffs will cost US consumers more (C) Trump Makes Multiple Gaffes Portraying Chevrolet as a Trade Victim (B) GOP billionaire Ken Langone: ‘We’ve been patsies’ on trade, but Trump will level the playing field (C) Industries & companies Airlines: Even with a free carry-on, American Airlines bets travelers will still pay to avoid the cheap seats (C) FANGs: Apple’s impressive rally is about to make CEO Tim Cook $120 million richer (C) FANGs: Facebook Investors Who Bought the Historic Dip Aren’t Seeing a Quick Recovery (B) Retail: Target’s Sales Growth Highest in More Than a Decade (W) Restaurants: Olive Garden to offer full-year Never Ending Pasta Pass promotion for $300 (MW) Corporate finance Hartford Financial to Buy Navigators for $2.1 Billion (W) Saudi Arabia reportedly calls off Aramco IPO and disbands advisers (C) Offbeat Don’t want Google tracking you? You have almost no choice, according to a study. (WP) The Next Big Bet in Fracking: Water (W) YRI Video Podcast: YRI Fundamental Stock Market Indicator remains bullish for stocks. Daily Markets Overview

August 22 (Wednesday) Markets Stocks Set to Enter Longest Bull Market as S&P Hits Record (W) The Longest Market Rally in History? Take a Closer Look (B) Trump Can Complain All He Wants, But the Dollar Will Stay Strong (B) No Quant Is Safe as Global Stress Hits Risk Parity Where It Hurts (B) Central banks Fed’s Kaplan Still Favors Gradual Path of Rate Increases (W) Fed Minutes May Drop Clue About How Long Powell Will Hike Rates (B) Europe Brexit Negotiations Will Now Be Carried Out ‘Continuously,’ Barnier Says (B) Japan Abe Rival: Millions of Japanese Are Falling Behind Under Abenomics (W) China Chinese Banks Turn to New Tool to Win Savers (W) US politics Michael Cohen Will Plead Guilty to Criminal Charges (W) Trump’s EPA Says More Americans Will Die Under Its Power-Plant Rollback (B) Trade U.S. Moves Toward New Tariffs on China Despite Trade Talks (W) What’s Next in the Trade War? Key U.S.-China Events to Watch For (B) Businesses beg for tariff relief as trade war with China rolls on (WP) Trump Auto Tariff Timetable Likely to Slip (W) U.S., Mexico push for NAFTA autos deal, eye Canada’s return (R) Geopolitics Russian Hackers Ramp Up U.S. Cyberattacks Ahead of Midterms (W) Microsoft’s Russian Hacking Revelations Spur U.S. Lawmakers’ Ire (B) U.S. officials threaten Russia with ‘much more economic pain’ (R) Trump vows ‘no concessions’, Turkey’s lira stays under pressure (R) Industries & companies Autos: UBS repeats: Tesla will lose money on $35,000 Model 3 (C) Autos: Opinion: Dear Elon: Ask Apple or Google to acquire Tesla (MW) Financials: JP Morgan to unveil new investing app with an eye-catching, disruptive price: Free (C) Home Builders: Toll Brothers Profit Jumps as Wealthy Americans Spend (W) Corporate finance Slack Takes Wraps Off $7.1 Billion Valuation Deal (W) Offbeat What Does Knee Surgery Cost? Few Know, and That’s a Problem (W) Sorry, bacon diet fans — low-carb diets are now being linked to an early death (C)

August 21 (Tuesday) Markets Dow Industrials Are on Track for Highest Close Since February (W) Why this stock-market bull may still have miles to go before it sleeps (MW) Apple and these other stocks have contributed the most to this historic bull market (C) Tech Bulls Brush Off Price Fears (W) EM turmoil pushes US yield curve to its lowest in a decade (FT) Gundlach warns record bond speculation could cause big move in interest rates (C) Central banks Powell to Discuss Economy and Monetary Policy at Jackson Hole (B) At Heart of New Fed Debate: Bonds or Bills? (W) Atlanta Fed Chief Pledges to Oppose Hike Inverting Yield Curve (B) Trump Complains to Donors in the Hamptons About Powell’s Rate Hikes (B) Trump tells Reuters he should be given ‘some help’ by the Fed (MW) Fed Research Director David Wilcox to Retire at Year’s End (W) Europe Eurozone hails Greek bailout exit as end of crisis (FT) Trade Starbucks Boycott? Nike Shutdown? China Holds Trade War Leverage (B) Industries & companies Autos: Some Tesla Suppliers Fret About Getting Paid (W) FANGs: Apple Is Planning a New Low-Cost MacBook, Pro-Focused Mac Mini (B) FANGs: Apple Pulls Illegal Apps Targeted by Chinese State Media (W) Retail: Estée Lauder Posts Robust Sales Growth (W) Tech: Nvidia spikes after CEO introduces new processors for gaming (C) Corporate finance Pepsi to Acquire SodaStream in Shift to Healthier Drinks (W) Pepsi Analysts Question SodaStream Synergies, Strategic Fit (B) Tyson Foods to Acquire Keystone Foods for $2.16 Billion (W) Citi Research says Tesla should raise capital to prevent a negative confidence ‘spiral’ (C) Offbeat Colombia Tests Drones to Kill Plants Used for Cocaine (W) Videogame Developers Are Making It Harder to Stop Playing (W) CPAs Fight to Protect Their Turf (W)

August 20 (Monday) Markets Why U.S. Stocks Rule the World (BR) The Bull Market Rumbles On Despite Turkey Turmoil (BR) How to Invest in Emerging Markets Without Getting Gobbled By Turkey (BR) US Workers are about to take home their biggest checks in years: study (P) A Surprising Bulwark for the U.S. Economy: Personal Savings (W) Fewer Americans Uproot Themselves for a New Job (W) Europe As Euro Crisis Ends, Italy Stokes Fear of a Revival (W) China Local experiments with reform are becoming rarer under Xi Jinping (E) US politics Trump to Roll Back Restrictions on Coal Plants (W) Trump Slams Social-Media Companies Over ‘Censorship’ (W) Trump insists White House counsel is no ‘rat’ after report suggests he fed information to Mueller (C) This exclusive ‘boot camp’ for congressional staffers is trying to make America bipartisan again (C) Trade Tariffs Will Hurt U.S. More Than Rest of World, Maersk Says (B) Used car prices are weirdly spiking, and tariffs may be to blame (C) Industries & companies FANGs: Amazon’s No Bargain. Here’s Why Investors Keep Buying (W) Media: Millennials are sharing streaming passwords, costing companies millions in revenue (C) Tech: Big Spenders Pinch Chip Equipment Makers (W) Corporate finance China’s Anbang Looks to Sell U.S. Luxury Hotels (W) Musk’s dream of taking Tesla private with current shareholders is going to be very hard, say experts (C) Technology What Your Car Knows About You (W) Blockchain Is Starting to Show Real Promise Amid the Hype (BR) Offbeat Trump’s Disclosure Idea Would Take Investors to a Dark Place (BR) Wall Street Erases the Line Between Its Jocks and Nerds (W) Elon Musk Says Changing His Way of Working Is Not an Option (B)

August 18 (Saturday) YRI Video podcast: The longest bull market in history? Sure, why not? It is discounting what may soon be the longest economic expansion in history. Daily Markets Overview Markets Wild Week Was Just Like All the Others in a Near-Record Bull Run (B) Blue Chips Rise as Fears Over Turkish Lira Crisis Ease (W) Is the Turkish crisis a buying opportunity? (MoneyWeek) Trade talks and Fed Jackson Hole meeting could create more than the usual late August volatility (C) The Case for Stock-Picking (W) Flat Yield Curves Are No Reason to Sell Stocks (B) US U.S. Leading Economic Indicators Rose in July (W) U.S. Consumer Sentiment Soured in August (W) Youth Summer Jobless Rate at 50-Year Low (W) Emerging White House’s Kudlow says China looks ‘terrible.’ Numbers paint a murkier picture (C) How Erdogan’s Push for Endless Growth Brought Turkey to the Brink (W) S&P cuts Turkey credit rating deeper into junk territory (C) Geopolitics & trade U.S., China Draw Up Plan to Settle Trade Dispute by November (W) U.S., Mexico Bridge Differences on Nafta Farm Goods (B) Industries & companies Autos: The Game Has Changed at Tesla (W) Autos: Tesla Board Torn Between Service to Shareholders and Iconic CEO (B) FANGs: Google Defends Push Into China Amid Censorship Concerns (W) Industrials: Get in Line: Backlog for Big Rigs Stretches to 2019 (W) Industrials: Deere Reports Strong Demand Despite Tariff-Concerned Farmers (W) Industrials: Deere Says Trade Anxiety Is Getting Overblown in the Farm World (B) Retail: Nordstrom Deserves Better (W) Tech: Foxconn Pursues Chip Ambitions With Plans for China Plant (W) Corporate earnings reporting Trump Ignites Wall Street Debate With His Tweet on Earnings (B) Trump Asks SEC to Study Six-Month Earnings Reporting (W) A Guide to the Pros and Cons of Trump’s 6-Month Earnings Plan (B) The End of Quarterly Reporting? Not Much to Cheer About (W) Offbeat US government is reportedly trying to force Facebook to help it wiretap Messenger (C)

August 17 (Friday) Markets Dow soars more than 400 points on word of new trade talks with China, Walmart’s blowout beat (C) Why China’s Yuan Fall Hasn’t Stopped Stocks—Yet (W) U.S. Stocks Vulnerable as Tech and Momentum Become One Trade (B) As Lira Rebounds, Investors Find Other Ways to Bet Against Turkey (W) US Booming Walmart, Cisco results show US economy’s strength is real and broad-based (C) Housing tipping back to a buyer’s market as sellers cut prices (C) Europe Why Can’t Europe Do Tech? (B) Emerging Turkey’s Energy Bill Soars Amid Crisis (W) US politics Democrats have about a 70% chance of winning the House, Nate Silver’s FiveThirtyEight forecasts (C) Trump, Seeking to Relax Rules on U.S. Cyberattacks, Reverses Obama Directive (W) Trump wants federal suit against opioid manufacturers (C) Trump’s military parade is estimated to cost $92 million – $80 million more than earlier estimate (C) Geopolitics & trade U.S., China Plan Trade Talks as Tariffs Dispute Takes Toll (W) White House economic advisor Kudlow confirms trade talks to resume with China later this month (C) Trump Says Tariffs Will Rescue U.S. Steel Industry (W) Trump Says He Is in ‘No Rush’ to Renegotiate Nafta (W) Mnuchin Says Turkey Faces More Sanctions If Pastor Not Released (B) Industries & companies Autos: Model 3’s Profitability May Be Fleeting, UBS Report Says (W) Autos: After an inside look at Tesla’s Model 3 factory, one analyst says producing 8,000 cars a week is possible (C) Pharma: FDA approves Teva’s generic EpiPen after yearslong delay (C) Retail: Walmart’s best sales in a decade show US consumer may be strongest in years because of the tax cut, jobs growth (C) Retail: Good Isn’t Good Enough at Macy’s (W) Retail: J.C. Penney’s Embittered Analysts Fume About ‘Worthless’ Shares (B) Tech: Tencent’s Rout This Year Has Wiped Out Over $175 Billion in Market Value (W) Corporate finance Musk’s take-private proposal for Tesla is a nightmare for potential advisors (C) Offbeat NYU will offer a full ride to all medical students (C) Not enough people are paying attention to this economic trend (Gates)

August 16 (Thursday) Markets Dow’s tumble puts it at risk of the longest stint in correction territory in nearly 60 years (MW) ‘If there were ever a moment to harvest gains … it is August 2018’: Guggenheim CIO (MW) U.S. Policy Stirs Foreign Markets (W) Latest Economic Worries Crush Metals Prices (W) Why Aren’t Bond Yields Higher? Tax Cuts… (B) Central banks Trump might get his slowdown in rate hikes, but for the wrong reason (C) US U.S. Worker Productivity Improves at Best Pace in Three Years (W) Retail Sales and Manufacturing Are Powering U.S. Growth This Summer (W) U.S. Industrial Production Edged Up in July (W) Americans Are Spending Like Crazy at Restaurants (B) China Tech Giant Tencent Caught in Chinese Regulatory Trap (W) Emerging Turkey’s Economic Red Flags Stand Out Among Emerging Markets (W) Qatar Comes to Rescue as Turkey Moves to Avert Financial Crisis (B) US politics Trump is right: America was ‘built on tariffs’ (MW) Trump is preparing to expand ‘Buy America’ rules to include government infrastructure projects (C) Trump Revokes Security Clearance of Ex-CIA Director (W) Industries & companies Financials: Banks Say No Thanks to Volcker Rule Changes (W) Media: Netflix pays more for TV shows up front, but keeps more upside on big hits, insiders say (C) Retail: Macy’s is getting crushed, but the retail rally isn’t over yet, according to one top strategist (C) Tech: Uber CEO Embraces Losing Money With Revenue Growth Slowing (B) Corporate finance Goldman Says It’s Advising on Tesla Days After Musk Buyout Tweet SEC has reportedly served Tesla with a subpoena after Elon Musk’s take-private tweet