What I Am Reading

Jul 25 (Tuesday) Stocks Dow Falls as Investors Await Another Round of Earnings Reports (W) Traders Fear Hard Landing in Emerging Markets (B) Currencies Protection Against a Dollar Plunge Is the Costliest Since 2009 (B) Traders haven’t been this bearish on the US dollar for more than a year (BI) Oil Saudi Arabia Cuts Oil Exports (W) Barclays Oil Sale Triggers a Huge Number of Trades in Exotic Options (B) Central banks & IMF Fed likely to signal it is on course to raise rates (FT) IMF Sees U.S. Fading as Global Growth Engine (B) World Economic Outlook Update, July 2017 (IMF) US Existing-Home Sales Slide as Prices Surge on Tight Supply (W) GDPNow Forecast for Second Quarter Inches Up [to 2.5%] (FRB-ATL) Wage Growth Tracker Slows Slightly to 3.2 Percent in June (FRB-ATL) Europe Euro Area Economy Grows at Slowest Pace in Six Months (B) Eurozone Economy Slows in July, Survey Shows (W) Zombie Companies Littering Europe May Tie the ECB’s Hands for Years (B) Polish President to Veto Two Bills Seen Limiting Nation’s Courts (W) Deutsche Bank Weighs Moving $350 Billion From U.K. to Frankfurt (B) Emerging The Worst of Mexico’s Inflation and Growth Struggles May Be Over (B) US politics Senate GOP Unsure of What Health-Care Measure They Will Vote On (W) Kushner Details Russia Meetings, Denies Collusion (W) Democrats Pitch Populist Election Agenda (W) Democrats Reveal Their Plan to Return to Power (B) Geopolitics & trade Mnuchin’s bank reforms carry warning for Europe (FT) Apple Supplier Foxconn Looks at Producing Display Panels in Wisconsin (W) Industries & companies Banks: Could Retailers’ Struggles Extend to Banks? (FRB-ATL) Pharma: Samsung Releases Arthritis Drug in First Foray Into U.S. Pharmaceuticals (W) Pharma: How Blockbuster Drugs Fight Off Cheaper Competition (W) Travel: Expedia, Priceline Home In on Airbnb’s Turf (W) Corporate finance Deals ‘on Pause’ as CEOs Wait for More Certainty, Baronoff Says (B) IPO shortage keeps US cash in a few wealthy hands (FT) KKR to Buy WebMD for $2.8 Billion (W) Uber Rival Grab’s Fundraising Values It at $6 Billion (W) HNA Details New Ownership Structure (W) Technology Elon Musk’s Tunnel Plan Isn’t as Crazy as SpaceX or Tesla (B) Robots Picking, Retailers Grinning (W) Norway Pioneers Crewless Ships (W) NASA Has a Way to Cut Your Flight Time in Half (B)

Jul 24 (Monday) Markets Bull market trots along and stays calm. But for how long? (USA) Will stocks plunge if Trump’s tax plan implodes? Maybe not (NN) The Stock Market Is Believing the Fed — for Now (N) It’s Time to Go Large in Small-Caps (BR) China’s Nasdaq Is About to Be Cheaper Than Nasdaq for First Time (B) Commodities & currencies OPEC Grapples With Growing Threats to Oil Deal (W) Will the euro break out of a two-year trading band? (FT) Funds Vanguard closes in on BlackRock’s number-one spot (FT) US The Baffling Mystery of Inflation Deflation (BR) More Americans are renting than at any time in the last 50 years (BI) In Reversal, Colleges Rein In Tuition (W) Canadian Wildfires Choke Lumber Supply to U.S. Home Builders (W) China China’s Crackdown on Global Spending Is Warning to Big Business (W) US politics Senate Health Bill Prospects Worsen After Procedural Setback (B) The steps Trump can take to let Obamacare fail (FT) Scaramucci Brings Wall Street Pitchman Skills to White House (B) Schumer Predicts Trump Firing Mueller Would Be GOP Tipping Point (B) Russian Lawyer Who Met Trump Jr. Had Worked for Intelligence Agency (B) Senate Panel Subpoenas Founder of Firm Behind Trump Dossier (W) Kushner’s Amended Financial Filing Lists 77 ‘Omitted’ Holdings (B) Geopolitics & trade Trump’s Modest Proposal for a Nafta Revamp (B) Mexico Open to Reviewing U.S. Trade Deficits (W) White House Signals Support for Bill on Russia Sanctions (W) Islamic State Is Dying on the Battlefield—and Winning on the Internet (B) Industries & companies Aerospace: Boeing, Flying High, Stays the Course on Job Cuts (W) Aerospace: 8 Aerospace-Defense Stocks With Juicy Yields (BR) Financials: How to Deregulate Wall Street (Without Causing a Crash) (BR) Financials: Deregulation Could Lift Big Bank Profits 30% (BR) Pharma: Lawyers Hope to Do to Opioid Makers What They Did to Big Tobacco (W) Technology Elon Musk Claims U.S. Approval for World’s Longest Tunnel (B) Norway Takes Lead in Race to Build Autonomous Cargo Ships (W) Next Leap for Robots: Dispatching Your Online Order (W) Offbeat Immigration raids to target teen alleged gang members (R) This French castle can be yours for $17 million — take a look inside (BI)

Jul 22 (Saturday) Markets Short Sellers Give Up as Stocks Run to New Records (W) Stocks Fall as Investors Parse Latest Batch of Earnings Reports (W) Record S&P 500 Failing to Stem Steadiest Fund Outflow Since 2009 (B) The Great Rotation May Finally Be at Hand (B) Investors, Stop Worrying That ‘Nobody’ Is Worrying (W) Winter is always coming for SocGen’s perma bear (FT) Oil Oil Slides Most in Two Weeks as OPEC Production Is Seen Rising (B) US Broad Measure of U.S. Manufacturing Efficiency Confirms Downtrend (B) Meet Your New Landlord: Wall Street (W) US politics Spicer Resigns Over Hiring of New Chief of Communications (W) Scaramucci Still Has Unfinished Business in China (B) Donald Trump Preps for Battle Against Lawsuits (W) White House to Tackle Manufacturing Gaps It Says Weaken U.S. Security (W) Geopolitics U.S. Puts Chinese Deals on Ice (W) U.S. to Ban Tourism to North Korea (W) U.S. and Exxon Spar Over Alleged Russia Sanctions Violation (W) Industries & companies Beverage: AB InBev to Buy Energy-Drinks Maker Hiball (W) Energy: Is BHP Set to Make Another Big, Risky Investment? (W) FAANGs: FANG Stocks Lose Some Bite (B) FAANGs: Wal-Mart, Amazon Rivalry Spreads to Forklifts (W) FAANGs: FTC probing allegations of Amazon’s deceptive discounting (R) FAANGS: Democrats in U.S. Congress urge review of Amazon’s Whole Foods deal (R) Financials: U.S. Mega Banks Are This Close to Breaking Their Profit Record (B) Financials: Capital One’s Profit Beats Estimates (B) Financials: The Rise of AIG’s New CEO (W) Industrials: GE Leaves Investors in Limbo (W) Tobacco: Big Tobacco Finds Surprise Allies in Smokeless Push (W) Technology: Microsoft Profit Jumps, Fueled by Cloud Computing (W) Technology Don’t Fear the Robots (W) Lyft Shifts Gears With New Driverless-Car Division (W) Lyft to double staff in autonomous car drive (FT) China’s Got a Huge Artificial Intelligence Plan (B) Offbeat Barclays ‘Gold’ Equity Research May Cost $455,000 (B) Former CBO Leaders Ask Lawmakers to Stop Bad-Mouthing Agency (B) China’s 2.4 Trillion Cigarette Habit Is Actually Progress (B)

Jul 21 (Friday) Markets Tech Is No Bubble, But the Stock Market Might Be (W) Investors turn from US to European stocks (FT) What Will Satisfy the Market’s Thirst for High-Grade U.S. Bonds? (B) What the Bond Market is Looking for From ECB This Week (B) Euro jumps above $1.16 in wake of Draghi comments (FT) Central banks When Will the ECB Pull Its Trillions From the Markets? (B) Bank of Japan Delays Inflation Target Date—Again (W) BOJ’s Refusal to Budge Sparks a Revival of Japanese Flow Abroad (B) Here’s Why Yellen’s Fed Cares About America’s Opioid Epidemic (B) US DAVID ROSENBERG: A number of warnings signs are bubbling up in the US economy (BI) Low Earners Are Making the Biggest Gains for the First Time in Years (W) Foreign Buyers Pump Up U.S. Home Prices (W) Greenwich Luxury Listings Tumble as Sellers Discount or Drop Out (B) How to Fix Social Security (B) Europe Non-performing loans not just Italy’s problem (FT) Emerging India’s Banking Vigor Stokes Its Economic Boom (B) India’s New Tax Is a Work in Progress (B) China’s Tough-Talking Theme-Park Mogul Surrenders to Minnie Mouse (W) US politics US House panel approves budget measure that advances tax reform (C) The GOP Failed to Replace the ACA. Can Congress Fix What’s Wrong? (B) CBO: Obamacare Repeal Would Add 32 Million Uninsured, Cut Deficit by $473 Billion Through 2026 (W) Citing Recusal, Trump Says He Wouldn’t Have Hired Sessions (N) Sessions Plans to Remain in Post After Rebuke by Trump (W) Trump Shows Progress in Push to Rein In Federal Rule-Making (W) Trump’s laptop ban on Middle East flights has ended (BI) Big German Bank, Key to Trump’s Finances, Faces New Scrutiny (N) Geopolitics & trade NAFTA negotiations set to begin August 16 in D.C. (NN) Renegotiating NAFTA — in 15 easy steps (NN) More US-China trade tensions expected after disappointing talks (C) U.S. Fines Exxon Over Russian Sanctions Breaches (W) Industries & companies                 Autos: Volvo deepens Geely links to cut electric car costs (FT) FAANGs: Amazon’s Kenmore Deal Puts Appliances on Path of Inkjet Printers (B) FAANGs: Netflix looks to become the world’s entertainer (FT) Financials: Banks’ Earnings Highlight Diverging Paths Since Crisis (W) Technology: Microsoft exceeds forecasts thanks to the cloud (FT) Technology Half of American jobs are at risk from automation, new study suggests (C) This chart shows where robots are going to replace humans on Wall Street (BI) Musk Tweet Teases a New York-to-D.C. Hyperloop (W) Quantum Computing Would Make Today’s Encryption Obsolete (B) Offbeat Churchill Tried to Cover Up Nazi Plan to Woo Edward VIII (B) New York Becomes the City That Never Shuts Up (N)

Jul 20 (Thursday) Markets Tech Stocks Eclipse Record from Dot-Com Era (W) Markets’ Steady Climb in 2017 Defies Historic Odds (W) Markets to Fed: Please Leave Us Alone (W) Money Managers Are the Most Underweight U.S. Stocks Since 2008 (B) How to Get a Free ETF: Forget the Fee Wars, Find Short Sellers (B) Credit, currencies, & commodities Debt Ceiling Concerns Start to Surface in Treasury Bills (B) Corporate Bond Traders Play Chicken (B) Goldman Sachs Says Take Profit on Emerging-Market Carry Trade (B) Traders Hurt by Worst Start for Commodities Since 2010 (W) Coal has no future, says US railroad boss (FT) Central banks Fed chair hopefuls back 3% Trump growth target (FT) Kuroda Lingers Alone in Land of Stimulus as Peers Move On: Chart (B) US U.S. Housing Starts Jumped in June (W) This chart reveals a huge difference in how millennials and their parents spend money (BI) Europe US banks eye Europe’s non-performing loans (FT) Where Will Banks Go After Brexit? Frankfurt Takes Early Lead (W) Brussels warns Poland against moves on judiciary (FT) US politics Trump to Senate GOP: Don’t Leave Town Without a Health-Care Plan (B) Geopolitics, trade, & cybersecurity US and China step up steel talks to avert trade war (FT) Veteran U.S. Official to Lead Nafta Talks (W) Cyberattack on Medical Software Exposes Industry’s Vulnerability (B) Industries & companies Airlines: United Airlines Investors Lose Patience Following Tepid Outlook (B) FAANGs: Apple Picks New Chief for One of Its Toughest Markets: China (W) FAANGs: Amazon Lures Publishers to New Social Network by Paying Them to Post (W) FAANGS: Facebook Launches News Analytics Tool in Partnership with Nielsen (W) Financials: Morgan Stanley Tops Goldman in Trading Again (W) Financials: AmEx Starts Spending More on Reward Points to Retain Customers (B) Health care: Hospitals Fight to Keep Medicare Drug Subsidies (W) Restaurants: Nocera: Now the Cloud Over Ackman’s Head Says ‘Chipotle’ (B) Wireless: T-Mobile Raises Subscriber Forecast as Price War Rages On (B) Corporate finance Uber, Amazon and Microsoft brace for accounting shake-up (FT) Jana Sells Whole Foods Stake (W) BP is thinking about an IPO for its US pipeline assets (BI) Univision Draws Interest From Potential Bidders Amid IPO Delays (W) Technology Robots Take Over Retail Jobs (W)

Jul 19 (Wednesday) Markets Dow Lower as U.S. Dollar Weakens (W) The Bulls Aren’t Running in a Herd (W) Vix index sends mixed messages to investors (FT) Central banks Monetary Policy in Japan Has a New Problem: Amazon (W) US Foreign Buyers Pump Up U.S. Home Prices (W) Too Many Americans Live in a Mental Fog (B) Europe Citigroup Chooses Frankfurt as New European Trading Hub (B) China China’s Censors Can Erase Chat Images in Transmission (W) US politics GOP Stares Down Loss on Health-Care Push (W) Odd Position for GOP: Working to Boost the Health Law, Not Kill It (W) GOP Looks to Tax Policy After Health-Care Setback (W) White House to Nominate Peirce as Republican SEC Commissioner (W) Geopolitics & trade White House Unveils Its Plans for Remaking Nafta (W) Arbitration Provision Emerges as Flashpoint in Nafta Overhaul (W) U.S. Walks Fine Line on Trade Talks With China (W) Trump, Putin Held Second, Private Talk at Dinner for G-20 (W) Trump Administration Slaps Iran With Additional Sanctions (W) Cybersecurity FedEx Struggles to Bounce Back From Cyberattack (W) Industries & companies Airlines: United Latest Airline to Ride New Fares and Fees to Higher Revenue (W) FAANGs: Google Tries Again With Glass (W) Financials: Goldman Sachs, BofA Reverse Roles With Core Business Disappointments (B) Financials: Goldman Hit Again By Bond Trading (W) Financials: Bank of America Results Get Boost from Higher Rates (W) Financials: Wells Fargo Planning More Branch Changes (W) Health Care: Health Insurers Brace for New Uncertainty After Bill’s Collapse (W) Health Care: Health Insurers’ Next Obamacare Scare Is Just Two Days Away (B) Materials: BHP Fourth-Quarter Iron Ore Output Rises 8% on Expansions (B) Media: Cable Giant Discovery in Talks to Merge With Food Network Owner (W) Restaurants: Chipotle Faces New Food-Safety Scare (W) Retail: Target CEO Warns That Hispanics May Be Shopping Less (B) Technology: IBM Revenue Decline Continues to Pressure Bottom Line (W) Technology: Ethereum Prices Aren’t Driving Chip Stocks (W) Offbeat Stitched up by robots: the threat to emerging economies (FT)

Jul 18 (Tuesday) Markets China just had a ‘Black Monday’ (BI) One of the market’s biggest fears is overblown[: Shrinking Profit Margins] (BI) The Vanishing Reward for Buying High-Yield Bonds (W) Investor Love Affair With Emerging Bonds Is Losing Momentum (B) Asset managers BlackRock’s Earnings Rise On Stronger Inflows (W) Vanguard Reaches the Top, But It’s Hard to Stay There (B) KKR Elevates Next Generation, Prepares for a Future Without Its Founders (B) Central banks This Magic Formula Reveals How the ECB Might Taper (B) Bank of Japan’s ETF Buying Raises Concerns Among Officials (B) US Americans Feel Good About the Economy, Not So Good About Trump (B) New U.S. Subprime Boom, Same Old Sins: Auto Defaults Are Soaring (B) Larry Fink Says Dark Clouds for U.S. Economy Aren’t Waning (B) U.S. to Offer More Visas to Temporary Seasonal Workers (W) This Isn’t the First U.S. Opiate-Addiction Crisis (B) Europe Euro-area inflation cools down (Eurostat) China China GDP growth points to 2017 rebound (FT) The Problem With China’s Economic Growth (W) China Blocks Big Banks From Lending to Dalian Wanda (W) US politics House Budget Committee to Consider FY18 Budget Resolution (W) Treasury Reassures Markets About Secret Debt-Ceiling Plan (B) GOP Splits Over Health-Law Taxes (B) Jamie Dimon Is Right to Raise the Alarm (B) Trump Administration to Share Records About Mar-a-Lago (B) Geopolitics & trade ‘Herculean’ U.S.-China Trade Deal Gets Less-Than-Heroic Reviews (W) Industries & companies Consumer: Activist Proxy Fight Puts Focus on P&G’s Cost-Cutting Effort (W) Energy: Big Oil Sees Salvation in Gas, But What If It’s the Wrong Bet? (B) FAANGs: Can the Tech Giants Be Stopped? (W) FAANGs: Netflix Scorches Subscriber Forecasts; Stock Surges (B) FAANGs: Blue Apron Shares Tumble Anew as Amazon’s Shadow Looms (W) FAANGs: 5 Billion Reasons Toys ‘R’ Us Struggles as Amazon Soars (W) FAANGs: Google Fiber Loses Chief Executive Officer After Five Months (B) Financials: Regulator Urges CFPB to Delay Rule Barring Mandatory Arbitration (W) Shipping: China’s shipping ambitions will not easily be contained (FT) Technology: IBM’s Latest Line of Mainframe Computers Focuses on Encryption (W) Offbeat Robotic Hogwash! Artificial Intelligence Will Not Take Over Wall Street (W)

Jul 17 (Monday) Markets The Dangers of a Record Dow (BR) Dovish Yellen Spurs Markets to Soar (BR) Ways of Winning in a Bull Market (N) Four Top Income Stocks From Emerging Markets (BR) Currencies & commodities Dollar Bears’ Case Grows Stronger (B) A Possible Alternative to Stocks and Bonds: Commodities? (N) Funds                                                                       Lower Fees Are Great, if You Actually Get Them (N) From $2 Billion to Zero: A Fund Goes Bust in the Oil Patch (W) US How to Predict the Next Recession (BR) Q. and A.: If Workers Are Scarce, Is It the Work or the Wages? (N) China China Launches Probe Into Possible Xi Jinping Competitor (W) Liu Xiaobo’s death holds a message for China (E) Winnie the Pooh barred by China’s online censors (FT) Japan Japan considers tough anti-monopoly rules on data (FT) US politics GOP Push to Pass Health-Care Law Faces New Setback (W) Trump Ready to Shake Things Up While Russia Investigations Grind On (B) South Carolina Shows Scale of Election-Hacking Efforts (W) Comey’s Writing a Book, and Publishers Are Eager to Pay Big Money for It (N) Geopolitics & trade Donald Trump’s G20 speech owed a lot to Putin (E) TPP, the Trade Deal Trump Killed, Is Back in Talks Without U.S. (N) Industries & companies Aerospace: New Jets Threaten Airbus and Boeing Duopoly (W) Airlines: Why Delta Is Better at Taking Your Money (B) Energy: 8 Great Energy Stocks at Bargain Prices (BR) Financials: Wells Fargo prepares to shed more businesses (FT) Health care: “A Great Time” to Invest in the Health-Care Sector (BR) Media: Disney Vows to Give Epcot a Magical, Long-Overdue Makeover (N) Pharma: Big Pharma Spends on Share Buybacks, but R&D? Not So Much (N) Retail: Will US retail’s death be the next big short? (FT) Retail: Back-to-School Leads Retail Mini-Rebound (BR) Shipping: As Trade Revives, Big China Shippers Merge (BR) Technology: Undervalued Tech: Cisco (BR) Technology: Overvalued Tech: Verint (BR) Technology: Micron May Be Headed for a Fall (BR) Technology: Apple Tests the Faithful (W) Trucking: Lift in Demand Fuels Hopes of Trucking Rebound (W) Corporate finance Overfunding floats Silicon Valley’s bubble economy (FT) After Wanda Deal, Chinese Property Developer Faces Debt Risk (N) Technology Elon Musk Lays Out Worst-Case Scenario for AI Threat (W) California Weighs a $3 Billion Electric-Car Push (W) Offbeat The Coming Revolution in Investment Research (BR)

Jul 15 (Saturday) Markets S&P 500 Hits Record as Inflation View Turns Iffy: Markets Wrap (B) Optimism in Financial Markets Fails to Show in Real Economy (W) Ageing bull run will need both earnings and Fed cheer (FT) Bond market cuts rate rise odds on US inflation data (FT) Central banks Inflation Data Weakens the Fed’s Case for Another Hike (B) Fed ticks boring box with $4.5tn unwind (FT) US U.S. Retail Sales Fell 0.2% in June (W) The euphoria about the US economy after the election has vanished (BI) First-Time Buyers Eye Homes (W) Europe Strong Eurozone Growth Shows Payoff of ECB Stimulus (W) US politics States to Health Insurers: Please Come Back (W) Russian Lawyer Who Trump Jr. Met Says She Was in Contact With Top Russian Prosecutor (W) Second Russian’s Role at Trump Jr. Meeting Raises Questions (B) Dimon Says Being an American Abroad Is ‘Almost an Embarrassment’ (B) Geopolitics Trump and Macron in Bastille Day show of bonhomie (FT) Here’s the White House’s Transcript of What Trump Told Reporters Off the Record (B) Industries & companies Financials: Earnings Take Shine Off Bank Stocks (W) Financials: JPMorgan beats, posts record-breaking quarter (BI) Financials: Citigroup beats on earnings as fixed income business soars (BI) Retail: More Bad News for Retailers (W) Retail: EBay Breaks July Sales Records Thanks to Amazon Prime Day (B) Telecom: Sprint Met With Buffett, Malone About Investment (W) Telecom: AT&T to Separate Media, Telecom Assets After Merger (W)

Jul 14 (Friday) Markets Global stocks at record highs after Yellen remarks (FT) An Obscure Technical Indicator Was the Only Way to Beat European Stocks This Year (B) Yellen Revives Investors’ Appetite for Emerging-Market Stocks (B) Why EM investors should beware indices (FT) Central banks Yellen: Premature to Conclude Inflation Trend Is Falling Short of 2% (W) Yellen on Trump’s 3% Growth Goal: ‘I’d Love to See It’ (B) Who will chair the Federal Reserve after Yellen? (FT) Cohn in the frame to lead Fed (FT) ECB’s Draghi to Speak at Jackson Hole, Giving Chance to Signal Shift (W) Uncoordinated QE shift has investors worried (FT) US U.S. Producer Prices Rose Slightly in June (W) Videogames Might Be Keeping Young Men Out of the Workforce (W) Europe Macron Pushes Germany to Commit More to Eurozone (W) Britain Is Shamed and Brussels Triumphant. But Is That Good for Europe? (B) China China Exports Rise for Fourth Straight Month (W) Why You Should Look to China for the Future of Retail (W) US politics Trump Says ‘Most People in Politics’ Would Take Russian Meeting (B) Trump Budget Would Not Balance In 10 Years, CBO Says (W) Health-Care Bill Delays May Doom Tax Reform This Year (B) Health Bill Would Let Insurers Sell Bare-Bones Plans (W) GOP Health Bill Adds $70 Billion for Exchanges to Woo Holdouts (B) How Senate Health Bill Compares to House Bill, Obamacare (W) Geopolitics China Defends Trade With Sanctions-Hit North Korea (W) Trump Meets With Macron in Paris Amid Controversy at Home (W) Industries & companies Airlines: Delta Misses Profit Target (W) Airlines: United Wants to Sell Your Seat to Someone Else for More Money (B) Retail: Bonfire of the Retail Stocks Brings Out Bargain Hunters (W) Corporate finance Manulife Exploring IPO or Spinoff for John Hancock Unit (W) Offbeat They’re The World’s Fastest Traders. Why Aren’t They Thriving? (B)