Dr. Ed's Blog

January 7 (Tuesday)

Markets
Defying gravity? What could bring U.S. stocks down to earth R
Wall Street market analysts see deeper sell-off ahead C
Defense stocks double the S&P 500’s gains months after crisis events C
Fear of War Sends Gold to Highest Price Since 2013 W
Tense Time for Buyers of Riskier Corporate Loans W

Central banks
Fed focuses on repo market exit strategy after avoiding year-end crunch R

US politics
Bolton says he is willing to testify in Trump impeachment trial R
How John Bolton just put the squeeze on Mitch McConnell over impeachment NN
Trump Adds Iran Risk to 2020 Tests of Impeachment, Re-Election B

Geopolitics & trade
‘Never threaten the Iranian nation,’ Rouhani warns Trump as crowds mourn commander R
Iranians Rally in Display of Unity as Calls for Revenge on U.S. Deepen W
U.S. on Alert for Iranian Response, Either Direct Assaults or Cyberattacks W
Iranian hackers likely planning social engineering, phishing attacks C
Chevron pulls oil workers from Iraq NN
Timeline of US-Iran relations ahead of Soleimani killing C

Industries & companies
Aerospace: Boeing Considers Raising Debt as MAX Crisis Takes Toll W
Autos: Ford Vehicle Sales Declined 3.2% in 2019 W
Financials: Few Bank Failures Could Be a Warning Sign for U.S. Financial  System W
FAANGs: Alphabet Stock Off to Strong Start in 2020 W
Retail: Lululemon founder Chip Wilson: Under Armour ‘lost it many years ago’ C
Restaurants: Yum Brands to Buy Habit Burger Grill W
Technology: Qualcomm Snapdragon Ride system announced for self-driving cars C

Corporate finance
Xerox Firms Up Financing for Bid to Take Over HP W
The Debate Over Share Buybacks, Explained C
Economists Question the Benefits of Targeted Tax Breaks W

YRI
Daily Markets Overview

January 6 (Monday)

Stocks
Dow Jones Industrial Average Finds Reason to Drop After U.S. Air Strike BR
Dogs of the Dow Stock-Picking Strategy Was a Winner for Decade BR
Stocks began 2020 at record highs. Here’s what could go wrong C
Here’s what happens to the markets after major Middle East events C
The U.S.-Iran Confrontation Has Raised Market Risk. Here Are 3 Ways to Position Your Portfolio. BR
It Was a Lost Decade for China’s Stock Market, but Investors Bet on Better Times Ahead  W

Currencies & commodities
As Negative Yields Ebb, Making Money in Bonds Is Still a Slog  W
Oil Set for Bumpy Week as U.S. Says Iran May Strike Saudi Again B
Gulf markets plunge on U.S.-Iran tensions, Aramco at lowest since IPO R

Central banks
Fed policymakers broadly see eye to eye on 2020 outlook R
Fed Officials Say Rate Policy in Right Place for Now, Downplay Factory Data  W
Fed Minutes Show Comfort With Prolonged Pause on Rates  W
Draghi, Yellen Warn of Risks Facing Policy in Low-Rate World B
Longest Ever Subzero-Rate Experiment Suggests Key Fear Unfounded B
Bernanke: Fed has ample clout to fight downturn if toolkit used properly R
China’s central bank says will keep monetary policy prudent, flexible and appropriate R

US
Did the U.S. Tax Overhaul Do What It Promised?  W

US politics
Lindsey Graham wants to start Trump impeachment trial within days C

Geopolitics & trade
Chinese delegation plans to travel to Washington to sign trade deal: SCMP R
Trade War Dents China’s Attendance at World’s Biggest Electronics Show  W
Iraq voted to expel U.S. Troops, Iran won’t hold uranium limits B
Iraq parliament calls for end of U.S. troop presence after Soleimani death C
Iran condemns Trump as ‘terrorist in a suit’ after attack threat C
Pompeo says US intelligence assessment was clear on Soleimani C

Industries & companies
Autos: Musk’s Moment of Truth Arrives as Made-in-China Teslas Roll Out B
FAANGs: Amazon Has Long Ruled the Cloud. Now It Must Fend Off Rivals.  W
FAANGs: Amazon Is a Free-Cash Rocket Ship. Time to Jump on Board. BR
Restaurants: McDonald’s Looks Beyond Party Culture  W

Corporate finance
Bypassing the Traditional IPO Route May Become More Popular in 2020 BR

Cybersecurity
Iran Latest: Cyber Attack on Sheldon Adelson Provides Lesson B
U.K. Examines if Cyberattack Triggered London Stock Exchange Outage  W

Offbeat
Give Up Facebook for a Month and Help Economists Fix GDP B
U.S. Beef Group Isn’t Happy That Golden Globes Are Going Vegan B
Carlos Ghosn Sneaked Out of Japan in Box Used for Audio Gear  W

YRI
Daily Markets Overview

January 4 (Saturday)

Markets
Dow drops the most in a month after US airstrike on Iran’s top military leader spooks investors C
Here’s what typically happens to the financial markets after major Middle East crisis events C
Oil prices surge to highest level since April after US kills Iran’s top commander in airstrike C

Central banks
Fed policymakers agree rates on hold for ‘a time’ R
Fed officials kick off 2020 with optimistic view of U.S. economy R
Fed Minutes Show Comfort with Prolonged Pause on Rates W

US
U.S. factory sector in deepest slump in more than 10 years R
U.S. Manufacturing Shrinks for Fifth Month W

US politics
U.S. Senate in stalemate over how to proceed with Trump impeachment trial R
Democratic White House contenders condemn Trump’s strike against Iranian commander, warn of war R
Warren’s Fundraising Slipped to $21.2 Million in Fourth Quarter W

Geopolitics & trade
Tensions Rise in the Middle East After U.S. Killing of Iranian Military Leader W
Trump says US does not seek war or regime change in Iran, but is still ready to act if ‘necessary’ C
More Conflict Is Inevitable; War With Iran Isn’t W
US to deploy 3,500 additional troops to the Middle East after Iranian general killed C
‘The puppet master is dead’: Why Iranian Gen. Qasem Soleimani’s killing is such a big deal C
Iran Options Seem Narrow as It Seeks to Avenge Slain General B
Don’t expect Soleimani’s killing to derail trade talks despite China’s warmer relations with Iran C

Industries & companies
Autos: Musk defies skeptics, meets Tesla delivery goal; shares hit record R
Autos: Tesla Appears to Turn a Corner, Lifting Valuation to $80 Billion B
Autos: Car Sales Boom Hit the Brakes in 2019 W
Pharma: FDA’s Deadline Problem? W
Retail: Pier 1 to Shut More Stores, Cut Debt in Expanded Turnaround B

Offbeat
Australia fires kill half a billion animals as crisis mounts C

YRI
Daily Markets Overview

January 3 (Friday)

Markets
Dow jumps 300 points to start 2020, continuing last year’s big rally C
Stocks Set New Highs to Start 2020 W
Wall Street starts 2020 with new records on China stimulus, trade hopes R
The Dollar’s Losses May Just Be Getting Started B
Muni-Bond Shopping Spree Shows No Sign of Stopping W

Global
Manufacturing Shows Stability in U.S., Asia W

Central banks
U.S. Fed buys no mortgage bonds, sells none R

US
U.S. jobless claims edge lower but trend points to uptick in filings R
Competition for housing is so high, the spring market is starting now C
Americans bought fewer new vehicles in 2019, but spending is expected to hit a record $462 billion C
Seattle passed a $15 minimum wage law in 2014. Here’s how it’s turned out so far C
Nine States Face Economic Contraction, Most Since 2009 Crisis B

Europe
UK companies turn a little less gloomy over Brexit impact: BoE survey R
Wanted: Weirdos and misfits – aide to UK’s Johnson is hiring R

US politics
Joe Biden raises $22.7 million in the fourth quarter, lagging Bernie Sanders and Pete Buttigieg C

Geopolitics & trade
U.S. sees signs Iran or proxies may be planning more attacks: Pentagon chief R
Rockets fall on Baghdad International Airport injuring several people: security unit R

Industries & companies
FAANGs: Apple Shares Top $300 Amid Optimism About Holiday Sales B
FAANGs: Google employees are complaining the company has changed — this chart shows one reason why C
FAANGs: Amazon threatens to fire employees who speak out on climate change C
Pharma: Drug Prices Climb by 5.8% on Average, Less Than Last Year W
Retail: Record Pace of Shut Stores Fuels Business for ‘the Closers’ W
Tech: Seeing those opt-out messages about your personal information on websites? Thank California’s new privacy law

Cybersecurity & cryptocurrency
U.S. legislation on spread of cyber tools passes after Reuters investigation R
China’s New Cryptocurrency Could Track Money Flows W

Offbeat
FDA Bars Fruit, Mint Flavors in Vaping Cartridges W
Japanese, Turkish Prosecutors Begin Probes Into Ghosn’s Escape W
Mattel Puts a Lid on Excess Colors W

YRI
Daily Markets Overview

January 2 (Thursday)

Markets
The Bull Market Is Charging Into 2020 W
The Strongest Major Currency This Year Seen Stalling Out in 2020 B
U.S. dollar share of global currency reserves highest for a year in third quarter: IMF data R

Central banks
China’s Monetary Policy Eases Into the New Year W
PBOC Stresses Policy Flexibility as Economic Pressures Persist B
Fed sees small take-up of repo, rates fall for year-end R

US
Jobs and Inflation: The Great Trade-Off, Demystified W
Small business pay checks are growing at a fast pace as job gains slow C

China
Inside China’s Push to Turn Muslim Minorities Into an Army of Workers N

US politics
Giuliani says he’d testify at Trump’s Senate trial C
Pete Buttigieg raised a huge $24.7 million haul in the fourth quarter, campaign says C

Geopolitics & trade
Trump Says He Will Sign Phase-One Trade Deal With China on Jan. 15 W
Tariffs on Chinese Goods Are Skirted by Some U.S. Shoppers W
North Korean leader Kim Jong Un warns of ‘shocking’ action, new strategic weapon C

Industries & companies
Aerospace: Exclusive: Airbus beats goal with 863 jet deliveries in 2019, ousts Boeing from top spot R
Energy: Energy Producers’ New Year’s Resolution: Pay the Tab for the Shale Drilling Bonanza W
Pharma: More drugmakers hike U.S. prices as new year begins R

Offbeat
Ghosn’s Escape From Japan Followed Months of Planning W
Google AI Beats Doctors at Breast Cancer Detection—Sometimes W
A Restaurant With No Leftovers N

YRI
Daily Markets Overview

December 31 (Tuesday)

Markets
Stocks End Day With Push to Gains W
Asia shares struggle to stabilize after punishing week R
The Inverting Yield Curve Is About More Than Recession This Time B
Commodities’ Drop Deepens on Fears Coronavirus Will Dent Chinese Demand W
Coronavirus Spurs Fresh Fears About Growth in Emerging Markets W

Central banks
The World Is the Dog, the Fed Is the Tail W

Virus
WHO declares China coronavirus that’s killed more than 200 a global health emergency C
Trump says coronavirus outbreak is ‘all under control’ and a ‘very small problem’ in US C
Coronavirus live updates: China says death toll hits 213, confirmed cases rise to 9,692 C
Passengers May Leave Italy Ship; Tests Show No Virus Danger  B

US
U.S. Economy Heads Into 2020 With Steady Growth W
U.S. economy misses Trump’s 3% growth target in 2019 R

US politics
Impeachment trial turns to whistleblower ahead of possible weekend finish R

Industries & companies
Airlines: Southwest Failed to Prioritize Safety, Government Says W
Consumer: Maker of Lipton Cools on Tea W
FAANGs: Amazon soars after huge earnings beat C
FAANGs: Amazon holiday sales jump as one-day shipping pays dividends, stock up 13% R
FAANGs: AWS generated revenue of $9.95 billion in Q4, up 34% from a year ago C
FAANGs: Jeff Bezos’ net worth jumps by over $12 billion after Amazon’s big quarter C
Financials: Deutsche Bank Posts Big Loss as Overhaul Bites W
Financials: Visa Posts Record Profit on Higher Spending W
Financials: U.S. banks could invest in venture capital funds again under ‘Volcker rewrite’ R
Media: Star Wars Game Helps Lift Sales, Profit at Electronic Arts W
Tech: IBM’s Ginni Rometty Steps Down as CEO W
Wireless: Verizon Adds Wireless Users, Takes Another Hit on Yahoo Unit W

Corporate finance
Reynolds Raises $1.2 Billion in Top IPO by Household Goods Maker B

YRI
Daily Markets Overview

December 30 (Monday)

A 10% to 20% pullback could strike stocks early next year, long-time bull Ed Yardeni warns C
The Dow Is Closing Out 2019 With a Bang. Good Luck in 2020. BR
Key reports to watch for this week as the S&P aims for its best year in 2 decades C
Fight for Market Share Gives Bond Issuers Pick of Ratings W

Markets II
European Hedge Funds Caught Out by Bull Run in Stocks W
Emerging Market Stocks Had a Dismal Decade. Where to Look for Growth Going Forward. BR

Central banks
Trading a Dove for Two Hawks: A Look at the Fed’s 2020 Voters B
The Bedrock of Ultra-Low Yields Is at Risk B

US
How the Affordable Care Act transformed our health-care system C

Europe
‘Japanification’ Haunts Slow-Growth Europe W

China
In China’s Crackdown on Muslims, Children Have Not Been Spared N

Geopolitics & trade
China commerce ministry says it has proactively dealt with U.S. trade frictions R
Kim May Have Reconsidered His ‘Christmas Gift,’ Trump Aide Says B
All the missiles and nukes North Korea has tested in one chart C
US carries out ‘precision defensive strikes’ in Iraq and Syria against Iranian-backed militia C

Industries & companies
Media: 2019 US box office projected for $11.4 billion in ticket sales, second-highest of all time C
Media: Disney accounted for nearly 40% of the 2019 US box office C
Media: ‘Star Wars: The Rise of Skywalker’ Leads Final Weekend of 2019 B
Pharma: Chinese Alzheimer’s Drug to Launch Global Trials Amid Skepticism B
Pharma: Pharma Companies Are Rushing to Treat a Little-Known Liver Disease. Investors Should Be Skeptical. BR
Tech: Chip-Equipment Stock Applied Materials Is Not as Cheap—but Still a Buy BR
Utilities: PG&E: Wired to Fail W

Corporate finance
Fewer Companies Merged in 2019. Just Don’t Call It a Bad Year. BR

Offbeat
The 2020s Will Bring Great Change. We May Not Be Ready. BR
The CBC’s Cut of a Scene From ‘Home Alone 2’ Draws the Trumps’ Ire N
WeWork Exit Packages Include $17 Million to Co-CEOs, FT Reports B

YRI
Daily Markets Overview

December 28 (Saturday)

Markets
Dow Industrials Inch Ahead to Record W
S&P 500 notches fifth straight week of gains as market rallies into end of 2019 C
Here’s how a bull market scrambled seasonal trends in 2019 C
Recession, robots and rockets: another roaring 20s for world markets? C
U.S. energy shareholders seek to leave behind a lost decade R

Credit
Mortgage Bonds Attract Investors in Low-Yield World W
Leveraged-Loan Downgrades Signal Financial Cracks W

Central banks
Four New Voters to Join Fed’s Rate-Setting Panel W
ECB’s Holzmann: Return to positive interest rates in 2020 unlikely R

US
Workers Get Bigger Raises as Labor Market Tightens W

China
China’s industrial profits grow at fastest in eight months, but sustained recovery uncertain R
Bills Come Due for China’s Local Governments W

US politics
Super Saturday sales the latest sign Trump’s economy is unstoppable P
Elizabeth Warren’s campaign sounds the alarm as fundraising slows about 30% in fourth quarter C
Spotify to Suspend Political Advertising W

Geopolitics & trade
‘Hong Kong’s Not Right.’ Protests Upend Life in a City on Edge. W
Russia claims its new hypersonic weapon is ready for war C

Industries & companies
FAANGs: Apple Sued by New York Doctor Over Watch’s Heart Technology B
Financials: Banks Set for Biggest Job Cull Since 2015 as Morgan Stanley Cuts B
Retail: Holidays Cheer Amazon, Tiffany W

Corporate finance
Microsoft paid $26 billion for LinkedIn, then mostly left it alone—CEO Jeff Weiner is good with that C
Investors Push Tech Startups for Profits, Not Just Customers W

Offbeat
More Investment Managers Are Helping Those Betting Against Them W
Boomer or Bust? Europe’s Aging Entrepreneurs Cling to Power. W

YRI
Daily Markets Overview

December 27 (Friday)

Markets
U.S. Stocks Climb to Highs W
Trump stock market rally is far outpacing past US presidents C
Dow’s ‘Dogs’ Lag Behind a Hot Market W
Nasdaq hits 9,000 for the first time, S&P 500 reaches all-time high in year-end rally C
Emerging market stocks were laggards in the past decade R
The Corporate Bond Market’s $100 Billion Buyer Is Here to Stay B
Distressed-Asset Hedge Funds Run Into Trouble W

Central banks
U.S. Fed buys $825 million of mortgage bonds, sells none R
Fed’s U-Turn on Assets Faces Test W
Fed May Be Quietly Masking Extent of Efforts to Calm Repo Market B
Repo Fix Requires Wall Street, Fed Collaboration W

US
U.S. Durable Goods Orders Fell in November W

China
State Support Helped Fuel Huawei’s Global Rise W
In Tougher Times, China Falls Back on Coal W

US politics
McConnell, Schumer Lay Out Dueling Visions for Senate Impeachment Trial W
Leading Republican senator says impeachment witnesses not ruled out R
Judiciary panel says it could draft ‘new articles of impeachment’ against Trump C

Geopolitics & trade
China commerce ministry says in close touch with U.S. on signing trade deal R
China to Cut Tariffs on Range of Goods Amid Push for Trade Deal W
Trade-Court Lawsuits Take On Trump’s Tariff Effort W
Trump’s Mexican cartel policy creates dissent among Cabinet R
Christmas passes with no ‘gift’ from North Korea, but US officials are on alert NN
Saudi Arabia sentences five to death over Khashoggi murder, U.N. official decries ‘mockery’ R

Industries & companies
Aerospace: Boeing CEO Pushed Out as Company Reels From 737 MAX Debacle W
Aerospace: New Boeing CEO David Calhoun Faces Daunting Tasks After 737 Max B
Airlines: US airlines are set for a 10th year of profits. More than 120,000 employees want a raise C
Autos: SEC Investigating BMW Over Sales Practices W
Autos: Automakers cut jobs, close factories to save billions in 2019 C
Energy: Big Investors Showing Love to Gas Fields Others Shun W
FAANGs: Amazon Says Holiday Business Hit New Highs W
FAANGs: Apple Extends Rally, Solidifying 2019 as Best Year in a Decade B
Financials: U.S. Banks Rally as Holiday Shopping Signals More Consumer Cheer B
Financials: Eleven Years in the Making: Breaking Even on JPMorgan’s Purchase of Bear Stearns W
Pharma: Spectrum Pharmaceuticals Shares Plunge on Cancer-Drug Results W
Pharma: Drugmakers Turn to Data Mining to Avoid Expensive, Lengthy Drug Trials W
Retail: Holiday season package returns to hit a record high, says UPS R
Retail: Super Saturday Shopping Sets One-Day Sales Record, Analyst Says B
Tech: Tech Giants Hunt for AI Startups—and the Brains Behind Them W

Corporate finance
Tesla Shares Race Past $420 Buyout Figure W
Musk Finds Humor in Tesla’s $420 Stock Getting ‘So High’ B
Electric vehicle startup Rivian scores $1.3 billion investment from T.Rowe Price, others R
Deutsche Telekom Weighed T-Mobile-Comcast Merger in 2015 B

Offbeat
Walmart, Target Embrace 8-Year-Old YouTube Influencer’s Brand W
New rule would make it possible to track and identify nearly all drones flying in the U.S. C
Shooting, Sex Crime and Theft: Airbnb Takes Halting Steps to Protect its Users W

YRI
Daily Markets Overview

December 23 (Monday)

Markets
The S&P Heading for Best Year Since 2013. What Fueled the Rally. BR
Wall Street Week Ahead: History suggests rally may slow for U.S. stocks in 2020 R
Investors may be overly complacent about the 2020 outlook NN
The Decade of Dividends: Income Stocks Fed Yield-Hungry Investors in a Low-Rate Era BR

Commodities
America is now the world’s top oil producer, but cracks are emerging NN
Oil’s 2019 Milestones Tell Decade’s Story of Energy Abundance B
Commodities Had a Great Year. Why Palladium Led the Way BR
Banks Get Tough on Shale Loans as Fracking Forecasts Flop W

Central banks
Our Guide to What the World’s Top Central Banks Will Do Next Year B
Do Negative Rates Work? Yes, but Not by Much W
Repo Market News: Fed Is Entrenched. How Does It Get Out? B

US
The Economy, 2019: A Microcosm of a Decade in Which Growth Was Slow and Market Gains Fast BR

China
China to Further Open Up Industries, Ease Burden for Companies B
Inside China’s plan to become the world’s leading economy C
China should step up regulation of artificial intelligence in finance, think tank says R

Emerging
Modi Defends India’s New Citizenship Law as Protests Persist W

US politics
Pelosi’s Delay in Sending Impeachment Articles Stirs Sparring B
Trump Asked About Ukraine Aid Before July Zelenskiy Call B
Newly released emails offer more details in timeline of pause to Ukraine aid NN
Battles lines harden over Trump impeachment trial witnesses R
Trump gains support among millionaires, CNBC survey finds C

Geopolitics & trade
In the Battles Over Trump’s Trade Wars, Hawkish Adviser Navarro Endures W
President Xi Jinping praised Macao this week, but Hong Kong still has the financial clout NN
Clashes as police try to clear Hong Kong protesters after Uighur support rally R

Industries & companies
Aerospace: ‘Bull’s-eye’ landing caps Boeing’s faulty astronaut capsule test mission R
Autos: Tesla’s Soaring Stock Crushes Short Sellers BR
Autos: Tesla’s topsy turvy 2019 NN
Industrials: Options Traders Are Betting Heavily on GE’s Rebound BR
Media: ‘Rise of Skywalker’ debuts at $374 million, below recent ‘Star Wars’ films R
REITs: Brookfield’s Bet on Malls Looks Riskier than Ever W
Retail: Walmart’s Secret Weapon to Fight Off Amazon: The Supercenter W
Tech: Industry of the decade: Chipmakers C
Tech: Uber co-founder Travis Kalanick is on pace to sell his entire stake C

Corporate finance
Aramco Stocks Give Up About Half of Gains Since Debut: Inside EM B
2019 Was a Strong Year for IPOs, Even Without WeWork BR

Technology
How AI ruled our lives over the past decade NN
Stock-Trading Computers Profit on Human Errors. How to Fight Back. BR

Offbeat
Move Over, Santa! Kids Are Asking Alexa to Bring Them Presents W
Now fake Facebook accounts are using fake faces NN
Master Stockpicker Peter Lynch: If You Only Invest in an Index, You’ll Never Beat It BR

YRI
Daily Markets Overview