Dr. Ed's Blog

November 28 (Thursday)

Markets & investing
Blackstone’s Byron Wien says stocks have ‘room to move up’ and this is ‘nothing like 2006 or 1999’ C
Don’t Expect Another Rough December for Stocks W
Texas Oil Explorers Say Predictions of Growth Contradict Dire Reality B
Bitcoin Going Berserk in November Makes Holidays Awkward B

US
Economy growing better than economists had expected just a few weeks ago C
Fed Report Says Economy Grew Modestly With Outlook Positive B
U.S. Consumer Spending Rose 0.3% in October W
Blue states file appeal in legal battle over SALT tax deductions C

Europe
UK PM Johnson on course to win majority of 68: YouGov model R

China
No excuse for silence on China’s camps for Uighurs: exiled leader R
TikTok Blocks Teen Who Posted About China’s Detention Camps N
How Hong Kong’s greatest tycoon went from friend of China to punching bag R

US politics
Justice Department asks appeals court to block McGahn impeachment testimony C
Trump denies sending Rudy Giuliani to Ukraine to push Biden, election probes C
Bloomberg is crushing all other 2020 Democrats with his ad spending in Super Tuesday states C

Global unrest
It’s Getting More Expensive to Eat, and Economists Are Worried B
In Latin America, Pot-Banging Signals Trouble for Those in Power W
Violence in Chile resurges, peso plunges to historic low R
Iraq protesters torch Iran consulate in Najaf, curfew imposed R
Fears of violence grow as Lebanese crisis deepens R

Industries & companies
Aerospace: FAA tightens grip on Boeing with plan to individually review each new 737 Max jetliner C
FAANGs: Apple is reportedly planning to shake up its iPhone sizes in 2020, including its biggest screen yet C
Food: America’s Cattle Ranchers Are Fighting Back Against Fake Meat W
Finance: Robinhood pulls bank charter application as fintechs face hurdles to disrupting financial system C
Financials: In Deutsche Bank’s Giant Yard Sale, Goldman Is Eager Buyer B
Retail: Top U.S. retailers absorb tariff pressure ahead of holiday shopping season R
Retail: Toys R Us is back. Here’s a look inside its first new store C
Tech: Intel chip shortage is pulling down PC makers’ revenue expectations C
Tech: Blockchain, 3-D Printing Combine to Make Aircraft Parts W
Weed: FDA Warns of Potential Harm From CBD Products W

Offbeat
Everything you need to know to help save on taxes in 2020  C
Widespread snow, storms create Thanksgiving travel headaches across U.S. R
Giuliani calls Trump to tell him he was joking about having an ‘insurance policy’ R

YRI
Daily Markets Overview

November 26 (Tuesday)

Markets & investing
S&P 500, Nasdaq hit new highs as chips rally on trade optimism R
Stocks Are Finally Diverging After Trading in Tandem W
Goldman says political gridlock to propel stocks in 2020: ‘United we fall, divided we rise’ C
Bitcoin sinks to lowest level since May, falling $3,000 in a month as China accelerates crackdown C

Central banks
Fed economists warn of ‘economic ruin’ if Modern Monetary Theory policies are ever adopted C
ECB has made government borrowing 1 percentage point cheaper: Lane R

US
A Booming Corner of Private Credit Has Some Investors on Edge B

Europe
European Companies Hunt for Growth With $53 Billion Acquisition Spree B
Britain is a dangerous mess, former PM Blair says R
Socialist Group Works to Pull U.K. Labour Party Leftward W

China
Landslide democratic win puts pressure on leader of Chinese-ruled Hong Kong R
Going whole hog: U.S. tells exporters to report pig carcass sales as China buying soars R

US politics
On Trump impeachment, divisions between urban and rural Democrats R

Geopolitics & trade
China and U.S. moving closer to trade deal, but no agreement on tariff rollbacks: report R
Iran stages pro-government rallies after days of violent unrest R
Special Report: ‘Time to take out our swords’ – Inside Iran’s plot to attack Saudi Arabia R
Saudi Arabia Arrests More Opponents Despite Sensitivity Amid IPO Push W

Industries & companies
Auto: Elon Musk says Tesla has received 200,000 orders for its Cybertruck despite botched debut C
Financials: Charles Schwab to buy TD Ameritrade in a $26 billion all-stock deal C
Pharma: Teva, Drugmakers in Talks With U.S. to End Generics Probes B

Corporate finance
EBay to sell ticketing unit StubHub for $4.05 billion R
LVMH Bets It Can Restore Tiffany’s Shine With $16 Billion Deal W

Offbeat
‘China is the enemy’ on trade, not Trump — Cramer blasts media over love of Chinese leader Xi C
Israeli attorney-general declines to recommend Netanyahu step aside R
Trump Meets Conan, Military Dog Wounded in al-Baghdadi Raid B

YRI
Daily Markets Overview

November 25 (Monday)

Markets & investing
Wall Street Weekahead: Conditions may be set for Santa Claus rally R
Wall Street’s stock forecasters see just a 5% gain in 2020 C
Wall Street strategists cool on tech stocks, recommend steady income of financials for 2020 C
Investors are left to wonder if the stock market rally is resting or rolling over C
A Bear Market Could Still Hit Next Year. Here’s How to Prepare. BR
World’s largest hedge fund is reportedly betting on a sell-off, but founder Ray Dalio denies it C

US
California’s Housing Crunch is Pushing Developers Deeper into Dangerous Fire Zones B

China
‘Time to calm down’: Hong Kong protests simmer ahead of local elections R

US politics
U.S. Republican senators ask Treasury for any reports on Hunter Biden R
A Senate Trial Could Put Trump’s Use of Aggressive Defense Tactics to Their Biggest Test N
Trump accuses impeachment witness of lying, defends use of Giuliani R
Russia Inquiry Review Is Said to Criticize F.B.I. but Rebuff Claims of Biased Acts N
Bloomberg vows to refuse donations and presidential salary C

Geopolitics & trade
US wants China trade deal but won’t turn blind eye to Hong Kong, Trump national security advisor says C
China attacks US at G20 as the world’s biggest source of instability C

Around the world
The Common Forces Propelling the New Popular Revolts W
Iran faces its most critical moment since the 1979 Revolution C
All King Bibi’s men: Netanyahu’s inner circle key to criminal cases R
Colombian protests roll on for third day amid tear gas, injury R
On Iraq visit, Pence reassures Kurds and discusses protests with prime minister R
Tens of thousands march in France to condemn domestic violence R

Industries & companies
Autos: Elon Musk says Tesla has received 146,000 orders for its Cybertruck after botched debut C
Energy: Winter Is Coming. But Natural Gas Prices Are Sliding, Even With an Arctic Blast BR
Financials: Charles Schwab Stock Could Surge After a TD Ameritrade Deal BR
Pharma: Pfizer Is the Dow’s Worst Stock. A New Strategy Makes It Worth Another Look. BR
Retail: Kohl’s Stock Is in a Bad State. This Strategy Will Let the Market Pay You to Buy It. BR
Retail: Home Depot’s Soft Outlook Isn’t a Sign of Recession. Here’s Why. BR
Retail: In a Class By Itself: How Target Became the Model in U.S. Retail B

Corporate finance
Novartis nears deal to buy U.S. biotech firm Medicines Co for about $7 billion: WSJ R

Offbeat
Giuliani Says Biden Documents to Be Released ‘If I Disappear’ B

YRI
Daily Markets Overview

November 23 (Saturday)

Markets & investing
World’s largest hedge fund reportedly bets over $1 billion on a big stock market sell-off soon C
Here are the energy stocks some strategists would buy as the S&P’s worst-performing sector catches a bid C
Slowing Business Activity Sounds Alarm for Global Economy W

Central banks
Weidmann Says He Backs Lagarde Plan for ECB Strategy Review B
Trump’s Fed Pick Judy Shelton Cast Doubt on Central Bank Independence B
Democratic Senators Want the Fed to Better Prepare Banks for Climate Change W

US
U.S. manufacturing, services sector PMIs improve in November MW
US consumer sentiment comes in higher than expected for November C
Lenders Brace for Private-Equity Loan Defaults W

Europe
Eurozone flash manufacturing PMI limps up to 3-month high in November MW
Germany’s PMI Slide Eases Slightly in November N
Germany’s finance minister is not expecting a recession R

Japan
Japan November factory activity shrinks for seventh month, increases economic strains: flash PMI R

China
China Is Out of Economic Ammo Against the U.S. B

US politics
Trump predicts report on origins of Russia probe will be ‘historic’ R
Trump says will stick with Vice President Pence as 2020 running mate R
Trump says had lawyer Giuliani work on Ukraine because he is a ‘great crime fighter’ R

Geopolitics & trade
Trump says trade deal with China is ‘very close’ C
China’s Xi says he wants to work out initial trade deal with U.S. R
Weeks before vote, Algerian protesters pile on the pressure R
Iraqi forces kill four protesters, cleric warns of crisis R
‘Give and Take’: the charges against Israel’s Netanyahu R

Industries & companies
Aerospace: Aerospace suppliers prepare for prolonged grounding of 737 MAX R
Autos: Tesla claimed its pickup truck was ‘bulletproof’ — then smashed its windows with a metal ball C
Energy: U.S. Silica cuts 10% of workforce as frac sand demand wanes R
FAANGs: A Billion People’s Data Left Unprotected on Google Cloud Server B
Pharma: AstraZeneca shares rise on early U.S. approval for leukemia drug R
Retail: Inside Home Depot’s efforts to stop a growing theft problem at its stores C
Retail: Walmart’s Jet to Cease Its New York City Fresh Grocery Business B

Offbeat
The 10 most expensive US ZIP codes for buying a home C
Los Angeles Condo Sales Plunge as Chinese Capital Stays at Home B
Pope says tech, globalization endanger youth individuality R
‘Sopranos’ Convention Treats Fans Like Family W

YRI
Daily Markets Overview

November 22 (Friday)

Markets & investing
Joy Replaces Gloom Among Global Investors as Recession Risk Fades B

Central banks
How the Discount Window Became a Pain in the Repo Market W

US
U.S. States Boost Spending at Fastest Pace Since Recession B
Janet Yellen says ‘there is good reason to worry’ about the US economy sliding into recession C
Frozen in Place: Americans Are Moving at the Lowest Rate on Record N

US politics
How does impeachment of a U.S. president work? R
Billionaire Michael Bloomberg files paperwork to run for U.S. president R

Geopolitics & trade
China’s Top Negotiator ‘Cautiously Optimistic’ About Reaching Trade Deal B
Trump Expected to Sign Hong Kong Bill Despite China Threats B
House Dems, Trump administration fail to reach deal on USMCA trade agreement C
U.S. senators urge Trump administration to halt Huawei license approvals R
Colombians march as government warns against violence R

Industries & companies
Financials: Schwab’s zero fee trading kicked off a price war and could pay off with the deal of a lifetime C
Financials: Schwab Seizes on Industry Turmoil With Plan to Buy TD Ameritrade B
Retail: Nordstrom shares jump 10% after earnings beat estimates C
Retail: Gap shares rise on earnings, sales beat; retailer says making ‘progress’ on split C

Corporate finance
Taking Walgreens Private for $70 Billion Is Pricey Even for KKR B
Xerox Threatens to Go Hostile With HP Takeover Bid W
WeWork to lay off 2,400 employees in SoftBank revamp R

Offbeat
Benjamin Netanyahu to Face Trial on Charges of Bribery and Fraud B
Shifting asylum ‘burden’: U.S. sends Guatemala first Honduran migrant R

YRI
Daily Markets Overview

November 21 (Thursday)

Markets & investing
Markets more fearful about trade war, but still see chance for phase one deal and tariff rollback C

Central banks
Fed Fretted About Economic Risk While Shifting From Cuts to Hold B
The Fed is looking at a ‘standing repo’ operation to handle overnight funding issues C

Emerging
Colombia Girds for Mass Protests, With an Eye Toward Chile’s Instability W
Iran Says It Has Contained Antigovernment Protests, but Tensions Continue W

US politics
U.S. diplomat says top levels of Trump administration in on Ukraine pressure R
I want nothing!’ — Trump denies key impeachment witness Gordon Sondland’s claim there was a Ukraine ‘quid pro quo’ C
Defense Dept official says she never discussed Ukraine aid with Trump R
Amid impeachment drama, Senate helps Trump move U.S. courts to the right R

Geopolitics & trade
Congress passes Hong Kong rights bill as Trump tries to strike China trade deal C
Ukraine widens probe against Burisma founder to embezzlement of state funds R
Trump considering withdrawing up to 4,000 U.S. troops from South Korea: report R

Industries & companies
Aerospace: Boeing Loses Crucial Orders for New 777X Jet From Emirates W
Autos: Tesla and Uber draw scrutiny at Senate hearing on self-driving cars: ‘That’s not safe!’ C
FAANGs: Apple CEO Tim Cook and President Trump toured a Texas computer factory to tout US manufacturing C
FAANGs: U.S. lawmakers question Google about collection of health records R
Media: Disney+ review: Great content at a fair price, but it could use a few tweaks C
Retail: Target’s apparel sales are on fire. And that’s bad news for everyone else C
Tech: Intel says chip supply for personal computers remains tight R

Offbeat
House committee approves landmark bill legalizing marijuana at the federal level C
Britain’s Prince Andrew halts public duties over sex scandal R
Facing Real Estate Slowdown, Jeff Greene Regrets Building His Megamansion W

YRI
Daily Markets Overview

November 20 (Wednesday)

Markets & investing
Bulletproof stock market shakes off negative trade headlines and keeps marching to records C
Technology Stocks Head Toward Best Year Since 2009 C

Central banks
Fed’s Williams Is Eyeing Downside Risks Despite Solid Outlook B

US
Visa CEO Says Consumers Still Swiping Despite Recession Fears B
Retailer Results Send Mixed Signals on Consumer Spending W

Europe
Silicon Valley’s Biggest Foe Is Getting Even Tougher N

China
Pence Warns Trade Deal ‘Very Hard’ If Hong Kong Uses Violence B

US politics
Here’s where the unemployment rate stands in the states that will decide Trump’s 2020 fate C
Wall Street execs line up behind Mike Bloomberg–which could hurt fundraising for Biden, others C
White House expert tells hearing that Trump made improper ‘demand’ of Ukraine R

Geopolitics & trade
Trump threatens higher tariffs if China doesn’t make a trade deal C
U.S. support for Israeli settlements renews focus on core issue in Mideast conflict R
Iranian Protests Leave at Least 106 People Dead, Amnesty Reports B
In Golan Heights, Israel Intercepts Rockets From Syria W
The Iran Cables: Secret Documents Show How Tehran Wields Power in Iraq N

Industries & companies
Aerospace: NTSB calls on Boeing to redesign 737s after deadly 2018 Southwest accident C
Autos: Mustang Mach-E: Five things to know about Ford’s first all-electric SUV C
FAANGs: Google, Facebook, Amazon and Apple offer defense in congressional antitrust probe R
Health Care: Crispr Analysts Dazzled as Early Data Herald New Treatment Era B
Retailing: Kohl’s shares tank on earnings miss, retailer cuts fiscal 2019 earnings outlook C
Retailing: Walmart CEO Doug McMillon: ‘We could go away at any minute’ C
Retailing: Don’t Read Too Much Into Home Depot’s Earnings B

Offbeat
Two jail guards for Jeffrey Epstein charged with coverup in his suicide R
Fisher Investments loses Chicago police pension; total losses exceed $3 billion C
Sweden drops Assange rape investigation after nearly 10 years R
David Rosenberg to Leave Gluskin Sheff to Start Research Firm B

YRI
Daily Markets Overview

November 19 (Tuesday)

Markets & investing
Goldman sees the economy surprising in 2020 and these stocks benefiting most from the rebound C
Value Stocks Are Back in Vogue, for Now W

Central banks
The Fed is on hold for now, but it might not take much to change that C
Trump, Powell met Monday at White House to discuss economy R
Fistful of Fed Liquidity May Spell Trouble for Almighty Dollar B
End of Line for BOJ Leaves Kuroda Talking Up Fiscal Firepower B

US
White House indicates support for stop-gap bill to avoid government shutdown: McConnell R

Emerging
Unequal and Irate, Latin America Is Coming Apart at the Seams B

China
China’s Local Governments Now Guarantee $842 Billion of Credit B
TikTok Looking at Ways to Shake Off Its Ties to China W

US politics
Trump says he will ‘strongly consider’ testifying in impeachment inquiry R
U.S. Supreme Court puts temporary hold on Trump financial records fight R
Warren Calls Out Blackstone for ‘Shameless’ Profits From Housing B

Geopolitics & trade
U.S. grants Huawei new 90-day license extension R
Iran’s Guards warn of ‘decisive’ action if unrest continues R
North Korea Rebuffs Latest Trump Advance W

Industries & companies
Autos: Forget ‘Ford v Ferrari,’ the Mustang Mach-E takes a shot at Tesla C
Autos: California to stop buying GM, Toyota and Fiat Chrysler vehicles over emissions fight R
Energy: The world is getting windier and it could mean a big boost for alternative energy C
FAANGs:  Amazon offers free music streaming service; rival Spotify slips R
Weed: Pot Stock Hits Keep Coming as Biden Knocks Weed Ahead of Meeting B

Offbeat
Jeopardy! to host a ‘Greatest of All Time’ tournament with a $1 million prize C
Fallout from Prince Andrew’s interview on Jeffrey Epstein: Corporate sponsors drop or put royal’s entrepreneurship project on review C

YRI
Daily Markets Overview

November 18 (Monday)

Markets & investing
Next Stop: Dow 30,000? It Could Happen. BR
The Turmoil in Hong Kong Could Threaten the Stock Market Rally. Here’s How. BR
Quality Stocks Are Winning This Year. But They Might Be Too Expensive Now. BR
ESG index funds are hot. That may be a risky thing for investors C

Central banks
How a Shift in the Fed’s Inflation Policy Could Affect Bond Investors BR

Emerging
Brazil’s Bad News May Be a Buying Opportunity for Investors BR

China
‘Absolutely No Mercy’: Leaked Files Expose How China Organized Mass Detentions of Muslims N
Hong Kong police threaten to use live bullets as standoff with protesters escalates C

US politics
Bloomberg apologizes for ‘stop and frisk’ police practice C
Buttigieg tops new Iowa poll of Democratic presidential hopefuls C
Democrats hold on to Louisiana governor’s seat despite Trump C
White House confirms Trump will visit Apple’s manufacturing plant in Austin C
Trump hails ‘cash’ to farmers, U.S. aid in China trade war R

Impeachment
In Prime Time, Two Versions of Impeachment for a Divided Nation N
The first week of public impeachment hearings just wrapped up. Here are the main takeaways C
Pelosi says Trump’s actions are worse than Richard Nixon’s, suggests he should resign C

Geopolitics & trade
China and US had ‘constructive discussions’ about phase-one trade deal, state media says C
U.S. to extend license for its companies to continue business with Huawei: sources R
Lebanon slips deeper into crisis after Safadi withdrawal R
Russia says it will return captured naval ships to Ukraine on Monday R
Iran’s Khamenei backs fuel price hike, blames ‘sabotage’ for unrest R

Industries & companies
FAANGs: Some Fitbit users say they’re getting rid of the devices because they don’t trust Google C
Financials: So Much for Big Tech’s Banking Aspirations BR
Health Care: Medtronic Stock Could Rise Even More on Plans to Sell a Lot More Pacemakers BR

Corporate finance
Saudi Aramco’s IPO is set to value the oil giant at up to $1.7 trillion C
HP board unanimously rejects Xerox’s bid to acquire the company C
Why Now, and Why Hong Kong, for Alibaba’s Share Sale? B

Offbeat
California’s Sonoma wine country reckons with wildfire damage to tourism economy C
Venice hit by another exceptional high tide; worst week in 150 years R
Bargain Hunters Rule the Art Market W
What It’s Like to Retire Abroad W
Prince Andrew Bombs in BBC Interview, Creating PR Disaster B

YRI
Daily Markets Overview

November 16 (Saturday)

YRI
Exposing the Big Lie About Stock Buybacks  (video)
Daily Markets Overview

Markets
Dow jumps more than 200 points to 28,000, posts 4-week winning streak C

Central banks
Fed Warns Prolonged Low Interest Rates Could Spark Instability B
New York Fed’s Williams Backs Keeping Rates Steady W

US
U.S. Retail Sales Rebounded in October W
U.S. to begin second round of trade aid payments for farmers next week R

Emerging
Chile’s stock market jumps on plans to dump dictatorship-era constitution R
Brazil’s Reform Agenda Is Moving Forward, House Speaker Says B
Bolivia kicks out Cubans, Venezuelans for allegedly fueling unrest R

US politics
Trump asks Supreme Court to block another subpoena for his tax returns — this one is from Congress C
Trump criticizes Roger Stone guilty verdict, suggests Hillary Clinton and Robert Mueller should be prosecuted C
Alexandria Ocasio-Cortez Plans Bill to Boost Top Individual Tax Rate to 59% B
Elizabeth Warren’s Tax Plan Would Bring Rates Over 100% for Some W

Impeachment
The first week of public impeachment hearings just wrapped up. Here are the main takeaways C
Pelosi says Trump has admitted to bribery as impeachment probe intensifies R

Geopolitics & trade
The 11-Year-Old Dissident: Hong Kong’s Schoolchildren Fuel Protests W

Industries & companies
Aerospace: U.S. FAA regulator head tells team to ‘take whatever time needed’ on 737 MAX R
Autos: California Sues Trump EPA in Fight Over Green Auto Rules B
FAANGs: Amazon adds new ‘Amazon Pharmacy’ branding to PillPack and promotes its CEO C
FAANGs: Amazon challenges Pentagon’s $10-billion cloud award to Microsoft R
FAANGs: Google will no longer hold weekly all-hands meetings amid growing workplace tensions C
Pharma: Oklahoma judge reduces Johnson & Johnson opioid payout to $465 million R
Tech: Building a Lithium-Ion Battery That Won’t Explode B

Corporate finance
Bristol-Myers Squibb wins antitrust approval to buy Celgene, but must divest psoriasis drug R

Offbeat
Warren Buffett has been on a bit of a cold streak, but that might be over as bank stocks rebound C
U.S. lawmakers agree on bill to fight ‘robocall epidemic’ R