Dr. Ed's Blog

October 23 (Wednesday)

Markets
Stocks Tick Lower Amid Slew of Corporate Results (W)
The Stealthy Bear Stalking the Dow (W)

Central banks
Fed Adds Temporary And Permanent Liquidity To Financial System Tuesday (W)

US
Housing Market Stalls in September (W)
U.S. companies facing worker shortage race to automate (R)
Wave of Financial Stress Hits Low-Rated Companies (W)

Europe
EU moves towards Brexit delay as PM Johnson seeks election to break impasse (R)

US politics
Trump’s Rallies Aren’t a Sideshow. They Are the Campaign. (W)
U.S. diplomat testifies Trump tied Ukraine aid to politically motivated probes (R)
Exclusive: Trump’s G7 and trade adviser Kelly Ann Shaw to leave White House – officials (R)

Geopolitics & trade
Beijing reportedly developing plan to replace Hong Kong’s leader by March (C)

Industries & companies
Consumer: P&G Posts Strong Sales Gains (W)
Consumer: J&J CEO testified Baby Powder was safe 13 days before FDA bombshell (R)
Media: Verizon to Offer Free Disney+ as Streaming Wars Heat Up (W)
Pharma: How Biogen Salvaged Alzheimer’s Drug After a Costly Failure (B)
Restaurants: Chipotle crushes earnings estimates, says accelerated drive-thru plans may delay some store openings (C)
Retail: Nike Chief Mark Parker to Step Down in 2020 (W)

Corporate finance
WeWork’s $47 billion valuation was always a fiction created by SoftBank (C)

Technology
Google Pixel 4 Review: The Smartest Smartphone You Probably Won’t Buy (W)

October 22 (Tuesday)

Markets
U.S. Stocks Climb to Start a Busy Week of Earnings (W)
This Year’s Hottest Trade: Buying Everything (W)

US
Falling profit margins raise some alarm: ‘It can be a precursor to layoffs and a recession’ (C)
Analysts Are Taking a Knife to Their 2020 Profit Estimates (B)
How Exploding Private Sector Balance Sheets Have Changed Recessions As We Know Them (B)

Europe
U.K. Parliament Set to Vote on Brexit Deal, After Second Attempt Fails (W)

Middle East
Israel’s Netanyahu Fails to Form New Government (W)

US politics
Democrats’ wealth tax plans should give Wall Street ‘lots to worry about,’ economist says (C)
Warren Would Use Wealth Tax to Fund $800 Billion Education Plan (W)

Geopolitics & trade
Trump Says China Signals Trade Talks on Target for November Deal (B)
Trump Calls for Defense, Use of Syrian Oil Fields (W)
Lagarde Says U.S. Is at Risk of Losing Global Leader Role (W)

Industries & companies
FAANGs: Apple is on fire and helping the chip stocks rally, Jim Cramer says (C)
Financials: JP Morgan is at risk of losing big on its WeWork bet, a major potential blow to CEO Jamie Dimon (C)
Retail: Destination Maternity Goes Bankrupt, Adding to Retail Apocalypse (B)

Corporate finance
WeWork’s Valuation Falls to $8 Billion Under SoftBank Rescue Offer (W)

Offbeat
Taxing the Rich to Fund Welfare Is the Nobel Winner’s Growth Mantra (B)
Islamic State Turns to Teen-Friendly TikTok: Jihad With Pink Hearts (W)

October 21 (Monday)

Markets
Stocks will likely hit new records in the week ahead if earnings keep topping expectations (C)
Dividend Stocks Have Been Shooting Out the Lights. Don’t Count on It Lasting for Long. (BR)
U.S. Companies Can’t Buck a Strong Dollar (W)
Sterling falls after UK lawmakers delay key Brexit vote (C)
Ratings Firms Give Companies More Breathing Room (W)

US
Robert Shiller: Recession likely years away due to bullish Trump effect (C)

Europe
Johnson Prepares to Put Brexit Deal to Vote After Foiled First Try (W)

US politics
Trump chief of staff Mick Mulvaney says he isn’t considering resigning after walking back quid pro quo claim (C)
Key incumbents are losing the money battle as 2020′s top Senate races heat up (C)
Bernie Sanders Returns to Trail With Fresh Endorsements, Challenges (W)
Germany’s Labor System Would Be Difficult to Import to U.S. (W)

Geopolitics & trade
Hong Kong Protests Rage Despite New Effort to Calm Unrest (W)
U.S. Government Still Uses Suspect Chinese Cameras (W)

Industries & companies
Aerospace: Boeing survey showed that employees felt pressure from managers on safety approvals (C)
Aerospace: Congress Ramps Up Scrutiny of Boeing Executives, Board (W)
Energy: ConocoPhillips Stock Looks Cheap After a Selloff (BR)
FAANGs: Amazon is shipping expired food, from baby formula to old beef jerky, scaring consumers and putting big brands at risk (C)
FAANGs: Facebook Reaches Deal With Wall Street Journal Publisher, Others for News Section (W)
Media: Netflix and HBO shows are getting pirated on this app that’s been bankrolled by advertisers such as Pandora, BET+ and TikTok (C)
Media: The Streaming TV Revolution Will Have Winners and Losers. How to Play the Stocks. (BR)

October 19 (Saturday)

Markets
Stocks Slip on China Data (W)
Boeing, J&J, dismal China data drag Wall Street lower (R)
Stock Versus Bond Showdown Is Testing History and Trader Nerves (B)

Central banks
Fed Eyes Another Rate Cut, Weighs When to Stop (W)
Fed’s Clarida keeps rate-cut door open; others less sure (R)
Dallas Fed’s Kaplan Says Jury Is Out on Whether Economy Will Need More Support (W)
ECB Policy Makers Cool on More Stimulus Even If Outlook Worsens (B)
Traders Now Almost Certain That Fed Will Cut Rates This Month (B)

US
Summers Sees More Than 1-in-3 Chance of Recession by End of 2020 (B)

Europe
Boris Johnson Turns On the Charm to Gather Support for Brexit Deal (W)

China
Worst of China’s Growth Slowdown May Be Over, Economists Say (B)

US politics
Democrats call Trump’s Doral G-7 pick ‘outrageous’ — GOP senator says it shows ‘tremendous integrity’ (C)
Clinton Says GOP Is ‘Grooming’ Third-Party Candidate to Aid Trump (W)

Geopolitics & trade
Mitch McConnell blasts Trump’s Syria withdrawal as ‘a strategic nightmare’ (C)

Industries & companies
Aerospace: FAA says Boeing withheld ‘concerning’ pilot messages about the safety of 737 Max (C)
Autos: Electric Hummer could be part of GM’s move into EV trucks, SUVs (R)
Consumer: J&J Recalls Baby Powder on Asbestos Concern (W)
Consumer: Soda Comeback Drives Sales Gains at Coca-Cola (W)
FAANGs: Lawmakers criticize Apple CEO Tim Cook for ‘censorship’ of apps in China (C)
FAANGs: Facebook’s Libra Is ‘Neat Idea That’ll Never Happen,’ Dimon Says (B)
Pharma: Investors Bail From Drug Stocks, Companies Step Up as Buyers (B)
Utilities: PG&E Says It Could Impose Blackouts in California for a Decade (W)

October 18 (Friday)

Markets
Stocks Climb on Strong Earnings, Brexit Deal (W)

US
Manufacturing Sputters as Broader U.S. Economy Slows (W)
U.S. Consumers’ Comfort in Buying Climate Climbs to Record High (B)

Europe
EU and U.K. Reach a Brexit Deal, But It Quickly Hits a Snag (B)
EU Shuts Down Talk of Fallback If Deal Defeated: Brexit Update (B)

US politics
Medicare for All Loses Support Amid Lack of Detail on Costs to Voters (W)

Geopolitics & trade
Turkey, U.S. Agree to Brief Cease-Fire to Allow Kurdish Retreat (B)
Trump to Host G-7 at Miami Resort, Sparking Conflict Claims (B)

Industries & companies
Autos: GM deal with UAW includes closing three US plants, $11,000 ‘ratification’ bonuses (C)
Financials: Goldman Sachs CEO Solomon says the bank’s investment in WeWork is still profitable at this time (C)
Logistics: Fred Smith Created FedEx. Now He Has to Reinvent It. (W)

Corporate finance
Saudi Aramco delays planned IPO to allow for earnings update: sources (R)
WeWork could run out of cash by mid-November — here’s what would happen next (C)
Airbnb’s cash numbers could show that it’s not another WeWork in the making (C)

Offbeat
The latest in the brokerage wars: Charles Schwab will allow people to buy fractions of stocks (C)

October 17 (Thursday)

Markets
Stock Market Refuses to Cooperate With Trump’s ‘Up Big’ Call (B)

Central banks
Charles Evans Says Fed May Want to Cut Interest Rates Again (B)
Fed’s Brainard Views Cost-Benefit of Negative Rates Unattractive (B)
The Fed Is Buying Treasurys Again. Just Don’t Call It Quantitative Easing. (W)
Record-Low 0.0000000091% Yield on Japan Bond Shows BOJ Effect (B)
Germany’s Central-Bank Chief Warns of U.S.-Europe Trade-War Dangers (W)

US
U.S. Economy Flashes Vivid Contradictions With Housing, Retail (B)

Europe
European Officials Strike Upbeat Tone on Brexit Deal (W)

Geopolitics & trade
‘Don’t be a fool!’ Trump letter warned Turkey’s Erdogan against Syria offensive (C)
Democrats say they left White House meeting on Syria after Trump ‘meltdown’ (C)

Industries & companies
Autos: GM, UAW agree on tentative labor contract that could end a monthlong strike by 48,000 workers (C)
FAANGs: Netflix soars after beating on earnings, despite miss on subscribers (C)
FAANGs: Inside Facebook’s Botched Attempt to Start a New Cryptocurrency (W)
Financials: Bank of America Profit Falls on Charge (W)
Materials: Alcoa Plans Up to $1 Billion in Assets Sales as Demand Sags (B)
Pharma: J&J Offers $4 Billion Opioid Litigation Settlement (W)
Retail: U.S. Retail Sales Unexpectedly Drop in Signal of Shaky Consumer (B)
Retail: Retail Stocks Shrug Off Weak Data (W)
Tech: IBM Earnings Fall in Prolonged Sales Slump (W)
Transports: CEO of the largest US trucking company predicts ‘difficult’ quarter for transport industry (C)

Corporate finance
T-Mobile Purchase of Sprint Clears FCC Vote, Heads to Court (B)

October 16 (Wednesday)

Markets
Global stocks jump on report Brexit deal may be close, oil slips (R)
Brexit Hopes Carry Pound and Banking Stocks Higher (W)

Earnings season
Earnings season gets off to a great start with only two misses (C)
Wall Street gains as earnings season begins in earnest (R)

Central banks
Fed’s James Bullard Cites Risk of Slowing Economy (W)
Fed’s Daly Still Weighing Her Rate View (W)

Global
Global Economy on Course for Weakest Growth Since Crisis (W)
Trade Woes Push IMF Global Growth Outlook to Decade-Low of 3% (B)
Removing U.S.-Chinese tariffs would boost global economy 0.8%: IMF (R)

US
Lower mortgage rates are causing an epic housing shortage (C)

Europe
Brexit Talks Edge Closer to a Deal (W)

China
As Facebook’s libra faces headwinds, China is racing to launch its own global cryptocurrency (C)

US politics
Warren pledges to turn down money from Big Tech and top Wall Street executives (C)
Biden vs. Warren: A Difference of Philosophy, Not Just Policy (W)
Trump is on his way to an easy win in 2020, according to Moody’s accurate election model (C)
House Democrats will hold off on full vote authorizing impeachment probe: source (R)
Pence, Giuliani Say They Won’t Give Congress Documents in Trump Impeachment Inquiry (W)

Geopolitics & trade
U.S. House Passes Bill Aimed at Supporting Hong Kong Protests (B)
U.S. to Try Diplomacy in Turkey as Russian Forces Swoop Into Syria (W)

Industries & companies
Autos: GM labor talks with UAW could be ‘in the home stretch’ as CEO Mary Barra joins negotiations (C)
Aerospace: Pictures Raise Specter of Fake Evidence in 737 Max Crash Probe (B)
FAANGs: Google’s aggressive ‘ambient computing’ strategy means it wants to be everywhere (C)
FAANGs: She Fined Tech Giants Billions of Dollars. Now She Wants Sharper Tools. (W)
Financials: JPMorgan Flexes Muscle as Goldman Stumbles (W)
Financials: Dimon Says Regulation Limited JPMorgan From Calming Repo Market (B)
Health Care: Health-Care Stocks Get a Welcome Respite (W)
Pharma: Drug Distributors Are in Talks to Pay $18 Billion to Settle Opioid Litigation (W)
Pharma: Johnson & Johnson Raises Outlook, Beats Profit Estimates (W)

October 15 (Tuesday)

Earnings season
Wall Street faces a tough earnings season: ‘Caution probably makes sense right now’ (C)
Industrial earnings take center stage in third quarter with trade, economy in focus (R)
5 prominent U.S. companies are most at fault for the earnings recession (MW)

Markets
U.S. Stocks Inch Lower in Quiet Session (W)
Investors Pull Money Out of Stock Funds, Squeezing Money Managers (W)
Oil Takes Hit Amid Wariness Over Trade Deal (W)

Central banks
China, Facing Slowdown, Unlikely to Push for More Stimulus (W)
Kuroda Is on Course to Shrink the Bank of Japan’s Bond Holding (B)

Europe
Boris Johnson’s Brexit Deal On Knife Edge as EU Needs More Time (B)
Give Us Your Rich, Europe Tells the U.K. (W)

China
China Widens Its Data Collection Through Popular App and Translation Service (W)

US politics
Mike Bloomberg keeps talking to allies about running for president as Joe Biden struggles against Elizabeth Warren (C)

Geopolitics & trade
Hold the ‘champagne’: What Chinese state media are saying about the trade talks (C)
Beijing is ‘relieved’ by partial trade agreement, says Trump outside advisor on China (C)
Are U.S.-Chinese tariffs on almost everything the ‘new normal’? (R)
Trump halts trade negotiations with Turkey, raises its steel tariffs to 50% (C)
Pence headed to Turkey as U.S. calls for cease-fire in Syria (MW)

Industries & companies
Aerospace: Boeing’s New Chairman Is a Boardroom Force Familiar With Crises (W)
Autos: Auto analyst Jonas says investors ‘comfortable’ with GM strike despite potential multibillion cost (C)
Pharma: Johnson & Johnson’s Legal Challenges Mount (W)

Corporate finance
Biggest U.S. IPOs Fall or Keep Falling Amid Gains Elsewhere (B)
SoftBank Seeks WeWork Control Via Financing Package (W)
Barneys’ New Suitor Seeks Tie-Up With Saks (W)

Offbeat
Companies Say Costs of Complying With Goodwill Accounting Rules Outweigh Benefits (W)
AI Has Learned to Create Fake News Stories (W)

October 14 (Monday)

Markets & investing
Wall Street has doubts after partial trade deal: ‘I don’t think this gets us to Christmas’ (C)
What to watch in third quarter earnings from U.S. companies (R)
Stocks’ Path Toward Records Led by Defensive Plays (W)
Investors are flocking to money markets at the highest rate since the financial crisis (C)
Harvard and Yale Missed the Stock Market Rally. Here’s Why. (BR)
The Case for Investing in Water (BR)
Pensions Really Matter for Stocks. Here’s What Investors Need to Know After GE’s Freeze. (BR)

Central banks
Fed Will Purchase Treasury Bills at Least Into Second Quarter of 2020 (W)
Fed’s Kashkari: If Data Continues As It Has, Another Rate Cut Is Warranted (W)

Global
Is the World Economy Sliding Into First Recession Since 2009? (B)

Europe
Significant work to do, but Brexit deal still possible: UK PM Johnson (R)
Weekend Talks Between EU and U.K. to Continue Monday, Says EU (W)
5 Years Into Negative Rates, Europe’s Banks Feel the Pain (BR)

China
U.S. Companies Faces New Challenges in China (BR)
China’s Xi warns attempts to divide China will end in ‘shattered bones’ (R)
Xi Jinping Comes to Nepal Bearing Investments, and India Is Watching (N)

Emerging
Mexico Could Win From the U.S.-China Trade War. Its President Isn’t Helping. (BR)

US politics
Hunter Biden resigns from Chinese firm following Trump attacks (C)
Hunter Biden disputes Trump attacks of his work, wades into impeachment fight (R)

Geopolitics & trade
Trump defends Syria withdrawal amid reports of atrocities and ISIS supporters escaping (C)
Trump tells Pentagon to begin withdrawing remaining troops from northern Syria (R)
U.S. set to pull remaining troops from north Syria after Turkish incursion (R)
Khamenei tells Iran’s Guards to develop advanced, modern weapons (R)
Trump Says U.S. Treasury ‘Ready to Go’ With Sanctions on Turkey (B)
U.S. Moves to Restart Taliban Peace Process (W)

Industries & companies
Aerospace: Costs pile up for airlines as Boeing 737 Max grounding enters eighth month (C)
Autos: UAW boosts strike pay as GM walkout continues (R)
Consumer: Kellogg Stock Looks Like It’s Worth Snacking On (BR)
Energy: ‘Broken system’ starves U.S. oil boom of immigrant workers (R)
FANG: How a massive Amazon wind farm promises to change a tiny town in rural America (C)
Industrials: GE and 4 More Favorite Stocks From a Fan of Disruption (BR)
Tech: Apple’s newest iPhone relies on cameras to hide its lack of innovation (C)

Offbeat
Investor Ken Fisher loses $600 million contract after making sexist comments at summit (C)
Scientists endorse mass civil disobedience to force climate action (R)
Kosgei shatters world marathon record, Cherono wins men’s race (R)
Biles dazzles on floor to win record 25th world championship medal (R)

October 12 (Saturday)

Markets
Stocks Rally as U.S.-China Trade Talks Progress (W)
These stocks could be the biggest winners if the US completes this phased trade deal with China (C)
Wall Street jumps but ends off highs after partial trade deal (C)

Central banks
Trump says the Fed should cut rates anyway even though US and China have agreed to trade deal (C)
QE, or Not QE? Impact of Fed Bond-Buying Will Depend on Treasury (B)
Fed to Start Buying $60 Billion of Treasury Bills a Month From Oct. 15 (B)

US
A Bite-Size Trade Deal Won’t Save U.S. Industry (W)
Earnings Season May Not Be as Bad as Investors Think (W)

Europe
Brexit Bounce: U.K. Assets Surge on Divorce-Deal Optimism (W)

China
Who Willed the Electric Car? China, and Here’s Why (W)

US politics
Indicted Giuliani associate worked for Ukrainian oligarch Firtash (R)
Trump urges appeals court to shield tax returns from N.Y. prosecutors (R)
Trump’s Stonewalling on Impeachment Shows Cracks With Testimony (B)

Industries & companies
Aerospace: Boeing’s board separates CEO, chairman roles (R)
Autos: GM Talks With UAW Hit Impasse, Propelling Strike Into the Weekend (W)
FAANGs: Facebook’s libra cryptocurrency coalition is falling apart as eBay, Visa, Mastercard and Stripe jump ship (C)

Geopolitics & trade
Trump says the US has come to a substantial phase one deal with China (C)
US says China tariffs scheduled to rise on Tuesday suspended; no decision on other tariffs (C)
U.S., China agree ‘Phase 1’ trade deal; Trump suspends October tariff hike (R)
Trump administration clears the way for sanctions on Turkey: ‘We can shut down the Turkish economy’ (C)

Corporate finance
IAC Proposes to Spin Off Match (W)

Technology
Can an AI System Be Given a Patent? (W)

Offbeat
Secret Recordings Describe Extensive Corruption at Mexico’s Pemex (W)