Dr. Ed's Blog

September 10 (Tuesday)

Markets
Dow Industrials Edge Up in Quiet Session (W)
Stocks are expected to break out to new highs, barring any errant presidential trade tweets (C)
Stocks Near Records, but Memories of 2018 Leave Investors Uneasy (W)
Hedge Funds Getting Burned as Growth Stocks Trounced by Value (B)

Credit
Top U.S. regulator warns over corporate debt, market risks (R)
US consumer borrowing posts $23.3 billion gain, biggest gain since late 2017 (C)
Real US debt levels could be 2,000% of economy, a Wall Street report suggests (C)

US
U.S. Treasury chief sees positive year for economy as China talks loom (R)
U.S. consumer inflation expectations decline to a new low: NY Fed survey (R)
Fall housing shifts quickly to a buyer’s market (C)
Amazon Has 30,000 Open Jobs. Yes, You Read That Right. (N)

US politics
Trump Calls GOP Challengers the ‘Three Stooges’ (W)

Europe
Boris Johnson Promises Oct. 31 Brexit as Law Passes to Rule Out No Deal (W)
MPs Demand Government Publish No-Deal Planning: Brexit Update (B)
Boris Johnson Faces Parliament Defeat on Snap Election: Trader’s Guide (B)
Corbyn, unlikely EU warrior, makes last stand on Brexit (R)
Germany Says Budget Change Possible to Counter Slump; Bunds Fall (B)

Geopolitics & trade
U.S. Files Criminal Charges Against Chinese Professor Linked to Huawei (W)
The World Expected a Chinese Tech Takeover. Alibaba Can’t Even Conquer Vietnam. (W)

Industries & companies
Energy: Fracking Buzzwords Evolve, From ‘Ramp Up’ to ‘Capital Discipline’ (W)
FAANGs: Google faces a new antitrust probe by 50 attorneys general (C)
FAANGs: The Government vs. Big Tech: Arguments Each Side Could Make (W)
eCommerce: Shopify will soon trail only Amazon for US e-commerce, and the stock is soaring (C)

Corporate finance
Elliott Discloses AT&T Stake and Calls for Shake-Up (W)

Offbeat
Early retirement sounds amazing, but it can take a toll on your mental health (MW)

September 9 (Monday)

Markets
Opinion: Gold’s big drop is just the beginning of a longer slide (MW)

Central banks
Why the coming recession could force the Federal Reserve to swap greenbacks for digital dollars (MW)

Global
High Debt Levels Are Weighing on Economies (W)
What Americans Can Learn From the Rest of the World About Retirement

US
Manufacturers Cut Spending as Trade War Dents Confidence (W)
Low Interest Rates Create a Pension Problem for Companies (BR)
Workers Are Fleeing Big Cities for Smaller Ones—and Taking Their Jobs With Them (W)

Europe
Sticking to Brexit plan, Johnson will not seek a delay (R)
In Italy, Pensioners Are Pawns in a Fiscal Showdown (BR)
The new European Commission will be the most political yet (E)

China
China Says Growth Is Fine. Private Data Show a Sharper Slowdown. (W)

US politics
Congress Returns From Summer Break With Lengthy Agenda (W)

Geopolitics & trade
China’s exports to the US are falling sharply as Trump escalates the trade war (C)
Hong Kong police fire tear gas as clashes erupt after thousands appeal to Trump (R)
Exclusive: IAEA found uranium traces at Iran ‘atomic warehouse’ – diplomats (R)
Syria will poison the region for years to come (E)

Offbeat
‘We’re at War’: A Covert Social Media Campaign Boosts Military Rulers (N)

September 7 (Saturday)

Markets
Wall St. barely gains after mixed U.S. jobs data (R)
U.S. Junk Bonds With Negative Yields? Yes, Kind of (W)

Central banks I
Fed chief Powell says trade policy is weighing on investment decisions (C)
Powell says the Fed is not forecasting or expecting a recession (C)
Fed Chair Powell repeats vow to act ‘as appropriate’ (R)
Don’t assume a rate cut is coming this month, says former Fed official (C)
August Jobs Report Will Keep Fed on Track to Cut Rates (W)

Central banks II
China’s Central Bank to Free Up $126 Billion for Lending (W)
Explainer: ECB weighs stimulus options to boost ailing economy (R)

US
U.S. hiring cools; wages, hours offer silver lining (R)
Modest August Job Growth Shows Economy Expanding, but Slowly (W)

Europe
Britain’s Steve Bannon Is Tearing Boris Johnson’s Tories Apart (B)

US politics
More House Republicans Ask: Why Win Re-election When You Can Retire Instead (N)
Opinion: This economy is just like the one Trump ran against in 2016 — except one thing (MW)

Geopolitics & trade
U.S.-China trade conflict could take years to resolve: Kudlow (R)
Why U.S.-China Supply Chains Are Stronger Than the Trade War

Industries & companies
FAANGs: States to Launch Google, Facebook Antitrust Investigations (W)
FAANGs: Facebook Rolls Out Dating Feature in U.S. (W)
FAANGs: Big Tech’s Hands-Off Era Is Over (W)

Corporate finance
WeWork’s List of Potential Conflicts Adds to Questions Ahead of IPO (W)
Buyout Firms Seek to Acquire Symantec for More Than $16 Billion (W)

Offbeat
Death toll rises from mysterious lung illnesses linked to vaping, prompting CDC to sound alarm on e-cigarettes (C)
India Loses Contact With Chandrayaan-2 Mission During Moon Landing Attempt (N)

September 6 (Friday)

Markets
U.S., China agree to resume trade talks, markets jump (R)
OPEC is struggling to prove it can still arrest oil price declines in the age of Trump, RBC’s Croft says (C)
Precious Metals Enjoy Resurgence in Negative-Yield World (W)

Central banks
Fed Lines Up Another Quarter-Point Rate Cut (W)
The Fed is expected to cut rates only a quarter point, and that may not satisfy markets (C)
The White House says the Fed is the No. 1 problem facing the economy. That’s not true (NN)

US
U.S. services sector suggests economy weathering trade storm (R)
A Recession Isn’t Inevitable: The Case for Economic Optimism (N)

Europe
Boris Johnson ‘has lost control,’ experts say, but election could be a ‘lifeline’ (C)
A snap election could damage Boris Johnson’s party, or even see the UK break apart (C)

Geopolitics & trade
China and the U.S. Will Hold Trade Talks in Washington in October (W)
Reliable China insiders hint that this round of trade talks could lead to a ‘breakthrough’ (C)
No place like home: Chinese firms stung by trade war build up domestic brands (R)
Hong Kong leader says China ‘respects and supports’ withdrawal of extradition bill (R)
‘Half an Olive Branch’ Fails to Pacify Hong Kong Protesters (W)
U.S. Border Crossings Continue to Fall as Mexico Disrupts Migrant Flow (W)
The Secret History of the Push to Strike Iran (N)

Industries & companies
Autos: Opinion: Here’s how to capitalize on the electric car revolution — without buying Tesla’s stock (MW)
FAANGs: Amazon is testing a ‘New’ badge to highlight newly released products (C)
Utilities: PG&E’s Long Record of Run-Ins With Regulators: A ‘Cat and Mouse Game’ (W)

Corporate finance
WeWork is dramatically slashing its IPO valuation to less than $25 billion because of weak demand (C)

Offbeat
The Top-Ranked College Is… (W)
New York finds high levels of vitamin E oil in cannabis vaping products linked to lung disease (C)

September 5 (Thursday)

Markets
Wall Street rises on strong Chinese data, Hong Kong and Brexit news (R)
Dow, S&P 500 Bounce Back After Global Rally (W)
In a world of disappearing income, these stable stocks pay a high dividend yield (C)

Central banks
U.S. economy growing modestly as trade war dents activity: Fed (R)
Fed’s Beige Book Reports Modest Growth Despite Trade Uncertainty (W)
Fed Officials Warn Consumer Is Alone in Carrying U.S. Economy (B)
Fed’s rate-cut debate focuses on ‘robust’ U.S. consumer (R)
Lagarde Pledges to Review ECB’s Negative Rates (W)

US
U.S. trade deficit shrinks, gap with China remains elevated (R)
Capitalism is in a moment of crisis – and business leaders know it (C)

Europe
U.K. Lawmakers Foil Johnson With Votes to Delay Brexit and Bar Snap Election (W)
Italy Signals More EU Cooperation With New Appointees (W)

US politics
Democrats Propose Spending Trillions of Dollars on Climate Plans (W)
Pentagon pulls funds for military schools, daycare to pay for Trump’s border wall (R)

Geopolitics & trade
U.S. imposes duties on structural steel from China, Mexico (R)
Hong Kong to Pull Extradition Bill That Sparked Protests (W)

Industries & companies
FAANGs: Apple is borrowing in the bond market for the first time since US tax reform (C)
FAANGs: Apple Leads Corporate Bond Bonanza (W)
FAANGs: Why Apple Is Borrowing $7 Billion While Sitting on a $200 Billion Cash Pile (B)
FAANGs: YouTube fine shows the US government is not serious about a Big Tech crackdown (C)
FAANGs: YouTube to Pay Fine, Adjust Site Over Children’s Privacy (W)
Financials: How U.S. Banks Took Over the World (W)
Financials: Goldman Sachs’s Partnership Is Shrinking (W)
Restaurants: Starbucks Is Cooling Off in Bad Sign for Corporate Profits (W)

Technology
A Breakthrough for A.I. Technology: Passing an 8th-Grade Science Test (N)

Offbeat
His Cat’s Death Left Him Heartbroken. So He Cloned It. (N)

September 4 (Wednesday)

Markets
U.S. Stocks Fall Amid Trade Tensions, Weak Data (W)
Dollar Index Climbs to Two-Year High (W)
Deere Sells 30-Year Corporate Bonds at Record Low Yields (W)

Central banks
To cut or not? Dueling Fed views boost pressure on Powell (R)
Fed’s Rosengren: Economy Doing Fine Despite Risks to Outlook (W)
Fed’s Rosengren Sees ‘No Immediate’ Easing Needed (B)

US
U.S. Factory Activity Shrinks for First Time in 3 Years (W)

Europe
Opponents of ‘no-deal’ Brexit vote to defeat Johnson (R)
UK lawmakers vote to take control of parliament in bid to prevent a no-deal Brexit (C)
Wounded Johnson’s Brexit Plan in Tatters as Election Fight Looms (B)
Italy’s 5 Star Approves Coalition Government With Ex-Foes (W)

Emerging
Argentine Banks Pay Highest Rate in 3 Years to Keep USD Savings (B)
Why Demand for Power Is Surging Amid India’s Growth Slowdown (B)

Geopolitics & trade
Trump was so angry after China’s trade retaliation that he wanted to double tariffs (C)
Beijing Asserts Power to Declare Emergency to Quell Hong Kong Unrest (W)
Huawei Accuses the U.S. of Cyberattacks and Staff Threats (W)

Industries & companies
Autos: Tesla owners in China are asking for refunds after the company scored a 10% tax break (C)
Financials: Bank Stocks Fall on Global Growth Worries (W)
Financials: Dorian Is Exposing an Insurance Gap in the Bahamas (W)
Retail: Some retailers resist price increases on tariff-impacted goods, founder of housewares company says (C)
Tech: Uber and Lyft close at record lows as investors lose faith in ride-sharing companies (C)

Offbeat
Hurricane Dorian weakens to Category 2 as it heads toward Florida coast (C)
Texas Shooter, Deemed Mentally Unfit, Was Banned From Buying Guns (W)

September 3 (Tuesday)

Markets
Global Stocks Rise on Manufacturing Data (W)
Stocks slip on tariffs, Argentina hit by capital controls (R)
The Market Forces That Propelled a Massive Rally in Long Bonds (W)
Fall Forecast: Modest Gains, at Best, for Stocks and Bonds (BR)
Positive yields ahoy! Investors hoover up European junk bond issues (R)

US
Labor Department’s newest debacle should be Trump’s main ‘job’ (P)
Cost of Infrastructure Fixes Is Going Up (W)

Europe
British Prime Minister Boris Johnson says Brexit deal chances are rising (C)
Johnson Threatens Oct. 14 Election Over No-Deal: Brexit Update (B)
German Anti-Immigration Party Makes Gains in Regional Elections (W)

Emerging
Argentine Government Imposes Capital Controls (W)

Geopolitics & trade
Trump ‘doesn’t necessarily need a deal’ with Beijing to be reelected, says US-China Business Council (C)
Growing sense of nationalism in China could embolden Xi Jinping, says ex-US ambassador (C)
China, U.S. Struggle to Set Meeting as Tariffs Erode Trust (B)
China lodges tariff case at WTO against the U.S. (R)
U.S.-China Trade War’s Global Impact Grows (W)
The World’s Factories Are Stalling as Tariff Pain Spreads (B)
Hong Kong Chief Taped Saying She Wants to Quit, Reuters Reports (B)
Iran Curbs U.N. Probe Into Nuclear Site (W)

Industries & companies
Biotech: The Next Frontier in Treating Disease (BR)
FAANGs: Google to Pay Millions in Fines Over Children’s Privacy Issues at YouTube (W)
Insurance: Hurricane Dorian could cost insurers $25 billion, UBS says (C)

Technology
The Next Hot Job: Pretending to Be a Robot (W)

Offbeat
At least 5 dead as ‘nearly stationary’ Hurricane Dorian pounds the northern Bahamas (C)

August 31 (Saturday)

Markets
Stocks Break Losing Streak to End Volatile August (W)
Investors say goodbye to choppy August markets but September may be no better (C)
The Unstoppable Surge in Negative Yields Reaches $17 Trillion (B)
Ray Dalio warns of ‘serious problems’ and a bond ‘blow-off’ as a repeat of the late 1930s looms (C)
Euro Tumbles to Two-Year Low After Weak Economic Data (W)
Emerging Markets Are Often Bad in August, But Rarely This Bad (B)

US
Inflation Picked Up in July (W)
Consumer Spending Rise Bolsters Confidence in Economy (W)
Historic Asset Boom Passes by Half of Families (W)
Companies Say They Can Ignore Cost of U.S. Tax Rule (W)

China
China August factory activity shrinks for fourth month: official PMI (R)

Emerging
India’s Economic Growth Slows to Six-Year Low (W)

Geopolitics & trade
Trump says tariffs on Chinese goods are still set to go into effect on Sunday (C)
Trump Trade War With China Will Hit Apple for Real This Weekend (B)
China claims fentanyl progress in trade call, sources say (C)
European Diplomats Swing Behind French Bid to Ease U.S.-Iran Tensions (W)
Trump says the US wasn’t involved in apparent launch pad explosion in Iran (C)
Trump Iran photo tweet raises worries about disclosure of U.S. surveillance secrets (R)

Industries & companies
Autos: Tesla Raises Price of Model 3 in China Ahead of Tariff Jump (W)
Energy: Energy Bankruptcies Rise as Investors Lose Taste for Shale (W)
FAANGs: Google’s report on massive iPhone security flaw doubles as dig against Apple’s privacy stance (C)

Cybersecurity
Fraudsters Used AI to Mimic CEO’s Voice in Unusual Cybercrime Case (W)

Offbeat
Dorian Upgraded to Category 4 as It Heads Toward Bahamas, Florida (W)

August 30 (Friday)

YRI
One Book Could Change How the Federal Reserve Looks at Stock Buybacks (BR)
Daily Markets Overview

Markets
Dow surges more than 300 points after China hints it won’t retaliate for now in trade war (C)
As U.S. Treasuries sizzle, some bond investors brace for possible sell-off (R)

US
U.S. Growth Slows, Corporate Profits Rise

Europe
Britain’s Labour plans to use parliament to thwart no-deal Brexit (R)

China
Young Chinese Spend Like Americans—and Take on Worrisome Debt

US politics
DOJ declines to prosecute Comey despite finding that he leaked info (R)
Democratic candidate Beto O’Rourke releases trade plan that would end Trump’s China tariffs (C)

Geopolitics & trade
U.S. Companies Say Trade War Is Hitting China Operations (W)
Trump says US and China resume trade talks Thursday ‘at a different level’ (C)
China says it’s willing to resolve the trade war with a ‘calm attitude,’ hints it won’t retaliate for now (C)
China Studying Tech Companies’ Exposure to U.S. Suppliers (W)
China says troops will defend Hong Kong’s prosperity ahead of planned pro-democracy march (R)
U.S. Prosecutors Probe Huawei on New Allegations of Technology Theft (W)
In Iran’s Hierarchy, Talks With Trump Are Now Seen as Inevitable (N)
US intel report says mysterious Russian explosion was triggered by recovery mission of nuclear-powered missile, not a test (C)

Industries & companies
FAANGs: Apple likely to unveil latest iPhone on September 10 (R)
FAANGs: Senators ask Jeff Bezos to crack down on thousands of unsafe products on Amazon (C)
FAANGs: How Amazon’s Shipping Empire Is Challenging UPS and FedEx (W)

Technology
Mobile payments have barely caught on in the US, despite the rise of smartphones (C)

Corporate finance
Aramco Proposes Two-Stage IPO, Shunning London, Hong Kong (W)
Disney sells its stake in YES Network to investor group that includes Amazon in $3.47 billion deal (C)

Offbeat
Organoids Are Not Brains. How Are They Making Brain Waves? (N)
Hurricane Dorian Possibly Growing to Category 4 (W)

August 29 (Thursday)

Markets
Dow Industrials Surge 258 Points (W)
Few Places to Hide When Markets All Move Together (W)
While Wall St. Talks of Recession, Bond Investors Make a Killing (N)
Why record low bond yields could keep heading lower as market fears ‘disaster scenario’ (C)
U.S. 30-year bond yields hit record low, curve inversion grows (R)
The Big Short’s Michael Burry Sees a Bubble in Passive Investing (B)

Central banks
The Federal Reserve Resistance (W)
Fed’s Barkin Not Convinced Low Inflation Calls for Rate Cut (W)
Transcript: WSJ Interview With Dallas Fed President Robert Kaplan (W)
Dalio Says Central Banks Are Losing Ability to Reverse Downturns (B)

US
New recession warning: The rich aren’t spending (C)
More Americans Say the Economy Is Declining, and They’re Blaming Trump (B)

Europe
British PM to suspend parliament before Brexit, opposition denounces ‘coup’ (R)
New Government Takes Shape in Italy, Sidelining Salvini and the Hard Right (N)

Emerging
India’s Spending Spree Slows as Debt Problems Become More Widespread (W)

US politics
Mnuchin Says U.S. Doesn’t Intend to Intervene on Dollar for Now (B)
The Tea Party Didn’t Get What It Wanted, but It Did Unleash the Politics of Anger (N)
Trump slams ‘corrupt’ Puerto Rico as Hurricane Dorian menaces island (R)

Industries & companies
FAANGs: Apple’s data shows a deepening dependence on China as Trump’s tariffs loom (R)
FAANGs: Facebook Ad Prices Surge as Democrats Target Voters (W)
Retail: Retailers howl as U.S. trade agency locks in 15% tariffs on Sept. 1 (R)

Geopolitics & trade
China Prepares for the Worst on Trade War After Trump’s Flip-Flops (B)
China’s playing the long game, and is making key moves to hedge against Trump’s tariffs (C)
Mainland Chinese Sneak Into Hong Kong’s Protests—to Support the Cause (W)
Security Concerns Threaten Data Link Backed by Google, Facebook (W)
Huawei plans high-end phone launch under cloud of Google ban (R)
The Iran-Israel War Is Here (W)
U.S. Cyberattack Hurt Iran’s Ability to Target Oil Tankers (N)

Corporate finance
How Bayer-Monsanto Became One of the Worst Corporate Deals—in 12 Charts (W)

Offbeat
The Amazon, Siberia, Indonesia: A World of Fire (N)