wiar 08-28-19

MFwebsite2020researchWhat I Am Reading

August 28 (Wednesday)

Markets
Stock dividends are yielding more than the 30-year Treasury bond for the first time in a decade (C)
Insiders are selling stock like it’s 2007 (NN)
U.S. yield inversion deepens, stokes recession fears (R)
The US is about to send a lot more oil into an already oversupplied world market (C)
Glut in Natural Gas Goes Global (W)

Currencies
A Dollar Rising Into a Possible U.S. Recession Could Be a Bad Omen (B)
Investors Betting Against the British Pound Fear a Reversal (W)
The US dollar’s days as the world’s most important currency are numbered – it’s official (MoneyWeek)

Central banks
Fed Rejects Call to Consider Politics in Policy Decisions (W)
Fed rejects call to deny Trump rate cuts; Trump keeps up pressure (R)
Fed divided on policy, discount rate votes show (R)

US
Home-Price Growth Continued to Slow in June (W)
U.S. consumer confidence falls but only slightly despite trade fight (R)
A recession in 2020 would hurt Trump, but it wouldn’t necessarily sink his reelection (C)
The Next Recession Will Destroy Millennials

US politics
Democrats’ Emerging Tax Idea: Look Beyond Income, Target Wealth (W)

Geopolitics & trade
Wary of Trump’s Flip-Flops, China Prepares for the Worst on Trade (B)
Hasbro CEO: Moving out of China has ‘gone very well for us’ (C)
Iran’s President Won’t Meet Trump Unless the U.S. Lifts Sanctions (W)
Trump-Backed U.S.-British Trade Deal Faces Hurdles (W)

Industries & companies
Autos: As Automatic Braking Becomes More Common in Cars, So Do Driver Complaints (W)
Consumer: Smucker Is Hit by Weaker Prices for Its Coffee and Peanut Butter (W)
FAANGs: Google Warns Against Blocking ‘Cookies’ Entirely, Triggering Criticism (W)
Pharma: Purdue Pharma in discussion on $10 billion-$12 billion offer to settle opioid claims: sources (R)
Pharma: Oklahoma uses century-old property law to win J&J opioid suit — other states could follow (C)

Corporate finance
Fall in Tobacco Sales Spurs Philip Morris, Altria to Talk Merger (W)
Saudi Aramco’s Path to the World’s Largest IPO (W)

Offbeat
Former Google Engineer Charged With Stealing Trade Secrets (W)

wiar 08-27-19

MFwebsite2020researchWhat I Am Reading

August 27 (Tuesday)

Markets
U.S. Stocks Gain as Trump Says China Wants a Deal (W)
Trump’s aggressive, mixed signals on China whiplash Wall Street (R)
Wall Street sees elevated recession risk, market woes after US and China stoke trade fears (C)
A sell-off worse than December can arrive in a week, says analyst who is predicting ‘Lehman-like’ drop (C)

US
Democrats float a short-term funding bill to avoid another government shutdown

US politics
Exclusive: U.S. officials fear ransomware attack against 2020 election (R)
Trump took a page out of the WWE’s playbook (P)

Geopolitics & trade
Trump says China sincerely wants a trade deal: ‘I’m not sure they have a choice’ (C)
Trump Softens Tone on China, Iran at G-7 Summit (W)
Cramer warns investors that believing China over Trump on trade is dangerous and costly (C)
Here’s everything that happened over the weekend with the US-China trade war (C)
Trump sees possible U.S.-EU trade deal that would avert car tariffs (R)
Huawei Launches AI Chip in Push to Unseat U.S. Makers (W)

Industries & companies
FAANGs: Big Tech Shares Lose Their Luster (W)
Pharma: Johnson & Johnson Ordered to Pay $572 Million in Oklahoma Opioid Case (W)
Pharma: Johnson & Johnson Shares Rise After Opioid Fine Is Less Than Expected (B)
Pharma: Investigators Use New Strategy to Combat Opioid Crisis: Data Analytics (W)
Pharma: Bristol-Myers Moves Closer to Buying Celgene (W)
Retail: Dollar-Store Chains to Pay $1.2 Million Over Expired-Product Claims (W)

wiar 08-26-19

MFwebsite2020researchWhat I Am Reading

August 26 (Monday)

YRI
Don’t Blame Buybacks for Boosting Stock Prices–Or Promoting Inequality (BR)
Daily Markets Overview

Markets
The Dow’s Week Turned Ugly After Trump Sparred With China and Powell (BR)
Mounting China trade tensions to keep Wall Street on edge and the economy under a cloud (MW)
Stocks Near Highs and Bonds Yields Head to Zero. One Answer: Convertible Bonds. (BR)

Central banks
Central bankers face political shocks, and hope to avoid the worst (R)
Fed’s commitment to act upstaged by Trump’s furor (R)
Fed’s Mester sees downside risk from escalating trade war (R)

Europe
German finance minister backs plans for wealth tax: Handelsblatt

Emerging
Latin America Hangs On to Its Economic Gloom (W)

US-China Trade War
Trump on US-China trade war: ‘I could declare a national emergency’ (C)
Kudlow does not expect China to retaliate against Trump’s latest tariffs despite Beijing’s warning (C)
Trump will raise tariff rates on Chinese goods in response to trade war retaliation (C)
China warns U.S. to stop ‘wrong’ trade actions or face consequences (R)
White House says Trump regrets not raising tariffs on China higher (C)
Trump Gambles That Trade War Will Pay Off in 2020 (W)
Explainer: What tools could Trump use to get U.S. firms to quit China? (R)

Global trade
Trump, Abe say U.S. and Japan have agreed in principle on trade deal (R)
Trump hints at a ‘very big trade deal’ with Britain post Brexit (C)
US-UK trade deal within a year of Brexit will be tight, UK PM Johnson (C)
EU chief Tusk says will ‘respond in kind’ if US imposes tariffs on France over digital tax (C)
Trump says U.S. would tax French wine in response to digital tax (R)

Geopolitics
Hong Kong Protests Force Companies to Choose: Their Employees or China (W)
At G-7, Trump says he is not happy about North Korea missile tests (C)
Britain sends another warship to boost presence in the Gulf (R)
White House blindsided by Iranian Foreign Minister Zarif’s G7 appearance (C)
Exclusive: Iran says it will not negotiate missile work, wants to export more oil (R)
Israel says air strike in Syria sent ‘no immunity’ message to Iran (R)

Industries & companies
Consumer: Nestlé Stock Still Looks Appetizing After Big Gain (BR)
Financials: Bank Stocks Are Slowing. Why JPMorgan Chase, American Express, and Discover Look Good. (BR)
Financials: Deutsche Bank and UBS Explored European Banking Alliance (W)
Media: Disney Enlists Superfans as It Prepares to Face Off Against Netflix (W)
Media: Football and the Future of TV (BR)

wiar 08-24-19

MFwebsite2020researchWhat I Am Reading

August 24 (Saturday)

Markets
Dow plummets more than 600 points after Trump orders US manufacturers to leave China (C)
Stocks, Bond Yields Fall on Escalating Trade Tensions (W)
Yield curve inverts again Friday as Trump reignites fears the trade war will lead to a recession (C)
Fed’s Powell vs. Trump: who’s got a ‘feel’ for markets now? (R)
Oil Slides as Latest China Tariffs Reignite Demand Fears (W)

Central banks
Powell Issues Warning Over Trade, Signals More Rate Cuts Are Possible (W)
Fed’s commitment to act upstaged by Trump’s furor (R)
Fed Vice Chair Clarida says the global economic outlook has worsened since July meeting (C)

US
How Trump’s tax cuts and the trade war have set the stage for a self-inflicted recession (NN)

US politics
Biden Slams ‘Irrational’ Foreign Policy as Trump Departs for G-7 (B)
Democratic Leaders Aren’t Weeping for Those Who Miss Debate Cut (W)
Justice Ginsburg Undergoes Treatment for Pancreatic Tumor (W)

Geopolitics & trade
Trump will raise tariff rates on Chinese goods in response to trade war retaliation (C)
Trump heaps another 5% tariff on Chinese goods in latest tit-for-tat escalation (R)
Here’s a list of American products targeted by China’s new tariffs (C)
Latest Round in Trade War Set to Hit U.S. Vehicles, Agriculture Hard (W)
In a bad sign for trade talks, Trump deploys a new label for China’s Xi – ‘enemy (C)
Hong Kong Protesters Form Human Chains in Latest Opposition Tactic (W)

Industries & companies
Autos: BMW, Mercedes-Benz Ensnared Again in U.S.-China Trade War (B)
FAANGs: Amazon Has Ceded Control of Its Site. The Result: Thousands of Banned, Unsafe or Mislabeled Products (W)
Industrials: U.S. Steel to idle Indiana plant, 150 jobs at risk (R)
Retail: Retailers Dealt Another Blow as Trump Steps Up China Tariffs (B)

Offbeat
Illinois Death Could Be First Linked to Vaping (W)
Customers Handed Over Their DNA. The Company Let the FBI Take a Look. (W)

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SRwebsite2020researchUncategorized

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wiar 08-23-19

MFwebsite2020researchWhat I Am Reading

August 23 (Friday)

Markets
Markets doubt Fed’s ability to defend economy, spur inflation (R)
Yields Plumb New Lows, but ‘Century Bonds’ Remain Scarce (W)

Central banks
Fed’s Powell, under pressure, likely to stick to ‘mid-cycle’ message (R)
Powell Faces Challenge Defining Doctrine Around When to Cut Rates (W)
Two Fed officials see no case for rate cut now; Kaplan ‘open-minded’ (R)
Three Fed Officials Offer Diverging Views on Rate Cuts in TV Interviews (W)
Cramer says Trump is basically risking recession over trade to force the Fed to cut rates again (C)
Switzerland Tried Negative Rates in the 1970s. It Got Very Ugly (B)

US
The economist who first linked the yield curve to recessions sees ‘pretty high’ chance of downturn (C)

Emerging
As Amazon burns, Brazil’s Bolsonaro tells rest of world not to interfere (R)

US politics
Should I stay or should I run? Pompeo under pressure over U.S. Senate seat (R)
Trump drops bid to slash foreign aid after Congress objects (R)
Bernie Sanders Releases $16 Trillion ‘Green New Deal’ Plan (N)
Joe Biden’s Poll Numbers Mask an Enthusiasm Problem (N)
Ocasio-Cortez slammed for calling the Electoral College a racist ‘scam’ (P)

Geopolitics & trade
To Gain Leverage in China Trade Talks, Trump Shows Solidarity With Hong Kong (N)
G-7 summit set to end without an agreement for the first time in history (C)
Trump’s message to G7 leaders this weekend: Be more like U.S. (R)
Uighurs Use Videos to Draw Attention to Missing Family Members (W)
Imported repression: How Cuba taught Venezuela to quash military dissent (R)

Industries & companies
Retail: Gap same-store sales disappoint as Old Navy struggles (R)
Tech: Salesforce sees higher quarterly, FY revenue; shares rise 7% (R)

Cybersecurity
Ransomware Attacks Cripple Cities Across America (N)

Offbeat
Baby Boomers Are Leaving Behind a Trail of Luxury Ranches (W)
Barack and Michelle Obama are buying a $15M estate in Martha’s Vineyard (P)
Large Telecoms, State Enforcers Make Pact to Combat Robocalls (W)

wiar 08-22-19

MFwebsite2020researchWhat I Am Reading

August 22 (Thursday)

Markets
Wall Street rises as Target, Lowe’s results point to consumer confidence (R)
Germany Sells 30-Year Bonds With Negative Yields (W)

Central banks
Fed Officials Saw July Rate Cut as ‘Recalibration’ of Policy (W)
Fed says July rate cut was ‘recalibration’ and not part of ‘pre-set course’ for more easing (C)
Fed was divided on rate cut, wanted to avoid appearing on path for more cuts (R)
Fed sees tariffs as ‘persistent headwind’ to economic growth (C)
Trump praises Germany’s negative yields, but doesn’t mention that its bond sale failed (C)

US
Trade woes are slowing U.S. economy, U.S. budget experts say (R)
U.S. home sales rise, boosted by lower mortgage rates (R)
Job Growth Was Weaker Than Believed, Government Says (N)
Federal Deficits to Grow More Than Expected in Next Decade, CBO Says (W)
Deficit Will Reach $1 Trillion Next Year, Budget Office Predicts (N)

US politics
Trump’s Message: The Economy Is Great. But We Need a Big Stimulus. (N)
In Reversal, Trump Says He No Longer Is Weighing Tax Cuts (W)
Trump says he is seriously looking at ending birthright citizenship (R)
Trump imposes rule allowing U.S. to detain migrant families indefinitely (R)

Geopolitics & trade
Trump: ‘I am the chosen one’ to take on China over trade (R)
Manufacturers Want to Quit China for Vietnam. They’re Finding It Impossible. (W)
Ahead of G7 summit, Macron presses U.S. to help reform taxes on big tech (R)
After Germany hints at compromise, France tells UK: no new Brexit deal (R)

Industries & companies
Retail: Retail Divide Widens as Shoppers Seek Value and Convenience (W)
Retail: Lowe’s Reports Higher Profit, Beating Estimates (W)

Corporate finance
Slowing Buybacks Remove Pillar of Stock Market (W)
The Stock-Buyback Swindle (Atlantic)

Offbeat
50 States. 50 Archival Photos. How Many Can You Guess? (N)

wiar 08-21-19

MFwebsite2020researchWhat I Am Reading

August 21 (Wednesday)

Markets
Investing in the strange negative yield world — ‘It’s very hard to wrap your arms around’ (C)
Junk-Bond Investors Turn Picky as Slowdown Talk Swirls (W)
McKinsey Sees ‘Ominous’ Signs of Another Asian Debt Crisis (B)

Wall Street
U.S. regulators hand Wall Street a major win with stripped-down ‘Volcker Rule’ (R)

Central banks
China may have a new way of boosting its economy. Here’s what the central bank just did (C)
DoubleLine’s Jeffrey Gundlach says Federal Reserve has lost control (R)

US
Historic Rise of College-Educated Women in Labor Force Changes Workplace (W)

Europe
Italian PM resigns, denounces Salvini for sinking government (R)

US politics
Trump says he’s ‘thinking about’ a payroll tax cut — a day after the White House denies it (C)
Trump Examining Various Tax Cuts to Bolster the Economy (W)
Biden’s Lead Is Wider Than Ever, But It Won’t Necessarily Last (B)

Geopolitics & trade
Trump says Europe will give him anything he wants: ‘All we have to do is tax their cars’ (C)
Twitter, Facebook Act Against Disinformation on Hong Kong Protests (W)

Industries & companies
Aerospace: Boeing hiring hundreds of temporary workers to maintain parked 737 Max planes (C)
Energy: Hess Has Been 2019’s Top Oil and Gas Stock, but Shale Isn’t the Reason (W)
FAANGs: Apple health team faces departures as tensions rise over differing visions for the future (C)
FAANGs: Goldman CEO memo calls Apple Card ‘a beginning’ on launch day (R)
Retail: Home Depot Cuts Sales Forecast (W)
Retail: Urban Outfitters shares rise on mixed earnings report, Free People stands out (C)

Corporate finance
Bayer to Sell Animal-Health Unit for $7.6 Billion Amid Roundup Lawsuits (W)

Technology
Walmart sues Tesla over solar panel fires at seven stores (C)

wiar 08-20-19

MFwebsite2020researchWhat I Am Reading

August 20 (Tuesday)

Markets
Stocks rebounding, but new highs may be elusive in trade war (C)
Wall Street rallies on hopes of global economic stimulus (R)
Investors Seek Havens as Growth Fears Persist (W)
Yield-Curve Inversion May Be Good News for This Lagging Stock Sector (W)

US
The CEOs of nearly 200 companies just said shareholder value is no longer their main objective (C)
Tilman Fertitta, owner of everything from restaurants to casinos, is turning ‘very conservative’ because of recession fears (C)
White House reportedly looks at payroll tax cut as a way to stop an economic downturn (C)
An Economic Warning Sign: RV Shipments Are Slipping (W)

Central banks
Trump Calls for a Big Fed Rate Cut, Again Criticizes Powell (W)
Trump Urges Fed Cut of 100 Basis Points, Cites World Economy (B)
Investors might be disappointed in Fed’s message from Jackson Hole (MW)
Powell gets the chance this week to make up with markets after his ‘midcycle adjustment’ (C)
Fed’s Rosengren Wants Evidence of Slowdown to Justify Rate Cut (B)

Geopolitics & trade
Trump ‘not ready’ for China trade deal, dismisses recession fears (R)
Twitter, Facebook Say China Used Fake Accounts to Target Hong Kong Protests (B)
Next Door to Hong Kong, Little Sympathy for the Protesters (W)
More Russian Nuclear Monitoring Stations Went Silent Days After Blast, Official Says (W)

Industries & companies
FAANGs: Trump tweets without evidence that Google ‘manipulated’ votes in the 2016 election and ‘should be sued’ (C)

Corporate finance
Attorneys General to Move Forward With Antitrust Probe of Big Tech (W)

Cybersecurity
Alarm in Texas as 23 towns hit by ‘coordinated’ ransomware attack (C)

Offbeat
‘We Can’t Waste a Drop.’ India Is Running Out of Water. (W)
Here’s why my fellow millennials are seduced by socialism (P)
More than 1,000 Google employees implore leaders to stop working with U.S. customs and immigration (C)

wiar 08-19-19

MFwebsite2020researchWhat I Am Reading

August 19 (Monday)

Markets
Markets are braced for a global downturn (E)
These 10 ‘grey swan’ events could conspire to imperil global economy and markets (MW)
What Comes Next in Hong Kong Could Be Scary for Investors (BR)
Large Firms Trim Debt, Fueling Surge in Bonds at Center of Leverage Concerns (W)
Dollar Towers Above Rivals, Posing Fresh Threats to Financial Markets (W)

Europe
Italy’s 5-Star says Salvini no longer a credible partner (R)

US politics
White House says no recession in sight, pushes China trade talks (R)
Kudlow says he doesn’t see a recession on the horizon, defends Trump’s trade war (C)
White House trade advisor Navarro: ‘Technically we did not have a yield curve inversion’ (C)
Americans overwhelmingly support free trade as concern grows about Trump’s economy: NBC/WSJ poll (C)

Geopolitics & trade
Hong Kong Protesters Find New Momentum With Largest Rally in Weeks (W)
Hong Kong protesters throng streets peacefully in pouring rain (R)
Costly Tariff Spat Masks Deeper Trade Problems (W)
Trump says he talked to Apple CEO Tim Cook about tariffs and Samsung (C)
Exclusive: U.S. set to give Huawei another 90 days to buy from American suppliers – sources (R)

Industries & companies
Energy: Oil and Gas Stocks to Love (BR)
FAANGs: Why Apple doesn’t want users to replace their own batteries (C)
Media: Disney’s Latest Endeavor: Getting the Fox Studio on Track (W)
Media: An Internet Incubator Goes Back to Its Roots (BR)
Retail: Nordstrom Did So Much Right, but It’s Still in Trouble (W)
Retail: American Eagle Stock Will Soar Despite the Trade War (BR)

Offbeat
Danish PM says idea of selling Greenland to U.S. is absurd (R)