Dr. Ed's Blog

August 07 (Wednesday)

Markets
U.S. Stocks Regain Ground as China’s Yuan Stabilizes (W)
Wall Street climbs more than 1% after China moves on yuan (R)
This will be Wall Street’s new obsession as the trade war intensifies (C)
Global Oil Prices Slide Into Bear Market (W)
Hong Kong Assets Turn Toxic as Trade War and Protests Cloud Outlook (B)

Central banks
Former Fed Leaders Plea for Central Bank’s Political Independence (W)
After Rate Cut, Trade Headwinds Complicate Outlook for Fed Officials (W)
Treasury Curve Signals Disappointment With Bullard’s Message (B)

US
U.S. labor market slowing as job openings, hiring fall (R)

US politics
Biden leads Democrats as minorities favor most electable candidate vs Trump: Reuters/Ipsos poll (R)
‘The headline was bad’: New York Times amends front page on Trump’s response to mass shootings after backlash (WP)

Geopolitics & trade
Trump is increasingly relying on himself — not his aides — in trade war with China (WP)
China Digs In to Outlast U.S. in Trade Dispute (W)
Trump dismisses fears of long-lasting trade war; China sees severe global impact (R)
China Deals ‘Body Blow’ to Struggling U.S. Farm Belt (W)
U.S. Slaps Duty on $4.4 Billion of China Cabinets Amid Trade War (B)
In Trade War, China’s Hard-Line Stance Risks Economy (N)
China Warns Hong Kong Protesters, Signals Growing Impatience (W)

Industries & companies
FAANGs: Amazon’s PillPack is battling with CVS and Walgreens over getting patient prescriptions (C)
Financials: Apple, Goldman Sachs start issuing Apple Cards to consumers (R)
Media: Disney reports record revenue, but stock falls as Fox acquisition hurts earnings (MW)

Offbeat
A Quarter of Humanity Faces Looming Water Crisis (N)

August 06 (Tuesday)

Markets
Dow plunges 760 points in worst day of 2019 as trade war intensifies (C)
Dow futures fall, implying a 480-point drop on Tuesday as trade war sell-off continues (C)
World’s Richest Lose $117 Billion in One-Day Market Meltdown (B)
Trump’s Fed Badgering Might Not Deliver the Weak Dollar He Wants (B)
NYSE Aims to Speed Up Trading With Core Tech Upgrade (W)

Central banks
Reluctant Fed Likely to Cut Rates Again as Trade War Intensifies (B)
A Half-Point of Fed Cuts Could Be Here Before October Is Over (B)
Powell’s Off-the-Cuff Approach Leaves Investors on Edge (W)
Fed’s Brainard Is Monitoring Market Developments ‘Very Closely’ (B)
Fed to Create Payments System to Speed Money Transfers (W)

US
Services-Sector Growth is Slowest in Three Years (W)

US politics & gun violence
Trump Condemns White Supremacy as Death Toll From Shootings Rises (W)
Democrats aim their outrage at Trump after two mass shootings (R)
Mental Illness and Mass Murder (W)

Geopolitics: China & trade
China lets yuan weaken and stops buying U.S. crops, escalating trade war (R)
China’s Treasuries Hoard Seen as Next Line in the Sand After Yuan’s Drop (B)
US declares China a currency manipulator, says it’s using yuan to gain ‘unfair advantage’ in trade (C)
China fires biggest warning shot yet in trade war and now it’s up to Trump to decide how far to go (C)
Beijing Risks Economic Self-Harm by Weaponizing the Yuan (W)
Latest US-China tensions could be the trade version of ‘the end of the world as we know it’ (C)
Promotions and patriotism: ‘Battle Mode’ Huawei sees China smartphone sales surge (R)

Geopolitics: China & Hong Kong
‘Prepared to Die’: Hong Kong Protesters Embrace Hard-Core Tactics, Challenge Beijing (W)
Hong Kong Crisis Escalates as Clashes Intensify and Spread (W)
Police battle protesters as strike paralyses Hong Kong (R)

Geopolitics: Other
North Korea Fires More Projectiles, Questions Talks With Trump (B)
Putin Says Russia Will Spy on U.S. to Match Missile Development (W)
Berlin: Don’t see Germany taking part in U.S. naval mission in Strait of Hormuz (R)
Iran says will not tolerate ‘maritime offences’ in Gulf (R)
India scraps special status for Kashmir in step Pakistan calls illegal (R)
Palestinian app helps drivers avoid Israeli checkpoint bottlenecks (R)

Industries & companies
Autos: Car dealers struggle to sell 2018 new-car inventory to make room for 2020 cars (C)
Financials: World’s Biggest Banks Sink to Record Lows as China Pain Spreads (B)
Restaurants: Restaurants, Food Makers Find Consumers Are Willing to Pay Higher Prices (W)

Corporate finance
GateHouse Media Parent to Buy Gannett for $1.4 Billion (W)
Barneys Nears Bankruptcy Filing With Plans to Close Most Stores (W)

Cybersecurity
Senator Asks Amazon for More Details on Capital One Hack (W)
Marriott Take $126 Million Charge Related to Data Breach (W)

Technology
New Japanese Flying Car Gets Off the Ground, for About a Minute (B)
Have No Fear of Facial Recognition (W)
Elon Musk to launch China unit for tunneling company this month (R)

August 05 (Monday)

Markets
China vows fight against Trump’s latest tariffs as stocks sink (R)
It’s Not Just the Fed and Trump That Trouble the Stock Market (B)
Resurgent Volatility Shows Why Distrust of Stocks Runs So High (B)
Traders are betting big on a sudden drop in stocks and it’s starting to pay off (C)
Morgan Stanley Turns Gloomier on Emerging Market Debt (B)
Putin’s Pledge to Ditch the Dollar Is Slowly Becoming a Reality (B)

Central banks
Growth Fears Push Investors to Renew Bets on Rate Cuts (W)

US
The Problem With Inflation: It Often Doesn’t Exist (W)
Corporate profits have soared and workers from Amazon to United Airlines are now demanding their cut (C)

Japan
Where Rolling Out a Sales-Tax Bump Requires a Certain Finesse (W)

US politics & gun violence
Politicians grieve for El Paso victims, with Democrats decrying GOP inaction on gun laws (WP)
Gun Control Is Thrust Into 2020 Campaign, but Laws Face Hurdles (W)
Democrats Criticize Trump’s Rhetoric After Shootings in Texas and Ohio (B)
Back-to-Back Bursts of Gun Violence in El Paso and Dayton Stun Country (N)
White House Weighs September Rollout of Health Plan (W)

Geopolitics: China & Hong King
Hong Kong Protests Rage for Ninth Weekend, Driven by Political Stalemate (W)
Hong Kong government: protests are pushing city to ‘extremely dangerous edge’ (R)
Hong Kong police fire tear gas as city is again roiled by protests (R)
Paramount and paranoid: China’s Xi and the Communist Party face a crisis of confidence

Geopolitics: China & trade
Trump Says Things Going ‘Well’ With China After New Tariff Shock (B)
Trump reportedly overruled advisors in decision to slap tariffs on remaining Chinese imports (C)
China destabilizing Indo-Pacific: U.S. Defense Secretary (R)
U.S. Defense Secretary says he favors placing missiles in Asia (R)
Beijing is prepping for a massacre in Hong Kong: time for the West to put human rights ahead of free trade (P)
Defying U.S. Sanctions, China and Others Take Oil From 12 Iranian Tankers (N)

Industries & companies
FAANGs: Why the coming sabbatical of Amazon’s Hollywood chief has Wall Street on edge (C)
FAANGs: Apple is spending more than ever on R&D to fulfill the ‘Tim Cook doctrine’ (C)
FAANGs: How Facebook failed to break into hardware: The untold story of Building 8 (C)
Financials: Banks Confront Fed on Faster Financial Payments (W)
Logistics: FedEx, UPS Find Formula for Delivering Seven Days a Week: Discount Sunday Drivers (W)
Retail: Overstored and Undershopped (BR)
Tech: IBM Promises Earnings Boost From Red Hat Deal Starting Next Year (W)
Tech: HP Inc. Is Still Printing Big Bucks (BR)
Utilities: Utility Stocks Still Make Sense (BR)

Corporate finance
Data Boom Fuels LSE’s Deal With Refinitiv (W)

Cybersecurity & technology
How the Capital One Hacker Stole Data From the Cloud (W)
Israeli army in no rush to go fully robotic (R)

Offbeat
Buffett Steers Clear of Buying Stocks; Berkshire’s Cash Pile Hits a Record (B)
Everything you thought you knew about gravity is wrong (WP)
Einstein showed Newton was wrong about gravity. Now scientists are coming for Einstein. (N)

August 03 (Saturday)

Markets
Stocks fall on trade war fears, sending the S&P 500 to its worst week of 2019 (C)
Is the ‘Powell Put’ Enough to Counter Trump’s Trade War? (B)
‘Chugging Along at a Slower Pace’: Traders on Employment Data (B)
Opinion: Here’s the real reason U.S. stocks are losing ground right now (MW)

US
Job Growth Slows in July but Remains Solid (N)
Here’s where the jobs are — in one chart (C)
U.S. Consumers Remained Positive in July (W)
U.S. Goods Trade Deficit With China Reaches Five-Month High (B)

US politics
Robert Mueller’s Russia probe cost nearly $32 million in total, Justice Department says (C)

Geopolitics & trade
Beijing responds to Trump’s new $300 billion tariff threat (C)
China Faces Limited Options to Retaliate to Latest U.S. Threat (W)
China Wants to Hit Back at Trump. Its Own Economy Stands in the Way. (N)
Tariff Fight Costs China Spot as Top U.S. Trading Partner (W)
Trump announces deal to expand US beef exports in the EU — and jokes about Mercedes, BMW tariffs (C)
Trump Announces German Car Tariffs, But Adds: ‘I’m Only Kidding’ (B)
North Korean Missile Tests Break U.N. Rules, Trump Says—But Not His Agreement With Kim (W)

Industries & companies
Autos: Honda Reduces Production of Sedans as U.S. Buyers Favor Trucks, SUVs (W)
Energy: Gas Glut Weighs on Oil Giants (W)
Energy: Big Oil’s Big Bet on Natural Gas Has Been a Big Headache (B)
Financials: Banks’ Cloud-Computing Practices Face Fed Scrutiny (W)
Financials: Wells Fargo to Tech Vendors: Please Send Us a Check (W)
Industrials: IBM lowers 2019 earnings guidance after closure of Red Hat purchase (C)
Media: Disney and Charter blow through deadline but keep talking about a new carriage agreement (C)

Corporate finance
CBS, Viacom Reach Tentative Deal on Team to Lead a Combined Company (W)

Cybersecurity
Capital One Breach Highlights Shortfalls of Encryption (W)

August 02 (Friday)

Markets
Stocks, Bond Yields, Oil Fall on New China Tariffs (W)
Brutal 48 Hours for Stock Traders Caught in the Trump-Powell Squeeze (B)
Stock Traders Have Theories About the Timing of Trump’s Tariff Tweet (B)
Treasury Yields Dive to Lowest Since 2016 as Trade War Escalates (B)
China Bond Defaults Rebound Further in July (B)
Tariffs Trigger Glut Fears, Sending Oil to Biggest Drop in Four Years (W)

Central banks
Trump’s new tariffs may set stage for more Fed rate cuts (R)
Fed’s Conundrum: Can Lower Rates Combat Investment Chill (W)
Does Jerome Powell really believe what he’s saying about rate cuts? (NN)
BOE Chief Warns Messy Brexit Would Pressure Global Economy (W)

US
U.S. Manufacturing Slipped in July (W)
Going Out of Style: Tax-Driven Deals to Move Corporate HQs Outside U.S. (W)
Families Go Deep in Debt to Stay in the Middle Class (W)

US politics
Democratic Debates Leave Trio of Presidential Battles (W)
Joe Biden Defends Obama Legacy Against Democratic Criticism (B)
Senate Passes Two-Year Spending Deal That Suspends Debt Ceiling (W)
Comey Won’t Be Prosecuted Over Release of Classified Information (W)

Geopolitics & trade
Trump Ratchets Up Trade War With New China Tariffs (B)
China’s Army Just Released a Video Showing Soldiers Practicing Shooting Protesters (WP)
Hong Kong protests: Head of China’s military garrison condemns violence (NN)
U.S.-China Trade War May Finally Be Coming for Apple (B)
Your Next iPhone Might Be Made in Vietnam. Thank the Trade War. (N)
Next to Protest Against Hong Kong’s Government: Its Employees (N)
U.S., Japan Edge Closer to Limited Trade Pact (W)

Industries & companies
Autos: Trucks Shield Detroit Auto Makers From Global Headwinds (W)
FAANGs: FTC Antitrust Probe of Facebook Scrutinizes Its Acquisitions (W)
FAANGs: Fed Examined Amazon’s Cloud in New Scrutiny for Tech (W)
Industrials: GE’s New Billion-Dollar Problem? Boeing’s MAX (W)
Tech: Opinion: This growing tech giant is disguised as an unloved value stock (MW)
Wireless: Verizon Adds Wireless Customers at Faster Pace (W)

Corporate finance
WeWork Seeks $6 Billion Financing, Contingent on IPO Success (B)
Have Stock Buybacks Gone Too Far?

Cryptocurrency
Crypto Tax Avoiders Face IRS Roulette: Fess Up or Try Hiding (B)

Technology
People With Autism Are Hot Hires for AI Jobs (W)

Offbeat
Campari Sells ‘Most Expensive Home on Earth’ at 43% Discount (B)
Duped by a Robocall From Overseas? It Was Legal (W)

August 01 (Thursday)

Markets
The two words from Jerome Powell that rocked the financial markets (C)
Powell Smashes Yield Curve Flatter by Sowing Doubts on Rate Cuts (B)

Central banks
Federal Reserve Cuts Interest Rates in Bid to Bolster Economy (W)
Fed Chairman Powell says rate move was a ‘midcycle adjustment,’ hinting more cuts not a guarantee (C)
Powell Says Fed Cut Not Start of Long Series, Drawing Trump’s Ire (B)
Trump says Fed Chief Powell ‘let us down’ by not clearly signaling more rate cuts (C)
Wrongfooted by Fed, World’s Few Hawks Now Stuck With Lower Rates (B)
German Opponents of ECB’s Crisis Strategy Make a Last Stand (W)

US
U.S. Private Sector Added 156,000 Jobs in July (W)

Europe
Europe’s Stalling Economy Sounds Alarm for Global Growth (W)
U.K. Allocates Extra $2.6 Billion to Prepare for No-Deal Brexit (B)

US politics
Trump to Sign Medicare Order as Part of Attack on Democrats’ Health-Care Message (W)

Geopolitics & trade
Slow Progress in Trade Talks Is Partly a Result of China’s New Tactic to Wait (W)

Industries & companies
Aerospace: Regulators Found Risk of Emergency After First Boeing MAX Crash (W)
Consumer: High-Tech Diapers Test How Much More Mom and Dad Will Pay (W)
FAANGs: Apple and Fitbit numbers show smartwatches turning into a winner-take-all market (C)
Financials: MetLife, Prudential Report Big Profit Gains (W)
Industrials: GE Posts Quarterly Loss but Raises Forecasts (W)
Media: Networks Sue to Stop Streaming Service Offering Free TV Feeds (W)
Tech: Qualcomm Outlook Weighed Down by Weak Smartphone Demand (B)

Corporate finance
Nordstrom Family Prepares New Proposal to Increase Stake in Retailer (W)

Cybersecurity
FBI Examining Possible Data Breaches Related to Capital One (W)
FTC Says ‘Overwhelming’ Number of Equifax Claims Means Consumers Likely Won’t Get $125 (W)

Offbeat
A-listers flock to Google summit in private jets, mega yachts to talk climate change
New Age Marianne Williamson is breakout winner of Democratic debate (P)

July 31 (Wednesday)

Markets
Markets Are Eerily Quiet Right Now (W)
Pound Pushed Toward Historic Low as Investors Fret Over Brexit (W)

Central banks
Undeclared Currency War: How ECB Forces Fed’s Hand (W)
The Confusing Federal Reserve (W)

US
Confident Consumers Keep Spending Amid Soft Inflation (W)
Moderate U.S. consumer spending, inflation back Fed rate cut (R)
Mortgage Rates Were Falling Before Fed Signaled Rate Cut (W)
Home-Price Gains Continued to Slow in May (W)
Seven cities see home prices heating up again, but Seattle sinks, according to S&P Case-Shiller (C)

China
China’s Profit Warnings Signal More Gloom for the Economy (B)

US politics
Trump Calls Baltimore Government ‘Corrupt,’ Urges Investigation (W)

Geopolitics & trade
Trump warns China against delaying trade deal as talks resume (R)
Multinational companies are getting clobbered by Trump’s tariffs (C)
Sony Warns of PlayStation Price Rise if U.S. Expands China Tariffs (W)
China Says Majority of Xinjiang Detainees Released, but Activists Doubt Claim (W)
North Korea Fires Multiple Projectiles, South Korea Says (B)
Huawei Shows Resilience in Face of U.S. Blacklisting (W)

Industries & companies
Consumer: P&G Posts Strong Sales Even as It Raises Prices (W)
Consumer: Mondelez Raises Yearly Forecast as Cookies and Chocolate Help Results (W)
Consumer: No more cardboard boxes? 3M invents an ingenious new way to ship products
FAANGs: Apple rises on earnings beat (C)
FAANGs: Apple’s iPhone sales miss estimates, down 12% versus last year (C)
FAANGs: Apple Projects Revenue That Tops Estimates on New iPhone Models (B)
FAANGs: Amazon Pushes Brands to Be Less Boxy (W)
FAANGs: For Facebook and Alphabet, Big-Ticket Fines Cause Limited Pain (W)
Health Care: Big Tech is teaming up with health care companies to make it easier for you to see your health history (C)

Corporate finance
States’ Lawsuit Muddles T-Mobile and Sprint Deal Plans (W)
WeWork is in talks to acquire start-up SpaceIQ as it pushes into software ahead of IPO (C)

Cybersecurity
The Capital One breach is unlike any other major hack, with allegations of a single engineer wreaking havoc (C)
Capital One Breach Casts Shadow Over Cloud Security (W)

Offbeat
Sears Retirees’ Life Insurance Payouts Could Be Just $135 Each (B)
Wealthy Parents Transfer Guardianship of Teens to Get Aid (W)

July 30 (Tuesday)

Markets
S&P 500 Ticks Lower as Expected Fed Rate Cut Looms (W)
Strong Earnings Allay Fears Over Trade and Growth—for Now (W)
More Exchanges Add ‘Speed Bumps,’ Defying High-Frequency Traders (W)
Pound Falls Against Dollar Amid Brexit Fears (W)

Central banks
Trump Criticizes Expected Fed Rate Cut as ‘Not Enough’ (W)
If the Fed cuts rates this week, it could widen a growing rift within the central bank (C)
A Fed interest rate cut is in the bag. What then? (R)
Fed Prepares Rate Cut Amid Worries About Low Inflation (W)

US
U.S. auto sales seen slipping in July – J.D. Power, LMC Automotive (R)
U.S. More Than Doubles Borrowing Estimate on Debt-Limit Lifting (B)
Refinancing Boom Boosts Mortgage Lending (W)

US politics
Trump administration proposes rule requiring hospitals to publish the prices negotiated with insurers (C)
Kamala Harris proposes cancelling $20,000 in student debt for these low-income borrowers, unleashing backlash on Twitter (MW)
Treasury to Borrow Over $1 Trillion in 2019 for Second Year in a Row (W)

Geopolitics & trade
Sen. Elizabeth Warren wants to dramatically rewrite the rules on negotiating trade deals (C)

Industries & companies
Aerospace: Boeing better get its ‘s— together,’ Ryanair CEO warns as 737 Max grounding drags on (C)
Airlines: United Airlines Adds Biometric Clearance for Passengers (W)
FAANGs: Facebook Watch Draws More Advertisers—Gradually (W)
FAANGs: Surescripts ups its battle with Amazon PillPack: ‘We are turning the matter over to the FBI’ (C)
Health Care: Hospitals May Be Forced to Disclose Discount Rates Negotiated With Insurers (W)
Media: Netflix Splurges on Big-Budget Movies (W)
Pharma: Pfizer to Merge Off-Patent Drug Business With Mylan (W)
Pharma: For Many Diabetes Patients, Skin Patches and Phones Are Replacing Finger Pricks (W)
Tech: Cloud Computing Is Here. Cloud Recycling Is Next. (W)
Tech: DOJ’s tech probe needs to be mindful of corporate harassment (N)

Corporate finance
Companies are ramping up share buybacks, and they’re increasingly using debt to do so (C)
Beyond Meat posts mixed quarterly results, announces secondary share offering; stock dives (C)

Cybersecurity
China’s Cybersecurity Regulations Rattle U.S. Businesses (W)

July 29 (Monday)

Markets
With Stocks at Fresh Highs, Investors’ Portfolios Look Alike (W)
Fewer investors have a ‘fear of missing out,’ so it may be time to buckle up, market bull suggests (C)
Passive investing boom could be causing a market bubble, but not in the stocks you would expect (C)
Emerging-Market Gains at Mercy of Fed as Trade Talks Simmer On (B)
Chinese High-Yield Debt Is a Rare Bright Spot for Bond Investors (W)

Central banks
The Home of Ultra-Low Rates Has a Warning for the World (B)
The Fed is about to cut rates for the first time since 2008 as trade war weighs on economic growth (C)
A Key Reason the Fed Struggles to Hit 2% Inflation: Uncooperative Prices (W)

US
Is a Recession Coming? The Indicators Say Otherwise (BR)
Get Ready for the World Economy’s Biggest Week of 2019 (B)
Financial Crisis Yields a Generation of Renters (W)

Europe
Assuming EU will not budge, Britain ramps up preparations for no-deal Brexit (R)

Emerging
Hong Kong Clashes Flare, Sparking Fears for Territory’s Future (W)

US politics
Trump Taps Mueller Inquisitor Ratcliffe as Intelligence Head (B)
From abolishing private insurance to tariffs, here are the top business issues to watch in the second 2020 Democratic debate (C)
U.S. Supreme Court lets Trump use disputed funds for border wall (R)

Geopolitics & trade
Iran Rebuffs European Efforts to Defuse Gulf Tensions (W)
China Trade Talks Set to Resume With Modest Expectations (W)

Industries & companies
Aerospace: Boeing MAX Pain Spans Globe, Hurting Carriers’ Profit and Growth (W)
Autos: Hybrid Vehicles Could Drive the Auto Industry’s Next Decade (BR)
Autos: ‘The Minivan Is Out of Style’; Sales Fade as SUVs Gain Traction (W)
Pharma: Pfizer Nears Deal to Combine Off-Patent Drug Business With Mylan (W)

Offbeat
‘Deepfakes’ Trigger a Race to Fight Manipulated Photos and Videos (W)

July 27 (Saturday)

Markets
S&P 500, Nasdaq notch another record close after strong earnings from Alphabet, Starbucks (C)
Trump Rejected Proposal to Weaken Dollar Through Market Intervention (W)

Central banks
The Fed is about to cut rates to protect the economy, even though most signs are strong (C)

US
Economic Growth Slows to 2.1% (W)
Growth Didn’t Hit 3% Mark Last Year, Revised Data Show (W)

US politics
Supreme Court Clears Trump to Build 100 Miles of Border Fencing (B)

Geopolitics & trade
Trump Says China May Delay Trade Deal Until After 2020 Elections (B)
Trump Presses WTO to Change China’s ‘Developing Country’ Status (W)
China Needs New Places to Sell Its Mountain of Stuff (N)
Trump says he ‘might’ put tariffs on French wine in response to digital tax (C)
Kudlow: ‘I wouldn’t expect any grand deal’ on China (C)

Industries & companies
FAANGs: Amazon CEO Jeff Bezos has kept the same message to Wall Street for 22 years (C)
FAANGs: Amazon’s Streak of Record Profit Ends (W)
FAANGs: Apple’s credit card is on track to launch in early August (C)
Restaurants: Upgraded Stores Boost McDonald’s Sales (W)
Tech: Tech Backlash Frays Cozy Ties to Washington (W)
Tech: SoftBank Rolls Out Second, Even Bigger Tech Megafund (W)

Cryptocurrencies
The IRS is warning thousands of cryptocurrency holders to pay their taxes (C)

Corporate finance
Justice Department Approves Merger of T-Mobile, Sprint (W)