Dr. Ed's Blog

July 15 (Monday)

Markets
Playing the Fed’s Next Rate Move (BR)
Small-Cap Stock Picks for an Expensive Market, According to Delphi’s Scott Black (BR)
The Black Hole Engulfing the World’s Bond Markets (B)
Bond Returns Have Been Spectacular. Don’t Count on a Sequel. (N)
2019 Midyear Roundtable: Where to Find Value Now (BR)

US
It’s Past Time to Train Americans for the New Economy, Goldman’s Abby Joseph Cohen Says (BR)

Europe
How to defuse the threat that Matteo Salvini poses to the euro (E)

US politics
Pelosi sets spending demands for two-year budget deal (R)
Trump Renews Attack on ‘Weak, Ineffective’ Ex-Speaker Paul Ryan (B)

Geopolitics & trade
Pressures On China’s Manufacturing Sector Will Impact The West
Huawei Plans Deep Job Cuts in U.S. (W)
A Cold War With China Has Already Started, Epoch’s William Priest Says (BR)

Industries & companies
FAANGs: FTC Fine Alone Won’t Get Facebook Out of Crosshairs (W)
Retail: Store closures accelerate and may top 12,000 in 2019. Here’s what’s closed so far this year (C)
Retail: Barneys explores possible July bankruptcy filing as it grapples with rent hike at Manhattan flagship (C)
Tech: Snap’s stock is up more than 200% from its low and is a huge winner in 2019 (C)

Offbeat
Facial Recognition Tech Is Growing Stronger, Thanks to Your Face (N)
A Mutual Fund That Succeeds by Taking the Emotion Out of Investing (BR)
50 Years After the Moon Landing, the Space Economy Is Starting to Take Shape (BR)

July 13 (Saturday)

Markets
A Stock Market Dying to Know What Powell Knows About the Economy (B)
U.S. Stocks Close Out Week With More Gains (W)
These are the stocks Wall Street analysts believe will lead the Dow to 28,000 (C)
The next big risk that could end the stock rally is here (C)
Tropical Storm Barry Helps Spark Fuel-Price Rebound (W)

Central banks
Evans Says Two Fed Rate Cuts Could Bring Inflation to Goal (B)
Trump’s Criticism of the Fed Hasn’t Shifted Perception of Its Independence, Economists Say (W)
Takeaways From Fed Chief’s Two Days on Capitol Hill (W)
An economy gone ‘mad?’ The Fed is going to cut interest rates despite record stock prices, low unemployment (MW)
Opinion: The Fed is trapped by the Debt Zombie Apocalypse (MW)
Interest-Rate Cut Is What Matters Most for ECB, Danske Says (B)

US
U.S. producer prices rise marginally, suggest tame inflation (R)
Here are all the Recession Warning Signals That Have Already Gone Off
There Are Too Few Companies and Their Profits Are Too High

Europe
German Companies From Deutsche Bank to BMW Grapple With Setbacks (W)

Geopolitics & trade
Turkey Receives Russian Missile System, Risking U.S. Sanctions (W)

Industries & companies
Consumer: J&J Says No Developments in Justice Probe Over Baby Powder (W)
Consumer: Johnson & Johnson Denials of Asbestos in Baby Powder Spur Criminal Probe (B)
FAANGs: Facebook to be slapped with $5 billion fine for privacy lapses, say reports (C)
Media: Critics split on whether ‘The Lion King’ is revolutionary or revolting—but moviegoers will still show up (C)

Corporate finance
VW Ups Its Investment in Ford’s Self-Driving Car Unit (W)
Anheuser-Busch InBev Calls Off IPO of Asia Unit (W)

Offbeat
Beyond the Confetti: The Dark Side of Startup Success (W)

July 12 (Friday)

Markets
Why Stocks Are Hitting Records as Economic Fears Rise: ‘There Is No Alternative’ (N)
Health-Care Rally Helps Lift Dow Over 27000 (W)
Why everybody is concerned about corporate-bond liquidity (E)

US
U.S. Consumer Prices Increased in June (W)
Stronger Inflation Data Lift Treasury Yields (W)

Central banks
Powell Says Fed Has Room to Cut, May Have Kept Policy Too Tight (B)
Fed’s Powell affirms rate cut view; others see U.S. economy humming (R)
Fed’s Williams Joins With Other Officials Leaning Toward Rate Cuts (W)
Two Fed Regional Chiefs Say a July Rate Cut May Not Be Warranted (B)
The Federal Reserve will do whatever it takes to keep this boom going (MW)
Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve (C)
Opinion: The Fed doesn’t have to cut rates — but it can in order to help the middle class (MW)

US politics
Trump to Direct Agencies to Provide Data on Citizenship (W)
Biden Has Poll Lead After First Democratic Debates (W)

Geopolitics & trade
France Presses On With Digital Tax Despite U.S. Probe (W)
Japan’s Restrictions on South Korean Chip Makers Backfire (W)

Industries & companies
Aerospace: Boeing 737 program manager is retiring as Max jet remains grounded (C)
FAANGs: Apple Pulls Watch App After Finding Eavesdropping Glitch (W)
FAANGs: Google Contractors Listen to Virtual-Assistant Conversations (W)
FAANGs: Amazon to Retrain a Third of Its U.S. Workforce (W)
Pharma: Big Pharma won’t like Trump’s next move after rebate rule is abandoned, investors fear (C)
Retail: Jim Cramer introduces ‘WATCH,’ his top 5 retailers with scale (C)
Retail: Nike to Proceed With Phoenix-Area Factory After Betsy Ross Flap (B)
Tech: Trump Attacks Big Tech at Social-Media Summit (W)
Tech: Samsung’s Galaxy Note 10 revealed in these leaked photos (C)

Corporate finance
T-Mobile-Sprint Talks Slow Over Dish Ownership (W)
VW to Invest in Ford-Backed Argo AI at $7 Billion Valuation (B)

Technology
Computers Can Now Bluff Like a Poker Champ. Better, Actually. (W)

Offbeat
Income Options Are Coming to 401(k) Plans (W)

July 11 (Thursday)

Markets
Stocks Leap to Records Following Powell’s Comments (W)
Videogames and Two-Day Delivery Powered the S&P’s Rise to 3000 (W)
These are the stocks that have led the S&P 500′s five-year run to 3,000 from 2,000 (C)
Rex Nutting: Trump and the stock market are spooking Powell into making this rookie mistake (MW)
Here’s how many points a U.S.-China trade deal is worth to the S&P 500, according to J.P. Morgan’s top strategist (MW)

Commodities
Oil Hits Seven-Week High on Falling Supplies (W)
Iron-Ore Prices Have Surged Almost 70%, Hitting Steelmakers (W)

Central banks
Powell Sounds Dovish Enough to Open Door for a Half-Point Cut (B)
Powell Sends Strong Signal of Possible Fed Rate Cut in July (W)
Powell remarks, Fed meeting highlight case for ‘insurance’ (R)
Fed’s Powell explains why a return to the gold standard would be so damaging to the economy (C)
Fed chief calls for Facebook to halt Libra project until concerns addressed (R)
Fed’s Bullard says Trump’s Fed pick Waller is ‘his own person’ (R)

US
A Record Expansion’s Surprise Winners: The Low-Skilled (W)

China
No Turnaround in Sight for China Car Sales (W)

Geopolitics & trade
Trump Makes Fresh Threats Against Iran Over Its Nuclear Program (W)
Mnuchin Urges U.S. Firms to Seek Huawei Exemptions (W)
U.S. to Investigate French Plan for Tax on Tech Giants (B)

Industries & companies
FAANGs: The tech industry is starting to doubt Facebook will be able to launch its Libra currency by 2020 (C)
Financials: U.S. Investigates Deutsche Bank’s Dealings With 1MDB (W)
Media: Newbies Pay $15 Million an Episode to Stand Out in Packed Streaming Market (W)
Media: Apple Music, Spotify Tap Live Events to Stand Out (W)
Tech: Social-Media Summit Likely to Target Big Tech Companies (W)

Corporate finance
The 2019 IPOs will have a correction ‘sooner or later,’ Jim Cramer warns (C)
With Wall Street’s Secret Shackles Gone, Dimon Prowls for Deals (B)
Once a Miser, Japan Inc. Is Opening Its Wallet to Buy Back Shares (W)

Offbeat
Storm could become first hurricane of season and is already shutting down energy operations (C)
PG&E Knew for Years Its Lines Could Spark Wildfires, and Didn’t Fix Them (W)
US lawmakers look to legalize pot in ‘historic’ marijuana reform hearing (C)

July 10 (Wednesday)

Markets
Markets Are Calm, Then Suddenly Go Crazy. Some Investors Think They Know Why. (W)
Investors Shouldn’t Get Used to Good News Hurting Stocks (W)
Government Bond-Market Measure Says Recession Risk Growing (W)
The Bond Rally Is So Wild Investors Are Piling Into Italy’s 50-Year Debt (B)
Traders Are Certain the Fed Will Cut in July, But Unsure What’s Next (B)

Central banks
Powell’s Approach to Interest Rates Wins Bipartisan Backing (W)
Fed chief faces tough task in Congressional testimony: ‘Walking a tightrope over Niagara Falls’ (C)

US
U.S. Job Openings Slipped in May to 7.3 Million (W)
Opinion: Employment is a good — not perfect — indicator of economic growth (MW)
The housing market is about to shift in a bad way for buyers (C)
Homeowners in U.S. Hold Back on Selling as Buyers Get Pickier (B)
Missing Spending Stimulus Weighs On U.S. Growth (W)
No, Americans Are Not Worse Off Today Than They Were in the 1970s

US politics
Biden Earned $15.6 Million in Two Years After Leaving Office (W)

Emerging
Mexico Finance Minister Resigns in Surprise Move; Peso Falls (W)

Geopolitics & trade
U.S., China Tentatively Move to Revive Trade Talks (W)
Lighthizer, Mnuchin spoke with Chinese Vice Premier Liu He on Tuesday (C)
Ross Perot’s Warning of a ‘Giant Sucking Sound’ on Nafta Echoes Today (N)

Industries & companies
Aerospace: Airbus Poised to Overtake Boeing as Biggest Plane Maker (W)
Consumer: PepsiCo Rides New Flavors and More Ads (W)
FAANGs: Big Tech Summoned to Washington for Antitrust Hearing (W)
Financials: Fed Wants to Teach Banks Through Stress Tests, Not Fail Them (W)
Media: ‘Friends’ to Move to HBO Max, WarnerMedia’s Streaming Service (W)
Media: Netflix has now lost two of its most popular shows as old media companies flex their muscle (C)

Corporate finance
Cisco to Buy Acacia Communications for About $2.6 Billion (W)
IBM Closes Its Red Hat Purchase, a Deal With High Stakes for Rometty (W)
Piper Jaffray to Buy Sandler O’Neill for $485 Million (W)

Cryptocurrencies
Facebook’s head of Libra crypto project tells Senate it needs help from governments and regulators (C)

July 09 (Tuesday)

Markets
Stocks Fall as Prospects of Aggressive Fed Rate Cuts Recede (W)
Dow falls more than 100 points as Apple leads tech slide (C)
If the S&P 500 hits this level, it could signal a market top (C)
During Stock Rally, Nervous Investors Buy Bonds, Too (W)
Fed Expectations Trigger Record Run of Outflows in Leveraged Loans (W)

Central banks
Cramer: Powell needs to defend the Fed’s independence on Capitol Hill this week (C)

US
Weaker growth will offset a Fed rate cut — so sell stocks, warns Morgan Stanley (MW)
Apartment rental demand soars as more millennials believe it’s cheaper than owning a home (C)
U.S. Consumer Borrowing Climbs on Bigger Credit Card Balances (B)
$15 minimum wage would boost pay for 17 million but 1.3 million would lose their jobs, CBO says (C)

China
Heavy Debt Humbles China’s Business Champions, Including the Jewelry Queen (W)

US politics
Eric Swalwell will be the first prominent Democrat to drop out of the 2020 presidential race, reports say (C)
Elizabeth Warren raises $19 million in second quarter, ahead of Sanders but behind Biden (C)

Geopolitics & trade
Iran’s Breach of Nuclear Pact Tests European Resolve (W)
Why the U.S. Should Remain Protector of World Oil Flows (W)

Industries & companies
Consumer: P&G, in Search of New Markets, Is Going After Bugs (W)
FAANGs: Amazon workers are reportedly planning a Prime Day protest (C)
Financials: Deutsche Bank Shares Fall Sharply on Restructuring (W)
Financials: Deutsche Bank Layoffs Begin as Workers Feel Turnaround Plan’s Impact First (N)
Tech: Samsung Expects Operating Profit to Fall More Than 50% (W)
Tech: Apple ‘fundamental deterioration’ to last into 2020, analyst predicts (MW)

July 08 (Monday)

Markets
The Stock Market May Be Pointing to Trump’s Reelection (BR)
The week ahead: Powell’s testimony could make or break the stock rally (C)
Does the Federal Reserve Rule the Markets, or Is It the Other Way Around? (BR)
The U.S. Is Overflowing With Natural Gas. Not Everyone Can Get It. (W)
Copper an Outlier as Most Markets Rebound on Trade (W)

Funds
How Fund Managers Are Investing in China While Bracing for Conflict (BR)
‘Pay-to-Play’ by Mutual Fund Companies and Brokerages Is Hurting Investors. Here’s How. (BR)

Central banks
Trump isn’t the first president to try to influence the Federal Reserve (NBC)

US
U.S. Hiring Bounces Back, Easing Fears of a Jobs Slowdown (W)
The Myth of the Tight U.S. Labor Market (B)

China
China Is Wrestling With a Changing World. Don’t Underestimate the World’s Second-Largest Economy (BR)

Europe
For Europe, There’s an Upside to Germany’s Slowdown (W)
SocGen Chairman Warns Economic Risks Are Building in Europe (B)
Greek prime minister-elect: ‘It’s an important victory for Europe, not just for Greece’ (C)
Greek Opposition Leader Mitsotakis Seals Sweeping Victory (B)
EU Must Agree on Lagarde’s IMF Replacement, French Official Says (B)
EU Officials Are Considering Mark Carney for Top IMF Job (B)

Geopolitics & trade
The Trump Tariff Twist That’s Cost U.S. Steel $5.5 Billion (B)

Industries & companies
Aerospace: Boeing Loses MAX Deal to Airbus (W)
Autos: SUVs Are Bumper-to-Bumper on Dealer Lots, With More on the Way (W)
Consumer: Campbell Tries to Reheat Soup Sales (W)
FAANGs: Spurred by Amazon, Supermarkets Try Swapping Cashiers for Cameras (W)
Financials: Deutsche Bank will exit global equities business and slash 18,000 jobs in sweeping overhaul (C)
Tech: Samsung Expects Operating Profit to Fall More Than 50% (W)

Corporate finance
Broadcom Moves Closer to Acquiring Symantec (B)
Investors Are Finally Pushing Back on Corporate Debt Issuers (BR)
WeWork to Raise Billions Selling Debt Ahead of IPO (W)
The rise and rise of private capital (E)

Offbeat
California Assesses Damage After Second Powerful Earthquake Hits (W)
No, it’s not just you, New Yorkers and San Franciscans: Urban housing markets all over the world have grown way too expensive (MW)
For most Americans, $1.7 million is the magic retirement number (C)

July 06 (Friday)

Markets
Strong June jobs report sends stocks lower—5 experts explain what comes next (C)
El-Erian: The market has ‘gotten carried away’ with its Fed rate cut predictions (C)
The week ahead: Powell’s testimony could make or break the stock rally (C)

Central banks
Jobs Report Weakens Case for Larger Fed Rate Cut This Month (W)
Fed Debate Shifts From Large Cut to Whether to Cut at All (B)
Trade War May Be Slowing Business Spending and Factories, Fed Says (N)

US
U.S. Hiring Bounces Back, Easing Fears of a Jobs Slowdown (W)
Here’s where the jobs are — in one chart (C)
The longest expansion, but definitely not the greatest (The Hill)

US politics
Kamala Harris Fundraising in Middle of the 2020 Pack (W)

Geopolitics & trade
U.S. Says Trade Talks Resuming as China Demands End to Tariffs (B)
U.S. Calls for Special Meeting of U.N. Atomic Agency Over Iran (W)

Industries & companies
FAANGs: Amazon’s Deliveroo Investment Gets U.K. Watchdog’s Attention (W)
Pharma: Fast-Track Drug Approval, Designed for Emergencies, Is Now Routine (W)
Pharma: Trump Plans Order to Tie Drug Prices to Other Nations’ Costs (W)
Tech: Samsung Expects Operating Profit to Fall More Than 50% (W)

Technology
For U.S. Military Drones, Airspace Is Growing More Congested, Dangerous (W)

Corporate finance
The Fireworks Over Share Buybacks Are Duds (W)

Offbeat
Will Gen-Z Save the World? (N)
Feds seek $12.6 billion in drug money from ‘El Chapo’ (C)
Need Customer Service for an App? Prepare to Lose Your Mind (W)

July 03 (Wednesday)

Markets
U.S. Stocks Climb as Trade Stays in Focus (W)
Decline in Share Buybacks Poses Hurdle for Stock Market (W)
10-year Treasury yield falls back below 2%, global yields sink deeper into negative territory (C)

Central banks
IMF’s Lagarde Wins Support to Lead ECB (W)
Fed’s Mester: Too Soon To Say What Happens Next With Rates (W)

US
Auto Sales Slipped in First Half as Prices Surged (W)
Housing is providing another in a line of troubling signs pointing to an economic downturn (C)
How Congress can make housing affordable again (The Hill)
U.S. Wage and Job Growth Are Slowing, New Report Warns (B)

US politics
Kamala Harris Vaults Into Second Place as Joe Biden Slips After First Debate (B)
House Committee sues Treasury for Trump tax returns (C)
Who Got Refunds, Who Paid More: Inside the New Tax Law (W)

Geopolitics & trade
U.S. Threatens Further Tariffs on $4 Billion of EU Goods (W)
Japan, a Champion of Free Trade, Takes a Page From Trump’s Playbook (W)
Opinion: The trade war is over — and the winner is China, writes Howard Gold (MW)
How Poland became a front in the U.S.-China cold war (R)
What Trump’s Huawei Reversal Means for the Future of 5G (N)

Industries & companies
Autos: Tesla stock surges after setting new delivery and production records (C)
FAANGs: Amazon plans a 43-story skyscraper in Seattle suburb (C)
FAANGs: Facebook, YouTube Crack Down on Bogus Cancer Treatment Claims (W)
Retail: Retail Stocks’ Punishing Year Gets Worse (W)
Retail: Nike’s Betsy Ross controversy highlights new dangers lurking in old American icons (C)

Corporate finance
Budweiser Readies Year’s Biggest IPO, Tapping Asia’s Growing Thirst (W)
Slow Start to Year for M&A Gathers Force With June’s Flood of Deals (B)

Offbeat
An American Married Into a Political Family in China and Now She Can’t Leave (W)