Dr. Ed's Blog

May 28 (Tuesday)

Stocks
Ron Insana: The market doesn’t realize this is more than a trade war — it’s a new Cold War (C)
Stocks Rise in Wake of European Elections (W)

Credit
Risky Municipal Bonds Are on a Hot Streak (W)
Regulators, Investors Zero In on Corporate Debt Market (W)
A Convertible-Bond Boom in China Isn’t All Good News for Shareholders (W)

US
Poor Manufacturing Orders Point to Slower Economic Growth (W)
Trade Tensions Further Hurt Tractor Makers (W)
Four years, $13 million and dozens of hands: How ‘affordable housing’ gets made in America (MW)

Europe
In Parliament Elections, Populists Seek to Break the E.U. from Within (N)
European Elections Deepen Divisions in National Capitals (W)

India
Modi’s Re-Election Means More Scrutiny for U.S. Tech Giants (W)
Modi’s definitive win may mean a more assertive India (C)

US politics
How Trump Wins Next Year
Blue-state House members try to reclaim higher SALT deductions that were cut in Trump’s tax overhaul (C)

Industries & companies
Pharma: Drug Giant Tries New Tactic to Fight Cancer (W)
Tech: The hot trend in smartphones? Not buying a new one (C)

Geopolitics & trade I
U.S. ‘Not Ready’ to Make a Trade Deal With China, Trump Says (B)
Who’s Winning the Trade War (B)
Trump’s ‘Easy’ Trade War Hits Snags as China Plays the Long Game (B)
US and China aren’t facing ‘enough pain’ right now for them to strike a quick trade deal: UBS (C)
What tariffs do and why they’re working
China is indicating it’ll never give in to US demands to change its state-run economy (C)
U.S. Is Learning That China Likes Its Own Model (W)

Geopolitics & trade II
US takes aim at Chinese surveillance as the trade war becomes a tech war (C)
Trump’s Throttling of Huawei Could Backfire on U.S. Tech (B)
China Commits to Trade Talks Amid ‘Groundless’ Huawei Suspicions (B)
Huawei’s Yearslong Rise Is Littered With Accusations of Theft and Dubious Ethics (W)

Geopolitics & trade III
U.S. Weighs Letting Companies Seek New Penalties Over Currency Manipulation (W)
Trump says he hopes to announce a trade deal with Japan soon (C)
Trump Says Recent North Korean Missile Tests Didn’t Bother Him (W)

Corporate finance
Fiat Chrysler submits proposal for a merger with Renault (C)
Wall Street Isn’t Buying What Silicon Valley Is Selling (W)

Cybersecurity
In Baltimore and Beyond, a Stolen N.S.A. Tool Wreaks Havoc (N)

Offbeat
Slamming a whole generation is just lazy and cheap (P)
Trump Says He Agrees With Kim Jong Un That Biden Has ‘Low IQ’ (B)
Trump knocks Ian Bremmer for ‘completely ludicrous quote’

May 25 (Saturday)

YRI
Why Economist Gary Shilling Says the U.S. Will Win the Trade War

Markets
Dow Industrials Fall for Fifth Straight Week (W)
Three things could cause a ‘second wave’ in the market sell-off (C)
Currency Corner: why we all need to keep a close eye on King Dollar (MW)

US
Poor Manufacturing Orders Point to Slower Economic Growth (W)
Poof! Trump investment boom is gone (MW)
Florida Is the Big Winner as the Wealthy Move Out of Northern States (B)

Europe
Theresa May’s Resignation Leaves Brexit in Limbo (N)
In Race to Succeed Theresa May, Boris Johnson Leads the Field (W)

US politics
Trump Preparing Executive Order on Health-Cost Disclosure (W)

Geopolitics & trade
China Commits to Trade Talks Amid ‘Groundless’ Huawei Suspicions (B)
Trump Invokes Emergency Authority for Arms Sales to Saudis, U.A.E. (W)

Industries & companies
Aerospace: MAX’s Return to Flight Delayed by FAA’s Reevaluation of Safety Procedures for Older 737 Models (W)
FAANGs: Apple bought a start-up that was working on monitoring asthma in children (C)
FAANGs: Facebook Privacy Settlement Delayed by FTC Split (W)
Pharma: FDA approves Novartis’ $2.1 million gene therapy — making it the world’s most expensive drug (C)
Tech: Elon Musk’s SpaceX raises over $1 billion this year as internet satellite production ramps up (C)

May 24 (Friday)

Markets
Dow drops more than 250 points, continuing this month’s slide on trade war fears (C)
Oil Notches Biggest Plunge of 2019 as Demand Concerns Mount (W)
The bond market is sending a scary message of recession, rate cuts and an unending trade war (C)
Why ‘under-owned’ European stocks may be due for a rally (MW)

US
U.S. New-Home Sales Fell in April (W)
One-Quarter of Working Americans Have Zero Retirement Savings (W)

Europe
Eurozone Economy Slows as Demand for Exports Stalls (W)

US politics
Trump Gets White House Witnesses to Attest to His ‘Very Calm’ Demeanor (W)
The China trade war is leading to lower mortgage rates for American homebuyers (C)

Geopolitics & trade
Trump Gives Farmers $16 Billion in Aid Amid Prolonged China Trade War (N)
China’s Supply of Minerals for iPhones and Missiles Could Be a Risky Trade Weapon (N)
Latest China Tariffs Will Cost $831 per Household, Report Says (W)
Trump: ‘I can imagine Huawei being included’ in a US-China trade deal (C)

Industries & companies
Aerospace: To Get Boeing 737 Max Flying, Global Consensus Will Be Hard (N)
Tech: HP Reports Flat Revenue but Beats Wall Street Targets (W)
Tech: The Move to Make Hyperloop Travel a Reality (W)

May 23 (Thursday)

Markets
U.S. Stocks Close Lower as Chip Makers Decline (W)
Russian Pipeline Shutdown Shifts Balance in Oil Market (W)

Central banks
Fed Minutes Show Expectations That Soft Inflation Will Be Temporary (W)
Fed Pushes Back Against Rate Cuts That Markets Continue to Seek (B)

US
The real reason millennials are in such bad financial shape (WP)
More baby boomers stay in their homes as they reach retirement, skipping downsizing

Europe
EU’s New Headache: Skeptics Set to Gain Power From Within (W)

US politics
Trump Ends Bipartisan Effort Until Probes Finish (W)
Deutsche Bank Can Release Trump Records to Congress, Judge Rules (N)

Geopolitics & trade
The Trade War Is Hitting U.S. Companies in China. Here’s How Tough It Is. (BR)
Huawei Accuses U.S. of Bullying, Seeks to Enlist Europe’s Help (W)
Huawei executive accused of stealing trade secrets from chipmaker backed by Microsoft, Dell (C)

Industries & companies
FAANGs: Amazon Could Deliver Bad News for Uber (W)
Retail: Lowe’s Cuts Outlook as Profit Gets Squeezed (W)
Tech: Qualcomm Shares Hit by Ruling on Antitrust Violation (W)

May 22 (Wednesday)

Markets
U.S. Stocks Rise as Huawei Ban Is Delayed (W)
Real-Estate Stocks in High Demand as Trade Battle Brews (W)
Long-Short Strategies Are Finally Coming to China’s Stock Market (B)
Hybrid CDOs Are ‘Cheapest Thing in the Entire Globe,’ CSAM Says (B)

Central banks
Fed’s Rosengren Sees No Reason to Change Rate Policy Right Now (W)
Potential Fed nominee Judy Shelton wants a change in the way interest rates are set (C)

US
U.S. Existing-Home Sales Fell in April (W)
Existing Home Sales Appear to Be Muted More by Price Than Supply (B)

US politics
House Democrats Subpoena Hope Hicks, Former McGahn Aide Annie Donaldson (B)

Geopolitics & trade
U.S. Slows Hiring of Chinese Nationals by Chip Makers (W)
Chinese ambassador on trade talks: The US ‘changes its mind so often’ (C)

Industries & companies
Aerospace: Boeing Official Played Down Scenario That May Have Doomed Ethiopian Jet (W)
Retail: Big Retailers’ Sales Lag as They Gird for Increase in Tariffs (W)
Retail: A wave of retail earnings reports shows department stores still haven’t figured out how to get shoppers excited (C)

May 21 (Tuesday)

Markets
Stocks Dragged Down by Tech Sector (W)

Central banks
Negative Rates, Designed as a Short-Term Jolt, Have Become an Addiction (W)
Why former fed chair Alan Greenspan is wrong about inflation estimates (P)
Fed’s Williams Says It’s ‘Good’ Economy Can Have Strong Job Market Without Inflation (W)
Fed’s Harker: Monetary Policy Can’t Be Run on Rules Alone (W)

Japan
Japan Surprises With 2.1% Growth, but It’s Not All Roses (W)

Geopolitics & trade
China Warns About ‘Unwavering Resolve’ to Fight U.S. ‘Bullying’ (B)
US eases some restrictions on China’s Huawei, reportedly halting Google’s plans to cut access (C)
Opinion: Trump’s Huawei ban is hurting tech stocks — here’s what money flows are showing (MW)

Industries & companies
Autos: Ford to Cut 7,000 Jobs in Bid to Catch Up to Rivals (W)
Autos: Tesla in ‘Code Red Situation’ as Sell-Off Exceeds 20% (B)
FAANGs: Amazon Faces Investor Pressure Over Facial Recognition (N)
Retail: Good food is bringing people to the mall. And they’re spending more money when they get there (C)

Corporate finance
T-Mobile, Sprint Get Key FCC Backing, but Hurdles Remain (W)

Technology
Robots Take a Turn Leading Autism Therapy in Schools (W)

Offbeat
In Plastic-Bag Wars, the Industry Fights Back (W)

May 20 (Monday)

Markets
Despite Mideast Tensions, OPEC Inches Closer to Maintaining Production Cuts Through 2019 (W)

US
Spending Slowed as Companies Weighed Trade Concerns (W)
‘Playing Catch-Up in the Game of Life.’ Millennials Approach Middle Age in Crisis (W)
Heard on the Street: Millennial Home Buyers Might Never Come Knocking (W)

US politics
Trump Calls GOP Congressman a ‘Loser’ After Call for Impeachment (W)

Geopolitics & trade
Trump warns Iran not to fight the US: ‘That will be the official end of Iran’ (C)
The Trade War Is Here. Don’t Panic. (BR)
Trump and 2020 Democrats Stake Out Dueling Views on China Trade (C)
Google suspends some business with Huawei after Trump blacklist (C)

Industries & companies
Autos: Auto analysts worry Tesla fires could dampen electric car sales as industry ramps up EV production (C)
Autos: Fiat Chrysler’s Ram Is Gaining on Pickups From GM and Ford (W)
FAANGs: Amazon is spending billions on internet satellites, self-driving cars and more as revenue growth slows (C)
Media: Not Even Apple Can Clean Up the Mess of Streaming TV (W)
Pharma: Bayer’s Roundup Problem Sends Shares Spiraling Down (W)
Retail: Nordstrom Stock Is Now a Can’t-Miss Bargain (BR)

Corporate finance
Hewlett Packard Enterprise to Buy Supercomputer Builder Cray (W)

Offbeat
Resistance to Noncompete Agreements Is a Win for Workers (W)
Masayoshi Son claims to have a 300-year vision, but his bets suggest he’s making it up as he goes (C)
The 13 craziest slides that show SoftBank’s vision for the next 300 years (BI)

May 18 (Saturday)

Markets
The stock market fears more trade retaliation from China is coming next week (C)
‘No One Wants to Give In’: Stock Rally Is Too Tempting To Abandon (B)
High-Speed Traders Agree to Back New Stock Exchange (W)
The Trade War Has Sunk Emerging Markets. There’s More to Come. (B)

US
A third of middle-class adults can’t afford to pay for a $400 emergency (C)

China
China faces possible hit to credit rating if the trade war isn’t resolved (C)
‘China’s Google’ Posts First Loss Since 2005 (W)

US politics
Mnuchin Rejects House Panel’s Subpoena for Trump’s Tax Records (B)
Trump Says Freeing Fannie-Freddie From U.S. Control Is ‘Urgent’ (B)

Geopolitics & trade I
How Xi’s Last-Minute Switch on U.S.-China Trade Deal Upended It (N)
Trump Says U.S. Reaches Deal With Canada, Mexico to End Steel and Aluminum Tariffs (W)
Companies Focused on North American Trade Welcome Deal (W)
White House Delays Decision on Auto Tariffs for 180 Days (W)
Toyota Rebukes Trump for Sending Message That Carmaker ‘Not Welcomed’ in U.S. (B)

Geopolitics & trade II
US trade talks with China have stalled: Sources (C)
How Beijing became bigger threat than Russia by exploiting US liberals (N)
Trump’s Love for Tariffs Began in Japan’s ’80s Boom (N)

Industries & companies
FAANGs: Google uses Gmail to track a history of things you buy — and it’s hard to delete (C)
Hotels: Wynn Resorts Confirms Talks to Sell Boston-Area Casino to MGM (W)
Tech: Microsoft, Sony to Partner on Cloud Technology for Gaming Services (W)

Corporate finance
Booming Buybacks Aren’t Likely to Wane Despite Market Volatility (W)
Luckin Coffee Shares Jump in Market Debut (W)

Cryptocurrencies
Lack of Banking Options a Big Problem for Crypto Businesses (W)

May 17 (Friday)

Markets
Dow Industrials Rise, Lifted by Walmart, Cisco (W)
Bonds Calling the Shots for Stocks as Rate Cuts Outweigh Trade (B)
Markets Create Their Own Reality (W)
China Cuts U.S. Treasury Holdings to Lowest Level Since 2017 (B)

Central banks
Fed Officials Reveal More Doubts About Inflation Dynamics, but See Few Solutions (W)
Fed Officials Sound an Alarm, Worrying Weak Inflation Could Last (N)

US
Trump’s Latest Tariffs Likely to Have Only Modest Impact on Inflation (W)
Home Building in the U.S. Rose in April (W)
Credit card rates are now at their highest level in history and may weigh on the economy (C)

China
Western Companies Get Tangled in China’s Muslim Clampdown (W)

US politics
Michael Flynn told special counsel about possible attempts to obstruct Russia probe (C)

Geopolitics & trade
Intelligence Suggests U.S., Iran Misread Each Other (W)
Trump’s Latest Move Takes Straight Shot at Huawei’s Business (N)
China has plenty of ways to get back at US for treatment of Huawei (C)
Silicon Valley Will Feel Sting of Huawei Export Restrictions (W)
Walmart Says Customers Will Pay More After Trump’s Tariffs (B)
Cramer: Trump no longer cares if his China policies hurt American businesses (C)
Why Trump Can’t Spin the Trade War (B)

Industries & companies
Airlines: Boeing Faces More FAA Requests as It Completes 737 MAX Fix (W)
Autos: Tesla’s Autopilot Was Engaged in Fatal Florida Crash, Investigators Find (W)
FAANGs: Facebook Bans Israeli Firm Over Fake Political Activity (W)
Financials: Citigroup Hit Hardest as EU Fines Banks $1.2 Billion Over FX (B)
Financials: Goldman to Acquire Boutique Wealth Manager for $750 Million (W)
Health Care: Haven, the new health venture led by Amazon, Berkshire Hathaway and JP Morgan, just lost its No. 2 exec (C)
Retail: Walmart Extends Streak of Sales Growth (W)
Tech: Nvidia sees brief pop after earnings beat (C)
Tech: Pinterest shares plunge 15% after reporting larger-than-expected loss (C)

Corporate finance
Booming Buybacks Aren’t Likely to Slow Down (W)
China Starbucks Rival Luckin Raises $561 Million in U.S. IPO (B)

May 16 (Thursday)

Markets
Can the stock market hold out long enough for Trump to win a trade war? (MW)

Central banks
Three Fed Rate Cuts in 2019? Let’s Take a Deep Breath (B)

US
U.S. Retail Sales Unexpectedly Fall Amid Weak Auto Purchases (B)
American Consumers Shopped Till They Dropped (W)
U.S. Industrial Production Dropped in April (W)
U.S. Births Fall to Lowest Level Since 1980s (W)

US politics
NYC Mayor Bill de Blasio will enter the 2020 presidential race: NBC News (C)
Trump’s new immigration plan emphasizes skills and education over family connections (C)

Geopolitics & trade
U.S. Targets Huawei As It Seeks to Revive China Trade Talks (W)
As the China trade dispute drags on, Trump is still ‘playing with the bank’s money’ (C)
U.S. Embassy in Iraq Orders Staff to Leave as Iran Tensions Rise (W)

Industries & companies
Health Care: White House Wants Patients to Know Health Prices Up Front (W)
Tech: Microsoft Warns of Monster Bug, In a Week of Them (W)
Tech: Cisco’s Revenue Rises as Investors Weigh Possible Tariff Effects (W)

Corporate finance
Have Stock Buybacks Gone Too Far?

Offbeat
Officials: Camp Fire, deadliest in California history, was caused by PG&E electrical transmission lines (C)
Teens Smuggle Burner Phones to Defy Parents (W)