Dr. Ed's Blog

March 29 (Friday)

Markets
U.S. Stocks Rise as Investors Weigh Growth Concerns (W)
This time, an inverted yield curve suggests the stock market has already peaked, some analysts say (MW)
Trump Asks OPEC to ‘Increase the Flow of Oil’ (W)
Will Truckers Trade Futures? A New Market Seeks to Draw Freight Bets (W)

Central banks
Clarida Says Fed Must Pay Closer Attention to Global Growth Risks (W)
Fed done raising interest rates; significant chance of cut in 2020: Reuters poll (R)
Bullard says hard for any individual Fed appointee to ‘be dominant’ (R)

US
U.S. Economy Had Less Momentum Heading Into 2019 as Corporate Profits Stalled (W)
Mortgage rates plunge at the fastest pace in a decade as growth fears resurface (MW)
The 4% Mortgage Is Back (W)

Europe
Theresa May Gambles on Last-Ditch Vote to Avoid Long Brexit Delay (B)
Stuck in the Brexit Maze (W)

US politics
Trump renews attacks on Obamacare as he hits the 2020 campaign trail (C)
Pelosi Urges Fast Release of Mueller Report, Blasts Barr’s Summary (W)

Industries & companies
Health Care: Health-Care Politics Spark a $40 Billion Wipeout on Wall Street (B)
Financials: Wells Fargo CEO Tim Sloan is retiring, and shares jump (C)

Geopolitics & trade
Exclusive: China shifts position on tech transfers, trade talks progress – U.S. officials (R)
China Floats Cloud Concession as Part of U.S. Trade Talks (W)
Huawei Equipment Has Major Security Flaws, U.K. Says (W)

Corporate finance
Lyft valued at $24.3 billion in first ride-hailing IPO (R)

Offbeat
Purdue’s Sackler Family Accused of Fraud in Transfers of Opioid Profits (W)

March 28 (Thursday)

Markets
Ten-Year Yield Drops Below 2.4%, Hitting Fresh Lows (W)
The bond market has been spooked and so the big interest rate slide is likely not over (C)
Why a ‘very ugly reporting season’ for small-caps is bad news for stock-market bulls (MW)
More Than a Third of China Is Now Invested in One Giant Mutual Fund (W)

US
Tax Changes Hit Overseas Profits of U.S. Companies (W)
US companies bring home $665 billion in overseas cash last year, falling short of Trump pledge (C)
Still More Signs of a Housing Slowdown (BR)

Central banks
He’s No ‘Sycophant’ for Trump, Expected Fed Nominee Says (N)
Moore’s call for half-point rate cut sets him apart from would-be Fed colleagues (MW)
Fed Officials Push Back on Market’s Rate-Cut Belief (W)
ECB’s Draghi Hints at Drawbacks of Negative Rates (W)

Europe
May Vows To Resign To Get Brexit Deal Through Parliament (W)
China to Reduce the Juice for Electric-Car Sales (W)
Trump says he can produce a better healthcare plan than Obamacare (R)

Geopolitics & trade
Trump Says Google CEO Told Him He’s Committed to U.S. Military, ‘Not Chinese’ (W)
U.S. Orders Chinese Company to Sell Grindr App (W)
U.S. starts anti-dumping probe of wooden cabinets imported from China (R)

Industries & companies
Aerospace: How Boeing’s 737 MAX Failed (W)
Aerospace: DOT Secretary Says Making Safety Systems Optional on Boeing Jet ‘Troubling’ (W)
Airlines: Southwest Flags Bullish Outlook Despite 737 MAX Groundings (W)
Media: Streaming Explosion Creates Dilemma: Too Many Choices (W)
Financials: Equifax, FICO Team Up to Sell Consumer Data to Banks (W)

Corporate finance
Saudi Aramco to Buy 70% Stake in State Petrochemicals Firm Sabic (W)
$15.3 Billion Merger Creates Big Provider of Government Plans (W)
Lyft to Price Shares Above Targeted Range of $62 to $68 in IPO (W)
Mattress Startup Casper Joins the Unicorn Club With Latest Funding (B)

March 27 (Wednesday)

Markets
Dow Inc. to Replace DowDuPont in DJIA (W)
‘There’s no way’ we’re headed for recession—five experts on the bond market’s warning sign (C)

Central banks
Fed’s Daly: Changes in Labor Market Explain Some of Tepid Wage Gains (W)

US I
Recession Checklist Has More Than One Item, Curve Skeptics Say (B)
U.S. Consumer Confidence Declined in March (W)
Almost Half of Older Americans Have Zero in Retirement Savings (B)

US II
Home Building, New-Home Permits Have Softened This Year (W)
Want to sell your home? Hurry up and list it next week (C)
A Decade After the Housing Bust, the Exurbs Are Back (W)
The eviction crisis is starting to look a lot like the subprime mortgage crisis (MW)

US politics
Mueller Report to Be Public in ‘Weeks Not Months,’ Barr Says (W)
House Effort to Override Trump Veto on Emergency Comes Up Short (W)
Trump Administration Renews Attempt to Topple Affordable Care Act (W)
Green New Deal fizzles out in the Senate as Dems accuse GOP of putting on a ‘stunt’ vote (C)

Geopolitics & trade
U.S., China Trade Talks to Resume as Trump Vows ‘Excellent’ Deal (B)
Europe Embraces China’s Xi—Warily (W)
Iran Moves to Cement Its Influence in Syria (W)

Industries & companies
Airlines: The uncomfortable reason you’re seeing dirt cheap airfares right now (MW)
Aerospace: Southwest Boeing 737 Max makes emergency landing in Orlando; FAA cites engine issue unrelated to recent crashes (C)
FAANGs: Apple, Qualcomm Trade Blows in Patent Fight (W)
FAANGs: Apple Makes Values Pitch, but Will People Buy It? (W)
FAANGs: Apple Makes Friendly With Rivals’ Devices (W)
FAANGs: Apple’s move into banking raises the bar for fintech, traditional credit cards (C)
Financials: Citigroup Enters Banking’s Hottest Business With New Payments Unit (W)
Pharma: Purdue Pharma Begins Resolution of Opioid Cases With $270 Million Deal (W)

Corporate finance
Uber Targets Middle East With $3.1 Billion Deal, Its Largest Ever (W)
Lyft to Price Shares Above Target Range in Initial Offering (W)
Magical Thinking About Unicorn IPOs (W)

Cybersecurity
Insurers Creating a Consumer Ratings Service for Cybersecurity (W)

Offbeat
How Colin Kaepernick’s Lawyer Dealt With Nike and Became Entangled in Extortion Charges (W)
FTC Orders Broadband Providers to Explain Data Collection Policies (W)

March 26 (Tuesday)

Markets
Stocks Stabilize After Selloff (W)
‘Don’t Panic’ the Mantra as Low Yields Don’t Mean Stock Collapse (B)
Treasuries Rally Gains Steam as Full Fed Cut Priced In for 2019 (B)
The $10 Trillion Pool of Negative Debt Is a Late-Cycle Reckoning (B)

Central banks
Evans Sees Lessons From 1998 Rate Cuts for Fed Policy This Year (B)
Fed rate cut seen nearer as yield curves invert (R)
Moore Says Fed’s Pivot Validates Criticism of Rate Increases (W)
Fed’s Kashkari argues against U.S. central bank’s view of workforce participation (R)

US
Homebuilders On Pace for 6-Month Closing High (B)
Josh Brown: The US has never imported a recession and the consumer is ‘on fire’ (C)
The quiet desperation of Gen X workers across America (C)

Europe
Theresa May Admits Brexit Deal in Trouble as Parliament Votes on Plan B (B)

Emerging
Venezuela’s Two Realities: People With Dollars and Those Without (W)

US politics
600 more days of Mueller: Trump 2020 campaign says it will blast Democrats over Mueller report for the next two years (C)
Trump Backs Report’s Full Release as Democrats Dispute ‘Exoneration’ (W)
Mueller Report Clears President Trump—but Not President Putin (W)

Geopolitics & trade
Trump recognizes disputed Golan Heights as Israeli territory in boost for Netanyahu (R)
Israel Strikes Hamas Targets in Gaza After Rocket Attack Near Tel Aviv (W)
Canada Links Trade-Deal Approval to Steel Tariffs (W)
In Delicate Courtship, France and China Make Deals (W)
What a U.S.-China Trade Deal Might Look Like (W)

Industries & companies
Airlines: Department of Transportation forms ‘expert’ committee to review FAA’s aircraft approval process (C)
FAANGs: Here’s everything Apple announced on Monday (C)

Corporate finance
Lyft Leading Wave of Startups That Will Make Debuts With Giant Losses (W)
McDonald’s Buys Israeli Digital Startup Dynamic Yield (W)

Offbeat
Stormy Daniels’ ex-lawyer Michael Avenatti arrested for alleged $20 million extortion scheme against Nike, embezzling client’s money, defrauding bank (C)
‘He Had the Magic Elixir’: How the College Cheating Scandal Spread (W)

March 25 (Monday)

Markets
China’s Huge Bond Market Is Coming to an ETF Near You Soon (W)

Central banks
The Fed Admits the Markets Were Right (BR)

US
Aided by Strong Economy, U.S. Labor Force Beats Forecasts (W)
Trump’s tax cuts will boost the US economy for two more years at most, says Nobel Prize winner (C)
Opinion: 9 reasons why the housing market risks hitting a perfect storm (MW)

Europe
Brexit up in the air as May pushes divorce deal for third time (R)

China
China confident of achieving key 2019 economic targets, vice premier says (R)
Apple’s Cook to China: keep opening for sake of global economy (R)

US politics
Mueller did not find enough evidence that Trump obstructed justice or conspired with Russia: AG Barr (C)
Read Attorney General William Barr’s summary of special counsel Robert Mueller’s findings (C)
Trump responds to Mueller findings: ‘No Collusion, No Obstruction, Complete and Total EXONERATION. KEEP AMERICA GREAT!’ (C)
Trump’s bold claims about cutting red tape give Democrats a possible weapon in 2020 election (C)

Geopolitics & trade
U.S.’s Lighthizer, Mnuchin to travel to China for trade talks: White House (R)

Industries & companies
Airlines: American Airlines is cancelling 90 flights a day as Boeing 737 Max remains grounded (C)
Aerospace: Fast-Tracked Boeing Aircraft Certification Comes Under Scrutiny (W)
FAANGs: With the iPhone Sputtering, Apple Bets Its Future on TV and News (W)
FAANGs: Amazon to Whole Foods Online Delivery Customers: We’re Out of Celery, How’s Kale? (W)

Corporate finance
Investors Should Steer Clear When Lyft Goes Public (BR)
Bayer’s Deal for Monsanto Looked Like a Winner. Now It Looks Like a Lesson in How Not to Do M&A (BR)

Offbeat
How Your Kids Can Ruin Your Retirement — and How to Make Sure They Don’t (BR)

March 23 (Saturday)

YRI
Video Podcast: Freaking Out Over Inverted Yield Curve
Daily Markets Overview

Markets
Dow drops more than 450 points, S&P 500 posts worst day since January amid global growth worries (C)
Finally a Stock Rout You Can’t Totally Blame on Jerome Powell (B)
Twin Troubles Strike the Bond Market (W)
Yield Curve, Federal Reserve and Recession Fears Go Mainstream (B)
The yield curve inverted — here are 5 things investors need to know (MW)

Central banks
Here’s how Trump decided to nominate Stephen Moore to the Fed – and what it means for Jerome Powell (C)
Fed Chairman Jerome Powell Shows His Flexible Side (W)
The Fed’s policy switch may be too late to save the economy from fading (C)
Fed’s Pivot Marks a Major Break (B)

US
U.S. Existing Home Sales Jumped 11.8% in February (W)
U.S. Budget Deficit Grew 39% in First Five Months of Fiscal 2019 (W)

US politics
Special counsel Mueller has no sealed indictments as Russia probe ends: NBC News (C)
MUELLER PROBE ENDS: Special counsel submits Russia report to Attorney General William Barr (C)
Attorney General William Barr says he may provide lawmakers with conclusions of Mueller report this weekend (C)
Explainer: Why Trump’s legal woes go beyond the Mueller report (R)

Geopolitics & trade
Trump Says Islamic State Caliphate Completely Eliminated (W)
Trump Reverses Additional North Korea Sanctions Announced a Day Ago (W)

Industries & companies
Aerospace: Airlines Review Plans as Boeing Faces First MAX Cancellation (W)
FAANGs: Apple is keeping partners in the dark about how it plans to package and price its video service (C)
Telecom: Nokia’s Shares Plunge After Warning of Possible Compliance Issues (W)

Corporate finance
Pinterest Makes IPO Filing Public (W)

Technology
The Risks of Marrying ‘Smart’ Tech With ‘Dumb’ Machines (W)

Offbeat
They’re magic! Eating mushrooms could slash risk of cognitive decline by 50% (MW)

March 22 (Friday)

YRI
Video: Dow, S&P 500 higher for the first time in three days (C)
Daily Markets Overview

Markets I
Dow rallies more than 200 points, biggest gain in a month as Apple surges (C)
Stock market’s fourth-quarter crash and comeback draws comparisons on Wall Street to ’87, ’95 (C)
Jeffrey Gundlach says Fed this week was ‘not reassuring’ and S&P 500 still in bear market (C)
There’s one reason why stocks are doing just fine despite worries about earnings and the economy (C)

Markets II
The Bond Market’s Blind Faith in a Do-Nothing Fed (W)
Opinion: The Fed’s total capitulation is a bad omen for the stock market (MW)
Scared of Stocks? Buy a House Instead (B)

Central banks
Beneath Fed’s positive spin, an embrace of a tepid future (R)
The Fed’s New ‘Normal’ Looks Worrisome (W)
A Central Banking Domino Effect Is in Motion (W)

US
A key recession indicator just did something that hasn’t happened in 12 years (C)

Europe
EU Considers Nine-Month Delay If Theresa May’s Deal Dies (B)

Geopolitics & trade
Trump wants China to ‘double or triple’ its offer to buy US goods in trade negotiations, sources say (C)
Trump Signals U.S. to Keep Tariffs on China After Deal (W)
Trump Supports Israeli Sovereignty Over Golan Heights (W)

Industries & companies
Airlines: Boeing’s 737 Max could single-handedly hit US GDP if production is halted, JP Morgan says (C)
FAANGs: Facebook employees had access to millions of user passwords (C)
FAANGs: Netflix’s Growth Helps Streaming Eclipse Cable Subscriptions (B)
Industrials: GM Is Plotting an Electric Investment in Feud With Trump (B)
Media: Comcast has a new streaming box for cord cutters that you can get for $5 per month (C)
Pharma: Biogen Shares Skid After Company Ends Alzheimer’s Trials (W)
Retail: Nike is about to report earnings. Here’s everything you need to know (C)
Retail: Walmart Builds a Secret Weapon to Battle Amazon for Retail’s Future (W)

Technology
What AI Is Still Far From Figuring Out (W)

March 21 (Thursday)

Markets
10-year Treasury yield dives to the lowest in a year after Fed says no more rates hikes (C)
US crude rises 1.4%, settling at $59.83, after topping $60 for first time since November (C)

Central banks
Fed holds line on rates, says no more hikes ahead this year (C) | Fed Statement Tracker
Fed gives market what it wanted — it’s ending its balance-sheet reduction in September (C) | Balance Sheet Normalization Principles and Plans
Fed Chair Powell says Chinese and European economies have slowed ‘substantially’ (C)
The Fed’s New Dot Plot (B) | SEP

US
Loans Get Cheaper for Some (W)
U.S. Debt: Is It the Calm Before the Storm?

Europe
U.K. Requests Three-Month Brexit Extension (W)

US politics
Biden Tells Supporters He Plans 2020 Bid (W)
Democratic Candidates, Pressured by Party Base, Split on How Liberal to Be (W)
Gas-Tax Hike: A Rare Big Idea With Bipartisan Backing (W)

Geopolitics & trade
Trump says China tariffs could stay in place for a ‘substantial period of time’ as trade deal develops (C)
Trump says trade deal ‘coming along nicely’ with China (R)

Industries & companies
Airlines: Inside U.S. Airlines’ Decisions to Keep Flying the 737 MAX (W)
FAANGs: Jamie Dimon: Tech giants should get prepared for ‘full monty’ of regulatory onslaught (C)
FAANGs: Google Fined $1.7 Billion in EU Over Limiting Rivals’ Ads (W)
FAANGs: Apple Launches New AirPods in Wearables Push (W)
FAANGs: It’s starting to look like Apple’s long-awaited wireless charging pad will launch this week (C)
FAANGs: Google Unveils High-End Gaming Service Without a Console (C)
Financials: How One of the Worst-Ever Quarters Is Hurting Investment Banking (B)
Pharma: Bayer Shares Fall After Legal Setback on Roundup Weedkiller (W)

Corporate finance
Levi Strauss Set to Debut Amid IPO Boom (W)
Disney Closes $71.3 Billion Deal for 21st Century Fox Assets (W)
Disney Moves From Behemoth to Colossus With Closing of Fox Deal (N)

Offbeat
‘It Takes Over Your Life’: Waze Volunteers Work for the Love of Maps (W)

March 20 (Wednesday)

Markets
Dow snaps 4-day winning streak as Apple falls and trade worries flare up again (C)
Wall Street inches higher as Fed meeting convenes (R)
Passive investing automatically tracking indexes now controls nearly half the US stock market (C)
Buy Gold, Sell Stocks Is the ‘Trade of Century’ Says One Hedge Fund (B)
Think Stocks Are Hot? This Car Metal Keeps Hitting New Records (W)

Central banks
Fed Faces Crucial Decision on Mix of Treasurys in Its Portfolio (W)
What ‘Fed drift’ says about how the stock market behaves around policy meetings (MW)
Q&A: Federal Reserve likely to disappoint policy doves – Weeden strategist (R)

US
U.S. factory orders barely rise; shipments fall further (R)

US politics
Trump Budget Relies Partly on Potentially Phantom Revenues (W)
White House Seeks Ways to Get More People to Work (W)
Bernie Sanders hires Beto O’Rourke critic as top aide in 2020 race (R)
White House to Nominate Steve Dickson as Permanent FAA Head (W)
Campaign-Finance Violations Implicating Trump Discovered After Mueller Handed Off Probe (W)

Geopolitics & trade
U.S., China Plan New Trade Talks in Hopes for Deal by End of April (W)
Trump says trade talks with China going ‘very well’ (R)
Trade talks are in final stages, but there is still fear China may walk back concessions: Reports (C)
Trump Blockade of Huawei Fizzles in European 5G Rollout (B)
Trump forges bond with Brazil’s Bolsonaro in White House visit (R)

Industries & companies
FAANGs: Instagram Takes on Amazon With New Shopping Feature (W)
FAANGs: Facebook Axes Age, Gender and Other Targeting for Some Sensitive Ads (W)
FAANGs: Google Stadia Service Aims to Stream Games From Cloud (W)
Media: Former AOL Boss Getting More Than $60 Million as He Exits Verizon (W)
Media: Publishers Sue Peloton for Use of Songs From Drake, Lady Gaga (W)
Tech: Amazon, Microsoft Tighten Grip on Enterprise Tech (W)

Corporate finance
Here’s why Levi Strauss, the world’s biggest denim brand, is going public (C)
Bank Back-Office Workhorses Merge to Keep Up in Technology Race (W)

Cryptocurrency
Bitcoin Is in the Dumps, Spreading Gloom Over Crypto World (W)

Offbeat
More Detail and Plain English: Auditors’ Reports Get a Makeover (W)
California Has the Jobs but Not Enough Homes (W)

March 19 (Tuesday)

Markets
U.S. Stocks Close Higher Ahead of Fed Meeting (W)
Stock bulls hoping for a repeat of 2016 rebound will be disappointed: Morgan Stanley (MW)
Startups Aim to Overhaul Trading in Treasury Bonds (W)

Central banks
Fed Officials Wrestle With a ‘Dot Plot’ Dilemma (W)
How to understand the Fed’s dovish turn: Nouriel Roubini (MW)
Merkel hopes euro zone inflation hits target so ECB can hike rates (R)

US
Jamie Dimon says we’ve split the US economy, leaving the poor behind (C)

Europe
Speaker Wrecks Theresa May’s Brexit Plan by Banning Another Vote on Deal (B)

US politics
Investors Eagerly Await Trump Rules on Opportunity Zones (N)
Bernie Sanders Pledges To Do A Better Job Of Explaining Socialism (NPR)
O’Rourke Raised $6.1 Million in First 24 Hours of Campaign (W)

Geopolitics & trade
U.S. Chip Industry Is Cool on Chinese Purchase Offer (W)
Chip-Stocks Rally Could Be in Jeopardy if Trade Deal Disappoints (W)
U.S. Campaign to Ban Huawei Overseas Stumbles as Allies Resist (N)

Industries & companies
Aerospace: Crash parallels heap pressure on Boeing (R)
Autos: Maserati, Fiat Chrysler’s Crown Jewel, Has Lost Its Shine (W)
Consumer: Kraft Heinz shares hit 52-week low after S&P puts company on CreditWatch negative (C)
FAANGs: Apple unveils new iPad Air and iPad mini ahead of video streaming announcement (C)
FAANGs: Apple’s groundbreaking heart study signals a new era of medicine, and doctors are debating the results (C)
FAANGs: Facebook stock has worst day of 2019 after executive exodus, AG investigations and analyst downgrade (C)
Hospitality: Marriott Plans to Open Over 1,700 Hotels (W)

Corporate finance
Two Big IPOs Wake 2019’s Market From a Sleepy Start (B)
Global Payments Giant to Be Created With $35 Billion FIS-Worldpay Deal (W)
Lyft Seeks Valuation of Up to $23 Billion in IPO (W)

Cryptocurrency
Cboe to stop listing bitcoin futures as interest in crypto trading cools (C)
Bitcoin Breaches $4,000 for First Time in More Than Two Months (B)

Offbeat
Warren Buffett says US health care must be revamped (C)
Mayor de Blasio’s plan to mandate paid vacation will cripple NYC’s small businesses