Dr. Ed's Blog

August 03 (Friday)

Markets
Tech Stocks Lift S&P 500 (W)
Did the Federal Reserve Trigger the FAANG Slide? (BR)
Japan still has great influence on global financial markets (E)

Central banks
Financial stability implications of a prolonged period of low interest rates (BIS)
Japan’s Economy and Monetary Policy (BOJ)

US politics
The $717 billion defense bill just made its way to Trump’s desk. Here’s what the Pentagon is poised to get (C)
White House Aims to Freeze Fuel Standards for Cars (W)
The Trump administration is headed for a gigantic debt headache (C)

Geopolitics & trade
Director of national intelligence calls Russian efforts to intervene in U.S. elections ‘pervasive and ongoing’ (MW)
Trump received letter from North Korea’s Kim on August 1: White House (R)
China Won’t Give in to U.S. Tariffs (W)
Trump zeroes in on China after EU trade truce (FT)

Industries & companies
Autos: Fiat Chrysler Has to Turn Jeep Around to Compete in China (W)
FANGs: Apple Reaches $1 Trillion in Stock-Market Value (W)
FANGs: Opinion: Why Apple’s trillion-dollar market cap is nothing to celebrate (MW)
FANGs: Google’s Road Back to China Littered With Obstacles (W)
FANGs: Fake Facebook Accounts Latched On to Real U.S. Protest Groups (W)
Media: CBS Posts Higher Profit, Revenue (W)

Corporate finance
Cisco Adds to Cybersecurity Offerings With Purchase of Duo (W)
Shares of wireless-speaker maker Sonos rise in post-IPO debut on Nasdaq (MW)

August 02 (Thursday)

YRI
When Volatility Knocks (FA)
How Companies Are Making Customers Pay for Trump’s Trade War (N)
Daily Markets Overview

Markets
Dow Jones Industrial Average Falls on Tariff Concerns (W)
Goldman Says Bad Forecasts Are Behind Earnings-Day Stock Tremors (B)
Treasury Yield Tops 3% Again (W)
Credit Markets Boom as Risk Appetite Keeps Trade Fear at Bay (B)
Fidelity Cuts Fees to Zero on Two New Index Funds (W)
OPEC Oil Production Climbs as Saudi Arabia Pumps Near Record (B)

Trade
U.S. Plans to Unveil 25% Tariffs on Chinese Imports (W)
China says U.S. tariff pressure won’t work, will retaliate: Reuters (MW)

Central banks
Federal Reserve Holds Rates Steady, Says Economy Is Strong (W)

US
The End of the Global Housing Boom (B)

Japan
Japan’s Women and Seniors Keep a Lid on Wages (W)

US politics
Trump Puts Pressure on Sessions to End Russia Probe ‘Now’ (W)
Senate Republicans Block $250 Million Election Security Measure (W)

Industries & companies
Autos: Auto Sales Shrivel Amid First Cut in U.S. Discounts Since 2013 (B)
Autos: Tesla Tempers Cash Burn as Musk’s Model 3 Gains Steam (B)
FANGs: Amazon plans to move completely off Oracle software by early 2020 (C)
FANGs: Apple $1 trillion? Here’s the plunge that followed the first company to get there (MW)
FANGs: Facebook and Instagram want to help you stop using them so much (MW)
Financials: Wells Fargo Reaches $2.09 Billion Settlement Over Mortgage-Backed Securities (W)

Offbeat
Local Resistance Builds to Google’s ‘Smart City’ in Toronto (W)
Was this inevitable? People spend most of their waking hours staring at screens (MW)

August 01 (Wednesday)

Markets
Bond Traders See Fed as Only Game in Town for Policy Tightening (B)

US
U.S. Household Spending, Income Rose at Solid Rate in June (W)
U.S. Workers Get Biggest Pay Increase in Nearly a Decade (W)
Young People Don’t Want Construction Jobs. That’s a Problem for the Housing Market. (W)
Why Americans Spend So Much on Health Care—In 12 Charts (W)

Europe
Eurozone Economy Slows Further as Exports Sputter (W)

China
Chinese Economy Starts to Feel Tariff Impact (W)
China’s Steelmakers Are Smashing Production Records (B)

US politics & trade
Capital gains tax cut idea puts pressure on Trump administration (R)
U.S. Considers Higher Tariffs on $200 Billion in Chinese Imports (B)

Industries & companies
Autos: Tesla is enlisting workers from all over the company in an urgent push to build batteries and cars (C)
Consumer: Procter & Gamble, in a Strategy Shift, Moves to Raise Prices (W)
FANGs: Facebook Pulls Fake Accounts That Mimic Russian Tactics Ahead of Election (W)
FANGs: Apple jumps 3% on strong quarter, guidance (C)
Pharma: Pfizer to Raise R&D Spending as Pipeline Focus Sharpens (W)
Tech: Samsung’s Mobile Profit Falls as Consumers Pass on Galaxy S9 Phones (W)

Technology
How Robot Hands Are Evolving to Do What Ours Can (N)

Offbeat
Ready, Aim, Hire a ‘Fortnite’ Coach: Parents Enlist Videogame Tutors for Their Children (W)
U.S. judge halts release of blueprints for 3-D printed guns (R)

July 31 (Tuesday)

Markets
Tech Bloodletting Nears $300 Billion Since Facebook Reported (B)
Correction Worse Than February Is Building, Morgan Stanley Says (B)

Central banks
BoJ intervenes as investors eye policy meeting (FT)

US
Jamie Dimon says he’s hoping Trump’s trade methods work but fears negative outcomes (C)
US manufacturers struggle to attract ‘cool’ millennials (FT)

Trade
Italy Threatens to Bring Down EU-Canada Free Trade Deal (W)
China plans tighter controls on foreign acquisitions (FT)

Industries & companies
Consumer: Tyson Cuts Outlook on Tariffs, Commodity Volatility (W)
FANGs: Facebook’s Next Challenge: Less Data to Target Ads (W)
Financials: American Express Gave Clients One Rate, Then Secretly Raised It (W)
Health Care: Jamie Dimon says health care initiative with Buffett and Bezos may start small (C)
Industrials: Caterpillar Profit Surges, Absorbs Tariff-Related Cost Increases (W)
Pharma: Big Pharma’s trick for making generic drugs more expensive (P)
Retail: Starbucks Ties Up With Alibaba to Deliver Coffee in China (W)

Corporate finance
Vivendi to Explore Selling Up to 50% of Universal Music Group (W)

Offbeat
Economics and the human instinct for storytelling (Chicago Booth Review)
For Sale: Survey Data on Millions of High School Students (N)

July 30 (Monday)

Markets
Investors Step Back From Social-Media Highfliers (W)
Look Beyond the FANGs (BR)
The $500 Billion Market the World Never Thought It Would See (B)

Central banks
Fed Looks for Goldilocks Path as Jobless Rate Drops (W)

US
Employers Eager to Hire Try a New Policy: ‘No Experience Necessary’ (W)
Prices Rise as Tariffs Pinch Consumers (W)
Trump Tariffs Bite at Home (BR)
Mnuchin sees healthy US economy through 2022, despite bad forecasts (NYP)

US politics
Trump Again Threatens to Shut Down Government (W)

Geopolitics & trade
Global auto powers are plotting a response to Trump’s auto tariff threats (C)
US ports are on the front line of Trump’s trade war – and they’re bracing for higher China tariffs (C)
What the U.S. Should Demand From Europe (BR)
Touring North Korean Farms and Factories, Kim Jong Un Signals a Shift (W)

Industries & companies
Autos: Fiat Chrysler Still Has Lots of Gas in Its Tank (BR)
FANGs: Facebook’s Hard Fall Shows the Pitfalls of Big Data (W)
FANGs: Facebook Looks Like a Bargain After Stock Slide (BR)
FANGs: Alphabet is looking even better after Facebook’s disappointing earnings (C)
Retail: Walmart Explores Its Own Streaming Service (W)

Technology
Later this year you’ll be able to get a futuristic medical check-up at Mount Sinai — we got an early peek (C)

Offbeat
Lose Your Job? Kansas City Still Loves You (W)

July 28 (Saturday)

Markets
U.S. Stocks Decline as Tech Stocks Sag (W)
GDP Isn’t Growing Fast Enough for Markets (B)

US I
U.S. Economy Grew at 4.1% Rate in Second Quarter (W)
U.S. Exporters Drive Earnings Growth Despite Trade Worries (W)
What’s Next for U.S. GDP After Best Quarter of Growth Since 2014 (B)
Why Trump’s goal of 3 percent economic growth actually is achievable and sustainable (C)
Trump suggests economy could grow at 8 or 9 percent if he cuts the trade deficit (C)

US II
Tariff Fears Tug on U.S. Consumer Sentiment (W)
Record Drop in Foreigners Buying U.S. Homes (W)
Americans Have Been Saving Much More Than Thought, New Data Show (B)
The mysterious slump in how much Americans save is a mystery no longer (MW)

US politics
What tax reform 2.0 could look like (MW)

Geopolitics & trade
Trump Says He ‘Opened Up Europe.’ Europeans Disagree. (W)
When the World Opened the Gates of China (W)
Germany Vetoes Chinese Purchase of Business Citing Security Grounds (W)

Industries & companies
FANGs: Facebook Isn’t as Cheap as It Looks (W)
Media: Twitter Plunges Most in Four Years on Drop in Monthly Users (B)

Corporate finance
Shareholders Approve Disney Deal for 21st Century Fox Assets (W)

Offbeat
Military Begins Arduous Job: Identifying Remains From Korean War (W)

July 27 (Friday)

Markets
Tech Investors Put Faith in Amazon for Lift After Facebook’s Rout (B)

Central banks
ECB Leaves Rates on Hold as It Affirms Bond Taper Plan (W)

US
U.S. Owner-Occupied Household Formation Is Up (B)
Housing market is showing signs of cracking: ‘Anything-goes list-price strategy is no longer working’ (C)
The U.S. Housing Market Looks Headed for Its Worst Slowdown in Years (B)

Trade I
U.S. touts EU trade deal, says others can also make progress (R)
Trump’s Truce With Europe Point to Tactical Shift on Trade (W)
Juncker’s Trade Pitch to Trump: ‘I Can Be Stupid, as Well’ (W)
Trump Wants Europe to Buy U.S. Gas—but Russia Is in His Way (W)
It’s way too soon to declare Trump’s trade war over (WP)

Trade II
U.S. House passes defense bill targeting Chinese investments (R)
U.S. Downplays Hopes for China Deal Soon Amid EU, Nafta Progress (B)
U.S. and China clash at WTO over ideology, state’s role (R)
Steel Tariffs a ‘Significant’ Hit to Oil Drilling, Conoco Says (B)

Industries & companies
Airlines: Airline stocks rally as analysts welcome capacity cuts (MW)
Energy: Big Oil’s New Strategy: Smaller Wells, Smarter Tech (W)
FANGs: Amazon Continues Profit Streak (W)
FANGs: Growth Concerns Hit Facebook Shares (W)
Financials: Walmart Taps Capital One for Store Cards, Dealing Major Blow to Synchrony (W)
Media: Spotify Reports Increase in Subscribers Amid Promotions (W)
Pharma: Drugmakers sure are eager to talk about drug prices lately (MW)
Restaurants: Here’s everything you need to know about Starbucks’ earnings (C)
Tech: Intel earnings beat: $1.04 cents per share, vs. 96 cents expected EPS (C)

Corporate finance
Businesses Are Investing More in 2018, But It’s No Boom (B)

Technology
Biggest Companies’ Secret to Success: Their Tech Spending (W)

July 26 (Thursday)

Markets
U.S. Stocks Soar on Trade Concessions (W)
Demographics Set to Act as Counterweight to Rising Yields (W)
China Targets Economy, Not Trump, With Weaker Yuan (W)

Trade I
Trump, EU agree to work on lowering tariffs, averting a potential trade war (C)
Mexico and Canada Are Committed to a Trilateral Nafta Deal (W)
China to speed up US$199 billion of domestic spending to protect growth during US trade war (SCMP)

Trade II
Tariffs are being mentioned on 40% of earnings calls (C)
Coke Raising U.S. Soda Prices, Citing Tariffs (W)
GM’s Outlook Hit by Fallout From Tariffs (W)

US
There’s No Productivity Miracle Hiding in the Data (W) | Study

Industries & companies
Autos: Ford Warns Restructuring Will Cost $11 Billion, Take Years (B)
FANGs: Here’s what Facebook said that spooked investors and wiped $130 billion off its market value (C)
Homebuilders: Rosy Homebuilder Earnings May Not Be Enough to Calm the Bears (B)
Pharma: Alzheimer’s Drug Shows Benefit (W)

Corporate finance
Qualcomm says it will terminate NXP deal by end of day and buy back $30 billion of stock (C)

July 25 (Wednesday)

Markets
Earnings Boost U.S. Stocks (W)
Goldman’s Abby Joseph Cohen warns of inflection point that could ‘spook’ markets (MW)
China’s Markets Embrace Risk as Traders Bet Big on Stimulus (B)
Foreign investors shed record Italian debt volume (FT)

Central banks
What’s Fueling Speculation the BOJ Will Change Policy (B)

US
Southern California home sales crash, a warning sign to the nation (C)

China
Chinese Pull Back on U.S. Real Estate Buying Spree That Had Helped Prices (W)

US politics
Here’s what’s in House Republicans’ ‘tax reform 2.0’ package (MW)
Kavanaugh’s Path to Supreme Court Likely Goes Through Rand Paul (W)
U.S. Sets $12 Billion in Farm Aid to Ease Trade-Fight Impact (W)

Geopolitics & trade
Why Treasury Hasn’t Labeled China, EU as Currency Manipulators (W)
Manufacturers Take Tariffs in Stride (W)
Whirlpool shares plunge 14.5%, post worst day since 1987 as tariffs wreak havoc on costs (C)
Apple Vulnerable in Trade Showdown (W)
U.S. Increasingly Large Driver of Global Trade Deficits, IMF Reports (W)

Industries & companies
FANGs: Alphabet may become the Berkshire Hathaway of the internet age on its massive technology bets (C)
Financials: UBS Profit Boosted by Investment Banking (C)
Media: AT&T falls after missing on revenue in first results since Time Warner deal close (C)

Technology & cybersecurity
Are you ready to fly without a human pilot? (C)
Russian Hackers Reach U.S. Utility Control Rooms, Homeland Security Officials Say (W)
2020 Census Comes With New Technology, but Greater Risks (W)

Offbeat
Economists Can’t Write Economically, Driving Demand for Brevity (W)
Ivanka Trump Closing Her Namesake Fashion Brand (W)
‘Hamilton’ May Be Headed to the Movies (W)

July 24 (Tuesday)

Markets
Investors Are a Lot Easier to Impress With Earnings This Time Around (B)
U.S. Bond Yield Nears 3% on Concerns About Demand Abroad (W)
China Says It Has ‘No Desire’ to Devalue Yuan Amid Trade War (B)
Trump’s Tweets Aren’t Expected to Hold Down the Dollar (B)

Central banks
Tepid inflation likely to keep Bank of Japan from taking a hawkish tilt (MW)
Lenders May Carp, but Bank of Japan Is Wary of Big Shifts (W)

US
U.S. 4% GDP Growth Seen More ‘Luck of the Draw’ Than New Reality (B)
Workers are ‘ghosting’ interviews, blowing off work in a strong job market (USA)
U.S. Existing-Home Sales Tumbled Again in June (W)

China
China’s Building Spree Hits Trouble in Pakistan (W)

US politics
Six Senate Seats Democrats Need to Defend in Midterms (W)
Trump considers stripping security clearances of James Comey, Andrew McCabe and other ex-officials (C)

Geopolitics & trade
Trump tweets all-caps tirade warning Iran never to threaten U.S. (MW)
G-20 Makes Little Progress on Tariffs (W)
EU Counts on Top Official to Try to Calm U.S. Trade Fight (W)
The ‘significant damage’ a U.S.-China trade war could do to the global economy — in one chart (MW)

Industries & companies
Autos: Tesla explains why it asked some suppliers for retroactive discounts (C)
Autos: Sergio Marchionne’s Exit Jolts Ferrari (W)
FANGs: Trump Says Bezos Guards Amazon on Antitrust With Washington Post (B)
FANGs: Amazon earnings: Prime Day isn’t the only thing giving business a boost (MW)
Retail: IKEA’s Strategy in India: If We Build It, They Will Come (W)
Retail: Starbucks growth-rate goals come back down to Earth (MW)

Corporate finance
Qualcomm Faces Demise of NXP Deal as Trade Fight Rumbles On (W)
Daniel Loeb’s Third Point unveils new position in PayPal, says it could be next Netflix, Amazon (C)

Offbeat
China’s Latest Consumer Scandal: Unsafe Vaccines (W)