Dr. Ed's Blog

July 10 (Saturday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets I
Wall Street posts record closing highs as financials lead rebound | R
Investors pile into longer-dated Treasury ETFs as bond yields fall | R
Index of U.S.-Listed Chinese Companies Falls to Lowest Point in Over a Year | W

Markets II
Earnings season begins in the week ahead with eye-popping growth set to validate market’s 2021 run | C
Rebalance your portfolio as economy enters expansion, HSBC says | C
BlackRock Tweaked Some Models. It Triggered A Wave of Buying and Selling. | W

Central banks
Fed Says Shortages, Hiring Difficulties Hold Back Brisk Growth | W
China Moves to Spur Lending as Inflation Fears Ease | W

US I
Biden signs order to tackle corporate abuses across U.S. economy | R
Biden’s executive order on antitrust aims to lower prices and raise wages | Vox
Biden’s Business Order Shows How He’s Using Executive Power to Shape Economy | W
President Biden Wants to Pour Money Into Infrastructure. Should You?  | N
Biden fires Social Security boss Andrew Saul, a Trump appointee | C

US II
Job Openings Are at Record Highs. Why Aren’t Unemployed Americans Filling Them? | W
Higher Inflation Depresses Equity Valuation | AIER

China
China Orders Stores to Remove More Apps Operated by Didi | W

Geopolitics & trade
G20 finance chiefs back global tax crackdown -draft | R
Finance Ministers Meet in Venice to Finalize Global Tax Agreement  | N

Industries & companies
Pharma: F.D.A. Seeks Investigation of Its Own Alzheimer’s Drug Approval  | N

Corporate finance
Stamps.com to Be Bought by Thoma Bravo in $6.6 Billion Cash Deal | W

Virus
Mississippi health officials plead with elderly to avoid mass indoor gatherings as delta Covid variant rips through state | C
CDC Urges Schools to Welcome Kids Back, Vaccinated or Not | W

Cybersecurity
Biden Warns Putin U.S. to Take ‘Any Necessary Action’ to Defend Against Ransomware | W
Ransomware: Biden presses Putin to disrupt cybercriminals in Russia | C

Beyond markets
Where space begins: Bezos’ Blue Origin vs. Branson’s Virgin Galactic | C

July 09 (Friday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets I
Dow drops more than 250 points amid global economic recovery concerns, S&P 500 slides | C
Stocks Close Lower on Economic Worries | W
The stock market is down. Should you sell? | C

Markets II
Bond yields and tech stocks echo ‘extreme anomalies’ of dot-com boom, says Morgan Stanley | MW
The Bond Market Is Telling Us to Worry About Growth, Not Inflation | N
The End of the U.S.-China Tech Stock Bromance | W

Central banks
ECB Aims for Slightly Higher Inflation, Stops Short of Fed’s Major Shift | W

US I
A Great Inflation Redux? Economists Point to Big Differences. | N
Why are gas, groceries, and used cars prices going up? Things seem more expensive because they are. | Vox
Number of workers unemployed for more than a year jumps by 248,000 | C
A Mass Labor Shortage Is Leaving Hamptonites to Fend for Themselves | Vanity Fair

US II
Borrowing Is Back as Sign-Ups for Auto Loans, Credit Cards Hit Records | W
What a National Guaranteed Income Could Look Like | B
California residents asked to cut water usage by 15% amid drought | C

China
Why China’s Young People Are Embracing Chairman Mao | N
China’s Cyber Watchdog to Police Chinese Overseas Listings | W

Industries & companies
Pharma: FDA Narrows Suggested Uses for New Alzheimer’s Drug | W

Technology
How Computers With Humanlike Senses Will Change Our Lives | W
The Parking Garage of the Future | N

Virus
Americans will need masks indoors as U.S. heads for ‘dangerous fall’ with surge in delta Covid cases | C
Pfizer says it is developing a Covid booster shot to target the highly transmissible delta variant | C
Covid-19 Genome Study Provides Clues to How Disease Works | B
In Children, Risk of Covid-19 Death or Serious Illness Remain Extremely Low, New Studies Find | W
Canada will not welcome unvaccinated tourists for some time, Prime Minister Trudeau says | C

Cybersecurity
Letting Businesses ‘Hack Back’ Against Hackers Is a Terrible Idea, Cyber Veterans Say | W

Beyond markets
‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off | W

July 08 (Thursday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets
U.S. Stocks Rise Modestly After Fed Minutes Released | W
Analysis: Reflation rethink sends bond markets into a spin | R
America’s Stocks Have Lost Their Exceptionalism (Except Big Tech) | W
Small Stocks Seek to Extend Winning Streak | W
China is cracking down on stocks that trade on U.S. exchanges. Here’s what it means | C

Central banks I
Fed Officials See Earlier End for Bond Buying, Emphasize Patience | W
Fed keen to be ‘well positioned’ to act on inflation, other risks, minutes show | R
Fed discussed design for possible standing repo facility, minutes show | R
Fed’s Bostic: Infection spike due to Delta variant could slow recovery | R
Keep Powell in Top Job, Former Fed Vice Chair Blinder Says | B

Central banks II
Federal Reserve, ECB, BOJ’s $9 Trillion Debt Binge: Where Did All the Money Go? | B
Lagarde to Present Results of ECB Strategy Review on Thursday | B

US
U.S. Job Openings Held at Record Level Headed Into Summer | W
U.S. housing shortage will last for ‘years to come’: Taylor Morrison CEO | C
Biden Pitches Child-Care, Education Plan as Democrats Debate Size | W
Biden tax plan: Corporate, capital gains and income hike uncertain | C
Biden promotes corporate taxes in Illinois as business opposition mounts | R
Biden readies order to rein in worker non-compete clauses | C

Geopolitics & trade
Biden Builds on Trump’s Use of Investment Review Panel to Take On China | W

Industries & companies
Airlines: Travel Is Bouncing Back Strong, and Airlines Are Racing to Keep Up | W
Communication services: Banner Quarter From Facebook, Google Could Mask Apple’s Bite | W
Communication services: States bring new antitrust suit against Google over Google Play | C
Railroads: Amtrak to Spend $7 Billion to Upgrade Passenger Trains | W

Corporate finance
Owner of Forever 21, JCPenney Files to Go Public | W

Cybersecurity
Software Firm at Center of Ransomware Attack Was Warned of Cyber Flaw in April | W

Virus
Delta variant already dominant in U.S., CDC estimates show | R
Daily Covid-19 Deaths in Indonesia Nearly Double as Delta Variant Drives Surge | W
Quidel recalls Lyra Covid test due to high risk of false negative results | C

July 07 (Wednesday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets
OPEC discord could unleash a new level of volatility in oil market | C

Central banks
Quickening U.S. recovery puts Fed taper discussion in focus | R

US I
Gas Price Increase Poses Challenge to U.S. Economy | N
Corporate net debt seen rising as companies spend pandemic cash piles | R

US II
Biden’s Pre-K Proposal Faces Questions From Republicans Over Federal Role | W
Pentagon cancels $10 billion JEDI cloud contract | C
Infrastructure: House Problem Solvers Caucus endorses bipartisan plan | C
Yellen to press G20 for higher minimum corporate tax rate -U.S. Treasury | R

Europe
With European recovery in sight, property investors bank on the office | R

China
China Targets Firms Listed Overseas After Launching Didi Probe | W

Industries & companies
Autos: Toyota’s Chip Supply Helps It Beat General Motors for the First Time | W
Health Care: Hospitals Often Charge Uninsured People the Highest Prices, New Data Show | W
Media: They Resurrected MGM. Amazon Bought the Studio. Now What? | N
Retail: Supermarkets Are Stockpiling Inventory as Food Costs Rise | W

Cryptocurrency & cybersecurity
Bitcoin Fraud Concerns Draw Scrutiny From Regulators | W
Attempted Hack of R.N.C. and Russian Ransomware Attack Test Biden | N
Biden says ransomware attack caused ‘minimal damage’ to U.S. companies | R

Corporate finance
Nextdoor to go public in $4.3 billion SPAC merger as CEO looks toward expansion | C
Space company Satellogic SPAC deal at $1.1 billion valuation | C

Virus
Delta Covid-19 Variant Gains Ground Among the Unvaccinated | W
Pfizer Vaccine Less Effective Against Delta Infections but Prevents Severe Illness, Israeli Data Show | W

July 06 (Tuesday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets
Oil prices jump to multiyear highs after OPEC+ talks yield no production deal | C
Retail Investors Power the Trading Wave With Record Cash Inflows | W

US I
U.S. Added 850,000 Jobs in June Labor Rebound | W
Pandemic Wave of Automation May Be Bad News for Workers | N
Lower-Wage Workers See Biggest Gains From Easing of Covid-19 Pandemic | W

US II
Wages are rising, and that’s going to have to continue to get people back to work | C
Higher Inflation Ahead? Maybe. But Don’t Even Try to Predict It. | N
U.S. Trade Deficit Widened in May as Economic Rebound Fueled Demand for Imports | W
The real risk to America’s democracy | E

Europe
Euro zone business activity soared in June as lockdowns lifted | R
13 Investment Bets on Europe’s Rebounding Economy | BR

China
When Will China’s Economy Beat the U.S. to Become No. 1? Why It May Never Happen | B
An MMT Economist Explains Why China Should Boost Fiscal Spending | B

Japan
Japan’s May household spending growth slows from previous month | R

OPEC+
OPEC+ abandons oil policy meeting after Saudi-UAE clash | R
Biden administration pushes for ‘compromise solution’ in OPEC+ talks | R
Taliban Find New Revenues as They Seize Afghanistan’s U.S.-Built Border Gateway | W

Geopolitics & trade
European Business Leaders Want a Stronger Hand With China, Not Decoupling | W
The Tech Cold War’s ‘Most Complicated Machine’ That’s Out of China’s Reach | N

Industries & companies
Media: Streaming services compared: Revenue, ARPU for Netflix, Disney+, more | C
Tech: When Big Tech Stumbles, the Market Can Fall Hard. These 5 Funds Can Help. | BR

Corporate finance
Chinese Regulators Suggested Didi Delay Its U.S. IPO | W
Newport Wafer Fab acquired by Chinese-owned Nexperia | C

Cybersecurity
China opens cybersecurity probe into Full Truck Alliance, Boss Zhipin | C
Hundreds of Businesses, From Sweden to U.S., Affected by Cyberattack | N
Ransomware Hackers Demand $70 Million to Unlock Computers in Widespread Attack | W

Virus
Deaths, Hospitalizations Surge as Delta Variant Deals Blow to Poor Countries | W

Beyond markets
What if biohackers injected themselves with mRNA? | E

July 02 (Friday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets
S&P 500 hits sixth-straight record, Dow adds 100 points as Wall Street kicks off the second half | C
Bets ramping up for lower Treasury yields in the second half of 2021 | R

Central banks
Fed’s Harker Supports Start of Bond Buying Pullback Later This Year | W
ECB Signals Green Light on Bank Dividends | W

Global
Global minimum corporate tax: 130 nations to support U.S. proposal | C

US I
U.S. House approves $715 billion infrastructure bill | R
U.S. deficit will total $3 trillion in fiscal 2021, budget panel says | C
Opinion: Inflation will hurt low-income Americans for years to come | NN

US II
U.S. labor market recovery gaining steam; worker shortages an obstacle | R
Job growth looked stronger in June as companies scrambled to find workers | C
Chamber of Commerce CEO: Employers can’t find workers | C
This Summer, Jobs Come With a Hefty Signing Bonus | W

Industries & companies
Consumer: General Mills is the latest company to face a big inflation hit | C
Consumer discretionary: Amazon adds leadership principles to prepare for post-Jeff Bezos era | C
Retail: H&M Pays Price of Upsetting Beijing as China Sales Drop | W
Retail: Walgreens Sales Rise as Vaccinations Improve Prescriptions Business | W
Tech: Why Microsoft Is Still a Big Tech Superstar | N

Corporate finance
M&A Boom Shows No Sign of Stopping After Epic First Half | B
Robinhood IPO: Company has 18 million accounts managing $80 billion | C
Krispy Kreme IPO: DNUT starts trading on the Nasdaq | C

Virus
1,000 counties in the U.S. have vaccination coverage of less than 30% | C
Delta: White House to deploy response teams across U.S. to combat Covid variant | C
From Pandemic to Endemic, Singapore Creates Model for Living With Covid-19 | W
Another Respiratory Virus Is Spreading as U.S. Gets Back to Pre-Covid-19 Life | W

Beyond markets
Miami building collapse: Search halted due to concerns other tower could fall | C
Trump Organization indictment alleges scheme to dodge taxes on executive compensation | C
Internet’s Original Source Code Sold as NFT for $5.4 Million | W

July 01 (Thursday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets
Stock Markets Cruise to Records in First Half, but Investors Grow Uneasy | W
S&P 500 notches fifth straight record closing high, fifth straight quarterly gain | R
Lumber prices dive more than 40% in June, biggest monthly drop on record | C
 
Central banks
Fed Unity Cracks as Inflation Rises and Officials Debate Future | N
Fed’s Kaplan Says Time to Start Paring Bond Buying Aid Soon | W

US
Boom! U.S. consumers hit by rising prices for Fourth of July fireworks | R
U.S. private payrolls increase solidly; pending home sales rebound | R
Shortage of truck drivers is behind fuel delivery delays, says GasBuddy analyst | C
Biden Weighs New Executive Order Restraining Big Business | W
Trump Organization and its CFO indicted by Manhattan grand jury, report says | C

China
China’s Economy Flashes Hints of Weakness | W

Japan
Japan business mood improves in Q2 to 2-1/2-year high – tankan | R

Europe
Why the Covid-19 Pandemic Weakened Far-Right Groups in Europe | W

Geopolitics & trade
U.S., Taiwan Revive Trade Talks, With Pledge to Combat Forced Labor | W

Industries & companies
Autos: Chip shortage causes Ford to slash vehicle production at several plants in July | C
Communications services: Facebook is testing drastic changes to Instagram to make it more like TikTok | C
Consumer discretionary: Amazon’s carbon emissions rose 19% in 2020 even as Covid-19 pushed global levels down | C
 
Corporate finance
Blockbuster IPO day produces big gains for Uber, Delta Air Lines and tech VCs | C
 
Virus
Vaccinated People Who Get Infected Carry Less Covid-19 Virus, CDC Researchers Say | W
Search for Covid’s Origins Leads to China’s Wild Animal Farms—and a Big Problem | W
Kim Jong Un Warns of ‘Great Crisis’ in North Korea Over Covid-19 Response | W

June 30 (Wednesday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets
Stocks’ Modest Gains Give Nasdaq, S&P 500 Records | W
Stocks should add to gains in the second half, but there are two big concerns | C

Central banks
Fed’s Waller: 2022 rate hike possible, wants MBS taper first | R

US I
U.S. consumer confidence at 16-month high; house price inflation heating up | R
Home price gains in April ‘truly extraordinary,’ S&P Case-Shiller says | C
CEO of payroll provider Paychex sees hiring rates rising in September | C
Key indicator shows we are past peak inflation fear, supporting the rally | C

US II
Biden, in Wisconsin, Hails Job-Creating Potential of Infrastructure Deal | W
Kudlow: The Real Truth Behind the Biden Budget Double-Talk | nysun.com
Supreme Court Rules New Jersey Can’t Block Natural-Gas Pipeline | W

China
China Wants Howling Diplomats to Quiet Down, but Nationalism Gets in the Way | W

Japan
Japan’s May factory output posts biggest monthly drop in a year | R
Toshiba Scandal Emboldens Foreign Investors Pushing Change in Japan | W
Japan’s In-Home Robot Experiment Short Circuits | W

Geopolitics & trade
Former Chinese Party Insider Calls U.S. Hopes of Engagement ‘Naive’ | W
The U.S. is falling further behind China and Europe in EV production | C
U.S., European suppliers scramble to secure Christmas goods as cargo delays worsen | R

Industries & companies
Airlines: United Airlines Bets on Post-Pandemic Growth With Its Biggest-Ever Jet Order | W
Airlines: American, Delta, and United Airlines are hiring workers for summer travel demand | Vox
Autos: Car Dealers Are Selling More Vehicles Above the Sticker Price | W
Consumer discretionary: Amazon Demands One More Thing From Some Vendors: A Piece of Their Company | W
Pharma: Sanofi Bets on mRNA Vaccines After Covid-19 Pandemic Shows Worth | W
Tech: Windows 11 Insider build: What’s new? | C

Corporate finance
Didi IPO Pricing Imminent After Lightning-Round Roadshow | W

Virus
Covid-19 Contact Tracers Race Against Delta Variant in the U.S. | W
U.S. Poised to Fall Behind Europe on Covid-19 Vaccine First Doses | W

Beyond markets
Harvard, MIT Part of $800 Million Deal to Push Access to Online Education | W

June 29 (Tuesday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets
S&P 500, Nasdaq Notch Record Closes | W
Persistent Advance in Stocks and Commodities Shows Investor Confidence | W
High Lumber Prices Add Urgency to a Decades-Old Trade Fight | N
Cathie Wood’s Ark Invest files to create a bitcoin ETF | C

Global
Americans’ Hunger for the World’s Goods Drives Global Recovery | W

Central banks
Fed Officials Debate Scaling Back Mortgage-Bond Purchases at Faster Clip | W
Fed’s Barkin says U.S. has made “substantial further progress” on inflation goal | R
NY Fed’s Williams says major questions need to addressed as digital currencies emerge | R

US I
Under-the-radar trend may provide relief from runaway inflation fears | C
Biden to Highlight Infrastructure Deal’s Roads and Bridges, Not Legislative Path | W
Schumer Again Calls On Biden to Cancel $50,000 per Borrower in Federal Student Debt | W

US II
Where Jobless Benefits Were Cut, Jobs Are Still Hard to Fill | N
The market can solve America’s labor shortage — if Washington will let it | TheHill
State and local tax cap may be here to stay for the highest earners | C
U.S. consumer watchdog approves new foreclosure protections, but not blanket ban | R
Homeowners Behind on Mortgages to Be Offered Help, U.S. Agency Says | W

China
China Beige Book sees creeping caution among consumers and businesses | C

Industries & companies
Financials: Morgan Stanley doubles its dividend as most banks raise payouts following Fed stress tests | C
Financials: Principal Financial to Divest Business of Selling Life Insurance to U.S. Consumers | W
FinTech: Venmo to Charge Users for Selling Goods and Services | W

Virus
Delta Variant of Covid-19 Surges Across Unvaccinated Africa | W

Beyond markets
UBS Says Hybrid Work Is Here to Stay | W
Amazon turns headquarters into cooling center amid Seattle heat wave | C

June 28 (Monday)

YRI
Dr. Ed’s latest video podcast
Daily Markets Overview
Today’s Morning Briefing

Markets
The Stock Market Hasn’t Been This Placid in Years | W
Investors can no longer take low interest rates for granted | E
Analysis: Chinese flock to home-grown brands in golden opportunity for investors | R
Commodities Remain a Popular Bet Despite Recent Declines | W

US I
Capital-Spending Surge Further Lifts Economic Recovery | W
The Housing Market Is Still Hot. That’s Good News for These Three Mortgage Insurers | BR
Inflation looks bad now, but it’s pretty much sticking to the script | C
Americans Are Leaving Unemployment Rolls More Quickly in States Cutting Off Benefits | W
New York and Other Northeast States See Large Drop in Unemployment | W

US II
White House, Senate Negotiators Try to Keep Infrastructure Deal Alive | W
Democrats Focus on Turning Tax Talk Into Action | W
During Covid-19, Most Americans Got Richer—Especially the Rich | W
Top CEOs of 2021: Barron’s Latest List of Stellar Corporate Leaders | BR
Trump Hints at Another Run, Disputes Past Election at Ohio Fairgrounds | W

Europe
Macron rolls out red carpet to JPMorgan, global CEOs in post-Brexit push | R
UK says it has yet to receive formal EU response in sausage row | R
With Covid-19 Easing, Diplomats Urge Biden to Lift ‘Unfair’ Ban on European Travelers | W

China
China’s Communist Party at 100: the secret of its longevity | E

Geopolitics & trade
North Koreans worry over ’emaciated’ Kim Jong Un, state media says | R

Industries & companies
Autos: Tesla to ‘recall’ nearly 300,000 China-made Model 3 and Model Y vehicles | C
Biotech: Moderna’s Stéphane Bancel: Barron’s Top CEOs 2021 | BR
Media: ‘F9’ opening weekend: $70 million box office haul is pandemic record | C
Pharma: Pfizer’s Albert Bourla: Barron’s Top CEOs 2021 | BR
Retail: Lowe’s Marvin Ellison: Barron’s Top CEOs 2021 | BR
Retail: Walmart’s Douglas McMillon: Barron’s Top CEOs 2021 | BR

Virus
Biden Administration Warns Covid-19 Origins Review May Not Be Definitive | W
Covid-19 Killed 26 Indonesian Doctors in June—at Least 10 Had Taken China’s Sinovac Vaccine | W
Closing the world’s schools caused children great harm | E
Americans Seek Urgent Mental-Health Support as Covid-19 Crisis Ebbs | W

Beyond markets
Florida condo collapse: Engineer found major structural damage years before | C