Dr. Ed's Blog

Apr 16 (Friday)

YRI
Daily Markets Overview
Today’s Morning Briefing

Markets
Stock futures are flat after Dow closes above 34,000 for the first time | C
The 10-year Treasury yield slid on Thursday. Why it could be good news for stocks | C
World stocks set fresh record high on strong China, U.S. data | R

Central banks
Fed’s Daly Says Frequency of Fed Market Interventions Is Concerning | W

US
‘We need at least one more check.’ The case for a fourth stimulus payment | C
Restaurants say they can’t hire enough people. Is unemployment insurance to blame? | Slate.com

China
China’s GDP jumps record 18.3% but post-COVID recovery seen losing steam | R
China Growth Numbers Betray Waning Momentum | W

Geopolitics & trade
Biden says he is ready to ‘take further actions’ if Russia escalates against U.S., opens door to cooperation | C
Hong Kong democracy leaders given jail terms amid crackdown | C

Industries & companies
Consumer discretionary: Amazon union vote marks crucial victory in battle for worker rights | TheHill
Energy: ‘A Failure of Texas-Size Proportions’—State Struggles to Overhaul Its Power Market | W
Tech: The Chip Shortage Is Bad. Taiwan’s Drought Threatens to Make It Worse. | W

Corporate finance
JPMorgan Sells $13 Billion of Bonds in Largest Bank Deal Ever | B

Virus
Covid infection rate is approaching the highest level so far, WHO chief warns | C
Pfizer CEO says third Covid vaccine dose likely needed within 12 months | C
J&J Privately Asked Rival Covid-19 Vaccine Makers to Probe Clotting Risks | W
New Covid-19 Strains Prompt Lilly to Seek to End U.S. Use of Single Antibody Drug Alone | W
Covid-19 Variants Are Floating Around India, but Nobody Knows How Many | W

Apr 15 (Thursday)

YRI
Daily Markets Overview
Today’s Morning Briefing

Markets
Dow Pares Gains, S&P 500 Closes Lower | W

Central banks
Powell Sketches Fed Exit Strategy, Sees Taper Before Liftoff | B
Central Bank Will Begin Reducing Bond Purchases ‘Well Before’ Raising Interest Rates, Powell Says | W
Clarida: If inflation expectations ‘drift up persistently,’ Fed would need to respond | R
New York Fed’s Williams Unsure When Federal Reserve Will Pull Back Policy Aid | W

US
Policy and fiscal risk could hamper a long-term economic recovery | C
The Biden Administration Is Quietly Keeping Tabs on Inflation | N
Jamie Dimon says U.S. consumers are ‘coiled, ready to go’ with $2 trillion more in checking accounts | C
States Were Told They Can’t Use U.S. Covid-19 Aid to Cut Taxes. They Sued. | W

Industries & companies
Airlines: American Airlines Plans Expanded Summer Flying Schedule | W
Airlines: CDC study: Open middle seats could reduce Covid exposure of maskless passengers | C
Financials: Wall Street Businesses Power Goldman, JPMorgan to Record Earnings | W
Retail: American Eagle says first-quarter sales set to top $1 billion | C
Retail: Luxury Shares Soar as Louis Vuitton Shrugs Off Pandemic | W

Corporate finance
Coinbase Fetches $85 Billion Valuation in Market Debut | W

Virus
U.S. Vaccine Panel Delays Vote on J&J Covid-19 Shot’s Blood-Clotting Risk | W
Surgeon says pausing J&J vaccine for younger populations makes sense, but could be lifted for older age groups | C

Apr 14 (Wednesday)

YRI
Daily Markets Overview
Today’s Morning Briefing

Markets
Stock futures are flat ahead of earnings season kickoff | C

Central banks
Fed’s Harker says central bank will ‘hold steady’ for now | R

US
Inflation Accelerated in March Due to Strengthening Economy, Rising Energy Prices | W
U.S. consumer prices post biggest gain in 8-1/2 years as economy reopens | R
Five signs of a rebounding economy from U.S. CPI | R
Pressure mounts for Biden to forgive student debt | C
New $3,000 child tax credit to start payments in July, IRS says | C
The business case for child care reform | TheHill

Geopolitics & trade
Biden proposes summit with Putin after Russia calls U.S. ‘adversary’ over Ukraine | R
Iran Says It Will Enrich Uranium to 60%, in Effort to Strengthen Hand in Nuclear Talks | W
John Kerry Says U.S. Will Hold China to Account on Climate Pledges | W

Industries & companies
Airlines: Fake Covid-19 Certificates Hit Airlines, Which Now Have To Police Them | W
Financials: Banks, After Bracing for Disaster, Are Now Ready for a Boom | W

Corporate finance
Grab to Go Public in Record-Breaking SPAC Merger | W
Coinbase gets reference price $250 per share ahead of direct listing | C

Virus
Covid vaccine: Moderna says its shot is 90% effective 6 months after second dose | C
States rush to replace J&J vaccine appointments after FDA recommends pause | C
Pfizer CEO: Company can deliver 10% more doses to U.S. by end of May | C
Blood clots more likely from Covid than J&J vaccine: Dr. Purvi Parikh | C
Low Efficacy of Chinese Shots Sows Concern on Global Rollout | B

Offbeat
IRS Chief Says $1 Trillion in Taxes May Go Uncollected Each Year | W
Opinion | How Biden Can Free America From Its Zoning Straitjacket | N
Any more tourist attacks, and visitors won’t ever return to NYC | P

Apr 13 (Tuesday)

YRI
Daily Markets Overview
Today’s Morning Briefing

Markets
Stock futures are little changed ahead of key inflation report | C
Stocks Slip Ahead of Busy Earnings Week | W
Day Traders Know a Bubble When They See One, and They Want In | B
Raw Materials Prices Have Surged. Corporate Profits Are Likely Next. | W

Central banks
Fed’s Rosengren: Fed Policy Appropriate for Current State of Economy | W
Powell says U.S. Fed is reviewing ‘concerning’ Archegos bank losses – CBS ’60 Minutes’ | R

US
U.S. budget deficit hits record high for March as aid swells outlays | R
Biden Begins Infrastructure Negotiations Signaling Flexibility on Corporate Tax Hike | W
U.S. Budget Deficit Widened to a Record $1.7 Trillion for Six Months, as Stimulus Checks Fueled Spending | W

China
Jack Ma’s Ant Group Bows to Beijing With Company Overhaul | W

Geopolitics & trade
China’s Message to America: We’re an Equal Now | W
China Won’t Be Labeled Currency Manipulator Label by U.S. | B

Industries & companies
Communication services: Google Cloudtop virtual desktop tool for employees only | C
Tech: Nvidia to Make Server Processor, Targets Intel Profit Center | B

Corporate finance
Microsoft Bulks Up With $16 Billion Deal for Nuance Communications | W

Virus
U.S. COVID cases march higher, hospitalizations up for second week in a row | R
Covid shutdown: CDC chief says vaccinating alone won’t stop Michigan Covid surge | C
Covid-19 cases, deaths, and vaccinations: Daily U.S. data on April 12 | C
Covid-19 Drug Prevents Symptomatic Disease in Study, Regeneron Says | W
U.K. Strain Doesn’t Result in More Severe Covid-19 Among Hospitalized Patients, Study Finds | W

Apr 12 (Monday)

YRI
YRI Podcast. In our latest video podcast, Dr. Ed discusses the main points of today’s Morning Briefing.
Daily Markets Overview
Today’s Morning Briefing

Markets
Sizzling Stock Market Sets High Bar for Earnings Season | W

Central banks
Fed’s Mary Daly Says the Economy Can Rebound Sharply by the Fall | BR
ECB must accept no further delay in lifting inflation: Panetta | R

US I
Fed Chair Powell: Economy about to grow quicker due to vaccinations, fiscal support | C
With Economy Poised for Best Growth Since 1983, Inflation Lurks | W
House prices are going ballistic | E
Four ways consumer spending will change once people are vaccinated | C

US II
Getting Women Back to Work Is Key to the U.S. Economic Recovery | BR
The Other Reason the Labor Force Is Shrunken: Fear of Covid-19 | W
Riding high in a workers’ world | E

US III
Janet Yellen calls for a global minimum tax on companies. Could it happen? | E
Op-ed: Biden is securing America’s place in world with infrastructure plan | C

Europe
After dire year England’s shops hope for end-of-lockdown shopping spree | R

China
Exclusive: China’s antitrust regulator bulking up as crackdown on behemoths widens | R

Industries & companies
Cruise Lines: Cruise Line Stocks Are Riding a Wave. Here’s How They Could Sink. | BR
Communication services: Google’s Secret ‘Project Bernanke’ Revealed in Texas Antitrust Case | W
Energy: Solar-Energy Supply Chain Depends on Region Where China Is Accused of Genocide | W
Pharma: Covid Vaccine Wins Make Big Pharma Look Heroic | B

Geopolitics & trade
Biden praises South Korean battery maker deal as win for U.S. electric vehicle push | C

Cryptocurrency
Bitcoin Is Making a Splash. Is It Safe for Investors to Test the Waters? | BR

Virus
Covid: U.S. states face steep decline in J&J vaccine | C

Apr 10 (Saturday)

YRI
Daily Markets Overview
Today’s Morning Briefing

Markets
Dow Rallies to Record, While S&P 500 Notches Third Straight Week of Gains | W
Dow jumps nearly 300 points to a record high, gains 2% for the week | C
Earning season is about to get underway and that could be a positive catalyst for stocks | C
Dollar Hits Rough Patch After Strong Start to 2021 | W
 
US I
Biden’s budget meets criticism from right and left on Pentagon spending | R
Biden Budget Outline Seeks More Money for Education, Health | W
White House to Push Infrastructure Plan in Summit Meeting on Chip Shortage | W
Biden has options beyond a corporate tax hike to pay for infrastructure | C

US II
The economy is on the cusp of a major boom and economists believe it could last | C
U.S. producer inflation heats up in March as prices increase broadly | R
Calculated Risk: Is there a New Housing Bubble? | calculatedriskblog.com
Zillow president sees home listings increasing as Covid certainty grows | C
Where Can You Find a New Job? Try These U.S. Cities | W

Europe
Lagarde sees strong rebound for EU economy in second half, expects U.S. to meet inflation goal soon | C

Industries & companies
Aerospace: Boeing 737 MAX Faces Fresh Inspections | W
Autos: GM cuts overtime shifts at two U.S. truck plants due to chip shortage | C

Technology
Musk’s Las Vegas Tunnel Is Like a Tesla Amusement Park Ride | B
 
Corporate finance
Aramco Strikes $12.4 Billion Oil Pipeline Deal With EIG-Led Group | W
China fines Alibaba $2.8 billion in anti-monopoly probe | C

Virus
World Bank says to commit $2 billion to vaccines in developing countries by end-April | R
Covid cases overwhelm Michigan health system, Gov. Whitmer urges residents to stay home | C
Vaccination Passports Are New Flashpoint in Covid-19 Pandemic | W
Europe Investigates Reports of Blood Clots in Recipients of J&J’s Covid-19 Vaccine | W

Apr 09 (Friday)

YRI
Daily Markets Overview
Today’s Morning Briefing

Markets
S&P 500 Hits Another Record as Tech Stocks Rally | W

Central banks
Powell Vows to Restore ‘Great’ Economy, Plays Down Inflation | B
Powell Calls for Faster Global Vaccination | W
Fed’s Daly Says Must See, Not Just Expect, Substantial Progress on U.S. Economy | B

US
Workers Slowly Pull Away From Jobless Benefits as Economy Picks Up | W
New York City’s Wealthy Will Pay Nation’s Highest Tax Rates. How Will That Affect a Rebound? | W

Europe
Riots in Northern Ireland Spurred by Brexit, Crime and Covid-19 Restrictions | W

Geopolitics & trade
P&G Worked With China Trade Group on Tech to Sidestep Apple Privacy Rules | W

Industries & companies
Autos: GM to Halt Production at Several North American Plants Due to Chip Shortage | W
Autos: The U.S. is facing a lithium-ion battery shortage as electric vehicle production ramps up | C
Consumer discretionary: Amazon lead widens in union vote at Alabama warehouse | C
Hotels: Wynn Resorts CEO says 60% of employees have been vaccinated, despite company not mandating shots | C
Media: Netflix Inks Deal for Rights to Sony Movies, Including Coming ‘Spider-Man’ Films | W
Retail: Levi’s shares rise as denim retailer boosts outlook for first half of 2021 | C
Theme parks: Disneyland’s Sanitized Reopening Plan Is More Digital, Less Hands-On | W

Virus
Green, amber or red: UK to classify travel destinations in May | R
AstraZeneca Covid-19 Vaccine Restrictions Pile Up, Complicating Shot Rollouts | W
Biden’s Orphaned AstraZeneca Stockpile Rises to 20 Million Doses | B

Offbeat
Current Emissions Put the World on Track for Biodiversity Collapse | B

Apr 08 (Thursday)

YRI
Daily Markets Overview
Today’s Morning Briefing

Markets
S&P 500 ekes out a record close as Fed plans to stick with easy policy | C
Investors Big and Small Are Driving Stock Gains With Borrowed Money | W

Central banks
Federal Reserve minutes from March meeting | C
Fed’s Brainard says the economy is improving but is still ‘far from’ where it needs to be | C

Global
G-20 to Seek Agreement on Global Minimum Tax Rate by Mid-2021 | W
Treasury deputy Adeyemo says U.S. will win support for global minimum tax | C
Exclusive: World Bank, IMF eye ways to link debt relief to climate change spending | R

US
JPMorgan CEO Jamie Dimon Sees ‘Goldilocks Moment’ for U.S. Economy | W
Biden willing to negotiate on corporate taxes, but ‘sick and tired’ of non-payers | R
Analysis: White House, U.S. companies could agree on 25% tax rate, officials, business groups say | R
Biden Softens Tax Plan Aimed at Profitable Companies That Pay Little | W
Biden Urges Broad View of Infrastructure in Pushing $2.3 Trillion Package | W
Pennsylvania’s $64 Billion School Pension Faces Federal Probe – Bloomberg

Geopolitics & trade
Major powers meet separately with U.S., Iran on nuclear deal | R
China’s Greenland Ambitions Run Into Local Politics, U.S. Influence | W

Industries & companies
Cruise lines: Carnival says bookings rise at record pace, watching US rules closely | C
Retail: Jim Cramer says Walmart is among the stocks that will do well in a ‘hybrid world’ | C
Tech: Global IT Spending Expected to Rise 8.4% to $4.1 Trillion This Year | W
Tech: Big Tech Companies Prosper Despite Chip Shortage | W

Technology
Suspected China Hack of Microsoft Shows Signs of Prior Reconnaissance | W

Virus
UK Covid variant is now the most common strain circulating in the U.S, CDC says | C
Hospitals are seeing more young adults with severe Covid symptoms, CDC says | C
U.K. Limits AstraZeneca Covid-19 Vaccine to Over-30s Amid Blood-Clot Concerns | W

Apr 07 (Wednesday)

YRI
Daily Markets Overview
Today’s Morning Briefing

Markets
Stock market today: Dow falls nearly 100 points from a record high, S&P 500 breaks a 3-day winning streak | C
Stocks Close Lower After Monday Records | W
White-Hot Stock Rally Masks Mammoth Value Swings | W

Global
IMF Lifts Global Growth Forecast for 2021 to 6% | W

US
US Job Hiring Roars Back Faster Than Employers, Economist Expected | B
Jeff Bezos Backs Corporate Tax-Rate Increase and Infrastructure Plan | W
Calls Grow to Abandon Regulations Eased Under Covid (Hello, Cocktails to Go) | W

China
With Recent Covid-19 Wave Under Control, Chinese Consumers Spend on Travel | W

Geopolitics & trade
U.S., Iran Begin In Talks to Revive 2015 Nuclear Deal | W
2022 Beijing Olympics: U.S. backs away from boycott | C

Industries & companies
Autos: GM to Make Electric Version of Chevy Silverado Pickup | W
Financials: Morgan Stanley dumped $5 billion in Archegos’ stocks before fire sale | C
Financials: Credit Suisse Takes $4.7 Billion Hit on Archegos Meltdown | W
Tech: Facebook, Apple and Niantic Bet People Are Ready for Augmented-Reality Glasses | W

Virus I
California to lift most Covid restrictions June 15, keep mask mandate | C
‘A biological Fukushima’: Brazil COVID-19 deaths on track to pass worst of U.S. wave | R
France’s COVID-19 hospitalisations at a near five-month high | R

Virus II
Biden Says All U.S. Adults Should Be Eligible for Covid-19 Vaccine by April 19 | W
White House Rejects U.S. Vaccine Passports, Skirting Uproar | B
Toronto cancels in-person schooling as Canada deals with variant-driven wave of coronavirus | R
Covid Boosts Risks for Mental, Neurological Disorders in Study | B
The CDC should have updated its surface-cleaning guidelines much sooner, Dr. Ashish Jha says | C

Apr 06 (Tuesday)

YRI
YRI Podcast. In our latest video podcast, Dr. Ed discusses the main points of today’s Morning Briefing.
Daily Markets Overview
Today’s Morning Briefing

Markets
Stock market today: Dow climbs 370 points to close at a record high amid optimism on the economic recovery | C
U.S. Stocks Climb to Records on Signs of an Economic Rebound | W
Oil Prices Retreat Amid Demand Worries | W

Central banks
The Fed could come under fire for easy policy while the economy soars and inflation rises | C
Fed’s Mester lauds jobs report, but says loose policy is staying put | C
Jim Cramer: March jobs report gives Fed cover on monetary policy | C

US I
Chuck Schumer says Senate can pass another bill through budget reconciliation | C
Senate Parliamentarian Rules in Favor of Democratic Reconciliation Effort | W
A 28% Tax Rate Will Cost Companies, but Not Equally | W
Biden says higher corporate tax won’t hurt economy | C
Anatomy of a Biden Tax Hike | W

US II
How Biden’s infrastructure plan could leave child care behind | Vox
New York Tax Hike: Richest Residents Face Highest Combined State and City Rates | B

China
China Creates its Own Digital Currency, a First for Major Economy | W

Geopolitics & trade
Yellen Pushes for Global Minimum Tax Rate on Multinational Corporations | W
Yellen speech confirms that the U.S. is back on the world stage | C

Virus
Covid-19 Coronavirus Mutants Multiply as Scientists Race to Decode Variations | B
Fauci warns against relaxing public health measures as summer approaches | C
U.K. to Ease Lockdown as Covid-19 Vaccination Campaign Turns the Tide | W