Dr. Ed's Blog

Dec 14 (Monday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock-market uncertainty runs high headed into Fed’s final meeting of 2020 | MW
Markets Wake Up to Risks of Disruptive Brexit | W
America’s Small Stocks Are Leading the Market’s Charge | W
A Proposal to Delist Chinese Stocks Could Mean Big Headaches. What to Know. | BR
Mutual Funds Bleed $469 Billion as ETFs Triumph in Zero-Sum 2020 | B
The Dicey Economics of Investing in Oil During Covid-19 | W

Global
The world economy – After the pandemic, will inflation return? | Leaders | E

US
U.S. producer prices rise moderately; COVID-19 seen taming inflation | R

Europe
Brexit trade talks will continue past Sunday deadline | C

China
China is doubling down in Xinjiang | China | E

US politics
For Biden’s Economic Team, an Early Focus on Climate | N
Trump blasts Barr over Hunter Biden probe, condemns Supreme Court | C
US election: Biden breaks Obama’s record for lowest number of counties won

Geopolitics & trade
Intel CEO Quietly Warns Of China’s ‘Greater Bay Area’ Project | FO

Industries & companies
Autos: NIO, Xpeng, and Li Auto Are Not the Next Tesla. Why It’s Time to Unplug From Chinese EV Stocks. | BR
Autos: Are Tesla’s Shares Worth $90 or $780? Wall Street Can’t Decide | B
Autos: Tesla Model S and X production will shut down for 18 days: email | C
Consumer: Kraft Heinz Director Elio Leoni Sceti Bought Up Shares | BR
Energy: As Activists Gather, Exxon Mobil Faces Pressure to Change | BR
Energy: The New Green Energy Giants Challenging Exxon and BP | W
Financials: Mercury General Stock’s Hefty 5.4% Yield Is Just One of the Auto Insurer’s Many Charms | BR

Virus I
Coronavirus live updates: Vaccine doses are shipping to all 50 states | C
Historic U.S. COVID vaccine campaign launches with convoy of trucks | R
CDC panel recommends Pfizer Covid vaccine for people 16 years and older, clearing pivotal hurdle | C
Getting Everyone Vaccinated, With ‘Nudges’ and Charity Auctions | N
Getting Covid Vaccines to People Will Cost States Billions They Don’t Have | W
Vaccinated? Show Us Your App | N
CA Notify coronavirus app gets 4 million activations in first day | C

Virus II
U.S. hits 16 million COVID cases even as vaccine begins roll-out | R
Germany to impose stricter lockdown to battle Covid-19 | C
South Korea’s Moon warns of toughest COVID-19 curbs after two days of record cases | R

Corporate finance I
AstraZeneca Agrees to Buy Alexion for $39 Billion | W
Sizzling Tech IPO Market Leaves Investors Befuddled | W
10 biggest tech IPOs ever; three in 2020, two last week | C

Corporate finance II
Affirm Postpones Its Initial Public Offering | W
Roblox Delays IPO Until Next Year | W

Offbeat
Covid: Airbnb workers ditch apartments amid pandemic | C

Dec 12 (Saturday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock market today: S&P 500 falls, heads for 3-day losing streak as stimulus uncertainty remains | C
The market has rarely been this expensive — and nobody cares | NN
Who Saved the U.S. Stock Market Last Spring? | Morningstar

Central banks
Fed ‘Manipulation’ Crushes Can’t-Miss Trade in U.S. Bond Market | B

US I
Americans increasingly see the stock market as a barometer just for the rich, not the whole economy | C
Household net worth hits record $123.5 trillion amid stock market surge | C
U.S. Consumer Sentiment Rose in Recent Weeks | W

US II
American state and city governments are bleeding out | The Week
Female Workers Could Take Another Pandemic Hit: To Their Retirements | N
New York City will shut indoor dining starting Monday, Gov. Cuomo says | C
Another restaurant shutdown will kill a lot of dreams — including for ‘second chancers’ | P

US politics
Senate passes one-week government funding extension, sends it to Trump | C
Senate passes $740 billion defense bill as Trump veto threat looms | C
Trump loses Wisconsin lawsuit that sought to invalidate 221,000 ballots | C
Biden Cabinet Gets Mixed Grade So Far From Progressive Groups | W

Industries & companies
Energy: The New Green Energy Giants Challenging Exxon and BP | W
Media: ‘Star Wars,’ ‘Pinocchio’ and More as Disney Leans Sharply Into Streaming | N
Media: Disney is executing streaming better than competition | C

Virus
FDA approves Pfizer’s Covid vaccine for emergency use | C
Covid-19 Vaccination in Europe to Roll Out Slowly | W
Walgreens may begin Covid vaccinations at nursing homes before Christmas | C

Corporate finance
Tech IPO Bonanza Yields Riches for Venture-Capital Firms | W
Jim Cramer calls IPO pricing ‘broken’ after Airbnb, DoorDash debuts | C
Facebook’s Sandberg says government shouldn’t approve mergers and revoke them | C

Technology
QuantumScape building electric car battery that charges to 80% in 15 minutes | C

Dec 11 (Friday)

YRI
Morning Briefing PDF
Daily Markets

Markets
U.S. Stocks Wobble as Economic Picture Dims | W

Central banks
ECB Expands Stimulus Program to Prop Up Pandemic-Hit Economy | W
In Europe, Monetary Policy Is All About Giving Banks Free Money | W

US
Covid-19 Aid Bill Negotiators Seek Compromise on Liability Shield | W
The Covid Divide: The pandemic economy has hurt some, but helped others | N
Supply Chains and Demand by Richard Haass | Project Syndicate

US politics
Here’s what Biden’s first 100 days could mean for health care, energy and more key sectors | MW
Joe Biden Names Susan Rice to Lead White House Domestic Policy Council | W

China
China’s Xi Ramps Up Control of Private Sector. ‘We Have No Choice but to Follow the Party.’ | W

Industries & companies
Consumer discretionary: Amazon Wants to Train 29 Million People to Work in the Cloud | W
Energy: ‘Is Exxon a Survivor?’ The Oil Giant Is at a Crossroads. | N
Media: Disney Investor Day 2020 announcements | C
Tech: Oracle (ORCL) earnings Q2 2021 | C

Virus
New York New Covid Cases Near April 15 Record After Months of Control | B
FDA Advisory Panel Expected to Approve Pfizer-BioNTech Covid-19 Vaccine | W
Moderna (MRNA) Offers US Fail-Safe on Covid Vaccines if Pfizer (PFE) Falls Short | B
Dr. Fauci says Covid vaccine trials on pregnant women and young kids could begin in January | C
U.S. FDA advisers wrestle with ethical issues linked to authorizing Pfizer’s COVID-19 vaccine | R
GPS tracking, priority landing among special treatment for coronavirus vaccines, FedEx, UPS say | C
CVS Health has 10,000 staffers ready to vaccinate seniors at nursing homes | C
Walmart prepares to administer Covid vaccines at stores across U.S. | C

Corporate finance
Corporate America’s Borrowing Binge May Be Ending | W
Airbnb IPO: ABNB starts trading on the Nasdaq | C
Gilead to Pay $1.4 Billion for Hepatitis Drugmaker MYR GmbH of Germany | W

Dec 10 (Thursday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Euro Rally Weighs on Inflation, Sapping Appetite for Stocks | W
Wall Street forecasters see the ‘gradual reflation story’ lifting bond yields in 2021 | MW

US
U.S. Job Openings Slipped in Early December | W
Housing is doing something it hasn’t done since the bubble | C

China
Chinese Consumer Prices Show First Annual Decline Since 2009 | W

US politics
Government shutdown: House votes to fund government for one week | C
What if Democrats Sweep the Georgia Senate Runoffs? | Morningstar
Trump’s Challenges to Election Results Face End of the Legal Road | W
Opinion: Biden’s economic picks show that we are in good hands – CNN
Joe Biden son Hunter Biden under federal tax investigation | C

Industries & companies
Communication services: Facebook faces U.S. lawsuits that could force sale of Instagram, WhatsApp | R
Media: Disney to Reveal Plans to Turbocharge Streaming Offerings | N
Restaurants: Starbucks shares jump as coffee chain predicts strong rebound next year | C

Virus
‘Lockdown Lite’ Spares Economies but Doesn’t End Pandemic | W
Covid vaccine: FDA will likely scrutinize allergic reactions to Pfizer’s vaccine in UK before clearing use in U.S. | C
Canada Authorizes Covid-19 Vaccine From Pfizer and BioNTech | W
Covid vaccine: Dry ice sales skyrocket as hospitals prepare to deliver shots | C
U.S. Supplies of Covid-19 PPE Fall Short of Targets | W
Pandemic Closures Devastate Restaurant Industry’s Middle Class | N

Corporate finance
AT&T Fields DirecTV Offers Above $15 Billion Including Debt | W
DoorDash IPO: DASH starts trading on the NYSE
Airbnb IPO raises at least $3.5 billion, challenging DoorDash and Snowflake for largest IPO of the year | MW

Offbeat
SpaceX Starship rocket SN8 explodes after high-altitude test flight | C

Dec 09 (Wednesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
S&P 500, Nasdaq Close at Records | W
China Stocks Face $722 Billion Overhang as Insider Lockups End | B

US
Student loan payments paused by Covid won’t restart until February | C

US politics
Coronavirus stimulus update: McConnell backs off liability demand | C
Senate’s McConnell urges dropping liability, state aid in COVID-19 deal; Schumer rejects | R
Trump pushes for $600 stimulus checks as Democrats press for double that | MW
Texas asks U.S. Supreme Court to help Trump upend election in long-shot lawsuit | R
Biden Introduces His Coronavirus Team as Lawmakers Scrutinize Picks | W
Biden Vows 100 Million Doses of Vaccine Within His First 100 Days | B

Geopolitics & trade
China Pushes Alternative Theories About Origin of Covid-19 | W

Industries & companies
Airlines: JetBlue puts raises, paid parental leave on hold to cut costs in 2021
Autos: Ford F-150 ‘Tremor’ pickup announced with new off-road adds
Wireless: Long-Awaited 5G Auction Expected to Stretch Carriers’ Balance Sheets | W

Virus I
FDA Says Pfizer-BioNTech Vaccine Is Safe, Effective | W
What to expect from the FDA’s important COVID-19 vaccine meeting Thursday | MW
Covid vaccine side effects: What it’s like in Pfizer, Moderna trials | C
U.K. Begins Rollout of Pfizer’s Covid-19 Vaccine in a First for the West | W

Virus II
Covid vaccines: Fauci says virus could be under control in ‘back half of 2021’ | C
Gavin Newsom’s New Stay-at-Home Order a ‘Deathblow’ to California’s Small Businesses | Reason
As U.S. companies push to get workers vaccinated, states disagree on who’s essential | R
AstraZeneca Missteps Undermined U.S. Faith in Coronavirus Vaccine | N

Corporate finance
Goldman Sachs to Acquire 100% of China Securities Joint Venture | W

Cybersecurity
FireEye, a Top Cybersecurity Firm, Says It Was Hacked by a Nation-State | N

Offbeat
Elon Musk confirms he moved to Texas | C

Dec 08 (Tuesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock market today: Dow falls more than 100 points as Covid-19 cases continue to rise, Nasdaq hits record | C
This chart estimates how much the stock market was moved by COVID this year | MW
Demand for Corporate Bonds Drives Inflation-Adjusted Yields to Zero | W

US
U.S. Consumer Credit Growth Slows as Credit Card Balances Shrink | B
What Might Unite a Divided Washington Behind Joe Biden? Unsexy Infrastructure | W

US politics
Coronavirus stimulus update: Congress tries to reach relief deal | C
Unemployment benefits: What’s in the $908 billion Covid relief bill | C
Georgia Again Certifies Biden’s Win | W
Schumer calls on Biden to cancel $50,000 in student debt per borrower | C

Geopolitics & trade
China Exports Generate Record Trade Surplus | W
Covert Chinese Trade With North Korea Moves Into the Open | W

Industries & companies
Airlines: From Pilot to Truck Driver—Airline Careers Grounded by Pandemic | W
Retail: With 3 Billion Packages to Go, Online Shopping Faces Tough Holiday Test | N
Retail: Stitch Fix (SFIX) shares skyrocket on earnings beat, upbeat outlook | C
Telecom: FCC Awards $9.2 Billion for Construction of Rural Broadband Networks | W

Corporate finance
‘This Is Insanity’: Start-Ups End Year in a Deal Frenzy | N

Virus I
California bans private gatherings, New York expands hospitals to battle coronavirus surge | R
Americans prepare to travel again for Christmas, while hospitals brace for ‘bad outcomes’ post-Thanksgiving | MW
Average daily new Covid cases, deaths approach U.S. records | C

Virus II
Covid vaccine: FDA may authorize Pfizer’s this week | C
Who Gets Covid-19 Vaccine First? Hospitals Assess How to Divvy Up Shots | W
Trump to sign Covid-19 vaccine executive order prioritizing Americans | C
The challenges and perils of transporting millions of COVID-19 vaccines with dry ice across the U.S. | MW

Virus III
AstraZeneca and Pfizer Ask India for Emergency-Use Covid-19 Vaccine Authorizations | W
AstraZeneca Vaccine Partner in China Dogged by Scandal | N
Covid vaccine: Can you be fired if you refuse to take it | C

Technology
Uber Giving Self-Driving Car Project to a Start-Up | N

Corporate finance
Airbnb Boosts IPO Price Range to Between $56 and $60 a Share | W

Offbeat
Bob Dylan Sells Entire Songwriting Catalog | W

Dec 07 (Monday)

YRI
Record highs are justified because economy will boom: Ed Yardeni | C
Morning Briefing PDF
Daily Markets

Markets
A popular stock-market indicator flashes red as Dow soars to records Friday | MW
The Biggest Investment Opportunity for Americans Is China, Bridgewater’s Karen Karniol-Tambour Says | BR
Climate Change Is the Biggest Investment Opportunity Post-Covid, the CEO of RockCreek Says | BR
Soaring Metals Prices Signal Bets on Global Economic Recovery | W

US
You must believe in spring – America’s economic recovery no longer looks so strong | United States | E
The Puzzle of Low Interest Rates | N
Goldman Plots Florida Base for Asset Management in NYC Blow | B
Five Pricing Moves Companies Made in 2020, From Zoom to Peloton | W
Hit by Covid-19, Colleges Do the Unthinkable and Cut Tenure | W
Opinion: I almost lost my business in March. More stimulus will prevent me from losing it for good | NN

Europe
Europe Seeks to Boost Pandemic-Damaged Economy by Spending  | W

US politics
Biden to Nominate Xavier Becerra as Health and Human Services Secretary | W
Georgia Rejects Trump’s Request to Reverse His Election Loss | W

Geopolitics & trade
Towards a better nuclear deal – Joe Biden should drive a hard bargain with Iran | Leaders | E

Industries & companies
Communication services: Google Spars With Barry Diller’s IAC on Marketing Practices | W
Energy: Killing coal – Time to make coal history | Leaders | E

Virus
Birx: Winter Covid surge the ‘worst event that this country will face’ | C
Covid-19 deaths could nearly double by April despite vaccines | C
Coronavirus: Southern California, San Joaquin Valley trigger stay-at-home order | C
Rudy Giuliani Tests Positive for Covid-19, Admitted to Hospital | W
Why the Coronavirus Pandemic Wasn’t a Black Swan Event. We Must Prepare for More Outbreaks. | BR
Your Boss Can Restrict Your Holiday Plans in the Pandemic | W

Corporate finance
Airbnb Boosts IPO Price Range to Between $56 and $60 a Share | W

Dec 05 (Saturday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock market today: Dow jumps more than 200 points to a record even after a big U.S. jobs report miss | C

Central banks
Fed’s Evans, Disappointed by Jobs Data, Isn’t Ready for More Fed Stimulus | W

US
U.S. Added 245,000 Jobs Last Month as Hiring Slowed | W
U.S. labor market losing steam as COVID-19 pandemic rages | R
Five worrying takeaways from Friday’s U.S. jobs report | R
Explaining the Frenzy in the Housing Market | N

US politics I
Biden says jobs report ‘grim,’ relief package needed now and in January | R
Biden says $1,200 stimulus checks ‘may be still in play’ in Covid relief talks | C
Weakening Jobs Numbers Spur Covid-19 Aid Efforts | W

US politics II
A Monetary Mind at the Treasury by John B. Taylor | Project Syndicate
Trump loyalist Loeffler’s attacks on pastor Warnock risk suburban votes in Georgia’s U.S. Senate race | R
Federal student loan payments suspended until end of January | R
House passes bill to decriminalize marijuana, set up steps to wipe out convictions | C

Industries & companies
Autos: Ford delaying Bronco SUV to summer 2021 due to Covid-related issues | C
Materials: Glencore CEO Ivan Glasenberg to Retire After 18 Years at the Helm | W
Media: AT&T dismantles Time Warner to battle Netflix: The inside story | C
Retail: Your Covid-19 Shopping Habits Are Changing What Jobs Are Available | W
Tech: Apple offers free fix for iPhone 11s that no longer respond to touch | C
Tech: Will Zoom video chat still dominate after a Covid-19 vaccine? Microsoft Teams, Cisco, or Google could knock off the crown. | Vox

Virus
California Covid: Stay-at-home order issued for San Francisco Bay Area | C
Analysis: First U.S. delivery of COVID-19 vaccine will leave out many high-risk workers | R
China’s Digital Response to Covid-19 Hits a Glitch—Seniors Don’t Understand It | W
Paramedics under ‘extreme stress’ as Covid toll climbs: Ambulance company CEOs | C

Offbeat
Crew Battles Raging Wildfires in Southern California | W
U.S. sells more than $175 billion in weapons to foreign governments | C

Dec 04 (Friday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Dow Industrials Edge Higher as Unemployment Claims Drop | W
S&P 500 falls slightly from a record on coronavirus vaccine concerns | C

Central banks
A Trump Fed Pick Squeaks Through Senate Confirmation | N

US
Covid Shrinks the Labor Market, Pushing Out Women and Baby Boomers | W
Opinion: Our stimulus plan will rescue renters | NN
Up to 30 Million in U.S. Have the Skills to Earn 70% More, Researchers Say | N

US politics
$908 billion coronavirus aid bill draws conservative backing in U.S. Congress | R
What’s the Difference Between Bipartisan, McConnell Stimulus Plans? Comparison | B
Coronavirus stimulus update: McConnell and Pelosi will speak about relief deal | C
Biden names top economic adviser Deese to fight climate change, jobs crisis | R
Georgia Senate runoffs focus on stock trading, Trump’s false claims of rigged elections | C

Geopolitics & trade
China Is National Security Threat No. 1 | W
Bill forcing Chinese firms to meet U.S. accounting standards passes Congress | C
Ahead of U.S. Audit Bill, Chinese Companies Are Finding Their Way Home | W
Pentagon blacklists China chipmaker SMIC and oil producer CNOOC | C
U.S. in Talks With Huawei Finance Chief Meng Wanzhou About Resolving Criminal Charges | W

Industries & companies
Airlines: U.S. airlines cut 29,000 workers through mid-October: Transportation Department | R
Airlines: Southwest Airlines warns it could furlough 6,800 employees to cut costs | C
Consumer discretionary: More than 400 lawmakers from 34 countries back ‘Make Amazon Pay’ campaign | R
Media: Warner Bros. to release every 2021 movie on HBO Max at same time as theaters | C
Media: WarnerMedia CEO Jason Kilar doesn’t think he destroyed movie theaters | C
Media: AMC Says It Might Go Bankrupt if You Don’t Buy Its Stock | W
Retail: 2020 Holiday Sales: How, Where and When Consumers Are Buying | W

Virus
California Covid: Newsom to impose regional stay-at-home order to ease hospitalizations | C
Biden Says He’ll Ask Americans to Wear Masks for 100 Days After He Takes Office | W
Biden says he has asked Fauci to stay on and join COVID-19 team | R
Pfizer’s Covid vaccine: Why U.K. approved but not the U.S. yet | C
Fauci Slams U.K. Regulator on Pfizer Review, Then Mutes Critique | B
Moderna to supply up to 125 million COVID-19 vaccine doses globally in first quarter | R
Covid Vaccine Side-Effects Could Sideline Health-Care Workers During Case Surge | B

Offbeat
How to protect your mental health and fight ‘COVID fatigue’ this winter | MW
Rich get richer? Here’s the math | MW

Dec 03 (Thursday)

YRI
Morning Briefing PDF
Daily Markets

Markets
S&P 500 hits record as investors await fiscal deal | R
The oil industry narrowly avoided an election disaster. Now it’s showing signs of life | N

Central banks
Powell Says No Rush to Taper Bond Purchases, Mum on Doing More | B
Kaplan says he’s not in favor of Fed increasing bond purchases | C
Mnuchin Defends Decision to End Fed Lending Programs | W
Senate Moves to Confirm Trump Fed Nominee Waller, But Shelton’s Candidacy Hits Likely Dead End | W
ECB Official Defends Private Calls to Investors and Banks After Policy Meetings | W

US
These ‘Little Land Mines’ Could Prevent a Summertime Boom | N
Mortgage Refinancing Wave Not Letting Up, to Investors’ Chagrin | B
New PPP Data Show Coronavirus Aid Flowed to Large and Small Firms Alike | W

China
China Has One Powerful Friend Left in the U.S.: Wall Street | W

US politics
Trump hints at 2024 run, Biden to meet with U.S. workers hit by pandemic | R
Coronavirus stimulus update: Pelosi and Schumer back bipartisan relief bill | C
Biden to Have a Better Economy in 2021 Than in 2009, But Worse Options | W
The myth of Biden’s 100% renewable energy pledge | Washington Examiner

Industries & companies
Airlines: American Airlines starts Boeing 737 Max flights to boost confidence in jets | C
Autos: Porsche investing $24 million in ‘e-fuels’ for traditional sports cars | C
Retail: UPS Slaps Shipping Limits on Gap, Nike to Manage E-Commerce Surge | W

Virus
Trump Covid vaccine czar says U.S. should be able to immunize nearly third of population by end of February | C
CDC’s Redfield says ‘the most difficult’ months in health history loom | C
As coronavirus soars, U.S. cheers Britain’s vaccine approval | R
What we still don’t know about COVID vaccines after the U.K.’s emergency-use authorization of the Pfizer-BioNTech candidate | MW
CDC Shortens Recommended Covid-19 Quarantine Period to Seven to 10 Days | W
NFL playoff training camps likely if Covid-19 cases continue | C
Covid vaccine: Obama will take doses, might film to build confidence | C

Corporate finance
Salesforce stock closes down more than 8% as Wall Street questions necessity of Slack purchase | MW