Dr. Ed's Blog

Nov 06 (Friday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Dow surges more than 500 points, heads for best week since April as post-election rally continues | C
Why Wall Street is so pumped about the 2020 election | NN
Fading Hopes of Big U.S. Spending Pull Down Yields Overseas | W
Buttonwood – Why dollar assets are still riding high after America’s election | E

Central banks
Fed decision November 2020: Interest rates steady near zero | C
Fed to add new details to quarterly economic forecasts | R
Federal Reserve Doesn’t Have to Just Wait on Washington | W
Bank of England Boosts Stimulus as U.K. Battles Second Wave of Covid-19 | W

Global
Western Economies Embrace State Intervention, Emulating Asia | W

US
U.S. Unemployment Benefits Claims: More Americans Than Forecast File | B
Homeowners and buyers are the real winners in this election | C
How Much Debt Do Millennials Have? | C
Amid election uncertainty and viral surge, U.S. economic recovery wobbles | R
Voters Back at Least $26.7 Billion of Municipal Borrowing Plans | B
$68 trillion transfer of wealth in America is evaporating amid crisis

China
Beijing Wants to Treat Ant Like a Bank and Its Value Hangs in the Balance | W

US politics
Presidential Election Comes Down to a Few States as Vote Counting Continues | W
2020 Election Lesson: Trump’s Coalition Proved Durable | W
Facebook Takes Down Group Organizing Protests of Vote Counting | W
2020 election results: Democrats to lose House seats but keep majority | C
Control of U.S. Senate Hinges on Georgia Results | W
Long at odds with Trump, Defense Secretary Esper has prepared a resignation letter, officials say | C

Industries & companies
Autos: GM Rebounds From Coronavirus-Related Losses | W
Autos: Famed luxury carmaker Bentley to go fully electric by 2030 | C
Fitness: Peloton (PTON) reports fiscal Q1 2021 earnings, sales beat | C
Insurance: AIG’s Net Income Fell in Third Quarter | W
Media: ESPN Cuts Jobs as Parent Disney Contends With Covid-19 Pandemic | W
Restaurants: Fast Food’s Bet on Breakfast Goes Bust During Covid-19 Pandemic | W
Tech: Uber Posts Third-Quarter Loss as Pandemic Continues to Hurt Rides | W

Virus
Covid-19 Vaccine Safety Efforts to Feature App Tracking of Vulnerable Groups | W

Corporate finance
IAC considers Vimeo spinoff after achieving $2.75 billion valuation | C

Nov 05 (Thursday)

YRI
Morning Briefing PDF
Daily Markets
Does politics matter for investors? | MoneyWeek

Markets
U.S. stock futures rise, extending the post-election rally | C
Stocks jump as Wall Street thinks tight U.S. election means gridlock | R
As ‘Blue Wave’ Chances Crash, Wall St. Warms to Divided Government | N
The Nasdaq is skyrocketing. That may not be a great sign for the economy | NN
U.S. Treasury Yields Fall on Reduced Stimulus Expectations | W

Central banks
Fed wants low profile but may repeat that the economy needs stimulus | C

US
U.S. employment, services industry data point to slowing economic recovery | R
U.S. Service Providers Saw Continued Growth in Activity in October | W
U.S. Trade Deficit Narrowed in September as Exports Rose | W

US politics
McConnell Says Congress Should Pass Economic Relief Bill This Year | W
U.S. Supreme Court may not have final say in presidential election, despite Trump threat | R
2020 election: Trump sues over Michigan, Pennsylvania ballots | C
Election 2020: Trumpism Isn’t Going Away Even If Trump Loses | B
Republicans on track to dash Democratic hopes of U.S. Senate majority | R

Industries & companies
Autos: Ford’s new CEO promises investors more transparency, reports October sales declined 6.1% | C
Energy: Cold Weather Thaws Natural-Gas Prices | W
Financials: Allstate, MetLife Report Mixed Results as Pandemic Continues | W
Retail: Supermarkets Get New Looks as Shoppers Adapt to Pandemic | W
Tech: Qualcomm (QCOM) earnings Q4 2020 | C

Corporate finance
Suspended Ant IPO Shows Growing Regulatory Focus on Fintech Giant | W

Virus
Face Masks Are Again in Short Supply as Covid-19 Cases Surge | W

Offbeat
Oregon Votes to Decriminalize All Drugs, Allow Psilocybin for Mental-Health Treatment | W

Nov 04 (Wednesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock market today: Stocks rally on Election Day, with the Dow jumping more than 500 points | C
Some bond traders are bracing for a ‘rate-shocker’ after U.S. Election Day | MW
Utilities Stocks Shed ‘Safety’ Image as Investors Bet on Blue-Wave Bump | W

US politics
Treasury Dials Back Estimates for U.S. Borrowing as Stimulus Talks Stall | W
How prospects for more stimulus could change based on the election | C
Who Is Ben Harris, the Quiet Architect of Biden’s Economy Plan? | N
U.S. Election Day unfolds smoothly, so far defying fears of disruption | R
All that plywood tells you the real post-election fear is pro-Biden rioting | P

Industries & companies
Autos: Musk: Tesla was ‘about a month’ from bankruptcy during Model 3 ramp | C
Financials: JPMorgan warns of another potential regulatory fine tied to weak ‘internal controls’ at bank | C
Retail: Comcast, Walmart in Talks to Develop and Distribute Smart TVs | W
Tech: Why Fewer Chips Say ‘Made in the U.S.A.’ | W

Virus
Coronavirus update: U.S. headed for ‘most deadly phase’ of pandemic, says Dr. Birx, contradicting Trump’s insistence it has rounded a corner | MW
Death by Lockdown | AIER
If Restaurants Go, What Happens to Cities? | N
Remote Learning? In Person? Families Second-Guess Their School Choices as Covid Cases Rise | W
How a Boy With Autism’s World Turned Upside Down When Pandemic Shut School | W

Corporate finance
Ant Group IPO in Shanghai and Hong Kong is suspended | C
AT&T considers selling significant minority stake in pay-TV business | C

Nov 03 (Tuesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
S&P, Dow Industrials Close Higher as Election Looms | W
The stock market has made its prediction about who will win the election | NN
The bears have ripped control away from the bulls — and if the S&P 500 falls below this level, it could get ugly | MW
Changing your portfolio based on this election may be a mistake as the Fed could matter more | C
Euro Stoxx Benchmark Index Fails to Calculate Prices at Open | W

Central banks
Virus, political risk, rising as Fed takes stock of post-election landscape | R

US
Americans eager to shop despite pandemic, NRF’s Kleinhenz says | C
Factories Bounce Back as Consumers Snap Up Goods | W
Mortgage IPO Boom Faces Market Turbulence | W
Covid-19 Slammed Rental-Car Firms, Then Business Turned Around | W
States Hire Consultants for Covid-19 Help, With Mixed—and Expensive—Results | W

US politics I
Trump takes polling lead in North Carolina and Biden remains ahead in other battlegrounds, with one day until election | MW
Former Gov. Scott Walker: Donald Trump has the better economic plan and record – and my vote | FO
Trump’s energy plan will cost the nation trillions | TheHill
Biden energy plan may be more similar to Trump policy than expected | C
Elite Democrats could destroy the middle class if Biden wins | P

US politics II
Trump vs. Biden: Judge tosses Harris County drive thru voting lawsuit | C
Uber, Lyft rise as investors expect California voters to pass Prop 22 | C

Geopolitics & trade
Global markets under Trump: Build the Wall (Street)!… and China | R
Air Force Purchase of Chinese Drones Spurs Security Concerns | W

Industries & companies
Consumer: Clorox Books Record Sales Jump on Disinfectant Demand | W
Energy: The utility that beat Big Oil to climate model it needs for future | C
Financials: Eight big banks must face U.S. cities’ allegations of municipal bond collusion | R
Retail: Malls Dragged Into Bankruptcy by Carnage at Retail Tenants | B
Retail: Walmart ends contract with robotics company Bossa Nova, report says | C

Virus I
New Jersey Sees Second Wave of Covid Cases to Peak in 2021 First Quarter | B
Governor Baker announces tighter mask mandate, other COVID-19 restrictions | Boston Globe
Coronavirus update: Trump threatens to fire top infectious-disease expert Fauci as U.S. deaths top 231,000 | MW

Virus II
Europe’s COVID-19 curbs prompt pushback amid bleak countdown to Christmas | R
France sees record number of new COVID-19 cases, hospitalisations spike | R
T-cell study adds to debate over duration of COVID-19 immunity | R
China’s Race for Covid-19 Vaccine Raises Safety Questions | B

Technology & cybersecurity
Alphabet X Project Amber uses EEG to monitor depression | C
SEC’s Jay Clayton on cybersecurity threats to corporate America | C

Corporate finance
Chinese Regulators Summon Ant Leaders Ahead of Gigantic IPO | W
Stonepeak Infrastructure to Buy Cable Provider Astound Broadband | W

Nov 02 (Monday)

YRI
Painful sell-off is running out of steam: market bull Ed Yardeni | C
Morning Briefing PDF
Daily Markets

Markets
Fund Manager Nightmare Is Biden Without Blue Wave Congress | B
How to Use the Election to Buy Stocks at a Bargain Price | BR

Central banks
Why Jerome Powell Is the Winner No Matter the 2020 Presidential Election Results | BR
Fed Turns Attention to Asset Purchases After Spelling Out Low-Rate Pledges | W
Fed Not Expected to Ramp Up Bond Buying This Year or Next | B

Global
Companies Fret Over Coronavirus Despite Rebound | W

US I
The Economy’s Bungee-Jump Recovery Was Impressive—but It’s Not Enough | BR
The Housing Market Boom May Soon Wind Down. Here’s How to Play It. | BR
Is finding a job harder when you’re unemployed? | C

US II
The great divergence: U.S. COVID-19 economy has delivered luxury houses for some, evictions for others | R
Why high earners in finance and tech left New York City | C
Tech Workers Take to the Mountains, Bringing Silicon Valley With Them | W

US politics
U.S. coronavirus cases keep rising in grim march to Election Day | R
Analysis: Bidencare or Trumpcare? Health plans will affect the U.S. economy differently | R

Geopolitics & trade
China Is at Odds With the U.S. It Still Has an Open Door for Wall Street. | BR

Industries & companies
Airlines: Airlines’ New Pricing Strategy: Buy One, Get One Free | W
Media: Why Netflix will keep raising prices with confidence | C
Tech: Apple, Amazon and Facebook warn about pandemic, civil unrest | C

Virus I
U.S. reports record 99,321 new coronavirus cases as scientists warn latest surge just beginning | C
Europe’s COVID-19 cases double in five weeks, total infections surpass 10 million | R
Coronavirus England: Boris Johnson imposes stay at home order as cases surge | C
Italy tightens COVID-19 restrictions, plunging Venice back into ‘victorious solitude’ | MW
Guidelines for COVID-19 tests for airline passengers could set global bar for reliability, sources say | R

Virus II
Doctors Begin to Crack Covid’s Mysterious Long-Term Effects | W
Drone Startups Aim to Carve Out Role in Delivery of Potential Covid-19 Vaccine | W
Staffing at Some Nursing Homes Plummeted During Early Covid-19 Outbreaks | W

Corporate finance
AMD and Its Chip Rivals Are Making Big Acquisitions. What It Means for Stocks. | BR

Technology
How salt caverns may trigger $11 trillion hydrogen energy boom | C

Offbeat
How the Wealthy World Has Failed Poor Countries During the Pandemic | N

Oct 31 (Saturday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock market today: Dow closes more than 150 points lower as Wall Street posts its worst one-week sell-off since March | C
The stock market’s ‘presidential predictor’ is forecasting a Biden victory | MW
These are the worst-performing stocks in October as Big Tech slumps | MW
China’s Mega Listings Intensify Rivalry Between Stock Exchanges | B
Labor Department finalizes U.S. rule curbing sustainable investing by pension funds | R

Central banks
The Fed could face more pressure to act: ‘They don’t have the luxury of time anymore’ | C
Fed Again Eases Terms for Main Street Lending Program | W

US
U.S. Household Spending Rose 1.4% in September | W
The economy could lose a generation of working mothers | Vox

US politics
Investors are hoping for a clear presidential and Senate election outcome to end the sell-off | C
Coronavirus stimulus update: Pelosi, McConnell, Trump talk relief deal | C
Boarded-Up Windows and Increased Security: Retailers Brace for the Election | N

Europe
Europe’s Airlines Cut Flights as Virus Cases Rise, Governments Lock Down | W

Industries & companies
Media: Netflix Raises Prices as Competition Increases | W
Tech: AirPods Pro static issues: Apple confirms sound problem, will replace free | C

Corporate finance
Ant IPO Sets Off $3 Trillion Scramble Among Small Investors | W
Dunkin’ to Be Sold to Inspire Brands for $11.3 Billion | W
Credit Karma in Talks to Sell Tax-Preparation Business to Square | W

Technology
Why NASA’s moonshot, Boeing, Bezos and Musk have a lot riding on U.S. election | R

Virus
U.S. only at ‘the beginning of the steep part’ of the coronavirus pandemic, Dr. Scott Gottlieb says | C
Latest Covid-19 Wave Worries Hospitals Even With New Treatments | W
Restaurants see new Covid restrictions as U.S. cases hit record high | C

Offbeat
The First Covid Sports Season Is Over. Here Are the Lessons. | W

Oct 30 (Friday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Dow futures fall 150 points as Apple and Amazon shares decline after earnings | C
Dow Industrials Snap Four-Session Losing Streak | W
Bets on Biden-Led Stimulus Fuel Outperformance by Small Stocks | W

Central banks
ECB Signals Further Stimulus Ahead to Prop Up Struggling Economy | W

US
U.S. Economy Recovered Significant Ground in Record Third-Quarter GDP Rebound | W

US politics
Coronavirus stimulus update: Pelosi, Mnuchin trade harsh letters as talks stall | C
Record-breaking early voting in U.S. election tops 80 million | R
Biden and Trump make their final appeals to crucial voters in Florida | C

China
China Stresses Reliance on Its Own Technologies in Five-Year Plan | W

Geopolitics & trade
Trump’s China Scorecard Shows Many Defeats, and One Big Change | B

Industries & companies
Airlines: Delta and pilot union reach preliminary deal to avoid furloughs until 2022 | C
Airlines: Covid-19 Testing vs. Quarantines for International Flights | W
Communication services: Facebook (FB) earnings Q3 2020: users decline in U.S. and Canada | C
Communication services: Facebook Posts Record Revenue Despite Ad Boycott | W
Communication services: Google Parent’s Stock Soars on Gangbuster Earnings | W
Consumer discretionary: Amazon Sales Surge Amid Pandemic-Driven Online Shopping | W
Consumer discretionary: Amazon forecast reflects $4 billion in Covid-related costs | C
Energy: Exxon to Slash Up to 15% of Global Workforce, Including 1,900 Jobs in U.S. | W
Restaurants: Starbucks (SBUX) Q4 2020 earnings top estimates | C
Restaurants: Starbucks Says Customers Are Coming Back to Cafes | W
Tech: Megacap Tech AAPL, AMZN, FB, GOOG Stock Earnings Disappoint Investors | B
Tech: Apple’s weak iPhone sales show people were waiting for the new models | C
Tech: Apple has $191.83 billion in cash on hand, down $14 billion from 2019 | C

Virus
Europe’s Covid-19 Cases and Deaths Are Climbing, a Warning for the U.S. | W

Cybersecurity
Hackers Steal $2.3 Million from Trump Wisconsin Campaign Account | W

Corporate finance
Ant IPO Promises $8 Billion Gain for Elite Group of Foreign Investors | W

Offbeat
We asked how the pandemic changed your money habits. Here’s what you said | NN

Oct 29 (Thursday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stocks Close Sharply Lower on Rising Coronavirus Cases | W
Stock-market rout: How did rising coronavirus cases catch investors by surprise? | MW
S&P financials index may be bruised but not without bright spots | R
Pandemic’s latest spread triggers surge in VIX ‘fear gauge’ for U.S. stocks | R

US
U.S. States Face Biggest Cash Crisis Since the Great Depression | W
New York’s MTA Says Region Risks $65 Billion Economic Loss | B
Philadelphia Imposes Curfew After Unrest Sparked by Walter Wallace Jr.’s Shooting | W

US politics
Pelosi Says Details of Coronavirus Package Could Change After Election | W
Many on Wall Street Who Predicted a Trump Win in 2016 Aren’t So Sure Now | W
Biden’s polling lead adds to market fears the economy will need to wait until next year for stimulus | C
Former U.S. Homeland Security official says he wrote anonymous op-ed on Trump | R
Russian in Cyprus Was Behind Key Parts of Discredited Dossier on Trump | W

Geopolitics & trade
EU arms itself against U.S. and others in trade disputes | R
Tariffs Didn’t Fuel Revival for American Steel | W
Lower air quality in China points to iPhone 12 production surge | C

Industries & companies
Aerospace: Boeing Cutting More Jobs in Response to Pandemic | W
Autos: Ford (F) earnings Q3 2020
Logistics: UPS Package Volumes Swell, but U.S. Profits Shrink | W
Pharma: Remdesivir: Gilead’s revenue rises 17% on sales of coronavirus treatment | C
Tech: Tech CEOs Square Off With Senators in Hearing Over Online Speech | W
Tech: Microsoft’s Earnings Continue to Ride Pandemic-Fueled Demand for Cloud, Videogaming | W
Tech: Sony Gets Lift From Stay-at-Home Demand Ahead of PlayStation 5 Launch | W

Virus
Covid in Australia: Melbourne’s 3-Month Lockdown Has Bleak Lessons for World | B
France and Germany thrust into lockdown as second COVID-19 wave sweeps Europe | R
Covid cases, hospitalizations continue to surge as U.S. reaches ‘critical point’ in pandemic | C
Here are all the reasons COVID-19 cases are surging again | MW
Covid-19 Vaccine Won’t Be Available Until January at Earliest, Fauci Says | B
Severe Covid-19 Cases Leave Lasting Effects, Including on Mental State | W

Corporate finance
Tiffany, LVMH Near Agreement on New Deal Terms | W

Offbeat
Category 2 Hurricane Zeta crashes ashore in storm-weary Louisiana, dealing new blow in busy Atlantic hurricane season | C

Oct 28 (Wednesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
S&P 500, Dow slip on worries about earnings, U.S. stimulus outlook | R
Stock Investors’ Bets Eye a Biden Victory, Robust Stimulus | W

US
U.S. Durable-Goods Orders Rose for Fifth Consecutive Month in September | W
U.S. Home-Price Growth Accelerated in August | W
Consumer confidence falls in U.S. swing states ahead of presidential election | R
Why the Best G.D.P. Report Ever Won’t Mean the Economy Has Healed | N
Recession’s Silver Lining: American Households Are Doing Better Than Expected | N
Struggling Rental Market Could Usher in Next American Housing Crisis | W

US politics I
Trump concedes no coronavirus relief deal before November 3 election | R
Mitch McConnell’s Court Tactics Pay Off in Amy Coney Barrett Confirmation | W
Wisconsin Voting: Democrats Say Hand-Deliver Your Ballot, Don’t Count on USPS | B
Two largest U.S. airline flight attendant unions endorse Biden | R

US politics II
Trump Weighs Executive Order to Show Support for Fracking | W
Judge Bars DOJ From Representing Trump in Defamation Suit | W
New retirement bill has perks for seniors, student loan borrowers | C

Geopolitics & trade
Global Banks in Hong Kong Breathe Easier Over U.S. Sanctions | W
Trump lifts tariffs on Canadian aluminum, warns he may resume them | R

Industries & companies
Communication services: Facebook Warns of Foreign Operators Exaggerating Their Election-Interference Abilities | W
Energy: How the Virus Slowed the Booming Wind Energy Business | N
Pharma: Eli Lilly Earnings, Halted Covid-19 Drug Trial Disappoint Investors | W
Manufacturing: Caterpillar, 3M Flag Falling Sales to Businesses | W
Manufacturing: 3M making more N95 masks than ever as Covid cases rise: CEO Mike Roman | C
Tech: Microsoft’s Earnings Continue to Ride Pandemic-Fueled Demand for Cloud, Videogaming | W

Virus
Covid hospitalizations rising in 36 states as U.S. hits another record for average new cases | C
France Emerges as Covid-19 Epicenter as Cases Surge Across Europe | W
Countries Try Shorter Covid-19 Quarantines in Bid to Boost Compliance | W
Covid in New York: California Added to NY Visitor Quarantine List by Cuomo: | B
Coronavirus vaccine data from Pfizer unlikely to come before U.S. election | C

Corporate finance
AMD Agrees to Buy Rival Chip Maker Xilinx for $35 Billion | W
AMD and Nvidia are using high stock prices to make big acquisitions | C
Dunkin’ Sale Poised to Be Second-Largest Restaurant Deal Ever | B
Visa’s Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department | W
Callaway Golf to Buy Rest of Topgolf Entertainment | W
Inside Ant, the Company Behind the World’s Biggest IPO | W

Technology
SpaceX Starlink service priced at $99 a month, public beta test begins | C

Offbeat
Relocating during COVID? Moving could come with a substantial pay cut | USA
Reddit won’t lower pay for employees who move to cheaper cities | C

Oct 27 (Tuesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stocks Slide on Coronavirus Uptick, Fading Stimulus Hopes | W
Record earnings beat is still not good enough for the market and profit misses are severely punished | C
Oil Drops on Covid-19 Resurgence, Extra Libyan Crude | W
Corporate Defaults Slow, Lifting Debt Market | W

US
1.3 Million American Households Could Owe $7.2 Billion In Unpaid Rent By End Of This Year | FO
Average new U.S. Covid cases hit record; Gottlieb warns of ‘exponential spread’ | C

US politics
Amy Coney Barrett: Senate votes to confirm Supreme Court justice | C
Coronavirus stimulus update: Pelosi slams Trump over virus testing | C
‘It’s about midnight’ for stimulus deal, key GOP senator says | MW
Here are the new income tax brackets for 2021 | C

Japan
Japan’s New Leader Sets Goal of Being Carbon Neutral by 2050 | N

Industries & companies
Financials: JPMorgan Currency Deal Highlights Finance’s Green Shift | W
Industrials: Industrials sector, market sell-off: Market analysts on rebound stocks | C
Media: BuzzFeed Expects to Break Even This Year, Thanks to Heavy Cost Cuts | W
Retail: Holiday shoppers are coming to town with health checklist: survey | R

Virus
Pandemic Fatigue Is Real—And It’s Spreading | W
Coronavirus: WHO says stemming outbreak may require ‘sacrifice for many, many people’ | C
Spain’s weary population may be a test for how many COVID-19 restrictions a population can take, says prominent epidemiologist | MW
Study Shows Covid-19 Antibodies Waning Over Time, Suggesting Immunity Might Wear Off | W

Corporate finance & regulation
Ant Group to Raise More Than $34 Billion in Record IPO | W
Adelson’s Sands Weighs $6 Billion Sale of Las Vegas Casinos | B
Bayer to Buy Gene-Therapy Firm AskBio for Up to $4 Billion | W
Dunkin’ Brands in Talks to Be Acquired by Arby’s Parent | W
EU’s Vestager working on criteria to define market influence | R