Dr. Ed's Blog

Sep 21 (Monday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Investors could be overplaying the election as a lasting driver of the stock market, history shows | C
Seeking Stock-Market Bargains? Try Europe and Japan | BR
How to Think Long Term With Near-Zero Interest Rates | W

Central banks
Off target – The ECB’s lack of credibility could hamstring Europe’s recovery | E
Federal Reserve: Jerome Powell Road Map for Future Rates in U.S., Analysis | B
Fed’s Kashkari Says New Forward Guidance Could Have Been Stronger | W

Global
The 90% economy, revisited – Is the world economy recovering? | E

US
CEOs Start to Place Big Bets as Pandemic Grinds On | W
The Almighty Consumer Will Stumble in the Coming Year, Says Liz Ann Sonders | BR
Coronavirus: Recession ends for rich, crisis persists for others | C
Is America’s Favorite Retirement Plan Broken? | W

US politics
Trump to pick nominee to fill Ginsburg Supreme Court seat this week and the candidate will be a woman | C
If U.S. election winds up in Supreme Court, Ginsburg’s death will loom large | R
Supreme Court Seat Gives Democrats and GOP a Way to Energize Supporters | W
Biden to weigh in on fight over Trump’s next Supreme Court nomination | R

China
In China, Paying With Your Face Is Hard Sell | W

Europe
EU seeks new powers to penalize tech giants: report | C

Geopolitics & trade
China-U.S. News: What Companies Are on Unreliable Entity List From Beijing? | B
Trump agrees to deal in which TikTok will partner with Oracle and Walmart | C
ByteDance says not aware of $5 billion education fund in TikTok deal | C
Corporate contortions – Will TikTok survive? | E
WeChat: Donald Trump’s Prohibition in U.S. Put on Hold by Judge Before Ban | B

Industries & companies
Autos: Electric cars – Who will rule the Teslaverse? | E
Energy: The new energy order – Is it the end of the oil age? | E
Energy: A less oily BP – How BP’s newish boss sees the future of fossil fuels | E
Energy: Oracle’s Trump card – Who are the TikTok saga’s biggest winners? | E
Retail: Why Albertsons Is a Buy: More Meals at Home and the Stock Is Cheap | BR
Tech: Short circuit – Can Nikola become the next Tesla? | E

Corporate finance
Nvidia’s Deal for Arm Holdings Is Risky and Very Smart | BR
Integrating circuits – How Nvidia’s purchase of Arm could open new markets | E
European Banks Consider Mergers for Survival | W
Chime is now worth $14.5 billion, surging past Robinhood as the most valuable U.S. consumer fintech | C
Steam engine in the cloud – How Snowflake raised $3bn in a record software IPO | E

Technology
Covid Is Making Cash History. How to Profit From the Digital-Payment Future. | BR

Offbeat
Citadel Securities, Quantlab Loom Over Trial Probing Whether Human Traders Tricked Machines | W
Companies’ New Back-to-Work Dilemma: Who Comes First? | W

Sep 19 (Saturday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stocks Finish Week Lower as S&P 500 Dragged Down by Tech Shares | W
The Fund-Flows Indicator Is Behaving Strangely | Morningstar
Platinum, Palladium Prices Diverge as Car Makers See Uneven Recovery | W
Corporate debt frenzy rolls on as worries loom over markets | R

Central banks
Fed’s new framework met with a confused shrug by the public: survey | R
Fed’s Bullard says ‘biggest growth quarter of all time’ will lift inflation | C
Fed’s Kashkari says warnings of runaway inflation are just ‘ghost stories’ | MW
Fed to add pandemic-recession scenarios to next round of big banks’ stress tests | MW
Kashkari Urges Big Investors to Demand Banks Hold More Capital | B
Fed Hires BlackRock to Help Calm Markets. Its ETF Business Wins Big. | W

US
Millions Are House-Rich but Cash-Poor. Wall Street Landlords Are Ready. | W

US politics
Fiscal fizzle saps U.S. economic recovery, a possible boost to Biden | R
Ruth Bader Ginsburg, a Liberal Voice on Supreme Court, Dies at 87 | W

Europe
Europe Is Falling Behind on 5G Rollout, Top Companies Warn | W

Geopolitics & trade
U.S. Bans Chinese Apps TikTok and WeChat, Citing Security Concerns | W
Trump to block downloads of TikTok, WeChat on Sunday | C

Industries & companies
Autos: The Incredible Shrinking GM: Mary Barra Bets That Smaller Is Better | W

Virus
Trump says U.S. will manufacture enough coronavirus vaccine doses for every American by April | C
How to Ship a Vaccine at –80°C, and Other Obstacles in the Covid Fight | N
‘Pandemic fatigue’ leads to resurgence of coronavirus in Europe | C
CDC Reverses Relaxation of Covid-19 Testing Recommendations | W
Lancet Medical Journal Changes Peer-Review Process Amid Flurry of Covid-19 Research | W

Corporate finance
SoftBank Sells Brightstar, Carrying On Its Divestiture Spree | W
Chime is now worth $14.5 billion, surging past Robinhood as the most valuable U.S. consumer fintech | C
Sequoia had a $9 billion week from three IPOs and helped on TikTok | C

Offbeat
Lake Tahoe Booms in Tech’s Work-From-Anywhere Shift | B

Sep 18 (Friday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock market today: Dow closes more than 100 points lower, Apple and Microsoft drag down tech | C
U.S. Stocks Lower as Fed Outlook Rattles Investors | W
Small Tech Stocks Soar as the Future Arrives Early | N
The market isn’t convinced the Federal Reserve can achieve its inflation objective | C

Central banks
Powell Laid the Blueprint for Tech’s Eventual Wreck With QE Punt | B
Federal Reserve weighs bank dividends as it prepares second stress test | R

US
U.S. economic rebound may be a slow train for the unemployed | R
U.S. Unemployment Claims Held Steady at 860,000 Last Week | W
Unable to Pay Rent, Small Businesses Hope for a Deal With Their Landlord | N

US politics
Election 2020: How Trump and Biden Compare on the Key Issues | W

China
Chinese Communist Party Seeks Sway Over Private Business | N

Japan
Japan’s August consumer prices fall at fastest pace in four years | R
Abenomics After Abe by Akira Kawamoto | Project Syndicate

Industries & companies
FAANGs: Amazon was the USPS’ ‘largest customer’ in 2019, internal docs show | C

Geopolitics & trade
Oracle, Walmart Aim for Big Stakes in TikTok | W
TikTok set to IPO globally if Trump approves deal with Oracle, Walmart | C
China, Once Germany’s Partner in Growth, Turns Into a Rival | W

Corporate finance
Unity prices IPO above range at $52, valuing company at $13.7 billion | C
Snowflake’s first-day pop means IPO left $3.8 billion on the table, the most in 12 years | C

Virus I
Covid-19 Vaccine Study Results Could Come Late October, Moderna CEO Says | W
Pfizer vaccine trial bets on early win against coronavirus, documents show | R
Moderna vaccine trial investigator worries about political pressure | C
Hopes for Covid-19 Vaccine Spark Partisan Fight Over Safety, Timing | W

Virus II
Contact Tracing, the West’s Big Hope for Suppressing Covid-19, Is in Disarray | W
Why Did Covid Overwhelm Hospitals? A Yearslong Drive for Efficiency | W
America’s Offices Sit Half-Empty Six Months Into the Covid-19 Pandemic | W
Texas pushes forward with business reopenings as coronavirus cases, hospitalizations slide, Gov. Abbott says | C
Goldman Sends Some Traders Home After Covid-19 Case in Manhattan | B

Sep 17 (Thursday)

YRI
Morning Briefing PDF
Daily Markets

Markets
S&P 500 ends down after late reversal despite Fed’s low-rate stance | R
Some wealthy Americans are already prepping their finances for a Joe Biden presidency — here’s how | MW
Japanese Stocks Will Do Well Under Suga If History Is a Guide | B

Central banks I
Fed decision September 2020: Interest rates unchanged | C
Fed Sets Higher Hurdles for Rate Increase | W
Fed touts economic recovery, vows to keep interest rates low | R
Fed defends ‘pedal to the metal’ policy and is not fearful of asset bubbles ahead | R

Central banks II
Parsing the Fed: How the September Statement Changed from July | W
Powell Says Fed Working on Changes to Main Street Program | B
Fed picks its side in inflation debate and sends market a message — no rate hikes for years | C
Why Is The Fed Trying To Create Inflation? – Steve Forbes

US
Why Unemployment Claims May Be Overcounted by Millions | N
Americans Keep Spending, but Growth of Retail Sales Slows | N
Fading fiscal stimulus restraining U.S. consumer spending | R

US politics
Coronavirus stimulus update: Trump suggests he could back bigger relief bill | C
Coronavirus stimulus: House Republicans try to force PPP small business vote | C
Joe Biden hammers Trump on health care and coronavirus | C

Japan
Yoshihide Suga Becomes Japanese Prime Minister as Abe Era Ends | W

Geopolitics & trade
Oracle Will Review TikTok Source Code to Watch for Chinese Access | W
Trump says ‘not prepared to sign off’ for Oracle-TikTok deal

Industries & companies
Airlines: Airlines, labor unions again push for another $25 billion in coronavirus aid as more than 30,000 job cuts loom | C
FAANGs: iOS 14 Review: Your iPhone Will Look Completely Different Now, if You Want | W
Retail: U.S. Retail Spending Grew at Slower Pace in August | W

Cybersecurity & technology
U.S. Charges Chinese Nationals in Cyberattacks on More Than 100 Companies | W
U.S. charges seven in wide-ranging Chinese hacking effort | R
How coronavirus could usher in a new age of automation | C

Virus
Coronavirus: CDC says U.S. should have enough vaccine to return to ‘regular life’ by third quarter of 2021 | C
Trump says U.S. could start distributing a coronavirus vaccine in October, contradicting CDC’s timeline | C
Trump contradicts CDC director on vaccines: ‘he was confused’ | R
Covid-19 Antibody Drug Shown to Reduce Hospitalizations, Eli Lilly Says | W
CDC is developing new coronavirus testing guidance for screening at schools, businesses | C

Offbeat
Business Shifts From Resistance to Action on Climate | W

Sep 16 (Wednesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock futures flat as investors await Fed meeting | C
Stock market today: S&P 500 and Nasdaq close higher as tech leads broad market gains | C
Why Did Stock Markets Rebound From Covid in Record Time? Here Are Five Reasons | W
Ray Dalio Warns of Threat to Dollar as Reserve Currency | B
Market volatility is set to swell after election, Wells Fargo warns | C

Central banks
The Fed could still move markets Wednesday even with rates on hold for the foreseeable future | C

US
U.S. Industrial Production Points to Slowing Manufacturing Recovery | W
U.S. Incomes Up, Poverty Rate Down in 2019 | W
How Much Richer The Wealthiest Americans Got in the Last Economic Expansion | B

US politics
Pelosi Says House Should Remain in Session Until Coronavirus Stimulus Deal Is Reached | W
White House open to ‘Problem Solvers’ compromise in coronavirus aid fight | R
Chuck Schumer calls for HHS Secretary Alex Azar to resign immediately | C

Virus
Will New York Face a Second Wave of Covid-19? | B
Hospitals Failed to Fully Contain Covid-19 Inside Their Walls | W
The coronavirus has killed at least 121 young people in the U.S., mostly minorities, CDC says | C

Industries & companies
Consumer: Kraft Heinz to Sell Part of Cheese Business for $3.2 Billion | W
FAANGs: Amazon has rapidly expanded its air fleet during the pandemic | C
FAANGs: Apple Watch: Family Settings feature requires no iPhone, a first | C
Financials: Banks lower revenue outlook as pandemic crimps loan demand | R
Financials: Citigroup Gives Wall Street a Sobering Message | W
Fitness: Peloton thinks it can grow to 100 million subscribers. Here’s how | C
Restaurants: Starbucks Sales Recovery Has ‘a Ways to Go’ as Pandemic Quiets Cities | W
Shipping: FedEx Logs Record Revenue on Surge in Packages | W

Corporate finance
Lots of IPOs are hitting the market this week. Invest with caution | C
Snowflake Is Said to Price IPO Above Range at $120 a Share | B
China’s ByteDance to Keep Majority TikTok Stake in Oracle Deal Under U.S. Consideration | W

Sep 15 (Tuesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
U.S. stock futures fall slightly after Monday’s rally | C
Stock Benchmarks Close Higher to Start the Week | W
Stock market’s 7% pullback? Get ready for more, as a 2009-style ‘stair-step’ rally continues, says Wall Street bull | MW
‘Real’ Bond Yields Help Explain Surprising Market Moves | W

Central banks
Why Fed Officials Are Pushing for More Stimulus From Lawmakers | W

US
Paper towel shortage: Why it’s hard to find paper towels again | NN

US politics
Absence of Coronavirus-Aid Deal Prompts Blame Game in Washington | W
States try to plug gaps in Trump’s $300 unemployment benefits program | C
Biden Budget to Result in Highest Spending in Decades, Study Finds | W
Joe Biden’s economy would be too much like Europe’s | MW
Trump and Biden clash over U.S. wildfires as campaign turns to climate change | R

Geopolitics & trade
Japan’s Next Leader to Be Thrust Into Clash Over China | W
Oracle Deal With TikTok to Undergo U.S. National Security Review | W

Industries & companies
Airlines: Delta to Use Frequent-Flier Program to Raise $6.5 Billion | W
Autos: Tesla shares jump more than 12% amid tech rebound, Goldman comments | C
Media: Markets Already Betting on Tokyo Disneyland’s Return to Normal | B

Corporate finance
Verizon to Buy TracFone in Deal Valued at Nearly $7 Billion | W
Klarna now Europe’s biggest fintech unicorn at over $10 billion value | C
Barra: GM conducted ‘appropriate diligence’ on $2 billion Nikola deal | C

Virus
People who tested positive for COVID-19 were twice as likely to have recently eaten at a restaurant: CDC | MW
Covid-19 Test Maker Examines False-Positive Results in Nursing Homes | W

Offbeat
West Coast Fire Map: Where California, Oregon and Washington Have Wildfires | B
Sally intensifies, could wallop U.S. coast with 110-mph winds | R
Home Depot co-founder Arthur Blank on corporate profits, social change | C

Sep 14 (Monday)

YRI
Few Gains Ahead for the S&P 500, but Lots of Drama Beneath the Surface: Strategists I BR
Morning Briefing PDF
Daily Markets

Markets
Is the Stock Market in a Bubble? Yes, Here’s What to Know. | BR
The Wildly Popular Trades Behind the Market’s Swoon and Surge | W
How Retail Investors Are Fueling the Nasdaq’s Wild Ride | BR
Why the Emerging-Markets Rally Looks Shakier for the Rest of the Year | BR
Why Volatile Commodity Prices Could Be Buying Opportunities | BR

Central banks
ECB’s Lagarde shifts burden to governments to aid recovery | R
Japan’s Suga says no limit to bonds government can issue | R

US
U.S. economy is improving, weeks before the election. Will Trump benefit? | R
Inflation Is Popping Up in the Strangest Places | BR
U.S. Cost of Living Is Higher Than Official Inflation Rate Shows | B
More Groceries, Less Gas: The Pandemic Is Shaking Up The Cost Of Living | NPR
At risk of losing their home, health, and internet: 12 million Americans still waiting for unemployment benefits | NBC
PPP: Why third-quarter taxes are confusing small businesses | C

Europe
Italy Seeks Economic Rebirth With EU Coronavirus Recovery Money | W

US politics
Trump and Biden ‘Made in America’ tax plans ignore the real problem | MW
Bloomberg will spend at least $100 million in Florida for Joe Biden | C
The boomers’ last stand – Younger Americans feel their voting weight | E
Shelter in place – Can the Trump administration halt evictions on public-health grounds? | E
Trading Powerhouses Join Exchanges in Fighting N.J. Tax Plan | B

Geopolitics & trade
Down but not out – How has trade survived covid-19? | E

Industries & companies
Aerospace: Former Top Boeing 737 MAX Officials Defend Design Process | W
Airlines: United CEO: Demand unlikely to recover until vaccine widely available | C
Hotels: Marriott built an ‘Airbnb’ before coronavirus crashed travel. Did it help? | C
Fitness: Peloton: How gyms plan to get Americans working out again | C
Media: Disney Wanted to Make a Splash in China With ‘Mulan.’ It Stumbled Instead. | N

Corporate finance
SoftBank Nears $40 Billion Deal to Sell Arm Holdings to Nvidia | W
Embattled SoftBank renews talks on taking the group private, FT reports | R
Gilead Nears Deal to Buy Immunomedics for More Than $20 Billion | W
Badwill hunting – Why are European banks merging? | E

Virus
The Dakotas have highest number of new virus cases in the country | C
Coronavirus: Pfizer vaccine could be given to Americans before end of year, CEO says | C
AstraZeneca coronavirus vaccine clinical trials resume in U.K. after pause over safety concerns | C
Health experts criticize Trump over reports of CDC interference | C
Stop ‘demonizing’ students for Covid-19, say mental health experts | C

West coast fires
Fires in Oregon, California and Washington spread, death toll rises | C
Golden State ablaze – Why is California burning? | E
Climate change: Why heatwaves are more deadly as nights warm faster | C
Climate change is huge risk for the American financial system, a major new bipartisan report says | MW
Air quality apps: PurpleAir, AirNow, IQAir, essential in western U.S. | C

Offbeat
Office politics: The fight over the future of work | E
The future of work – Is the office finished? | E
Goodbye, Open Office. Hello, ‘Dynamic Workplace.’ | W

Sep 12 (Saturday)

YRI
Morning Briefing PDF
Daily Markets
The stock market’s pullback is ‘healthy’ and gives earnings a chance to catch up to prices, Wall Street bull Ed Yardeni says

Markets
Dow ends higher but Wall Street posts second straight weekly drop on tech slide | R
Stock market today: Nasdaq closes lower to end its worst week since March as tech continues to struggle | C
Equity market turmoil seen unlikely to provoke rapid Fed response | R
This 1 big change in the market means higher stock prices are likely over the next few weeks | MW
NYSE Signals It Will Exit New Jersey if State Taxes Stock Trades | W
Lumber Poised to Fall With Autumn’s Approach | W

Global
Global Economic Recovery Shows Signs of Slowing | W

US
Used cars drive U.S. consumer prices higher; inflation pressures firming | R
Drop in College Tuition Is Helping Hold Down U.S. Inflation | B
U.S. budget deficit tops $3 trillion with one month left in fiscal 2020 | R

US politics
U.S. economy is improving, weeks before the election. Will Trump benefit? | R
Trump can beat Biden, analyst says — watch for ‘a big Q3 GDP figure,’ a strong first debate | MW

Geopolitics & trade
China would rather see TikTok U.S. close than a forced sale | C

Industries & companies
FAANGs: Apple App Store new rules will affect Google Stadia, Microsoft xCloud | C
Financials: JPMorgan creates new team to trade shares of pre-IPO giants including SpaceX, Robinhood and Airbnb | C
Media: ‘Wonder Woman 1984’ Delayed as Pandemic Slows U.S. Theater Reopenings | W
Media: Coronavirus: Movie theaters rushed to reopen, blockbusters were pushed | C
Retail: Many Retailers Are Closing. That’s Good for Macy’s and Other Survivors. | BR
Tech: Big Tech is turning on one another amid antitrust probes and litigation | MW
Tech: Microsoft Azure versus Amazon AWS in connecting satellites to cloud | C
Tech: Nikola shares plunge more than 14% amid dispute over short-seller allegations | C

Virus
U.S. coronavirus data is ‘disturbing,’ Dr. Fauci says in disputing Trump | C
China Injects Hundreds of Thousands With Experimental Covid-19 Vaccines | W
South Korea’s Coronavirus Lesson: School’s Out for a While | W
In Worst-Hit Covid State, New York’s Cuomo Called All the Shots | W
Kids caught coronavirus at child care, infected family, CDC report says | C

Offbeat
California Governor Says ‘This Is a Damn Climate Emergency’ | B
Ten percent of Oregon told to evacuate as U.S. West wildfires kill 24 | R
Wildfires Live Updates: Dozens Reported Missing in Oregon | N
California’s Air Quality Is Poor. Here’s How to Protect Yourself. | N

Sep 11 (Friday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Stock futures rise slightly following Thursday’s wild ride | C
Stock market today: Dow closes 400 points lower as tech sell-off resumes | C
U.S. Stocks Close Lower After Erasing Early Gains | W
What’s happening now with M&A is going to make today’s stock investors wish they’d sold sooner | MW
Jim Cramer: Cash is king as markets face a rough month | C

Central banks
Fed’s new policy shift to have no major impact, say economists: Reuters poll | R

US politics
U.S. Senate defeat of ‘skinny’ coronavirus aid bill puts it on ‘dead-end street’ | R
What We Learned From Woodward’s New Trump Book | W
Trump says everyone knew the coronavirus was airborne in February: It’s ‘no big thing’ | C
2020 election news: Voters see Trump, Biden as mentally unfit to be president | C

Geopolitics & trade
Russian Hackers Have Targeted 200 Groups Tied to U.S. Election, Microsoft Says | W
Huawei to Launch Smartphones Without Google Android | W

Industries & companies
Financials: Citigroup’s Jane Fraser to Succeed Michael Corbat as CEO | W
Financials: JPMorgan Top Brass Tell Trading-Floor Staff to Come Back to the Office | W
Fitness: Peloton Posts First-Ever Profit as Pandemic Speeds Sales | W
Retail: RH CEO expects elevated demand for home decor to carry through 2021 | C
Retail: LVMH Says Tiffany’s Handling of Pandemic Invalidates Merger | W
Tech: Oracle Results Bolstered by Cloud-Computing Growth | W
Tech: Exclusive: Microsoft believes Russians that hacked Clinton targeted Biden campaign firm – sources | R

Corporate finance
Century 21 Files for Bankruptcy, to Close All 13 Stores | W

Virus
Several Covid-19 Vaccines Could Join Winner’s Circle | W
To Keep Schools Open as Covid Surges, Europe Isolates Infected Students | W

Sep 10 (Thursday)

YRI
Morning Briefing PDF
Daily Markets

Markets
Wall Street ends higher on tech rally to snap three-day skid | R
Investors are buying the dip for now, but the market rout is likely not over | C
Asian markets seen firmer after Wall Street turns positive | R
Beaten-down U.S. dollar regains mojo in equities tech wreck — here’s what it will take to sustain the bounce | MW

Central banks
ECB to take aim at strong euro with hints of more stimulus | R
Federal Reserve Nominee Judy Shelton: A Defense | NR

US
U.S. Job Openings Leveled Off Late in the Summer | W

US politics
Biden Pushes Higher Taxes on U.S. Companies’ Foreign Profits in Pitch to Midwest Voters | W
Covid-19: Trump downplayed coronavirus danger, Bob Woodward book reveals | C
‘A disgrace’: Biden rips Trump for saying he downplayed coronavirus | C

Geopolitics & trade
TikTok, U.S. Discuss Ways to Avoid Sale | W
U.S. House Speaker warns Britain that breaking Brexit treaty could imperil trade pact | R

Industries & companies
Airlines: United Airlines, pilots deal would distribute flying to avoid furloughs | R
Autos: Tesla jumps nearly 11%, rebounding from worst day on record | C
FAANGs: Facebook struggles with speech rules ahead of 2020 elections | C
FAANGs: Amazon is on a hiring spree amid widespread coronavirus layoffs and record unemployment | C
Railroads: Kansas City Southern Rejects $20 Billion Takeover Offer From Investor Group | W

Virus
Covid-19 Cases, Death Rates Are Declining Six Months Into Pandemic | W
Why an approved coronavirus vaccine may not end the pandemic quickly | MW
Pay People to Get Vaccinated | N
Sailors Trapped by Covid-19 Fight Exhaustion and Despair | N

Corporate finance
Tiffany’s $16 Billion Sale to LVMH Falls Apart in Face of Pandemic, Tariffs | N
Palantir valued at about $10.5 billion ahead of direct listing | C
Simon, Brookfield to save JC Penney from bankruptcy, keep 650 shops | C
Grail, which counts Jeff Bezos among investors, files for IPO | C

Technology
Smartphones Transformed Everything. Now, There’s More Disruption to Come. | W

Offbeat
Climate Change: World’s Global Warming Fight | B