July 17 (Wednesday)

YRI
One of the oldest investing theories on Wall Street has yet to confirm this year’s rally is for real (C)
How the Dow could zoom past 31,000 by the end of 2020 (NN)
Daily Markets Overview

Markets
Stocks Fall as Banks Post Mixed Earnings (W)
Is the Federal Reserve on the verge of sparking a stock-market ‘melt-up’? (MW)
A Leveraged Loan Collapses and Reveals Key Risk in Credit Market (B)

Central banks
Powell says ‘uncertainties’ have increased chances of a rate cut (C)
Powell Maintains Fed Pledge to Act to Sustain U.S. Expansion (B)
Powell Says Fed Must Pay Greater Attention to Global Developments (W)
Fed’s Charles Evans says he’d be comfortable with ‘a couple’ rate cuts before the end of the year (C)

US
The US consumer is keeping the economy from tanking and will get another boost from the Fed (C)
U.S. Industrial Production Unchanged in June (W)
Outlook for Second-Quarter Growth Firms (W)

Europe
Bad Loans in Europe Tumble, but They Are Never Fully Gone (W)
Older Employees Breathe New Life Into Europe’s Labor Market (W)
Christine Lagarde Faces a New Challenge in Europe (N)

Geopolitics & trade
Trade war to drag on as Trump says long way to go and China strikes hard-line tone (C)
Trump Says He Could Impose More China Tariffs If He Wants (B)
Trump Targets Google’s China Ties, Citing Thiel (W)
Peter Thiel’s comments about spies in Silicon Valley have some basis in reality, but no evidence (C)
Democrats Prepare House Vote Condemning Trump’s Tweets (W)

Industries & companies
Consumer: Johnson & Johnson Bumps Up Sales Target (W)
FAANGs: Swiss group that’s supposed to oversee privacy for Libra says it hasn’t heard from Facebook at all (C)
FAANGs: Facebook’s Crypto Plan Called ‘Delusional’ as Senate Digs In (B)
FAANGs: Facebook Cryptocurrency Plans Have a Problem: Facebook’s Reputation (N)
FAANGs: Facebook Questioned by Lawmakers on Its Libra Digital Currency (W)
FAANGs: Facebook tells Congress it shouldn’t be broken up because Instagram and WhatsApp have thrived (C)
FAANGs: Searches for ‘Canceling Amazon Prime’ Spike on Prime Day (B)
Financials: Biggest Banks Feel Fed Pain as Lower Rates Start to Hit Revenue (B)
Financials: Big banks signal Fed rate cuts may not be so great for them (C)
Financials: Consumer Lending Drives Bank Profits as Trading Slumps (W)
Media: Disneyland has been empty of late and the new ‘Star Wars’ attraction appears to be a factor (MW)

Offbeat
Don’t Scoff at Influencers. They’re Taking Over the World.