February 19 (Wednesday)

Stocks
U.S. Stocks Fall After Apple’s Sales Warning W
China Plays Are Left Behind as U.S. Stocks Charge to New Highs W
Nasdaq rises, heads for record close as Apple shares cut losses C

Currencies & Credit
Euro Extends Decline on Weak German Data W
Risk Premiums on Asia Dollar Bonds Keep Dropping Despite Virus B

Central banks
Fed Doesn’t Want Another Repo Crisis, But Treasury Isn’t Helping B

US
Outside of the big 5 tech companies, earnings growth is zero C

China
Coronavirus Exposes Businesses’ Dependency on China W
China Turns to Apps to Control Movements During Outbreak W
Amid Coronavirus, the World Closes Its Doors to China: ‘I Feel So Isolated’ W

US politics
Post-Impeachment Senate Landscape Takes Shape W
Presidential hopeful Bloomberg proposes new taxes, protections to rein in Wall Street R
Bloomberg Qualifies for Nevada Debate W
Thousands of Oracle employees protest Larry Ellison’s Trump campaign fundraiser C
Trump adviser Roger Stone loses bid to delay sentencing hearing R

Geopolitics & trade
U.S. Weighs New Move to Limit China’s Access to Chip Technology W
Trump Says He Supports Selling U.S. Jet Engines to China W
The Real Chinese Trade Spat Is About Engines, Not Soybeans W

Industries & companies
Autos: High Car Prices Are Locking Out Younger Shoppers W
FAANG: Apple Drops After Warning But Analysts See Short-Term Hit B
Financials: HSBC Plans to Cut 35,000 Jobs, $100 Billion of Assets W
Retail: Walmart Posts Mixed Holiday Sales W
Retail: Bed Bath & Beyond Boss Tries to Declutter Its Stores W
Retail: Macy’s Cut to Junk by S&P Over Doubts That Turnaround Will Work B
Utilities: PG&E Reports $3.6 Billion Quarterly Loss as Wildfire Costs Mount W

Corporate finance
A huge driver of stock prices [stock buybacks] got off to its worst start in 7 years, but that could change C
Dell Nears Deal to Sell RSA Security Business to Private-Equity Firm STG W
Franklin Resources to Buy Legg Mason for $4.5 Billion W
Italy’s Intesa Bids for Rival, Paving Way for Rare European Banking Deal W
Food-Delivery Firms Put Mergers, IPOs on the Menu W

Virus
China sees fall in coronavirus deaths, WHO urges caution R
Coronavirus live updates: Sanofi working on vaccine with US health agency, Jaguar faces parts shortage C
Gilead’s Coronavirus Drug Trial Slowed by Lack of Eligible Recruits W
Japan targets HIV drug trials on coronavirus R
If Apple is hurting due to the coronavirus, its suppliers and rivals likely are too R

Offbeat
Trump grants clemency to ex-Gov. Rod Blagojevich, Bernard Kerik and Eddie DeBartolo Jr. C

YRI Express
Morning Briefing PDF I Audio Excerpts
Daily Markets Overview