Be in the know. 17 key reads for Friday…

  1. PBOC to Step Up Support for Economy, Shifts Focus to Consumption (bloomberg)
  2. BofA’s Hartnett Says Sell Stocks at the Fed’s First Rate Cut (bloomberg)
  3. Automobile sales in the U.S. rebound after crippling cyberattack (marketwatch)
  4. US job growth misses expectations in July; unemployment rate rises to 4.3% (reuters)
  5. The July jobs report is likely to raise concerns that the Fed has waited too long to begin cutting rates. (nytimes)
  6. Nvidia being probed by Justice Department, two separate reports say (marketwatch)
  7. Japanese Stocks Suffer Biggest Fall Since 2020 on Economic Concerns (wsj)
  8. Japanese stocks fell 6 percent as a long-running surge faltered. (nytimes)
  9. Temu’s office besieged by Chinese suppliers protesting refund policy (businessinsider)
  10. “Intel’s second-quarter earnings report on Thursday wasn’t all bad. CEO Pat Gelsinger continued to reiterate that the company’s ambitious plan for “5 nodes in 4 years” to enable its foundry business (for both internal and external customers) to catch up to Taiwan Semiconductor Manufacturing is still on track and executing as planned. Intel has shipped more than 15 million of its first “AI PC” chips, codenamed Meteor Lake, and is confident it will have 40 million units shipped by the end of 2024. That’s a huge milestone and dwarfs what AMD or Qualcomm could hope to do in the same time frame.” (marketwatch)
  11. Cooper Standard Second Quarter Gross Profit Ramps Higher; Further Margin Expansion Expected in Second Half of the Year (cps)
  12. Here’s the dividend-paying stock playbook for Fed rate cuts (marketwatch)
  13. Intel to Cut Jobs and Suspend Dividend in Cost-Saving Push (wsj)
  14. Why the Fed Risks Falling Behind (wsj)
  15. Recession Triggered: Payrolls Miss Huge, Up Just 114K As Soaring Unemployment Rate Activates “Sahm Rule” Recession (zerohedge)
  16. NDRC Reiterates Ministry of Finance Policy Support (chinalaastnight)
  17. GM Chief Financial Officer Paul Jacobson Buys the Stock Dip (barrons)

Be in the know. 30 key reads for Thursday…

  1. Small caps and value stocks dominated in July by the widest margin in decades. Can the ‘great rotation’ continue? (marketwatch)
  2. Katie Ledecky drops major 2028 Olympics hint after 1500-meter freestyle gold (nypost)
  3. Interview: China revs up fiscal policy support to spur economic recovery (cn)
  4. Since 1995, value stocks have always outperformed when they’re this cheap — and by a big margin (marketwatch)
  5. Japanese stocks fall as investors fear effects of stronger yen (ft)
  6. Japan Raises Interest Rates for Second Time Since 2007 (nytimes)
  7. China’s Politburo meeting sends positive vibes to investors after Third Plenum disappoints (scmp)
  8. US Initial Jobless Claims Rise to One-Year High as Hiring Slows (bloomberg)
  9. “This Is Unjust!” Female Boxer Quits Olympic Match, Melts Down In Tears After Biological Male Brutalizes Her In 46 Seconds (zerohedge)
  10. China to improve market access system: top economic planner (cn)
  11. Wall Street says buy stocks that pay dividends with $6 trillion of cash ready to be deployed (businessinsider)
  12. CEOs Are Discussing the Fed on Earnings Calls at a Record Pace (bloomberg)
  13. K. Cuts Rates (barrons)
  14. Intel Wants to Sell More AI Chips. It Reports Earnings Thursday. (barrons)
  15. September Rate Cut Would Thrust Fed Into Brutal Election Campaign (wsj)
  16. Katie Ledecky wins gold in 1500m freestyle with new Olympic record (nbc)
  17. In new CEO, Boeing gets ‘the kind of person who gives a damn’ (ft)
  18. China’s ‘basic self-sufficiency’ in chip-making tools could come this summer, veteran says (scmp)
  19. Macau casino group MGM China reports best-ever June quarter as tourists return, winning odds improve (scmp)
  20. Bears flee China stock markets as regulatory curbs squash short positions to a 4-year low (scmp)
  21. Tech war: China narrows AI gap with US despite chip restrictions (scmp)
  22. Discount shopping giant Temu’s supply chain faces scrutiny as mainland sellers protest (scmp)
  23. Boeing’s new CEO already seems to have given a major indication of where his priorities lie (businessinsider)
  24. S. productivity rebounds sharply in second quarter, which could help a soft landing (marketwatch)
  25. Fed should’ve cut today, says DoubleLine’s Jeffrey Gundlach (cnbc)
  26. France’s ‘shallow’ Olympics pool could be slowing swimmers down (nypost)
  27. What an August election-year rally for stocks could mean for Wall Street’s ‘Great Rotation’ (marketwatch)
  28. XPO Earnings Show U.S. Manufacturing Improved. Shares Rise. (barrons)
  29. Fed Clears Path for September Interest Rate Cut (wsj)
  30. The Haves and Have-Nots at the Center of America’s Inflation Fight (wsj)