Be in the know. 22 key reads for Wednesday…

  1. Alibaba’s Hong Kong primary listing can be magnet for China’s 210 million investors (scmp)
  2. Softer US Inflation, Retail Data Offer Fed Some Leeway (bloomberg)
  3. China Considers Government Buying of Unsold Homes to Save Property Market (bloomberg)
  4. Alibaba, Tencent beat forecasts with strong results, a harbinger of China’s improving corporate earnings as economic growth takes root (scmp)
  5. Fiscal Bazooka: China Considers Buying Millions Of Homes To Save Property Market (zerohedge)
  6. JPMorgan’s Jamie Dimon Calls For ‘Full Engagement’ With China (bloomberg)
  7. Google’s I/O Event Kicks Off With Promise of More AI (barrons)
  8. The Super Rich Are Eating Out, but Families Aren’t. Restaurants Are Starving. (marketwatch)
  9. Is it worth it to own Treasurys right now? These 5 charts might hold the answer. (marketwatch)
  10. Amazon Gets New Cloud-Computing Boss as AI Battle Shakes Up Its Top Profit Engine (wsj)
  11. He Quit Wall Street to Coach Ivy League Tennis—and Built a Columbia Powerhouse (wsj)
  12. How China Rose to Lead the World in Cars and Solar Panels (nytimes)
  13. Why Is Car Insurance So Expensive? (nytimes)
  14. Cramer: Ford and GM are winners after Biden raises tariffs on Chinese imports (cnbc)
  15. The S&P 500 just flashed a bullish signal that suggests the stock market will hit record highs this summer (businessinsider)
  16. AI Is Electrifying These Power Producers’ Shares (wsj)
  17. NYCB’s loan sale to JPM praised as ‘important first step’ in turnaround (marketwatch)
  18. Traders Ramp Up Bets in Options Market on Large ECB Rate Cuts (bloomberg)
  19. PBOC Rolls Over Policy Loan With Growth, Currency on Mind (bloomberg)
  20. Dollar hits one-month low against euro before US data, falls vs yen (streetinsider)
  21. OpenAI co-founder and chief scientist Ilya Sutskever departs (ft)
  22. Brazilian government ousts Petrobras chief after dispute over dividends (ft)

Be in the know. 16 key reads for Tuesday…

  1. China’s Alibaba beats quarterly revenue estimates (up 7% yoy),  profit drops primarily due to valuation changes from equity investments (reuters)
  2. Alibaba sees most profitable year since 2021 amid a refocus on e-commerce, AI businesses and rising competition at home (scmp)
  3. Alibaba sees AI traction.  “During the quarter, our core public cloud offerings, which include products such as elastic compute, database and AI products, recorded double-digit year-over-year growth in revenue,” Alibaba said.  Alibaba’s board of directors has approved a dividend consisting of two parts. This includes an annual cash dividend of $1.00 per ADS and a “one-time extraordinary cash dividend” of 66 cents per ADS. (marketwatch)
  4. BofA Strategist Hartnett Warns Stock Rally Is Exposed to Stagflation Risk (bloomberg)
  5. BofA’s Moynihan Talks US Economy, Lending and M&A (bloomberg)
  6. BABA-SW (09988.HK) Expects to Finish Conversion to Dual Primary Listing in HK by End-Aug 2024 (aastocks)
  7. Alphabet to spotlight AI innovations at developer conference (reuters)
  8. The Fed Depends on Data but Numbers Are Getting Shakier. That’s a Problem. (barrons)
  9. Berkshire Hathaway’s Mystery Stock Purchase Could Be Revealed on Wednesday (barrons)
  10. Wholesale inflation surges again, PPI shows. Takeaway: Inflation remains sticky. (marketwatch)
  11. Money managers are more bullish than at any point since November 2021, survey shows (marketwatch)
  12. Temu Cools on the U.S. After Shelling Out Billions (wsj)
  13. What’s on TV? For Many Americans, It’s Now YouTube (wsj)
  14. Investors Crowd Into Soft-Landing Trade Ahead of Crucial Inflation Data (wsj)
  15. The UK Is No Longer the Most Hated Market (bloomberg)
  16. Israel’s Once-Dominant Drugmaker Is Revived by Innovation (wsj)