Be in the know. 17 key reads for Friday…

  1. Nvidia CEO Cashes in on Rally With $169 Million Share Sale (bloomberg)
  2. ‘Signs of life’ in China’s markets as reforms boost confidence, forum told (scmp)
  3. China’s PBOC Readies Multibillion-Yuan Pool of Bonds to Sell by Tapping Major Banks (bloomberg)
  4. Elon Musk predicts Bill Gates will be ‘obliterated’ for shorting Tesla stock (nypost)
  5. These Are the 19 Best Restaurants in Dubai Right Now, Says Michelin (bloomberg)
  6. GDP malaise? Why U.S. second-quarter growth will be weak again. (marketwatch)
  7. A financial markets ‘mystery’: The Japanese yen’s slide is upending a once-reliable relationship (marketwatch)
  8. Airline Stock Relief as July Fourth Weekend Set to Break Travel Records (barrons)
  9. Travel Is the American Way—Even When It’s Pricey (barrons)
  10. Tony Blair’s Party Is on the Cusp of a Huge Election Win. What it Means for Markets. (barrons)
  11. These Are the Best U.S. National Parks—and They’re Not Even That Crowded (wsj)
  12. Aston Martin, in Celebration of Its 110th Birthday, Leans into Its Past for Its New $2 Million Valour (barrons)
  13. Nvidia to make $12bn from AI chips in China this year despite US controls (ft)
  14. China stays committed to opening-up to promote reform, development and innovation (cn)
  15. The unemployment rate unexpectedly climbed to 4.1%, tied for the highest level since October 2021 and providing a conflicting sign for Federal Reserve officials weighing their next move on monetary policy. The forecast had been for the jobless rate to hold steady at 4%. (cnbc)
  16. Treasury Yields Sink as Jobs Bolster Fed-Cut Bets: Markets Wrap (bloomberg)
  17. Goldman Sachs upgrades UK growth forecast after huge Labour election win (cnbc)

Be in the know. 5 key reads for Independence Day…

  1. Fed Minutes Show Officials Still On Fence With Rates (barrons)
  2. Cathie Wood Growth Plays Stumble Against Value (barrons)
  3. Wall Street’s most bearish strategist is leaving JPMorgan. Here’s a look at his market calls. (marketwatch)
  4. Jobless Claims Rise More Than Expected. It’s Another Sign of a Cooling Labor Market. (barrons)
  5. Ford’s Electrified Vehicle Sales Stay Hot. The Stock Is Warming Up. (barrons)

“Cash Flow is the Name of the Game” Stock Market…

Rotation

I had the pleasure to join David Lin on “The David Lin Report” this week.  Our view is that conditions are similar to Oct 2023 where laggards abruptly flipped from non-stop pain to gaining massively in the following few months. I go into detail with David as to why we have this outlook and what are the explicit catalysts for a similar abrupt turnaround.  You can watch it here: Continue reading ““Cash Flow is the Name of the Game” Stock Market…”

Be in the know. 36 key reads for Wednesday…

  1. Alibaba Share Repurchase Update as of June 30, 2024 (alibabagroup)
  2. Susquehanna Upgrades PayPal (NASDAQ:PYPL) to “Positive” (marketbeat)
  3. Alibaba Reports $26 Billion In Buybacks Left, Hong Kong Outperforms (chinalastnight)
  4. Alibaba’s Taobao adds 1-hour delivery short cut in race against ByteDance, JD.com (scmp)
  5. Fed’s Goolsbee makes case for rate cut in coming months, citing ‘warning signs’ of a slowdown (marketwatch)
  6. Powell Talks Up Progress, Putting Rate Cuts Back Into View (wsj)
  7. Powell Cites ‘Real Progress’ as Central Bankers Assess Inflation Fight (nytimes)
  8. PayPal upgraded, Crowdstrike downgraded: Wall Street’s top analyst calls (thefly )
  9. Nvidia Stock Is Down Again. Why AI Chip Exports to China Remain a Problem. (barrons)
  10. 12 Stocks to Buy Before the Fed Cuts Rates (barrons)
  11. Constellation Brands Stock Is Rising After Earnings. What We Know. (barrons)
  12. Value Stocks Have Been on the Junk Heap. They’re Due for a Pop. (barrons)
  13. Stock market’s upcoming earnings season may delay ‘overdue’ pullback for S&P 500, says LPL (marketwatch)
  14. China leading generative AI patents race, UN report says (reuters)
  15. The Underground Network Sneaking Nvidia Chips Into China (wsj)
  16. Hedge fund selling of tech stocks has limited potential for crash, JPMorgan says (marketwatch)
  17. ADP says 150,000 private-sector jobs created in June, smallest gain in five months (marketwatch)
  18. ADP Payrolls Disappoint In June – 3rd Straight Monthly Decline In Additions (zerohedge)
  19. Jobless claims — aka layoffs — rise to 238,000 and stay near one-year high (marketwatch)
  20. Initial Jobless Claims Disappoint (Again), Continuing Claims Worst Since Dec 2021 (zerohedge)
  21. Approval of Newest Alzheimer’s Drug Will Accelerate New Era of Treatment (wsj)
  22. Why Beryl Is the Strongest Hurricane to Form This Early (wsj)
  23. The S&P 500’s reliance on a few winning stocks is getting worse (marketwatch)
  24. Biden’s LNG Export Ban Is Blocked (wsj)
  25. Auto Sales Grew Slightly in Second Quarter (nytimes)
  26. Home Affordability in the US Sinks to Lowest Point Since 2007 (bloomberg)
  27. Homebuilders Cut on ‘Sluggish’ Housing Market, Florida Woes (bloomberg)
  28. New York City Apartment Construction Is Grinding to a Halt (bloomberg)
  29. MrBeast has his critics, but creator marketing experts explain why he’ll always come out on top (businessinsider)
  30. Walt Disney numbers raised on ‘Inside Out 2’ strength (streetinsider)
  31. Yen slides to fresh lows, market ‘challenges’ Japan authorities to act (streetinsider)
  32. 2 Stocks Down 74% and 57.5% to Buy Right Now (yahoo)
  33. Amazon’s international unit on track to swing into annual profit (ft)
  34. China kicks off largest AI conference in Shanghai as tech rivalry with the US heats up (scmp)
  35. Alibaba’s online flea market draws moonlighters seeking side income in brutal job market (scmp)
  36. Chinese fintech giant Ant Group spins off database firm OceanBase, giving Alibaba a stake (scmp)

Be in the know. 15 key reads for Tuesday…

  1. Chicago Fed’s Goolsbee on Interest Rates, Inflation, Unemployment (bloomberg)
  2. 1 Incredible Growth Stock Down 81% You’ll Regret Not Buying on the Dip (fool)
  3. Euro zone inflation eases to 2.5% as core print misses estimate (cnbc)
  4. 5 Cheap Stocks Buying Back Shares at Reasonable Prices (barrons)
  5. Advice from a ‘nervous and jumpy’ Wall Street bull as second half gets under way (marketwatch)
  6. Fed’s Powell Takes the Stage With Other Global Bank Chiefs (barrons)
  7. Tech Industry Wants to Lock Up Nuclear Power for AI (wsj)
  8. A Real-Estate Fund Industry Is Bleeding Billions After Starwood Capped Withdrawals (wsj)
  9. Gavin Newsom Hailed Within China After Biden’s Debate Troubles (bloomberg)
  10. Manhattan is now a ‘buyer’s market’ as real estate prices fall and inventory rises (cnbc)
  11. How Brad Jacobs Will Invest $4.5 Billion to Reshape Building Supplies (bloomberg)
  12. Six Flags merges with Cedar Fair to become largest amusement park operator in North America (FoxBusiness)
  13. Goldman: Hedge funds sold global equities at the fastest pace in two years in June (streetinsider)
  14. Amazon’s international unit on track to swing into annual profit (ft)
  15. China’s central bank announces treasury bond borrowing to stabilize market yields (cn)