Be in the know. 15 key reads for Thursday…

  1. U.S. New-Vehicle Sales Rise an Estimated 13% in First Half of the Year (wsj)
  2. Beijing Needs A Spending Binge To Bring Back Growth (zerohedge)
  3. Janet Yellen arrives in Beijing on mission to find common ground for U.S. and China (cnbc)
  4. Billionaire Mike Ashley Adds £150 Million to London Property Bet (bloomberg)
  5. Billionaire Mike Ashley Is Still Toying With Britain’s Retail Sector (bloomberg)
  6. Big Tech Is Running Out of Steam. These 3 AI Stocks Still Have More in the Tank. (barrons)
  7. 6 Small Bank Stocks With Big Upsides (barrons)
  8. Taiwan’s Impossible Choice: Be Ukraine or Hong Kong (wsj)
  9. U.S. private sector added 497,000 jobs in June, ADP says, in biggest increase since July 2022 (marketwatch)
  10. Some Fed Officials Supported Raising Rates in June (wsj)
  11. More Manhattan Homebuyers Paying Cash in Sign of Luxury Strength (bloomberg)
  12. Tom Cruise, Barbie Are Hollywood’s Last Hope for Summer Success (bloomberg)
  13. What It Really Takes to Convert an Office Building to Apartments (bloomberg)
  14. 30% of Americans say ‘tipping culture is out of control’ — even some businesses agree (cnbc)
  15. Bill Ackman says it’ll be a ‘huge loss’ if JPMorgan boss Jamie Dimon doesn’t run for US president (businessinsider)

Be in the know. 30 key reads for Wednesday…

  1. Auto Sales Defy Gloomy Forecasts. Dealers, car executives cite pent-up demand from years of shortages and high prices (wsj)
  2. China Should Welcome Yellen With Open Arms (bloomberg)
  3. ‘Bad Breadth’ is the latest ridiculous reason naysayers insist stocks are doomed (nypost)
  4. Yellen’s China Visit Aims to Ease Tensions Amid Deep Divisions (nytimes)
  5. China’s PBOC Eyes Stability Amid Recovery Woes (bloomberg)
  6. China’s Xi says countries share responsibility to promote growth, opposes decoupling (cnbc)
  7. Here Are the Tools That China Uses to Manage the Yuan (bloomberg)
  8. Today’s Fed Minutes Should Give Clues on Rate Pause (barrons)
  9. Amazon is the cheapest of the Magnificent Seven stocks by this important measure (marketwatch)
  10. How the Fed and Investors Could All Be Wrong on Rates (wsj)
  11. China Banks Cut Rates for $453 Billion Corporate Dollar Deposits (bloomberg)
  12. “Preference among many tenants for trophy or Class A+ space is driving rents higher in that segment of the market, while tenants are able to dictate terms to a greater extent for commodity Class A and Class B/C space,” according to the Savills report. (marketwatch)
  13. Why the 5 Highest-Yielding Nasdaq Stocks Could Rip Higher With the Red-Hot Summer Rally (247wallst)
  14. US new vehicle sales set to gain in June, S&P Global Mobility says (reuters)
  15. Edmunds: Pent-Up Demand to Prop Up New Car Sales in Q2 (aftermarketnews)
  16. Cox Automotive Forecast: New-Vehicle Sales to Increase More Than 11% Year Over Year Through the First Half of 2023 (cox)
  17. Year-To-Date Auto Forecasts Show Things Are Looking Up. (insideradio)
  18. US wants to limit China’s access to cloud services from Amazon, Microsoft: report (nypost)
  19. China Official Meets With Foreign Drugmakers to Boost Confidence (bloomberg)
  20. Test Driving the $245,000 Aston Martin DB12 in the Hills of Monte Carlo (bloomberg)
  21. Wharton’s Jeremy Siegel says the bull run in stocks can go a lot longer even as the Fed wages ‘war on growth’ (businessinsider)
  22. Here’s why Wall Street’s biggest bull thinks the stock market is headed to record highs this year (businessinsider)
  23. Google searches for inflation have plunged – and that could mean rising prices aren’t a big problem anymore, Nobel economist Paul Krugman says (businessinsider)
  24. China is restricting the export of two little-known metals crucial to the semiconductor industry. It shows Beijing still holds important chips in its tech war with the West. (businessinsider)
  25. China’s chipmaking export curbs ‘just a start’, Beijing adviser warns before Yellen visit (reuters)
  26. Xi warned Putin against nuclear attack in Ukraine (ft)
  27. China gets a new central bank chief as economy struggles for lift-off (ft)
  28. US biotech Moderna strikes deal to develop mRNA drugs in China (ft)
  29. “China’s government bonds have outperformed stocks since 2010,” said Alpine Macro analysts in a report. “As for stocks, they could bounce back after being beaten down badly since 2021. Nevertheless, a sustainable rally in Chinese shares would first require aggressively pro-cyclical fiscal policy and persistent monetary stimulus.” (scmp)
  30. Asking Rent Growth Flat Year-over-year (calculatedriskblog)

Be in the know. 20 key reads for Independence Day!

  1. Wall Street Is Rooting for an M&A Comeback in the 2nd Half (barrons)
  2. Yellen Heads to China to Talk Trade and Technology. These Stocks Could Benefit. (barrons)
  3. Stock-market bulls look for small-caps to shake off bank worries, take 2023 rally baton (marketwatch)
  4. S., China Start Talking Again, With Global Economic Order at Stake (wsj)
  5. Nio, XPeng stocks surge after EV delivery data (marketwatch)
  6. Morgan Wallen and Luke Combs hold top two Hot 100 spots, a first in 42 years for country music (nypost)
  7. Hedge Funds on the Brink of Abandoning Bullish Dollar Bets (bloomberg)
  8. China to Restrict Exports of Metals Critical to Chip Production (bloomberg)
  9. Xi’s Central Bank Shakeup Prioritizes Continuity Over Change (bloomberg)
  10. Shares of Chinese Tesla rival Xpeng rocket 11% as EV deliveries return to growth (cnbc)
  11. China May Have Turned to Another Old Tool to Help Bolster Yuan (bloomberg)
  12. China’s Jobless Youths May Pose Political Risk, Top Adviser Says (bloomberg)
  13. Macau reports June casino revenue up 513.9% (thefly)
  14. 24 ‘strong-buy’ stocks with the highest potential upsides based on consensus price targets from Wall Street’s top-performing analysts, according to a fintech company (businessinsider)
  15. FIS (FIS) rises on report it may sell a majority stake in Worldpay; analyst positive (streetinsider)
  16. Netflix and Disney poised to outperform in Q3 says BofA (streetinsider)
  17. World’s First Fully Electric Flying Car Approved in the US (greekreporter)
  18. The Big Read. How a Swedish start-up reignited the search for an Alzheimer’s drug (ft)
  19. China chipmakers line up $8bn via IPOs in comeback from U.S. curbs (nikkei)
  20. Alibaba, BYD lead Hong Kong stock gains as Yellen heads to Beijing in boost for US-China ties while Xpeng surges (scmp)