Be in the know. 22 key reads for Thursday…

  1. Nothing Would Say Forgiveness Like an Ant Group IPO (bloomberg)
  2. First Republic’s Catch-22 (wsj)
  3. Merck Beats Expectations (barrons)
  4. China Recognizes Ukraine’s Right to Exist. National Security Tensions Still Grip the Global Economy. (barrons)
  5. Mastercard Beat Shows Households Are Spending More on Travel. The Stock Rises. (barrons)
  6. An undiscovered universe of stocks is trading at ‘near generational lows,’ asset manager says (marketwatch)
  7. Powell Faces Pushback Inside Fed Over Need to Cool Wage Gains (bloomberg)
  8. Could the Fed pause next week? It’s not out of the question. (marketwatch)
  9. Consumer spending in U.S. rises at 3.7% rate in first quarter (marketwatch)
  10. First-quarter GDP climbs at lackluster 1.1% pace as businesses retrench (marketwatch)
  11. Deposit drops at First Republic and other banks merit a close look for systemic cracks, ex-Fed officials say (marketwatch)
  12. PacWest stock surges 14% as bank says deposits have been building in recent weeks (marketwatch)
  13. Amazon ripped off the Band-Aid. Does that mean big earnings are about to flow? (marketwatch)
  14. Comcast Tops Expectations. (barrons)
  15. Facebook Parent Meta Platforms Sees First Sales Increase in Nearly a Year (wsj)
  16. Republicans Pass Debt-Ceiling Bill Aiming to Spark Talks With Biden (wsj)
  17. First Republic Bank Is a Problem With No Easy Solution (wsj)
  18. Demand for Beer and Handbags Help Temper Recession Fears for Now (bloomberg)
  19. First Republic Stuck in Standoff Between US and Banking Industry (bloomberg)
  20. US debt limit has seen 78 changes since 1960. This time is likely no different, says Bank of America’s wealth management team (businessinsider)
  21. China Life Profit Rises as Industry Recovers After Pandemic (bloomberg)
  22. BYD Crushes The Bug as Hong Kong Internet Names Rebound & Xi Calls Zelensky (chinalastnight)

“Put It Out Of Its Misery” Stock Market (and Sentiment Results)…

Earnings are coming in nicely, but there is an overhang on this market – and until resolved, the market is stuck in the mud.  First Republic (FRC) is now a zombie bank that no one wants to take over because they would need to raise a significant amount of equity capital against the upside down assets/write-downs. Continue reading ““Put It Out Of Its Misery” Stock Market (and Sentiment Results)…”

Be in the know. 18 key reads for Wednesday…

  1. Alphabet first quarter earnings top estimates, announces $70B stock buyback (yahoo)
  2. Billionaire investor Stanley Druckenmiller shorts the dollar after ‘biggest miss of my career’ on Fed rate view and weaponized currency fears (businessinsider)
  3. The Roots of the Options Trading Revolution (barrons)
  4. Brazil inflation hits 30-month low as govt calls for rate cuts (reuters)
  5. Bullish signals are flashing that suggest the stock market is headed for a ‘summer rip’, Bank of America says (businessinsider)
  6. Alibaba Cuts Cloud Prices to Spur Growth Before Possible IPO (bloomberg)
  7. Overseas News & US Dollar Strength Outweigh China’s GDP Recovery (chinalastnight)
  8. Black-Scholes at 50: how a pricing model for options changed finance (ft)
  9. The Party for Consumer Staples Stocks Might Be Ending. Here’s Why. (barrons)
  10. Microsoft Profit, Sales Top Estimates on Strong Cloud Demand (bloomberg)
  11. J&J’s $40 Billion Spinoff Has One Rival. Who Will Rule Consumer Health. (barrons)
  12. Office occupancy climbs to nearly 50% in renewed push for return-to-office initiatives (yahoo)
  13. Boston Properties (BXP) Beats Q1 FFO and Revenue Estimates (yahoo)
  14. Legendary investor Peter Lynch shares the 2 things investors should look for when picking stocks – and one big pitfall to avoid (businessinsider)
  15. China’s Xi Makes First Call to Ukraine’s Zelensky Since Russian Invasion (wsj)
  16. 3M (MMM) Beats on Q1 Earnings, Announces Restructuring Plans (yahoo)
  17. D.A. Approves Drug for Rare Form of A.L.S. (nytimes)
  18. Mortgage demand rebounds, even as interest rates hit the highest level in over a month (CNBC)