Be in the know. 10 key reads for Friday…

  1. Intel Stock Rises After Chip Maker Beats Earnings. CFO Sees ‘Green Shoots’ in China (barrons)
  2. Intel tops Wall Street estimates, CEO says data-center business is improving (marketwatch)
  3. Amazon’s Cloud Outlook Panicked Investors. Don’t Overreact, Analysts Say. (barrons)
  4. Fed’s Favored Inflation Metric Remains Stubbornly High (barrons)
  5. Inflation barely rises, PCE shows, but ‘core’ rate still ‘sticky’ (marketwatch)
  6. First Republic Bank Faces a Critical Weekend. What to Expect. (barrons)
  7. GDP Report Shows Economic Growth Slowed in First Quarter (wsj)
  8. Russian Pranksters Dupe Fed Chair Jerome Powell Into Recorded Call (wsj)
  9. S. officials lead urgent rescue talks for First Republic (reuters)
  10. Big Tech earnings resilient as sector gears up for AI boom (ft)

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)…”