Be in the know. 25 key reads for Wednesday…

  1. How Car Sales Could Keep the Economy Humming. Retail spending is still growing and could soon get a boost for car sales (wsj)
  2. Thinking of Buying Vornado Realty?; Here Are The Properties And Tenants You’d Be Adding To Your Portfolio (businessinsider)
  3. Tencent posts 11 per cent rise in first-quarter revenue (scmp)
  4. Tencent’s Sales Grow Most in Over a Year After China Reopens (bloomberg)
  5. Tencent’s revenues accelerate as China emerges from Covid lockdowns (ft)
  6. Tencent Is Worth More Than a Utility, Fidelity Fund Manager Says (yahoo)
  7. JD Stock Earnings: JD.com Beats EPS, Revenue Estimates (yahoo)
  8. China’s Baidu beats earnings estimates as chatbot awaits government approval (cnbc)
  9. Baidu Beats, Retail Sales Up +18% Year-over-Year (chinalastnight)
  10. Tencent Music Profits Leap as Streaming Subscriptions Climb (variety)
  11. Why Two Activist Hedge Funds Took a Stake in Google-Parent Alphabet (barrons)
  12. Baidu’s new AI-powered smartphone helps kids study with interactive ‘tutor’ (scmp)
  13. “It could happen when economic data improves or for whatever reason the market breaks the upside of the range and triggers the fear-of-missing-out buying alongside another round of bullish chorus,” he said. “Many investors are sitting on the sideline and positions are light overall in Chinese stocks now.” (scmp)
  14. People are paying less than suggested price for new cars (foxbusiness)
  15. Biden to cut short overseas trip as US debt ceiling talks inch forward (ft)
  16. This Is What Hedge Funds Bought And Sold In Q1: 13F Summary (zerohedge)
  17. JPMorgan Asset Says Markets Are Right to Bet on US Rate Cuts (bloomberg)
  18. Western Alliance Deposit Growth Powers Regional Bank Rally (bloomberg)
  19. Here’s How Much Wealth You Need to Join the Richest 1% Globally (bloomberg)
  20. Elon Musk talks Tesla, Twitter, and why he tweets freely — even if it costs him money (cnbc)
  21. Kraft Heinz unveils customizable sauce dispenser with more than 200 condiment combos for restaurants (cnbc)
  22. ‘Too much latency’: Elon Musk slams the Fed for reacting too slowly to economic challenges (businessinsider)
  23. Shoppers Boosted Retail Sales in April, Reversing Two Months of Declines (wsj)
  24. Venture-Fund Returns Show Worst Slump in More Than a Decade (wsj)
  25. What Everyone—Except the U.S.—Has Learned About Immigration (wsj)