Be in the know. 12 key reads for Friday…

  1. S&P 500’s Historic 8.9% Rally Blindsides Skeptics on Wall Street (bloomberg)
  2. Powell Takes the Stage. Will He Talk Rate Cuts? (barrons)
  3. Pfizer’s Weight Loss Drug Won’t Enter a Phase 3 Trial. The Stock Drops. (barrons)
  4. It’s Shopping Season for Cut-Price Closed-End Funds (barrons)
  5. Nelson Peltz Launches Fresh Proxy Fight Against Disney (wsj)
  6. Bill Gross says beaten-down mortgage plays may thrive — and offer huge yields (marketwatch)
  7. Alibaba downgraded by Morgan Stanley, which says PDD is top China e-commerce play (marketwatch)
  8. Chinese Stocks Stage Late Recovery After State Buying Report (bloomberg)
  9. Why It’s So Hard to Copy Charlie Munger’s Secret Sauce (wsj)
  10. The Startling Economics of the World’s Largest Cruise Ship (wsj)
  11. No More Dry Burgers: McDonald’s Overhauls Its Biggest Item (wsj)
  12. Fed Officials Shift Tone But Remain Wary of Markets’ Aggressive Rate Cut Bets (bloomberg)