Be in the know. 36 key reads for Wednesday…

  1. Alibaba Share Repurchase Update as of June 30, 2024 (alibabagroup)
  2. Susquehanna Upgrades PayPal (NASDAQ:PYPL) to “Positive” (marketbeat)
  3. Alibaba Reports $26 Billion In Buybacks Left, Hong Kong Outperforms (chinalastnight)
  4. Alibaba’s Taobao adds 1-hour delivery short cut in race against ByteDance, JD.com (scmp)
  5. Fed’s Goolsbee makes case for rate cut in coming months, citing ‘warning signs’ of a slowdown (marketwatch)
  6. Powell Talks Up Progress, Putting Rate Cuts Back Into View (wsj)
  7. Powell Cites ‘Real Progress’ as Central Bankers Assess Inflation Fight (nytimes)
  8. PayPal upgraded, Crowdstrike downgraded: Wall Street’s top analyst calls (thefly )
  9. Nvidia Stock Is Down Again. Why AI Chip Exports to China Remain a Problem. (barrons)
  10. 12 Stocks to Buy Before the Fed Cuts Rates (barrons)
  11. Constellation Brands Stock Is Rising After Earnings. What We Know. (barrons)
  12. Value Stocks Have Been on the Junk Heap. They’re Due for a Pop. (barrons)
  13. Stock market’s upcoming earnings season may delay ‘overdue’ pullback for S&P 500, says LPL (marketwatch)
  14. China leading generative AI patents race, UN report says (reuters)
  15. The Underground Network Sneaking Nvidia Chips Into China (wsj)
  16. Hedge fund selling of tech stocks has limited potential for crash, JPMorgan says (marketwatch)
  17. ADP says 150,000 private-sector jobs created in June, smallest gain in five months (marketwatch)
  18. ADP Payrolls Disappoint In June – 3rd Straight Monthly Decline In Additions (zerohedge)
  19. Jobless claims — aka layoffs — rise to 238,000 and stay near one-year high (marketwatch)
  20. Initial Jobless Claims Disappoint (Again), Continuing Claims Worst Since Dec 2021 (zerohedge)
  21. Approval of Newest Alzheimer’s Drug Will Accelerate New Era of Treatment (wsj)
  22. Why Beryl Is the Strongest Hurricane to Form This Early (wsj)
  23. The S&P 500’s reliance on a few winning stocks is getting worse (marketwatch)
  24. Biden’s LNG Export Ban Is Blocked (wsj)
  25. Auto Sales Grew Slightly in Second Quarter (nytimes)
  26. Home Affordability in the US Sinks to Lowest Point Since 2007 (bloomberg)
  27. Homebuilders Cut on ‘Sluggish’ Housing Market, Florida Woes (bloomberg)
  28. New York City Apartment Construction Is Grinding to a Halt (bloomberg)
  29. MrBeast has his critics, but creator marketing experts explain why he’ll always come out on top (businessinsider)
  30. Walt Disney numbers raised on ‘Inside Out 2’ strength (streetinsider)
  31. Yen slides to fresh lows, market ‘challenges’ Japan authorities to act (streetinsider)
  32. 2 Stocks Down 74% and 57.5% to Buy Right Now (yahoo)
  33. Amazon’s international unit on track to swing into annual profit (ft)
  34. China kicks off largest AI conference in Shanghai as tech rivalry with the US heats up (scmp)
  35. Alibaba’s online flea market draws moonlighters seeking side income in brutal job market (scmp)
  36. Chinese fintech giant Ant Group spins off database firm OceanBase, giving Alibaba a stake (scmp)