Be in the know. 20 key reads for Wednesday…

  1. Alibaba CEO reassures employees amid economic and regulatory challenges. Beijing is looking to give internet platforms a bigger role to help the economy (scmp)
  2. Stock selloff ‘overdone,’ Fed at ‘peak hawkishness,’ JPM analyst says (nypost)
  3. Cancer Drug Developers Trade Below Liquid Assets With No Respite In Sight (bloomberg)
  4. S. annual inflation rate slows to 8.3%, CPI shows, after hitting 40-year high (marketwatch)
  5. GlobalFoundries Crushes Earnings Target On Better-Than-Expected Sales (investors)
  6. Rackspace Is for Sale. Again. (barrons)
  7. Bitcoin Prices Fall. Cryptos Pressured as Stablecoin Terra’s Meltdown Intensifies. (barrons)
  8. Red-Hot Inflation Is Cooling Off. Here Are 3 Signs. (barrons)
  9. E-Commerce Sales Slowed Sharply in April (barrons)
  10. Disney Earnings Are Coming. Wall Street Is Expecting Bad News. (barrons)
  11. Wynn Resorts Narrows Losses (barrons)
  12. Bill Ackman, Peter Thiel back investment firm taking on ‘woke’ capitalism (nypost)
  13. Netflix may introduce ads before end of the year: report (nypost)
  14. Xi Jinping Scrambles as China’s Economy Stumbles (wsj)
  15. Elon Musk talks to the FT about Twitter, Tesla and Trump (ft)
  16. Mainland Investors Buy Tencent and Meituan on Weakness (chinalastnight)
  17. China’s securities regulator pledges action to shore up region’s worst-performing stock market, says rout is an ‘overreaction’ (scmp)
  18. The Energy Report 05/11/2022 (Phil Flynn)
  19. Jim Cramer says the market is signaling to pick up beaten-down, profitable tech names (cnbc)
  20. The market won’t like it initially, but it came into the print very weak and we may see some buyers step in over the next 48 hours (bloomberg)