Category: What I’m Reading Today

1. BOJ’s policy board becoming more concerned about effects of a weaker yen (marketwatch)
2. China’s imports jump 8.4% in April, exceeding expectations as purchases from the U.S. grow (cnbc)
3. Three overlooked stocks from a Spanish quant: ‘Now is not a time everyone is going to win.’ (marketwatch)
4. UK’s FTSE 100 Outperforms in Europe as BOE Fuels Rate-Cut Bets (bloomberg)
5. The Fed Is in a Holding Pattern. That Could Be Good for Stocks. (barrons)
6. China’s foreign trade up 5.7 pct in first four months (peoplesdaily)
7. China Mulls Dividend Tax Waiver on Hong Kong Stocks Connect (bloomberg)
8. Hong Kong’s New Home Sales Hit Record High of $5.4 Billion (bloomberg)
9. Chinese stocks hit 2024 highs on more property support, positive trade data (streetinsider)
10. Solventum Reports Earnings. There Will Be No Dividend. (barrons)
11. New Hertz CEO Bets $1 Million on the Battered Stock (barrons)
12. Weekly jobless claims jump to 231,000, the highest since August (cnbc)
13. Bruins-Panthers Game 2 ends in violence as David Pastrnak, Matthew Tkachuk fight during huge brawl: ‘Not afraid of him’ (nypost)
14. ‘Seriously Underwater’ Home Mortgages Tick Up Across the US (bloomberg)
15. Disney and Warner to Offer Bundle of Their Streaming Services (wsj)

1. China rally hasn’t been chased by options traders, Bank of America says (marketwatch)
2. Regional Bank Stocks Are Hated Again. It’s Time to Buy. (barrons)
3. Media Mogul Byron Allen: This is just a speed bump for Disney, ‘Bob Iger is the best of the best’ (cnbc)
4. The Fed has to cut because the economy is running out of gas, says Jim Cramer (cnbc)
5. Stock buybacks hit highest level since 2018 (yahoo)
6. Teva Pharmaceutical’s stock climbs as schizophrenia treatment shows promise (marketwatch)
7. Billions in Chips Grants Are Expected to Fuel Industry Growth, Report Finds (nytimes)
8. Celebrities pay this NYC man big bucks to get them reservations at exclusive eateries (foxbusiness)
9. US 30-Year Mortgage Rate Falls for First Time Since March (bloomberg)
10. Intel flags revenue hit as U.S. revokes certain export licenses to Chinese customer (reuters)
11. Ledecky’s 800m gold medal hopes boosted as McIntosh opts out (reuters)
12. Chinese firms’ earnings to rebound amid a pickup in the economy: UBS (scmp)
13. Alibaba seeks growth in Mongolia with marketplace selling Chinese goods (scmp)
14. These are the potential ‘shock’ scenarios around next week’s inflation data, says Goldman Sachs (marketwatch)
15. Sweden becomes second major central bank to cut rates (marketwatch)
16. Bond King Bill Gross to Bond Funds: Drop Dead (barrons)
17. 3 Restaurant Stocks That Are Vying to Be the Next Chipotle (barrons)
18. Rents Set to Be Last Domino to Fall in Global Inflation Battle (bloomberg)

1. Cooper Standard Reports Continuing Year-over-year Margin Improvement in First Quarter 2024, Sees Upside to Full-year Guidance (cooperstandard)
2. China’s Ant Group doubles down on global expansion with cross-border payments offering Alipay+ (cnbc)
3. 10-year Treasury yield heads for fifth day of declines after buyers emerge (marketwatch)
4. Einhorn Says Markets Are ‘Broken.’ Here’s What the Data Shows. (bloomberg)
5. Overseas institutions encouraged to invest in domestic tech companies (peoplesdaily)
6. Chevron CEO says natural gas demand will outpace expectations on data center electricity needs (cnbc)
7. Why Disney Stock Is Down After Earnings Topped Estimates (barrons)
8. The Stock Market Is Recovering. Why It Could Keep Gaining. (barrons)
9. Pfizer Is Adding a Wall Street Analyst to Its C-Suite. What He Thinks the Company Needs to Do. (barrons)
10. American Wagyu Is Drawing in a New Breed of Investors as Demand Grows (barrons)
11. ‘Green Shoots’ Grow Out of Control on Wall Street (wsj)
12. Buy stocks in May because inflation is set to plunge through the rest of 2024, Fundstrat’s Tom Lee says (businessinsider)
13. The streaming future Disney promised is finally here as cable TV decays (cnbc)
14. 3M Cut Its Dividend: It’s Time to Buy the Stock (yahoo)
15. Disney CFO Hugh Johnston on Q2 results, strength of consumer and streaming growth (cnbc)

1. A Rising Yen Is Good for Stocks. Here’s Why. (barrons)
2. China’s stock market has staged a big rebound that’s poised to push on, strategist says (businessinsider)
3. Slower Hiring Boosts Hopes of a Late-Summer Rate Cut (wsj)
4. Full recap of Warren Buffett’s comments at the Berkshire Hathaway annual meeting: ‘I hope I come next year’ (cnbc)
5. Warren Buffett says Berkshire Hathaway is looking at an investment in Canada (cnbc)
6. Former CEO Howard Schultz says Starbucks needs to overhaul its customer experience (marketwatch)
7. Boeing’s Starliner set for historic launch that will take two NASA astronauts into space (marketwatch)
8. ECB rate cut case getting stronger, says chief economist Lane (reuters)
9. Foxconn sees record April sales with 19% jump, offers positive Q2 outlook (scmp)
10. China Stocks’ Rally Can Sustain for a Bit, Goldman Sachs Says (bloomberg)

1. Warren Buffett pays tribute to Charlie Munger on a ‘tough day’ for shareholders (finance.yahoo)
2. AI Engineers Say They’re Burning Out as Bosses Whiplash From One Desperate Idea to Another (futurism)
3. Alibaba Cloud brings AI video generator EMO to Tongyi Qianwen app (technode)
4. Robert Kiyosaki’s Track Record on Predicting Stock Market Crashes (usnews)
5. bruce wayne inspires automobili pininfarina in ‘gotham’ and ‘dark night’ electric hypercars (designboom)
6. You Probably Won’t Ever Play In The NHL, Unless You’re Born In This Weird Strip Of Land (digg)
7. U.S. Dollar Peaking… As Momentum Indicator Reaches Historic High! (kimblecharting)
8. The Most Important Skill of the Future is Being ‘Indistractable’ (nirandfar)
9. The walls of Apple’s garden are tumbling down (theverge)
10. Not too hot, not too cold: a ‘Goldilocks’ jobs report (npr)
11. How the Super Rich Are Developing Their Own Real Estate Markets (bloomberg)
12. 40 Lessons From Michael Dell’s Extraordinary Career (inc)
13. Buffett talks succession plan, pays tribute to Munger at annual meeting (foxbusiness)
14. Bandon Dunes at 25: The groundbreaking Oregon resort keeps getting bigger (and better) (golf)
15. The Ferrari 12Cilindri is the Daytona’s V12 spiritual successor (classicdriver)

1. How Crazy Would It Be If Warren Buffett Bought Boeing? (bloomberg)
2. Treasury yields see biggest weekly drops in months as tepid April jobs report raises rate-cut hopes (marketwatch)
3. Warren Buffett takes the stage at Berkshire Hathaway’s annual meeting: Live updates ()cnbc)
4. What Will Warren Buffett Bet on Next? (nytimes)
5. NYC is having a thrilling steakhouse boom — and these are the three best steaks (nypost)
6. Berkshire Hathaway’s cash pile hits new record as Buffett dumps stocks (ft)
7. Berkshire after Buffett: is Greg Abel up to the top job? (ft)
8. The US could give homeowners a $980 billion stimulus at no additional cost (businessinsider)
9. Why Banks These Days Are So Excited About Being Boring (bloomberg)
10. Intel CEO Pat Gelsinger Picks Up Stock Near 2024 Low (barrons)

image: NYTimes

1. Asian Currencies Set for Best Week in Two Months on Intervention (bloomberg)
2. Carry Trades Wobble as Yen Swings Roil One of Year’s Best Bets (bloomberg)
3. Average hourly earnings growth slipped below 4% (investors)
4. Apple Earnings Were a Relief. What the Street Says. (barrons)
5. Amgen Jumps on Obesity Drug Hope. What’s Next. (barrons)
6. Jobs Growth Slows More Than Expected in April (barrons)
7. XPO Stock Soars on Earnings Beat. The U.S. Freight Market Is Soft, Though. (barrons)
8. Online Marketplaces Like eBay, Etsy Are Counting on AI to Supercharge Shopping (wsj)
9. The Wealthy Are Refusing to Sell Their Luxury Homes (wsj)
10. Americans Went All-In on Self-Storage. That Demand Is Suddenly Cooling. (nytimes)
11. Yen Rally Takes Pressure Off Japan to Prop Up Battered Currency (bloomberg)
12. Most of Warren Buffett’s wealth was accumulated after age 65. Here’s what that can teach individual investors (cnbc)
13. The mortgage reform that could unleash the next big US stimulus (ft)
14. China Tech’s Stealth Rally Continues Unnoticed (chinalastnight)
15. Billionaire investor Mario Gabelli: Warren Buffett has created enormous wealth for his shareholders (cnbc)

1. Hong Kong Stocks March Into Bull Market as Global Money Returns (bloomberg)
2. New stimulus is coming as Politburo pledges to cut housing inventory: analysts (scmp)
3. MGM Stock Rises as Wall Street Praises Earnings. There’s ‘Momentum in Macau.’ (barrons)
4. Third Point made ‘substantial investment’ in Alphabet as shares fell on Google’s Gemini fiasco (marketwatch)
5. Fed Chair Projects Optimism Despite Stubborn Inflation (wsj)
6. BorgWarner raises full-year 2024 adjusted profit outlook (reuters)
7. Intel Bets $28 Billion Comeback on High-Tech US Chip Designs (bloomberg)
8. Unforgiving Investors Want Bumper Earnings After Record Rally (bloomberg)
9. Japan Likely Spent About $23 Billion in Latest Yen Intervention (bloomberg)
10. Powell Keeps Rate Cuts on Table But Leaves Timing Less Certain (bloomberg)
11. Odd Lots: Duolingo CEO on the Power of AI Learning (bloomberg)
12. Apple’s Earnings Come With a Low Bar and Big Buyback Hopes (bloomberg)
13. Number of Chinese Tourists Traveling Overseas Jumps (bloomberg)
14. Hybrid Cars Are Surging in Popularity Over EVs. Here’s the Real Reason They’re So Popular. (barrons)
15. The Reign of Portland, Maine, as the Top U.S. Luxury Hot Spot Continues for Third-Straight Quarter (barrons)
16. Opinion: Mario Gabelli reveals his market-beating secrets and offers some favorite stock picks (marketwatch)
17. The Fed Will Be Stuck On Hold Until Something Gives (barrons)
18. Albemarle Beats Earnings Estimates. Investors Hope for a Commodity Trough. (barrons)
19. Why ‘sell in May and go away’ could be a bit premature for stocks, according to one chart (marketwatch)
20. Fed Says Inflation Progress Has Stalled and Extends Wait-and-See Rate Stance (wsj)
21. Amazon Gets More Fuel for AI Race (wsj)
22. Bored Ape Yacht Club NFTs sold for millions in 2021—prices have dropped 90% since then (cnbc)
23. Goldman Sachs still sees two rate cuts this year after Powell speech (streetinsider)
24. Berkshire after Buffett: the risk ‘genius’ pulling the insurance strings (ft)
25. There are ‘very favorable signs’ inflation will come down, says Wharton’s Jeremy Siegel (cnbc)

1. Chinese Stocks See Longest Foreign-Buying Streak in a Year (bloomberg)
2. Fed to Signal Delay of Interest-Rate Cuts (bloomberg)
3. NYCB’s Results Are Better Than Worst Fears After Rocky Quarter (bloomberg)
4. Intel’s Gelsinger Fights Ghosts of History as Well as Rivals Nvidia, AMD (bloomberg)
5. Beijing ends curbs on home ownership in outer districts to stimulate buying (scmp)
6. Amazon’s Twitch launches TikTok rival amid push to ban the Chinese app (scmp)
7. Berkshire after Buffett: can any stockpicker follow the Oracle? (ft)
8. Amazon Q1 results top estimates as cloud demand rides AI wave higher (streetinsider)
9. The Fed Certainly Won’t Cut Rates. Here’s What to Focus on Instead. (barrons)
10. Generac Holdings Inc. (GNRC) Q1 2024 Earnings: Surpasses Revenue Estimates and Demonstrates … (yahoo)

1. PayPal lifts 2024 profit forecast as spending stays resilient, margins improve (reuters)
2. PayPal’s stock climbs as company boosts its earnings forecast (marketwatch)
3. PayPal Earnings Pop 27% Under New Reporting Method. PayPal Stock Is Set To Break Out. (investors)
4. PayPal’s Payment Volume Rises in Beginning of ‘Transition Year’ (bloomberg)
5. China Factory Activity Holds Up, Signaling Recovery Has Legs (bloomberg)
6. 3M ‘Reset’ Its Dividend. Why Its Stock Is Soaring. (barrons)
7. BofA on China’s Recovery as Factory Activity Holds Up (bloomberg)
8. Beijing Further Loosens Home Buying Curbs in Non-Core Areas (bloomberg)
9. Goldman Says Funds Likely Selling Japan Stocks to Buy Hong Kong (bloomberg)
10. China Stock Rebound Driven by Earnings Growth: JPMorgan (bloomberg)
11. 3M’s stock surges toward a 14-month high after profit, sales beat expectations (marketwatch)
12. China’s Leaders Hint at New Plan to Fix Biggest Drag on Economy (bloomberg)
13. Amazon Earnings Day Is Here. Focus On AWS, AI, and Advertising. (barrons)
14. Amazon Can Afford a Dividend. Its Earnings Will Underscore That. (barrons)
15. Fed to Signal It Has Stomach to Keep Rates High for Longer (WSJ)
16. Office-Loan Defaults Near Historic Levels With Billions on the Line (wsj)
17. The Yen’s Plunge and Dollar Devaluation (wsj)
18. China Hints at Rate Cuts, Property-Market Support (wsj)
19. China’s Leaders Hint at New Plan to Fix Biggest Drag on Economy (bloomberg)
20. McDonald’s Supersizes China Bet as Corporate America Pulls Back (wsj)
21. Buyers Are Back in Control as Luxury Home Sellers Slash Prices (wsj)
22. Bruins, Hurricanes, Avalanche, Canucks can clinch tonight: How to watch (usatoday)
23. China to Hold Delayed Party Conclave On Reform in July (bloomberg)
24. Molson Coors beats Q1 estimates on higher prices, strong demand (reuters)
25. China’s problem is excess savings, not too much capacity (ft)
26. Outlook ‘significantly brighter’ as Hong Kong attracts investors from US, Japan shares (scmp)
27. Hong Kong stocks round out biggest monthly gain since January 2023 (scmp)