Be in the know. 27 key reads for Friday…

  1. Ford Makes an Offer to the UAW Union. It Looks Light. (barrons)
  2. Walt Disney adds third Shanghai hotel in show of US ‘soft power’ (scmp)
  3. Hong Kong’s empty retail space falls to 3-year low as mainland shoppers return (scmp)
  4. Alipay+ teams up with Seoul’s government e-payments service (scmp)
  5. China stocks log best week since July on rate cuts as Hong Kong halts trading (scmp)
  6. China’s economy isn’t on the verge of collapse, and markets are overlooking these indicators, China Beige Book says (businessinsider)
  7. Intel offers an upbeat update, and its stock is gaining (marketwatch)
  8. Auto Industry’s Shift to EVs Gets $12 Billion Boost (wsj)
  9. NIO, Li, XPeng Combined Deliveries Set a Record (barrons)
  10. Why Amazon Stock Can Beat the Market and Notch Its Best Monthly Streak in 20 Years (barrons)
  11. Student Loan Repayments Are Resuming. What You Need to Know. (barrons)
  12. Dell Stock Surges After Earnings Blow Past Forecasts. Demand Is on the Mend. (barrons)
  13. Summer Spending Surge Shows Consumers Driving Economic Growth (wsj)
  14. Career Magic Happens in the Office (wsj)
  15. Arm, Instacart, Klaviyo Prep for Their IPOs (wsj)
  16. To Pay for Weight Loss Drugs, Some Take Second Jobs, Ring Up Credit Card Debts (wsj)
  17. Factories May Be Leaving China, but Trade Ties Are Stronger Than They Seem (nytimes)
  18. The U.S. and China Are Talking Again. Where It Will Lead Is Unclear. (nytimes)
  19. China Ramps Up Campaign to Boost Fragile Economy, Currency (bloomberg)
  20. Wall Street Gets Tough on Return-to-Office Laggards (bloomberg)
  21. China says the best way to ‘de-risk’ is to restore stability with the U.S. (cnbc)
  22. China tries again to support its battered economy, bringing in new measures to boost the yuan (businessinsider)
  23. The 10-year Treasury bond is a ‘screaming buy’ because the Fed has regained credibility on fighting inflation (businessinsider)
  24. The new bull market for tech stocks is here as the sector is having a ‘1995-like AI Revolution,’ Wedbush says (businessinsider)
  25. Macau Casino Rebound Shows Travel Is Bright Spot Amid China’s Woes (bloomberg)
  26. Intel to Accelerate Arizona Fab Build Out After Getting Large Customer Order (yahoo)
  27. China boosts housing market and renminbi support (ft)

Be in the know. 15 key reads for Thursday…

  1. China’s Economy Is Perking Up. Cheap Money Helped. (barrons)
  2. China’s Factory Activity Sparks Hope Slump Is Bottoming Out (bloomberg)
  3. 3M Stock Catches Another Upgrade. Why Sentiment Is Shifting. (barrons)
  4. Fed’s Bostic says U.S. interest rates are high enough (cnbc)
  5. Manufactured Home Stocks Are Jumping. Hurricane Idalia Could Spur Demand. (barrons)
  6. “Though macro concerns remain and we could see periods of volatility, we continue to see the restructuring as a potential long-term value driver,” Patil said. “Alibaba remains, in our belief, the main China e-commerce player and continues to see a large secular growth opportunity.” (barrons)
  7. PCE Measure of Shelter Slows to 7.8% YoY in July (calculatedrisk)
  8. China Eases Down Payments, Mortgage Rates in Fresh Stimulus Move (bloomberg)
  9. UBS Gets Everything It Wants From Credit Suisse (wsj)
  10. Sea Brings Back One of Its Top Game Titles in India After Ban (bloomberg)
  11. After Four Years, the $205,000 Maserati GranTurismo Is Back: Review (bloomberg)
  12. The Chinese property market may look like it’s imploding. But one expert doesn’t think it’ll cause a financial crisis — and there may even be a bright spot. (businessinsider)
  13. Rent growth nosedived again in August as tenants gain leverage over landlords — and apartments in these 42 cities are actually cheaper now than they were last year (businessinsider)
  14. The S&P 500 is about to take off in a month-long rally that will retest its 2023 high, Fundstrat says (finance.yahoo)
  15. China allows the public to use generative AI chatbots for the first time (scmp)

“So Far, So Good” Stock Market (and Sentiment Results)…

In our July 27, 2023 weekly note and podcast|videocast we talked about a 3-5% pullback in the month of August.  We also said we expected these dips would be BOUGHT due to the fact that most managers under-performed in 1H and were still overweight cash/t-bills and underweight equities (relative to their 20 year history): Continue reading ““So Far, So Good” Stock Market (and Sentiment Results)…”