Be in the know. 25 key reads for Thursday…

  1. ECB to Spend Extra 600 Bn Euro on Emergency Bond Buys (Barron’s)
  2. Deutsche Bank Upgrades Wells Fargo (WFC) to Buy; Risks Priced In (Street Insider)
  3. The Morgan Wallen “Chasin’ You” Stock Market (and Sentiment Results)… (Zero Hedge)
  4. Friday’s Job Report Could Support Recovery Hopes (Barron’s)
  5. Consumer Spending Trickles Back as U.S. Reopens (Barron’s)
  6. Podcast: The Paycheck Protection Program Is Starting to Run Out (Barron’s)
  7. History Can Show Us Why the Market Is Rising Now (Barron’s)
  8. Pinterest Accelerates Tech Projects as Pandemic Boosts User Engagement (Wall Street Journal)
  9. Fed Expands Municipal Bond Program, Opening Door to Some Smaller Cities (New York Times)
  10. Beijing to Give $1.7 Billion in Vouchers to Boost Shopping (Bloomberg)
  11. Global GDP Tracker’s 2.3% Drop in May Shows Worst Over (Bloomberg)
  12. Fauci (the Horse) Loses Race Badly in the Mud at Belmont Park (Bloomberg)
  13. European Central Bank takes its pandemic bond buying to 1.35 trillion euros to try and prop up economy (CNBC)
  14. Here are the 9 economic relief programs the Fed is using to combat coronavirus fallout (Business Insider)
  15. An oil CEO says crude prices could surge 90% to $70 by fall because US firms have ‘over-cut production’ (Business Insider)
  16. Saudi Arabia and Russia push for an extension to output cuts, OPEC+ meeting this week still possible (CNBC)
  17. American Airlines (AAL) Increases Domestic Flying for Summer Travel Season, Begins Reopening Admirals Clubs and Increases Flexibility (Street Insider)
  18. 10 US Oil Companies Still Likely to Thrive in 2030 (24/7 Wall Street)
  19. 1.88 million workers file for unemployment benefits (Yahoo! Finance)
  20. Nio stock surges after company posts record-high deliveries for May (MarketWatch)
  21. Homebuilders will benefit from Millennials leaving cities: Expert (Fox Business)
  22. U.S. banks attract bargain hunters (Reuters)
  23. Locked-Up Journalists. Espionage Investigations. Constitutional Challenges. The Government’s Release of Economic Data Was Arcane and Complex — Until Now. (Institutional Investor)
  24. Gilead Analyst: Coronavirus Drug, Arcus Collaboration Make Biopharma A Buy (Benzinga)
  25. Royal Caribbean to offer up to $2 billion in bonds and convertible bonds that mature in 2023 (MarketWatch)

The Morgan Wallen “Chasin’ You” Stock Market (and Sentiment Results)…

This week’s Stock Market theme song is Morgan Wallen’s “Chasin’ You.”  Managers who were dramatically underweight equities – and missed the rally – were reluctantly forced to succumb to Morgan’s lyrics this week. They scrambled to gain equity exposure and chased the stock market rally: Continue reading “The Morgan Wallen “Chasin’ You” Stock Market (and Sentiment Results)…”

Be in the know. 25 key reads for Wednesday…

  1. ADP Employment Change (May) -2.76M vs -9M Expected (StreetInsider)
  2. Gilead developing inhaled remdesivir usable outside of hospitals (New York Post)
  3. Trump Administration Escalates Global Fight Over Taxing Tech (New York Times)
  4. Small banks and small businesses turned out to be a good combination when it came to PPP loans (USA Today)
  5. Eurozone services PMI climbs to 30.5 in May (MarketWatch)
  6. Restaurant bookings have fully recovered in Germany in a sign that activity rebounds quickly as lockdowns ease (MarketWatch)
  7. Here’s what the ECB has been buying with the special pandemic asset-purchase program that it is set to expand (MarketWatch)
  8. Barron’s Daily: Good News Stock Investors — the Dollar Is Slumping (MarketWatch)
  9. Gilead’s stock upgraded on high hopes for remdesivir revenue (MarketWatch)
  10. The No. 1 thing Americans are spending their stimulus checks on — even more than shopping at Costco, Walmart and Target (MarketWatch)
  11. Saudi, Russia reach deal on oil cuts, raising pressure for compliance (Reuters)
  12. China drives global oil demand recovery out of coronavirus collapse (Reuters)
  13. Boeing jumps after Third Point reveals stake in monthly report (TheFly)
  14. Real Estate Investors View Small Cities as Big Opportunities (Institutional Investor)
  15. China Caixin service PMI up sharply in May (MarketWatch)
  16. What Happened in 1968 Can Show Us Why the Market Is Rising Now (Barron’s)
  17. Lyft Says Ride Volumes Picked Up Smartly in May (Barron’s)
  18. Boeing and Airbus Will Benefit First From an Aerospace Recovery (Barron’s)
  19. A Relative Calm as U.S. Cities Undergo Curfews (Wall Street Journal)
  20. How many small businesses in US are now fully or partially open (Fox Business)
  21. Mortgage demand from homebuyers jumps 18%, as interest rates set another record low (CNBC)
  22. Heart Drugs Show Promise With Covid-19 Complications (Wall Street Journal)
  23. British Pound Climbs on Optimism Over EU Trade Talks (Wall Street Journal)
  24. Fed Promised to Buy Bonds but Is Finding Few Takers (Wall Street Journal)
  25. Coronavirus Stimulus Funds Are Largely Spoken for Wall Street Journal)