What we are reading today:

February Manufacturing Report. The Institute for Supply Management said its survey of top manufacturing executives fell to 54.2% last month from 56.6% in January. Timothy Fiore, Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee joins us with analysis of the report.

This is what we are reading:

What we are reading today: China’s Chief Negotiator Literally Laughs In Donald Trump’s Face During Trade Talk – Esquire. A lack of understanding. These Three Things Are Contributing To China’s Bullish Stock Market – Forbes. It is an extension, not a solution. Story spiked: Kim’s Hanoi hotel masterstroke undone as White House press evicted – ABS-CBN. Stumbling out of the gate. Report: Michael Cohen plans to publicly accuse Trump of criminal conduct in office, during dramatic testimony before Congress – Business Insider. Set the DVR. Trump on brink of defeat on border emergency – Politico. May’s Brexit deal, no-deal or delay? PM offers MPs a choice – Reuters. The Health 202: ‘There is no story I think they can tell that would justify the price increases.’ – Washington Post.  Seven Big Pharma execs travel up to Capitol Hill to see how their lobbying dollars are being spent. Housing starts sink 11% to two-year low in December, but rising permits point to rebound – Marketwatch. AT&T defeats U.S. appeal to kill its Time Warner deal – Los Angeles Times. When a judge tells you that your appeal is a bad idea, it is probably a bad idea. 5G Makes the World’s Biggest Smartphone Conference Look More Like CES – Marketwatch. Your phone is obsolete. Elon Musk keeps slamming the SEC on Twitter. He has 2 weeks to respond in court – Los Angeles Times. Just say no to tweets. Yellen delivers harshest criticism yet of Trump, who declined to hire her …

What we are reading today. The Mueller Report Is Coming. Here’s What to Expect. – New York Times. A lot of people are going to be upset; we just don’t yet know which side. Robert Mueller’s “collusion” case so far, explained – Vox. Too far or not far enough. BAML: Investors are freaking out about the rising prospect of a global recession. – Business Insider. The biggest fear for credit investors. The trigger? Maybe that Commerce Dept is expected to report that foreign car imports pose a national security threat and might be subject to tariffs. Autos, planes boost durable-goods orders in December, but growth was invisible outside of transportation – Marketwatch. If cars and planes are stripped out of the equation, orders rose just 0.1%. So, yes, tariffs on cars would probably lead to a global recession. Leading index for U.S. economy falls in January, but there’s a catch – Marketwatch. Incomplete data due to government shutdown. JP Morgan economists now see the economy growing at just 1.5% pace this quarter – CNBC. Following the fourth quarter’s sluggish 1.4 percent pace. Bad economic news is bad for the stock market again with the Fed already on hold – CNBC.  The “put” is not in play while the Fed hits pause. The Supreme Court Just Stopped Local Sheriffs From Carjacking to Pay the Bills – Yahoo. The 14th Amendment’s excessive fines and the 8th Amendment’s due process kill the local sheriff’s slush fund. The bizarre election fraud hearings that could …

What we are reading: CNN: DOJ preparing to announce end of Mueller probe as soon as next week – The Hill. Intimidation, Pressure and Humiliation: Inside Trump’s Two-Year War on the Investigations Encircling Him – New York Times. It is still obstruction, even if it is public. Stock market’s post-Fed-minute dip fails to hold, as central bank seen split on policy strategy – Marketwatch. Split on rate hikes but near unanimous to stop reducing balance sheet. How High-Speed Rail Got Caught Between Newsom and Trump – New York Times. 16 states sue to stop Trump from using Emergency Powers to build wall – Alltop. Gold steady near 10-month high; palladium hits record level – Reuters. Canary in the gold mine? Elections Commission Chief Uses the “Nuclear Option” to Rescue the Agency From Gridlock – Mother Jones. The agency’s chair says she won’t allow its lawyers to defend it when it’s sued. Wait, we have an elections commission? What to Watch for During the Catholic Church’s Sex-Abuse Meeting – The Atlantic.

What we are reading: Walmart beats as online sales surge – Business Insider.  Online sales were strong. Does the Walton family earn more in a minute than Walmart workers do in a year? – Washington Post. True. Bernie Sanders to seek U.S. presidency again in 2020 – Reuters. Larry David for VP. House Dems to probe White House’s nuclear power efforts in Saudi Arabia – Axios. Deutsche Bank Reverses Pledge to Help Distressed Homeowners – Bloomberg. Dereg fever. Otherwise Rational People Still Betting Their Real Money On Steve Mnuchin Being Able To Reach A Trade Agreement With China – Dealbreaker. Believe it when it’s done. Space Force launch zooms closer to reality under President Trump’s directive – USA Today. Because if we have a Space Force, everything else will just fall into place. Exclusive: Fed’s Williams says new economic outlook necessary for rate hikes – Reuters. Rates on hold, tightening continues. Why Can’t Trump Build Anything? – New York Times. Infrastructure is dead.

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