Friday's Fast Five: Week of 1.19
What Comes After a Good Year in the Stock Market? (A Wealth of Common Sense): Bad years in the stock market are typically followed by good years (but not always). There are, of course, bad years that follow good years, just like there are good years that follow bad years. Here are all of the down years following a double-digit up year since 1928 for the S&P 50.
Inside Saudi Arabia’s $3 Trillion Plan to Move Past Oil (Barron's): Saudi Arabia has embarked on a grand experiment—a Middle East version of “if you build it, they will come.” Facing an existential threat to oil, the country’s lifeblood, Saudi Arabia is spending more than $3.2 trillion to transform its economy by 2030. While oil remains essential, the country is trying to fashion itself as a high-tech hub and destination for global business and leisure, preparing for the end of the fossil fuel era.
Judge blocks JetBlue-Spirit merger after DOJ’s antitrust challenge (CNBC): A federal judge Tuesday blocked JetBlue Airways’ purchase of Spirit Airlines after the Justice Department sued to stop the merger, saying the deal would drive up fares for price-sensitive consumers by taking the discount carrier out of the market. JetBlue’s proposed $3.8 billion purchase of discounter Spirit would have produced the country’s fifth-largest airline, a deal the carriers had said would help them better grow and compete against larger rivals like Delta and United
Hyundai, Kia Emerge as Tesla’s Biggest U.S. Rivals on EVs (The Wall Street Journal): Hyundai Motor and affiliate Kia jointly captured the No. 2 slot last year in U.S. electric-vehicle sales, trailing only Tesla, which still holds a commanding lead. Analysts say the allied carmakers, both a part of South Korea’s Hyundai Motor Group conglomerate, are poised to cement or advance their lead over non-Tesla rivals this year with fresh EV models and aggressive pricing.
The River Finally Came for Bill Belichick (The Ringer): For 24 years, Bill Belichick was the Patriot Way. His legacy of the cold pursuit of winning at all costs made him the most decorated coach of all time, but in the end, it helped unravel the greatest dynasty the NFL had ever seen.