Dr. Ed's Blog

August 04 (Friday)

Latest Morning Briefing Executive Summary: Oil, Cat & Flying Cars
With US economic growth so strong and OPEC so disciplined, oil inventories are rapidly depleting. The surpluses that have tethered global oil prices over the past year will disappear next year as consumption overtakes production, forecasts the EIA. Jackie examines the reasons and the recent performance of the S&P 500 Energy sector and its component industries. … Also: The US economy’s vitality was evident in Caterpillar’s remarkable Q2, a testament to the strength of demand for building new homes, mining minerals, and constructing factories. … And in our Disruptive Technologies segment: Will cars ever fly?
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 31.

Markets
Bank of America Clients Turn Cautious, Flee From Stocks | B
Surging U.S. crude oil exports disrupt European, Asian prices  | R

Global
Debt-Burdened World Leaders Love to Hate Ratings Companies | B
Inflation Is Cooling. Food Inflation Could Get Worse. | WSJ

US
Health-Care Sector Accounts for a Third of US Job Gains | B
Congress Ended a Tax Break. How That May Help Higher Earners. | WSJ
California must come to grips with its population decline and run itself differently. | Slate

China
Analysis: China’s stubborn savers risk precipitating liquidity trap | R
Huawei launches HarmonyOS 4 as it plots China smartphone revival | C
China Carmaker BYD Sells More Vehicles Than Tesla (TSLA) | B

Geopolitics & trade
Exclusive: Russia doubles 2023 defence spending plan as war costs soar | R

Industries & companies
Media: Opinion | Movies to Sell Us on the American Dream | N
Rails: How Brightline is changing passenger rail in the U.S. | C
Tech: Apple (AAPL) Set to Relinquish Historic $3 Trillion Value as Sales Fall | B
Travel: American Travelers Are Shunning the U.S. for Europe | WSJ
Travel: International travel surges while domestic airfares, hotel rates lag | C

Corporate finance
Disney CEO Bob Iger wants ESPN minority partners but deal won’t be easy | C
Hasbro sells off eOne, taking a page from Mattel’s playbook | C

Climate
We’re having a heat wave but the hot air is coming from a predictable swamp | Fox
Bernie Sanders: DOJ must hold fossil fuel CEOs accountable for climate change | MSNBC

Beyond markets
The Real Reason You’re Having a Hard Time Getting Things Done at the Office | WSJ
Triple-Digit Heat, but No Electric Bill? For Passive Homeowners, ‘It’s Hard to Go Back’ | WSJ

August 03 (Thursday)

Latest Morning Briefing Executive Summary: Oil, Cat & Flying Cars
With US economic growth so strong and OPEC so disciplined, oil inventories are rapidly depleting. The surpluses that have tethered global oil prices over the past year will disappear next year as consumption overtakes production, forecasts the EIA. Jackie examines the reasons and the recent performance of the S&P 500 Energy sector and its component industries. … Also: The US economy’s vitality was evident in Caterpillar’s remarkable Q2, a testament to the strength of demand for building new homes, mining minerals, and constructing factories. … And in our Disruptive Technologies segment: Will cars ever fly?
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 31.

Markets
Morning Bid: A sea of red, but AAA shock will fade | R
U.S. Downgrade Sparks Selloff in Stocks and Bonds | W
US Treasury Yields Hit 2023 Highs After Fitch Downgrade | B

US I
Fitch’s US Rating Downgrade Spotlights Debt Worry as Recession Fear Fades | B
The Fitch analyst behind the U.S. downgrade breaks down the decision | C
Ex-S&P Analyst David Beers Who Cut US in 2011 Says AAA Is No God-Given Right | B
America’s Fiscal Time Bomb Ticks Even Louder | W
JPMorgan CEO Jamie Dimon calls Fitch U.S. downgrade ‘ridiculous’ | C
Treasury’s Yellen says Fitch downgrade is ‘entirely unwarranted’ | C

US II
Private sector added 324,000 jobs in July, well above expectations, ADP says | C
Yellen: IRS paperless system will cut deficit by $2.6 trillion over 10 years | C

Geopolitics & trade
Analysis: In India, it’s advantage Tesla as Chinese automakers face heat | R
The West Attacked Russia’s Economy. The Result Is Another Stalemate. | W

Industries & companies
Media: Elon Musk tweets, Twitter bots boosted FTX-listed crypto: researchers | C
Media: How ESPN Went From Disney’s Financial Engine to Its Problem | N
Tech: DoorDash Reports Record Delivery Orders In Second Quarter | B
Tech: AMD shares fall as analysts worry AI chip targets may be ambitious | R
Tech: Shopify forecasts solid revenue growth on higher prices, more signups | R

AI
Is AI ready to handle cyber-economic warfare? | The Hill

Beyond markets
On One Texas River, Four Dam Failures Show Harsh Reality of Aging Infrastructure | W

August 02 (Wednesday)

Latest Morning Briefing Executive Summary: Global Smorgasbord
While the economies of China and the Eurozone countries have been lethargic, with a contracting M-PMI in China and declining industrial sentiment in the EU, the US economy has been anything but. The Atlanta Fed’s GDPNow model shows Q3 GDP growth tracking at 3.9%. We’re increasingly confident about our no-landing/rolling-recovery outlook over the next 18 months, to which we ascribe 85% subjective odds. … Also: S&P 500 forward earnings continues to recover. … And Joe reports reassuring takeaways from recently released July data on analysts’ estimate revisions for earnings and revenues.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 31.

Markets
U.S. debt downgrade sinks global markets — but economists are not concerned | C
Oil Prices Perk Up as Recession Worries Ebb and Supply Tightens | W

Central banks
Focus: Central Europe’s arms makers scramble for workers as Ukraine boosts business | R
 
US I
Fitch downgrades U.S. long-term rating to AA+ from AAA | C
Fitch’s US Credit Downgrade Sparks Criticism Along With Unease | B
Mortgage demand drops for third straight week as interest rates rise | C
BofA Joins Fed in Reversing Recession Call Amid Growing Optimism | B
Strong Economic Data Buoys Biden, but Many Voters Are Still Sour | N
Trump Indictment News: Former President Charged In Special Counsel’s 2020 Election Investigation | W
 
US II
US Companies Added 324,000 Jobs in July, ADP Says | B
US employers are stuck in a hiring catch-22 | The Hill
‘How Do I Do That?’ The New Hires of 2023 Are Unprepared for Work | W
How Much Do I Need to Retire? Workers Says They Want to Save $1.8 Million | B

China
Insight: World battles to loosen China’s grip on vital rare earths for clean energy transition | R
 
Industries & companies
Consumer: Amazon Fresh grocery delivery opens to people without Prime | C
Media: Democrats press Musk on ‘hostile stance’ toward independent research | C
Tech: iPhone maker Foxconn to invest $600 million into India projects | C
 
AI
Read This Before You Pick Your Favorite Artificial Intelligence Stocks | W
The Bull Market in Artificial Intelligence Is Just Getting Started: 3 Reasons to Buy Amazon Stock Right Now | MSN
How artificial intelligence is being used to detect, treat cancer — and the potential risks for patients | yahoo.com
How A.I. may make Social Security fraud ‘easier and faster to execute’ | C
Strict curbs on artificial intelligence would hurt striking writers and actors | WT

Crypto
Crypto Is Illegal in China. Binance Does $90 Billion of Business There Anyway. | W

Climate
Iran begins two-day nationwide shutdown due to soaring temperatures | C

August 01 (Tuesday)

Latest Morning Briefing Executive Summary: Mostly All About Inflation
Rates of inflation are a function of the business cycle as well as the monetary cycle, and there tends to be symmetry to their ascents and descents, especially for goods inflation. … The latest bout of high inflation was triggered by demand shocks resulting from the pandemic, which led to supply shocks, aggravated by the Ukraine war. … Since last summer, however, inflation in the US has been on a disinflationary trend. Deflation in China’s PPI suggests that the US could experience immaculate disinflation, i.e. lower inflation without a recession.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 31.

Markets
A New Big Bull on Wall Street Sees S&P 500 at Record by Year-End | B
Earnings Season Threatens Lofty Stocks | W
Everyday Investors Are Thriving in a World Awash in Yield | W
OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds | R
Wall St. Pessimists Are Getting Used to Being Wrong | N
US Recession Indicator Sahm Rule Might Not Hold for 2023 | B

Central banks
Fed Interest-Rate Pause in September Seen Likely by Wall Street Economists | B
Christine Lagarde: ECB press conference – introductory statement | BIS
Missing Workers and Missing Jobs Since the Pandemic | Federal Reserve Bank of Chicago

US
Why many homeowners feel trapped by low-rate mortgages | C
Housing Market Is Stuck as Homeowners With Low Mortgage Rates Stay Put | B

China
Column: China’s weak PMI means good news for commodities, for now | R
Column: China imports less refined copper but raw materials surge | R
Exclusive: China asks some banks to reduce or delay dollar buying to ease pressure on yuan -sources | R

Geopolitics & trade
China’s war chest: how Beijing is using its currency to insulate against future sanctions | China | The Guardian
Russia’s Seaborne Crude Flows Slump to the Lowest Since January | B

Industries & companies
Autos: Ford restarts F-150 Lightning production amid heightened demand | C
Autos: Xpeng, Nio, Li Auto July electric vehicle deliveries rise | C
Media: Sound of Freedom outgrosses Mission: Impossible, The Flash | C
Retail: Walmart pushes into in-stores advertising as new revenue driver | C

Crypto
Some crypto assets are securities in Kwon Luna case: Manhattan judge | C

July 31 (Monday)

Latest Morning Briefing Executive Summary: The Godot Recession
We’re raising the subjective odds we assign to the no-landing economic scenario through year-end 2024 (by 10% to 85%) and lowering our odds of a hard landing (by 10% to 15%). But we’re keeping close tabs on hard-landers’ latest arguments. Today, we summarize the main ones and give our rebuttals. … The biggest issue dividing the two camps is the outlook for consumer spending, representing over two-thirds of nominal GDP. If consumers don’t pull back on spending once their pandemic-related savings run out, an economy-wide recession would be a stretch. We say they won’t retrench, having other sources of purchasing power. … And: Dr. Ed reviews “Barbie” (+).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 24.

Markets
The Benefit of Owning Stocks Over Bonds Keeps Shrinking | W

Central banks
Why the Drivers of Lower Inflation Matter | W
Clock on the Fed’s ‘soft landing’ may already be ticking | R
Get Real Pundits, the Fed Can’t Take Away the ‘Punch Bowl’ | FO

US
61% of Americans live paycheck to paycheck even as inflation cools | C
Local Malls, Stuck in ‘Death Spiral,’ Plunge in Value | W
Biden’s industrial policies need private investors to supercharge the economy  | The Hill
More state child tax credits are expanding cash assistance for families | Vox
How to apply for Biden’s new SAVE student loan repayment plan | C
There’s Money to Be Made From Your Midlife Crisis | W

Europe
Europe Returns to Timid Growth, but Bigger Headwinds Loom | W

China
While Everyone Else Fights Inflation, China Deflation Fears Deepen | W
Words only go so far: Investors want property fixed before buying China | R
In Xi Jinping’s China, central planners rule | E

India
India’s Economy Is Booming, and There’s More to Come. Here’s How to Invest. | BR

Geopolitics & trade
China curbs exports of drone equipment amid U.S. tech tension | R

Industries & companies
Autos: How EVs are upending the 100-year-old auto supply chain | C
Consumer Discretionary: Amazon says it’s delivering more packages in one day or less after overhauling delivery network | C
Media: Buy Disney Stock. The Magic Will Return. | BR
Media: X, Formerly Known as Twitter, Reinstates Kanye West’s Account | W
Tech: Apple’s iPhone 15 Pro will have USB-C charging, titanium edges: Report | C

Technology
The Robots We Were Afraid of Are Already Here | N
A.I. could affect many white-collar, high-paid jobs | C
Hollywood’s Fight: How Much AI Is Too Much? | W
 
Beyond markets
How to run a business in a dangerous and disorderly world | E
Covid vaccine: What uptake of new shots could look like | C

July 29 (Saturday)

Latest Morning Briefing Executive Summary: Industrials, Tech & Identifying Humans
US government incentives offered to entice manufacturers to set up shop in the USA have hit their mark: Manufacturers in huge numbers, domestic and foreign, have been revamping their supply chains to relocate their production facilities to the US. It’s not always easy, as Jackie explains. But the boost to US economic activity is quantifiable and growing. … Also: AI is here, but all the ways it may disrupt markets are still unknown; will it dislodge the leaders in search and office software, Alphabet and Microsoft? … And: The dilemma of how to tell whether online content was human- or AI-generated has a solution, says one father of AI, involving eyeballs, orbs, and Worldcoin.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 24.

Markets
S&P 500 closes nearly 1% higher on softening inflation data, nabs 3rd week of gains | C
‘Dangerous’ Consensus Has Investors Betting It All on Buoyant Markets | B

Central banks
PCE inflation June 2023: Yearly rate increase is lowest since March 2021 | C
Bank of Japan Loosens Grip on Market, Lets Yields Jump to 9-Year High | W
EU stress test shows three banks falling short | R

US
How the U.S. Economy Is Sticking the Soft Landing | W
The rise of gig workers is changing the face of the US economy | NN

Geopolitics & trade
Putin’s War Is Slowly Destroying Europe’s Breadbasket | PO
U.S. announces Taiwan weapons package worth up to $345 million | C

Industries & companies
Autos: Ford embraces hybrids as it loses billions on EVs | C
Autos: smart Europe transforms electric car sales with real-time personalization | C
Autos: Why E-Bikes, EVs and Laptops Are Catching Fire | W
Energy: Exxon and Chevron Signal They Are Still Shopping for Deals | W
Financials: EU stress test shows three banks falling short | R
Media: Elon Musk’s Quixotic Quest to Turn X Into an ‘Everything App’ | N
Media: How Netflix’s Algorithms and Tech Feed Its Success | W
Pharma: J&J effort to resolve talc cancer lawsuits fails a second time | C
Retail: That Cool New Bookstore? It’s a Barnes & Noble. | W
Retail: How America’s biggest retailers will use tech to catch retail theft | C

Technology
Why Apple doesn’t talk about AI the way Google, Meta and Microsoft do | C
SpaceX is testing a “flame deflector” for Starship without permits | C

Corporate finance
Banks Are Halting Stock Buybacks Again as New Capital Rules Loom | W

Beyond markets
Psychopathic Tendencies Help Some People Succeed in Business | Scientific American
Sam Bankman-Fried should be jailed, New York federal prosecutors say | C

July 28 (Friday)

Latest Morning Briefing Executive Summary: Industrials, Tech & Identifying Humans
US government incentives offered to entice manufacturers to set up shop in the USA have hit their mark: Manufacturers in huge numbers, domestic and foreign, have been revamping their supply chains to relocate their production facilities to the US. It’s not always easy, as Jackie explains. But the boost to US economic activity is quantifiable and growing. … Also: AI is here, but all the ways it may disrupt markets are still unknown; will it dislodge the leaders in search and office software, Alphabet and Microsoft? … And: The dilemma of how to tell whether online content was human- or AI-generated has a solution, says one father of AI, involving eyeballs, orbs, and Worldcoin.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 24.

Central banks
Key Fed inflation rate falls to lowest annual level in nearly 2 years | C
Wage Growth and Inflation Ease as Fed Considers Next Move | W
Why We See Interest Rates Falling Drastically in 2024 | Morningstar
Bank of Japan loosen’s YCC, cites ‘greater flexibility’ and jolts markets | C
Bank of Japan Loosens Grip on Market, Lets Yields Jump to 9-Year High | W
Bernanke Tapped to Find Out Why U.K. Central Bank Misjudged Inflation | W

US
US annual inflation slows in June; labor costs cool in second quarter | R
GDP Report Shows U.S. Economy Grew 2.4% in Second Quarter | W
Soft Landing Optimism Is Everywhere. That’s Happened Before. | N
KPMG offers teens paid internships to boost interest in accounting | C

China
Fewer countries see China as the world’s top economic power | QZ

India
Exclusive: India regulator seeks curbs to limit retail investors’ derivatives risk | R

Geopolitics & trade
Column: China hugely boosts crude stockpiling on cheap Russian oil | R
Column: LME’s Russian aluminium dilemma set to become more acute | R
Europe Avoids China’s Belt and Road Forum, Keeping a Distance From Xi and Putin | W
What Qin Gang’s disappearance means for U.S.-China relations | C

Industries & companies
Autos: View shift to zero-emission mobility as a marathon: Mercedes-Benz CEO | C
Financials: An Exodus of Talent Is Imperiling Goldman’s Overhaul | W
Retail: Inside Walmart’s Warehouse of the Future | W
Tech: How the world went from a semiconductor shortage to a major glut | C
Tech: Elizabeth Warren and Lindsey Graham Will Break the Internet | Reason

Technology
Google’s builds A.I. into robots to teach them to throw out the trash | C
SpaceX was close to breaking NASA Gemini record with Falcon launches | C

Corporate finance
Biogen to buy Reata for $6.5 billion to bulk up rare disease portfolio | C

Climate
‘I Don’t Want to Be Here Anymore.’ The Economic Cost of Houston’s Heat. | W
Biden’s Department of Energy will loan out billions for energy infrastructure reinvestment | Vox

July 27 (Thursday)

Latest Morning Briefing Executive Summary: Industrials, Tech & Identifying Humans
US government incentives offered to entice manufacturers to set up shop in the USA have hit their mark: Manufacturers in huge numbers, domestic and foreign, have been revamping their supply chains to relocate their production facilities to the US. It’s not always easy, as Jackie explains. But the boost to US economic activity is quantifiable and growing. … Also: AI is here, but all the ways it may disrupt markets are still unknown; will it dislodge the leaders in search and office software, Alphabet and Microsoft? … And: The dilemma of how to tell whether online content was human- or AI-generated has a solution, says one father of AI, involving eyeballs, orbs, and Worldcoin.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 24.

Energy
Coal consumption hit an all-time high in 2022, IEA says | C
Column: China hugely boosts crude stockpiling on cheap Russian oil | R
Insight: Obscure traders ship half Russia’s oil exports to India, China after sanctions | R
Oil giant Shell posts sharp drop in profit on weaker commodity prices | C

Central banks
Federal Reserve raises interest rates by a quarter point: Live updates | Vox
What Fed Hikes? Much of America’s Consumer Debt Is Still Riding Ultralow Rates | W
ECB rate decision July 2023: raises rates by 25 basis points | C

US
The Economy Has Defied Expectations. Here’s What to Focus On in the GDP Data. | W
The real scoop on Bidenomics: Corruption, tax evasion and Hunter | P
Seller Financing: Bargaining Chip or Big-Time Risk? | W

Europe
Column: Can Spain & Portugal solve Europe’s industrial power cost crisis? | R
Extreme heat: Soaring temperatures bring misery to daily life in Spain | C

Geopolitics & trade
Russian Attack on U.S. Drone Spurs Fears of Escalation Over Syria | W
Putin promises African leaders free grain despite ‘hypocritical’ Western sanctions | R
Vivek Wadhwa: ‘By working together, the U.S. and India can defeat cancer within 20 years’ | Fortune

Industries & companies
Airlines: Sweltering Planes. Baking Runways. How This Heat Is Testing Summer Travel. | W
Autos: Western car makers look to slash EV costs to fight Chinese ‘invasion’ | R
Media: Mark Zuckerberg Could Be Held in Contempt of Congress: What to Know | W
Media: Past Twitter lieutenant Esther Crawford defends, criticizes Musk | C
Tech: EU opens antitrust probe into Microsoft bundling of Teams app | C
Tech: Opinion | Lindsey Graham and Elizabeth Warren: We Must Regulate Big Tech | N

Technology
The First Smart Gun Is Finally Coming to Market. Will Anyone Buy It? | W

July 26 (Wednesday)

Latest Morning Briefing Executive Summary: Over There & Over Here
We keep tabs on how well the world economy is faring by monitoring our Global Growth Barometer as well as the “flash” S&P Global PMIs for the major developed economies. “Soft landing” best describes what the global economy has been undergoing, while “no landing” characterizes the slowly growing US economy. … China’s economy has struggled under the weight of several problems; we doubt the leadership can fix them as promised. … In the US, the latest consumer confidence survey shows that the labor market remains strong.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 24.

Central banks
Powell Handed Easy Profits to Wall Street on Fed Day | B
Fed poised to hike rates as markets anticipate inflation endgame | R
Fed Set to Raise Rates to 22-Year High. Here’s What to Focus On. | W
Low Fed interest rates reshaped the U.S. economy; here’s what’s next | C

US
Home Prices Fell Year-Over-Year in May | W
UPS strike 2023: UPS and Teamsters reach tentative agreement to avert nationwide strike | Vox
Student Loan Bills Return: Gen Z Grads Prepare To Pay After Pandemic Pause | B
Biden’s ‘Made in America’ Pledge Collides With His Climate Goals | W
Bath & Body Works Cracks the Code to ‘Made in America’ | W
 
Europe
European banks flag bad loan risks as global economy falters | R
Italy Says it Will Build the Longest Suspension Bridge in the World. Don’t Hold Your Breath. | W

China
China’s Soaring Youth Unemployment Threatens Xi’s Economic Vision | W
China Probed Covid-19 Policy Leaks by Ex-Government Officials | W

Geopolitics & trade
China is counting on America’s suicidal immigration policy | P

Industries & companies
Autos: New and used EV prices have dropped, but don’t rush to buy | C
Biotech: Biotech Stocks Join AI-Fueled Rally | W
Financials: Why SVB Financial Is Getting Off Easy in Bankruptcy Court | W
Media: Opinion | Social Media Influencers Are Holding Restaurants Hostage | N
Media: Meta’s Threads Isn’t Labeling Propaganda Accounts From Russia, China State Media | W
Retail: Gap taps Mattel executive Richard Dickson to be its new CEO | C
Tech: Samsung Galaxy Z Flip 5 and Galaxy Fold: Specs, price, details | C

Corporate finance
PacWest, Banc of California Merge to Get Smaller. Others May Follow. | W

Technology
Can AI Replace Humans? We Went to the Fast-Food Drive-Through to Find Out | W
G/O Media’s disastrous use of AI foreshadows a major crisis | MSNBC

Beyond markets
Hunter Biden set to plead guilty on criminal tax charges | C

July 25 (Tuesday)

Latest Morning Briefing Executive Summary: Workers Of The World: Strike!
What’s on our worry list? Yesterday, we covered urban office real estate, which adds credit availability concerns to our worry list. Today, we look at the labor market, specifically the unrest fomented by the effects of the pandemic and inflation. … Labor unions have grown in might, their members are striking, and employers are being forced to meet their demands. … So we are adding a renewed wage-price spiral to our worry list, which could happen if a rebound in wage inflation leads to resurgent consumer price inflation.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 24.

Markets
‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Mea Culpa | B
Bond Traders Bet on ‘Nirvana’ in New Decoding of Yield Curve | B

Central banks
Why the Fed Isn’t Ready to Declare Victory on Inflation | W
A ‘momentous week’ ahead as the Fed, ECB and Bank of Japan near pivot point | C

US
Housing-Market Rebound Poses Challenge for Fed’s Inflation Fight | B
White House says Biden will veto Republican-backed bills over spending cuts | R
Americans in Their Prime Are Flooding Into the Job Market | W

Europe
France, Germany Flash PMI Data Give Recession Warning Signals | B
Extreme heat in Europe prompts tourists to seek cooler vacation spots | C

Geopolitics & trade
Nikki Haley says China is an enemy, U.S. companies need Plan B | C
U.S. Weighs Potential Deal With China on Fentanyl | W

Industries & companies
Chemicals: Bayer slashes outlook over weak glyphosate demand | R
Financials: FDIC Says Some US Banks Incorrectly Reported Amount of Uninsured Deposits | B
Financials: Banks Are Going on a Diet | W
Logistics: FedEx pilots reject tentative deal, supervised talks likely | C
Media: Elon Musk risks more damage to Twitter business after name change to X | C
Media: Spotify increases prices for its premium subscription plans | C
Media: ‘Barbenheimer’ opening weekend in the top 5 of all time | C

Technology
Does Sam Altman Know What He’s Creating? | The Atlantic
Cleaning Up ChatGPT Takes Heavy Toll on Human Workers | W
Apple Vision Pro headset applications open for developers | C

Corporate finance
FOMO Drives Investors as IPO Market Awakens From Long Slumber | W
M&A Deal Slump Sparks Turnover at Investment Banks Goldman Sachs, Morgan Stanley | B

Beyond markets
‘Oppenheimer’ and the Nightmare of Nuclear Annihilation | The Atlantic
‘Oppenheimer’ pushes Army to warn of long lines at Trinity site | C
Parents Hire $4,000 Sorority Consultants to Help Daughters Dress and Impress During Rush | W