Dr. Ed's Blog

February 17 (Friday)

Latest Morning Briefing Executive Summary: Industrials, Chinese Spies & MIT’s Picks
Three pieces of recent legislation incentivize manufacturers to produce their goods on US soil, and the amount being spent on the construction of new factories has risen sharply, presumably in response. Jackie examines the projects planned by three such companies—a solar panel maker, a semiconductor manufacturer, and Ford Motor. … Also: We recap the DOJ’s recent efforts to stop Chinese spies intent on stealing US technology and defense secrets. … And: A look at several innovations on MIT’s short list of life-changing new technologies.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 13.

Markets
Wall Street ends down sharply as data fuels rate-hike worries | R
Column: Rising flow of Russian oil products to China, India and the Middle East | R

Central banks
Two Fed Officials Would Have Supported Larger Rate Increase This Month | W
Federal Reserve Officials Support More Rate Hikes to Ensure Lower Inflation | B

US I
U.S. Households Lifting Economy After Being Stung by Inflation Last Year | W
U.S. lawmakers seek answers from egg companies on record-high prices | R
Why Does Pet Food Cost So Much? | W
Column: U.S. jet fuel shortage drives airline costs higher | R
January PPI Report Shows Producer Prices Rose, Pointing to Persistent Inflation | W

US II
Credit Card Debt: Americans Have Racked Up Nearly $1 Trillion in Balances | B
Why some young laid-off workers aren’t rushing to find new jobs | C
Expert: NY’s high taxes pushing out the residents who fund the state | P

US III
U.S. Could Default as Soon as July if Debt-Ceiling Standoff Isn’t Resolved | W
President Biden ‘Remains Fit for Duty,’ White House Doctor Says | W
Nikki Haley’s Cognitive Test for Elderly Politicians Is Ageist | B
Nikki Haley Calls Out CNN’s Don Lemon’s Comments on Twitter | B

Europe
French Workers Hold Fresh Strikes Against Macron’s Pension Overhaul | W

Flying objects
Biden says he will speak to China’s Xi about balloon incident | R
Biden says three recently downed aerial objects were not linked to Chinese spy program | C

Industries & companies
Autos: GM’s Barra Says Strong Truck Sales Are Funding Electric Car Sales Blitz | B
Autos: Tesla recalls 362,000 U.S. vehicles over Full Self-Driving software | R
Consumer: Inside Meta’s Push to Solve the Noisy Office | W
Financials: Car insurance is on the rise in 2023 — Here’s how to save | C
Media: YouTube CEO Susan Wojcicki says she’s stepping down | C
Pharma: Adderall Shortage 2023: Teva’s ADHD Drug Is Missing for Millions of Americans | B
Retail: By Adding Apartments, Malls Seek to Bring Shopping Closer to Home | N

Technology
Microsoft’s Bing A.I. is leading to creepy experiences for users | C

Crypto
Bitcoin’s Future Depends on a Handful of Mysterious Coders | W

February 16 (Thursday)

Latest Morning Briefing Executive Summary: Industrials, Chinese Spies & MIT’s Picks
Three pieces of recent legislation incentivize manufacturers to produce their goods on US soil, and the amount being spent on the construction of new factories has risen sharply, presumably in response. Jackie examines the projects planned by three such companies—a solar panel maker, a semiconductor manufacturer, and Ford Motor. … Also: We recap the DOJ’s recent efforts to stop Chinese spies intent on stealing US technology and defense secrets. … And: A look at several innovations on MIT’s short list of life-changing new technologies.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 13.

US I
GDPNow – Federal Reserve Bank of Atlanta | Atlanta Fed
U.S. Retail Sales Rebounded Sharply in January | W
Highest Profits Since 1950 Helped Employers Hoard Jobs. Now, They May Reverse | B
Half of US Job Switchers Beat Inflation With Wage Bump in 2022 | B
Solving the puzzle of high inflation, weak growth and low unemployment | The Hill

US II
Opinion | Why are so many Americans sour on the economy? Look at this new data. | WP
Opinion | Don’t believe what anyone says about the economy. Including me. | WP
What Is Pushing the National Debt to Its Limit? | W
Gen Z isn’t interested in driving. Will that last? | WP

China
China’s shrinking working-age population to send ripples through global economy | South China Morning Post | SCMP
Analysis: Why China’s reopening isn’t inflationary | R
Oppo Find N2 Flip: Specs, price, availability | C

Europe
First Brexit, Then Bregret. Is It Too Soon for Reconciliation? | B

Flying objects
U.S., China Diplomats See Chance to Clear the Air Over Balloon | W
Biden plans to deliver his most extensive remarks yet about the aerial objects the military shot down | C
China Warns US That Rising Tensions Over Balloon Could Jeopardize Talks | B

Geopolitics & trade
China sanctions Lockheed Martin, Raytheon over Taiwan arms sales | R
China’s New Tech Czar Lays Out Plan to Transcend US Sanctions | B
India to Build All-Weather Road to Carry Troops to Its Disputed Area with China | B

Industries & companies
Autos: Charlie Munger says BYD is far ahead of Tesla in China | C
Autos: Ford Says Battery Fire Behind Lightning Production Pause | W
Financials: Banks Are Breaking Up With Crypto During Regulatory Crackdown | W

Corporate finance
Rise of zombie VCs haunts tech investors as startup valuations plunge | C

Technology
Google asks employees to rewrite Bard’s incorrect responses to queries | C

Crypto
Bitcoin (BTC) price surges as crypto market gains $84 billion in value | C

February 15 (Wednesday)

Latest Morning Briefing Executive Summary: On Consumer Inflation & Housing Activity
Yesterday’s CPI report for January showed inflation continuing to moderate but slowly. The new information isn’t likely to moderate Fed officials’ hawkishness, though, and doesn’t much change the economic outlook. We continue to see a soft landing with disinflation as the Fed continues to raise the federal funds rate to 5.10%, then keeps it there through year-end. So the stock-market implications of the CPI results are minimal. But stocks and bonds might be ready for some consolidation after their runups since October. … Also: Melissa homes in on why home prices have been holding up and looks at housing market trends.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 13.

Markets
Markets Come to Grips With the Fed on Interest Rates | W
Morgan Stanley Picks Tricky Moment to Bolster ESG Lineup | B
Booming Oil Exports Boost U.S. Role as Global Price Maker | W

Central banks
Lael Brainard’s Fed Departure Could Leave Immediate Imprint on Inflation Fight | W
Stan the Man | FT

US I
Retail sales jump 3% in January, smashing expectations despite inflation increase | C
US Retail Sales in January Rose by Most in Nearly Two Years | B
Opinion | Why the U.S. economy is too good to be true | WP

US II
Remote work pushes Los Angeles landlord to default on major loans | Fortune
Mortgage demand drops as interest rates bounce higher | C
Workers Burnout Rates Hit Pandemic High Amid Layoff Fears, RTO Pressure | B
Laid-Off Tech Workers Seek Leverage on the Way Out | W
US Economic Data Threatened by Survey Non-Responses | B

US III
Nikki Haley’s ‘Great Day’ | W
Why I’m Resigning as an FTC Commissioner | W

Flying objects
China Warns of Retaliation Against US Entities After Balloon Shootdown | B
China-US Spy Balloon Latest: Pentagon Isn’t Ready for Challenge | B
Flying Objects’ Origins Remain Uncertain as Debris Recovery Continues | W

Geopolitics & trade
Ukraine, IMF Begin Loan Talks as Country’s Economic Woes Deepen | W
Russia Has Deployed 97% of Army in Ukraine but Is Struggling to Advance, U.K. Says | W
Influence Networks in Russia Misled European Users, TikTok Says | N

Industries & companies
Autos: Tesla commits to open 7,500 chargers in the U.S. to other EVs | C
Financials: Goldman Sachs scraps idea for direct-to-consumer credit card | C
Media: Lawmakers set their sights on new protections for kids online | C
Retail: It’s impossible to know what you’re buying online | The Atlantic

Climate
The Climate Scare Narrative Continues To Collapse | I&I
Wake up, America: Your economic citadel is driving you to oblivion | The Hill

February 14 (Tuesday)

Latest Morning Briefing Executive Summary: Guides to Inflation & the Economy
How investors interpret this morning’s CPI release for January could move the markets; but assessing what the data say about inflation’s stickiness may be tricky given BLS’s new CPI calculation methodology. All eyes will be on services inflation in particular since it hasn’t yet peaked, buoyed by wage inflation. … The long-running hard-vs-soft-landing economic debate now includes a no-landing prospect, which itself has two scenarios—an inflationary version (possibly the long route to a hard landing?) and a disinflationary one. The latter would be ideal, and we think it’s possible. … Also: The economies of Europe and China both dodged bullets this winter, to widespread surprise.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 13.

Markets
Investors Pour Into Chinese Stock Funds in Reopening Bet | W

Central banks
Fed officials keep options open on peak interest rate | R
ECB Could Raise Rates Above 3.5%, Hold Them There, Official Says | W
Kazuo Ueda, Tapped as Bank of Japan Chief, Is Seen as Pragmatic Insider | W

US
Inflation Proves Stubborn in January | W
Inflation Report Keeps Fed on Track to Continue Rate Increases | W
Annual Inflation Cooled Slightly in January as Pace of Moderation Levels Off | W
Rents push up U.S. consumer prices; inflation gradually cooling | R
Here’s the breakdown of the inflation report for January — in one chart | C
How Nikki Haley Went From Tea-Party Favorite to Governor to Trump 2024 Challenger | W
Nikki Haley takes on Donald Trump for 2024 U.S. Republican nomination | R
Why Republican hardliners can afford to say no to U.S. debt ceiling increase | R
Biden Reshapes Economic Team Ahead of Debt-Ceiling Fight, Re-Election Campaign | W

Flying objects
Pentagon’s Unidentified-Object Office Is Underfunded, Senators Say | W
Chinese Balloon and Mystery Objects Raise Question of Who Controls ‘Near Space’ | W
US, China spy balloon drama is drifting into supply chain politics | C

Geopolitics & trade
TikTok’s Talks With U.S. Have an Unofficial Player: China | W

Industries & companies
Aerospace: Air India seals record order for almost 500 Airbus, Boeing jets | R
Airlines: Why Planes Were Grounded for the First Time Since 9/11 | W
Autos: Ford halts F-150 Lightning production due to possible battery issue | C

February 13 (Monday)

Latest Morning Briefing Executive Summary: Financial Conditions
Perversely, the financial markets’ vote of confidence in the Fed’s ability to subdue inflation without getting the economy into trouble represents a threat to those very efforts, in Fed officials’ eyes, loosening financial conditions as the Fed tightens them. So Fed officials have been trying to squelch investor optimism. … A close look at the data relevant to financial conditions reveals them as tight, but in a good way—tight enough to bring inflation down without a recession but not tight enough to provoke a credit crunch that results in a recession. We continue to stand behind our disinflationary soft-landing forecast. … Also: Dr. Ed reviews the film “Mr. Jones” (+ + +).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 6.

Markets
Oil falls on demand fears as Fed ‘make or break moment’ approaches | R
Analysts see short-term strength, long-term ‘generational shift’ in copper prices | C
6 European Stocks That Could Gain From the Dollar’s Reversal | BR

Central banks
Japan Says Sayonara to Idea of Central Banker as Rescue Hero | W

US
Hard or Soft Landing? Some Economists See Neither if Growth Accelerates | W
Inflation Is Falling, and Where It Lands Depends on These Three Things | W
Here’s where the jobs will be during the rolling recessions | C
Social Security full retirement age shouldn’t go higher, experts say | C
Rethinking Retirement Savings in Light of Longer Life Spans | BR
High Healthcare Costs Are a Challenge, Even for Healthy Seniors | BR

Europe
Europe should not respond to America’s subsidies binge with its own blunders | E
Europe’s spend on energy crisis nears 800 billion euros | R

China
China’s ultra-fast economic recovery | E

Japan
Japanese workers are seeking higher wages overseas | E

Flying objects
How China’s balloon sent the U.S. on a hunt for flying objects | R
Cold-war lessons from China’s spy balloon | E
U.S. shoots down a fourth high-altitude object as lawmakers demand more information | C
China Says U.S. Flew Balloons Through Its Airspace More Than 10 Times | W

Geopolitics & trade
Analysis: Loans to Russian soldiers fuel calls for European banks to quit | R

Industries & companies
Energy: Chevron Weighs Extending CEO Mike Wirth Past Mandatory Retirement Age | W
Media: What will TV be like in three years? Insiders predict future | C
Movie theaters: Movie theaters get creative with concessions | C

Technology
ChatGPT Isn’t That Smart. Let’s Stop Pretending. | BR
The battle for internet search | E
UK semiconductor strategy: Chip firms threaten to move overseas | C
Why internet passkeys may soon replace your passwords | C

Crypto
Regulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin | W

Beyond markets
Super Bowl ads 2023: Watch the commercials you missed | C
The One Personality Trait Crucial to Creating Effective Teams | W
How to promote academic freedom in America | E
A television show about Jesus Christ has become an unlikely hit | E

February 11 (Saturday)

Latest Morning Briefing Executive Summary: Financials, Cruise Lines & AI Search
The stock market’s strength since October has been a beckoning beacon for the capital markets: IPOs have revived, bond markets have calmed, and bond issuance has picked up. It may be halcyon days for the capital markets if investors in the shares of alternative fund managers are correct. These bellwethers of capital markets activity have outperformed the S&P 500 dramatically since September. … Also: Consumers are spending on travel again—sparking earnings recoveries for Royal Caribbean and the S&P 500 Hotels, Resorts & Cruise Lines industry generally. … And: AI is poised to transform search, but market dominance may be up for grabs.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 6.

Markets
S&P 500 Turns In Worst Week So Far This Year | W
Why Investors Are Piling Into Funds That Promise Not to Beat the Stock Market | W
Russia to Cut Oil Output in Response to Western Sanctions, Pushing Up Prices | W

Central banks
The Federal Reserve must back off interest rate hikes | MSNBC
Fed’s Harker says small rate hikes on table, opens door to cuts next year | R

US
What’s happening with home prices as mortgage rates fall | C
For Remote Workers, These U.S. Cities Are Great Places to Live | W
Overpacking, shrinkflation may affect your Valentine’s Day gifts | C
U.S. posts $39 billion January deficit after pension fund bailout | R
Fed’s Inflation Fight Pushes Up Cost of U.S. Debt | W
IRS issues state rebate guidance for taxpayers urged to delay filing | C
 
Layoffs
Where Are Layoffs Declining the Most? States Near the Nation’s Capital | W
Tech Layoffs Hit H1B Visa Workers Hard | W
Yahoo to Lay Off 20% of Workforce | W

China
China’s Sany Heavy Industry moves closer to Frankfurt listing | R

Europe
French Protests Against Macron Expected to Draw Hundreds of Thousands | W

Geopolitics & trade
U.S. shoots down second ‘high altitude object’ days after Chinese spy balloon | C
U.S. Blacklists Chinese Companies It Links to Balloon Program | W
U.S. Poised to Further Tighten Technology Exports to China After Balloon Incident | W

Industries & companies
Financials: Risk Panel Discusses Possibility of New Rules for Nonbanks | W
Media: Amazon is the latest threat to Facebook as ad targeting suffers | C
Movie theaters: AMC’s new plan: Get used to paying more money for better movie tickets – Vox
Retail: Clothing Companies Lean on Retailers to Help Ease Inventory Glut | W

Technology
The AI Boom That Could Make Google and Microsoft Even More Powerful | W

Crypto
After ‘Crypto Bowl,’ Super Bowl LVII Will Be a Crypto Bust | W
What investors need to know about crypto ‘staking’ | C

February 10 (Friday)

Latest Morning Briefing Executive Summary: Financials, Cruise Lines & AI Search
The stock market’s strength since October has been a beckoning beacon for the capital markets: IPOs have revived, bond markets have calmed, and bond issuance has picked up. It may be halcyon days for the capital markets if investors in the shares of alternative fund managers are correct. These bellwethers of capital markets activity have outperformed the S&P 500 dramatically since September. … Also: Consumers are spending on travel again—sparking earnings recoveries for Royal Caribbean and the S&P 500 Hotels, Resorts & Cruise Lines industry generally. … And: AI is poised to transform search, but market dominance may be up for grabs.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 6.

Energy
Russia to Cut Oil Production in Retaliation for West’s Sanctions | B
Russia Tries Another Shot With the Energy Weapon | B
Russia to cut oil output by 500,000 bpd in March | R
OPEC+ Won’t Boost Oil Supply as Russia Cuts, Delegates Say | B
Oil prices rise after Russia says it will cut output | C
Analysis: Oil rebound more likely this year, $100 a barrel possible, OPEC sources say | R
Why Energy Bills Are So High Right Now Around the World | B

US
Recession alarm bells are ringing, but (much) less loudly than before | R
Joe Biden’s billionaire tax is dead on arrival | C
Biden’s student loan forgiveness most needed by Black Americans | C

Layoffs
Yahoo layoffs: Company to cut 20% off staff by year-end | C

Europe
Meloni: Italy does not seek ‘pat on the back’ from Europe | R

China
In aging China, a call for ‘bold’ steps to cut cost of having babies | R
 
Geopolitics & trade
China says proposed U.S. ban on Chinese buying U.S. property violates market rules | R

Industries & companies
Autos: Jeep Wrangler SUV at $115,000 is most expensive ever | C
Financials: Goldman’s Last Key Consumer-Banking Hire Nahar Exits Loss-Making Group | B
Media: Fox Turns Down $2B Offer to Buy Tubi on Multi-Billion Dollar Potential | B
Media: Bob Iger signals Disney Hulu strategy shift | C
Retail: Adidas shares tank after company issues warning of unsold Yeezy stock | C

Corporate finance
Kroger and Albertsons zero in on store divestitures amid deal review -sources | R

Crypto
Ether losses build as crypto investors weigh the future of staking | C

Climate
El Nino: Earth could overshoot 1.5 degrees for the first time in 2024 | C

Beyond markets
The Covid emergency in the U.S. ends May 11. HHS officials say here’s what to expect | C
The Latest Megatrend Might Be in Your Backyard | InvestorPlace

February 09 (Thursday)

Latest Morning Briefing Executive Summary: Financials, Cruise Lines & AI Search
The stock market’s strength since October has been a beckoning beacon for the capital markets: IPOs have revived, bond markets have calmed, and bond issuance has picked up. It may be halcyon days for the capital markets if investors in the shares of alternative fund managers are correct. These bellwethers of capital markets activity have outperformed the S&P 500 dramatically since September. … Also: Consumers are spending on travel again—sparking earnings recoveries for Royal Caribbean and the S&P 500 Hotels, Resorts & Cruise Lines industry generally. … And: AI is poised to transform search, but market dominance may be up for grabs.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 6.

Markets
The Dow Industrials Are Sitting Out the Stock Market’s Wild Ride | W

Central banks
Used-Car Market in US: Surprise Price Jump Adds to Fed’s Inflation Worries | B

US
New White House Wage Data Show Slowing Pressure on ‘Supercore’ Inflation | W
Some $191 Billion in Pandemic Payments May Have Been Improper, Labor Inspector General Says | W
Manhattan rents hit record high in January | C

Industries & companies
Airlines: Southwest Airlines Executive to Tell Congress ‘We Messed Up’ in Holiday Meltdown | W
Financials: The Atlanta Billionaire Behind Goldman’s Latest Consumer-Lending Push | W
Media: Disney Plans to Cut 7,000 Jobs, $5.5 Billion in Costs | W

Corporate finance
Pfizer, Novartis, Merck Executives Say They Are Hunting for Deals Again | W

Geopolitics & trade
Spy balloon confirms ‘pattern of Chinese behavior’ that poses threat to NATO members, Stoltenberg says | C
U.S.-China Tensions Are High. So Is Commerce Between the Nations. | W
Senate Republicans Demand Answers on Handling of Suspected Chinese Spy Balloon | W

Technology
How dangerous is AI? Regulate it before it’s too late | The Hill

Beyond markets
Awful Stock Market Analysts, Wall Street Economists Are Costing Investors Money | ampproject.org
The CDC grossly exaggerated the evidence for mask mandates | P
Rarely Has It Been So Easy To Be A Star At Work | W

February 08 (Wednesday)

Latest Morning Briefing Executive Summary: The Third & Fourth Scenarios
Strong economic releases last week raise new uncertainties for financial markets. No longer is the economic debate limited to the hard-or-soft-landing question. Two no-landing scenarios are in the running now—one bearish for stocks (if inflation can’t be controlled) and one bullish (if inflation moderates). We still forecast a soft landing with moderating inflation, which would be bullish. Minneapolis Fed President Neel Kashkari seems to be concerned about the inflationary-no-landing scenario. … Also: Fixed-income markets have sent interest rates higher in response to the robust economic data. … And: A look at the European Central Bank’s tightening course ahead.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 6.

Markets
Stocks Close Higher After Powell Remarks | W

Central banks
Fed’s Jerome Powell Braces for Longer Inflation Fight Amid Hiring Surge | W
Fed’s Powell Says Further Rate Hikes Needed Amid ‘Strong’ US Labor Market | B
Fed Chair Powell says inflation is starting to ease, but interest rates still likely to rise | C
Powell: A “couple of years” before Fed nears end of balance sheet decline | R

Energy
Lost Russian oil revenue is bonanza for shippers, refiners | R

US
Wholesale egg prices have ‘collapsed’ from record highs in December | C
Ex-Goldman Exec’s Top Housing Market Predictions for 2023 | B
Biden Calls Putin’s Ukraine Invasion ‘Test for the Ages’ in State of the Union | B

Europe
European Officials Push for Joint Effort With U.S. on Green-Technology Minerals | W

Geopolitics & trade
China declined U.S. request for call between defense chiefs after balloon shootdown | R
China Refused U.S. Call After Downing of Suspected Spy Balloon, Pentagon Says | W

Technology
Microsoft will offer ChatGPT tech for companies to customize: source | C

Climate
Inflation Reduction Act: Which states have most new green jobs so far? | C
Facebook co-founder Moskovitz funds sunlight reflection research | C

February 07 (Tuesday)

Latest Morning Briefing Executive Summary: Earnings & Valuation
While earnings recessions usually don’t occur without economic recessions, recent data suggest a possible decoupling. Analysts have been lowering their earnings estimates, and a recession in forward earnings could occur if forward margins decline faster than forward revenues grow. Yet we see no recession ahead in the broad economy—or in earnings—but a soft landing, with real GDP growth approximating 1.0% during the first half of this year and 2.0% during the second half. … Also: Valuations have been rebounding across the board for S&P indexes since October 12, surprisingly so for the S&P 500 and its Value index. Comparatively low valuations in overseas stock markets have begun luring global investors.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 6.

Markets
Are markets right in expecting an ‘immaculate disinflation’? | The Hill

Central banks
Fed’s Jerome Powell Says Hiring Surge Shows Why Inflation Fight Could Be Difficult | W
Fed’s Powell says job strength shows inflation fight may last ‘quite a bit of time’ | R
Fed Chair Powell says inflation is starting to ease, but interest rates still likely to rise | C
Fed’s Neel Kashkari says central bank has not made enough progress, keeping his rate outlook | C

US I
It’s time to chill with all the recession talk | NN
Home-Buying Companies Stuck With Hundreds of Houses as Demand Slows | W
January used vehicle prices pop, according to Cox’s Manheim index | C
U.S. Business Owners Pay Premium to Hire Migrant Workers in Extremely Tight Labor Market | W
Households Burn Through What’s Left of Their Pandemic Savings | W

US II
Biden’s utter ‘no negotiations’ debt limit hypocrisy | P
Biden to Tout Economic Gains in State of the Union | W
The Continued Wrecking of New York City | Brownstone Institute
Will Home Prices Fall? NYC Suburbs Show Real Estate Demand Is High | B

Japan
Japan Ends Multibillion-Dollar Bid to Enter Passenger-Jet Market | W

Geopolitics & trade
U.S. Trade Deficit Hit Record in 2022 | W
U.S. seeks Chinese balloon remnants, says approach to China will stay calm | R
China spy balloon: New photos show the U.S. Navy recovering downed aircraft off U.S. coast | C

Industries & companies
Energy: BP Slows Transition to Renewable Energy as Oil Bonanza Continues | W
Tech: Zoom layoffs: Company to cut 1,300 employees | C

Technology
Commerce Officials to Detail Chips Act Application Process This Month | W

Beyond markets
Ransomware outbreak hits Florida Supreme Court, U.S. and European universities | R
The Blurred Lines Between Goldman C.E.O.’s Day Job and His D.J. Gig | N