Dr. Ed's Blog

January 23 (Monday)

Latest Morning Briefing Executive Summary: Another Recession Alarm Ahead
Brace yourself for December’s Leading Economic Indicators and Coincident Economic Indicators coming out today. They are likely to trigger another recession alarm. But we still see greater odds of a soft landing (60%) than a hard one (40%). … What can the LEI and CEI tell us about the economy and what can’t they? Today, we discuss their usefulness and limitations. … Also: They aren’t the only economic indicators worth watching. … And: Dr. Ed reviews “The Menu” (+ + +).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 17.

Markets
The Market Still Looks Frothy. Here’s One Way to Hedge Your Bets. | BR
Market Recovery Hinges on Quick Inflation Drop | W
Stocks and Bonds Are Sending Different Messages. One of Them Is Wrong. | BR
The Fed and the Markets Disagree on Wages and Inflation. That’s a Problem. | BR
Toyota, Warner Bros., and 24 More Stocks Barron’s Roundtable Pros Love This Year | BR
The first ETF is 30 years old this week. It launched a revolution in low-cost investing | C

Central banks
Fed Sets Course for Milder Interest-Rate Rise in February | W
The Federal Reserve Is Trimming Its Assets. It’s Not Working. | BR
Japan warns of dire finances as BOJ struggles to contain yields | R

Commodities
Energy CEO thinks natural gas will be around for years to come | C
Copper’s Rally Keeps Rolling Along. China Will Drive the Comeback. | BR
This Steel Maker Is Looking to Defy a Recession. That Could Drive the Stock Higher. | BR

US
Biggest Pay Raises Went to Black Workers, Young People and Low-Wage Earners | W
String of Classified Document Discoveries Seen Tarnishing White House | W
Best real estate markets to buy a home in 2023 | C

China
China’s Property Market Needs to Find Its Footing | BR
China’s Reopening Complicates Global Fight Against Inflation | W

Geopolitics & trade
How Nafta and the USMCA Could Help U.S. Labor Shortages | BR
Apple looking to boost iPhone production in India to 25%: Minister | C

Industries & companies
Communications Services: Google employees scramble for answers after layoffs hit long-tenured | C
Financials: Exclusive: Goldman Sachs to cut asset management investments that weighed on earnings | R
Financials: Bank of America, JPMorgan and other banks reportedly team up on digital wallet to rival Apple Pay | C
Media: Disney’s troubles show how technology has changed the business of culture | E
Media: ‘M3gan’ box office success sets stage for scary good year in horror | C
Tech: Tech Layoffs Unwind Recent Head-Count Growth, Torpedo Long-Shot Projects | W

Beyond markets
Excess deaths are soaring as health-care systems wobble | E
How to sell to the young | E

January 21 (Saturday)

Latest Morning Briefing Executive Summary: Health Care, Going Global & ChatGPT
The S&P 500 Health Care sector sheltered investors from the ravages of last year’s bear market, but it’s been underperforming since the market began to recover in mid-October. Jackie examines why other sectors might be more alluring now and why investors are looking past meager 2023 growth prospects for select health care companies active in M&A. … Also: Why have global stocks begun outperforming US stocks? Fears not materializing in Europe and China are part of the picture, US economic uncertainty and middling earnings growth prospects are another. … And: In a world where AI programs can write like humans, what could go wrong? Plenty.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 17.

Markets
S&P 500 Jumps After Three Days of Losses | W
Stock Faithful Try to Look Past US Bond Market’s Sullen Signals | B
China Stocks: Bullish, Alibaba, Evergrande, Crowded Trade, Xi Jinping, Jack Ma | B
FOMO: The Worst Financial Trait | Collab Fund

Davos
The Ultimate Contrarian Indicator to Start the Year | W

US
JPMorgan Model Shows Recession Odds Fall Sharply Across Markets
U.S. Existing-Home Sales Slid Last Year as Interest Rates Surged | W
Unemployed Americans Find Job Searches Take Longer as Labor Market Cools | W
Life as a 21st-Century Trucker | WIRED

China
China says COVID outbreak has infected 80% of population | R

Industries & companies
Consumer Discretionary: Inside Amazon’s layoffs and the battle for the tech giant’s future – Vox
Communications Services: Google is delaying a portion of employee bonus checks | C
Energy: The Offshore Oil Business Is Gushing Again | W
Financials: Federal Reserve Probes Goldman’s Consumer Business | W
Real estate: Investing in REITs vs. Direct Real Estate | Morningstar

Crypto & NFTs
Feds seize almost $700 million of FTX assets in Sam Bankman-Fried case | C
Crypto Banks Borrow Billions From Home-Loan Banks to Plug Shortfalls | W
Crypto Lender Genesis Files for Bankruptcy, Ensnared by FTX Collapse | W
SBF, Bored Ape Yacht Club, and the Spectacular Hangover After the Art World’s NFT Gold Rush | Vanity Fair

Technology
Digital twins are set for rapid adoption in 2023 | C

Beyond markets
Shining a Light (Literally) on How Much Dictators Manipulate Their Economic Stats | W
Tech Nostalgia: BlackBerrys, Dictaphones and 11 More Things We Miss in 2023 | W

January 20 (Friday)

Latest Morning Briefing Executive Summary: Health Care, Going Global & ChatGPT
The S&P 500 Health Care sector sheltered investors from the ravages of last year’s bear market, but it’s been underperforming since the market began to recover in mid-October. Jackie examines why other sectors might be more alluring now and why investors are looking past meager 2023 growth prospects for select health care companies active in M&A. … Also: Why have global stocks begun outperforming US stocks? Fears not materializing in Europe and China are part of the picture, US economic uncertainty and middling earnings growth prospects are another. … And: In a world where AI programs can write like humans, what could go wrong? Plenty.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 17.

Markets
10 Undervalued Dividend Stocks for 2023 | Morningstar

Central banks
Fed to deliver two 25-basis-point hikes in Q1, followed by long pause | R
Fed Governor Lael Brainard sees high rates ahead even with progress on inflation | C
Fed’s Williams says Fed needs more rate rises to cool inflation | R
Top Fed Officials See Progress on Inflation Fight | W

US
U.S. hits debt limit, Janet Yellen says Treasury taking extraordinary measures | C
Layoffs in tech, media, and finance don’t mean you’re getting laid off, too. | Vox
Capital One scraps 1,100 tech positions – source | R
Even with used car prices falling, buyers paying $7.1K above ‘normal’ | C
 
China
China’s reopening ‘good news’ for growth — but could be inflationary, economists warn at Davos | C
Entrepreneurs Flee China’s Heavy Hand: ‘You Don’t Have to Stay There’ | N
 
Europe
Workers in France Strike Over Macron’s Plan to Raise Retirement Age to 64 | W

Industries & companies
Airlines: FAA contractor unintentionally deleted files before outage that disrupted flights | C
Media: Netflix Co-Founder Reed Hastings Transitions to Chairman Role, With Greg Peters Elevated as Co-CEO | W
Media: Netflix rivals like Disney are comrades in fight against slow growth | C
Pharma: FDA Seeks More Data on Lilly’s Alzheimer’s Drug Candidate | W
Retail: Nordstrom sinks after retailer posts weak holiday sales | C

January 19 (Thursday)

Latest Morning Briefing Executive Summary: Health Care, Going Global & ChatGPT
The S&P 500 Health Care sector sheltered investors from the ravages of last year’s bear market, but it’s been underperforming since the market began to recover in mid-October. Jackie examines why other sectors might be more alluring now and why investors are looking past meager 2023 growth prospects for select health care companies active in M&A. … Also: Why have global stocks begun outperforming US stocks? Fears not materializing in Europe and China are part of the picture, US economic uncertainty and middling earnings growth prospects are another. … And: In a world where AI programs can write like humans, what could go wrong? Plenty.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 17.

Markets
Stocks Fall After Weak Economic Data Revive Recession Fears | W
S&P 500 posts worst day in more than a month, Dow closes 600 points lower | C
Investors are holding near-record levels of cash and may be poised to snap up stocks | C
Oil Demand to Hit Record Level This Year as China Reopens, IEA Says | W
Treasury Rally Intensifies After Signs of Slowing Growth | W

Central banks
Fed policymakers call for further rate hikes to beat inflation | R
Fed’s Beige Book Says Businesses Expect Weak Growth in Months Ahead | W

US
Producer Price Increases Decelerated in December | W

Geopolitics & trade
Berlin Won’t Allow Exports of German Tanks to Ukraine Unless U.S. Sends Its Own | W

Industries & companies
Media: Disney-Peltz proxy fight: Board also light on media experience | C
Media: Marvel movies set to return to China, but Covid could hurt ticket sales | C
Tech: Microsoft to Lay Off 10,000 Workers as Slowdown Hits Software Business | W
Tech: Apple had slower headcount growth than tech peers, no layoffs yet | C

Crypto
Crypto Media Outlet CoinDesk Taps Bankers for Potential Sale | W

Beyond markets
FASB to Expand Use of Accounting Method to More Tax-Credit Investments | W

January 18 (Wednesday)

Latest Morning Briefing Executive Summary: Some Happy Developments
When the equal-weighted S&P 500 price index outperforms the market-cap-weighted one, that signals rising stock market breadth. That’s what’s been happening since October 12, the date that the bear market probably ended. … Also: Wall Street has turned more bullish on prospects for Europe’s economy and stock markets in the wake of two big happy developments there. We’re in the bullish camp. … European economic indicators suggest a budding recovery—with improving energy markets tempering inflation and bolstering industrial production as well as both consumer and business sentiment.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 17.

Markets
10-year Treasury yield tumbles below 3.44% after producer prices decline by more than expected | C

Energy
Oil Demand to Hit Record Level This Year as China Reopens, IEA Says | W
Aramco chief warns of oil supply shortages as Chinese demand to surge | C
Exclusive: Europeans dial down the heating, heed calls to save energy | R

Central banks
Bank of Japan Governor Digs In for Standoff With Markets | W
BOJ defies market bets for policy tweaks, yen tumbles | R
The Fed’s quantitative easing gamble costs taxpayers billions | The Hill

Global
In Davos, Leaders Fret Over Fragmenting Global Economy | W

US I
U.S. Retail Sales Fell 1.1% in December | W
Wholesale prices fell 0.5% in December, much more than expected | C
When will egg prices finally go down? – Vox
The steep plunge in used car prices — what it means, and what’s ahead | CNN Business
Mortgage demand jumps, as interest rates drop to lowest in months | C

US II
America Needs Immigrants to Make Up Worker Shortfall, Labor Secretary Says | W
Tax Season Is Coming, and These Firms Can’t Find Enough Accountants in the U.S. | W
Over 200 millionaires urge Davos elite to up taxes on the ultra-rich | C
Opinion | Will It Be Morning in Joe Biden’s America? | NYT
COVID-19 ‘lockdowns’ were a deadly and costly mistake | Washington Times

China
China’s Shrinking Population Is Deeper Problem Than Slow Growth for Its Economy | W
China’s Xi frets about COVID in rural areas, sees ‘light ahead’ | R

Japan
Jim Grant: Japan is Perhaps the Most Important Risk

Geopolitics & trade
Little-Known Surveillance Program Captures Money Transfers Between U.S. and More Than 20 Countries | W

Industries & companies
Airlines: The Best and Worst Airlines of 2022 | W
Financials: Big Banks Might Face Breakup, Top Regulator Says | W
Financials: Solomon says Goldman took on too much too quickly in consumer business | C
Pharma: Moderna: RSV vaccine effective in preventing disease in older adults | C

Technology
This 22-year-old is trying to save us from ChatGPT before it changes writing forever : Planet Money : NPR

Climate
A suburb outside of Scottsdale, Arizona has had its water shut off due to the drought, in a ‘worst-case scenario’ | yahoo.com
Water Is a Terrible Thing for California to Waste | W
Bank of America CEO says capitalism needs cleaning up with new global ESG rules | C
Climate protest not a crime, Greta Thunberg says after detention | R
Davos 2023: Greta Thunberg to meet IEA chief Birol | R
John Kerry: U.S.-China climate diplomacy could make huge difference | C
Oliver Stone slams environmental movement over actions on nuclear | C

January 17 (Tuesday)

Latest Morning Briefing Executive Summary: Inflation: Persistent, Transitory, or Both?
Consensus economic views seem to be mostly pessimistic. Big bank CEOs are preparing for a mild recession. Americans are skittish about a downturn, most economists project a recession, and lots of investment strategists remain bearish. But not us: We don’t foresee recessions this year in the US, Europe, or China. And we think 2023 will be an up year for the stock market. … Also: Goods inflation is proving transitory. Services is less so, hiked by unusually high rent inflation. And: a closer look at the Fed’s core services ex housing costs CPI. … Dr. Ed’s review of “The Banshees of Inisherin” (+).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 9.

Markets
Bright Start to Year for Bonds Eases Market Pressures | W

Central banks
Central-Bank Digital Currencies Are Coming—Whether Countries Are Ready or Not | W

Global
IMF says fragmentation could cost global economy up to 7% of GDP | C
IMF Warns Unraveling Economic Ties Could Shrink Global Output | W
Globalization Isn’t Dead. But It’s Changing. | W
Richest 1% amassed almost two-thirds of new wealth created since 2020: Oxfam | C

Davos
Davos Latest News: CEOs, Economists Worry Global Recession Looms as Davos Begins | B
Germany’s Scholz only G7 leader set to attend Davos | C
World Economic Forum: Manchin & Sinema attend Davos luncheon with CEOs | C

Energy
Russian gas will eventually return to Europe as nations ‘forgive and forget,’ Qatari energy minister says | C
Analysis: Russia’s falling oil revenues could create vicious circle for budget, rouble | R
Russia’s Energy Clout Is Waning, Weakening Its Global Influence | W
Exxon set to order 5th Guyana oil vessel, sizing up more blocks | R

US
We Have a Too-Much-Federal-Revenue Problem, Not a Looming ‘Debt Crisis’ | FO
The housing revolution brewing in 2023 | The Hill
Opinion | How ChatGPT Hijacks Democracy | N

China
As China reopens and data surprises, economists are starting to get less gloomy | C
China Needs to Own This Economic Recovery | B
Morning Bid: China’s Q4 data dump | R
China should set aside political issues on vaccine imports, CEO says | C

Geopolitics & trade
China’s Wolf Warriors Fall Silent, But Remain Ready When Needed | B
Yellen, Top Chinese Official to Meet, Try to Smooth Economic Ties | W
Saudi Arabia can ‘bridge the gap’ between the U.S. and China, finance minister says | C
Visa, Mastercard May Be Allowed a Share of India’s Online Payments | B
Siemens signs 3 bln eur train deal in India | R
TikTok Tries to Win Allies in the U.S. With More Transparency | W

Industries & companies
Autos: Should I Buy or Lease a Car or Truck in 2023? | B
Autos: EVs Made Up 10% of All New Cars Sold Last Year | W
Retail: Shopper Rebellion Against Higher Prices Helps Slow Inflation | W

Climate
The SEC’s new climate demands won’t fix the climate | P

Crypto
Why is the bitcoin (BTC) price rallying in January 2023? | C
Japan Pushes Global Counterparts to Regulate Crypto Like Banks | B

Beyond markets
LeBron James Becomes 2nd NBA Player to Score 38,000 Career Points | B
Exercise Helps Blunt the Effects of Covid-19, Study Suggests | W

January 16 (Monday)

Latest Morning Briefing Executive Summary: Financials, Materials & Robots
Yes, most banks and brokerages’ Q4 results will be down y/y, but investors already knew that. As long as earnings reports don’t bring much new negative news, the S&P 500 Financials sector’s rebound may continue, buoyed by easy y/y comparisons ahead. … Also: The World Bank‘s global growth forecast for this year is now a grim 1.7%. But you’d never know it from the surge in metals prices and the S&P 500 Materials sector since October. The strong dollar, China’s lockdown unlocking, and Europe’s energy resourcefulness no doubt have helped. … Also: How robots are about to transform farming, EV fueling, and manufacturing productivity.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 9.

Markets
Where Are the Stock Market and Economy Headed? Barron’s Roundtable Pros Weigh In. | BR
BlackRock vs. Goldman in the Fight Over 60/40 | W
Foreign Small-Cap Funds Are Too Cheap to Ignore | BR
The 10-Year Is Back From the Dead. But There’s Still Risk in Long-Term Bonds. | BR
Wall Street’s Leveraged-Loan Machine Breaks Down With Twitter Debt Left Unsold | B
State-run auto-IRA programs continue growing as more options launch | C

Central banks
The Fed: Whose Words Carry the Most Weight | BR

Energy & climate
What Does the War in Ukraine Mean for the Climate? | N
How Russian Oil Is Faring Under Sanctions | BR

US
Despite Easing Price Pressures, Economists in WSJ Survey Still See Recession This Year | W
After a Burst of New Businesses, a Cooling Economy Intrudes | N
GOP flirts with political death by targeting Social Security, Medicare | MSNBC
U.S. to hit debt limit Thursday, Yellen warns Congress | C
More classified documents found at Biden’s Delaware home, White House counsel says | C

China
China, Hong Kong resume high-speed rail link after three years of COVID curbs | R
China set for historic demographic turn, accelerated by COVID traumas | R
Covid news: China reports huge rise in deaths after WHO criticized data | C
China COVID peak to last 2-3 months, hit rural areas next – expert | R

Industries & companies
Autos: What if Tesla Is…Just a Car Company? | W
Media: ‘Based on a True Story’ (Except the Parts That Aren’t) | N
Tech: The most-popular big tech email programs are old and vulnerable | C

Beyond markets
Sweden Says It Has Uncovered a Rare Earth Bonanza | N

January 14 (Saturday)

Latest Morning Briefing Executive Summary: Financials, Materials & Robots
Yes, most banks and brokerages’ Q4 results will be down y/y, but investors already knew that. As long as earnings reports don’t bring much new negative news, the S&P 500 Financials sector’s rebound may continue, buoyed by easy y/y comparisons ahead. … Also: The World Bank‘s global growth forecast for this year is now a grim 1.7%. But you’d never know it from the surge in metals prices and the S&P 500 Materials sector since October. The strong dollar, China’s lockdown unlocking, and Europe’s energy resourcefulness no doubt have helped. … Also: How robots are about to transform farming, EV fueling, and manufacturing productivity.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 9.

Markets
Dow closes 100 points higher, S&P 500 and Nasdaq notch best week since November | C
As Inflation Dies, A New Bull Market Is Emerging | InvestorPlace

US
Workers Lose Ground to Inflation Despite Big Wage Gains | W
Inflation-Weary Americans Find Some Relief as Prices Fall for Dozens of Products | W
U.S. to hit debt limit Thursday, Yellen warns Congress | C
Zero-fare public transit movement gains momentum | C
No, the Biden administration is not coming for your gas stove | usatoday.com
Classified Documents Saga Overshadows White House Push to Tout Biden Record | W

Europe
How Europe Escaped a Looming Energy Crisis | W
Europe’s Mild Winter Cushions Economic Blow of Ukraine War | W

Japan
Japan’s 10-Year Government Bond Yield Breaches New Cap | W

China
China’s Export Decline Deepens, Threatening Growth | W
China reports huge rise in COVID-related deaths after data criticism | R
China Says 60,000 Have Died of Covid Since Controls Were Lifted | W

Geopolitics & trade
Biden, Japan’s Kishida Focus on Boosting Security Cooperation to Counter China | W
U.K. and EU Look to Mend Rift and Resolve Northern Ireland Trade Dispute | W

Industries & companies
Airlines: Opinion | The FAA Meltdown Proves It’s Time to Finally Fix Air Travel | N
Autos: What it’s like to deliver for Amazon in new Rivian electric vans | C
Financials: America’s Biggest Banks Are Girding for a Recession but Aren’t Feeling One Yet | W
Financials: Credit Suisse set to cut 10% of European investment bankers, Financial Times reports | R
Media: YouTube Tests New Hub of Free Streaming Channels | W
Media: A battle between Disney and activist Peltz brews. Here’s how the situation may unfold | C

Technology
Chips Are the New Oil and America Is Spending Billions to Safeguard Its Supply | W

Beyond markets
Pfizer Covid booster likely doesn’t carry seniors’ stroke risk: CDC | C
J&J Slashes Production of Its Unpopular Covid-19 Shot | W

January 13 (Friday)

Latest Morning Briefing Executive Summary: Financials, Materials & Robots
Yes, most banks and brokerages’ Q4 results will be down y/y, but investors already knew that. As long as earnings reports don’t bring much new negative news, the S&P 500 Financials sector’s rebound may continue, buoyed by easy y/y comparisons ahead. … Also: The World Bank‘s global growth forecast for this year is now a grim 1.7%. But you’d never know it from the surge in metals prices and the S&P 500 Materials sector since October. The strong dollar, China’s lockdown unlocking, and Europe’s energy resourcefulness no doubt have helped. … Also: How robots are about to transform farming, EV fueling, and manufacturing productivity.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 9.

Markets
Stocks close higher, Nasdaq clinches fifth day of gains after CPI report shows cooling inflation | C
The Markets Are Locked in a Game of Chicken With the Fed | W

Central banks
Time for the Fed to declare victory on inflation? Not yet | C
Inflation Report Tees Up Likely Quarter-Point Fed Rate Rise in February | W
Fed policymakers signal rate-hike slowdown coming, but no easing | R

Energy
Column: U.S. gas prices slump on production surplus | R

US
U.S. Inflation Slowed for Sixth Straight Month in December | W
December CPI: Prices fell 0.1% reflecting a slowdown for inflation | C
U.S. inflation retreating as consumer prices fall; labor market still tight | R
Here’s the inflation breakdown for December 2022 — in one chart | C
CEOs Say They Expect a U.S. Recession, but Most Think It Will Be Short | W
Federal Deficit Widened to $85 Billion in December | W
Bosses Give Workers Made-up ‘Manager’ Titles To Avoid Paying Overtime: Study | vice.com

China
China’s Precarious Moment: Covid Everywhere and Few Restrictions | W

Retail
Media: Peltz may be overreaching with Disney proxy fight | C
Retail: Home Depot to change pay policy for hourly employees | R
Wireless: It’s Not Just You: 5G Is a Big Letdown | W

Climate
Explainer: Why weeks of rain in California will not end historic drought | R

Crypto
SEC charges Genesis and Gemini with selling unregistered securities | C
Sam Bankman-Fried denies stealing FTX user crypto in new Substack post | C

Beyond markets
U.S. Cancer Death Rate Has Dropped by a Third Since 1991 | W
Child Vaccination Rates Have Dropped, CDC Says | W
Measles: 250,000 kindergarteners are vulnerable due to drop in vaccination rate | C

January 12 (Thursday)

Latest Morning Briefing Executive Summary: Financials, Materials & Robots
Yes, most banks and brokerages’ Q4 results will be down y/y, but investors already knew that. As long as earnings reports don’t bring much new negative news, the S&P 500 Financials sector’s rebound may continue, buoyed by easy y/y comparisons ahead. … Also: The World Bank‘s global growth forecast for this year is now a grim 1.7%. But you’d never know it from the surge in metals prices and the S&P 500 Materials sector since October. The strong dollar, China’s lockdown unlocking, and Europe’s energy resourcefulness no doubt have helped. … Also: How robots are about to transform farming, EV fueling, and manufacturing productivity.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 9.

Markets
Stocks Rise as Investors Focus on Inflation | W
Fed’s No-Rate-Cut Mantra Rejected by Markets Seeing Recession | B

Central banks
Inflation is expected to have declined in December, but it may not be enough to stop the Fed | C

Global
Two global recessions in one decade? That hasn’t happened in over 80 years | NN
Cost-of-Living Crisis Is Top Immediate Risk for Davos Elite | B

US
Forget Core CPI, Market Pros Are Searching for Supercore Inflation | W
Traders Lose Trust in CPI Data Security in Wake of Volume Shock | B
Housing-Market Funk Has Lumber Traders Expecting Rally to Fizzle | B
IRS Still Working Through Last Year’s Returns as This Year’s Tax Season Looms | W

Energy
Why your gas bill might be way higher this winter | Vox
U.S., Allies Prepare Fresh Sanctions on Russian Oil Industry | W
Russian oil revenues falling because of price cap -U.S. official | R

Geopolitics & trade
U.S., Japan Expand Security Cooperation With New Steps to Counter China | W

Industries & companies
Airlines: US Aviation System Meltdown Tied to Corrupted Digital File | B
Airlines: Explainer: Why U.S. flights were grounded by a FAA system outage | R
Retail: Starbucks CEO Howard Schultz tells corporate workers to return to the office 3 days a week | C
Tech: Apple reportedly considering touchscreen Mac laptop for 2025 | C

Covid
Long Covid Study Shows Symptoms Fading for Mild Infections | B
The ‘experts’ who misled us during the COVID-19 pandemic | WT

Crypto
FTX Says It Has Located More Than $5 Billion in Cash, Liquid Assets | W