Dr. Ed's Blog

May 24 (Tuesday)

Latest Morning Briefing Executive Summary: Bear Anatomy
History and data offer perspective into what a prospective bear market in the S&P 500 may mean for investors. Today, we examine the past two bear markets’ longevity, quantify the index’s valuation slide to date from its peak, compare component indexes’ performances, and see how much better global stock markets have been faring. … Also: Rapidly rising rent inflation will offset some of the improvement we expect in several other categories of consumer prices. Perversely, the Fed is putting upward pressure on rents by reducing the affordability of buying homes.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 23.

Markets
Stock Market Ends Higher After Flirting With Bear Market | W
S&P 500 rises more than 1%, Dow adds 600 points as stocks try to recover from sharp sell-off | C

Central banks
Lagarde Signals End to ECB’s Negative Interest Rates Experiment | W
What Is the Federal Reserve’s Role in the Economy? Bernanke Knows. | N

Global & food
Egypt’s Bread Crisis Awakens Old Fears of Political Unrest | W

US
Biden Exploring Release of Diesel Fuel Reserves Amid High Prices | W
Americans Reported Strong Personal Finances Late Last Year, Fed Finds | W
Bank balances surged during Covid even as pandemic-era stimulus ended, BofA CEO says | C
JPMorgan Says U.S. Consumers Are Doing Just Fine | W
The Average Age of Vehicles on U.S. Roadways Hits a Record 12.2 Years | W

Geopolitics & trade
EU oil embargo ‘in days’ as Ukraine isolation drives Russia closer to China | R
U.S. still ‘a ways away’ from sending troops back into Ukraine -general | R
Analysis: Biden’s Taiwan remarks show conviction to defend island but carry risks | R
Biden Says U.S. Would Intervene Militarily if China Invaded Taiwan | W
Kissinger says Taiwan cannot be at the core of U.S.-China negotiations | C

Industries & companies
Communications Services: Hello? Hello? Is This Facebook? Anybody There? (Nope.) | W

Corporate finance
Broadcom in Talks to Pay About $60 Billion for VMware | W

Climate & viruses
A Shell contractor quits because of the oil giant’s hypocrisy on climate change | Vox
Pfizer/BioNTech say 3 COVID shots elicit good response in children under 5 | R
Monkeypox explainer: Spread, symptoms, risk—how is this happening?! | Slate
Photos: Bangladesh and India endure catastrophic floods | C

May 23 (Monday)

Latest Morning Briefing Executive Summary: Bear Spray
Today, we zero in on stock market bears—why they’ve been wrong for 13 years (quantitative easing), why they’re right currently (quantitative tightening), and why we believe their outlook is too pessimistic. … Primarily, we don’t expect an imminent recession because conditions aren’t ripe for a credit crunch. Additionally, the recent tech stock weakness is no Tech Wreck 2.0; inflation, looking peakish already, won’t prove intractable; and wage pressures are stoking an economy-boosting productivity boom. … We stand behind our “Roaring 2020s” scenario following a brief interlude in the 1970s. … We’ll be taking bear spray to Yellowstone. … Finally, Dr Ed reviews “Downton Abbey.”
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 16.

Markets
Stock Market Bottom Remains Elusive Despite Deepening Decline | W
Deglobalization Would Be Bad for Equities. But It’s Not Here Yet. | BR
An Options Strategy Tailor-Made for a Tough Market | BR
The Debt Time Bomb Facing Closed-End Funds | BR

Global
The coming food catastrophe | May 21st 2022 | E

Central banks
Higher Rates Raise Risk of Future Fed Losses | W

US
Rising Risk of Recession Creates New Headache for Biden | W
Inflation is rising, but fans are paying for NBA, NFL, other sports tickets | C
Small Businesses Lose Confidence in U.S. Economy | W
In Battle for Workers, Companies Build Houses | W
Georgia Governor Race Is a Test for Trump. It Isn’t Going Well. | W

China
China’s Markets Are Tested by Foreign Outflows and a Falling Currency | W
Foreign investors are fleeing China | E
Is China “uninvestible”? | E
China Spends Far More Than Others to Help Favored Industries, Report Finds | W

Industries & companies
Pharma: Drugmakers propose swift pandemic response benefiting poorer countries | R

Geopolitics & trade I
Ukraine rejects concessions as Russians attack in east and south | R
Poland’s President Addresses Ukraine’s Parliament, Calls for Removal of All Russian Troops | W
Pentagon Weighs Deploying Special Forces to Guard Kyiv Embassy | W
The Putin Show | E

Geopolitics & trade II
Biden says ‘hello’ to North Korea’s Kim amid tensions over weapons tests | R
Biden Says U.S. Is Prepared if North Korea Conducts Missile Test | W
Why Turkey is blocking bids by Sweden and Finland to join NATO | E
Israeli Prime Minister Naftali Bennett Avoids Government Collapse | W

Corporate finance
Elon Musk’s SpaceX looks to raise $1.7 billion in new funding | C

Beyond markets
Explainer: Monkeypox – How concerned should we be? | R
Another baby formula shipment from Europe to arrive in the U.S. on Wednesday | C

May 21 (Saturday)

Latest Morning Briefing Executive Summary: Retailers, Materials & Fintech
First the good news: Retail sales rose solidly in both March and April. Now the bad news: Two retail giants missed their Q1 earnings marks, causing recession-fearing investors to jettison their stocks. Jackie recaps what their management teams had to say about the quarter. … Also: With recession fears running high among investors, why is the S&P 500 Materials sector in their good graces? It has outperformed the market and most other sectors ytd. Within Materials, we focus on one industry with a shiny outlook, Steel, and a single member, Nucor. … Also: A look at Walmart’s foray into fintech.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 16.

Markets
Nasdaq records first seven week losing streak since 2002 | C
Big Tech Is Getting Clobbered on Wall Street. It’s a Good Time for Them. | N
Stocks close flat in wild session Friday that saw the S&P 500 briefly fall into a bear market | C
Recession Trade Is On as Market Pain Spreads Beyond Tech | W
Oil settles up as supply risks outweigh economic worries | R

Central banks
China’s Central Bank Makes Unexpected Rate Cut as Growth Crumbles | W
 
US
Recession is ‘likely,’ former SEC chief economist says | C

Europe
Germany Warns Falling Euro Could Push Inflation Even Higher | W

Geopolitics & trade
Siege ends at Ukraine’s Mariupol steelworks, Russia seeks control of Donbas | R
Biden and S.Korea’s Yoon set to discuss nuclear cooperation, N.Korea | R

Industries & companies
Autos: Hyundai to invest $5.5 billion to build EVs and batteries in Georgia | C
Consumer: Does Your Mayo Need a Mission Statement? | W
Retail: Old Navy Made Clothing Sizes for Everyone. It Backfired. | W

Corporate finance
You bought. They sold. Meet some of the insiders who unloaded $35 billion in stock amid the tech IPO bonanza before it tanked. | MW

Beyond markets
Covid: CDC urges older Americans to get booster shots as hospitalizations soar | C
WHO confirms 80 cases of monkeypox with outbreaks in 11 countries | C
Mysterious Hepatitis Outbreak in Children Spurs Global Race for Answers | W
Why the Baby-Formula Market Is a Mess: Low Competition, High Regulation | W

May 20 (Friday)

Latest Morning Briefing Executive Summary: Retailers, Materials & Fintech
First the good news: Retail sales rose solidly in both March and April. Now the bad news: Two retail giants missed their Q1 earnings marks, causing recession-fearing investors to jettison their stocks. Jackie recaps what their management teams had to say about the quarter. … Also: With recession fears running high among investors, why is the S&P 500 Materials sector in their good graces? It has outperformed the market and most other sectors ytd. Within Materials, we focus on one industry with a shiny outlook, Steel, and a single member, Nucor. … Also: A look at Walmart’s foray into fintech.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 16.

Markets
Stock Markets Finish Volatile Session Lower as S&P 500 Extends Decline | W
Stock Market Is Top-Heavy, but Carnage Is Widespread | W
Jeremy Grantham Predicts Stock-Market Crash, Recession, Inflation Woes | BI
World stocks slide as growth fears persist, safe-havens gain | R
Oil steady as economic worries offset possible China demand rise | R

Central banks
Year-end view for Fed policy rate rises again as recession risks remain | R

Global & food
The coming food catastrophe | E
Column: Global soy crop outlooks are aggressive, maybe too much so | R

US
Existing home sales fell in April to lowest level since start of pandemic | C
U.S. Home Sales Cool Amid Higher Rates, Record Prices | W
Gas Prices Hit New Highs Again With All 50 States Above $4 a Gallon | W
Biden’s road to record-high gas prices may lead to rationing | P
More Subprime Borrowers Are Missing Loan Payments | W
Senate Passes $40 Billion Aid Package for Ukraine | W

China
China’s zero-COVID policy dashes global hopes for quick economic return to normal | R

Geopolitics & trade
‘Hell’ in Ukraine’s Donbas as Russia piles on pressure, warns Zelenskiy | R
Europe’s Natural-Gas Buyers Defuse Standoff With Kremlin Over Ruble Payments | W
China Insists Party Elites Shed Overseas Assets, Eyeing Western Sanctions on Russia | W
 
Industries & companies
Retail: Investors jolted as U.S. retailers show inflation hitting consumers | R

Virus
Covid kids shots: CDC panel recommends Pfizer booster for children ages 5 to 11 | C

Climate
Explainer: Why is India facing its worst power crisis in over six years? | R
Oceans reached record heat, acidity in 2021: UN report | C

Beyond markets
Baby-Formula Shortage Leaves Families Desperate, Prompting WIC Program Revamp | W
Luna, Terra Collapse Reveal Crypto Price Volatility | B

May 19 (Thursday)

Latest Morning Briefing Executive Summary: Retailers, Materials & Fintech
First the good news: Retail sales rose solidly in both March and April. Now the bad news: Two retail giants missed their Q1 earnings marks, causing recession-fearing investors to jettison their stocks. Jackie recaps what their management teams had to say about the quarter. … Also: With recession fears running high among investors, why is the S&P 500 Materials sector in their good graces? It has outperformed the market and most other sectors ytd. Within Materials, we focus on one industry with a shiny outlook, Steel, and a single member, Nucor. … Also: A look at Walmart’s foray into fintech.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 16.

Markets
Dow Slides More Than 1,100 Points in Worst Day Since 2020 | W
U.S. bonds: Treasury yields fall, prices rise as investors huddle in bonds for safety amid stock sell-off | C
Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury | R
Elon Musk Calls ESG ‘An Outrageous Scam’ After Tesla Was Removed From Index | W

Energy
European Union Sets Out Plan to End Russian Energy Imports | W

Central banks
Fed policymakers map out shift to ‘measured’ hikes | R
Senior Chinese Central Banker Is Probed for Corruption | W

Global & food
High Inflation, Slowing Growth Raise Risk of Global Downturn | W
Countries banning food exports amid rising prices, inflation | C
World Bank to offer $30 bln as Ukraine war threatens food security | R

US
Biden Invokes the Defense Production Act to Increase Baby-Formula Supply | W

Industries & companies
Retail: Target, Walmart Earnings Selloff Puts Retailers’ Inflation Pains on Display | W
Retail: What Walmart, Target, Home Depot and Lowe’s tell us about the economy | C
            
Geopolitics & trade
EU Proposes Up to $9.5 Billion in Short-Term Funding for Ukraine | W
Biden, on a First Trip to Asia, Tries to Refocus on China Amid Ukraine War | W

Crypto
How a Trash-Talking Crypto Founder Caused a $40 Billion Crash | N

Covid
Latest Covid-19 Wave Expands to More of U.S. | W
As COVID cases rise, U.S. health officials mull widening additional booster eligibility | R
Latest Covid-19 Wave Expands to More of U.S. | W
New York Times Puts Return-to-Office Plans on Hold as Covid Cases Rise | W

Beyond markets
Climate change made India heat wave 100 time more likely | C

May 18 (Wednesday)

Latest Morning Briefing Executive Summary: Run(off) for the Hills?
It begins next month: the Fed’s plan to let its maturing securities run off its balance sheet without replacing them—a.k.a. quantitative tightening (QT). How right are investors to be freaked out? How legitimate are their suspicions that the Fed is erring on the side of overkill after having lost ground in the fight against inflation? … Today, we separate the fears from the facts and assess the likely impacts for the federal deficit, fixed-income markets, the stock market, and the economy. … Also: We lay out the runoff plan, review the last QT episode for insights, and put investors’ fears into perspective.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 16.

Markets
Stock Selloff Crunches SPAC Creators as They Race to Find Deals | W

Energy
EU makes plans to tackle energy price spikes, any Russian gas cut-off | R
EU unveils escape route from Russian fossil fuels by 2027 | R
How Germany Is Racing to Sever Dependence on Russian Energy | W
U.S. Floats Tariff on Russian Oil as EU Oil-Sanction Talks Drag On | W
U.S. Allows Chevron to Maintain Venezuela Operations but Won’t Permit Drilling | W

Central banks
Powell says the Fed will not hesitate to keep raising rates until inflation comes down | C
Powell Says Fed Has Resolve to Bring U.S. Inflation Down | W

Global
Countries banning food exports amid rising prices, inflation | C

US
U.S. Retail Sales Grew 0.9% in April | W
Weekly mortgage demand from homebuyers tumbles 12% | C
House Plans Vote on Baby Formula Legislation Wednesday | W

Europe
UK inflation hits 40-year high of 9.0%, squeezing households harder | R

China
Goldman Sachs cuts its China GDP forecast on Covid controls | C
China’s New Home Prices Fall for the First Time in More Than Six Years | W
China is second-biggest bitcoin mining hub as miners go underground | C
China Eastern Black Box Points to Intentional Nosedive | W

Geopolitics & trade
Finland, Sweden Apply for NATO Membership, Breaking Decades of Neutrality | W
Russia says nearly 700 more Mariupol fighters surrender | R
Russia Weighs Fate of Ukrainian Defenders in Mariupol | W
Russia military veteran Khodaryonok in damning assessment of Ukraine war | C
As inflation slows and ruble rallies, Russia is hoping to avoid a crisis | C

Industries & companies
Financials: JPMorgan investors hand Dimon rare rebuke, object to $53 million bonus | C

Covid
When Africans asked for COVID shots, they didn’t get them. Now they don’t want them | R
North Korean leader Kim slams officials’ ‘immaturity’ in response to COVID outbreak | R

Beyond markets
Mother Sues TikTok After Alleging 10-Year-Old Daughter Died From Doing ‘Blackout Challenge’ | W

May 17 (Tuesday)

Latest Morning Briefing Executive Summary: Run(off) for the Hills?
It begins next month: the Fed’s plan to let its maturing securities run off its balance sheet without replacing them—a.k.a. quantitative tightening (QT). How right are investors to be freaked out? How legitimate are their suspicions that the Fed is erring on the side of overkill after having lost ground in the fight against inflation? … Today, we separate the fears from the facts and assess the likely impacts for the federal deficit, fixed-income markets, the stock market, and the economy. … Also: We lay out the runoff plan, review the last QT episode for insights, and put investors’ fears into perspective.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 16.

Markets
Yields slip, stocks struggle as economic fears grow | R
Oil settles higher on demand optimism, gasoline strength | R
Column: ‘TINA’ still driving hedge funds’ bullish dollar view | R
A $100 Billion Comedown: Soaring Defaults Shrink Asia’s Junk-Bond Market | W

Commodities
Column: European smelter hits mean another year of zinc shortfall | R

US
How to fix our medical supply chain problems | Washington Examiner
White House hits back at Amazon’s Bezos after Biden inflation spat | C

China
China’s Economic Distress Deepens as Lockdowns Drag On | W

Geopolitics & trade
European Foreign Ministers Fail to Sway Hungary on Russian Oil Ban | W
How Putin Drove Finland Into NATO’s Arms | W
Ukrainian force begins evacuating from last Mariupol stronghold | R
​U.S., EU Boost Trade Ties to Remedy Supply Shortages, Counter Russia and China | W
U.N. Seeks to Ease Russian Blockade of Ukraine Grain Shipping to Avert Food Shortages | W
Biden’s Dance With a Latin Dictator | W
Yellen Pushes Polish Prime Minister on International Tax Deal | W

Corporate finance
JetBlue launches hostile takeover bid for Spirit Airlines | C
Musk says lower-price Twitter deal ‘not out of the question:’ report | C

Beyond markets
FDA Eases Baby-Formula Import Rules to Boost Supplies | W
Abbott reaches agreement with FDA to reopen baby formula plant | C

May 16 (Monday)

Latest Morning Briefing Executive Summary: Waiting for Something To Break
After many years of ultra-easy monetary policy, the realization that it’s going away has frightened investors to a degree unprecedented this early in a tightening cycle. The pre-tightening fear alone burst plenty of speculative bubbles, yet no dreaded credit-crunch/recession scenario has materialized. True, the inflation genie isn’t back in the bottle yet, but we expect it will be in coming months and without crashing the economy. … The Fed’s recently released Financial Stability Report was sanguine as well. … But our soft-landing scenario is a contrary one. So we’re keeping our eyes peeled for signs of both the recession that we don’t expect and the peaking of inflation that we do. … Also, we review “Ozark” (+ + +).
(subscribers’ link)

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

Markets
Investors Stay Put, Because They Can’t Think of Better Options | W
Investors could get a reprieve from vicious stock sell-off in week ahead | C
The Stock Market Has Tumbled. The Best Stocks to Buy Now. | BR

Currency & commodities
The Dollar Is Winning in a Messy Global Economy—and That Matters in the Fight Against Inflation | W
Oil giant Aramco reports record first quarter as oil prices soar | C
Three Steel Stocks That Could Soar Even as Production Costs Rise | BR
Soybean Prices Look Set to Decline. That Could Dent Food Costs. | BR

Central banks
The Fed Has Gone From Friend to Foe for Investors. What to Do Now. | BR

US
How Workers Gained Leverage, and Why They Won’t Lose It Soon | BR
Walmart Anticipates a Store Manager Shortage Despite $200,000-a-Year Pay | W
They Signed Contracts for Their Dream Homes Last Year. Now Their Borrowing Costs Are Ballooning. | W
America Needs More Houses | W
CEO Pay Packages Rose to $14.7 Million in 2021, a New High | W
Amazon’s Bezos criticizes Biden admin, says inflation hurts the poor | C
Ex-Goldman CEO says recession possibility is ‘very high risk factor’ | R

Asia
The Indian economy is being rewired. The opportunity is immense | E
Shanghai’s covid-19 lockdown is not even close to over | E

Geopolitics & trade
Battle rages for Ukrainian region of Donbas | R
Nations Aim to Secure Supply Chains by Turning Offshoring Into ‘Friend-Shoring’ | W
Finland will apply for NATO membership, president says | C
NATO expects Turkey not to hold up Finland, Sweden membership | R
Yellen Seeks to Win European Support for a Tax Deal Congress Hasn’t Approved | W
 
Industries & companies
Airlines: U.S. pilot shortage forces airlines to cut flights, scramble for solutions | C
Autos: Ford Unloads Further 7 Million Shares of Electric-Vehicle Startup Rivian | W
Autos: Rivian Recalling 502 Electric Trucks Over Potentially Faulty Air-Bag Sensors | W
Energy: Buy Shell Stock. The Energy Giant Looks Like a Bargain. | BR

Corporate finance
Behind Fake-Account Issue That Elon Musk Cited in Calling Twitter Deal ‘On Hold’ | W
Elon Musk says Twitter legal team told him he violated an NDA | R

Crypto
Panic in the crypto market has Janet Yellen’s attention | NN
How TerraUSD, a Digital Token Designed to be Stable, Fueled a Crypto Crash | BR
 
Beyond markets
Suspect in racist shooting in Buffalo was detained for mental health check last year | R
Baby Formula Shortage Stuns States Including Tennessee, Kansas and Delaware | W

May 14 (Saturday)

Latest Morning Briefing Executive Summary: Tech Wreck, China Syndrome & Crypto Crash
Investors aren’t cutting tech stocks any slack these days. Jackie looks at how the mighty have fallen, with focus on two tech highfliers whose Q1 earnings didn’t make the grade. … The fallout from China’s Covid lockdowns is inflicting damage on sector after sector of the Chinese economy, with no end in sight. The government is stepping in with support programs for businesses and the unemployed. … Also: The innovation once hailed as an inflation hedge has proved to be anything but. Cryptocurrencies have shrunk in recent months to a shadow of their former value. The stocks of companies working in the crypto industry have been clobbered as well. TerraUSD breaks the buck, and investors flee the not-so-stablecoin.
(subscribers’ link)

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

Markets
Stocks Trim Weekly Losses With Friday Gains | W
Investors Face a World Where Stocks No Longer Reign | W
What to Know if You Want to Buy the Stock Market Dip | W
Nasdaq pops 3%, Dow jumps 400 points in comeback rally following steep losses earlier in the week | C

Energy
Oil jumps 4% as U.S. gasoline prices hit record high | R
Record Diesel Prices Pressure European Drivers, U.S. Deliveries | W
Biden Administration Cancels Oil-and-Gas Drilling Leases in Gulf of Mexico, Alaska Coast | W
Exxon challenges California county’s denial of oil trucking permit | R

Central banks
Loretta Mester Says Fed Is On Track for Aggressive Rate Rises | W

US I
‘U.S. consumer is alive and well’ — Affirm CEO says market turbulence has no impact on business | C
Here’s why inflation may be less costly for some retirees | C
Where Did People From the Great Resignation Go? Back to Work. | N

US II
California Gov. Newsom unveils historic $97.5 billion budget surplus | C
Joe Biden asked to replace IRS chief Charles Rettig over tax document destruction | C
BARR: Biden’s ‘Infrastructure’ Bill Contains Backdoor ‘Kill Switch’ For Cars | The Daily Caller

China
China’s Covid Lockdowns Drive Middle-Class Citizens to Go Abroad | W

Geopolitics & trade
Ukrainian forces thwart Russians at river as fight shifts to Donbas | R
How Putin Drove Finland Into NATO’s Arms | W
Simon Schama: when history is weaponised for war | FT
A Ukrainian Boy’s War Diary Tells of Grief: ‘I Cannot Imagine My Life Without Parents.’ | W
 
Industries & companies
Airlines: Airlines press U.S. to lift pre-departure testing requirements | R
Media: Netflix to Employees: If You Don’t Like Our Content, You Can Quit | W
Tech: Is this another tech bubble bursting? | Vox

Technology
Unilever to offer robotic direct-to-consumer ice cream sales | Chain Store Age

Crypto
How More Than $1 Trillion of Crypto Vanished in Just Six Months | W
Regulators anxious about stablecoins like tether after UST collapse | C

Corporate finance
Elon Musk says Twitter deal on hold pending details on fake accounts | C
Elon Musk can’t just walk away from Twitter deal by paying $1 billion | C
 
Beyond markets
U.S. Baby Formula Shortage Leaves Parents Scouring for Supplies | W
Exclusive: Maker of Walmart, Amazon store-brand baby formulas sees shortages through rest of 2022 | R
House to Vote on Easing WIC Rules to Address Baby-Formula Shortage | W
Graduation Is Chaotic This Season. Blame the Supply Chain.  | W

May 13 (Friday)

Latest Morning Briefing Executive Summary: Tech Wreck, China Syndrome & Crypto Crash
Investors aren’t cutting tech stocks any slack these days. Jackie looks at how the mighty have fallen, with focus on two tech highfliers whose Q1 earnings didn’t make the grade. … The fallout from China’s Covid lockdowns is inflicting damage on sector after sector of the Chinese economy, with no end in sight. The government is stepping in with support programs for businesses and the unemployed. … Also: The innovation once hailed as an inflation hedge has proved to be anything but. Cryptocurrencies have shrunk in recent months to a shadow of their former value. The stocks of companies working in the crypto industry have been clobbered as well. TerraUSD breaks the buck, and investors flee the not-so-stablecoin.
(subscribers’ link)

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

Markets
Dow falls for a sixth straight day after another wild session | C
Big Investors Reconsider Oil and Gas Upside as Supplies Remain Tight | W
Oil climbs even as weaker demand concerns cap gains | R
Natural-Gas Prices Soar in Europe After Russia Sanctions Energy Companies | W

Global
China’s Economic Slowdown Is Rippling All Around the World | W
 
Central banks
Powell says he can’t guarantee a ‘soft landing’ as the Fed looks to control inflation | C
Senate Confirms Jerome Powell to Second Term Leading Federal Reserve | W
Federal Reserve Chair Jerome Powell confirmed by Senate for a second term | C

US I
U.S. labor market still tightening; producer price gains moderate | R
Producer Price Gains Slowed in April but Remain Elevated | W
U.S. Jobless Claims Rose to 203,000 Last Week | W
Is It Better to Rent or Buy? What to Do in a Hot Housing Market | W

US II
Inflation Is Headed Lower—but Maybe Not Low Enough | W
What’s more expensive as inflation costs families extra $311 a month | C
What Biden can do to lower inflation but refuses to (nypost.com)
Biden’s stagflation is another blow to millennials | The Week
Biden may need to ‘claw back’ funding for COVID, Jha says | R

Industries & companies
Autos: Electric vehicle stocks surge | C

Geopolitics & trade
Ukrainian Forces Hold the Line in Donbas as Western Heavy Weapons Join the Battle | W
Unvaccinated North Korea Locks Down After Reporting First Local Covid Infection | W

Crypto
Bitcoin (BTC) price falls below $26,000 as crypto sell-off intensifies | C
Crypto meltdown deepens as stablecoin Tether drops below dollar peg | R
Crash of TerraUSD Shakes Crypto. ‘There Was a Run on the Bank.’ | W
How bitcoin detectives at the IRS and FBI are catching crypto crimes | Vox

Corporate finance
SoftBank Lost $13.2 Billion on Tech Investments Amid Selloff | W
 
Beyond markets
Astronomers reveal 1st image of massive black hole at the center of Milky Way | C
Baby Formula Shortage Could Leave Parents Scrambling for Months | W
The Forgotten Stage of Human Progress | The Atlantic