Dr. Ed's Blog

September 26 (Tuesday)

Latest Morning Briefing Executive Summary: Is Powell’s Path Forward Widening Or Narrowing?
The Fed has paused its rate hiking for now but not without warning that resumed tightening is possible. Either way, monetary policy will be kept restrictive for longer than investors previously expected, Fed Chair Powell has said. What does that scenario imply for the economic outlook? Peaks in the federal funds rate are coincident indicators of financial crises caused by restrictive policy, which often trigger credit crunches and recessions. That’s the big risk of the Fed’s higher-for-longer rate path. … We don’t expect that scenario—we’re in the soft-landing camp—but were it to occur, the highly leveraged commercial real estate market might be the epicenter of the financial crisis.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 18.

Markets
Wall St declines as rate worries keep Treasury yields elevated | R
Bond Traders Roiled by Fed See US Shutdown as Next Big Wild Card | B
$100 Oil Needs Western Drills to Stay Quiet | W

Central banks
The elusive Fed ‘soft landing’ nears. Why are Americans so mad about the economy? | R
Americans Finally Start to Feel the Sting From the Fed’s Rate Hikes | W
Government Shutdown Would Blindfold Fed in Piloting Course on Rates | W

US I
US consumer confidence ebbs in September | R
US Home Prices Rise to Record High as Market Bounces Back | B
US new home sales tumble in August | R
Florida Tops New York as Second-Biggest US Housing Market, Zillow Says | B
How Much Savings Do Americans Have Left, Anyway? | W

US II
US Government Shutdown Looms as House Moderates Try to Keep It Short | B
US Government Shutdown Will Hurt Efforts to Replace Aging Workforce | B

China
China’s Business Environment Is Deteriorating, U.S. Companies Say | W
China powers global aluminium output to record high: Andy Home | R

Industries & companies
Autos: Ford Tried to Sell the Electric Mustang to China the Tesla Way—It Didn’t Work | W
Commercial Real Estate: Commercial Real Estate’s Next Big Headache: Spiraling Insurance Costs | W
Materials: US thermal coal exports jump to 5-year highs on Asian demand: Maguire | R
Media: Taylor Swift’s ‘The Eras Tour’ concert film set for global theatrical release | C
Pharma: The Big Pharma Stock Trade: Weight Loss Is In, Covid-19 Is Out | W
Retail: Organized retail crime and theft not increasing much, NRF study finds | C

Artificial Intelligence
You Can Now Talk With ChatGPT and It Sounds Like a Human (Pretty Much)  | W

September 25 (Monday)

Latest Morning Briefing Executive Summary: Money & Credit: Debatable Points
Some economic prognosticators still believe that a credit crunch and recession are just around the bend. Today, we question two of their main arguments: We don’t believe that falling M2 presages anemic GDP growth; contrary to conventional wisdom, there is no reliable correlation between the two. And we can’t see consumers slamming the brakes on their spending and hobbling the economy; they don’t need to with their net worth at a record high and real disposable income growing. … Also: The inverted yield curve correctly predicted the banking crisis earlier this year, but there has been no credit crunch so far; we are monitoring commercial bank lending stats closely. … And: Dr. Ed reviews “Golda (+ + +).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 18.

Markets
Stock Market Drop Worst Since March. Is It September or Something More Sinister? | BR
Why Are Tech Stocks Down? Bond Yields Are Up | W
Treasuries Extend Selloff, Pushing 10-Year Yield to 16-Year High | B
Higher Rates May Be Here for Awhile. | BR
Wall Street Is Hoping $100 Oil Ain’t What It Used to Be | W

Central banks
Why traders aren’t buying the Fed’s ‘higher-for-longer’ vision | R
Wall Street and the Fed Are Both Wrong on Interest Rates | W
Does China’s fear of floating exceed its fear of deflation? | E
ECB de Galhau: betting on a rate cut now is premature | C
 
US
U.S. Economy Could Withstand One Shock, but Four at Once? | W
Inflation Will Continue Until Morale Improves | W
Why America Has a Long-Term Labor Crisis, in Six Charts | W

Europe
German Auto Makers Are Pouring $406 Billion Into EVs. The Race Is On. | BR

China
China’s Economy Is Bad, but Not as Bad as Some Think | BR
China property stocks tumble amid Evergrande debt restructuring roadblock | C

Geopolitics & trade
What Asia’s economic revolution means for the world | E
China-EU relationship is at a crossroads, trade chief Dombrovskis said | C
China’s claim to the South China Sea gets even odder | E
Huawei’s New Gadgets Reveal Hidden Teeth in China Tech Resistance | W
If India ordered a murder in Canada, there must be consequences | E

Industries & companies
Airlines: Air Travel Is Still Recovering. Buy AAR Stock. | BR
Banks: Bank Stocks Are Stronger Than You Think. It’s Time to Get In. | BR
Commercial Real Estate: Even a Booming Economy Can’t Save Atlanta’s Office Market | W
Commercial Real Estate: After latest round of RTO mandates, offices remain only half full | C
Manufacturing: Lego’s Latest Effort to Avoid Oil-Based Plastic Hits Brick Wall | W
Materials: Alcoa Names William Oplinger as CEO, Succeeding Roy Harvey | B
Media: Writers strike: WGA reaches tentative deal with studios | C
Pharma: How Wegovy, Ozempic, and Weight-Loss Drugs Could Break the Healthcare System | BR

Artificial Intelligence
ChatGPT mania may be cooling, but a serious new industry is taking shape | E
Amazon to invest up to $4 billion in Anthropic, a rival to ChatGPT developer OpenAI | C
 
Climate
Climate change is coming for America’s property market | E

Beyond markets
How Much Cybersecurity Expertise Do Boards Really Have? | W

September 22 (Friday)

Latest Morning Briefing Executive Summary: The Fed, The Deficit & Earnings
The Fed once again alerted the financial markets that the federal funds rate will remain restrictively aloft for longer than generally expected. Managing the market’s expectations in this way rather than raising rates further might lower the risk of a credit crunch and recession. We agree with the FOMC members who collectively anticipate a soft landing. … Also: Inflation has boosted federal entitlements and interest outlays, ballooning the federal budget deficit to worrisome heights, and soon the Biden administration’s spending spree will take it further north. … And: Get ready for a better Q3 earnings season; that’s the message from the earnings estimate data that Joe tracks for S&P 500 companies.
(subscribers’ link)

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

Markets
US Stocks Drop Most in Six Months as Treasury Yields Surge | B
10-year yields hit 16-year peak as Fed seen higher for longer | R

Central banks
ECB Chief Economist Lane Says Rates Will Be Restrictive as Long as Necessary | B
Japan Inflation Unexpectedly Steady Ahead of BOJ Decision | B
Japan’s Aug inflation stays above BOJ target for 17th month | R

Geopolitics & trade
Malaysia PM Anwar Says China Explanation of Controversial Sea Map ‘Reassuring’ | B
Biden announces $325 million military aid package during a White House meeting with Zelenskyy | C
India suspends visa services for Canadians, demands parity in diplomats | C
Saudi Crown Prince Mohammed bin Salman says he will keep sportswashing | C

US
August Home Sales Declined to Slowest Pace Since January | W
Why AT&T’s John Stankey remains bullish on the economy | Fast Company
Republicans Aim for New Shutdown Despite Strategy Never Working | B
McCarthy Cancels House Votes, Raising Risk of US Government Shutdown | B
House recesses after Defense bill, government funding plan implode | C
White House takes steps to remove medical bills from credit reports | C

China
7 Reasons China’s GDP Growth Is Slowing—And What It Means for Investors | Morningstar

Industries & companies
Autos: UAW strike: Top issues and where GM, Ford and Stellantis stand | C
Autos: UAW’s Demand for 32-Hour Workweek Takes Back Seat in Talks | W
Materials: Hyped up uranium investors face political fallout risk | R

Corporate finance
Tech IPOs get ‘meh’ response from Wall Street: Arm, Instacart, Klaviyo | C

Climate
Government Shutdown Poses ‘Seismic’ Threat to Pollution Controls | B
States push to get to 20 million installed heat pumps by 2030 | C

September 21 (Thursday)

Latest Morning Briefing Executive Summary: The Fed, The Deficit & Earnings
The Fed once again alerted the financial markets that the federal funds rate will remain restrictively aloft for longer than generally expected. Managing the market’s expectations in this way rather than raising rates further might lower the risk of a credit crunch and recession. We agree with the FOMC members who collectively anticipate a soft landing. … Also: Inflation has boosted federal entitlements and interest outlays, ballooning the federal budget deficit to worrisome heights, and soon the Biden administration’s spending spree will take it further north. … And: Get ready for a better Q3 earnings season; that’s the message from the earnings estimate data that Joe tracks for S&P 500 companies.
(subscribers’ link)

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

Markets
Big Tech Weighs on Stock Market After Fed Pause | W
Exclusive: China scrutinises quant strategies as market weakness stokes public anger, sources say | R
How China Could Veto $100 Oil | W
U.S. Treasurys: investors digest Fed rate decision | C
 
Central banks
Fed Holds Rates Steady but Pencils In One More Hike This Year | W
Transcript: Fed Chief Powell’s Postmeeting Press Conference | W
The Federal Reserve’s Dotted Line on Interest Rates | W
Fed rate decision September 2023: Leaves rates unchanged | C
Higher Interest Rates Not Just for Longer, but Maybe Forever | W
Is the Fed ignoring signs of another financial collapse?  | The Hill
Bank of England ends run of 14 straight interest rate hikes | C

US
How U.S. Households Got Turned Upside Down by Higher Interest Rates | W
US weekly jobless claims, continuing claims at eight-month low | R
Credit card interest rates near ‘loan shark’ territory, advisor says | C

Geopolitics & trade
China’s Fighter Jets Aren’t Just Flying Around Taiwan. They’re Practicing. | W
Russia hits Ukrainian energy facilities in biggest attack in weeks | R
India suspends visa services for Canadians, demands parity in diplomats | C
 
Industries & companies
Airlines: Travel boom not enough to drive profits at US budget airlines Frontier, Spirit | R
Autos: Opinion | The United Auto Workers Will Lose. I Worry for Our Economy and for President Biden. | N
Autos: Scott and Haley attack unions as UAW strike threatens to escalate | C
Autos: UAW Pushes for Automakers to Cut Reliance on $16-an-Hour Temp Workers | W
Autos: UAW strike: General Motors, Stellantis announce layoffs | C
Media: Hollywood studios, writers near agreement to end strike, hope to finalize deal Thursday, sources say | C
Media: Rupert Murdoch steps down as chairman of Fox and News Corp | C
Media: Inside the Company Minting the Next Generation of Child Stars | W
Tech: Inside Apple’s Spectacular Failure to Build a Key Part for Its New iPhones | W

Corporate finance
Cisco acquires Splunk in cash deal worth $28 billion | C

Artificial Intelligence
GPUs Transformed AI. Now They’re Here For Quantum. | W
Broadcom falls on report Google discussed dropping firm as AI chip supplier | R

Climate
Can Climate Lawsuits Against Energy Giants Succeed? Courts Could Soon Give Clues | W

September 20 (Wednesday)

Latest Morning Briefing Executive Summary: What’s Up With Earnings?
Today, we examine the flight paths of S&P 500 companies’ revenues, earnings, and profit margins through Q2’s earnings season. … Forward revenues per share rose to a record high the week before last, and analysts project revenues growth more than doubling next year to nearly 5%. … Forward earnings rose to a record high last week; it does a good job of predicting the earnings outlook during economic expansions. … The forward profit margin has edged up since bottoming in March, after dropping from last year’s record high. … All things considered, we’re sticking with our upbeat earnings forecasts and S&P 500 price targets for now.
(subscribers’ link)

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

Markets
Is This The Beginning of the Bursting of the BBB Bubble? | B
Gas Prices Have Crept Higher This Summer, a Challenge for the Fed | N
Wall Street Regulator Wants to See ESG Funds Deliver on Investments | B
The Yuan and Yen Need the Fed’s Help. They Might Not Get It. | W
U.S. Treasury yields: investors look to Fed interest rate decision | C

Central banks
FOMC September 2023: Fed to Pause Interest Rate Hikes for Second Time This Year | B
Fed projections to show if ‘soft landing’ is new baseline … or baseless | R
Take Fed forecast with a grain of salt. It has a terrible track record | C
Fed interest rate moves affected by government shutdown | C

US
Weekly mortgage demand rises, driven by a strange surge in refinancing | C
America’s Biggest Landlords Can’t Find Houses to Buy Either | W
American Labor’s Real Problem: It Isn’t Productive Enough | W
A good old government shutdown is exactly what we need right now | The Hill
Nearly Half of Young Adults Are Living Back Home With Parents | B

Geopolitics & trade
German Industry Defies Rising Pressure to Limit China Exposure | W

Industries & companies
Autos: Auto union worker strike reveals Joe Biden inflation hypocrisy | P
Autos: UAW Strikes Mercedes Parts Plant While Union Eyes More Targets | B
Consumer: General Mills’ Earnings Show Inflation, Supply-Chain Issues Easing | W
Grocery stores: Publix, Florida’s favorite grocery store, explained | Vox
Retail: US Retail Workers Are Quitting Facing Low Pay, Crime, Long Hours | B
Retail: Dollar General Employees Say It’s a Terrible Place to Work | B

Artificial Intelligence & Technology
AI Accelerates Ability to Program Biology Like Software | W
Google DeepMind’s AI Tool Could Pinpoint Our Genetic Faults | B
Elon Musk’s Neuralink is recruiting patients for its first human trial | C

Beyond markets
The Billionaire Keeping TikTok on Phones in the U.S. | W

September 19 (Tuesday)

Latest Morning Briefing Executive Summary: China: Party Tricks
China’s recent efforts to stimulate its economy are likely too little too late after a decade of capitalism-eroding policies under President Xi Jinping, a huge property bubble, and a rapidly aging population. August’s economic data do show green shoots of revived growth from the stimulative policy initiatives recently enacted, but not convincingly enough to reinvigorate China’s stock market or global commodity markets. The copper price in particular is highly sensitive to China’s economic situation, but its range-bound price action suggests Dr. Copper is not impressed. … Moreover, China’s forward revenues and earnings metrics have been trending downward since 2014, suggesting that China peaked back then.
(subscribers’ link)

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

Markets
Pimco’s Erin Browne Sees 15% Drop in S&P 500 From an Oil Price Shock | B
China stored huge volumes of crude oil in August, giving it options | R
BlackRock’s Amanda Lynam Says Junk-Bond Issuance Rebound to Accelerate | B
Investors Keep Putting Money Into Private Credit | W
Copper grounded by rising exchange inventories | R
The Yuan and Yen Need the Fed’s Help. They Might Not Get It. | W

Global
Global Economy Poised to Slow as Rate Hikes Bite, OECD Says | B
Global debt hits record $307 trillion, debt ratios climb -IIF | R
 
Central banks
The Fed’s Next Challenge: $100 Oil | W
Fed Faces Familiar Foe as Oil Prices Threaten Growth, Inflation | B
Fed to hold rates steady, but signal policy path in meeting this week | R
Central banks head for peak rates — but inflation battle is not over | C
The Fed wants to cool spending; a strike, a shutdown and student loans may add ice | R
ECB to tackle excess liquidity in next stage of inflation fight -sources | R
Nouriel Roubini Says BOE and ECB Must Raise Rates to Avoid ‘Stagflation’ | B
 
US
Why a Soft Landing Could Prove Elusive | W
US housing starts hit three-year low; surge in permits point to underlying strength | R
The Big Employer Still Adding Jobs and Boosting Pay: The Government | W
US shutdown looms: Top House Republican Kevin McCarthy faces crucial test | R
Yellen: No signs US economy in downturn, warns against gov’t shutdown | R

China
Is China’s Economic Predicament as Bad as Japan’s? It Could Be Worse | W
An Even Bigger Housing Crisis Threatens China’s Economy | W
 
Geopolitics & trade
Lawmakers Request Details of Chinese Nationals at Sensitive U.S. Facilities | W
Ukraine says it will sue Poland, Hungary and Slovakia over food import bans | R
France’s Far-Right Party Pays €6.1 Million to Close Russian Loan | B
India-Canada relations: how could trade be affected as tensions rise?  | R

Industries & companies
Airlines: How the airline boarding process became such a mess | CNN
Autos: UAW Strike 2023: Inside the Union Walkout Against GM, Ford, Stellantis | B
Autos: Tesla, Saudi Arabia in Early Talks for EV Factory | W
Autos: Congress must take California out of the driver’s seat on electric car mandates | The Hill
Consumer: Clorox says last month’s cyberattack is still disrupting production | C
Energy: The Unexpected New Winners in the Global Energy War | W
Media: Disney to Invest $60 Billion in Theme Parks, Cruises Over Next Decade | W
 
Artificial Intelligence
Morgan Stanley uses ChatGPT to help financial advisors | C
AI Accelerates Ability to Program Biology Like Software | W

Corporate finance
Tech IPOs are back, deal valuations are rising. Don’t get fooled again | C
Instacart’s biggest IPO twist: Tech trying to go public as value stock | C
M&A Can Pay Off, but It’s Far From a Sure Thing | W
 
Climate
Companies Stall Climate Action Despite Earlier Promises | W
 
Beyond markets
Gary Gensler is making the SEC into a banana republic | P

September 16 (Saturday)

Latest Morning Briefing Executive Summary: Transports Flying Into Headwinds
It’s a been train wreck: Investors have been bailing on the S&P 500 Transportation index in recent weeks, after sending it northward for most of the year. Jackie examines the business pressures they’ve been reacting to, including lighter loads to haul in the wake of the inventory correction at a time of increased fuel and labor costs. … Also: May the best battery developer win EV market dominance. Our Disruptive Technologies segment takes a look at where the top contenders are in this high-stakes race.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 11.

Markets
Markets Bounce Around and Wind Up Where They Started | BR
Wall Street Is Furious Over Rising Fines From SEC | W
Oil prices surge as stocks drain away from Cushing | R

Central banks
Why a Fed Rate Hike This Year Doesn’t Matter, but Rate Cuts in 2024 Do | BR
ECB seals euro’s fate; parity back in play? | R
Lagarde seized ECB colleagues’ handsets to prevent leaks | R

US
Demands for Tips Are Up. Actual Tipping, Not So Much. | W

Europe
A fresh wave of hard-right populism is stalking Europe | E
Germany’s rampant hard-right AfD puts other parties in a fix | E
The Mittelstand will redeem German innovation | E
EU ministers agree on fiscal reform ‘camino’, aim for year-end deal | R

China
China’s Economy Still Faces Headwinds Despite Early Signs of Recovery | W
Does China face a lost decade? | E

Geopolitics & trade
Chinese carmakers are under scrutiny in Europe | E
Why is Vladimir Putin looking to North Korea for arms? | E
Japan’s Mitsui to comply with Arctic LNG 2-related U.S. sanctions | R

Industries & companies
Airlines: Staffing Shortage at Air-Traffic Control Means More Cuts of New York Flights | W
Airlines: Cheaper Airfares Are Squeezing Airline Stocks | W
Airlines: More companies warn higher costs will eat into profits | C
Autos: Why the UAW Strike Isn’t the Biggest Problem for Ford and GM | BR
Autos: Whatever the UAW Strike Outcome, Elon Musk Has Already Won | W
Autos: Rimac Nevera EV review: Powerful, easy to drive | C
Defense: Buy Mercury Systems Stock. It’s Poised for a Turnaround. | BR
Media: People Are Streaming Pirated Movies on TikTok, One Short Clip at a Time | W
Tech: Arm Stock Is Priced Like Nvidia. It’s Growing Like Apple. | BR

Corporate finance
Instacart IPO Is an Expensive Lesson for Venture Firms | W

Artificial Intelligence
How artificial intelligence can revolutionise science | E
Interactive Brokers Is an AI Play That’s Hiding in Plain Sight | BR
 
Climate
Record Heat Deaths in Arizona Spur Push for Disaster Assistance | W

September 15 (Friday)

Latest Morning Briefing Executive Summary: Transports Flying Into Headwinds
It’s a been train wreck: Investors have been bailing on the S&P 500 Transportation index in recent weeks, after sending it northward for most of the year. Jackie examines the business pressures they’ve been reacting to, including lighter loads to haul in the wake of the inventory correction at a time of increased fuel and labor costs. … Also: May the best battery developer win EV market dominance. Our Disruptive Technologies segment takes a look at where the top contenders are in this high-stakes race.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 11.

Markets
Dow Industrials Paying Price for Leaving Out Amazon and Alphabet | B
Oil to hit $100? Analysts expect a return to triple digits before 2024 | C
Iron ore price rallies on China fundamentals, but cap looms | R

Global
Shipping giant Maersk is seeing tentative signs of a bounce back in global trade | C

Central banks
Fed Seen Signaling One More Hike and Pushing Out 2024 Rate Cuts | B
ECB seals euro’s fate; parity back in play? | R
Rising Rates Make Big Companies Even Richer | W

US
In Biden’s war on poverty, poverty — especially for kids — is winning | P
Can Joe Biden and a fistful of cash win rural America for Democrats? | R

China
China Economy Shows Signs of Stabilizing on Policy Boost | B
China’s Economy Shows Fresh Signs of Fragile Recovery | W
China May Dodge Deflation, After All | W
China Economic Crisis 2023: What Real Estate Market Collapse Means for World | B
Broken dreams, shattered families in China’s unfinished apartments | R

Europe
Sweden braces as property storm clouds darken | R

Geopolitics & trade
China sanctions Northrop Grumman, Lockheed Martin for arms sales to Taiwan | R
China’s Defense Minister Being Removed From Post, U.S. Officials Say | W
Hypersonic Missiles Are Game-Changers, and America Doesn’t Have Them | W
Why Biden’s Border Policies Aren’t Working | W

Industries & companies
Autos: UAW Strike Begins as GM, Ford, Stellantis Contract Negotiations Fail | B
Autos: The Car Shortage Is Finally Easing. The UAW Strike Could Change That. | W
Retail: French grocery chain adds ‘shrinkflation’ labels to products | C
Tech: TSMC tells vendors to delay chip equipment deliveries, sources say | R

Corporate finance
Instacart Set to Raise IPO Price Target After Successful Arm Debut | W

Artificial Intelligence
Podcast: Sam Altman Sees AI as a Tool to Combat Inequality | B

September 14 (Thursday)

Latest Morning Briefing Executive Summary: Transports Flying Into Headwinds
It’s a been train wreck: Investors have been bailing on the S&P 500 Transportation index in recent weeks, after sending it northward for most of the year. Jackie examines the business pressures they’ve been reacting to, including lighter loads to haul in the wake of the inventory correction at a time of increased fuel and labor costs. … Also: May the best battery developer win EV market dominance. Our Disruptive Technologies segment takes a look at where the top contenders are in this high-stakes race.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 11.

Markets
Dow slips a second day after August’s slightly hotter core inflation reading | C
Oil Prices Are Soaring: Who Is Feeling the Pinch? | W
How Global Currencies End by Barry Eichengreen | Project Syndicate
As OPEC’s Energy Influence Wanes, China’s Minerals Clout Rises | W

Central banks
No Inflation Rest for the Federal Reserve | W
How the Bank of Japan’s Shift Could Play Out in U.S. Markets | W
European Central Bank Raises Key Interest Rate to Record High | W

US
U.S. Inflation Accelerated in August as Gasoline Prices Jumped | W
Opinion | How the U.S. Economy Is Taming Inflation Without a Recession | N
Here’s the inflation breakdown for August 2023, in one chart | C
U.S. Incomes Fall for Third Straight Year | W
The GOP’s Biden Impeachment Inquiry: What to Know | W
Why More Baby Boomers Are Sliding Into Homelessness | W

China
What is shadow banking? Unpacking the risks for China | C
In China, a Completely Different Approach to Lowering Healthcare Costs | W

Industries & companies
Airlines: Costlier Fuel and Labor Cut Into Corporate Profit | W
Autos: UAW auto strike negotiations: Where things stand | C
Energy: Inside Exxon’s Strategy to Downplay Climate Change | W
Pharma: Ozempic may be effective in treating a lot more than weight loss | Vox
Tech: Google is cutting hundreds of jobs in its recruiting organization | C
Tech: Carriers Are Offering Great iPhone 15 Deals—Just Beware the Fine Print | W

Artificial Intelligence
Artificial Intelligence May Be Humanity’s Most Ingenious Invention—And Its Last? | Vanity Fair
Cramer: AI will be profitable for executives seeking ‘cost savings’ | C

Crypto
Mila Kunis-backed ‘Stoner Cat’ NFT animated series fined $1 million by SEC | C

Corporate finance
Arm prices IPO at $51 a share, valuing company at over $54 billion | C

September 13 (Wednesday)

Latest Morning Briefing Executive Summary: AI For All
The day will come when all companies use AI just as all use the Internet today. The efficiency gains will be profound. Jackie discusses the three main skill sets that AI brings to the table and looks at ways that companies in diverse industries have found to leverage AI to their advantage. … Also: Washington lawmakers have been holding forums and hearings to explore how best to regulate AI usage, with industry execs and the Biden administration participating. … And: Technology industries that are heavily exposed to AI have helped the S&P 500 Tech sector outperform all but one other sector so far this year.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 11.

Markets
U.S. Treasury yields: investors await key inflation data | C
Hedge Funds’ Big Bet Against Treasurys Isn’t What You Think | W
Saudi Oil Cuts Set to Keep Gasoline Prices Higher | W

US I
US consumer prices accelerate in August on gasoline | R
U.S. Inflation Accelerated in August as Gasoline Prices Jumped | W
CPI report August 2023: Inflation rose 0.3% | C
Tax Cuts Are Here to Stay—and So Are Exploding Budget Deficits | W
Opinion | What Biden Can Learn from Roosevelt’s ‘New Deal’ | N

US II
The government wants to see if giving people cash for rent works better than vouchers | Vox
Mortgage demand stalls at a level not seen since 1996 | C
A 3% Mortgage Rate in a 7% World? This Startup Says It Can Do That | W

Europe
Nuclear gets a boost from Europe’s new green energy targets | R

China
Peak China gloom or geopolitical quagmire? | R

India
India’s Kerala shuts schools and offices to curb deadly Nipah virus | R
 
Geopolitics & trade
Kim Jong Un and Vladimir Putin Meet at Russia’s Main Spaceport | W
China says it has not banned purchase, use of foreign phone brands | R
China’s Electric-Vehicle Makers Face EU Antisubsidy Probe | W

Industries & companies
Airlines: American Airlines, Spirit cut summer profit forecast on costs | C
Autos: UAW may implement targeted strikes if no deals reached with automakers | C
Banks: Citigroup CEO Jane Fraser reorganizes business | C
Energy: Nukes Are Back, but Uranium Is in Short Supply | W
Pharma: Moderna flu vaccine shows promising phase three trial results | C
Retail: Organized shoplifting is a $100-billion problem. | FO

Corporate finance
Arm IPO: What to Know About the Circuit Designer and Its Market Debut | W