December 29 (Thursday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Yardeni Says Stock Bulls Have ‘Narrow Path’ to Victory in 2023 | B
Markets
These Are the Stocks That Kept Investors Up at Night in 2022 | B
The Great Liquidity Debate: Top Wall Street Traders Size Up the 2022 Fallout| B
An Epic Dollar Rally Goes Into Reverse—and Investors Expect Further Declines | W
Energy
Oil Market Was Splintered in 2022 by Russia’s Invasion of Ukraine | W
Europe Taps Tech’s Power-Hungry Data Centers to Heat Homes | W
Here’s why the U.S. electric grid isn’t running on 100% renewable energy yet | C
US
US Jobless Claims Rise Slightly But Remain Near Historic Lows | B
The second housing bubble of the 21st Century ends
Mortgage Rates in the US Rise for the First Time in Seven Weeks | B
Consumers Change Food-Delivery Habits | W
Economy Has Drinkers Choosing Prosecco Over Champagne | W
Here’s why egg prices surged in 2022. Those elevated costs could last into the first quarter of 2023, expert says | C
$1 million in retirement savings lasts longest in these 10 states—almost half are in the southeast | C
China
China's Xi solidified grip on power during tumultuous 2022 | R
Beijing Calls for Measured, Science-Based Response to Its Covid Outbreak | W
Industries & companies
Airlines: Southwest Airlines meltdown: When ultra-efficiency is not supported by technology | The Hill
Media: 2022 was tough for media stocks like Netflix and Disney, and 2023 doesn’t look good, either | C
Retail: Retail Investors Took a Beating in 2022. Will It Continue in 2023? | B
Tech: Apple iPhone Output in China Begins to Catch Up Despite Covid-19 Issues | W
Tech: Amazon lost half its value this year as tech stocks got crushed and recession fears grew | C
December 28 (Wednesday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
What's Ahead—and 3 Stocks to Watch—for Every S&P 500 Sector | BR
Negative-Yielding Bonds Could Be Approaching Their Final Days | W
Energy
Russian pipeline gas exports to Europe collapse to a post-Soviet low | R
Why natural gas plays a key role in the clean energy transition | The Hill
Opinion | This Year Was the Beginning of a Green Transition | N
US
Inflation Takes Biggest Bite From Middle-Income Households | W
U.S. pending home sales sag more than expected in November | C
China
China’s Censors End Crackdown on Covid-Policy Criticism—of a Certain Kind | W
Geopolitics & trade
Russia’s War Has United Europe, but Highlights Bloc’s Dependence on U.S. | W
Putin attempts to undermine oil price cap as global energy markets fracture | C
South Korea must respond to N.Korea despite its nuclear arms - Yoon | R
Industries & companies
Autos: Top 2022 auto stocks: Ferrari outshines EV makers like Tesla | C
Airlines: Southwest cancels more flights as rival carriers cap fares for stranded flyers | C
Airlines: Southwest flight upheaval a 'system failure,' U.S. says | R
Airlines: Flight cancellations: Why Southwest Airlines is melting down | CNN Business
Media: 'Avatar: The Way of Water' makes $1 billion in 14 days | C
Covid
U.S. to impose mandatory COVID-19 tests for travelers from China | R
U.S. records 100 million Covid cases, but more than 200 million Americans have probably had it | C
December 27 (Tuesday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
After Muni-Bond ‘Bloodbath,’ Expectations for 2023 Are Muted | W
US
U.S. retail sales grows 7.6% in holiday season -Mastercard data | R
Home Prices Fell in October for Fourth Straight Month | W
Baking Supplies Cost a Lot More This Year. So Did Flying. But That Flat-Screen TV Got Cheaper. | W
Europe
European Luxury Shares Rise on Easing of Chinese Border Restrictions | W
China
Does Zero Covid’s End Mean China Is Running Out of Money? | W
With ‘Zero Covid,’ China Proved It’s Good at Control. Governance Is Harder. | N
China's COVID cases overwhelm hospitals | R
China Cities’ Covid Estimates Suggest Infections May Peak in January | B
Chinese make travel plans as Beijing dismantles zero-COVID rules | R
China Covid: Lemons, peaches and TCM bought as protection from virus | C
Wealthy Chinese, Fed Up at Home, Find a Haven in Japan | W
Japan
Japanese Companies Reach Natural-Gas Deals With Oman, U.S. | W
India
India’s Upscale Housing Market Strengthens, Defying Global Trend | W
Geopolitics & trade
China-US Diplomatic Relations: Chinese Plan to Improve Ties | B
Taiwan reports China's largest incursion yet to air defence zone | R
The new geopolitical epoch | E
Industries & companies
Airlines: Southwest cancels 70% of flights as travel disruptions ease elsewhere | C
Airlines: Southwest Airlines CEO Says More Cancellations Ahead as Airline Tries to Recover | W
Autos: Why 2023 could be another difficult year for the auto industry | C
Autos: Auto-Loan Interest Rates Are Skyrocketing. No One Told Credit Unions. | W
Tech: IBM stock outperformed technology sector in 2022 | C
Tech: Chip Inventories Swell as Consumers Buy Fewer Gadgets | W
Tech: Laid Off Tech Workers Quickly Find New Jobs | W
Technology
Robots Are Replacing Workers Lost in the Pandemic. Why They're Here to Stay. | BR
December 23 (Friday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
S&P 500 Facing a Historical Warning Sign After This Year's Slump | B
Central banks
Japan Inflation Hits Four-Decade High, Pressuring Central Bank in 2023 | W
How the Federal Reserve affected 2022's stock market | C
Opinion | Larry Summers: what to do next on inflation | WP
Energy
Russia says it may cut oil output up to 7% over price cap | R
Column: Key coal import hubs in China perk up as economy reboots | R
US I
Why America's economy remains surprisingly strong -- but you don't realize it | NN
Why everyone thinks a recession is coming in 2023 | C
U.S. Household Spending Rose Sightly in November as Inflation Eased | W
U.S. Population Growth Remains Sluggish Despite Uptick This Year | W
Low weekly jobless claims underscore U.S. labor market tightness; Q3 growth revised up | R
U.S. Home Sales Post Record 10th Straight Month of Declines | W
Biden must take on the cost of rent next — and urge Congress to act | The Hill
CarMax results hit by 'used-vehicle recession'; buyback paused | R
US II
Egg Prices Surge to Records as Bird Flu Hits Poultry Flocks | W
Senate passes government funding bill, teeing up House vote | C
$52 billion plan to save New York's low-lying areas from sea flooding | C
Winter weather: Biden urges Americans to travel early with a massive blizzard slated to hit the U.S. | C
China I
Opinion | China’s Future Isn’t What It Used to Be | N
China Covid News: Soaring Cases Push Economic Activity Off A Cliff | B
China Covid Cases Surge Infecting 37 Million People a Day, According to Estimate | B
China's Covid Outbreak Could Spark Dangerous New Variant That Infects the World | B
Shanghai hospital warns of 'tragic battle' as COVID spreads | R
Opinion | In China, ‘Zero Covid’ Is Gone, but the Trauma Lingers | N
Sour U.S.-China Relations Feed the Fentanyl Crisis | W
Xi’s Support for Big Tech Is About More Than Covid | B
Geopolitics & trade
Exclusive: US says Russia's Wagner Group bought North Korean weapons for Ukraine war | R
Europe Is Rushing Arms to Ukraine but Running Out of Ammo | W
Industries & companies
Airlines: Winter storm Elliott: Airlines cancel flights before Christmas | C
Autos: Tesla stock slides on demand concerns, Elon Musk Twitter distraction | C
Beyond markets
Covid, flu, RSV: Tripledemic means masking up again, says virus expert | C
Schools Prepare for Rise in Flu, Covid-19 Cases Tied to Holiday Break | W
FTX founder Sam Bankman-Fried to be released on $250 million bail, will live with his parents | C
December 21 (Wednesday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
Dow Edges Higher After Surprise Bank of Japan Adjustment | W
Column: Commodity forecasts are absurd, but China is key as Ukraine fades | R
Bill Gross says markets are headed for 'potential chaos' if interest rates keep going up | C
Central banks
Bank of Japan Lets a Benchmark Rate Rise, Causing Yen to Surge | W
Japan to revise statement with central bank to water down price target, Kyodo reports | R
Fed zooms in on American paychecks as it takes inflation battle into 2023 | B
Energy
Gazprom: gas supplied in full, bypassing damaged Russian export pipeline | R
Porsche starts production of e-fuel that could provide gas alternative | C
US
Higher mortgage rates depress U.S. single-family housing starts, building permits | R
Lawmakers Boost Military, Domestic Spending in $1.65 Trillion Omnibus Bill | W
'Secure 2.0' on track to usher in changes to the retirement system | C
China
China population: with 2022 set to be a turning point, what’s next as economy, coronavirus take toll? | SCMP
China’s sudden ‘reopening’ reveals new economic challenges | C
Geopolitics & trade
Opinion | The U.S. Needs to Change the Way It Does Business With China | N
Industries & companies
Media: Marvel sequels are most anticipated movies of 2023: Fandango survey | C
Pharma: Many Hospitals Get Big Drug Discounts. That Doesn’t Mean Markdowns for Patients. | W
Beyond markets
JFK taxi dispatch system hacked, New York men arrested for conspiracy | C
December 20 (Tuesday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
What's Ahead for the Stock Market in 2023? Our Strategists Weigh In. | BR
Stock Picking Makes a Comeback in Market Turbulence | W
Central banks
The Bank of Japan shocks investors | E
Bank of Japan shocks global markets with bond yield shift | C
Bank of Japan Lets a Benchmark Rate Rise, Causing Yen to Surge | W
Japan Bends to Global Forces Pushing Up Interest Rates | W
Treasury Rally to Be Tested by Fed’s Next Move | W
Energy
Why the Gulf’s oil powers are betting on clean energy | E
U.S. Scores $4 Billion Windfall on Oil-Reserve Sales | W
US
2023 Could Bring Rolling Recessions and a Glimmer of Hope for Financial Markets | BR
The man behind Trump World’s myth of rigged voting machines | R
Congress releases spending bill with election reforms to prevent another Jan. 6 | C
China
China’s covid wave could kill as many as 1.5m people | E
Two health experts say China’s haste to re-open risks needless death and disruption | E
The world fears a new China COVID wave, ponders how to help Xi | R
Emerging
Emerging Markets Haven’t Seen a Bull Run in a Decade. Why There’s Hope for 2023. | BR
Geopolitics & trade
Japan’s Weapons Buildup to Bolster U.S. Efforts to Counter China | W
A looming Russian offensive | E
Analysis: Russia's grim battle for Bakhmut may yield pyrrhic victory at best | R
Industries & companies
Autos: Why More EV Makers Aren't Making Cars at All | BR
Autos: Auto execs less confident in EV adoption amid economic fears: KPMG | C
Chemicals: 3M to Stop Making, Discontinue Use of ‘Forever Chemicals’ | W
Financials: Wells Fargo Reaches $3.7 Billion Deal With Regulators Over Consumer Banking | W
Retail: Target under pressure, hopes value-hungry shoppers come to the rescue | C
Tech: Apple will reportedly begin producing some MacBooks in Vietnam in 2023 | C
Corporate finance
Oatly, Other Deflated IPO Stocks Haunt New-Issue Market | W
December 17 (Saturday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
Dow closes more than 200 points lower, falls for second straight week | C
Forget Stock Predictions for Next Year. Focus on the Next Decade. | N
Global
Price Pressures Ease in U.S. and Europe, Businesses Say | W
Central banks
Italian economy minister says ECB rates hikes worrying for Rome | R
Energy
Breakneck LNG build-out shows Germany can move fast, Scholz says | R
Bill Gates-backed nuclear demonstration delayed by at least 2 years | C
US
Americans Expect Worsening U.S. Economy in 2023, WSJ Poll Finds | W
Why This Housing Downturn Isn’t Like the Last One | W
China
New Covid model predicts over 1 million deaths in China through 2023 | C
In COVID-hit Beijing, funeral homes and crematoriums are busy | R
Europe
EU Greenlights 15% Corporate Minimum Tax, Advancing Global Deal | W
Italy urges EU to give strong and strategic response to U.S. IRA | R
Geopolitics & trade
Putin’s New Strategy: Laying Claim to Traditional Values | W
Industries & companies
Autos: Ford F-150 Lightning electric pickup gets another price hike | C
Financials: Goldman Sachs is planning to cut up to 8% of its employees in January | C
Media: 'Avatar: The Way of Water' makes $17 million in Thursday previews | C
December 16 (Friday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
Dow Falls More Than 700 Points on Interest-Rate Expectations | W
Stock Market Traders Discover That Bad News Is Bad After All | B
The Markets Don’t Believe the Fed | W
Energy
Keystone pipeline break spilled diluted bitumen, complicating cleanup | R
Column: China boosted crude oil storage even as refiners processed more | R
California lowers solar energy incentives for homeowners | C
Central banks
How rules-based Fed policy can reduce recession risk and fight inflation | The Hill
How the Federal Reserve flawlessly curbed inflation in the ’90s - Vox
US
Retail Sales, Manufacturing Declines Point to Slowing Economy | W
Home flipping profits drop at fastest pace in over a decade | C
Senate Passes $858 Billion Defense-Policy Bill | W
Trump vows free speech reform of government, universities, tech | C
Europe
Is Europe’s Energy Crisis Actually A Boon? | OilPrice.com
EU Greenlights 15% Corporate Minimum Tax, Advancing Global Deal | W
Geopolitics & trade
U.S. Regulator Says It Has Access to Audit Papers of Chinese Companies | W
U.S. slaps restrictions on Chinese chipmaker, other companies over national security | C
Industries & companies
Airlines: The Bleisure Traveler—Coming to the Rescue of Airlines Everywhere | W
Healthcare: How a Sprawling Hospital Chain Ignited Its Own Staffing Crisis | N
Crypto
Sam Bankman-Fried’s Parents Under Scrutiny in FTX Collapse | N
Binance CEO brushes off $2.1 billion FTX clawback concerns | C
Beyond markets
Covid news: Most nursing home residents have not received omicron booster | C
December 15 (Thursday)
Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. …. China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
Chinese firms avert delisting risk as U.S. watchdog gets 'full access' in audit inspections | R
Central banks
Jerome Powell’s Grim Inflation Outlook Is at Odds With Markets | W
Fed Raises Rate by 0.5 Percentage Point, Signals More Increases Likely | W
ECB slows rate hikes, says inflation fight must go on | R
ECB hikes rates, sees significant increases ahead as it announces plan to shrink balance sheet | C
Energy
Germany's half-a-trillion dollar energy bazooka may not be enough | R
Aramco and TotalEnergies to build $11 bln Saudi petrochemicals plant | R
US
Retail sales November 2022: Sales fall 0.6% as consumers feel pressure from inflation | C
U.S. retail sales post biggest drop in 11 months; labor market tight | R
China
China’s Leaders Plot Pivot Back Toward Boosting Economy | W
Geopolitics & trade
Exclusive: The global supply trail that leads to Russia’s killer drones | R
Industries & companies
Airlines: American Airlines frequent flyer reward changes make it harder to earn | C
Crypto
Binance CEO brushes off $2.1 billion FTX clawback concerns | C
December 14 (Wednesday)
Latest Morning Briefing Executive Summary: Disinflation?
Inflation peaked in June and continued to moderate in November. The Santa Claus rally should continue unless the Fed’s Grinches get in the way. …. Small business owners still facing labor shortages and raising wages and prices. …. S&P 500 forward revenues, earnings, and margins losing their mojo. And: What if home prices don’t fall much?
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
Stocks close higher on cooler inflation report, notch second day of gains | C
Unpredictable 10-Year Treasury Yield Poses Puzzle for Investors, Fed | W
Central banks
Fed rate hike expected to be half a percentage point as central bank fights inflation | C
Slowing Inflation Could Intensify Fed Debate Over When to Stop Raising Rates | W
US
U.S. Inflation Eased in November, CPI Report Shows | W
Prices for Used Cars, Plane Tickets and Electricity Eased in November | W
Mortgage rates drop after CPI inflation report | C
Unhappy New Year: CBO Forecasts Poor Economy, Soaring Deficits in 2023 | The Heritage Foundation
Too Much Gloom and Doom? by Willem H. Buiter | PS
Europe
Europe Strikes Deal to Tax Imports Based on Greenhouse-Gas Emissions | W
Europe’s Energy Ministers Fail to Agree on Plan for Natural-Gas Price Curb | W
Geopolitics & trade
The supply chain that keeps tech flowing to Russia | R
Two Americans and five Russians charged with running a smuggling network to obtain military technology and ammunition for Russia | C
Industries & companies
Pharma: Moderna’s mRNA Cancer Vaccine Shows Promise in Preliminary Study | W
Technology
Nuclear fusion breakthrough: More power than used to create reaction | C
ChatGPT is a new AI chatbot that can answer questions and write essays | C
Crypto
Exclusive: How a secret software change allowed FTX to use client money | R
FTX executives spent $256 million on Bahamas real estate | C
Beyond markets
Opinion | The Great Delusion Behind Twitter | N
December 13 (Tuesday)
Latest Morning Briefing Executive Summary: The Bubble in Everything Has Burst. Now What?
The bubble in everything has burst without dire consequences so far. Surprisingly, it has been a relatively smooth transition back to the Old Normal from the New Normal. Among the biggest bubbles to pop was in the bond market. The cryptocurrency calamity hasn’t turned into a contagion. The SPAC debacle has also been contained. There is still some air in the stock market bubble, but less than there was at the beginning of the year. Home prices may get supported by a shortage of inventory.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 12.
Markets
10-year Treasury yield drops below 3.5% after inflation reading comes in lighter than expected | C
Copper prices — traditionally a barometer for the global economy — are expected to soar next year | C
Central banks
Interest-Rate Paths for U.S., Europe Set to Diverge | W
US
CPI Report Shows U.S. Inflation Eased in November | W
CPI inflation November 2022: Prices rose less than expected in November, up 7.1% from a year ago | C
Supply-Chain Shortfalls Targeted by New Bill | W
Four-day workweek: How shortening the week could change office life | C
Europe
Europe Strikes Deal to Tax Imports Based on Greenhouse-Gas Emissions | W
Energy crisis: EU works on gas cap and contingency measures for next winter | C
China
China’s Zero-Covid Policy Is Ending, but Not Everyone Is Celebrating | W
China reportedly delays key economic meeting amid signs of surging infections | R
Geopolitics & trade
China brings WTO case against U.S. chip export restrictions | C
Industries & companies
Airlines: United Airlines places Boeing order for 100 Dreamliners | C
Pharma: Moderna’s mRNA Cancer Vaccine Shows Promise in Preliminary Study | W
Climate
Explainer: Could fusion energy help fight climate change? | R
Crypto
Sam Bankman-Fried ran FTX as fraud ‘from the start,’ SEC charges | C
December 12 (Monday)
Latest Morning Briefing Executive Summary: The Call Of The Wild
A few choice negative words about consumer spending prospects from a few high-profile bank CEOs tripped up the S&P 500 last week. But on Monday, a strong NM-PMI release did the same, setting investors fretting about the very opposite: that consumer spending might be too strong. Meanwhile, the bankers are crying all the way to the bank: The S&P 500 Financials sectors’ forward revenue and forward earnings have never been higher. If investors need reassurance that the economy isn’t headed south, the Atlanta Fed’s GDPNow model certainly provides it. … Also: PPI inflation is falling relatively quickly. … And: Wage growth seems to have peaked.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 5.
Markets
A Global Upheaval Is Under Way, Says Market Veteran Felix Zulauf. Don’t Get Caught Flat-Footed. | BR
Some Activists Are Leading an ESG Backlash | BR
Central banks
Investors Grow More Confident Fed Will Pull Off a Soft Landing | W
Interest-Rate Paths for U.S., Europe Set to Diverge | W
Global
Column: Fiscal cavalry trots to inflation battle | R
US
U.S. inflation will be much lower by end of 2023, Yellen says | R
You’re Hired! No Interview Required in Tight Labor Market | W
Inflation Is Forcing Many Retirees to Put Long-Awaited Plans on Hold—Again | BR
Homelessness Worsens in Older Populations as Housing Costs Take Toll | W
From Disney to Target, Boeing, CEO retirements are a thing of the past | C
Sen. Sinema's switch to Independent will not impact Democrats' control of the chamber, representatives say | C
China
China is loosening its covid restrictions, at great risk | E
China is dismantling its zero-covid machine | E
Chinese consumers wary of splurging after Beijing relaxes COVID strictures | R
Waning trust: China shadow banks pivot away from property to survive | R
China Props Up Belt-and-Road Borrowers Via Unusual Channel | W
China's Balance of Payments Data Does Not Add Up | Council on Foreign Relations
Europe
Why Italy, like Europe, is crying out for big reform | E
Geopolitics & trade
How Washington Persuaded Europe to Put a Price Cap on Russian Oil | W
Industries & companies
Healthcare: CVS Wants to Be a Healthcare Provider. So Why Doesn't It Have Any Doctors? | BR
Materials: Coal Price’s Rally May Soon Burn Out | BR
Media: I Found the Perfect Replacement for Twitter. It’s LinkedIn | WIRED
Technology
SpaceX launches Japanese ispace lunar lander first mission | C
Beyond markets
NASA Prepares for Orion Spacecraft Splashdown to Conclude Artemis I Mission | W
December 09 (Friday)
Latest Morning Briefing Executive Summary: On Industrials, P/Es & Chinese Protestors
The Industrials sector is outperforming the S&P 500 despite market expectations for a recession. The sector’s exposure to airlines, the defense industry, Boeing, and General Electric may continue to support its performance into 2023. … Also: The bear market has taken a bite out of most industries’ forward P/Es, especially those involved with Information Technology or Consumer Discretionary sectors. Meanwhile, forward P/Es have expanded for select industries in the defensive Consumer Staples and Health Care sectors. … And Jackie examines how technology both helped and hurt Chinese protesters.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 5.
Markets
S&P 500 snaps losing streak on jobless claims rise | R
US
U.S. labor market still tight despite continuing claims hitting 10-month high | R
U.S. Jobless Claims Rise Slightly in Tight Labor Market | W
'The worst is yet to come': the curse of high inflation | R
Gas Prices Fall Below Last Year’s Average | W
A $100 Billion Lesson In Why Building Public Transportation Is So Expensive in the US | Vice
House passes $858 billion defense bill that would scrap Covid vaccine mandate | C
China
How Will China Turn Its Economy Back On? The World Is About to Find Out. | N
Shanghai Disneyland Reopens as Businesses in China Welcome Covid-Control Easing | W
Letter From Apple Supplier Foxconn’s Founder Prodded China to Ease Zero-Covid Rules | W
Europe
The Five-Year Engineering Feat Germany Pulled Off in Months | W
Germany expects more arrests after coup plot swoop | R
Geopolitics & trade
Saudi Arabia signs Huawei deal, deepening China ties on Xi visit | R
NATO Membership for Sweden and Finland on Track, Officials Say | W
Industries & companies
Autos: Auto Dealers Gird for Softening Demand Amid Higher Rates, Uncertain Outlook | W
Autos: Tesla Sales of Chinese-Made Cars Hit Record, as Nation’s Auto Market Shrinks | W
Energy: Column: 'Dispatchable' renewables in spotlight after upbeat IEA report | R
Energy: Exxon Holds Firm on Its Five-Year Spending Outlook | W
Financials: The $42 Billion Question: Why Aren’t Americans Ditching Big Banks? | W
Corporate finance
FTC sues to block Microsoft's acquisition of Activision Blizzard | C
Crypto
SEC issues new guidance requiring companies to disclose cryptocurrency risks | C
FTX spokesman Kevin O'Leary says he lost $15 million crypto payday | C
December 08 (Thursday)
Latest Morning Briefing Executive Summary: On Industrials, P/Es & Chinese Protestors
The Industrials sector is outperforming the S&P 500 despite market expectations for a recession. The sector’s exposure to airlines, the defense industry, Boeing, and General Electric may continue to support its performance into 2023. … Also: The bear market has taken a bite out of most industries’ forward P/Es, especially those involved with Information Technology or Consumer Discretionary sectors. Meanwhile, forward P/Es have expanded for select industries in the defensive Consumer Staples and Health Care sectors. … And Jackie examines how technology both helped and hurt Chinese protesters.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 5.
Markets
S&P 500 Notches Five-Day Losing Streak as Investors Mull Path for Rates | W
Bruising Stock Market Reversal Shows How Fed’s Pivot May Come Too Late | B
What China’s Covid-19 Reopening Means for Markets | W
Emerging Economies Have a High Default Risk in 2023 | B
Energy
Russian Oil-Price Cap Adds to Fiscal Pressure on Moscow | W
US
What’s Going On With the Housing Market? | W
Used vehicle demand and prices continue to decline from record highs | C
Long Covid Is a Threat to the Whole Economy | B
Wells Fargo, BofA CEOs say consumer demand is cooling, recession looms | C
U.S. SEC to vote on proposals that could overhaul Wall St. trading | R
Georgia Win Ends Headaches of 50-50 Senate for Democrats | W
Europe
Germany Arrests Extremists in Plot to Overthrow Government | W
China
China Scraps Most Covid Testing, Quarantine Requirements in Policy Pivot | W
'Too many positives!': As China rows back COVID curbs, virus fears spread | R
Rich Chinese keep spending while others cut back: McKinsey survey | C
Japan
Japan upgrades Q3 GDP as global recession, COVID risks linger | R
Geopolitics & trade
U.S., Europe Need a Grand Bargain on Semiconductors and Electric Vehicles to Counter China | W
December 07 (Wednesday)
Latest Morning Briefing Executive Summary: On Bonds & Europe
Bond yields aren’t determined as much by supply and demand as they are by investor expectations regarding inflation and the Fed’s likely response to it. But it’s helpful to stay aware of the latest supply-and-demand-related developments in the bond market, which we review today. … Also: The EU has been doing a remarkable job of finding alternative fuel sources to replace energy imports from Russia. If a war-provoked energy crisis this winter causes a recession in Europe, chances seem good that it’ll be mild and brief.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 5.
Markets
S&P 500 closes lower for a fourth straight day as recession worries jolt markets | C
Stocks Tumble After Strong Data Raises Rate Fears | W
Oil Prices and Energy Stocks Are Headed in Different Directions. What Gives? | W
Energy
Europe Can’t Count On U.S. Shale To Make Up For Russian Crude | OilPrice.com
Analysis: G7 Russian oil price cap evolves from revenue squeeze to market anchor | R
The $60 price cap on Russian oil, explained - Vox
Oil Price Cap Triggers Tanker Traffic Jam in Turkish Straits | W
Central banks
Fed to Weigh Higher Interest Rates Next Year While Slowing Rises This Month | W
Global
High Debt Levels Could Pressure Developing Countries as Global Economy Slows | W
US
America’s $66 trillion in debt that could crash the economy | P
Trump Organization, owned by Donald Trump, convicted in tax fraud case | C
Japan
Japan business mood up, global slowdown weighs on outlook -poll | R
Geopolitics & trade
U.S., EU Agree to Coordinate Semiconductor Subsidy Programs | W
TikTok National-Security Deal Faces More Delays as Worry Grows Over Risks | W
Industries & companies
Banking: Sen. Brown introduces bill to close 'shadow' banking loophole after Elon Musk says Twitter will process payments | C
Tech: Meta’s Targeted Ad Model Faces Restrictions in Europe | W
Technology
Bezos' space company teams with Lockheed, Boeing for NASA moon pitch | C
Crypto
Former FTX engineer quietly became millionaire Democratic donor | C
December 06 (Tuesday)
Latest Morning Briefing Executive Summary: Earnings Matters
Industry analysts following S&P 500 companies collectively lowered their earnings sights for this year and next when they heard Q3 earnings reports. The past three weeks have brought a reprieve in the estimate cutting, but will Q4 earnings reporting season revive it? Our soft-landing economic forecast suggests forward earnings moving sideways, not dropping, through H1-2023. … Also: PMIs correlate with the growth rates of S&P 500 earnings and revenues, and the latest readings yield insights into consumer spending patterns and inflationary pressures. … And: There’s no simple rule of thumb for when to over- and under-weight stocks of various capitalization sizes, but there are specific economic conditions that can guide the decision.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on December 5.
Markets
China’s Covid Easing Fuels Stock-Market Hopes—and Fans Fears | W
Energy
Europe’s Energy Crisis Is Reshaping Geopolitics | OilPrice.com
Russian oil cap: EU ministers insist it'll work despite Kremlin's opposition | C
Oil Prices and Energy Stocks Are Headed in Different Directions. What Gives? | W
Renewables to be main source of electricity generation by 2025: IEA | C
US
Housing Costs, Inflation’s Biggest Component, Are Poised to Ease | W
Jamie Dimon says inflation eroding consumer wealth may cause recession next year | C
Warnock, Walker Wrap Up Senate Runoff Campaign as Georgia Voters Head to Polls | W
Inside the fight for an end-of-year deal to expand the child tax credit | Vox
Europe
Germany: EU shouldn't borrow more to compete with U.S. green subsidies | C
China
Beijing drops COVID testing burden as wider easing beckons | R
China's Covid lockdowns are having a lessening impact on its economy | C
Industries & companies
Airlines: United CEO says business travel has 'plateaued' but revenue is still rising | C
Airlines: Airlines warn of higher fares from green transition | R
Autos: Ford CEO says 65% of U.S. dealers agree to sell EVs | C
Real Estate: Investors Yank Money From Commercial-Property Funds, Pressuring Real-Estate Values | W
Retail: Inflation still a problem for Americans, Walmart CEO says | C
Corporate finance
NRG Energy to Buy Vivint Smart Home for $2.8 Billion | W
Microsoft offers Sony 10-year deal for Call of Duty on PlayStation | C
December 05 (Monday)
Latest Morning Briefing Executive Summary: Don’t Stop Thinking About Tomorrow
We’ll be glad to put this year behind us—pessimism reigned as inflation raged, the Fed tightened, and investors revalued stocks downward. But the resultant bear market was a mild one as bear markets go. If it ended on October 12, as we believe, the S&P 500 actually was in bear-market territory—down more than 20%—for only 45 days of the 282-day span. … Next year, the economic backdrop should be more bullish as inflation moderates and rising wages outpace rising prices. We expect a soft landing, not a recession. … Longer term, we stand by our “Roaring 2020s” thesis, anticipating that labor shortages and technological advances will unleash a productivity boom.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 28.
Markets
Dow Shines as Higher Rates Squeeze Nasdaq’s Tech Stocks | W
Small-Cap Stocks Are Some of the Best Buys in the Stock Market | BR
China’s Stock Market Is Seeing a Rebound. But It Might Not Last Long. | BR
Bonds Are Primed for a Better 2023, but How Much Better? | W
Central banks
A Central Bank That Raised Rates Early Now Talks Up Recession | W
The Fed's path to a 'Goldilocks' economy just got more complicated | C
Energy
OPEC+ keeps steady policy amid weakening economy, Russian oil cap | R
OPEC+ Keeps Oil Curbs Despite Russia Price Cap | W
OPEC+ meeting: Oil producer group in focus ahead of Russia sanctions | C
Russia will not export oil subject to Western price cap, deputy prime minister says | R
US
Economists Think They Can See Recession Coming—for a Change | W
Is the Housing Market Headed for a Big Crash? What's Ahead for Real Estate. | BR
Employers Try to Hold Line on Wages, With Mixed Success | W
Companies need to increase salary transparency or workers will quit | C
China
Manufacturing orders from China down 40% in demand collapse | C
China Loosens Covid Restrictions as Public Anger Simmers | W
Chinese cities ease curbs, full zero-COVID exit seen some way off | R
Xi Jinping’s zero-covid policy has turned a health crisis into a political one | E
The protests in China may change the way Xi Jinping runs the country, says Minxin Pei | E
The Chinese government exercises control through local busybodies, explains Lynette H. Ong | E
Geopolitics & trade
U.S. intel chief on Russia using up ammunition in Ukraine | C
Chinese Solar Manufacturers Dodged U.S. Tariffs, Probe Finds | W
Poor Countries Feel Sting of Local-Currency Debt | W
Industries & companies
Airlines: Delta pilots would get more than 30% in pay raises under new contract deal | C
Housing: The Housing Boom Is Over. But Housing Stocks Could Still Be Winners. | BR
Media: Who will be Disney's next CEO? Top contenders to succeed Bob Iger | C
Tech: Apple Makes Plans to Move Production Out of China | W
Tech: Business-Software Companies Say Customers Are Pulling Back Amid Economic Concerns | W
Crypto
Can You Buy Bitcoin Without an Exchange Like FTX? We Tried. | BR
FTX Founder Sam Bankman-Fried Says He Can’t Account for Billions Sent to Alameda | W
Clashes Over FTX Bankruptcy Go Global | W
Beyond markets
Parents Who Share Info About Their Kids Online Are a Cybersecurity Risk. Here’s Why. | W
Billions in Covid Aid Went to Hospitals That Didn’t Need It | W
December 02 (Friday)
Latest Morning Briefing Executive Summary: Powell, Onshoring & Tech
Reassurance from Fed Chair Powell yesterday that the Fed would proceed on its tightening course with “moderation,” to avoid setting off a recession, was music to investors’ ears—lifting stock prices and lowering bond yields. Today, we look at the words that had such a palliative effect on markets and recap Powell’s main points, especially about inflation. … Also: Rising reshoring and FDI trends suggest a revival of US manufacturing, which will benefit supply chains and labor markets. … And: Jackie examines the reasons for tech stocks’ recent malaise.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 28.
Central banks
ECB’s Lagarde Leads Chorus Warning That Inflation Must Be Anchored | B
Column: Powell wisely passes up financial conditions 'open goal': McGeever | R
Jobs Report Keeps Federal Reserve on Track for 0.5-Point Rate Rise | W
Energy
Gas Prices Are Dropping: Here’s How Much Lower They Might Go | W
Lack of Wind Pushes Europe’s Power Prices Higher, Just as Cold Sets In | W
OPEC meeting: Oil output cuts on the table ahead of Russia sanctions | C
EU, G-7 Wait on Poland to Advance Russian Oil-Price Cap | W
Why Silicon Valley is so hot on nuclear energy | C
US I
Jobs report November 2022: Payrolls and wages blow past expectations and flying in the face of Fed rate hikes | C
November Employment Report Shows U.S. Economy Added 263,000 Jobs | W
U.S. job growth strong in November; wages rise | R
How COVID-19 transformed the jobs market | The Hill
US II
Railroad strike: How the trains are getting longer and the job is getting worse. | slate.com
Opinion | The Rail Strike Is a Chance For Biden to Prove He Really Is a Pro-Union President | N
Next steps on the Child Tax Credit | brookings.edu
China
China Turns to Well-Worn Playbook to Keep Protesters Off Streets | W
China Clamps Down on Internet as It Seeks to Stamp Out Covid Protests | W
Inside China's fight over the future of zero-COVID | R
China people worry wrong Covid test results mean pandemic won't end | C
Geopolitics & trade
The U.S. wants the EU to be strict with China. But Europe can't afford it | C
European Frustration Over U.S. Subsidies Mounts Ahead of Key Meeting | W
Russia 'open' to talks on Ukraine but presses demands after Biden comment | R
Chinese Solar Manufacturers Are Evading Tariffs, US Finds | B
Industries & companies
Financials: Bank of America, Citigroup, JPMorgan, Goldman Cut Banker Bonuses | B
Tech: Tech layoffs leave visa holders scrambling for jobs to remain in U.S. | C
Crypto
Is cryptocurrency still a good investment? | The Week
FTX: DOJ watchdog calls for review over crypto fraud allegations | C
December 01 (Thursday)
Latest Morning Briefing Executive Summary: Powell, Onshoring & Tech
Reassurance from Fed Chair Powell yesterday that the Fed would proceed on its tightening course with “moderation,” to avoid setting off a recession, was music to investors’ ears—lifting stock prices and lowering bond yields. Today, we look at the words that had such a palliative effect on markets and recap Powell’s main points, especially about inflation. … Also: Rising reshoring and FDI trends suggest a revival of US manufacturing, which will benefit supply chains and labor markets. … And: Jackie examines the reasons for tech stocks’ recent malaise.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 28.
Markets
S&P 500 ends 3-day losing streak. Dow jumps 700 points after Powell signals smaller rate hikes | C
Central banks
Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December | W
Fed Chair Jerome Powell says smaller rate hikes could come in December | C
Fed's Powell: Rate hikes to slow, but adjustment just beginning | R
US
House Approves Imposing Railroad Labor Deal, Paid Sick-Leave Measure | W
Some Rail Workers, Seeking Sick Days, Say Biden Betrayed Them | N
U.S. Economic Growth Slowed This Fall, Fed’s Beige Book Says | W
Third-Quarter U.S. Growth Was Stronger Than Previously Thought | W
Companies are cutting Zoom accounts and office space instead of jobs - Vox
China
Overseas Chinese step up protests as calls mount for change | R
China’s Covid Protests Began With an Apartment Fire in a Remote Province | W
Proud, Scared and Conflicted. What the China Protesters Told Me. | N
Industries & companies
Media: EU warns Musk that Twitter faces ban over content moderation -FT | R
Media: Disney warns restructuring could result in impairment charges | R
Tech: Mark Zuckerberg says Apple's app store policies are not 'sustainable' | C
Crypto
Bitcoin Family moving more than $1 million into DEXs after FTX collapse | C
‘No Cooperation’: How Sam Bankman-Fried Tried to Cling to FTX | N
UK charity backed by Bankman-Fried sounds alarm to British regulators | C
Crypto exchange Kraken lays off 1,100 employees | C
Technology
Elon Musk's Neuralink Hopes for Approval to Implant a Computer in a Human Brain | B
Beyond markets
Megalopolis: how coastal west Africa will shape the coming century | Africa | The Guardian
November 30 (Wednesday)
Latest Morning Briefing Executive Summary: 2024 Is Coming!
As 2023 approaches and progresses, it will be the 2024 outlook that the stock market increasingly will discount. Today, we examine the stock market equation P = P/E x E, with E representing S&P 500 forward earnings, in the context of both the consensus and our expectations for earnings and the economic backdrop next year and in 2024. … Also: The inverted yield curve is predicting neither a credit crunch nor a recession, in our view. This time, it may be anticipating a hasty retreat of inflation. That could mean that the yields on both the 2-year and 10-year Treasuries are peaking.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 28.
Markets
The Best Stocks to Buy Next Year as Inflation Dies | InvestorPlace
Junk Bonds Rally as Investors Speculate Inflation Has Peaked | W
Central banks
Eurozone Inflation Eased in November, but Further Rate Rises Likely | W
Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession | C
US
Job Openings Report to Indicate Tightness of Labor Market | W
Private hiring increased by just 127,000 jobs in November, well below estimate, ADP reports | C
Mortgage rates fall for the third straight week, but demand still drops further | C
What Congress could do to avoid a rail strike — and why unions are upset | Vox
China
Two Chinese cities ease COVID curbs after protests spread | R
Jiang Zemin, Leader Who Presided Over China’s Economic Rise, Dies at 96 | W
Geopolitics & trade
Chinese Startups Try to Make It Big in the U.S.—but Without the Backlash | W
Why Macron? Biden state dinner highlights France's U.S. appeal | R
Industries & companies
Media: Opinion | Why Disney Fans Celebrated the Firing of Bob Chapek | N
Retail: Amazon records biggest ever Thanksgiving shopping weekend | Reuters
Crypto
European Central Bank says bitcoin is on the 'road to irrelevance' | C
Early Alameda Staffers Quit After Battling Sam Bankman-Fried Over Risk, Compliance Concerns | W
Climate
COP27's green agenda will leave many out in the cold this winter | WT
November 29 (Tuesday)
Latest Morning Briefing Executive Summary: Anxious Index
If the economy is in for a hard landing next year, it would be the most widely anticipated recession ever. The Philly Fed’s survey of forecasters, the WSJ’s survey of economists, and even the Misery Index that reflects the sum of unemployment and inflation rates point to a recession. … But we think this time is different. There’s been no broad-based credit crunch, liquidity is ample, consumer incomes are growing, multi-family housing remains strong, capital spending does too, and fiscal stimulus has been gushing. Real GDP shouldn’t contract in such an environment but grow, slowly but surely. We’re in the soft-landing camp.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 28.
Markets
Dow tumbles 500 points but could actually end the year in the green | NN
Stocks close lower, Dow drops nearly 500 points as supply chain concerns mount amid protests in China | C
Central banks
Fed has 'a ways to go' on interest rate hikes, Bullard says | R
Fed’s Williams Says Inflation Fight Could Last Into 2024 | W
Resolute and Mindful: The Path to Price Stability | FRBSF
US
400 groups urge U.S. lawmakers to take 'immediate steps' to block potential rail strike | R
Job Cuts in Tech and Banking Don't Mean Mass Layoffs in Looming Global Recession | B
Joe Biden wastes billions on COVID boosters vaccines | P
China
China Clamps Down on Protesters Against Zero-Covid Policies | W
Chinese Protests Put Xi Jinping in a Bind | W
Protests against Covid controls erupt across China | C
Geopolitics & trade
White House Says Chinese Have a Right to Peacefully Protest | W
Russia Cancels Arms-Control Talks, U.S. Says | W
Industries & companies
Media: Elon Musk claims Apple has threatened to remove the Twitter app | C
Retail: Returns Are the Retail Industry’s Quietly Mounting Logistics Problem | W
Tech: Exclusive: Microsoft likely to offer EU concessions soon in Activision deal -sources | R
Crypto
BlockFi Bankruptcy: More Crypto Trader Funds Trapped After FTX Collapse | B
How FTX 'death spiral' spelled doom for BlockFi, according to filing | C
FTX: The Enron case on steroids, fueled by woke capitalism | The Hill
Corporate finance
Shell to Buy Biogas Producer in $2 Billion Deal | W
Climate
U.S. warns California cities possible water cuts in fourth dry year | C
Hawaii’s Mauna Loa Volcano Is Erupting for the First Time Since 1984 | W
Idealab, Heliogen founder Bill Gross sold solar energy kits in 1973 | C
ESG
Sign of the times: BlackRock closes ESG fund due to lack of interest, amid poor performance - Citywire | Twitter
Populist House Republicans Picking a Fight With US Business Over ‘Woke Capitalism’ | R
November 28 (Monday)
Latest Morning Briefing Executive Summary: 2023 Is Coming!
The consensus is now bracing for a 2023 recession that tempers inflation and ends the Fed’s reign of tightening but also depresses corporate earnings, suggesting more downside for stocks’ valuation multiples. We’re more optimistic, expecting no broad-based recession but a rolling one, no continued bear market in stocks but sluggish earnings limiting their upside. … Both scenarios hinge on inflation: If it remains persistently high despite having peaked, expect a broad-based recession and all that entails. If not, the 2023 outlook will be brighter. … Also: A look at data supporting both soft- and hard-landing scenarios. … And: What the Fed might do next.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 14.
Markets
Stocks Are on the Rise, but Earnings Could Drag Them Down Again | W
Xi Jinping’s big bang for Chinese stock markets | E
Oil Prices Face Fresh Volatility With New Russia Sanctions, OPEC Decision | W
Global
Globalized Supply Chain Brings More-Turbulent Food Prices | W
Energy
The Next U.S. Energy Revolution Is Here | BR
The costs and consequences of Europe’s energy crisis are growing | E
US I
Why the nation is once again close to a devastating freight railroad strike | MSN
With unions aligned, timeline for rail strike and railroad emergency prep is now clear | MSN
Biden’s Railroad Deal Falls Apart | W
US II
New Help for a Group at Risk for Suicide: Middle-Aged Men | W
California’s Homelessness Problem Pits Gov. Gavin Newsom Against Mayors | W
Employers Rethink Need for College Degrees in Tight Labor Market | W
Europe
German Consumers Are Boosting the Economy. These Stocks Stand to Gain. | BR
Europe faces an enduring crisis of energy and geopolitics | E
China
China’s Economy Faces Challenges Despite Latest Moves to Stimulate Growth | W
Clashes in Shanghai as COVID protests flare across China | R
Protests against Covid controls erupt across China | C
China Could Reignite Its Growth. How to Play It While Limiting Risks. | BR
Geopolitics & trade
In Ukraine, living as normal is an act of defiance | E
Zelenskiy warns Ukraine to brace for more Russian attacks | R
South Korea govt plans first talks with striking truckers | R
Industries & companies
Logistics: The Logistics and Supply-Chain Slowdown Has Begun. Here’s How to Take Advantage. | W
Media: Disney is the biggest winner and loser at the Thanksgiving box office | C
Retail: Black Friday online sales top $9 billion in new record | C
Retail: Black Friday 2022: Walmart overtakes Amazon in shoppers' search for bargains | C
Tech: Tech's reality check: How the industry lost $7.4 trillion in one year | C
Technology
Quantum Computing Will Change the World. How to Play the Stocks. | BR
Beyond markets
Caroline Ellison Was a Little-Known Crypto Trader. Then FTX Collapsed. | NYT
What is long-termism? | E
The U.S. is 'certainly' still in a Covid-19 pandemic, Dr. Fauci says | C
November 21 (Monday)
Latest Morning Briefing Executive Summary: Thanksgiving In The Twilight Zone
While Covid-19 has upended life the world over, Americans have plenty of blessings to count this Thanksgiving. The US economy continues to grow, employment continues to expand, and consumers continue to spend. Although the single-family housing industry is in recession, multi-family housing starts are going strong. The auto industry is also doing well despite tighter credit conditions. Capital spending remains robust. The nasty supply-chain disruptions that had fueled high inflation appear to be over. And the US fossil fuel industry not only is meeting domestic energy needs but exporting to help meet Europe’s.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 14.
Markets
Energy shares, China COVID cases weigh on Wall St; Disney jumps | R
Central banks
Fed’s Aggressive Rate Hikes Are a Game Changer | W
The Federal Reserve Is Surely Not the Cause of Silicon Valley’s Swinging Ax | FO
Energy
U.S. Crude Oil Price Falls Below $80 a Barrel | W
Saudi Arabia Eyes OPEC+ Output Increase Ahead of Restrictions on Russian Oil | W
America must future-proof its energy sector with nuclear power | Washington Examiner
US
Stressed-Out Americans Plan to Buy Fewer Christmas Gifts, Donate Less to Charity | W
DeSantis, Others Draw Distinctions With Trump in 2024 GOP Nomination Race | W
Democrats must protect Social Security by raising the debt ceiling | The Hill
China
Mainland China reports first Covid-related deaths since Shanghai lockdown | C
Geopolitics & trade
China Turns to Back-Channel Diplomacy to Shore Up U.S. Ties | W
Top Russian official warns of possible nuclear accident at Zaporizhzhia | R
Explainer: Ukrainian nuclear plant shelled: Here's what we know | R
Industries & companies
Media: How Elon Musk is changing Twitter, from mass layoffs to check marks | Vox
Media: 'It's over': Twitter France's head quits amid layoffs | R
Media: Disney blindsided Chapek with decision to replace him with Iger | C
Retail: Retailers Are Expecting Unpredictable Holiday Sales. These Companies Will Come Out On Top. | BR
Corporate finance
Biden grants PG&E $1.1 billion to keep Diablo Canyon nuclear plant open | C
Crypto
Is this the end of crypto? | E
Collapsed crypto exchange FTX owes top 50 creditors $3 billion: Filing | C
Beyond markets
NASA's Orion spacecraft flies by the moon on Artemis 1 mission | C
Opinion | Musk, Bezos, Bankman-Fried, Trump: It Was a Bad Week for Billionaires | N
Sam Bankman-Fried tries to broker FTX bailout from his Bahamas home | C
November 19 (Saturday)
Latest Morning Briefing Executive Summary: On Consumers, Chips & The Oceans
Consumers are still spending robustly in many categories, as the surprisingly strong retail sales report for October showed. But Walmart and Target brass speaking on Q3 conference calls described heightened budget consciousness across income demographics. And while consumers have income, their balance sheets have been weakening as they take on more debt. … Are semiconductor stocks becoming attractive at their depressed valuations? Perhaps, but news this week reminds us why valuations are so depressed—demand is weak and analysts pessimistic. … Also: The oceans are about to get greener if innovative solutions employing AI, 3D printing, and low-tech dragnets succeed.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 15.
Markets
S&P 500 closes higher on Friday, but ends week with losses | C
Higher Rates Mean “Bonds Are Back,” JPMorgan’s Michele Says | B
Central banks
NY Fed: Bank liquidity may be tighter than thought, with policy implications | R
Fed’s Susan Collins Says Her View on Rate Hikes Unchanged by Recent Data | B
US
U.S. Home Sales Fell for Ninth Straight Month in October | W
As Republicans Take Command in House, Fight Over 2023 Farm Bill Looms | W
Geopolitics & trade
North Korea’s Kim Reveals Daughter to Public at ICBM Launch | B
Larry Summers Warns Very Risky for US to Aim at ‘Tearing China Down’ | B
Industries & companies
Airlines: What Do the Worst (and Best) Airports Look Like? Ask United Airlines | W
Autos: Tesla recalls 321,000 U.S. vehicles over rear light issue | R
Media: Musk’s Twitter Fix-It Team Fades Out as Billionaire Says Transition Is Almost Done | B
Retail: Home Depot and Lowe's are booming in a housing market bust | C
Retail: Follow these rules from experts to get the most out of Black Friday | C
Tech: Why Everything in Tech Seems to Be Collapsing at Once | The Atlantic
Theme Parks: Disney Parks’ Ride Stoppages and Wait Times Grow as Ticket Prices Rise | W
Corporate finance
How Did AT&T’s $100 Billion Time Warner Deal Go So Wrong? | N
Climate
COP27 Agrees on Loss and Damage Fund for Vulnerable Countries, Officials Say | W
Crypto
They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire | W
FTX launches strategic review, seeks court relief to pay critical vendors | C
Beyond markets
Theranos founder Elizabeth Holmes sentenced to over 11 years in prison | C
November 18 (Friday)
Latest Morning Briefing Executive Summary: On Consumers, Chips & The Oceans
Consumers are still spending robustly in many categories, as the surprisingly strong retail sales report for October showed. But Walmart and Target brass speaking on Q3 conference calls described heightened budget consciousness across income demographics. And while consumers have income, their balance sheets have been weakening as they take on more debt. … Are semiconductor stocks becoming attractive at their depressed valuations? Perhaps, but news this week reminds us why valuations are so depressed—demand is weak and analysts pessimistic. … Also: The oceans are about to get greener if innovative solutions employing AI, 3D printing, and low-tech dragnets succeed.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 15.
Markets
Wall Street seen opening higher but U.S. recession priced in | R
‘Exhausted’ sellers are behind the market’s strength | C
Central banks
Fed's Bullard says rate hikes have had 'only limited effects' on inflation so far | C
ECB begins great cash mop-up as banks repay 296 bln euros of loans | R
Energy
Nord Stream: Sweden says explosives found at site of Russian pipelines | C
Oil heads for second weekly decline as demand concerns weigh | R
'Indiscriminate use of hydrogen' could slow energy transition: Report | C
US
Stagnant Scientific Productivity Holding Back Growth | W
Inflation and Unemployment Both Make You Miserable, but Maybe Not Equally | W
60% of Americans live paycheck to paycheck heading into 2022 holiday | C
Fearing Future Losses, More Republicans Look to Move On From Trump | W
China
Column: China’s fast-growing renewables limit coal generation | R
Industries & companies
Autos: GM investor day: Barra expects EV profit to be comparable to gas vehicles by 2025 | C
Media: What Elon Musk memo to Twitter workers means for his FTC troubles | MSNBC
Media: After Elon Musk's ultimatum, Twitter employees start exiting | R
Retail: Early Black Friday 'deals' abound, but actual bargains are scarce | R
Tech: Meta Employees, Security Guards Fired for Hijacking User Accounts | W
Crypto
Opinion | Is This the End Game for Crypto? | NYT
Crypto firm Multicoin says contagion fallout from FTX will continue | C
Interview: Fallen crypto CEO Sam Bankman-Fried opens up about FTX, Alameda Research, and his regrets | Vox
FTX filing reveals slipshod accounting, freewheeling expenses, perks | C
FTX Disclosed Related-Party Transactions but Didn’t Name Names | W
Beyond markets
Taylor Swift public ticket sale canceled over extreme demand, Ticketmaster says | C
November 17 (Thursday)
Latest Morning Briefing Executive Summary: On Consumers, Chips & The Oceans
Consumers are still spending robustly in many categories, as the surprisingly strong retail sales report for October showed. But Walmart and Target brass speaking on Q3 conference calls described heightened budget consciousness across income demographics. And while consumers have income, their balance sheets have been weakening as they take on more debt. … Are semiconductor stocks becoming attractive at their depressed valuations? Perhaps, but news this week reminds us why valuations are so depressed—demand is weak and analysts pessimistic. … Also: The oceans are about to get greener if innovative solutions employing AI, 3D printing, and low-tech dragnets succeed.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 15.
Markets
Stocks Slip After Retail Sales Top Forecasts | W
Central banks
Reducing Inflation Without a Recession Might Not Be Feasible, Fed Official Says | W
Fed's Waller says he's open to a half-point hike at December meeting | C
Yellen Meets China’s Central Bank Governor as U.S. Seeks to Repair Ties With Beijing | W
US
U.S. Consumers Show Strength With Jump in Retail Sales | W
Republicans win U.S. House majority, setting stage for divided government | R
How to stop inflation | WT
Industries & companies
Autos: Elon Musk Recently Floated Possibility of Having a Successor at Tesla, a Board Member Says | W
Home Builders: Home-Builder Stocks Stage Big Rebound | W
Tech: Micron to Cut Production of Memory Chips | W
Theme Parks: Disney World Announces Another Round of Price Increases | W
Geopolitics & trade
Missile Blast in Poland Risked Russia-NATO Clash Before Both Sides Dialed Back | W
Targeting of Ukrainian energy grid is a war crime, Pentagon says | C
Putin calls for price controls as Russian car sales crash to record low | R
Analysis: China's freeze on Taiwan contact fuels worry as tensions build | R
Crypto
Gemini, BlockFi, Genesis announcing new restrictions as FTX contagion spreads | C
Sam Bankman-Fried, FTX, and the beginning of the crypto ice age | Vox
FTX wanted to let investors borrow to trade derivatives: CFTC head | C
How Sam Bankman-Fried's FTX-Alameda crypto empire vanished overnight | C
Beyond markets
ESG: BlackRock’s Hard Place | National Review
November 16 (Wednesday)
Latest Morning Briefing Executive Summary: On Inflation & Financial Stability
The inflation-is-peaking euphoria that’s driven the stock market skyward in recent days adds to our confidence that the bear market bottomed on October 12. … The latest batch of inflation indicators was mixed but overall suggests progress in the right direction, which may mean the Fed has done enough tightening already. … Don’t fear systemic effects from the bursting of the cryptocurrency bubble—US banks are just fine. … Also: Melissa examines what the Fed thinks about the resilience of the US financial system, recapping points from its latest Financial Stability Report.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 15.
Markets
S&P 500 closes higher after another lighter-than-expected inflation report, Nasdaq jumps 1.4% | C
Wall Street gains on inflation data, but rocky on geopolitics | R
Central banks
Banking giants and New York Fed start 12-week digital dollar pilot | R
Energy
Russian Oil Exports Hold Up Despite Impending EU Ban | W
Half of France’s Nuclear Plants Are Off-Line | N
US
U.S. Supplier Price Increases Eased in October, Taking Pressure Off Inflation | W
Mortgage Rates Are High Because Nobody Is Buying Mortgages | W
Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says | C
Republicans on Verge of Retaking House as Counting Continues | W
As Trump readies possible 2024 White House run, GOP megadonors back DeSantis, Youngkin, other Republicans | C
Uncle Sam is playing the same game as broke, disgraced crypto king | P
Gen Z Really Does Have It Harder Than Millennials | Manhattan Institute
China
China’s Economy Takes a Deeper Hit as Retail Sales Turn Negative | W
Japan
Japan’s Economy Shrinks Unexpectedly, Hit by a Weak Yen and Rising Inflation | N
Geopolitics & trade
Biden-Xi Talks Mark Shift in U.S.-China Ties Toward Managing Fierce Competition | W
The U.S.’s Struggle to Wean Itself From Chinese Solar Power | W
G20 Leaders Meet in Bali as Global Economy Faces Multiple Threats | N
Poland says a Russian-made missile fell inside their country, killing 2 | C
Industries & companies
Autos: Consumer Reports: New technologies make EVs less reliable | C
Autos: Tesla cuts delivery waiting time for all model 3, model Y cars | R
Autos: Musk's all-nighters at Twitter raise concern for Tesla investors | R
Autos: Ford says making its own parts for electric vehicles could offset job losses | C
Retail: Walmart Sales Rise as Retail Giant Gains More Shoppers | W
Tech: Tech stocks have been crushed. What's next for the FAANGs? | NN
Tech: Microsoft, Meta, others face rising drought risk to their data centers | C
Corporate finance
Estée Lauder Agrees to Buy Tom Ford Brand in $2.8 Billion Deal | N
FTX
How Sam Bankman-Fried's FTX-Alameda empire vanished overnight | C
FTX Founder Sam Bankman-Fried Attempts to Raise Fresh Cash Despite Bankruptcy | W
FTX’s Collapse Casts a Pall on ‘Effective Altruism’ Movement | N
Fed’s Michael Barr Says Crypto Turmoil Highlights Potential Risks to Financial System | W
Climate
New Climate Early Warning System Aims to Plug Weather Blind Spots Around the World | W
November 14 (Monday)
Latest Morning Briefing Executive Summary: On Earnings & Inflation
Economic recessions invariably produce earnings recessions, but earnings slowdowns and downturns can occur without economic recessions: Nominal GDP and revenues growth can stay strong as profit margins narrow, causing earnings growth to falter. That’s what seems to be happening now, with the earnings weakness looking like that of a soft, not hard, landing. Whether that changes up ahead depends much on what happens to profit margins. … In this context, Joe discusses the latest earnings results for Q3, explaining how to interpret the results supplied by two different data providers. …And: A look at the components of October’s CPI results, which cheered the stock market at the end of last week. ... Also: Feshbach sees trading range ahead.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 7.
Markets
These currencies have tanked this year — and one is down over 75% against the dollar | C
Central banks
Japanese Inflation Shows Signs of Easing, Kuroda Says | W
Global
IMF says global economic outlook getting 'gloomier', risks abound | R
G-20 Discord Likely to Thwart Efforts to Boost Sagging Global Economy | W
U.S. may skirt recession in 2023, Europe not so lucky - Morgan Stanley | R
Energy & climate
The global energy crisis may be accelerating decarbonisation efforts, says Fatih Birol | E
'Vaccination-style' intervention needed for UK energy crisis: Ovo CEO | C
The 'world's largest floating wind farm' produces its first power | C
Used-Car Dealer Tricolor Became an ESG Favorite Amid Customer Complaints and Expensive Cars | BR
US
House Majority Undecided as Democrats Keep Senate Control | W
Labor Market Mystery: Where Are the Older Gen Z Workers? | W
China
China Dials Back Property Restrictions in Bid to Reverse Economic Slide | W
Industries & companies
Autos: Ford vs. GM: Same industry, two increasingly different companies | C
Retail: Retailers Are Already Offering More Holiday Sales. What to Watch. | BR
Retail: Retailers' biggest holiday wish is to get rid of all that excess inventory | C
Tech: Tech Companies Won Big in the Midterm Elections. Here’s Why. | BR
Geopolitics & trade
Biden, Xi stress need to work together as they meet for talks | R
Germany is open to trade with China — but we're not stupid, vice chancellor says | C
On what terms could the war in Ukraine stop? | E
FTX
The FTX debacle makes SEC Chair Gensler look bad—again | Fortune
FTX’s Digital Coin Was at Heart of Crypto Exchange’s Fall | W
Sam Bankman-Fried’s Alameda quietly used FTX customer funds without raising alarm bells, say sources | C
Beyond markets
Elon Musk says 'I have too much work on my plate' | R
Can You Tell Whether This Headline Was Written by a Robot? | W
November 12 (Saturday)
Latest Morning Briefing Executive Summary: On Transports, Oil & Climate Change
Does the recent rally in the S&P Transports signal that investors think transportation stocks have been beaten down enough so far this year? Will they continue to chug uphill despite the drag from slowing fundamentals? Jackie examines the challenges up ahead for shippers, truckers, railroads, and air freight and logistics companies; airlines, though, seem headed for blue skies. … Also: A look at the oil market’s tug of war between China’s downward pressure and Russia’s upward pressure on prices. … And: Today’s Disruptive Technologies segment focuses on news from the UN’s international climate change conference, COP27.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 7.
Markets
Stocks Extend Rally After Inflation Slowdown | W
Nasdaq adds 1.9%, S&P 500 closes nearly 1% higher and notches best week since June | C
Wild Stock Spike Revives Is-This-the-Bottom Debate for Third Time This Year | B
Central banks
Krugman Says the Fed Should Pause Rate Hikes, Has Done Enough | B
Energy
Growing number of Germans won't be left in dark with blackout courses | R
EXCLUSIVE India can buy as much Russian oil as it wants, outside price cap, Yellen says | R
US
Inflation Report: What Costs More—and Less | W
Arizona Senate: Mark Kelly beats Trump GOP pick Blake Masters, NBC News projects | C
Trump on defense after weak GOP midterms, raising questions about 2024 | C
China
China Eases Zero-Covid Rules as Economic Toll and Frustrations Mount | W
Geopolitics & trade
U.S. Downgrades Russia to Nonmarket Economy | W
Industries & companies
Consumer discretionary: A first look at Amazon's new delivery drone | C
Media: Disney plans layoffs, hiring freeze, cost cuts, CEO Bob Chapek says in memo | C
Utilities: The U.S. Electric System Is Leaning on Customers to Avoid Blackouts | W
Crypto
Exclusive: At least $1 billion of client funds missing at FTX | R
FTX Files for Bankruptcy, CEO Sam Bankman-Fried Resigns | W
FTX founder Sam Bankman-Fried says he is in the Bahamas | R
Climate
This Former BlackRock Executive Says ESG Investment Model Is Broken | W
Carbon Market Under Pressure to Deliver Billions in Climate Funding | W
Beyond markets
From Elon Musk to Sam Bankman-Fried, a bad week for market geniuses | C
November 11 (Friday)
Latest Morning Briefing Executive Summary: On Transports, Oil & Climate Change
Does the recent rally in the S&P Transports signal that investors think transportation stocks have been beaten down enough so far this year? Will they continue to chug uphill despite the drag from slowing fundamentals? Jackie examines the challenges up ahead for shippers, truckers, railroads, and air freight and logistics companies; airlines, though, seem headed for blue skies. … Also: A look at the oil market’s tug of war between China’s downward pressure and Russia’s upward pressure on prices. … And: Today’s Disruptive Technologies segment focuses on news from the UN’s international climate change conference, COP27.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 7.
Markets
Wall Street Goes Crazy: The Numbers | FO
Chinese Stocks Surge as Beijing Eases Some Covid Restrictions | W
Goldman Sachs CEO says he expects a 'reopening' in capital markets next year | C
Rising Interest Rates Hit Banks’ Bond Holdings | W
Central banks
Fed officials welcome October CPI but still see tighter policy ahead | C
Inflation Report Leaves Fed on Track for 0.5-Point Rate Rise in December | W
US
October Inflation Report Shows Consumer Prices Rose 7.7% From Year Earlier | W
It may be cheaper to eat out on Thanksgiving as grocery prices soar | C
Mortgage rates fall sharply to under 7% after inflation eases | C
What midterm voting results tell us about the economy going forward | FO
Midterm Elections Point to Closely Divided House as Voters Shift in Pivotal Districts | W
Midterms: We may not know who controls the Senate until December | C
'Start adding zeroes': Big money expected to pour into Georgia midterm runoff | R
Biden says he plans to run again, to make it final in early 2023 | R
Europe
Price Rises Are Helping European Manufacturers Defy a Downturn | W
China
China Eases Zero-Covid Rules as Economic Toll and Frustrations Mount | W
Geopolitics & trade
Global shipping industry faces a new problem — too many containers | C
Ukrainian official describes chaotic Russian withdrawal from strategic city | R
Corporate finance
SoftBank Posts Profit of More Than $21 Billion After Selling Alibaba Shares | W
Climate
COP27 delegates in Egypt battle a growing list of logistics nightmares | C
Beyond markets
Read Elon Musk's first email to all Twitter employees | C
Healthy infants face considerable risk of RSV hospitalization: study | C
November 10 (Thursday)
Latest Morning Briefing Executive Summary: On Transports, Oil & Climate Change
Does the recent rally in the S&P Transports signal that investors think transportation stocks have been beaten down enough so far this year? Will they continue to chug uphill despite the drag from slowing fundamentals? Jackie examines the challenges up ahead for shippers, truckers, railroads, and air freight and logistics companies; airlines, though, seem headed for blue skies. … Also: A look at the oil market’s tug of war between China’s downward pressure and Russia’s upward pressure on prices. … And: Today’s Disruptive Technologies segment focuses on news from the UN’s international climate change conference, COP27.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 7.
Markets
Wall Street layoffs pick up steam as Citigroup and Barclays cut hundreds of workers | C
China Stocks Slide as Covid Curbs Temper Reopening Hopes | B
US
Frustrated Republicans Try to Explain Lack of Midterm ‘Red Wave’ | W
October CPI seen showing inflation up even as some goods prices cool | C
Democrats Hold Off Steep Losses by Driving Turnout and Winning Independent Voters | W
Control of Congress Remains at Stake as Democrats Fend Off Anticipated ‘Red Wave’ | W
China
China Producer Prices Turn Negative in Warning Sign for Global Economy | W
Column: China reopening may add inflation headache | R
Under Xi Jinping, Women in China Have Given Up Gains | W
Column: China’s diesel exports recover but not enough to reverse global shortage | R
Emerging
Korea Unveils $7 Billion in Financing to Help Property Market | B
Industries & companies
Autos: Tesla stock hits 2-year low after Musk sells $4 bln worth of shares | R
Real Estate: Redfin Shuts Home-Flipping Business, Lays Off 13% of Staff in Slumping Housing Market | W
Geopolitics & trade
Russia says troops leaving strategic Kherson, Ukraine doubts full pullout | R
Russia Orders Withdrawal From Kherson, Only Regional Ukrainian Capital It Held | W
November 09 (Wednesday)
Latest Morning Briefing Executive Summary: On Political Cycles, Earnings Estimates & Fiscal Fatigue
The stock market historically has performed well after midterm elections and during third years of presidential cycles, but none of these positive political cyclical trends will make much difference if inflation remains elevated, which would force the Fed to cause a hard landing of the economy. … Also: Analysts’ earnings estimates are falling mostly because their expectations for margins are falling. We review the relevant data for the S&P 500 sectors. … And: How fiscal policy has contributed to the deficit and inflation.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 7.
Markets
Investors face unclear outcome in midterms, with questions over spending, regulation | R
Oil prices fall 2.5% on U.S. inventory build, China COVID worries | R
Central banks
Some Investors Bet Fed Could Lift Rates to Two-Decade High | W
US
Republican 'red wave' turns into a ripple, Georgia Senate headed to runoff | R
Midterm Election Could Make Democrats Latest Governing Party to Pay Price for Inflation | W
Midterm election results: Trump candidates disappoint on Election Day | C
We’re using 1960s guidance to measure poverty in 2022 | The Hill
Maxwell Frost will be the first Gen Z member of Congress | C
Europe
Europe Doubles Down on Big Government | W
Europe's retailers strive to keep prices low to win struggling shoppers | R
Japan
Japanese Companies Are Making Less but Profiting More Thanks to Weak Yen | W
China
China Producer Prices Turn Negative in Warning Sign for Global Economy | W
China’s Business Elite See the Country That Let Them Thrive Slipping Away | N
Geopolitics & trade
Treasury Chief Janet Yellen Heads to India as U.S. Seeks to Deepen Ties | W
Industries & companies
Communications Services: Meta laying off more than 11,000 employees: Read Zuckerberg's letter | C
Media: Elon Musk’s Twitter is a case study of how not to lay people off | Vox
Media: Elon Musk took over a struggling Twitter and has quickly made it worse | C
Climate
US launches carbon offset program to help developing countries | C
China Resists Climate Pressure From West, but Makes Gains on Its Own | W
November 08 (Tuesday)
Latest Morning Briefing Executive Summary: On Labor, Productivity & Wages
For a variety of reasons, there’s a severe mismatch between the demand for and supply of labor in the US. That’s created a maelstrom in the market, with extraordinary levels of turnover: One third of payroll employees have quit their jobs over the past 12 months, most for higher-paying ones. That’s driving up wage inflation and driving down productivity. … But we still expect productivity to recover this decade as businesses react by investing in productivity-boosting technologies—our “Roaring 2020s” scenario. … While the latest data show some moderation in wage inflation, it probably won’t continue to moderate sustainably until turnover subsides.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on November 7.
Markets
U.S. stocks end higher, Meta jumps as investors eye midterms | R
Stocks Rise Ahead of Midterms, Inflation Data | W
China reopening hopes keep dollar on guard | R
Column: Rebound in China crude oil imports less impressive than it looks: Russell | R
Energy
EU Energy Crisis Sparked by Ukraine War to Create Blackouts in Poor Countries | B
Sanctions on Russian Energy Loom Over Oil Market | W
Central banks
Fed announces another rate hike. But inflation is even more painful. | USA
Fed Will Stick to the Task of Curbing Inflation, Thomas Barkin Says | B
Despite What You’re Told, There Are No ‘Bubbles’ and Certainly No ‘Fed Bubbles’ | FO
BOJ debated impact of future exit from easy policy amid rising prices | R
US
Homeowners have lost over $1 trillion in equity since May | C
Inflation Strains Voters Across Income Levels Ahead of Midterm Elections | W
More Professionals Need to Get Second Jobs Because of Inflation | W
Biden warns on risk to democracy, Trump hints at another run on eve of midterms | R
Musk encourages independents to vote Republican ahead of midterms | C
China
China Weighs Gradual Zero-Covid Exit but Proceeds With Caution, Without Timeline | W
Guangzhou's COVID outbreak deepens as more lockdowns loom in China | R
China’s Exports Drop Sharply as Global Economy Slows | W
Who Is Li Qiang? What Does Xi's New No. 2 Mean for China? | B
China's super-rich see fortunes plunge as economy slows | R
Geopolitics & trade
From Teslas to BMWs, cars are piling up on land and sea at German port | C
Germany likely to block Chinese takeover of Elmos' chip production | R
Corporate finance
Foxconn to become biggest shareholder in Lordstown Motors with up to $170 mln investment | R
Walgreens Unit to Buy Summit Health | W
Beyond markets
Covid’s Drag on the Workforce Proves Persistent. ‘It Sets Us Back.’ | W
November 07 (Monday)
Latest Morning Briefing Executive Summary: Powell Is From Mars, Brainard Is From Venus
Has the stock market been voting early? It‘s up 5% since the S&P 500’s October 12 bottom—which may turn out to be the bear market’s ultimate bottom. Tomorrow’s midterm elections may further boost stock prices in coming months if history is a guide. Our soft-landing economic outlook, if it pans out (60% subjective odds), may be another wind at the stock market’s back. … A headwind last week was Fed Chair Powell’s peak hawkishness, but we expect to hear counterbalancing views from other Fed officials now that their quiet period is over. … Much now—both the economic and financial market outlooks—hinges on inflation reports in coming months. ... On inflation, Brainard makes sense. ... And: Dr. Ed reviews “Don’t Worry Darling” (+ +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 31.
Energy
Mild autumn weather has sent European gas prices plummeting | E
Frackers Say Oil Production Slowing in the Shale Patch | W
Central banks
Housing-Price Inflation Is a Problem. The Federal Reserve Can’t Solve It. | BR
US
Elevated Inflation Presents Risk to U.S. Economy, Fed Report Finds | W
Why the October Jobs Report Is So Strong Despite Tech Layoffs | W
Midterm Election Campaigning Intensifies Across U.S. in Closing Days | W
China
China's exports shrink in October, badly missing expectations for growth | C
The never-ending campaign against graft in China | E
Japan
Japan’s bond-market peg could snap | E
Geopolitics & trade
Senior White House Official Involved in Undisclosed Talks With Top Putin Aides | W
Ukraine warns of more Russian attacks on energy infrastructure | R
Who wins from the unravelling of Sino-American trade? | E
Industries & companies
Communications Services: Meta could begin large-scale layoffs this week, report says | C
Media: Twitter Is Elon Musk’s Biggest Test—and Tesla’s Biggest Challenge. How They’ll Make It Work. | BR
Retail: Inflation, Recession Fears Have Some Holiday Shoppers Trading Down | W
Tech: Apple warns Covid restrictions in China are hurting iPhone production | C
Climate
Climate: COP27 opens with a rallying call for rich nations to pay up | C
The world is missing its lofty climate targets. Time for some realism | E
November 05 (Saturday)
Latest Morning Briefing Executive Summary: On Powell, China, Consumers & AI
Fed Chair Powell’s hawkish press conference yesterday deflated the stock market, but we think the S&P 500 bottomed on October 12 and see a few potentially uplifting developments to come. … Also: What might it take for the China MSCI to start performing better? Jackie considers this question and examines two big issues holding it back. … And: The shift in consumer purchasing patterns from stuff to services was apparent in the Q3 earnings of companies affected both positively and negatively. … Finally, today’s Disruptive Technologies piece showcases the rapidly advancing technology of AI.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 31.
Markets
Stocks Finish Higher After U.S. Jobs Report | W
Goldman Wealth Strategist Sees Buying Opportunity in Stock Slump | B
Warren Buffett’s Berkshire Hathaway Swings to Loss, Stung by Battered Market | W
Climate
Climate Change Eclipsed by Inflation, Crime, Abortion in US Midterm Races | B
Climate activists block private jets at Amsterdam's Schiphol Airport | R
Central banks
Fed Watchers Put ‘Finger in the Air’ and See Rate Peak Above 5% | B
China Investigates Central Bank Deputy Governor in First Major Probe Since Party Congress | W
US
Elevated Inflation Presents Risk to U.S. Economy, Fed Report Finds | W
Why the October Jobs Report Is So Strong Despite Tech Layoffs | W
Jobs Report Shows Payrolls Grew 261,000 in October | W
House hunting this weekend? There's more out there now | C
Obama warns of 'dangerous' U.S. political climate ahead of midterms | R
China
Possible China Covid Reopening Prompts Jittery Markets, Intense Speculation | W
China vows to continue with 'dynamic-clearing' COVID strategy | R
Geopolitics & trade
North Korea Shoots Ballistic Missiles Off Its West Coast | W
Train crosses North Korea border into Russia after arms report, think tank says | R
Ukrainian forces brace for bloody fight for Kherson | R
Ukraine Curbs Power Use as Russian Strikes Take Toll on Electric Grid | W
Industries & companies
Media: Twitter co-founder Jack Dorsey speaks out after mass layoffs | C
Media: Elon Musk Says Twitter Has Had Massive Revenue Drop as Layoffs Begin | W
Retail: Travel has edge over shopping this holiday season amid inflation | C
Retail: Inflation to dampen holiday spending, retail trade group forecasts | C
Tech: For Chip Makers, the Flip from Shortage to Glut Intensifies | W
Crypto
Crypto Firms, Executives Step Up Campaign Donations, Lobbying Ahead of Midterms | W
Beyond markets
This School Took Away Smartphones. The Kids Don’t Mind. | W
What Moneyball Has Done to American Culture | The Atlantic
November 04 (Friday)
Latest Morning Briefing Executive Summary: On Powell, China, Consumers & AI
Fed Chair Powell’s hawkish press conference yesterday deflated the stock market, but we think the S&P 500 bottomed on October 12 and see a few potentially uplifting developments to come. … Also: What might it take for the China MSCI to start performing better? Jackie considers this question and examines two big issues holding it back. … And: The shift in consumer purchasing patterns from stuff to services was apparent in the Q3 earnings of companies affected both positively and negatively. … Finally, today’s Disruptive Technologies piece showcases the rapidly advancing technology of AI.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 31.
Markets
Stocks Finish Lower After Fed Signals Higher Rates | W
Traders scramble for protection after Fed spooks markets | R
Energy
Exclusive: G7 coalition has agreed to set fixed price for Russian oil | R
Oil prices drop as demand fears dominate | R
U.S. sells last batch of emergency reserve oil from historic release | R
Central banks
Fed’s Hard Line on Interest Rates Fuels Bond Rout | W
Bank of England raises rates by most since 1989 even as long recession looms | R
Global
Barclays cuts China GDP after forecasting U.S., Europe recession | C
US
Jobless Claims Remain Low in Tight U.S. Labor Market | W
The guy who inspired the "quiet quitting" movement is back to working 50 hours a week | qz.com
Geopolitics & trade
Taiwan, U.S. to hold in person trade talks next week | C
The Messy Unwinding of the New World Order—in Charts | W
Industries & companies
Media: General Mills, Audi and Pfizer Join Growing List of Companies Pausing Twitter Ads | W
Media: Twitter to begin layoffs Friday, days after Elon Musk's $44 billion takeover | C
Central banks
You Can Thank the Fed for Boosting the $1.5 Billion Powerball Jackpot | W
November 03 (Thursday)
Latest Morning Briefing Executive Summary: On Powell, China, Consumers & AI
Fed Chair Powell’s hawkish press conference yesterday deflated the stock market, but we think the S&P 500 bottomed on October 12 and see a few potentially uplifting developments to come. … Also: What might it take for the China MSCI to start performing better? Jackie considers this question and examines two big issues holding it back. … And: The shift in consumer purchasing patterns from stuff to services was apparent in the Q3 earnings of companies affected both positively and negatively. … Finally, today’s Disruptive Technologies piece showcases the rapidly advancing technology of AI.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 31.
Markets
Stocks Fall After Fed’s Interest-Rate Decision | W
Strategists See EM Asia Getting Sold as Dollar Back on Ascent | B
Big Shorts Are Quickly Turning Dangerous in China’s Wild Market | B
China Says It’s Sticking to Covid Zero, But That Hasn’t Stopped Stock Frenzy | B
Central banks
Fed Statement Tracker | W
Federal Reserve Approves Fourth 0.75-Point Rate Rise, Hints at Smaller Hikes | W
Fed's Powell: 'Ultimate level' of rates likely higher than earlier estimates | R
Fed rate hikes could go even further than expected as Powell commits to stomp out inflation | C
Fed's Powell: 'Soft landing' chances have narrowed | R
Jerome Powell’s Not for Turning—Yet | W
To Solve Inflation, First Solve Deficits, This Theory Advises | W
Energy
Nord Stream 1 operator says it found craters at damaged pipeline site | R
CEOs fixing Biden’s Saudi oil mess because he won’t | P
US
There Is a Painless Way to Fix Inflation | Time
Biden blames extreme MAGA Republicans for intimidating voters and election officials, calling it ‘corrosive’ to democracy | C
China
Who Is China’s New No. 2? A Business Pragmatist or a Party Loyalist? | W
China Tells Officials to ‘Resolutely Adhere’ to Covid Zero | B
Geopolitics & trade
U.S. cautioned Germany against a Chinese controlling stake in Hamburg port | R
North Korea fires multiple ballistic missiles, residents in Japan told to shelter | R
Industries & companies
Airlines: The Weird-Looking, Fuel-Efficient Planes You Could Be Flying In One Day | W
Media: Netflix With Ads Launching as Talks Continue With Studios Over Content | W
Technology
Musk Plans to Eliminate Half of Twitter Jobs to Cut Costs | B
Climate
Climate Change Costs Are Eating Up the Money to Avert It | B
November 02 (Wednesday)
Latest Morning Briefing Executive Summary: On Powell, Inflation & Home Prices
After Fed Chair Powell’s press conference today, investors are bound to see more light at the end of the tightening tunnel. We’re hoping he’ll suggest that just two more 75bps turns of the federal-funds-rate screw—one announced today and another in December—may be tight enough. … Also: We assess the latest persistently high inflation data with an eye toward assessing whether our inflation forecast for the rest of this year is overly optimistic. … And: Housing prices are falling in the wake of rising mortgage rates. But we don’t see the market crashing as in 2007, Melissa explains. The downward drivers then and now are nothing alike.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 31.
Markets
Stocks finish lower as Wall Street braces for key Fed decision | C
China Markets Rally After Unconfirmed Social Posts on Reopening | B
Treasury: Series I bond rate is 6.89% through April 2023 | C
Central banks
Fed seen raising rates by three-quarters of a point, may slow pace ahead | C
Column: Fed may be alert to favoured yield curve alarm | R
Traders Expect Higher Interest Rates to Stay for Foreseeable Future | W
US
Food Prices Soar, and So Do Companies’ Profits | N
JOLTS September 2022 | C
Marcus vs Mortgage: High-Yield Savings Account Rates Beat Some Home Loans | B
Midterm Elections 2022: 5 Key Races That Could Impact Election Security | B
With deep recession coming, Biden prepares by blaming Republicans | P
Europe
Europe Braces for a Winter Without Russian Gas | N
China
Auditor exodus at embattled China property firms triggers governance concerns | R
Emerging
Brazil protests escalate, disrupting fuel, grain and meat industries | R
Brazil President Jair Bolsonaro Pledges to Respect Constitution After Election Loss | W
Industries & companies
Autos: Toyota cuts output target amid chip crunch as profit tumbles 25% | R
Financials: U.S. banks processed about $1.2 billion in ransomware payments in 2021 | C
Media: Elon Musk Wants More Paying Twitter Users, Hinting at $8 a Month for Verified Accounts | W
Pharma: Pfizer CEO reveals growth plan as company faces up to $18 billion revenue hit | C
Corporate finance
DuPont pulls the plug on $5.2 bln buyout of Rogers on clearance issues | R
China Evergrande unit gets notice for $4.48 bln loan from Shengjing Bank | R
Beyond markets
Taylor Swift holds top 10 spots in Billboard Hot 100, announces tour | C
November 01 (Tuesday)
Latest Morning Briefing Executive Summary: Back To The Old Normal?
The unconventional ultra-easy monetary policy that reigned from the Great Financial Crisis to the Great Virus Crisis—a.k.a. the “New Normal”—aimed to stimulate the economy and shore up inflation. Now the “Old Normal” is back, characterized by more conventional tight monetary policy aimed at taming inflation, even if that kickstarts a recession. … But this post-pandemic business cycle isn’t following the usual Old Normal script—instead featuring an oddly quick snapback of GDP growth and oddly vigorous comeback of inflation. … Today, we look at what’s been happening in various segments of the economy this year and forecast what’s in store for 2023.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 31.
Markets
European stocks hit six-week high on hopes for rate hike slowdown | R
Dollar drops as optimism spreads before Fed and BoE decisions | R
Energy
Biden Calls for Penalties on Oil-and-Gas Companies’ ‘Windfall’ Profits | W
Joe Biden threatens higher taxes on oil companies amid high gas prices | C
Energy crisis: Next winter will be worse than this one, oil CEOs warn | C
Global
Factory output weakens on widespread slowdown, China COVID curbs | R
Central banks
Fed Meeting to Focus on Interest Rates’ Coming Path | W
The Federal Reserve Has a Secret Weapon to Fight Inflation | B
US
Report on Worker Demand to Indicate if Labor Market Cooled Further | W
The Accountant Shortage Threatens Capitalism's Future | B
Immigration and Education Are Key to Fixing the US Supply Chain | B
34% Of Millennials Report Being Behind On Their Retirement Savings | C
Meet the 6 Latina GOP Candidates That Are Driving Democrats Nuts | townhall.com
Bigger Affordable Care Act Subsidies Likely to Boost Enrollment | W
Europe
Eurozone Inflation Rate Rises to 10.7% as Recession Looms | W
China
Chinese Property Bonds Set Record Lows as Investors Lose Faith | W
Fearing COVID, workers flee from Foxconn's vast Chinese iPhone plant | R
Apple iPhone maker Foxconn says no Covid deaths at China plant | C
China Docks Final Module to Space Station | W
Emerging
Brazilian President Remains Silent a Day After Losing Election | W
Geopolitics & trade
Biden Is All-In on Taking Out China, Whatever the Consequences | foreignpolicy.com
China's Xi greets Vietnamese ally with ceremony, call for defiance
Ukraine Races to Restore Electricity, Water Supplies After Russian Strikes | W
North Korea demands the U.S., South Korea halt joint military drills | R
Industries & companies
Airlines: Delta pilots vote in favor of potential strike as contract talks drag on | C
Autos: Chip Shortages Still Plague Toyota, Some Other Auto Makers | W
Pharma: Pfizer RSV vaccine given to pregnant moms protects newborns, company data shows | C
Corporate finance
J&J to buy heart pump maker Abiomed in $16.6 billion deal | C
Beyond markets
LinkedIn Survey Finds Work-From-Home Trend May Have Peaked | B
October 31 (Monday)
Latest Morning Briefing Executive Summary: Bear Bottoms
The bear market has clawed 30% out of stock valuations, returning the S&P 500’s forward P/E to its historical average of 15. But October 12 may have marked the bear’s bottom. If GDP and inflation perform as we expect and the Fed does what everyone expects, that bottom should hold. … We think the stock market has discounted a soft-landing scenario (to which we give a 60% subjective probability) but is nervous about a hard landing (40%). … Also: The MegaCap-8 stocks’ outsized influence over their resident indexes has been diminished. … Movie review: “All Quiet on the Western Front” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 24.
Markets
Good News: Bad S&P 500 Earnings Are Playing Into the Fed’s Hand | B
Rising Markets Seem to See the Fed Easing. It’s Too Early for That. | BR
Small-Cap Stocks Have Rarely Been So Depressed. 7 to Buy Now. | BR
Municipal Bonds Are Offering the Yields You’re Looking For. Here’s Where to Look. | BR
The Year That Changed How Wealth Grows | BR
U.S. Pensions Take a Fresh Look at China | W
Energy
Column: U.S. diesel shortage increasingly likely until economy slows | R
Diesel market in perfect storm as prices surge and supplies dwindle | C
Natural-Gas Prices Have Plunged Into Autumn | W
Central banks
Column: Fed may be alert to favoured yield curve alarm | R
Goldman Sachs Now Sees Fed Rates Peaking at 5% in March | B
Fed and BOE Prepare 75 Basis-Point Salvos on Inflation: Eco Week | B
Job Markets Are Defying Central Bankers’ Efforts to Cool Demand | B
Cash-Rich Consumers Could Mean Higher Interest Rates for Longer | W
US
Joe Biden attempts the biggest overhaul of America’s economy in decades | E
3 Potential Outcomes for the Midterms—and What Each Scenario Would Mean | BR
Inflation, Economy Are Top of Mind for US Voters in Midterm Poll | B
The Midterm Elections Are Almost Here. 5 Key Areas to Watch. | BR
How much is long COVID reducing labor force participation? Not much (so far) (brookings.edu)
Senate Republicans want the SEC to explain why staff are quitting | R
Europe
Storm clouds loom for Giorgia Meloni, Italy’s new prime minister | E
China
China Nods to Even Tighter Ties With Russia in Xi Jinping’s Third Term | W
Geopolitics & trade
U.N., Turkey Race to Save Ukraine Grain Deal | W
EU urges Russia to revoke Ukraine Black Sea grain deal suspension | C
Factbox: What is known about the drone attack on Crimea? | R
Russia says it recovers drones used in Black Sea fleet attack in Crimea | R
Russia's Lavrov needles Biden over Cuban missile crisis and Ukraine | R
Industries & companies
Autos: Where Are the Air Bags? Russia’s Hobbled Auto Industry Struggles to Reboot | W
Materials: Steel Companies’ Profits Hurt by Falling Prices | W
Retail: JPMorgan, Macy’s and Other Companies Reveal What They Pay Workers as Deadline Looms | W
Tech: Digital Dollars Could Be a Boon for Amazon, Alphabet, and Other Tech Companies | BR
Tech: Rate Squeeze Punishes Once-Triumphant Tech Stocks | W
Corporate finance
A brief history of Twitter: From its founding in 2006 to Musk takeover | C
Beyond markets
The attack at the Pelosis’ home was part of a dangerous pattern | E
October 29 (Saturday)
Latest Morning Briefing Executive Summary: China and Semiconductors
Today, our focus is the semiconductor and semiconductor equipment manufacturing industries, both down on their luck these days. The US Commerce Department has barred the door to one of their major markets, China. Yet the CEOs have been curiously acquiescent. … Jackie examines the administration’s possible motivations and the impacts on specific players in the space. … This bad news couldn’t have hit at a worse time: The semiconductor cycle may be heading south. Earnings estimates have been getting slashed and stocks battered.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 24.
Markets
Dow closes 800 points higher on Friday, registers fourth straight week of gains | C
Dow Jumps More Than 800 Points as Apple Gains 7.6% | W
Why the Most Common Gas Price Is Far From Average | W
Central banks
U.S. data brings some encouraging signs for inflation-weary Fed | R
Opinion | The Federal Reserve deserves a new variation on the Peter Principle | WP
Global
International Discord Undercuts Global Growth, Worsens Inflation | W
US
U.S. Wages Rose Rapidly in Third Quarter, Keeping Pressure on Inflation | W
U.S. pending home sales tumble in September | R
Consumer Spending Rose in September as Prices for Rent, Transportation Increased | W
Rise in U.S. consumer spending beats expectations; wage inflation slows | R
Credit-Card Debt Returns to Levels Before Covid-19 Pandemic | W
Opinion | Republicans Have No Inflation Plan | N
Europe
Discontent Rises in Europe as Economic War With Russia Pushes Up Cost of Living | W
China
China Nods to Even Tighter Ties With Russia in Xi Jinping’s Third Term | W
Shanghai Disneyland reduces operations as China tightens COVID curbs | R
Japan
Japan Is the One Place Where Inflation Might Be About Right | W
Geopolitics & trade
Star Economist Roubini on the Global Crises: "World War III Has Already Effectively Begun"
Iranian Drones in Ukraine Project Tehran’s Power Beyond Mideast, Testing U.S., Europe | W
U.S. says North Korea policy unchanged after nuclear remark raises eyebrows | R
UN report: Accounts of rape, torture and executions by Russian troops | C
Industries & companies
Communications Services: GM temporarily suspends advertising on Twitter following Musk takeover | C
Energy: Exxon Hits Record Profits Again as Oil Industry Sees Banner Quarter | W
Beyond markets
Flu Hospitalizations Hit Decade-Plus High for October | W
FDA sees limits to omicron-booster studies from Columbia, Harvard | C
Paul Pelosi, Husband of House Speaker Nancy Pelosi, Attacked in San Francisco Home | W
October 28 (Friday)
Latest Morning Briefing Executive Summary: China and Semiconductors
Today, our focus is the semiconductor and semiconductor equipment manufacturing industries, both down on their luck these days. The US Commerce Department has barred the door to one of their major markets, China. Yet the CEOs have been curiously acquiescent. … Jackie examines the administration’s possible motivations and the impacts on specific players in the space. … This bad news couldn’t have hit at a worse time: The semiconductor cycle may be heading south. Earnings estimates have been getting slashed and stocks battered.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 24.
Markets
Why Stock Multiples Say the Market Could Continue to Drop | Morningstar
The bear hasn’t broken passive yet | FT
Central banks
ECB Raises Rates by 0.75 Point to Highest in More Than a Decade | W
Japan to keep ultra-low interest rates, defy global tightening trend | R
US
U.S. Mortgage Rates Top 7%, Highest in More Than 20 Years | W
U.S. Economy Grew 2.6% in Third Quarter, GDP Report Shows | W
U.S. economy rebounds in Q3 on boost from trade, but demand stalling | R
Analysis: How Congress might look for Biden post midterms: The good, bad, and the ugly | R
Trump loses court bid to block Congress from getting tax returns | C
Geopolitics & trade
Inside the Secret Prisoner Swap That Splintered the U.S. and China | W
Industries & companies
Consumer Discretionary: Amazon predicts sales growth slowdown for holidays, crushing shares | R
Technology
Amazon to open Kuiper internet satellite factory | C
Beyond markets
Buffalo Bills unveil first design images of their new $1.4 billion stadium | C
October 27 (Thursday)
Latest Morning Briefing Executive Summary: China and Semiconductors
Today, our focus is the semiconductor and semiconductor equipment manufacturing industries, both down on their luck these days. The US Commerce Department has barred the door to one of their major markets, China. Yet the CEOs have been curiously acquiescent. … Jackie examines the administration’s possible motivations and the impacts on specific players in the space. … This bad news couldn’t have hit at a worse time: The semiconductor cycle may be heading south. Earnings estimates have been getting slashed and stocks battered.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 24.
Markets
Big Tech tumbles as results set off alarm bells | R
Central banks
Powell again faces political pressure as worries mount over economy | C
Energy & climate
Europe, Once Fearing Gas Rationing This Winter, Has a Glut | W
Column: Europe’s gas inventories, the risk from complacency | R
Biden Team Reworks Plan for Russia Oil-Price Cap as Markets Sour | B
Column: China still added to crude oil inventories despite refining, fuel export surge | R
Hydropower Production Falls as Dams From China to US Hit by Sweeping Drought | B
US I
New-Home Sales Fell Nearly 11% in September Amid Rising Interest Rates | W
U.S. mortgage interest rates jump to 7.16%, highest since 2001 | R
Zillow (Z) Lays Off 300 Employees as US Housing Market Slows | B
US II
Ahead of Midterms, How Bad Is the Economy, Really? | W
Biden has ambitious infrastructure goals. Made-in-America rules could slow them. | Vox
Unmitigated gall of Joe Biden claiming that he 'lowered' debt | P
Europe
Germany to legalize cannabis use for recreational purposes | R
Germany, France Divided Over Energy Crisis and China | W
China
Xi Jinping’s Vow of World Dominance by 2049 Sends Chill Through Markets | B
Geopolitics & trade
China Wants to ‘Speed Up’ Its Seizure of Taiwan, US's Blinken Says | B
Opinion | Biden Just Clobbered China’s Chip Industry | N
Ukrainians hold out in east, prepare battle for Kherson | R
Industries & companies
Autos: Exclusive: Tesla faces U.S. criminal probe over self-driving claims | R
Autos: Ford to Take $2.7 Billion Charge on Argo Driverless Startup Stake | W
Media: Disney CEO Bob Chapek Wants to Customize Fan Experiences | W
Tech: Microsoft’s Struggles Enter the Metaverse | W
Corporate finance
U.S. SEC adopts executive compensation clawback rules | R
Accounting Errors to Cost Executives Their Bonuses Under SEC Rule | W
Beyond markets
U.S. Army struggles to find recruits its needs to win fight of future | C
A Possible Covid, Flu and RSV ‘Tripledemic’ Has Doctors Worried. What to Know | W
Brands have fled Kanye. What about his music career? | NN
October 26 (Wednesday)
Latest Morning Briefing Executive Summary: ECB On Thursday, Inflation On Friday
ECB hawks will be squawking at their meeting on Thursday. Fed hawks will be all over the critical US inflation data that comes out on Friday: The Employment Cost Index may suggest a peaking of wage inflation, and September’s PCED may reflect a declining headline rate (albeit rising core rate, as did September’s CPI, due to services inflation). Today, we examine the significance of each. … Also: We drill down to inflation within services industries, where the worst of it now roosts. … And: Once again, the ECB is on a mission and vowing to “do whatever it takes” to achieve it. This time, the goal is smothering Europe’s inflation fire even if GDP is dampened in the process.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 25.
Markets
The bear market blues: a diagnosis for our times | R
Opinion | Why OPEC Is Cutting Oil Production (and Why There’s Not Much the U.S. Can Do About It) | N
Central banks
Fed's Powell, on eve of next rate hike, urged to protect jobs | R
The Age of Inflation: Easy Money, Hard Choices
Global
Global economy approaching a recession, central banks unchained: Reuters poll | R
US
Leading Economic Index: What it is, why it's flashing a recession warning | C
A 'catastrophe' is coming for economy: Labor Secretary Marty Walsh | C
Home prices cooled at a record pace in August, S&P Case-Shiller says | C
Poor report cards at U.S. companies fan recession fears | R
Surging Rents Push More Americans to Live With Roommates or Parents | W
Health-Insurance Inflation Is Poised to Drop Sharply | W
Steering the conversation toward the economy could actually help Democrats | The Hill
China
Fire Sale! China’s “Warren Buffett” Races To Sell Assets | FO
Europe
New PM Rishi Sunak pledges to lead Britain out of economic crisis | R
Geopolitics & trade
Russian Oligarchs Obscure Their Wealth Through Secretive Isle of Man Network | W
Industries & companies
Airlines: Airlines have the passengers. Now they need the planes | C
Media: Exclusive: Twitter is losing its most active users, internal documents show | R
Corporate finance
Intel Prices Widely Anticipated IPO for Self-Driving Car Unit Mobileye | W
Covid
Men Died From Covid-19 at Much Higher Rate Than Women in Pandemic’s First Year | W
People who had mild Covid had increased risk of blood clots: UK study | C
Beyond markets
Remote work isn’t going away. What’s happening to extra office space? | Vox
October 25 (Tuesday)
Latest Morning Briefing Executive Summary: Your Wish Is Our Command
Our Monday webinars often don’t allow time to answer all your questions. So today’s Morning Briefing is devoted to a few recent ones. … We don’t expect much economic impact when the drawdown of the SPR ends, as we don’t foresee gasoline prices spiking as a result since tapping the SPR didn’t contribute much to the decline in prices. … Also: We counter our skeptics who expect a rampant recession, explaining why we see greater odds (60%) that the gently rolling recession already underway will continue. … And: The strong dollar should peak when monetary policymakers’ hawkishness does, to the relief of US companies with foreign-derived sales and earnings.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 25.
Markets
U.S. yields climb as hawkish Fed concerns outweigh weaker economic data | R
Shares in Chinese Companies Crash After Xi Jinping Stacks Party With Allies | W
Column: Oil investors on defensive as recession forces intensify | R
Charts suggest the U.S. dollar could be peaking, Jim Cramer says | C
Global
Global Economic Growth Is Weighed Down by Inflation, Rising Interest Rates | W
Energy
President Biden forcefully responds to Saudis on oil | The Hill
Biden’s SPR follies will hurt Americans and damage our national security | P
Factbox: How is Germany replacing Russian gas? | R
The Hidden Corner of the Energy Market Where Russian Exports to Europe Are Booming | W
US
The economy may be in better shape than you think...for now | NN
What the state of the U.S. economy means for the midterm elections | The Week
As They Wholly Redefine ‘Inflation,’ Republicans Hand Dems the Tools to Shoot Down Tax Cuts | FO
Inflation is dominant topic on earnings calls. What execs are saying | C
Opinion | The Way Los Angeles Is Trying to Solve Homelessness Is ‘Absolutely Insane’ | N
Mortgages Sold to Fannie, Freddie Should Use More Than FICO Scores, Regulator Says | W
Europe
Rishi Sunak to be Britain's new prime minister as rival Penny Mordaunt drops out | C
Industries & companies
Autos: Tesla Cuts Prices in China as Costs Fall, Competition Heats Up | W
Financials: Banks Are Offering 4.5% CDs—Just Not to Regular Customers | W
Tech: Intel CEO Calls New U.S. Restrictions on Chip Exports to China Inevitable | W
Geopolitics & trade
Russia could plan 'dirty bomb' pretext, Western countries say | R
How Wikipedia is documenting suspicious Russian oligarch deaths. | slate.com
Chinese intelligence officers charged in Huawei prosecution obstruction | C
Beyond markets
U.S. student test results show toll of pandemic lockdowns on learning | R
October 24 (Monday)
Latest Morning Briefing Executive Summary: The Great Monetary Policy Reversal
Both the bearish and bullish cases for the stock market currently boil down to how the economy responds to the tectonic monetary policy adjustment from unconventionally ultra-easy to conventionally tight, a.k.a. “The Great Monetary Policy Reversal.” … We describe both cases, pointing out that bullish could morph into bearish if services inflation doesn’t abate. We’re in the minority as glass-half-full bulls, counting on a muted rolling recession, with rolling inflation, passing through the economy and out. … Also: Fed officials may be dialing back their hawkishness, which would support the bullish case. We think monetary policy is decidedly restrictive now already. … And: Midterm elections could energize Santa Claus rally. ... Plus: Dr Ed reviews “Eiffel” (+).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 17.
Markets
Dollar see saws on suspected yen intervention, shares rally | R
China’s Yuan Is Weakening Against the Dollar. It’s Easy to Misread Why. | BR
Palladium Is Outshining Gold and Silver. Why Its Price Could Keep Rising. | BR
Central banks
What CEOs Are Saying: The Fed ‘Should Look Out the Front Windshield’ | W
Even super-tight policy is not bringing down prices | E
Higher Interest Rates Can Take a Long Time to Bring Down Inflation | W
Energy & climate
France’s Nuclear Reactors Malfunction as Energy Crisis Bites | W
India’s next green revolution | E
Buy BP and Exxon Stock. They Have a Surprisingly Green Future. | BR
US
Early Earnings Reports Worry Investors Already Battered by Stock Selloff | W
A global house-price slump is coming | E
Companies Take Different Strategies to Navigate High Inflation | W
U.S. cities where starter homes are affordable | C
Europe
Welcome to Britaly | E
China
China reports third-quarter GDP grew by 3.9%, beating expectations | C
China Economy Shows Mixed Recovery as Industrial Activity Climbs | B
Xi Jinping leaves no doubt who is in charge of China | E
Xi Jinping has no interest in succession planning | E
China’s Xi Claims Third Term as Communist Party Leader | W
China names Xi Jinping loyalists for core leadership group | C
Will the Chinese of tomorrow live like the Spaniards of today? | E
Geopolitics & trade
Russia hits Ukraine homes, evacuates Kherson, warns of escalation | C
Two Koreas exchange warning shots near maritime border amid tensions | C
Industries & companies
Autos: Tesla Stock Could Rebound in 3 Months. Here’s What it Would Take. | BR
Financials: Big Banks Can Weather a Recession. Here Are the Top Stocks to Buy. | BR
Media: Netflix experiments with Knives Out sequel, but sticks with limited theater runs | C
Tech: How U.S. Uses Supply Chain Sway to Throttle China’s Chip Development | W
October 22 (Saturday)
Latest Morning Briefing Executive Summary: On China, Banks & Solar
China’s economy is ailing, but you wouldn’t know it to hear President Xi’s speech before the Chinese Communist Party’s annual National Congress. Jackie puts into perspective the points he made and, more importantly, the ones he omitted. … Also: Big banks’ Q3 earnings reports showcase their resilience so far in the current higher interest-rate environment but leveraged loans could be a problem area in the future if companies have trouble making higher interest payments. ... And: A look at solar energy’s sunny future: With new technologies making panels lighter and more versatile, the sky’s the limit to their potential applications.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 17.
Markets
Dow climbs more than 700 points on Friday as Wall Street clinches its best week since June | C
U.S. yields slide from multi-year highs on hopes of Fed pivot | R
The $1 Million Amazon Conflict: Washington’s Ethics Czars Struggle to Enforce Stock-Trading Laws | W
2-year Treasury yield falls below 4.5% as traders weigh a potential slowdown in Fed hikes | C
Central banks
Fed Set to Raise Rates by 0.75 Point and Debate Size of Future Hikes | W
Why Japan Stands Virtually Alone in Keeping Interest Rates Ultralow | NYT
Energy
France joins other European countries in pulling out of treaty protecting energy investments | R
Europe’s Energy Shock Spurs Rethink of Liberalized Gas Markets | W
Please, someone: hit the brakes on Biden’s gas and energy nonsense | P
US
Inflation is not becoming 'embedded' in economy, Yellen says | R
Burnout at work is getting worse, according to new data | Vox
U.S. Deficit Shrank Last Fiscal Year, but Is Poised to Widen as Economy Slows | W
Student loan forgiveness: President Biden says 22 million people have signed up | C
Europe
Boris Johnson’s Potential Return Shakes Up Race for U.K. Prime Minister | W
China
China's Decade of Change Under Xi Jinping, in Nine Charts | W
Industries & companies
Retail: How Lululemon competes against Athleta, Alo, Gymshark, Nike and Adidas | C
Beyond markets
Cases of BQ.1, BQ.1.1 COVID variants double in U.S. as Europe warns of rise | R
Surge in Pediatric Respiratory Viruses, Including RSV, Strains Children’s Hospitals | W
CDC may use oral polio vaccine for first time in 20 years to halt New York outbreak | C
October 21 (Friday)
Latest Morning Briefing Executive Summary: On China, Banks & Solar
China’s economy is ailing, but you wouldn’t know it to hear President Xi’s speech before the Chinese Communist Party’s annual National Congress. Jackie puts into perspective the points he made and, more importantly, the ones he omitted. … Also: Big banks’ Q3 earnings reports showcase their resilience so far in the current higher interest-rate environment but leveraged loans could be a problem area in the future if companies have trouble making higher interest payments. ... And: A look at solar energy’s sunny future: With new technologies making panels lighter and more versatile, the sky’s the limit to their potential applications.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 17.
Markets
Big News for Investors: TINA is Dead | Morningstar
Oil near flat as inflation concerns contend with potential quarantine easing in China | R
Central banks
The Fed, Staring Down Two Big Choices, Charts an Aggressive Path | N
Businesses Expect Economy to Weaken, Fed’s Beige Book Says | W
Fed's Harker sees 'lack of progress' on inflation, expects aggressive rate hikes ahead | C
Fed may have to slow or stop balance sheet trimming in 2023, Barclays says | R
Greg Mankiw's Blog: Why I fear the Fed may be overdoing it
Cramer: Earnings reports show the Fed is making progress on inflation | C
Global
Sanctions on Russia aluminum could hurt global supply chains: Analysts | C
US
U.S. Home Sales Drop for Eighth Straight Month in September | W
Existing home sales fall to a 10-year low in September | C
Jobless Claims Fell Last Week in Still-Tight Labor Market | W
An often-overlooked economic measure is signaling serious trouble ahead | C
College Enrollment Declines Again Though Online Schools, HBCUs See Increases | W
Container imports to Los Angeles and Long Beach are plummeting
China
Why Another Xi Jinping Term Might Be in U.S.’s Interest | W
China’s Military Is Catching Up to the U.S. Is It Ready for Battle? | W
Europe
Truss Defied the Markets, and They Ruthlessly Sealed Her Fate | N
Who will replace Truss as UK prime minister? Sunak? Mordaunt? Johnson? | R
U.K. Government Is High-Profile Casualty in World of Higher Borrowing Costs | W
Japan
Japan's inflation hits 8-year high in test of BOJ's dovish policy | R
Geopolitics & trade
Iran Is Training Russian Drone Pilots in Crimea to Aid Moscow’s War Effort, U.S. Says | W
Industries & companies
Airlines: At American Airlines, First Class Out, Business Class In for International Trips | W
Airlines: Why cheap airfare is so hard to find this year | C
Airlines: Travel Demand Remains Strong, Airlines Say | W
Autos: Elon Musk Calls Tesla ‘Recession-Resilient’ as Wall Street Eyes Demand | W
Autos: GM's 2024 GMC Sierra EV offers electric truck alternative to Hummer | C
Railroads: Union Pacific Profit Rises 13% as Railroads Benefit From Higher Freight Rates | W
Retail: Second Amazon Style apparel store officially opens | Chain Store Age
Tech: Apple Is an Ad Company Now | WIRED
Tech: Chip Maker TSMC Weighs Expansion in Japan to Reduce Geopolitical Risk | W
Tech: Facebook shuttle bus drivers face layoffs as Meta slashes costs | C
Beyond markets
What Have Workers Done with the Time Freed up by Commuting Less? | NY Fed
Ask an AI Art Generator for Any Image. The Results Are Amazing—and Terrifying. | W
October 20 (Thursday)
Latest Morning Briefing Executive Summary: On China, Banks & Solar
China’s economy is ailing, but you wouldn’t know it to hear President Xi’s speech before the Chinese Communist Party’s annual National Congress. Jackie puts into perspective the points he made and, more importantly, the ones he omitted. … Also: Big banks’ Q3 earnings reports showcase their resilience so far in the current higher interest-rate environment but leveraged loans could be a problem area in the future if companies have trouble making higher interest payments. ... And: A look at solar energy’s sunny future: With new technologies making panels lighter and more versatile, the sky’s the limit to their potential applications.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 17.
Markets
Japanese yen hits 150 against the U.S. dollar | C
Central banks
BOJ conducts emergency bond buying to underpin debt market, but yields keep rising | R
Japan ramps up intervention threats after yen slides past key 150 level | R
Energy
Factbox: Europe's alternatives if Russia shuts off gas supply | R
America's new nuclear power industry has a Russian problem | R
Biden says oil companies should prioritize lowering prices over stock buybacks | C
US
GOP holds big leads on key economic issues ahead of the November elections, CNBC survey shows | C
China
China’s Surveillance State Pushes Deeper Into Citizens’ Lives | W
Europe
UK PM Liz Truss locked in Downing Street talks as political crisis escalates | C
Geopolitics & trade
Ukrainians Urged to Ration Electricity as Russian Missiles Target Energy Infrastructure | W
U.S., Europe Struggle to Keep Iran’s Drones From Russian Military | W
Industries & companies
Autos: Biden administration awards $2.8 billion in grants for electric vehicle battery manufacturing | C
Autos: Elon Musk says Tesla is 'pedal to the metal' even in recession | C
Pharma: Drugmakers Look to Limit Medicare’s New Power to Negotiate Lower Drug Prices | W
Beyond markets
Trump's company faces criminal tax trial as his legal woes mount | R
Toxic Workplaces Are Bad for Mental and Physical Health, Surgeon General Says | W
October 19 (Wednesday)
Latest Morning Briefing Executive Summary: On Mid-Terms, Earnings & Commodities
Octobers tend to turn out decent returns during mid-term election years. Twelve bear markets have met their demise during October, often setting the stage for Santa Claus rallies. … Q3 earnings season has stumbled out of the gate, but stocks have rallied anyway. We look at which sectors and industries benefited the most and where estimate-cutting industry analysts are cutting the most. … Also: Melissa discusses how recent news from China and Europe has been affecting commodities prices.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 17.
Markets
Stocks Notch Second Day of Gains | W
Biden to Sell More Oil From Strategic Reserve to Keep Gas Prices in Check | W
Central banks
Fed's Bostic: U.S. needs to work through labor market "shuffle and churn" | R
ECB set to warn of risks in its non-binding opinion on Spanish tax proposal, sources say | R
Energy
EU Seeks Power to Set Emergency Cap on Gas Prices | W
French Protests Highlight Pressure on European Leaders From Energy Crisis | W
Biden to lay out plan to complete emergency oil sales, support U.S. production | R
Fashion Industry Gets Torn by Europe’s Soaring Energy Bills | W
US
Inflation Causes IRS to Raise Tax Brackets, Standard Deduction by 7% | W
Currency hit to N. American companies seen 'bad' after rough Q2 -report | R
Home Buyers Flock to Florida Cities Devastated by Hurricane Ian | W
China
Xi Jinping’s Ideological Ambition Challenges China’s Economic Prospects | W
Geopolitics & trade
Russian commander admits situation is 'tense' for his forces in Ukraine | R
Industries & companies
Autos: Rolls-Royce has over 300 orders for its $413,000 Spectre electric vehicle | C
Financials: Goldman Shuffle Aims to Reduce Reliance on M&A | W
Materials: EXCLUSIVE Glencore delivers Russian-origin aluminum into LME system -sources | R
Media: Netflix Gains 2.4 Million New Subscribers, Reversing Trend | W
October 18 (Tuesday)
Latest Morning Briefing Executive Summary: Going Fishing
Our bond market analysis suggests that the 10-year Treasury bond yield might peak at 4.00%-4.25%, probably in November after the Fed raises the federal funds rate by 75bps and possibly in anticipation of one final 75bps hike in December that puts the terminal federal funds rate at 4.50%-4.75%. … Our stock market outlook involves the S&P 500 remaining in a volatile trading range between 3666 and 4305 for the rest of this year. ... Also: Why hasn’t the labor-force participation rate snapped back to its pre-pandemic levels now that the pandemic has abated? Melissa explores various reasons. … And: She examines trends perpetuating today’s extreme labor shortages.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 17.
Markets
U.S. Stocks Jump, With Dow Up About 550 Points | W
Energy
U.S. Permian oil production forecast to hit record in November -EIA | R
White House Planning Oil Reserve Release Announcement This Week | B
Dozens of LNG-laden ships queue off Europe's coasts unable to unload | R
New England Risks Winter Blackouts as Gas Supplies Tighten | W
Exclusive: Exxon exits Russia empty-handed with oil project 'unilaterally terminated' | R
US
US Recession Forecast Within Year Hits 100% in Blow to Biden Before Midterms | B
Democrats Spent $2 Trillion to Save the Economy. They Don’t Want to Talk About It. | N
Mark Mobius Warns US Interest Rates Will Hit 9% If Inflation Persists | B
JPMorgan’s Kolanovic Trims Risk as He Turns More Wary on Economy | B
Bank of America CEO Brian Moynihan says the U.S. consumer is healthy | C
Europe
UK Prime Minister Truss says 'sorry' for mistakes, but 'I'm sticking around' | R
Emerging
China Abruptly Delays GDP Release During Communist Party Conference | W
China’s Xi Jinping Likely to Pack Party Leadership With Allies in Show of Strength | W
Warren Buffet bails as Chinese economy flounders, tensions rise | P
Asia could stand out from economic doom and gloom next year: economists | C
Geopolitics & trade
US's Blinken Says China Wants to Seize Taiwan on ‘Much Faster Timeline’ | B
U.S. condemns 'war crimes' after Russia drone attack hits Kyiv apartment block | R
Marine Le Pen Wants France to Chart Its Own Course Between U.S. and Russia | W
The string of mysterious deaths among businessmen in Putin’s Russia, explained | Vox
Industries & companies
Autos: Are electric vehicles really better? | The Week
Autos: GM's Cadillac Celestiq EV costs $300,000 and is customizable | C
Media: Netflix Seeks Ways to Get Subscribers to Return After Visits Decline | W
Tech: We need to keep Big Tech strong — so it can keep America strong | P
Wireless: A New Space Race Targets the Smartphone | W
Wireless: Why smartphones are getting cheaper in the CPI | C
Technology
Meet the Army of Robots Coming to Fill In for Scarce Workers | W
Corporate finance
Regulators should finally require some transparency of large private firms | The Hill
Kanye West to Buy Parler, a Libertarian Social-Media Platform, Company Says | W
Beyond markets
The NFL is a ticking time bomb. Congress could set it off. | MSNBC
Despite What the Experts Told You, This Was Never ‘Inflation’ | FO
Many Americans Ignore Covid Boosters as Winter, Variants Loom | W
October 17 (Monday)
Latest Morning Briefing Executive Summary: Mostly All About Inflation
More persistently pernicious inflation than expected is at the root of the financial market’s bearish sentiment. Revenues, profit margins, and earnings have been holding up relatively well; the market’s big problem is a significant downward rerating of the P/E multiples that investors are willing to pay in this inflationary economic environment. ... We continue to think the economy is undergoing a rolling recession afflicting different industries at different times. We also think that inflation might be following a similar rolling script. Notably, goods inflation pressures have abated as services inflation pressures have picked up.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 10.
Markets
Whiplash in Stock Market Shows Investors Are Still on Edge | W
The Stock Market Rebound Fizzled. Why a Real Bottom Could Be Forming Soon. | BR
Markets are reeling from higher rates. The world economy is next | E
Stocks Look Alluring for the Longer Term, say U.S. money managers | BR
If Ukraine Wins and Putin Loses, What Happens to Markets? | BR
Junk-Rated Companies Search for the Right Time to Tap Investors | W
Commodities
OPEC+ members line up to endorse output cut after U.S. coercion claim | R
OPEC production cuts: Why Saudi Arabia’s move might not help Russia all that much | Vox
Gazprom CEO says gas price cap would lead to supply halt | R
Column: Record European copper premiums as buyers shut out Russia | R
Global
High Inflation Darkens Global Economic Outlook | W
Households across the rich world have never been so gloomy | E
Central banks
The Fed will continue to raise interest rates: How high could they go? | The Hill
US
How Americans feel about the economy | E
When Mortgage Rates Might Stop Rising, and More Takeaways From a Top Housing Market Economist | BR
Some Companies Are Leaving California as It Pushes Ahead on Regulations | BR
White House pushes ahead research to cool Earth by reflecting sunlight | C
Europe
Thousands take to the streets of Paris to protest soaring prices | R
China
China’s Xi Is Getting a Third Term. Investors Are Hoping Something Gives. | BR
Xi Jinping’s Quest for Control Over China Targets Even Old Friends | W
China's Xi talks up security, reiterates COVID stance as congress opens | R
China's Xi downplays need for rapid growth, praises Covid achievements | C
At China’s Communist Party congress, Xi Jinping sails on undaunted | E
An obsession with control is making China weaker but more dangerous | E
China is no longer just any emerging market | C
Geopolitics & trade
Failure to Control Ukraine’s Skies Betrays Key Flaw in Russia’s War Strategy | W
Xi warns against Taiwan interference at China's CPC national congress | C
Industries & companies
Autos: For GM auto union workers, there's still a lot to learn about EVs | C
Financials: The Stocks Are Down, but Regional Banks Are Stress-Tested With 4% Dividends | BR
Materials: 8 Mining Stocks: Why Their Long-Term Outlook Is Bright | BR
Retail: Kohl's Faces a New Activist Push to Change Its Board | BR
Tech: Tech Companies Embrace Silicon Valley, Despite Rising Regulation | BR
Tech: Why the Chip-Ban Panic Over Taiwan Semiconductor May Be Overblown | BR
Tech: Meta Horizon Worlds metaverse losing users, falling short of goals: Report | C
Technology
Meet the Army of Robots Coming to Fill In for Scarce Workers | W
Climate
Shasta Lake Helped Water California; Now Its Dryness Is a Threat to the State | W
Beyond markets
Elites realize they need blue-collar workers they derided | P
It is becoming harder to take off a sick day | E
Elon Musk tweets on Starlink: 'We’ll just keep funding Ukraine govt for free' | C
October 15 (Saturday)
Latest Morning Briefing Executive Summary: On Semis, Valuation & Energy
The cyclical S&P 500 Semiconductors and Semiconductor Equipment industry indexes have had a terrible week and year. … Also: The stock market’s poor recent performance has been mostly attributable to valuation resets at lower levels. Jackie finds a mixed valuation picture among sectors and industries. … And: Developments that exert upward pressure on oil prices have been countered by factors with the opposite effect; three in particular have been sapping global demand for oil lately.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 10.
Markets
Stocks Drop After Wild Surge on Wall Street | W
Dow closes 400 points lower to end a wild week of trading | C
Groping for a Bottom - The Big Picture (ritholtz.com)
Jamie Dimon says expect 'other surprises’ from choppy markets after U.K. pensions nearly imploded | C
OPEC+ Cuts Could Lead To Supply Deficit In Oil Markets | OilPrice.com
Global
IMF Urges Faster Debt Relief for Nations Fighting High Inflation, Hunger | W
Central banks
Federal Reserve probing Bostic's trading after blackout period transactions | C
Exclusive-Fed's Bullard favors 'frontloading' rate hikes now, with wait-and-see stance in 2023
US
Americans Spend Less on Gas, More on Food as Inflation Varies Across Items | W
Inflation and the Midterm Elections | W
Deere invests $29.8M to shift production from China to Louisiana (NYSE:DE) | Seeking Alpha
Europe
U.K. Prime Minister Liz Truss Fires Treasury Chief, U-Turns on Taxes | W
China
Xi Jinping’s Endgame: A China Prepared for Conflict With the U.S. | W
A Slew of China Builders Gets Ratings Dropped as Crisis Worsens | B
Chinese Internet Users Lose Access to WeChat App After Beijing Protest | W
Geopolitics & trade
Exclusive: EU ministers to discuss Iran drones to Russia, future sanctions, sources say | R
Sweden shuns formal joint investigation of Nord Stream leak, citing national security | R
Marine Le Pen Wants France to Chart Its Own Course Between U.S. and Russia | W
U.S. Has Made ‘Dramatic Change’ in Technology Used for Nuclear Code System | W
Industries & companies
Autos: Lithium for Tesla, EVs, batteries: Touring Silver Peak, Nevada | C
Pharma: Review: Abbott Freestyle Libre 3 CGM for diabetics | C
Retail: Retail Spending Was Flat in September Amid High Inflation | W
Corporate finance
Kroger and Albertsons in Deal Talks to Create Supermarket Powerhouse | W
Fed Approves U.S. Bancorp Acquisition of MUFG Union Bank | W
Beyond markets
Omicron BA.5 is declining as emerging variants gain ground: CDC data | C
October 14 (Friday)
Latest Morning Briefing Executive Summary: On Semis, Valuation & Energy
The cyclical S&P 500 Semiconductors and Semiconductor Equipment industry indexes have had a terrible week and year. … Also: The stock market’s poor recent performance has been mostly attributable to valuation resets at lower levels. Jackie finds a mixed valuation picture among sectors and industries. … And: Developments that exert upward pressure on oil prices have been countered by factors with the opposite effect; three in particular have been sapping global demand for oil lately.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 10.
Markets
Dow Closes More Than 800 Points Higher in Volatile Day | W
Bond Yields End Higher After Wild Session, Lifted By Inflation Data | W
As Bond Investors’ Bets Blow Up, They Might Usher In Era of Higher Rates | W
Central banks
Inflation Report Seals Case for 0.75-Point Fed Rate Rise in November | W
A gummy theory for the Fed's high-stakes interest rate gamble | NN
Energy
Threat Against Gas Plant in Norway Rattles Tense European Markets | W
Column: Europe's gas prices retreat as storage almost full | R
EU Readies New Proposals to Drive Down Energy Costs | W
A shift in global energy demand could be coming this winter | C
Biden signals new effort to lower gasoline prices next week | R
US
Inflation Sits at 8.2% as Core Prices Hit Four-Decade High | W
Inflation’s Storm From the Shelter | W
Here's the inflation breakdown for September 2022 — in one chart | C
Mortgage Rates Hit 6.92%, a 20-Year High | W
Delaying big purchases, reducing debt: How to prepare for a recession | C
Opinion: Employers should stop caring so much about college degrees | NN
China
Morning Bid: Xi bangs the drums | R
What Do Chinese People Think of Xi Jinping? It’s Very Hard to Tell | W
Posh ice cream, craft beer in vogue as Chinese downsize their love of luxury | R
Geopolitics & trade
Analysis: China faces its "Sputnik" moment as US export curbs deal a blow to its chip ambitions | R
Seoul scrambles fighters as North Korean planes fly close to border | R
Treasury's Yellen says Russia's war has weakened its economy | C
Exclusive: Russia is prepared to quit Black Sea grains deal, writes to UN with demands | R
Industries & companies
Consumer Discretionary: Amazon executives overseeing Alexa, hardware group depart the company | C
Financials: BlackRock Profit Falls 16% | W
Media: Netflix’s Ad-Supported Plan Will Launch in November at $6.99 a Month | W
Media: Netflix to get Nielsen ratings as streaming giant rolls out ad-supported plan | C
Tech: Inside Mark Zuckerberg’s Metaverse Struggles | N
Climate
White House pushes ahead research to cool Earth by reflecting sunlight | C
Beyond markets
U.S. extends Covid public health emergency | C
Ben Bernanke Led the Fed During the Global Financial Crisis | N
October 13 (Thursday)
Latest Morning Briefing Executive Summary: On Semis, Valuation & Energy
The cyclical S&P 500 Semiconductors and Semiconductor Equipment industry indexes have had a terrible week and year. … Also: The stock market’s poor recent performance has been mostly attributable to valuation resets at lower levels. Jackie finds a mixed valuation picture among sectors and industries. … And: Developments that exert upward pressure on oil prices have been countered by factors with the opposite effect; three in particular have been sapping global demand for oil lately.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 10.
Markets
S&P 500 closes lower, notching six days of losses ahead of key inflation report | C
Stocks Slip After Fed Minutes and Inflation Data | W
Stocks Move in Lockstep as Fed’s Rate Increases Show No Mercy | W
Cash is king again as money managers are in no rush to embrace risk with Fed raising rates | C
Treasury yields fall slightly as traders await Thursday's CPI report | C
Column: OPEC+ risks overtightening the oil market | R
Central banks
Federal Reserve Worry About Faster Inflation at Last Meeting | N
Fed officials worried more about doing too little on inflation than too much | R
Fed Minutes Show Concerns of More Persistent High Inflation | W
How the Fed Might Slow Down | W
ECB closing in on rule change to shave banking profits, sources say | R
Global
IMF Urges Governments Restrain Spending to Fight Inflation | W
Treasury's Yellen says global economy faces headwinds, warns of geopolitical 'coercion' | R
US
Consumer inflation seen to have run hot in September, boosted by rent | C
Labor Hoarding Could be Good News for the Economy | N
ACT Test Scores Drop to Lowest Levels in More Than 30 Years | W
China
A Dissident Escapes Xi Jinping’s China and a Life ‘Made Up of Lies’ | W
Europe
Bank of England Ultimatum Puts New Pressure on U.K. Markets | W
U.K. Pension Funds Rush to Raise Cash as Central-Bank Deadline Looms | W
Geopolitics & trade
How Ukrainian Strategy Is Running Circles Around Russia’s Lumbering Military | W
U.N. denounces Russian 'annexation' while West backs Ukraine with more air defenses | R
U.S. may block Russian aluminum imports -source | R
Putin moots gas hub in Turkey with Nord Stream supplies | R
Special Report: U.S. firm supplied networking tech to maker of Russian missiles | R
U.S. Sees ‘Decisive Decade’ Ahead in Competition With China, Russia | W
Industries & companies
Autos: GM's Chevrolet Trax crossover comes with new tech, design, lower price | C
Consumer Discretionary: Amazon's growing private label business is challenge for small brands | C
Consumer Discretionary: Amazon Second Prime Day: Shoppers Pick Household Goods Over Pricey TVs, Laptops | B
Tech: The Quest Pro’s $1,500 ticket to Mark Zuckerberg’s metaverse | Vox
Beyond markets
Deadly Ebola Outbreak Spreads to Uganda’s Capital | W
October 12 (Wednesday)
Latest Morning Briefing Executive Summary: The Most Widely Anticipated Recession In History
Some areas of US economy are thriving while others flounder, and several looming challenges signal tough times ahead. JPMorgan Chase’s CEO yesterday said a recession is coming. Our assessment is that a rolling recession is already here and should linger well into next year. … We’re raising our Q3 forecast for real GDP and lowering our Q4 one. … Notably, small business owners remain depressed, with inflation topping their worry list even as they’re forced to exacerbate it. … Also: Industry analysts have been continuing to lower their earnings sights; we may do the same for S&P 500 earnings this year and next depending on the strength of Q3 earnings results.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 10.
Markets
Further 20% fall in U.S. stocks ‘certainly possible’: IMF director | C
Federal Officials Trade Stock in Companies Their Agencies Oversee | W
Global
IMF Warns Rate Increases Could Spur A Global Recession | N
IMF Warns of Growing Global Risks, Says U.K. Turmoil Largely Contained | W
US I
Biden Says Very Slight Recession Is Possible, but He Doesn’t Anticipate One | W
U.S. mortgage interest rates rise to highest level since 2006 | R
Demand for riskier home loans is high as interest rates soar | C
Supplier-Price Report to Offer Clues on September Inflation Trend | W
US II
Federal Deficit Fell by $1.4 Trillion in Fiscal Year 2022, CBO Estimates | W
The never-ending state of rotten and excessive government | WT
Legal challenges could hamper U.S. rule to limit independent contracting | R
Whither Long-Term Inflation? | Morningstar
China
American Universities Continue to Falter in World Rankings as China Rises | W
China's 'liberal' Wang Yang seen as possible premier as reshuffle looms | R
Japan
Japan Bond Market Sets Record for Nothing Happening | W
Geopolitics & trade
NATO, partners to discuss bolstering Ukraine air defence | R
Putin blames Europe for energy crisis as EU works on price cap | R
U.S. Suppliers Halt Operations at Top Chinese Memory Chip Maker | W
Industries & companies
Airlines: United adds new trans-Atlantic flights for summer 2023 in bet on travel recovery | C
Consumer Discretionary: Amazon cost cuts under Andy Jassy reflect new reality after 25 years | C
Tech: The CHIPS Act alone won’t secure US semiconductor supply chains | The Hill
Tech: Meta Quest Pro: A $1,500 Virtual-Reality Headset for Working in the Metaverse | W
Corporate finance
Philips to Take $1.3 Billion Write-Down on Sleep-Apnea Business | W
Vista Equity Nears Roughly $4.5 Billion Deal for Cybersecurity Provider | W
Beyond markets
Covid news: U.S. is tracking omicron subvariants but booster should protect | C
October 11 (Tuesday)
Latest Morning Briefing Executive Summary: More Inflation (News) Is Coming
The financial markets have been laser focused on inflation news this year, and are bracing for the next couple of days’ releases. Thursday’s CPI report for September is bound to move the markets, and tomorrow should bring a sneak peek of what it holds in store via the PPI release, specifically its personal consumption expenditures index. … Today, we examine the inflation information available to date in preparation for the big releases. … Notably, global supply-chain pressures eased in September, and the prices-paid indexes in both manufacturing and nonmanufacturing PMIs are way down from their peaks.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 10.
Markets
Nasdaq registers lowest close since July 2020; chips stocks fall | R
German bond yields jump after Scholz reported to support joint EU debt | R
Central banks
Two Fed Officials Make Case for Caution With Future Interest Rate Raises | W
Fed's Evans says fighting inflation is the top priority even if that means job losses | C
Ark's Cathie Wood issues open letter to the Fed, saying it is risking an economic 'bust' | C
Why Is the Fed Always Late to the Party? | The Big Picture
Bank of England Offers More Support for Pension Funds Amid Crisis | W
Global
World’s Emergency-Lending Capacity Is Getting Stretched as Crises Deepen | W
US
Price Increases Come Easily for Big Businesses, but Inflation Still Squeezes Profits | W
JPMorgan CEO Dimon warns of recession in 6 to 9 months - CNBC | R
Paul Tudor Jones believes we are in or near a recession and history shows stocks have more to fall | C
Fix the housing market by widening the pathway to work | Washington Examiner
Europe
Column: Pension fund jam may jolt private credit boom | R
Geopolitics & trade
Sweden won't share Nord Stream investigation findings with Russia - PM | R
Russia Unleashes Its Biggest Barrage of Strikes on Ukraine Since Invasion | W
Industries & companies
Autos: GM, Ford shares tumble after UBS downgrades cite weakening demand | C
Retail: Retailers Kick Off Black Friday in October Again, This Time With Too Much Stuff | W
Tech: PC shipments fall for HP, Lenovo and Dell but Apple shipments rise in Q3 | C
Corporate finance
Bio-Rad Laboratories in Talks to Combine With Qiagen | W
Climate
Earthquake rattles Taiwan, but epicentre out at sea | R
Beyond markets
Why China was quiet quitting well before the rest of the world caught on | C
October 10 (Monday)
Latest Morning Briefing Executive Summary: Volcker 2.0 vs Bernanke 2.0?
Our current Fed chief has recently turned to Paul Volcker’s playbook to fight inflation. The risk is that he will trigger the kind of financial instability that occurred during Ben Bernanke’s term as Fed chair. Powell and his colleagues seem hellbent on further rate hikes with no pause to assess the impacts of recent ones. One Fed governor recognizes the risks of doing so but agrees with the Fed’s risky course. Another one is quite dismissive of financial stability concerns. But we see red flags in the weakness of the housing market, the negative wealth effect, and the strength of the dollar. … Also: The labor market remains robust, but wage inflation may be peaking. … And: Dr. Ed reviews “Operation Mincemeat” (+ +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 3.
Markets
Growth Funds Gave Hopes to Investors in the Third Quarter. They Disappointed Instead. | BR
Since 1311 bond yields have fallen with metronomic regularity | E
Currencies
The U.S. Dollar Is Superstrong. 8 Ways to Invest Abroad. | BR
Strong Dollar Pressures U.S. Manufacturing Rebound | W
Global
A new macroeconomic era is emerging. What will it look like? | E
Elderly populations mean more government spending | E
Steel and Iron-Ore Prices Are Weakening as Global Economy Slows | BR
Central banks
Policymakers are likely to jettison their 2% inflation targets | E
Fed’s Inflation Fight Has Some Economists Fearing an Unnecessarily Deep Downturn | W
Payrolls Are Strong, Oil Is Rising, and the Fed Seems Intent on Raising Rates. | BR
US
The inflation problem will get better before it gets worse | E
Allianz Chief Economic Adviser El-Erian believes core inflation 'is still going up' | C
The Biden administration is quietly completing bits of Donald Trump’s wall | E
Europe
Europe Can Weather a Recession, Says Franklin Templeton’s Katrina Dudley | BR
Can Italy’s Giorgia Meloni afford the things she wants? | E
There are not enough Germans to do the jobs Germany needs | E
China
China’s Xi Is Getting a Third Term. Investors Are Hoping Something Gives. | BR
Xi’s Third Term Will Double Down on a Mission of Revitalizing Chinese Socialism | BR
Japan
Japan reopens to tourists with shuttered souvenir shops, hotel staff shortage | R
Energy
Why fracking cannot solve Europe’s energy crisis | E
Paris Cuts the Lights to Save Energy. Will It Help? | W
Geopolitics & trade
Russia Scrambles to Reconnect Supply Lines to Crimea After Bridge Explosion | W
Putin accuses Ukraine of Crimea bridge blast, calls it terrorism | R
North Korea launches missile toward sea after U.S.-South Korea drills | C
Industries & companies
Autos: Not Ready to Go Full EV? Some Car Companies Bet Bigger on Hybrids | W
Autos: Tesla sells record China-made vehicles in September following Shanghai factory upgrade | C
Media: Showtime chief's exit signals Paramount moving toward streaming merger | C
Retail: Retailers trot out 12-foot skeletons to boost Halloween sales | C
Corporate finance
Elon Musk’s Twitter Deal Is Very Pricey. Here’s the Math. | BR
Technology
Generative AI: Silicon Valley's next trillion-dollar companies? | C
Beyond markets
Space mining business still highly speculative | C
October 08 (Saturday)
Latest Morning Briefing Executive Summary: On Earnings, JOLTS & Housing
While S&P 500 forward revenues has hit successive record highs lately, the forward profit margin and forward earnings both peaked in June. Since then, forward earnings has been flat. We see more of the same for earnings given our expectation that economic growth will be close to zero in our growth recession scenario. … Also: One in three workers quit their jobs over the past year! But their ex-employers quickly rehired. We examine the reasons for the labor market’s mind-boggling pace of job churn. … And: Home affordability challenges have sent the recently hot housing market into a deep freeze. Melissa traces the causes and the effects on homebuilders.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 3.
Markets
Dow drops 600 points, Nasdaq closes 3% lower as rates pop after September jobs report | C
Treasury Yields Rise After Jobs Data | W
Energy
OPEC+ oil output cut shows widening rift between Biden and Saudi royals | R
EXCLUSIVE U.S. Navy jet flew across Baltic hours after Nord Stream burst | R
Central banks
Fed to deliver another big rate hike as job market fails to cool | R
Fed on Track for Another Large Interest-Rate Hike After Jobs Report | W
Fed Officials Say Stubborn Inflation Justifies Continued Rate Increases | W
September job gains affirm that the Fed has a long way to go in inflation fight | C
Global Fallout From Rate Moves Won’t Stop the Fed | N
US
U.S. Economy Added 263,000 Jobs in September, Labor Market Shows Signs of Cooling | W
Unemployment rate falls to 3.5% in September, payrolls rise by 263,000 as job market stays strong | C
Here's where the jobs are for September 2022 - in one chart | C
Europe
German Production Falls as Higher Energy Prices Hit Manufacturing | W
China
In China, a European executive becomes an increasingly rare critical voice | R
Geopolitics & trade
Biden Warns of Growing Nuclear Risk as Ukraine Slams Russia for Drone Use | W
U.S. buys radiation sickness drug as part of long-standing program | R
U.S. aims to hobble China's chip industry with sweeping new export rules | R
U.S. Restricts Semiconductor Exports in Bid to Slow China’s Military Advance | W
Industries & companies
Autos: New cars are finally back in stock, but they come at a steep price | C
Autos: Tesla stock had its worst week since March 2020 amid wild week for Musk | C
Autos: Rivian Recalling Nearly All of Its Vehicles | W
Retail: Amazon’s Prime Early Access Sale 2022: Here are the best deals | C
Media: You Hated Your Cable Package. Your Streaming Services Are Bringing It Back. | W
Pharma: FDA clears whooping cough vaccine for use during pregnancy to protect newborns | C
Beyond markets
Covid vaccines prevented at least 330,000 deaths among U.S. seniors in 2021 | C
New York City Declares Emergency Over Migrant Influx | W
October 07 (Friday)
Latest Morning Briefing Executive Summary:
On Earnings, JOLTS & Housing
While S&P 500 forward revenues has hit successive record highs lately, the forward profit margin and forward earnings both peaked in June. Since then, forward earnings has been flat. We see more of the same for earnings given our expectation that economic growth will be close to zero in our growth recession scenario. … Also: One in three workers quit their jobs over the past year! But their ex-employers quickly rehired. We examine the reasons for the labor market’s mind-boggling pace of job churn. … And: Home affordability challenges have sent the recently hot housing market into a deep freeze. Melissa traces the causes and the effects on homebuilders.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 3.
Markets
Wall Street closes lower as the Fed pounds rate hike drum | R
Stocks close lower as investors await September jobs report, Dow drops nearly 350 points | C
Why Wall Street shouldn't sweat the midterms | CNN
U.K. Bond Markets Come Under Pressure Again | W
Central banks
Fed Official Says Inflation Is ‘Stubbornly Persistent,’ Justifying Rapid Rate Rises | W
The Fed Wants to Quash Inflation. But Can It Do It More Gently? | N
The Fed Has to Stay the Course Against Inflation | W
Energy
Britain could face three-hour power cuts this winter, National Grid warns | R
Column: Third European smelter closure compounds zinc conundrum | R
Biden Weighs Options After OPEC+ Moves to Cut Oil Output | W
Shell Braces for Profit Hit From Volatile Natural-Gas Prices, Rising Costs | W
Column: Outsized OPEC+ output cut raises global risks | R
Global
IMF to Lower Global 2023 Growth Forecast Amid Shocks to Economy | W
US
Column: Earnings squeeze heralds winter freeze on Wall Street | R
U.S. Gasoline Prices Are Climbing Again, Pressuring Consumers | W
Conagra Says Food Inflation Shows Signs of Moderating | W
‘Hiring Has Never Been Harder!’ | W
Biden pardons thousands of people convicted of marijuana possession, orders review of federal pot law | C
Hunter Biden case: Feds believe evidence supports tax and gun charges | C
Industries & companies
Consumer Discretionary: How this popular Jeff Bezos quote drives Amazon's climate goals | C
Media: How YouTube Created the Attention Economy | The New Yorker
Corporate finance
Twitter, Elon Musk Talks Continue, Focus on Financing, Litigation | W
Beyond markets
Ebola: U.S. will screen people arriving at airports from Uganda | C
COVID wave looms in Europe as booster campaign makes slow start | R
October 06 (Thursday)
Latest Morning Briefing Executive Summary: On Earnings, JOLTS & Housing
While S&P 500 forward revenues has hit successive record highs lately, the forward profit margin and forward earnings both peaked in June. Since then, forward earnings has been flat. We see more of the same for earnings given our expectation that economic growth will be close to zero in our growth recession scenario. … Also: One in three workers quit their jobs over the past year! But their ex-employers quickly rehired. We examine the reasons for the labor market’s mind-boggling pace of job churn. … And: Home affordability challenges have sent the recently hot housing market into a deep freeze. Melissa traces the causes and the effects on homebuilders.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 3.
Markets
Stocks Close Lower After Two-Day Rally | W
Traders Pile Into Boom-or-Bust Options to Play Stock Market Volatility | W
Currencies & commodities
A Strong Dollar Is Wreaking Havoc on Emerging Markets. A Debt Crisis Could Be Next. | N
What a Strong U.S. Dollar Means for Investors | Morningstar
OPEC+ agrees deep oil production cuts, Biden calls it shortsighted | R
Central banks
Fed’s Rate Increases Defy All the Rules | W
Fed's Bostic says inflation fight "still in early days" | R
Geopolitics & trade
Ukraine recovers more territory in region Russia claims to have annexed | R
U.S. Looks to Ease Venezuela Sanctions, Enabling Chevron to Pump Oil | W
North Korea fires a ballistic missile into the Sea of Japan | C
Industries & companies
Autos: Ford ups starting price of electric F-150 Lightning pickup to $51,974 | C
Retail: How Macy’s Has Avoided—So Far—the Inventory Pileup Plaguing Other Apparel Chains | W
Corporate finance
Elon Musk and Twitter Discussed Price Cut to $44 Billion Takeover in Recent Weeks | W
Beyond markets
Colleges struggle with enrollment declines, underfunding post-Covid | C
October 05 (Wednesday)
Latest Morning Briefing Executive Summary: On Central Bankers, Stocks & Batteries
Policymakers in both China and the UK recently have made policy 180s, abandoning their former plans. Now US financial markets seem to think economic conditions will compel the Fed to do the same, ending this round of tightening sooner rather than later. … Did the stock market’s impressive comeback rally of the past two days benefit the same S&P 500 sectors and industries as last summer’s two-month rally did? Jackie takes a look, isolating the most dramatic winners and losers of both. … And: GM and other companies are charging ahead on the development of solid-state batteries for electric vehicles. In our ongoing coverage of disruptive technologies, we highlight some of their plans.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 3.
Markets
Sterling softens after UK PM Truss speech | R
Is the Efficient Market Hypothesis True? | US News
Global
Opinion | The First Global Deflation Has Begun, and It’s Unclear Just How Painful It Will Be| N
WTO Sees Sharp Slowdown in Global Trade, Pointing to Possible Recession, Lower Inflation | W
Energy
Column: Mission accomplished? Europe fills gas storage ahead of schedule | R
High prices, war in Ukraine, a cold winter ahead — and now OPEC+ piles on | The Hill
German minister criticizes U.S. over 'astronomical' natural gas prices | C
Central banks
Fed Official Says Inflation Fight Will Take Time, Despite Signs of Progress | W
Fed's delayed inflation fight sparks fears of a policy overcorrection | R
When Interest Rates Rise Fast, Markets Tend to Break: How to Spot the Cracks | W
US
U.S. Job Openings Fell in August, Layoffs Up Slightly | W
ADP jobs report September 2022: | C
Mortgage applications fall 14% as higher rates, Hurricane Ian crush demand | C
What Biden must do right now to fix our broken economy | FO
Biden’s Student-Loan Forgiveness Test: Processing Millions of Applications | W
Europe
Inflation, Consumer Pessimism Push U.K. Firms to Close Their Doors | W
Column: UK quake could spur pension fund asset 'hibernation' | R
Geopolitics & trade
South Korea, U.S. fire missiles into the sea to protest 'reckless' North Korea test | R
Industries & companies
Autos: U.S. Electric-Vehicle Tax Breaks Rile Asian, European Allies | W
Logistics: LNG shipping rates ‘shooting for the stars’ at $500,000 per day | freightwaves.com
Tech: Apple Told to Ditch Unique iPhone Charger in EU | W
Corporate finance
Elon Musk wants to buy Twitter for $44 billion again. What changed? | Vox
Beyond markets
These executives are asking their staff to work less for the same money. Will it pay off? | NN
October 04 (Tuesday)
Latest Morning Briefing Executive Summary: On Valuation, Liquidity & Inflation
The S&P 500’s forward P/E has sunk practically to its historical average of 15.0. What happens to it next depends much on what happens to the economy. If our growth recession scenario continues to play out (to which we subjectively assign 60% odds), the historical average valuation likely will hold and the S&P 500 drift sideways until climbing again in 2023; if a hard-landing recession scenario unfolds (40% odds), the P/E may sink into the single digits. … On the bright side, the financial markets have plenty of liquidity to buoy valuations. … Also: We look at what inflation has been doing by two different measures, the CPI and PCED, and examine how they differ.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on October 3.
Markets
Stocks surge to kick off October and a new quarter as bond yields tumble, Dow closes up 760 points | C
U.S. Stocks Rally to Start New Quarter | W
For Corporate America, Strong U.S. Dollar Cuts Both Ways | W
Column: Iron ore navigates choppy seas amid some positive China signs | R
Column: Crop Watch: Mass bean harvest fails to bring impressive yields | R
Energy
China Is Rerouting U.S. Liquefied Natural Gas to Europe at a Big Profit | W
US
U.S. manufacturing nearly brakes; price pressures abating | R
A new definition of what makes a job good | The Hill
Will DHS Again Leave H-2B Winter Industries Short Workers? | Cato at Liberty Blog
Port of New York moves ahead with ocean carrier empty container fee | C
Emerging
Right-wing wins in Brazil's Congress show staying power of 'Bolsonarismo' | R
Industries & companies
Airlines: Airlines Face a Shortage of New Boeing, Airbus Jets | W
Autos: As More Cars Hit Dealership Lots, Buyers Feel Pinch of Rising Interest Rates | W
Autos: Rivian production grows 67% in 3Q, confirms 2022 goals | C
Consumer Discretionary: Amazon's latest product announcements are a reminder the company is always watching | CNN
Tech: Apple’s Fall 2022 Event Products: Reviews of iPhone 14, iOS 16, Apple Watch Ultra, AirPods Pro 2 and More | W
Beyond markets
Ukrainian ambassador tells Elon Musk off after billionaire's Twitter poll | C
Trump sues CNN claiming defamation, seeks $475 million in punitive damages | R
October 03 (Monday)
Latest Morning Briefing Executive Summary: On Volcker 2.0, Recession & Inflation
The latest economic indicators suggest that the economy is doing better than expected—supported by consumer spending but dragged down by the housing recession—but also that inflation remains too high. That alignment increases the odds of more Fed tightening than previously expected, a higher terminal fed funds rate, and a Fed-induced hard landing. A hard landing isn’t currently our economic forecast—we see the growth recession continuing through year-end. But fears of a Fed-induced hard landing are increasing bearishness in both bond and stock markets. We are assessing whether our forecasts for both S&P 500 earnings and valuation might be too optimistic. … Also: Dr. Ed reviews “Blonde” (+).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 26.
Markets
Markets are reeling from higher rates. The world economy is next | E
After Punishing Year for Stocks, Investors Aren’t Betting on Post-Midterm Rally | W
Bond Yields Are Finally Looking Attractive. What to Buy Now. | BR
How to Build a Bond Ladder for Income | BR
Column: Dollar shock threatens global economy | R
Liability Driven Investment (LDI*) – quick explainer | Word Press
Energy
Russia’s Gazprom Suspends Gas Flow to Italy | W
OPEC+ to consider oil cut of over than 1 million barrels per day | R
Central banks
Central Banks’ Higher Rates, Bond Sales Clash With Government Needs | W
‘The Fed is breaking things’ – Here’s what has Wall Street on edge as risks rise around the world | C
Opinion | Is the Fed Braking Too Hard? | N
Column: BoE in murky water with qualified 'whatever it takes' | R
Global
A European Recession Will Hurt the U.S. Economy and Complicate the Defense of Ukraine | BR
US
Inflation Keeps the U.S. From Stepping In to Slow Dollar’s Rapid Rise | W
'Big Short' investor Michael Burry suggests current economic downturn could be 'worse than 2008' | P
Recession could be big obstacle for Starbucks, Amazon unions | C
Europe
U.K. Might Look Cheap, but It’s Hardly a Bargain Yet | BR
China
How to make sense of Xi Jinping, China’s enigmatic ruler | E
Geopolitics & trade
Autos: Lithium Demand From EVs Is Strong. Shortages Will Keep Prices High. | BR
Autos: Lithium-Ion Battery Inventor Introduces New Technology for Fast-Charging, Noncombustible Batteries | UT News
Autos: Toyota CEO Akio Toyoda talks EV skepticism, 'happy dance,' his legacy | C
Retail: Walmart bets inflation will push customers to join subscription service | C
Climate
To protect Germany’s green transition, accept coal and nuclear power, says Veronika Grimm | E
Biden to visit Florida and Puerto Rico as scale of Hurricane Ian's death and destruction emerges | C
Search and rescue efforts underway in Florida after 'catastrophic' hurricane | C
Beyond markets
Elon Musk’s Texts Shatter the Myth of the Tech Genius | The Atlantic
October 01 (Saturday)
Latest Morning Briefing Executive Summary: Troubled Times In The UK & China
In the UK, fiscal and monetary policy are at odds. Massive tax cuts and new spending programs will boost government debt—aggravating inflation even as the BOE is trying to subdue it. Bond Vigilantes clearly disapprove. … In China, the real estate sector is in shambles, and the government’s investments abroad are going belly up. A messy debt restructuring looks likely. The PBOC is hustling to prop up both the falling yuan and the weakening economy, introducing new rules to discourage shorting the currency and easing monetary policy at a time when other central banks are tightening.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 26.
Markets
Dow tumbles 500 points on Friday to end September down nearly 9% | C
Stocks Finish a Losing Week, Month and Quarter | W
Bonds May Be Having Their Worst Year Yet | N
Central banks
Fed’s Lael Brainard Warns on Inflation, Financial Stability Risks | W
PCE inflation August 2022: Inflation accelerated even more than expected in August | C
Energy
Nord Stream gas 'sabotage': who's being blamed and why? | R
U.S. has much to gain from Nord Stream damage, Russia says at U.N. | R
Nord Stream rupture may mark biggest single methane release ever recorded -UN | R
Exxon CEO Warns Biden Administration Against Limiting Fuel Exports | W
US
U.S. Consumers Boosted August Spending as High Inflation Spread | W
U.S. consumers spurn cars, couches and cruises, results show | R
Underlying Inflation Gained Steam in August | W
Why are ad sales slumping before the economy slumps? - Vox
Fast Food Chains Raise Millions to Oppose California Wage Law | W
House Approves Stopgap Funding Bill With Ukraine Aid | W
Europe
Eurozone Inflation Hits Record 10% Amid Energy Crunch | W
EU Approves Sweeping Energy-Market Intervention | W
S&P cuts UK rating outlook after tax cut plan | R
Geopolitics & trade
Russia Announces Annexation of Four Regions of Ukraine | W
U.S. Dismisses Annexation of Ukraine Regions and Imposes Sanctions on Russian Elites | W
U.S., allies need to be 'concerned' about attacks on Western infrastructure | R
North Korea fires ballistic missiles, marking fourth in a week | C
Industries & companies
Airlines: United Airlines to Suspend Operations at JFK at End of October | W
Autos: Electric and autonomous vehicle ETF falls 15% in September | C
Communications services: Facebook scrambles to escape death spiral as users flee, sales drop | C
Energy: Lithium-Ion Battery Inventor Introduces New Technology for Fast-Charging, Noncombustible Batteries - UT News | utexas.edu
Tech: Smart glasses from Amazon, Meta, and Snap are just the start | qz.com
Technology
Elon Musk Unveils Humanoid Robot Optimus at Tesla’s AI Day | W
Climate
Biden: Destruction from Hurricane Ian likely to be among the worst in U.S. history | R
Drought in U.S. West Leads Farmers to Look Elsewhere for Revenue | W
September 30 (Friday)
Latest Morning Briefing Executive Summary: Troubled Times In The UK & China
In the UK, fiscal and monetary policy are at odds. Massive tax cuts and new spending programs will boost government debt—aggravating inflation even as the BOE is trying to subdue it. Bond Vigilantes clearly disapprove. … In China, the real estate sector is in shambles, and the government’s investments abroad are going belly up. A messy debt restructuring looks likely. The PBOC is hustling to prop up both the falling yuan and the weakening economy, introducing new rules to discourage shorting the currency and easing monetary policy at a time when other central banks are tightening.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 26.
Markets
Stocks Close Lower in Volatile Day as Treasury Yields Resume Climb | W
Even as Oil Prices Ease, U.S. Keeps Tapping Strategic Reserve | N
Investors Fear Bond-Market Turmoil Is Entering a New Phase | W
Central banks & currencies
Fed policymakers press ahead with inflation fight, even with markets in turmoil | R
This ‘trifecta’ needs to see dampening inflation for the Fed to stop raising rates | C
Japan to confirm size of yen-buying intervention, eyes on size of war-chest | R
Europe energy
Russia says Nord Stream likely hit by state-backed 'terrorism' | R
US
U.S. Economy Weaker Than Thought in Year’s First Half, by One Measure | N
U.S. Jobless Claims Hit Lowest Level in Five Months | W
Why Are Companies Still Hiring When GDP Is Shrinking? | W
Mortgage Rates Rise to 6.7%, Highest Since 2007 | W
Some federal student loan borrowers cannot consolidate for forgiveness | C
China
China’s ‘Absurd’ Covid Propaganda Stirs Rebellion | N
Geopolitics & trade
Putin to host Kremlin ceremony annexing parts of Ukraine | R
Industries & companies
Autos: Toyota CEO doubles down on EV strategy amid criticism it's not moving fast enough | C
Pharma: FDA approves controversial new drug designed to slow the progression of ALS | C
Retail: How to make the most of Amazon's 'Prime Day' and Target's 'Deal Days' | C
Tech: Apple sparks tech sell-off; Alphabet, Microsoft hit 52-week lows | C
Climate
New York State to Ban Sale of Gasoline-Powered Vehicles by 2035 | W
September 29 (Thursday)
Latest Morning Briefing Executive Summary: Troubled Times In The UK & China
In the UK, fiscal and monetary policy are at odds. Massive tax cuts and new spending programs will boost government debt—aggravating inflation even as the BOE is trying to subdue it. Bond Vigilantes clearly disapprove. … In China, the real estate sector is in shambles, and the government’s investments abroad are going belly up. A messy debt restructuring looks likely. The PBOC is hustling to prop up both the falling yuan and the weakening economy, introducing new rules to discourage shorting the currency and easing monetary policy at a time when other central banks are tightening.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 26.
Markets
Wednesday’s market rally was ‘based on a dream’ | C
Global central banks & currencies
Bank of England Buys Bonds in Bid to Stop Spread of Crisis | W
Pension fund panic led to Bank of England's emergency intervention | C
Exclusive: China's state banks told to stock up for yuan intervention | R
'Do not bet': China's central bank PBOC warns against yuan speculation | C
Federal reserve
Column: Fed's neutral rate forecast nods to 'transitory', eventual pivot | R
Jerome Powell’s inflation-unemployment tradeoff | The Hill
Interest Rates and Fed Tightening | AIER
Fed has not done enough, must continue on its path to reset inflation expectations | C
Europe energy
Spain says Russia likely responsible for Nord Stream gas leaks | C
Fourth leak found on Nord Stream pipelines, Swedish coastguard says | R
Exclusive: Europe braces for mobile network blackouts | R
Energy Crisis Pushes German Industry to the Brink | W
Global
Developing Countries Face Stiff Economic Headwinds, World Bank Chief Says | W
US
How the United States is exporting inflation to other countries | NN
Opinion | FOMO Helped Drive Up Housing Prices in the Pandemic. What Can We Expect Next? | N
China
Chinese Developers Meltdown | C
Geopolitics & trade
How the CIA failed Iranian spies in its secret war with Tehran | R
Corporate finance
Brookfield Buys U.S. Renewable Developers for $1.5 Billion | W
Beyond markets
Ian now tropical storm after hitting Florida as a category 4 hurricane | C
The Jetsons, now 60 years old, is iconic. That's a problem. | Slate.com
September 28 (Wednesday)
Latest Morning Briefing Executive Summary: Recessions Here & There
The Fed is hawkish, investors are bearish, and now industry analysts are cutting their earnings estimates after FedEx’s recent warning about macroeconomic trends. ... The latest economic indicators still suggest a growth recession is underway in the US. … Over in Europe, economic prospects are dimming as the daylight hours shorten, with no gas likely from Russia this winter. Dour business sentiment in Germany suggests a broad-based recession there. … With debt limits for EU member countries suspended for another year, we expect governments to make plenty of investments, especially in digital and energy areas.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 26.
Markets
Dow Slips Again After Entering Bear Market | W
Treasury 10-Year Yields Rise Above 4% for First Time Since 2010 | B
Strong Dollar Is Good for the US but Bad for the World | N
Exclusive: China prepares to tweak yuan fixing process to slow its fall -source | R
Column: Copper price slump brings Chinese buyers out in force | R
Central banks
Fed Chair Powell warned of 'pain' to come. Seniors on fixed incomes are already feeling it | NN
Kashkari Says Fed Needs to Keep Tightening Until There’s Compelling Evidence of Declining Inflation | W
Fed's Daly: Do not want to tip economy into downturn | C
US
US Home Prices Fall: Case-Shiller 20-City Index Posts First Decline Since 2012 | B
July S&P Case-Shiller Index: Home prices cooled at the fastest rate in index history | C
Home Prices Suffer First Monthly Decline in Years | W
Stopgap Funding Bill Includes $12.3 Billion in New Ukraine Aid | W
Why is fiscal responsibility not discussed anymore? | The Hill
Geopolitics & trade
EU sees sabotage of Nord Stream, warns against attacks on 'active infrastructure' | R
Ukraine 'sham' referendum results point to Russia annexation | R
Industries & companies
Autos: EV Tax Credits to Spur More Vehicle Sales Are Entering a Critical Phase | W
Autos: Ford unveils new F-Series Super Duty trucks | C
Financials: Wall Street to Pay $1.8 Billion in Fines Over Traders’ Use of Banned Messaging Apps | W
Beyond markets
Opinion | Do Not Bring Your ‘Whole Self’ to Work | N
Cuba entirely without power after Hurricane Ian | R
Teacher, Staff Shortages Reported by About Half of Schools, Survey Finds | W
September 27 (Tuesday)
Latest Morning Briefing Executive Summary: Powell’s Latest Pivot Shocks Markets
Pessimism and bearishness are widespread; from a contrarian standpoint, that spells buying opportunities for the long term. … Meanwhile, monetary tightening appears to be making headway against inflation given the dollar’s strength and weakening commodity prices. We think PCED inflation peaked in June and is on track to fall to 3.0%-4.0% next year. One more 75bps rate hike in November may be enough. … We’ve reassessed our economic and stock market forecasts given renewed Fed hawkishness. We still expect a growth recession and range-bound S&P 500, but with greater short-term downside risk. And we now see the 10-year bond yield peaking at 4.25%. … Also: A dizzying review of Powell’s recent pivots.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 26.
Markets
Dow Industrials Fall Into Bear Market | W
The Dow is in a bear market. What does that mean? | R
Everything-Selloff on Wall Street Deepens on 98% Recession Odds | B
Why Bonds Make Sense for Your Portfolio | Financial Advisors | U.S. News
Central banks
Fed officials stare down markets, say inflation is top focus | R
Boston Fed President Says More Rate Increases Needed to Cool Inflation | W
Cleveland Fed’s Loretta Mester Says More Restrictive Policy Needed for Longer | B
China’s Central Bank Moves Further to Bolster the Yuan | W
US
Remote Work Drove Over 60% of US House-Price Surge, Fed Study Finds | B
Silicon Valley Had Its Heyday. Can Tech Ecosystems Now Grow Inland? | N
Biden’s Student-Loan Forgiveness Plan Could Cost $400 Billion, CBO Says | W
Europe
British Pound, Bonds Roiled as Tax-Cut Plans Spook Investors | W
China
World Bank Cuts China Growth Forecast as Covid-19, Real-Estate Crunch Take Toll | W
China Industrial Profits Slump Further as Producer Prices Slow | B
China Reins In Its Belt and Road Program, $1 Trillion Later | W
Japan
Japan’s 20-Year Bond Yield Rises Above 1% for First Time Since 2015 | B
Japan prepares to bid farewell to slain Abe with controversial state funeral | R
Geopolitics & trade
Ukraine annexation votes to end amid Russian mobilisation exodus | R
Iran says U.S. attempting to use unrest to weaken country | R
Russia’s War in Ukraine to Cost Global Economy $2.8 Trillion, OECD Says | W
Putin grants Russian citizenship to whistleblower Edward Snowden | C
Industries & companies
Airlines: Southwest Airlines hired a record 3,000 flight attendants so far this year | C
Autos: Ford Seeks New Trial After $1.7 Billion Jury Verdict in Truck Rollover Lawsuit | W
Autos: China's new electric cars cost more to insure than fuel-powered cars | C
Pharma: Biogen to pay $900 million to settle drug kickback allegations | C
Corporate finance
IPO Stocks Have Tumbled, Hobbling Demand for New Listings | W
Beyond markets
Latest Track for Tropical Storm Ian: Where It Will May Make Landfall | B
NASA’s DART Spacecraft to Crash Into Asteroid Tonight in Planetary Defense Test | W
September 26 (Monday)
Latest Morning Briefing Executive Summary: ‘Keeping At It’
We’re in a period of global gloom, with pessimism blanketing different countries for different reasons. In the US, measures of consumer, investor, and business sentiment all have sunk recently, which the stock market mirrors. America’s despondency stems much from the Fed’s words and deeds as it attempts to corral inflation at all costs. … Today, we offer a brief review of Fed Chair Powell’s public statements over recent months, tracing his increasing hawkishness. … And: How’s the economy been holding up in the face of Fed hawkishness? So far, so good. The latest data jibe with our growth recession scenario, but the risks of a full-blown recession are obviously increasing.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 19.
Markets
Buying the Stock-Market Dip Is Backfiring. Investors Keep Piling In Anyway. | W
Junk-Bond Yields Top 8%. It Could Be a Good Time to Buy. | BR
Why Standard Deviation Is the Wrong Way to Measure Risk in a Bear Market | BR
Never Mind Growth vs. Value Stocks, Look to Beta | Morningstar
Central banks
Central Banks May Stoke Risks by Raising Interest Rates Together | W
The Fed Appears More Optimistic Than Some Investors. Here’s Why. | N
Atlanta Fed President Bostic expects job losses but says there’s a really good chance to get to 2% inflation without killing the economy | C
US
The U.S. Is Running Short of Land for Housing | W
Fight Over Joe Manchin’s Permitting Overhaul Clouds Stopgap Funding Bill Outlook | W
Breaking Down New York’s Long-Awaited Fraud Lawsuit Against Donald Trump | The New Yorker
Europe
How afraid should Europe be of Giorgia Meloni? | E
Exclusive: Italy and Intel pick Veneto as preferred region for new chip plant | R
Geopolitics & trade
U.S. warns of catastrophic consequences if Russia uses nuclear weapons in Ukraine | R
Zelenskyy on Putin's threat of nuclear weapons: 'I don't think he's bluffing' | C
Vladimir Putin vows to send more invaders. The West should arm Ukraine faster | E
China Stresses Its Taiwan Stance at U.N. | W
North Korea fires ballistic missile ahead of U.S. VP Harris visit | R
Industries & companies
Autos: Toyota Engages With Critics of Its EV Push | W
Autos: Ford Stock Is Still a Buy, Despite Supply Issues. Here’s Why. | BR
Energy: APA Corp. Scours the Globe for Oil and Gas. Its Stock Could Surge. | BR
Financials: New minimum tax could hit Berkshire Hathaway and Amazon hardest, study shows | C
Healthcare: Healthcare Learned a Lot From Covid. 12 Ways to Invest Now. | BR
Media: 'Avatar' re-release shows franchise's overseas strength | C
Media: 'The Woman King' shows why the box office needs more mid-budget movies | C
Pharma: Trial Results for Biogen’s New Alzheimer’s Drug Are Coming Soon and Have Huge Implications | BR
Retail: What Kroger, Walmart, Target learned from China about grocery's future | C
Climate
An energy crisis and geopolitics are creating a new-look Gulf | E
Climate Change Forces French Vineyards to Alter the Way They Make Wine | W
Beyond markets
How to keep the brain healthy | E
Why Jack Welch Wouldn’t Cut It Today | Institutional Investor
September 24 (Saturday)
Latest Morning Briefing Executive Summary: Consumers, Lithium & Waves
With recession fears topping investors’ worry list, why has the cyclical S&P 500 Consumer Discretionary sector outperformed every other sector over the past two months? Jackie explores. … Also: Lithium demand is expected to surge in coming years, driven by EVs—but can supply keep up? Would-be lithium producers face daunting roadblocks. … And: A look at the latest wave in alternative energy, wave energy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 19.
Markets
Dow Closes at Lowest Level of 2022 as Growth Fears Roil Markets | W
Dow drops nearly 500 points to close at new low for 2022 on rising recession fears | C
Stocks tumble, dollar soars and bonds plunge as recession fears grow | R
From the Fed to Europe's currency crisis, here's what's behind this selloff in financial markets | C
Central bankers
World’s Central Banks Race to Raise Rates After Fed Increase | W
Energy
A Natural Gas Shortage Is Looming For The U.S. | OilPrice.com
Column: Recession will be necessary to rebalance the oil market | R
Europe
U.K.’s Sweeping Tax Cuts Send Pound Tumbling, Bond Yields Higher | W
Italy's election campaign ends, tensions between EU and right flares | R
Italy’s Election Is the First Test of the West’s Anti-Putin Resolve | W
US
Middle-Income Households Feel Bigger Pinch From Inflation, Report Finds | W
Geopolitics & trade
Russia holds votes in occupied parts of Ukraine; Kyiv says residents coerced | R
Industries & companies
Autos: Ford’s Latest Supply-Chain Problem: a Shortage of Blue Oval Badges | W
Materials: Column: Russian supply uncertainty weighs on aluminium market | R
Tech: Tech stocks notch worst two-week stretch since the start of pandemic | C
Beyond markets
Is the Hyperloop Doomed? | NYT
Some investors backing out of SPAC merging with Trump's media firm | R
World Bank’s David Malpass Says He Isn’t Resigning Amid Criticism of His Climate Views | W
September 23 (Friday)
Latest Morning Briefing Executive Summary: Consumers, Lithium & Waves
With recession fears topping investors’ worry list, why has the cyclical S&P 500 Consumer Discretionary sector outperformed every other sector over the past two months? Jackie explores. … Also: Lithium demand is expected to surge in coming years, driven by EVs—but can supply keep up? Would-be lithium producers face daunting roadblocks. … And: A look at the latest wave in alternative energy, wave energy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 19.
Markets
Bond selloff risks liquidation of world's most crowded trades- BofA | R
2-year Treasury tops 4.2%, a 15-year high as Fed continues to jolt short-term rates higher | C
Oil prices down 3% with recession fears in focus | R
Goldman Sachs cuts 2022 target for S&P 500 by 16% | R
HSBC warns investors to avoid European stocks | C
Central banks
ECB seeks to cut subsidy to banks as rate hikes leave it on hook, sources say | R
Global
War, Inflation Knock World Economy Off Balance | W
US
Charts suggest inflation could soon come down ‘substantially’ | C
From a booming economy to an economic bust! | Washington Examiner
Geopolitics & trade
Putin’s ‘incredibly dangerous’ nuclear threats raise the risk of an unprecedented disaster | C
Google Sees Russia Coordinating With Hackers in Cyberattacks Tied to Ukraine War | W
U.S. vs. China: The Race to Launch the Next Generation of Space Telescopes (video) | W
Industries & companies
Logistics: FedEx hikes package rates, details cost cutting as demand weakens globally | C
Pandemic
WHO warns ability to identify new Covid variants is diminishing as testing declines | C
September 22 (Thursday)
Latest Morning Briefing Executive Summary: Consumers, Lithium & Waves
With recession fears topping investors’ worry list, why has the cyclical S&P 500 Consumer Discretionary sector outperformed every other sector over the past two months? Jackie explores. … Also: Lithium demand is expected to surge in coming years, driven by EVs—but can supply keep up? Would-be lithium producers face daunting roadblocks. … And: A look at the latest wave in alternative energy, wave energy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 19.
Markets
Fed Rate Decision Sends U.S. Treasury Yields in Different Directions | W
Japan Jumps Into Market to Buy Yen for First Time in 24 Years; Currency Rallies | W
Japan intervenes in FX market to stem yen falls after BOJ keeps low rates | C
Energy
The U.K. has lifted its fracking ban, digging up a long-running debate | C
Central banks
The Fed forecasts hiking rates as high as 4.6% before ending inflation fight | C
Fed rate hike September 2022: Rates raised by three-quarters of a percentage point | C
US
U.S. Home Sales and Prices Fell in August as Mortgage Rates Rose | W
After Years of Low Mortgage Rates, Home Sellers Are Scarce | W
Workers’ Changing Attitudes Tighten Labor Market | W
Opinion | Can Republicans Tax the Rich? | N
House Approves Electoral Count Act Overhaul as Senate Weighs Own Changes | W
Europe
Italian election: Italy turns to the right with FDI's Georgia Meloni | C
Geopolitics & trade
Russia begins massive Ukraine war call-up, spurring some men to flee | R
Ukraine war: Russia arrests over 1,300 after Putin mobilizes troops | C
Biden Urges the World to Stand United Against Russia in Address to U.N. | W
Ecuador Reaches Deal With China to Restructure Debt | W
Semiconductor alliances between U.S. and Asia could hold back China | C
Industries & companies
Airlines: Airline tickets could become even more expensive, aviation execs warn | C
Communications services: Meta Quietly Reduces Staff in Cost-Cutting Push | W
Retail: Target plans to hire 100,000 seasonal workers and start deals early | C
Climate
China urges Europe to take positive steps on climate change | R
Will the Patagonia founder's gift help save the world? | The Week
September 21 (Wednesday)
Latest Morning Briefing Executive Summary: On Earnings & Central Banks
S&P 500 forward earnings works well as a leading indicator of actual results during expansions and a coincident indicator of them during recessions; the same goes for forward revenues and forward profit margins. … Our takeaways from the three forward data series add up to a flat forward earnings outlook through early next year—a rosy viewpoint amid widespread recession trepidation. Our forward earnings and P/E forecasts together suggest a range-bound S&P 500 for the rest of this year. … Also: Melissa ferrets out the policy intentions of the ECB and BOJ.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 19.
Markets
S&P 500 History Points to a Sharp Bounce After Fed Meeting | B
Why Index Funds Could Fade | BR
Woke Wall Street is in for a reckoning | FO
High Natural-Gas Prices Push European Manufacturers to Shift to the U.S. | W
Central banks
Fed expected to hike rates by three-quarters of a point again, but its forecast may matter most | C
‘Rip off the Band-Aid’: Wells Fargo makes case for 150 basis point hike at Fed meeting | C
US
Climbing Housing Costs Could Prop Up Inflation for a While | W
August Home-Sales Report Comes as Mortgage Rates Rise | W
Mortgage demand rises for the first time in six weeks, despite sharply higher interest rates | C
The puzzling disconnect between production and employment | Hill
Democrats’ push for guaranteed income is a slap in the face to working people | P
Food Supply Stays Tight as Disappointing U.S. Harvest Adds to Global Challenges | W
China
China’s Vast 14,000-Bed Covid Isolation Center Revealed in Drone Footage | B
Geopolitics & trade
Putin accuses West of 'nuclear blackmail', mobilises more troops for Ukraine | R
Germany nationalizes energy giant Uniper as Russia squeezes gas supplies | C
European businesses are rethinking their plans for a ‘closed’ China | C
Industries & companies
Airlines: American Airlines will add new premium suites in 2024 in race for high-paying travelers | C
Autos: Ford stock suffers worst day since 2011 after cost warning, shedding $7 billion in market value | C
Technology
Watch Regent take its prototype electric seaglider out for a test flight | C
The robots are here. And they are making you fries. | WP
September 20 (Tuesday)
Latest Morning Briefing Executive Summary: How’s Business?
Today we focus on business sales, showing how it relates to the key economic indicators that feed into our economic outlook and how it correlates with S&P 500 companies’ aggregate and forward revenues, feeding into our stock market outlook. … For the economy, we forecast a “rolling recession”—a.k.a. “growth recession”—that depresses different industries at different times but avoids shrinking the overall economy. For the S&P 500, we estimate forward EPS of $215 this year, up 3.1% y/y, and $235 next year, up 9.3%.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 19.
Markets
Stocks Rise as Investors Await This Week’s Fed Meeting | W
Wall Street ends choppy session higher with focus firmly on Fed | R
Dow closes nearly 200 points higher, stocks snap two-day losing streak to start big Fed week | C
Need Your Money Now? The Markets Aren’t Helping. | N
Credit
10-year Treasury yield jumps to 3.51%, the highest level since 2011 | C
Rising Bond Yields Change the Calculus for Stocks | W
Central banks
Jerome Powell’s Inflation Whisperer: Paul Volcker | W
US
More homebuilders lower prices, sentiment falls for ninth straight month | C
Put Away the Smelling Salts, the Fed Doesn’t Threaten Washington’s ‘Solvency’ | FO
The Subprime Loans for College Hiding in Plain Sight | N
Geopolitics & trade
China Is Capable of Blockading Taiwan, U.S. Navy Commander Says | W
EU Seeks New Powers Over Supply Chains During Emergencies | W
Industries & companies
Airlines: FAA rejects proposal to halve pilots' flight-time requirement amid shortage | C
Autos: Ford Warns Parts Shortages Will Lead to Higher-Than-Planned Number of Unfinished Vehicles | W
Materials: This Should Have Been a Great Year for Gold. Here’s Why It Isn’t. | W
Corporate finance
VW Sets Price Range for Porsche IPO | W
Technology
China’s Factories Accelerate Robotics Push as Workforce Shrinks | W
Beyond markets
Biden Draws Criticism for Saying Covid-19 Pandemic Is Over | W
September 19 (Monday)
Latest Morning Briefing Executive Summary: On Blackouts & Liquidity
Fed Chair Powell seems to be channeling his 1970s predecessor Paul Volcker—who masterfully tamed high inflation amid a severe recession. Today, we assess how August’s CPI shocker may alter the FOMC’s economic projections and policy decisions. … We expect Wednesday’s FOMC meeting to bring a 100bps hike in the fed funds rate to 3.25%-3.50% and more hawkish projections of committee members, suggesting a terminal rate this tightening cycle of 4.25%-4.50%. … For the economy, we expect the current rolling recession to continue without turning into an official recession because there is ample liquidity to avert a credit crunch. And: Dr. Ed reviews “Five Days at Memorial” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
Stocks subdued, dollar firm for central bank jamboree | R
Oil Prices Retreat After an Earlier Surge. Why That Makes Perfect Sense. | BR
Dollar off 20-year peak as Fed headlines big central bank week | R
Dollar’s Rise Spells Trouble for Global Economies | W
Central banks
Do Wages Drive Prices, or Vice Versa? The Answer Matters for Interest Rates | W
US
Consumers Show Signs of Uncertainty Amid High Inflation | W
America still has an inflation problem | E
Emerging markets
India, Indonesia, and Brazil Are About to Outshine Other Emerging Markets. Here’s How Investors Can Profit. | BR
‘At the Breaking Point’: Tibetans, Under Lockdown, Make Rare Cries for Help | N
China’s Factories Accelerate Robotics Push as Workforce Shrinks | W
China’s Ponzi-like property market is eroding faith in the government | E
Frugal is the new cool for young Chinese as economy falters | R
Geopolitics & trade
Biden says U.S. forces would defend Taiwan in the event of a Chinese invasion | R
Vladimir Putin’s Energy War With Europe Seems to Falter | W
Vladimir Putin’s war is failing. The West should help it fail faster | E
Op-ed: Putin's battlefield failures provide an opportunity for the world to step up efforts to help end the war in Ukraine | C
Industries & companies
Autos: Electric Vehicles Took Off. Car Makers Weren’t Ready | W
Energy: Electric Bills Soar Across the Country as Winter Looms | W
Financials: Big Regional Banks Might Face New Rules for Dealing With a Crisis | W
Materials: Newmont Stock Cheap and Has a 5% Dividend Yield. It’s Time to Buy. | BR
Media: Netflix and Disney+ Ads Are Almost Here. What It Means for Streaming Stocks. | BR
Retail: Home-Goods Retailers Jolted by Slowdown in Housing Market | W
Retail: Bed Bath & Beyond closing 150 stores. Map of ones on the list so far | C
Climate
Devastating floods like Pakistan’s will be more common in a warming world | E
Corporate finance
Volkswagen targets $70.1 billion to $75.1 billion valuation in planned Porsche IPO | C
Technology
China testing floating car that uses magnets to hover at 143 mph | C
Beyond markets
As Britons Wait to See Queen’s Coffin, ‘The Queue’ Takes On a Life of Its Own | W
Games That Push the Brain to the Limit Get Scientists’ Attention in Fight Against Dementia | W
September 17 (Saturday)
Latest Morning Briefing Executive Summary: MegaCap-8, Strikes & Hydrogen
How the mighty have fallen. We’re talking about the eight large-capitalization stocks dubbed the “MegaCap-8,” which collectively—and most individually—have sorely underperformed benchmarks. When these behemoths swoon, most Growth portfolios feel the thud. … Also: Unions are up in arms over wages that aren’t surging as fast as inflation, and they’re feeling empowered by the tight labor market. Strikes may be coming. Jackie looks at some hot spots in various industries. … And: Don’t dismiss hydrogen as a green alternative to fossil fuels. It’s starting to look like the go-to fuel source for energy-intensive industrial processes.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
U.S. Stocks Close Lower After FedEx Warning | W
Stocks close lower on Friday, extending sell off for worst week since June for S&P 500 and Nasdaq | C
Energy
Column: U.S. gas producers struggle to meet demand | R
Putin tells Europe: if you want gas then open Nord Stream 2 | R
Germany Takes Control of Oil Refineries Owned by Russia’s Rosneft | W
Central banks
Forecast for Fed terminal rate hits new high, shaking stocks and bonds | R
US
Strikes Becoming More Common Amid Inflation, Tight Labor Market | W
As Mortgage Rates Top 6%, More Borrowers Choose Adjustable-Rate Loans | W
NYC Mayor Eric Adams asks tech execs to keep companies in the city | C
New York City is nearing the tipping point in return to office work | C
Geopolitics & trade
Putin Threatens to Walk Away From Ukraine Grain Deal | W
Exclusive: Zelenskiy accuses Russia of war crimes, sees no early end to war | R
Industries & companies
Retail: Home Depot’s customers have been resilient despite turmoil, CEO says | C
Shipping: FedEx Stock Tumbles After Warning on Economic Trends | W
Technology
Scientists hail autoimmune disease therapy breakthrough | Science | The Guardian
Crypto
Here's what's in Biden framework to regulate crypto | C
September 16 (Friday)
Latest Morning Briefing Executive Summary: MegaCap-8, Strikes & Hydrogen
How the mighty have fallen. We’re talking about the eight large-capitalization stocks dubbed the “MegaCap-8,” which collectively—and most individually—have sorely underperformed benchmarks. When these behemoths swoon, most Growth portfolios feel the thud. … Also: Unions are up in arms over wages that aren’t surging as fast as inflation, and they’re feeling empowered by the tight labor market. Strikes may be coming. Jackie looks at some hot spots in various industries. … And: Don’t dismiss hydrogen as a green alternative to fossil fuels. It’s starting to look like the go-to fuel source for energy-intensive industrial processes.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
U.S. Stocks Close Lower as Investors Eye Next Fed Meeting | W
Oil extends losses on recession fears | R
Dollar holds ground ahead of Fed, yuan under pressure | R
Global
World Bank sees rising risk of global recession in 2023 | R
Globalization of trade isn't ending, despite Covid, war, inflation | C
Central banks
Opinion: 3 things the Fed needs to see before it stops hiking rates | NN
US I
U.S. Retail Sales Rose 0.3% in August, Showing Resilience in Face of Inflation | W
U.S. Jobless Claims Fell Last Week | W
US II
This is how much Social Security benefits are likely to rise next year | MSN
Mortgage Rates Top 6% for the First Time Since the 2008 Financial Crisis | W
Biden says haters won't have 'last word'; wants to end social media immunity | R
Europe
Households a Wild Card as Europe Moves to End Russian Gas Dependence | W
How Did Europe Stumble Into an Energy Catastrophe? (nymag.com)
China
China economy: August industrial output, retail sales | C
Japan
Japan PM's support tumbles as anger over state funeral grows | R
Geopolitics & trade
Russia’s Vladimir Putin Says China’s Xi Jinping Raised Concerns on Ukraine War | W
Ukraine Battles Flooding After Russian Strike on Dam | W
Industries & companies
Chemicals: From Shortage to Glut: Scotts Miracle-Gro Is Buried in Fertilizer | W
Railroads: Railroads and labor unions reach tentative deal to avert strike | C
Shipping: FedEx CEO says he expects the economy to enter a ‘worldwide recession’ | C
Shipping: FedEx to Close Offices, Park Aircraft After Warning of Sales Shortfall | W
September 15 (Thursday)
Latest Morning Briefing Executive Summary: MegaCap-8, Strikes & Hydrogen
How the mighty have fallen. We’re talking about the eight large-capitalization stocks dubbed the “MegaCap-8,” which collectively—and most individually—have sorely underperformed benchmarks. When these behemoths swoon, most Growth portfolios feel the thud. … Also: Unions are up in arms over wages that aren’t surging as fast as inflation, and they’re feeling empowered by the tight labor market. Strikes may be coming. Jackie looks at some hot spots in various industries. … And: Don’t dismiss hydrogen as a green alternative to fossil fuels. It’s starting to look like the go-to fuel source for energy-intensive industrial processes.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
Stocks Edge Higher After Steep Selloff | W
Markets Keep Making the Same Mistake About Inflation | W
Oil rises on weakening dollar, potential supply disruptions | R
Central banks
Brace for recession as the Fed spikes interest rates and inflation soars | NYP
Federal Reserve Wants Citigroup to Move Faster to Fix Problems With Its Risk Systems | W
US
Inflation for U.S. Suppliers Remained Elevated in August | W
U.S. Inflation Remained High in August | W
Possible U.S. Railroad Strike Could Fuel More Inflation | W
Battery Recycling Race Heats Up After Inflation Reduction Act | W
Europe
Russia’s Economic War Hits Europe’s Factories | W
Japan
Japan posts record trade deficit in August as energy imports soar | R
Industries & companies
Autos: 2024 Ford Mustang: Gas-powered muscle car to take on electric rivals | C
Autos: Ford asks dealers to invest in EVs as it chases Tesla-like profit | C
Autos: Tesla struggles with Elon Musk's strict return to office policy | C
Railroads: U.S. passenger railroad Amtrak to cancel all long-distance trains | C
Geopolitics & trade
China’s next Taiwan targets are lifelines of the US economy | The Hill
Russia Strikes Zelensky’s Hometown as Ukrainian President Visits Recaptured Territory | W
Ukraine's Zelenskiy sees damage in recaptured towns; Russia strikes city water system | R
Technology
Taiwan president warns of 'volatile' challenges facing chip industry | R
Climate
Patagonia founder gives away company to help fight climate crisis | R
Newsom to CNBC: California avoided rolling blackouts in extreme heat
September 14 (Wednesday)
Latest Morning Briefing Executive Summary: Corporate Finance Review
An Austrian assessment of August’s CPI. … And: It’s time again to focus on US corporate finance. We find American businesses in great shape—with record-high profits and cash flow on income statements and solid balance sheets. The effect of the chronic labor shortage on profit margins is businesses’ biggest challenge, but workarounds are coming that should boost productivity. … Also: Progressives give share buybacks a bad name, but they play a key role in corporate finance: counteracting the dilution from stock compensation plans. … And: Both worker compensation and capital spending remain on healthy uptrends, also contrary to popular (progressive) belief. … Finally, we recap capital markets activity from Fed data.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
Analysis: Why the dollar's wrecking-ball rally is not done yet | R
Central banks
Inflation Data Scrambles Fed Rate Outlook Again | W
Energy
EU seeks $140 billion to cope with energy crisis as utilities teeter | R
EU Seeks to Raise $140 Billion Clawing Back Energy Profits | W
EU plans windfall levies on energy firms to tackle price spike | R
Europe can shrug off Putin’s Chinese gas Plan B | R
Global Oil Demand Undermined by China Lockdowns, IEA Says | W
US
Inflation isn't just about fuel costs anymore, as price increases broaden across the economy | C
U.S. Inflation Remained High in August | W
Feel burnt out at work? The Great Resignation left many workers behind. - Vox
Mortgage demand declines 29% from last year as rates eclipse 6% | C
Europe
UK inflation rate unexpectedly dips to 9.9% as fuel prices decline | C
Geopolitics & trade
EXCLUSIVE U.S. weighs China sanctions to deter Taiwan action, Taiwan presses EU | R
Putin, Erdogan to Meet Amid Questions Over Ukraine Grain Deal | W
As Ukraine recaptures lost land, is this a turning point in the war? | C
Industries & companies
Retail: Walmart, Target Urge Lawmakers to Pass Bill Taking Aim at Visa, Mastercard Fees | W
Pandemic
Johns Hopkins Slows Frequency of Covid-19 Data Publication | W
Covid-19 booster shots may become as routine as the flu shot | MSNBC
Corporate finance
Wall Street slump leads to 50% plunge in JPMorgan advisory revenue | C
Beyond markets
Royal Family Will Unite to Accompany Queen Elizabeth II’s Coffin Through London | W
September 13 (Tuesday)
Latest Morning Briefing Executive Summary: Keeping Up With The Joneses
Q2 GDP revisions may well show that the US economy was not in a recession during H1 after all. If so, we have the consumer to thank. Consumer spending has held up well this year despite depressed sentiment and inflation-eroded purchasing power. But purchasing power soon should get a shot in the arm as wage inflation starts outpacing price inflation. … Also: A look at how much the average US household spends and on what. … News flash: “The Joneses” have been spending as though they’ve never been better off—because they haven’t! Inflation-adjusted consumption per household has been running at a record high.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
US Inflation Data Will Determine If Stock Rally Continues | B
Inflation 'collapse' will spark big stock market gains: Credit Suisse | C
JPMorgan slashes EM corporate debt issuance forecast by a third | R
Commodities & currencies
Oil Extends Advance as Weaker US Dollar Offsets Demand Concerns | B
U.S. emergency oil reserves tumble to lowest since 1984 | R
U.S. Gasoline Prices Are Down 13 Weeks in a Row | W
Central banks
NY Fed Says Consumers Saw in August Steep Declines in Future Inflation | W
Falling gas prices are raising hopes that inflation is slowing, New York Fed survey shows | C
Fed is likely to pause by year end, says Evercore's Julian Emanuel | C
Earliest BOJ Shift May Come in Mid-2023, Ex-Board Member Says | B
US
Sliding Earnings Forecasts Pose Next Test for Markets | W
World's Hottest Housing Markets Are Down All Over as Interest Rates Hike | B
Guaranteed Income Programs Spring Up City by City | N
Industries & companies
Financials: Goldman Sachs to kick off Wall Street layoff season with hundreds of job cuts this month | C
Restaurants: Starbucks to unveil 'reinvention' strategy at investor day on Tuesday | C
Tech: Apple iOS 16 released: Here's what's new and how to get it | C
Travel: Expedia CEO: 'Business travel is back' true to my pandemic prediction | C
Technology
Assembly OSM makes pre-fab high rises like Boeing makes airplanes | C
Pandemic
Covid-19 Illnesses Are Keeping at Least 500,000 Workers Out of U.S. Labor Force, Study Says | W
September 12 (Monday)
Latest Morning Briefing Executive Summary: What’s The Matter With Productivity?
We aren’t giving up on our “Roaring 2020s” scenario. The idea is that labor shortages should trigger capital spending on technology that boosts productivity. The pandemic derailed that train over the first three years of the decade, exacerbating the chronic labor shortage and temporarily squashing productivity growth. We expect productivity growth to resume during H2 and strengthen to peak around 3.5%-4.0% within the next few years. … Boosting this rosy scenario: US manufacturers are spending more on productivity-enhancing tech as they expand domestic production capacity—which should continue as they move out of China.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
Wall Street’s top analysts are bullish on these stocks amid an uncertain economy | C
Europe’s Unfolding Crises Could Impact U.S. Stocks. Here’s How. | BR
For Wall Street, a Strong Dollar Is Front and Center | W
Market Volatility Spells Opportunity for Options-Savvy Investors | BR
Why Is the Dollar So Strong? American Innovation | W
ESG on the edge: Controversy weighs on sustainable ETFs | C
Energy I
How Europe’s Energy Crisis Could Play Out | BR
How to deal with Europe’s energy crisis | E
Oil Prices Slump as Recession Fears Grow | W
Treasury Spells Out How Firms Can Comply With Russian Oil-Price Cap | W
Energy II
Korean nuclear fusion reactor achieves 100 million°C for 30 seconds | New Scientist
Elon Musk Slams Fusion, Says Future of Energy Is Wind and Solar | Futurism
Central banks
Quantitative Tightening Is About to Ramp Up. What It Means for Markets. | BR
US
Inflation Showed Signs of Easing in Several Industries in August | W
U.S. Heat Wave Hits Supermarkets’ Produce Sections | W
China
Will China’s economy ever overtake America’s? | E
Evergrande crisis deepens after lender seizes headquarters | FT
Geopolitics & trade
Xi to meet Putin in first trip outside China since COVID began | R
West weighs contentious anti-China move as U.N. rights council opens | R
Ukraine offensive 'snowballs' with fall of Russian stronghold | R
India’s Rice Export Ban to Further Strain Global Food Supplies | W
Industries & companies
Consumer discretionary: Amazon Buys Warehouse Robotics Company Cloostermans | W
Financials: PNC Financial Services Has Big Ambitions—and a 3.4% Dividend Yield | BR
Materials: Alcoa Has a Plan for Zero Emissions. Buy the Stock While It’s a Bargain. | BR
Retail: Should You Buy Target Stock? Yes, Its Problems Won’t Last Forever. | BR
Retail: Where Walmart, Amazon, Target are spending billions in slowing economy | C
Theme Parks: Everything we learned at Disney's parks panel at the 2022 D23 Expo | C
Pandemic
Covid-19 Is Still Killing Hundreds of Americans Daily | W
September 10 (Saturday)
Latest Morning Briefing Executive Summary: Bad Times In Europe & China
European governments aren’t about to leave their people out in the cold after Russia suspended its gas deliveries to Germany indefinitely. Jackie examines plans they’ve pulled together to keep people warm, businesses open, and utilities financially viable. … Also: China has been fighting to vanquish Covid via strict lockdowns whenever and wherever the slippery foe appears. The government’s failure to rid the country of Covid is one problem leaders will want to keep swept under the rug when the Chinese Communist Party meets in mid-October. Another is a UN report shining a spotlight on China’s outrageous human rights abuses perpetrated against Uyghurs.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
Dow closes more than 300 points higher; stocks snap 3-week Fed-induced slide | C
Forced Buying Puts a Price Floor Under Stocks Nobody Else Wants to Own | B
Credit
Municipal Bonds Suddenly Look Cheap. Some Are Tax Traps. | W
Buy US High-Yield Debt as Inflation Hedge, Nuveen’s Malik Says | B
Energy
European Governments Back Broad Intervention in Energy Markets | W
Russian oil price cap: G-7 tries to recruit countries | C
How a CEO Rescued a Big Bet on Big Oil; ‘There Were a Lot of Doubters’ | W
Central banks
Fed Officials Back Another Large Rate Increase | W
Fed's Waller: need aggressive rate hikes now while economy can take it | R
How the Fed Screwed Up the Housing Market
US
Confused about the housing market? Here's what's happening | C
US Household Net Worth Falls Most on Record on Slump in Stocks | B
New Tax on Stock Buybacks Would Have Raised Over $8 Billion in 2021, Study Says | W
UK
Prince Charles became king after Queen Elizabeth II’s death. How will he rule the UK? | Vox
Queen Elizabeth's death comes as a new economic era for UK begins | C
Geopolitics & trade
U.S. working with U.N. on Russia food, fertilizer export complaints | R
Ukraine’s Rapid Advance in East Puts Russian Forces on Defensive | W
France, Germany and Other EU Countries Pledge to Advance Minimum Tax | W
White House Weighs Order to Screen U.S. Investment in Tech in China, Other Countries | W
Industries & companies
Airlines: Democrats want probe of airline Covid bailouts over staff buyouts | C
Media: Summer Movie Season Fizzles Out, With Few Blockbusters to Count On This Fall | W
Climate
California Wildfires Force Evacuations, While Fire Threat in Oregon Causes Power Shutdowns | W
Beyond markets
New York declares polio state of emergency to boost vaccination rates | C
September 09 (Friday)
Latest Morning Briefing Executive Summary: Bad Times In Europe & China
European governments aren’t about to leave their people out in the cold after Russia suspended its gas deliveries to Germany indefinitely. Jackie examines plans they’ve pulled together to keep people warm, businesses open, and utilities financially viable. … Also: China has been fighting to vanquish Covid via strict lockdowns whenever and wherever the slippery foe appears. The government’s failure to rid the country of Covid is one problem leaders will want to keep swept under the rug when the Chinese Communist Party meets in mid-October. Another is a UN report shining a spotlight on China’s outrageous human rights abuses perpetrated against Uyghurs.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
Stocks End Higher Amid New Fed Comments | W
Broad Declines Drag Bonds Into Rare Bear Market | W
Central banks
Fed’s Powell Affirms Need to Act Strongly to Fight Inflation | W
Powell vows to raise rates to fight inflation 'until the job is done' | R
Fed's Powell: Fed's two mandates not in conflict | R
Businesses Expect Economy to Lose More Steam, Fed’s Beige Book Says | W
ECB Raises Interest Rates by Historic 0.75 Point as Europe Stares at Recession | W
US
Mortgage Rates Hit 5.89%, Highest Level Since 2008 | W
Why We Expect Inflation to Fall in 2023 | Morningstar
Opinion: We could see slow economic growth for the rest of the decade | NN
Janet Yellen Renews Call for Tax Hikes on Rich, Social-Spending Boost | B
Yellen sees lower gas prices putting downward pressure on U.S. inflation | R
Yellen says Inflation Reduction Act, CHIPS Act rescue U.S. economy | R
China
China’s Lending Strategy in Emerging Markets Risks Prolonging Borrowers’ Pain | W
Geopolitics & trade
Exclusive: German economy ministry reviews measures to curb China business | R
N.Korea makes nuclear weapons policy 'irreversible' with new law - KCNA | R
Russian Billionaire Mikhail Fridman Offers $1 Billion to Ukraine in Hope of Sanctions Relief | W
Industries & companies
Autos: GM bets on electric Equinox to kick-start 'massive adoption' of EVs | R
Climate
Edison Warns Southern California Customers of Power Shutoff on Fire Risk | B
Wildfires Add New Threat to Escalate California’s Power Crisis | B
Companies Are Buying Large Numbers of Carbon Offsets That Don’t Cut Emissions | W
Beyond markets
Queen Elizabeth II Dies at 96 After 70 Years on the Throne | W
NASA repairing hydrogen leak to launch Artemis 1 mission in late Sept | R
September 08 (Thursday)
Latest Morning Briefing Executive Summary: Bad Times In Europe & China
European governments aren’t about to leave their people out in the cold after Russia suspended its gas deliveries to Germany indefinitely. Jackie examines plans they’ve pulled together to keep people warm, businesses open, and utilities financially viable. … Also: China has been fighting to vanquish Covid via strict lockdowns whenever and wherever the slippery foe appears. The government’s failure to rid the country of Covid is one problem leaders will want to keep swept under the rug when the Chinese Communist Party meets in mid-October. Another is a UN report shining a spotlight on China’s outrageous human rights abuses perpetrated against Uyghurs.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
Dow closes more than 400 points higher, Nasdaq snaps 7-day slump as Wall Street shakes off rate hike concerns | C
Stocks Shrug Off Growth Concerns, Rise in Broad-Based Reversal | W
Stocks Set for Reprieve After Drop in Oil, Yields: Markets Wrap | B
Wall Street reaches four-week highs as bond yields drop | R
Central banks
Fed on Path for Another 0.75-Point Interest-Rate Lift After Powell’s Inflation Pledge | W
U.S. firms see tentative progress on inflation and labor supply, Fed says | R
Fed Vice Chair Brainard vows ‘we are in this for as long as it takes’ to stop inflation | C
New Fed banking chief targeting crypto and climate change as top priorities | C
Fed’s Top Banking Regulator Signals Tougher Merger Reviews, ‘Living Wills’ | W
US
Quiet Quitters Make Up Half the U.S. Workforce, Gallup Says | W
The Case for a Soft Landing: How High Inflation Could End Without Recession | W
It's a Housing Slump, Not a Crisis | B
Gas Prices Can Rev Up Spending Again | W
China
Exports, the Engine of China’s Slowing Economy, Are Sputtering | W
How China Has Added to Its Influence Over the iPhone | N
China Puts Cement Shoes on Metals: Elements by David Fickling | B
Europe
Fast EU Deal on Fiscal Rules Would Cheer Markets, Gentiloni Says | B
Geopolitics & trade
EU plans to cap Russian gas price as Putin warns West of winter freeze | R
The chips are down: Putin scrambles for high-tech parts as his arsenal goes up in smoke | PO
Russia Destroyed Mariupol. Now It’s Using It for Propaganda. | W
Technology
The Supply Chain Broke. Robots Are Supposed to Help Fix It. | N
Corporate finance
China Evergrande’s Stake in Regional Bank Sold for $1.05 Billion | W
Crypto
'Blockchain is bunk': Crypto critics find their voice
El Salvador's Bitcoin Experiment a Failure | National Review
Climate
California Gov. Newsom says prolonged extreme heat is a wake-up call on climate change | C
EXCLUSIVE: Former Greenpeace Founder Patrick Moore Says Climate Change Based on False Narratives
The energy historian who says rapid decarbonization is a fantasy | LA Times
September 07 (Wednesday)
Latest Morning Briefing Executive Summary: Can TINAC Survive A Global Recession?
Prospects for a global recession have risen in the wake of recent geopolitical developments. Global economic indicators have been showing signs of weakness too. … If the global economy sinks into a recession, will the US economy follow suit, as typically has happened in the past? Not necessarily this time. We still expect no more than a “rolling recession” that hits different sectors at different times without an economy-wide downturn. … Our rationale for recommending overweighting US stocks in global portfolios still holds—i.e., there is no alternative country (TINAC). ... And: Joe clears up some confusion about Q2 earnings.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on September 6.
Markets
U.S. Stocks End Lower After Labor Day Weekend | W
U.S. Dollar Strength Lifts Americans’ Relative Spending Power | W
U.S. bonds: U.S. Treasury yields rise following strong economic data | C
US
Conflicting Surveys Paint Mixed Picture of Services Providers | W
California Power Grid Faces Biggest Blackout Risk of Year as Heat Wave Intensifies | W
Manchin Plan to Fast-Track Energy Projects Headed for Showdown | B
Europe
Energy crisis: Why has Russia cut off gas supplies to Europe? | C
The Dirty Job of Rationing Electricity and Gas: Elements by Javier Blas | B
Germany to keep two nuclear plants available as a backup, burn coal | C
China
A Slowing China Helps Rein In Inflation Around the World | W
China's ESG Fund Investing Boom Follows Xi's Political Agenda | B
Geopolitics & trade
Ukraine's Zelenskiy 'rings' NYSE bell, seeks $400 bln in foreign investment | R
Industries & companies
Airlines: How airlines give you internet access at 35,000 feet — and why it still needs a lot of work | NN
Beyond markets
People who recently caught Covid can wait to get omicron booster | C
Covid omicron booster shots should better protect against infection, serious illness | C
U.S. Plans Shift to Annual Covid Shots as New Boosters Roll Out | W
September 06 (Tuesday)
Latest Morning Briefing Executive Summary: Back To The Old Normal?
Fed Chair Powell has put the kibosh on financial markets’ wishful thinking that the Fed will start easing monetary policy next year. How will the Fed—and investors—know when it has achieved optimal tightening, with monetary policy restrictive enough to tame inflation but not enough to touch off a recession? “Immaculate disinflation” has proven elusive in the past, but we think it’s possible today. A federal funds rate of 3.00%-4.00% might be the sweet spot, harkening back to the “Old Normal” before the 2008 financial crisis. … Also: Indicators suggest the broad economy is growing this quarter, though certain sectors aren’t. … And: Dr. Ed reviews “Candy” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 29.
Markets
Stocks Could Have a Messy Fall. Time to Embrace the Risks. | BR
Emerging Market Bonds May Be Buying Opportunity | BR
The digital yuan offers China a way to dodge the dollar | E
U.S. Dollar Strength Lifts Americans’ Relative Spending Power | W
Oil producer group OPEC+ surprises energy markets with a small production cut | C
Gasoline prices are expected to continue to fall after Labor Day and some states could see below $3 | C
Central banks
The Fed Isn’t Moving the Stock Market, or the Price of Credit | FO
US I
The Labor Shortage Will Get Worse and May Last for Decades | BR
UPS, Chipotle, and Other Stocks That Could Thrive as the Labor Shortage Lingers | BR
Yes, the unemployment rate rose. Here's why that's good news | NN
Now Is the Most Rewarding Time to Switch Jobs in Years | W
US II
American states are now Petri dishes of polarization | E
Biden’s Student-Debt-Forgiveness Plan May Cost Up to $1 Trillion, Challenging Deficit Goals| W
Affordable-Housing Projects Derailed as Developers Struggle for Financing | W
Europe
Russia’s Nord Stream Pipeline Closure Lands Economic Blow Against Europe | W
Europe scrambles to protect citizens from sky-high energy prices | E
Macron: France, Germany to provide each other with gas, electricity, to weather crisis | R
Germany keeps two nuclear reactors on standby to weather gas crisis | R
Gazprom: off-line Nord Stream compressor station now deemed hazardous | R
Italy’s election and the war against corruption | E
China
China’s Economic Slump Bodes Ill for Birth Numbers | W
A Slowing China Helps Rein In Inflation Around the World | W
China Blinked on Public-Company Audits. It Won’t Happen Twice. | BR
Industries & companies
Materials: Column: European smelter closures fracture aluminum pricing | R
Retail: Buy Target Stock. The Retailer’s Problems Won’t Last Forever. | BR
Corporate finance
CVS to buy home health giant Signify Health for about $8 billion | C
Volkswagen to List Porsche in One of Biggest IPOs in Years | W
Beyond markets
Can We Save the Planet and Still Eat Meat?
September 03 (Saturday)
Latest Morning Briefing Executive Summary: China, Earnings & FedNow
China’s government is mobilizing to shore up the country’s struggling, debt-laden economy. New initiatives will facilitate home-buying, guarantee the debt of select private developers, make low-interest loans to banks, and provide financial backing for infrastructure projects. More may be needed. … Industry analysts still expect S&P 500 companies to log respectable earnings growth this year and next despite having lowered their sights for many. Jackie examines how and why estimates have been changing for various sectors and industries. … And better late than never: FedNow brings the instantaneous financial transactions that other countries enjoy to the US.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 29.
Markets
Major stock averages slide for third week, Nasdaq posts six-day losing streak | C
Bond Yields Fall on Higher August Unemployment | W
Energy
Russia scraps gas pipeline reopening, stoking European fuel fears | R
Russia to Keep Nord Stream Pipeline Shut, Citing Mechanical Problems | W
Factbox: Europe's alternatives if Russia shuts off gas supply | R
US I
August Jobs Report Shows Labor Market Has Cooled But Remains Solid | W
Wage Gains Ease as More Americans Join the Labor Force | W
The Americans Who Never Went Back to Work After the Pandemic | W
How 'quiet quitting' became the next phase of the Great Resignation | C
More home sellers drop their asking price as the housing market cools | C
Rising Mortgage Rates Complicate Decision on Buying Versus Renting | W
US II
Opinion: This is what will prevent stagflation from hitting the US economy | NN
1970s inflation: Historian Niall Ferguson has a warning for investors | C
Recession or Not, There Will Be Pain | Morningstar
Traveling for Labor Day? Expect Busier Airports, More Traffic Than Last Year | W
China
China’s Economy Won’t Overtake the U.S., Some Now Predict | W
Geopolitics & trade
U.S. approves potential $1.1 billion arms sale to Taiwan amid China tensions | R
Industries & companies
Airlines: Your Flight Is Canceled. See What Each Airline Is Supposed to Offer You. | W
Autos: Ford’s U.S. Sales Rose 27% in August on Strong EV Demand | W
Materials: Column: European smelter closures fracture aluminium pricing | R
Materials: This Remote Mine Could Foretell the Future of America’s Electric Car Industry | N
Utilities: Jackson Water Crisis Forces Cities to Confront Their Own Aging Infrastructure | W
Corporate finance
CVS Is in Advanced Talks to Buy Signify Health for Around $8 Billion | W
Greek yogurt maker Chobani pulls IPO amid listing slowdown | R
Technology
Latest U.S. Chip Curbs Deliver Setback to China’s AI Ambitions | W
Beyond markets
NASA Poised for Second Artemis Launch Attempt Saturday | W
White House Seeks $47.1 Billion to Fight Covid and Monkeypox, Aid Ukraine | W
September 02 (Friday)
Latest Morning Briefing Executive Summary: China, Earnings & FedNow
China’s government is mobilizing to shore up the country’s struggling, debt-laden economy. New initiatives will facilitate home-buying, guarantee the debt of select private developers, make low-interest loans to banks, and provide financial backing for infrastructure projects. More may be needed. … Industry analysts still expect S&P 500 companies to log respectable earnings growth this year and next despite having lowered their sights for many. Jackie examines how and why estimates have been changing for various sectors and industries. … And better late than never: FedNow brings the instantaneous financial transactions that other countries enjoy to the US.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 29.
Markets
Dow, S&P 500 close higher to snap four-day losing streak and begin September | C
S&P 500 snaps four-session losing streak with payrolls on deck | R
Hopes for Fed Pivot Have Faded, Sapping Stocks’ Momentum | W
Man Group Warns of Contagion to European Firms From EM Defaults | B
As the U.S. Dollar Surges, American Buyers Splurge on European Homes | W
Gasoline Prices Extend Declines Into Labor Day Weekend | W
Central banks
US Jobs Data Have Potential to Push Fed Toward Third Jumbo Hike | B
Big Japan Short Redux Outside Tokyo Even as Locals Bet on BOJ | B
New Dallas Fed Chief Puts Inflation Fight on Front Burner | W
US
U.S. Jobless Claims Fall to Lowest Level in Two Months | W
Independent Voters Now Tilting Toward Democrats in Midterm Elections, WSJ Poll Finds | W
Mortgage Rates Rise to 5.66% | W
China
Chengdu locks down 21.2 million people as Chinese cities battle Covid-19 | C
In China, Some Cities Edge Into Covid-19 Lockdowns Ahead of Party Congress | W
Chinese Property Giants See Fortunes Diverge During Housing Crisis | B
Tech Companies Slowly Shift Production Away From China | N
Japan
Steel Price Hikes to Impact Japan’s Manufacturers as Costs Surge | B
Geopolitics & trade
U.N. says China may have committed crimes against humanity in Xinjiang | R
Xinjiang Rights Report Ratchets Up Standoff Between the U.S. and China | W
Ukraine Says Russia Is Using Cargo Ships to Ferry Weapons to the Black Sea | W
IAEA experts 'not going anywhere' after reaching Ukraine nuclear plant | R
Nvidia says U.S. government allows A.I. chip development in China | C
Industries & companies
Airlines: Service Is Slow. Luggage Is AWOL. Companies Struggle With an Influx of New Hires. | W
Autos: GM’s Driverless-Car Unit Recalls Software Used in Some Robotaxis | W
Energy: Amazon took solar rooftops offline last year after fires, explosions | C
Materials: Aluminum Buyer Novelis Excludes Russian Metal in Key Supply Deal | B
Materials: Column: European smelter closures fracture aluminium pricing | R
Media: GameStop meme stock movie 'Dumb Money' in the works with Seth Rogen, Pete Davidson | C
Corporate finance
Exxon, Shell sell California oil assets for $4 billion to IKAV | R
Beyond markets
CDC Panel Backs Moderna (MRNA), Pfizer (PFE) Covid Omicron Vaccine Boosters | B
Covid Boosters Targeting Omicron Backed by CDC Advisers | W
Reading and Math Scores Plummeted During Pandemic, New Data Show | W
September 01 (Thursday)
Latest Morning Briefing Executive Summary: China, Earnings & FedNow
China’s government is mobilizing to shore up the country’s struggling, debt-laden economy. New initiatives will facilitate home-buying, guarantee the debt of select private developers, make low-interest loans to banks, and provide financial backing for infrastructure projects. More may be needed. … Industry analysts still expect S&P 500 companies to log respectable earnings growth this year and next despite having lowered their sights for many. Jackie examines how and why estimates have been changing for various sectors and industries. … And better late than never: FedNow brings the instantaneous financial transactions that other countries enjoy to the US.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 29.
Markets
Dow, S&P 500 fall for a fourth day, major averages end August with losses | C
Famed Investor Jeremy Grantham Warns of Super Bubble in Stocks as Rally Falters | B
Central banks
Fed’s instant payment service ‘FedNow’ set to launch by July 2023 | yahoo.com
Energy
Russia deepens Europe's energy squeeze with new gas halt | R
US
California Dreamin’ —A No-Choice Nightmare That Benefits China | The Heritage Foundation
IRS is not hiring an 'army' of auditors, what's really happening | C
U.S. Justice Dept says Trump team may have moved classified papers amid probe | R
Emerging
China’s dim prospects turn disastrous | The Hill (ampproject.org)
China’s Economic Woes Drag On With Factory Disruptions, Property Slump | W
China’s heat wave is creating havoc for electric vehicle drivers | MIT Technology Review
India’s GDP Jumps as Consumer Spending Revives, Covid Fears Ebb | W
Industries & companies
Media: Disney Explores Membership Program Like Amazon Prime to Offer Discounts and Perks | W
Retail: Walmart-owned Sam's Club raises annual membership fee for first time in 9 years | C
Restaurants: Starbucks Is Rethinking Almost Everything, Including How to Make Frappuccinos | W
Technology
NASA orders five more astronaut missions from Musk's SpaceX in $1.4 billion deal | R
Beyond markets
U.S. FDA green lights Omicron-targeted COVID boosters ahead of revaccination campaign | R
Anthony Fauci Warns of a Bad Flu Season Brewing as He Nears Office Exit | B
August 31 (Wednesday)
Latest Morning Briefing Executive Summary: Earnings Matter
Will the rolling recession—which we believe is occurring now in the US economy—steamroll corporate earnings growth? Our economic outlook suggests that earnings growth could turn negative, but not by much and not for long. … We think August’s M-PMI will be telling, suggesting that both this index and S&P 500 earnings growth are getting closer to bottoming. … And: Melissa looks under the hood of the auto manufacturing industry, still challenged globally by parts-supply problems and still short on inventory. … Also: A look at various factors driving rising EV sales.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 29.
Markets
Column: RIP Great Moderation, hello Great Volatility | R
Column: Diverging U.S. corn and soybean yields would be a rare outcome | R
Central banks
Powell Abandons Soft Landing Goal as He Seeks ‘Growth Recession’ | B
Fed's Mester sees benchmark rate above 4% and no cuts at least through 2023 | C
Fed’s John Williams Says Rates Will Stay High for a While | W
Fed Gets New Path to Go Big as Job Openings, Confidence Surprise | B
Federal Reserve Quantitative Tightening Fallout Should Be Limited | B
Energy
Russia temporarily halts gas flows to Europe via Nord Stream 1 | C
Russia deepens Europe's energy squeeze with new gas halt | R
Analysis: Full gas storage no fix for Europe's winter energy crunch | R
Japan’s Kishida Says He Wants to Reduce Reliance on Nuclear Power as Much as Possible | W
Column: Saudi jawboning up crude oil prices contrasts with soft physical market | R
US
U.S. Job Openings Rose in July as Hiring Accelerated | W
Home-Price Growth Decelerated in June | W
Mortgage demand falls even further, as rates shoot back up to July highs | C
US Life Expectancy Falls as Covid Takes Their Toll on The Population | B
Women Not Having Kids Get Richer Than Men | B
Trump Mar-a-Lago raid: DOJ opposes special master request | C
Europe
Euro zone inflation hits another record of 9.1% as food and energy prices soar | C
Inflation Tops 9% in Eurozone, Piling Pressure on Policy Makers | W
China
China is set to convene a historic meeting on Oct. 16. Here's what to expect | C
China's True Elite
Geopolitics & trade
Biden Still Undecided on Chinese Tariffs, Commerce Secretary Says | W
Industries & companies
Communications services: Social-Media Firms Would Have to Consider Children’s Health Under Bill Passed by California Legislature | W
Corporate finance I
Bosch $200 million investment fuel cells South Carolina | C
Toyota says it will invest extra $2.5 billion in North Carolina plant | C
Toyota to Put Additional Billions of Dollars Into EV Batteries | W
Corporate finance II
Bed Bath & Beyond announces store closures, layoffs and new financing in push to fix struggling business | C
Buyback Tax Will Distort Capital Markets & Hurt Smaller Companies | NR
Technology
Autonomous delivery company Gatik wins new pilot program with Pitney Bowes in Dallas | C
Beyond markets
NASA to Try Artemis I Moon Launch Again on Saturday | W
Ukraine’s Overstretched Psychiatric Hospitals Face Wave of Traumatized Soldiers | W
August 30 (Tuesday)
Latest Morning Briefing Executive Summary: Anatomy Of A Rolling Recession
In an eight-minute talk at Jackson Hole last week, the Fed chair squawked like a true hawk and obliterated $1.2 trillion in S&P 500 market capitalization. He said bringing inflation down will be painful. He didn’t say how painful. … We don’t see an “official” recession, but a “growth recession” that rolls through economic sectors in succession while still allowing real GDP to grow overall, albeit slowly. … In fact, such a rolling recession is likely underway already. We look at how vulnerable areas of the economy are holding up.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 29.
Markets
Dow closes 100 points lower as sell-off continues, Treasury yields surge | C
Stocks End Lower, Yields Rise After Powell’s Hawkish Remarks | W
Panic Button Is Nowhere in Sight as Memory of 7th S&P 500 Market Rout Fades | B
Central banks
Fed’s QT to Hit ‘Full Stride’ With Central Bank Shrinking $9 Trillion Portfolio | B
At Jackson Hole, World’s Central Bankers Gauge Economic Risks in Covid’s Wake | W
Fed’s instant payment service ‘FedNow’ set to launch by July 2023 | yahoo
White House Gives Fed Leeway on Interest Rates After Warren Critique | B
US
64% of consumers worry about shrinkflation. Here's what to watch for | C
Fannie Mae says fixed mortgage rates could fall to 4.5% next year | C
These Are the Most Expensive US Cities for Renters in August | B
Fewer Americans live paycheck to paycheck as inflation starts to ease | C
Hunter Biden, Border Crossings and Covid Policies Face New Scrutiny if GOP Wins House | W
Trump's home search unearths material possibly covered by attorney-client privilege, prosecutors say | R
China
'It felt like my insides were crying': China COVID curbs hit youth mental health | R
Geopolitics & trade
Ukraine War Is Depleting U.S. Ammunition Stockpiles, Sparking Pentagon Concern | W
Russia Confounds the West by Recapturing Its Oil Riches | W
Industries & companies
Autos: Honda, LG Energy Solution to build $4.4 billion battery plant in U.S. | C
Autos: How Amazon is giving Rivian an edge in the EV industry | C
Autos: China’s heat wave is creating havoc for electric vehicle drivers | MIT
Climate
Greenland ice loss will raise sea levels by nearly one foot: study | C
Beyond markets
Biden administration to stop sending free at-home Covid-19 tests Friday | C
NASA’s Artemis Launch Postponed After Engine Procedure Fails on Moon Rocket | W
Why Some Americans Are Still Isolating From Covid-19 | W
August 29 (Monday)
Latest Morning Briefing Executive Summary: Powell’s Latest Pivot Won’t Be His Last
Keeping track of whether Fed Chair Powell is dovish or hawkish is making us dizzy. His latest clues—dropped at last week’s Jackson Hole conference—reversed the dovish impression he’d left in July that caused stocks to rally. So stocks pivoted southward last week. … We anticipate Powell’s next pivot and potentially encouraging inflation news. … Might BEA’s upcoming H1 GDP revisions reveal that the economy grew after all, making the “technical recession” illusory? We wouldn’t be surprised. We project 1.5% GDP growth during H2 and 2.5% next year. … Also: Q2 data on S&P 500 revenues and profits show new record highs for both. … And: Dr. Ed reviews “Blackbird.”
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 22.
Markets
Stocks jilted as central banks promise tough love | R
Investors Ramp Up Bets Against Stock Market as Summer Rally Fizzles | W
Dollar gains as investors brace for higher rates | R
Oil mixed as OPEC supply cut prospect offsets demand fears | R
Central banks
Powell Says Fed Must Show Resolve in Fighting Inflation | W
Powell warns of 'some pain' ahead as Fed fights to lower inflation | C
US
A Different Take on the U.S. Economy: Maybe It Isn’t Really Shrinking | W
Want a Lower Mortgage Rate? Take Someone Else’s Loan | W
American cities want rent control to rein in housing costs | E
Everyone’s a Landlord—Small-Time Investors Snap Up Out-of-State Properties | W
The rent crisis on Main Street just took a turn for the worse | C
High Grocery Bills Pose Liability for Democrats as Midterms Approach | W
Europe
This Income-Focused Money Manager Sees Bargains in Europe. ‘Mass Fear Is an Opportunity.’ | BR
China
How China should handle its bad loans to poor countries | E
Faced with an overseas debt crisis, will China change its ways? | E
Geopolitics & trade
What is at stake at Ukraine’s Zaporizhia nuclear plant | E
Are sanctions on Russia working? | E
Industries & companies
Aerospace: NASA’s Artemis Launch Gives Boeing Chance to Restore Its Space Credibility | W
Airlines: Airlines Keep Flight Cuts, Other Curbs as Industry Woes Drag On | W
Autos: EV makers face cash squeeze amid soaring battery, production costs | C
Materials: Alcoa Has a Plan for Zero Emissions. Buy the Stock While It’s a Bargain. | BR
Retail: Inventory Pileup, Uneasy Shoppers Put Retailers in Jeopardy | W
Climate
Beyond Drought: The Coming Water Shortage Is a Threat From Main Street to Wall Street | BR
Beyond markets
NASA's Artemis 1 mission: What you should know about SLS, Orion | C
Why has polio returned to London and New York? | E
August 27 (Saturday)
Latest Morning Briefing Executive Summary: Industrials, Russia & Robots
A heat wave and drought are prompting China to close some industrial plants in hard hit regions to preserve electricity for air conditioning. In Europe, some industrial plant owners are closing shop because surging electricity prices are battering the bottom line. Look for supply chain problems to ensue. The Eurozone’s August PMI took a hit. … A study out of Yale University contends Western sanctions are taking a large toll on Russia’s economy. We take a look. … North American companies bought more robots in Q1 than ever before. Here are some new ways robots are making companies more efficient today and a peek at what scientists are working on for the future. Pizza anyone?
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 22.
Markets
Dow Falls More Than 1,000 Points After Powell Speech | W
Wall Street ends in a hole after Powell's Wyoming speech | R
Stock Bulls’ Swagger Gets Deflated as Powell Delivers a Warning | B
Bond Yields Inch Higher After Powell Says Fed Will Hold the Line on Inflation | W
U.S. bonds: U.S. Treasury yields are higher after Powell speech | C
Global
World Economy Needs Policy Reset to Revitalize Growth, BIS Says | B
Central banks I
Powell warns of 'some pain' ahead as Fed fights to lower inflation | C
Powell Says Fed Must Show Resolve in Fighting Inflation | W
Powell’s New Guidance: Higher Rates for Longer to Beat US Inflation | B
Powell's Jackson Hole Speech Erases $78 Billion From Richest Americans' Fortunes | B
Fed Officials Welcome July Inflation Data, But Not Ready to Say Prices Have Peaked | W
Column: A crisis too far? Central bank safety net compromised :Mike Dolan | R
Central banks II
ECB Lacking Consensus for Jumbo Rate Hike Some Officials Want | B
Some ECB Officials Want Quantitative-Tightening Talks in 2022 | B
ECB’s Knot Says Up to Three-Quarter-Point Hike Needed Next Month | B
Can Central Banks Maintain Their Autonomy? | W
US
U.S. Consumer Spending Inched Forward in July, With Inflation Historically High | W
Inflation Eased in July, According to the Fed’s Preferred Measure | W
Brookings: Long Covid keeps millions of Americans out of workforce | C
Biden Describes Trump’s Governing Philosophy as ‘Like Semi-Fascism’ | W
New York Fuel Supply Is So Low It Triggered White House Warning | B
China
China’s Scorching Heat and Hydropower Missteps Test Nation’s Power Grid | W
Industries & companies
Consumer: There’s a Carbon Dioxide Shortage, and Food and Drink Makers are Scrambling | W
Energy: EXCLUSIVE Exxon to sell Arkansas shale gas assets to Flywheel Energy | R
Pharma: Moderna Sues Pfizer and BioNTech, Alleging mRNA Patent Infringement | W
Geopolitics & trade
U.S. and China Reach Agreement on Chinese Company Audits | W
Zelenskiy says danger remains after nuclear plant resumes power supply | R
U.N. Set to Inspect Ukraine Nuclear Plant Early Next Week | W
Beyond markets
Monkeypox: CDC cautiously optimistic outbreak might be slowing | C
August 26 (Friday)
Latest Morning Briefing Executive Summary: Industrials, Russia & Robots
A heat wave and drought are prompting China to close some industrial plants in hard hit regions to preserve electricity for air conditioning. In Europe, some industrial plant owners are closing shop because surging electricity prices are battering the bottom line. Look for supply chain problems to ensue. The Eurozone’s August PMI took a hit. … A study out of Yale University contends Western sanctions are taking a large toll on Russia’s economy. We take a look. … North American companies bought more robots in Q1 than ever before. Here are some new ways robots are making companies more efficient today and a peek at what scientists are working on for the future. Pizza anyone?
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 22.
Markets
Dow closes 300 points higher, extends rally to second day ahead of Powell's Jackson Hole speech | C
China Economic Stimulus Lifts Mood Ahead of Powell Speech: Markets Wrap | B
Treasury Yields Rise on Bet That Recovery Will Last Longer | W
Central banks
Fed Policy Revamp Turns Two in Jackson Hole. It’s Not Aged Well | B
Fed’s Esther George Says It Has to Get Interest Rates Higher to Slow Down Demand | B
Fed Can’t Blink After Being ‘Asleep at the Wheel,’ El-Erian Says | B
Powell isn't likely to tell investors what they want to hear Friday | C
US I
U.S. GDP Fell Less Than Previously Thought in Second Quarter | W
US Corporate Profits Soar With Margins at Widest Since 1950 | B
US Jobless Claims August 2022: Fall for Second Week in Sign of Labor Strength | B
US economy may have actually grown in the first half of 2022 | Quartz
US II
US Mortgage Rates Soar to 5.55%, Renewing Squeeze on Homebuyers | B
Mortgage Rates Rise to Two-Month High at 5.55% | W
Teacher Shortage 2022: Why US Schools Flush With Cash Can't Keep Up | B
Biden Student-Loan Forgiveness Raises Inflation, Budget Risks | W
China
China’s New Economic Efforts Fall Short, Economists Say | W
Geopolitics & trade
U.S., China Near Deal to Allow Audit Inspection of N.Y.-Listed Chinese Companies | W
Taiwan Proposes Big Jump in Military Spending Amid Chinese Pressure | W
Power Outage in Southern Ukraine Raises Tensions Over Zaporizhzhia Nuclear Plant | W
Industries & companies
Retail: How Whole Foods has changed in the five years since Amazon took over | C
Climate
California bans the sale of new gas-powered cars by 2035 | C
France Considers Taxing Private Jet Use in Fight Against Climate Change | W
Amazon strikes green hydrogen deal with fuel cell maker Plug Power | C
Beyond markets
Baby Formula Shortage: A Deadly Bacteria and Abbott’s (ABT) Missteps | B
August 25 (Thursday)
Latest Morning Briefing Executive Summary: Industrials, Russia & Robots
A heat wave and drought are prompting China to close some industrial plants in hard hit regions to preserve electricity for air conditioning. In Europe, some industrial plant owners are closing shop because surging electricity prices are battering the bottom line. Look for supply chain problems to ensue. The Eurozone’s August PMI took a hit. … A study out of Yale University contends Western sanctions are taking a large toll on Russia’s economy. We take a look. … North American companies bought more robots in Q1 than ever before. Here are some new ways robots are making companies more efficient today and a peek at what scientists are working on for the future. Pizza anyone?
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 22.
Markets
Invesco Sees ‘Rude Awakening’ With Oil, Food Set to Spike Soon | B
Dollar eases from near two-decade peak as Jackson Hole looms | R
Column: Dollar's historic surge may be music to Fed's ears: McGeever | R
Oil prices rise on possible OPEC supply cuts | R
Central banks
Jackson Hole: Lockstep Markets Primed for All-or-Nothing Sweepstakes on Powell | B
Jerome Powell’s Dilemma: What if the Drivers of Inflation Are Here to Stay? | W
Morgan Stanley’s Wilson and JPMorgan’s Michele Warn About QT | B
US
Biden’s Student Loan Forgiveness Plan to Cancel Up to $20,000 in Debt for Millions | W
Will Biden's Student Loan Relief Add to Inflation? Here's What Economists Say | B
The Surprise in a Faltering Economy: Laid-Off Workers Quickly Find Jobs | W
'Ghost gun' regulations go into effect after judges reject challenges | C
China
China Rolls Out Aid to Help Power Firms and Save Rice Harvest | W
U.S. Entertainment Industry Hits Wall in China | W
Europe
Italy Elections: Mario Draghi Warns Next Leader Not to Play With Protectionism | B
Industries & companies
Wireless: Phone Companies Want to Be Your Home-Internet Provider—and Vice Versa | W
Climate
Inflation Reduction Act’s Real Climate Impact Is a Decade Away | W
Arizona Needs to Cut 300,000 Olympic Pools’ Worth of Water. Here Is Who Will Be Hit the Hardest. | W
August 24 (Wednesday)
Latest Morning Briefing Executive Summary: Will Inflation Persist?
If inflation is peaking, definitive proof could make all the difference to the near-term direction of the stock market. It could also affect how hard the Fed pumps the monetary brakes and what that does to the economy. Our happy outlook features inflation peaking, tightening ending sooner rather than later, and the economy slowly growing. … Recent data releases provide peeks into upcoming inflation readings—and some signs that it is peaking. … Biden’s Inflation Reduction Act seems almost satirically named: The Act is more about climate than inflation, think-tanks say it will hardly move the inflation needle, and Melissa found several aspects to be downright inflationary.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 22.
Markets
Stocks End Slightly Lower Amid Rate Uncertainty | W
S&P 500 seen a little higher by end of 2022 -strategists | R
China’s Yuan Slides to Two-Year Low as Economy Stumbles, Dollar Soars | W
Central banks
Fed's Kashkari says his biggest fear is inflation will be more persistent | R
Global
Global Economies Flash Warning of Sharp Slowdown | W
Energy
Can’t Pay Utility Bills? 20 Million US Homes Behind on Payments, Facing Shutoffs | B
Endless Demand Spurs U.S. Natural-Gas Prices to Shale-Era Highs | W
How Much Is Power in Europe? It’s Now Equal to Oil at $1,000 a Barrel | B
US
What a housing recession means for homeowners, buyers, sellers | C
Biden's decision on student loan forgiveness could come tomorrow | C
Judge orders Trump to give details about Mar-a-Lago warrant lawsuit | C
China
Column: China's weak crude imports and pariah purchases ease global market | R
China Reopens to Foreign Students For First Time After Covid Outbreak | B
Geopolitics & trade
After Six Months of War in Ukraine, Momentum Tilts Against Russia | W
Industries & companies
Airlines: Thousands of Flights Canceled, Delayed as Bad Weather Disrupts Air Travel | W
Consumer: Amazon seller Packable lays off employees, begins liquidating | C
Tech: Apple to Cut New iPhone 14 Production Lag Between India and China | W
Corporate finance
Intel, Brookfield Sign $30 Billion Deal to Finance Chip Factories | W
Beyond markets
The 30-Year-Old Spending $1 Billion to Save Crypto | W
Moderna Asks FDA to OK Updated Covid-19 Shot | W
August 23 (Tuesday)
Latest Morning Briefing Executive Summary: Raging Debate
Today, we examine stock market sentiment—where it’s been this year and why, as well as where it might be headed. … The bulls had a good two-month run, for a host of reasons we discuss, but it might be ending as they go on the defensive for a while for a host of other reasons. … And: QE lifted the Fed’s securities holdings and the stock market followed suit during the bull market years. But does that necessarily mean the opposite will happen when QT starts to unwind those holdings in September? The bears think so, but we see reasons to differ.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 22.
Markets
Dow falls 600 points, heads for worst day since June as the market's summer rally flails | C
Wall Street tumbles on fears of aggressive Fed | R
US
U.S. business borrowing for equipment rises 2% in July - ELFA | R
US Housing Market: Jump in New Apartment Construction May Ease Pressure on Rents | B
Cheap Homes? House Prices Are Being Slashed In Former Pandemic Boomtowns | B
Companies Are Cutting Back on Maternity and Paternity Leave | W
Trump PAC paid lawyers almost $1 million amid Georgia, New York probes | C
Europe
Europe braces for more cuts in Russian oil and gas exports | R
Geopolitics & trade
Crimea, Once a Bastion of Russian Power, Now Reveals Its Weakness | W
Industries & companies
Autos: Ford Stock Falls After $1.7 Billion Verdict in Fatal Rollover Case | W
Autos: Ford to eliminate 3,000 jobs in an effort to cut costs | C
Communications services: Should we break up Facebook to save it? | The Hill
Tech: Apple self repair service expands to MacBooks starting Tuesday | C
Corporate finance
Where have the unicorns gone? The IPO window has slammed shut | NN
IPO Market Faces Worst Year in Two Decades. ‘Really Hard Pill to Swallow.’ | W
Pandemic
Fauci, face of U.S. COVID response, to step down from government posts | R
Pfizer asks FDA to authorize Covid booster shots that target omicron BA.5 for people ages 12 and older | C
Polio Vaccines Are Urged in New York as Once-Defeated Virus Lurks | W
Beyond markets
Why Tom Brady and other stale celebs keep pretending to retire | P
August 22 (Monday)
Latest Morning Briefing Executive Summary: Searching For Godot
The economic slowdown so far this year is not the game-changing “official” recession so widely feared. Waiting and waiting for this Godot of a recession is muting economic activity, but also inhibiting excesses. That’s why we expect any recession that does show up—a scenario we give 35% odds—to be mild and roll through the economy gradually by sector. We see a slow-growth scenario as the most likely outlook (60% odds) and an inflationary boom the least (5%). … Also: We turn our spotlight on what a rolling recession might look like and how September might treat the stock market.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 15.
Markets
Stocks Are No Longer a Sure Thing. Where to Invest Now. | BR
The February Effect: Dividend Hikes Spike in the Shortest Month | BR
How an Emerging Market Stock Fund Stays on Top, With Less Risk | BR
Central banks
Shrinking Deficits Cushion Fed’s Retreat From Markets | W
Chinese Banks Cut Rates to Spur Economic Growth | W
China trims lending rates one week after surprise cuts in key rates | C
Energy
European gas prices surge as Russia announces Nord Stream 1 shutdown | C
Europe’s Natural-Gas Crunch Sparks Global Battle for Tankers | W
Energy Projects Sought Across the U.S. Face Local Hurdles | W
US I
Recession Is Already Here for Many Small Businesses | BR
Your Steak Is Getting Cheaper at the Supermarket | W
Americans are concerned student loan forgiveness will worsen inflation | C
US II
Will Donald Trump run again? | E
Donald Trump’s hold on the Republican Party is unquestionable | E
Merrick Garland is not naive about political violence | E
Ex-White House Aide Kash Patel Presses View Trump Broadly Declassified Documents | W
More IRS Audits Are on the Way for Taxpayers. How to Respond if You're Targeted. | BR
China
China’s economy is beset by problems | E
China's Alibaba and Tencent focus on cost cuts amid slowing growth | C
How China's Covid policies lead to hampered supply chains, higher inflation | C
Mao-loving websites are in a grey zone between propaganda and dissent | E
Japan
Prices are rising in Japan, but not wages | E
Industries & companies
Autos: Elon Musk says Tesla will raise price of FSD by 25% in September | C
Financials: PNC Financial Services Has Big Ambitions—and a 3.4% Dividend Yield | BR
Media: AMC shares tank more than 30% as Regal Cinemas owner warns of potential bankruptcy | C
Logistics: Railroad Regulator Turns Up Heat on Industry to Fix Shipping Delays | W
Manufacturing: Pandemic Bolsters China’s Position as the World’s Manufacturer | W
Geopolitics & trade
Korea and U.S. begin largest military drills amid N. Korea backlash | C
Russia launches murder investigation after car bomb kills daughter of key Putin ally | C
Ukraine’s Zelensky Warns Against Trial of Prisoners Captured at Azovstal Steel Plant | W
Climate
Droughts Hurt World’s Largest Economies | W
Bill Gates Is Ecolab’s Largest Shareholder. He Just Scooped Up More Shares. | BR
August 20 (Saturday)
Latest Morning Briefing Executive Summary: Consumers, Russia & The Metaverse
With gasoline prices down in July, consumers had more money to spend on discretionary purchases, and retailers of most kinds benefited. Jackie taps Target’s Q2 results for consumer-spending trends and takeaways . … Also: Waging war in Ukraine has cost the Russian economy a great deal, but Q2 GDP contracted much less than economists expected, buoyed by the high prices that Russia’s energy exports fetched. … And: The Metaverse is hopping with diverse events—from concerts and celebrity-hosted parties to fashion shows and fine art sales. And everyone’s invited.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 15.
Markets
Stocks Slide as Short-Sellers Cash In on Fedspeak: Markets Wrap | B
Column: Stocks rebound shows the devil in the retail | R
US I
If the Economy Is Shrinking, Why Is Everything Going Gangbusters? | B
'The Godfather' Insight: Oil Prices Have Been Driving Markets All Along | B
Jobless Rate Drops to or Below 3% in Almost Half of US States | B
America's small businesses are running out of workers | NN
What Is Quiet Quitting? Is It a Good Idea? Pros and Cons of Latest TikTok Trend | B
US II
Inflation peaking? 10 common consumer items where prices are falling | C
Gen Xers are cutting spending, continue to save for retirement, study says | C
Can't Afford Rent? College Students Tap Parents, Buy RVs for Housing | B
Opinion | California Needs More Housing. Unions Might Stand in the Way. | N
US III
U.S. Treasury disputes finding that new IRS funding would increase middle-class taxes | R
Five ways the Inflation Reduction Act will reduce business owners’ taxes | The Hill
Geopolitics & trade
Russia to Halt Nord Stream Gas Flows to Europe, Citing Pipeline Maintenance | W
Ukraine’s Southern Forces Wage a Slow Campaign to Wear the Russians Down | W
China’s Xi Considers Visiting Central Asia, Potential Meeting With Putin Next Month | W
Industries & companies
Materials: Column: Power is the big new problem for industrial metals supply | R
Media: Regal Owner Cineworld Nears Bankruptcy as Theater Comeback Lags | W
Beyond markets
Northern Lights Will Be Visible in Parts of Mainland U.S. This Week | W
Monkeypox Virus Can Stay on Common Household Items, Surfaces, CDC Says | B
It Now Costs $300,000 to Raise a Child | W
August 19 (Friday)
Latest Morning Briefing Executive Summary: Consumers, Russia & The Metaverse
With gasoline prices down in July, consumers had more money to spend on discretionary purchases, and retailers of most kinds benefited. Jackie taps Target’s Q2 results for consumer-spending trends and takeaways . … Also: Waging war in Ukraine has cost the Russian economy a great deal, but Q2 GDP contracted much less than economists expected, buoyed by the high prices that Russia’s energy exports fetched. … And: The Metaverse is hopping with diverse events—from concerts and celebrity-hosted parties to fashion shows and fine art sales. And everyone’s invited.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 15.
Markets
Wall Street Bets the Fed Is Bluffing in High-Stakes Inflation Game | W
Shares choppy, U.S. yields fall as investors digest Fed minutes | R
Central banks
Fed’s Bullard Leans Toward Favoring 0.75-Percentage-Point September Rate Rise | W
US
U.S. Home Sales Dropped in July for Sixth Straight Month | W
Home sales fell nearly 6% in July as housing market slides into a recession | C
Why the Rent Inflation Is So Darn High | MSN
Jobless claims edge lower as Fed looks to cool labor market | C
Judge Says He Will Unseal Parts of Affidavit That Led to Search of Trump’s Mar-a-Lago | W
China
China’s Scorching Heat Leads to Power Cuts, Factory Disruptions | W
Geopolitics & trade
China, U.S. Trade Climate Barbs as Ties Fray | W
North Korea Resumes Weapons Activity With Two Cruise-Missile Launches | W
Industries & companies
Financials: Bank Stocks Make a Comeback | W
Media: Americans Spent More Time Streaming Than Watching Cable TV in July—a First | W
Retail: Home Depot and Lowe's cite strong demand, but softening could be ahead | C
August 18 (Thursday)
Latest Morning Briefing Executive Summary: Consumers, Russia & The Metaverse
With gasoline prices down in July, consumers had more money to spend on discretionary purchases, and retailers of most kinds benefited. Jackie taps Target’s Q2 results for consumer-spending trends and takeaways . … Also: Waging war in Ukraine has cost the Russian economy a great deal, but Q2 GDP contracted much less than economists expected, buoyed by the high prices that Russia’s energy exports fetched. … And: The Metaverse is hopping with diverse events—from concerts and celebrity-hosted parties to fashion shows and fine art sales. And everyone’s invited.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 15.
Markets
Stocks End Lower After Fed Minutes, More Earnings | W
Oil prices ease as Russia output increases | R
Column: 'Peak inflation' ambiguous for dollar | R
Central banks
Fed Officials See Need for Continued Interest-Rate Increases, but Less Certainty Over Destination | W
Fed Minutes July 2022 FOMC Meeting: Smaller Hikes Ahead to Assess Past Moves | B
US
U.S. Retail Spending Held Steady in July | W
The Inflation Reduction Act does more than clean energy and EV tax credits | Vox
Inflation Reduction Act Shows Far Left’s Extremism and Elitism | The Heritage Foundation
Not one Republican stood up for climate, jobs or lower costs | The Hill
Biden's IRS Army will declare war on political enemies | P
Biden Labor Department Seeks to Redefine Independent Contractors | CJ
Industries & companies
Manufacturing: Makers of Heating, Cooling Systems Expect Climate Bill to Boost Sales | W
Geopolitics & trade
US and Taiwan Begin Formal Negotiations on Trade Initiative | B
China to Join Russia Military Exercises as U.S. Rivals Deepen Ties | W
Climate
Feds call for water cutbacks as Colorado River is in 23-year drought | C
Beyond markets
Covid’s Harmful Effects on the Brain Reverberate Years Later | B
U.S. CDC plans to focus on public health response after pandemic failings | R
August 17 (Wednesday)
Latest Morning Briefing Executive Summary: More On The Bulls Vs Bears Debate
Is the stock market rally since June 16 a rally within the bear market or the start of a new bull market? The answer hinges on the economic outlook. We’re in the bull camp, believing that inflation is peaking, Fed tightening is nearly over, and a recession won’t result; bears may believe the opposite. … Analysts have been cutting their estimates for earnings but not revenues, so expected profit margins have been falling. That suggests they see no recession, just more difficulty passing fast-rising costs on to customers. … Also: Peeks at the MegaCap-8’s rally impacts on the S&P 500, Senator Schumer’s wrong-headed anti-buyback stance, and alternative measures of inflation.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 15.
Markets
Dow closes 200 points higher on Tuesday for fifth day of gains, buoyed by Walmart and Home Depot | C
Stocks End Mostly Higher With Retail Earnings in Focus | W
Five Not-Quite-Impossible Things the Market Believes | W
As Oil Falls Below $90, Where Do Prices Go From Here? | N
Flush With Oil Profits, Saudi Arabia Pours $7.5 Billion Into U.S. Stocks From Amazon to Microsoft | W
Central banks
Fed Warns Banks Jumping Into Crypto to Do Legal Homework First | B
US politics
US Inflation Reduction Act Is a Climate Bill by Another Name | B
Bill Gates, Joe Manchin, and How Biden's Inflation Reduction Act Almost Failed | B
Biden signs inflation act, hands pen to Manchin | R
Biden Signs $437B Tax-Climate Law In Win for Democrats Ahead of Midterms | B
Biden signs Inflation Reduction Act into law, setting 15% minimum corporate tax rate | C
Inflation Reduction Act to cap costs for Medicare patients on insulin | C
Five Things That Biden’s Climate Bill Will Change for Automakers | B
US
Homebuyers are backing out of more deals as recession fears linger | C
Home Building Fell Sharply in July as Costs Increased | W
Consumers Pay More for Less, Boosting Walmart and Home Depot | W
If the Job Market Is So Good, Why Is Gig Work Thriving? | N
Opinion | Gen X Is Kind of, Sort of, Not Really the Boss | N
Schools Are Looking in Unusual Places to Deal With Teacher Shortage | W
States Expand Sales-Tax Holidays as Americans Feel Price Increases | W
Europe
Heat Wave Intensifies Energy Crisis in Europe | W
Germany to Keep Last Three Nuclear-Power Plants Running in Policy U-Turn | W
Geopolitics & trade
U.S. Approves Nearly All Tech Exports to China, Data Shows | W
Industries & companies
Airlines: American Airlines agrees to purchase 20 supersonic jets - CNN
Retail: Walmart.com drew higher-income shoppers looking to buy food | R
Tech: Cloud hangs over U.S. chipmakers on worries data center growth could slow | R
Tech: Apple and Meta headsets could face a big challenge: Sticker shock | C
Corporate finance
Why the 1 Percent Buyback Tax Doesn’t Scare Investors | N
Beyond markets
WHO vows nothing 'ridiculous' as public submits ideas to rename monkeypox | R
Polio circulating locally in NYC area, poses risk to unvaccinated, CDC says | C
August 16 (Tuesday)
Latest Morning Briefing Executive Summary: Why Are Oil Prices Falling?
Wondering what brought the price of gasoline and other petroleum products back down toward earth in recent weeks? Our data show it’s not Biden’s release of crude oil reserves but the effects of previously soaring prices—which depressed demand and sparked production—combined with China’s economic slowdown. … Speaking of which: Just when we thought the much-anticipated recession would be a no-show like Godot, he was spotted in China and maybe New York too. Might the US be in for a “rolling recession” à la the 1980s?
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 15.
Markets
Stocks Extend Winning Streak | W
Wall Street climbs, adding to recent gains as megacaps rise | R
Investors Are Betting Yet Again That Inflation Will Cool | W
Gold Holds Decline as Dollar Reigns Amid Concerns Over Slowdown | B
Central banks
Federal Reserve Can Fight Recession With Lessons from Its Past | B
Goldman sees a 'feasible but difficult path' for the Fed to defeat inflation without a recession | C
Federal Reserve Finalizes Guidelines for Access to Its Payment Systems | W
US
U.S. is in housing recession, homebuilders say | C
Stores, suppliers fight over price hikes as inflation squeezes shoppers | C
Biden's created our bad new normal, and he's loving it | P
What Democrats' call for Social Security reform means for benefits | C
China
China’s Growth Slowed Across All Fronts in July, Prompting Unexpected Rate Cut | W
China Needs More Stimulus to Boost Economy, PBOC Paper Says | B
China pares back holdings of U.S. Treasuries for 7th month | R
Geopolitics & trade
Ukraine calls on world to 'show strength' after shelling near nuclear plant | R
What a Chinese Blockade of Taiwan Would Mean for Global Business | W
China Restarts Military Drills in Response to Latest U.S. Lawmakers’ Visit to Taiwan | W
NYSE delistings signal Beijing may be willing to compromise on U.S. audit dispute -analysts | R
Industries & companies
Airlines: This is a great time to be an airline. It's the worst time to be a passenger | NN
Airlines: Why Is Airline Travel So Miserable? Blame Florida | W
Autos: SoftBank-backed Ola Electric wants to launch India-built EV in 2024 | C
Pharma: Newly-launched U.S. drugs head toward record-high prices in 2022 | R
Retail: Walmart enters streaming deal with Paramount+ in race with Amazon | R
Tech: Apple tells employees to come in 3 times a week starting September | C
Corporate finance
Stock Buybacks and Dividends Become a $1.5 Trillion Political Target | N
Dan Loeb’s Third Point Calls for Disney to Spin Off ESPN, Refresh Board | W
Climate
South, Midwest will see worst increases in extreme heat by 2053 | C
The Basic Math Problem that Undoes Global Warming Hysteria | American Thinker
Beyond markets
For Rent: 327 Square Foot Apartment With 5 Rooms—Thanks to Robot Furniture | W
August 15 (Monday)
Latest Morning Briefing Executive Summary: Waiting For Godot
Today, we sift through the recent economic data and recent Fed head chatter for clues to the critical question: Now that recession fears have abated for 2022, what are the odds of one in 2023? … We give 60% odds to a slow-growth scenario, with GDP growing 1.5% in H2-2022 and 2.5% in 2023; 35% odds to a recession next year precipitated by the Fed’s inflation battle; and 5% odds to a boom scenario. … Critical to the recession question is whether inflation is peaking. We think so but need to see more evidence to be sure. … And: Dr. Ed reviews “Elvis” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 8.
Markets
Earnings Season Is Over. The Stock Market’s Gains Won’t Come Easy Now. | BR
Market Rebound Draws Wary Eye From Some Investors | W
Wall Street, Like the Climate Bill, Bets on Both Green Energy and Fossil Fuels | W
Short-sellers are struggling despite a bad year for stocks | E
These Funds Hold Just 1 Bond. Why They're Revolutionary. | BR
Climate-plus bill
The Climate Bill Is About to Reshape Global Energy. Here’s How to Invest. | BR
Inflation Reduction Act: House passes massive climate, tax and health bill | C
America’s climate-plus spending bill is flawed but essential | E
Drug-Price Rules for Seniors Change With Passage of Climate and Health Bill | W
US
This was a good week for inflation numbers, but whether it can last is the big question | C
Consumers Are Still Spending on Fun | W
U.S. Consumer Sentiment Improved in August From Early Summer Low | W
Rent Prices Are Climbing Fast. What’s Happening—and How Much More It Could Rise. | BR
Labor Shortage Is Vexing Challenge for U.S. Economy | W
China
China’s mortgage boycotts are a symptom of a broader crisis | E
An Interview With Allianz Global’s China Expert Virginie Maisonneuve | BR
Industries & companies
Pharma: Buy Eli Lilly and Novo Nordisk Stock. Their Weight-Loss Drugs—and Their Shares—Could Take Off. | BR
Technology
Faster Internet Is Coming to America—as Soon as the Government Knows Where to Build It | W
Geopolitics & trade I
China’s huge exercises around Taiwan were a rehearsal, not a signal, says Oriana Skylar Mastro | E
Xi Jinping may attack Taiwan to secure his legacy, warn Admiral Lee Hsi-min and Eric Lee | E
How to prevent a war between America and China over Taiwan | E
Geopolitics & trade II
Thanks to Vladimir Putin, Germany has woken up | E
Why isn’t Russia blocking GPS in Ukraine? | E
Ukraine Accuses Russia of Using Nuclear Plant to Blackmail West | W
First ship carrying Ukraine wheat under UN deal docks in Turkey | R
August 13 (Saturday)
Latest Morning Briefing Executive Summary: Health Care, Earnings & Uncle Sam
Today, Jackie takes the pulse of the S&P 500 Health Care sector, examining the M&A activity that has spurred it to outperform the market ytd and what the Inflation Reduction Act will mean for drug makers. … Also: A look at the 2023 earnings growth prospects of various S&P 500 sectors and industries. … And: How the Inflation Reduction Act aims to buy a greener US. … Plus: What will the newly passed CHIPS and Science Act spend $280 billion on? Lots more than chips.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 8.
Markets
Dow closes up 400 points, S&P 500 rises for fourth straight week as investors warm to cooler inflation | C
Have Stocks Bottomed? | Morningstar
Japanese Yen Attracts Hedge Funds as a Speculator’s Currency | W
Central banks
Fed's Barkin says rate increases need to continue until inflation holds at 2% | C
Global
Global Population Is About to Hit 8 Billion—and Some Argue It Is Near Its Peak | W
US Politics--breaking news
Trump's Mar-a-Lago, a security 'nightmare' that housed classified documents | R
FBI Recovered 11 Sets of Classified Documents in Trump Search, Inventory Shows | W
Trump search warrant cites statutes that call for prison sentences | C
US
This was a good week for inflation numbers, but whether it can last is the big question | C
Best Way to Measure Inflation Rates? The Mysterious Price of Mayonnaise | B
Inflation Reduction Act’s Needless Health-Care Provisions | city-journal.org
Can I Buy a House? Market is Cooling Off With Fewer Bidding Wars Across US | B
U.S. Housing Affordability in June Was the Worst Since 1989 | W
U.S. Schools Put Covid-19 Safety Measures in Rearview, Dividing Some Parents | W
Geopolitics & trade
Ukraine Readies Plans to Evacuate Civilians Amid Fighting Near Nuclear Plant | W
China’s Xi Jinping Plans to Meet With Biden in First Foreign Trip in Nearly Three Years | W
Industries & companies
Airlines: U.S. allows Delta to temporarily cut some New York, Washington flights | R
Airlines: Even airline employees are having trouble finding a seat home from Europe this summer | C
Fitness: Peloton slashing 780 jobs, closing stores and hiking prices in push to turn profit | C
Technology
China’s Computer Chips Are Down | W
Beyond markets
Monkeypox Virus: WHO Asks Public to Submit New Name Ideas in Online Portal | B
August 12 (Friday)
Latest Morning Briefing Executive Summary: Health Care, Earnings & Uncle Sam
Today, Jackie takes the pulse of the S&P 500 Health Care sector, examining the M&A activity that has spurred it to outperform the market ytd and what the Inflation Reduction Act will mean for drug makers. … Also: A look at the 2023 earnings growth prospects of various S&P 500 sectors and industries. … And: How the Inflation Reduction Act aims to buy a greener US. … Plus: What will the newly passed CHIPS and Science Act spend $280 billion on? Lots more than chips.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 8.
Markets
Stock Rally Fades as Investors Weigh Next Steps on Inflation | W
The Market’s Peak Inflation Story Fights the Fed | W
OPEC Cuts Oil-Demand Forecasts as Economic Growth Slows | W
US
Column: Deep U.S. curve inversion hastens the recession it predicts | R
U.S. Supplier Inflation Logs Slowest Pace Since Last Fall | W
Gas prices are falling — Here's why it's happening and whether it can continue | C
Inflation Cooled in July, Welcome News for White House and Fed | N
U.S. Home Prices Jumped to Record High in Second Quarter | W
US Mortgage Rates Swing Back Up, Hitting 5.22% in Volatile Market | B
Inflation, Soaring Rent Prices From Miami to Las Vegas Has Americans Struggling | B
China
The Bursting Chinese Housing Bubble Compounds Beijing’s Economic Woes | W
Industries & companies
Energy: How high energy prices are making things better this summer | The Hill
Media: Disney is raising prices, but this time, don't blame inflation | C
Geopolitics & trade
Xi Sought to Send Message to Biden on Taiwan: Now Is No Time for a Crisis | W
EU Proposes Significant Concession to Iran to Revive Nuclear Deal | W
Beyond markets
New Langya virus infects 35 people in China
Covid: CDC eases guidance as U.S. has more tools to fight the virus | C
U.S. CDC no longer recommends students quarantine for COVID-19 exposure | R
August 10 (Wednesday)
Latest Morning Briefing Executive Summary: Earnings & Productivity
Why are industry analysts now slashing the estimates they had raised throughout the year’s first half (even as the economy slowed)? … Why has productivity growth dropped to its weakest y/y rate since 1947? Is it simply returning to its pre-pandemic trendline? … Why has household formation suddenly rebounded? … How did landlords get so lucky as to find themselves in a “Golden Age”? … Today, we explain these economic anomalies, aided by recent data releases. … Also: With the economy in a growth recession and forward earnings starting to flatten, the valuation-led stock market rally might sputter for a while.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 8.
Markets
Tech Stocks Lead Market Lower as Investors Await Inflation Data | W
Strategists Under the Same Roof Clash on Stock Market Before US CPI Data | B
U.S. Lawmakers Look to Digital Dollar to Compete With China | W
US I
How This Economic Moment Rewrites the Rules | N
Rapid Wage Growth Keeps Pressure on U.S. Inflation | W
Eggs Prices in US Jump 47% as Food Inflation Soars, IRI Says | B
U.S. Productivity Falls for Second Straight Quarter | W
With 87,000 new agents, here's who the IRS may target for audits | C
US II
Congress needs to take its role in inflation seriously | The Hill
Biden needs to stop stock trading in Congress | MSNBC
FBI Search of Trump Property Prompted by Concerns Over Sensitive Documents | W
Geopolitics & trade
War between China and Taiwan would create global chaos | Washington Times
War Game Finds U.S., Taiwan Can Defend Against a Chinese Invasion | W
U.S. Solar Shipments Are Hit by Import Ban on China’s Xinjiang Region | W
Industries & companies
Autos: Ford increasing price of electric F-150 Lightning | C
Technology
Chip Makers Expect Demand Slowdown to Expand Beyond PCs, Smartphones | W
Beyond markets
FDA Adopts Policy to Stretch Monkeypox Vaccine Supplies | W
U.S. allows alternate monkeypox vaccine injection method to boost supply | R
August 09 (Tuesday)
Latest Morning Briefing Executive Summary: Around The World
Zooming out to assess big-picture data for major global economies, we conclude that Germany and China look most vulnerable to a recession next year. The US wouldn’t be immune to a global recession, but certain factors help insulate it. These include heavy capital inflows resulting from foreign investors’—correct—perception that US financial markets offer the safest harbor there is. Overweighting the US in global portfolios remains prudent. … Also: Germany’s economy faces duress this winter as heating the country becomes a challenge, and China’s economy is suffering at the hands of homegrown problems related to housing, lockdowns, and demographics.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 8.
Markets
S&P 500 and Nasdaq slip to start the week as Nvidia warning puts brakes on market rally | C
Wall Street muted on mixed inflation messages | R
U.S. Lawmakers Look to Digital Dollar to Compete With China | W
Central banks
Consumers expect inflation to slow down, a big win for the Fed | C
Energy
What Germans Know About Nuclear Power | W
US
Economist: Inflation Reduction Act won't curb inflation short-term | C
The Houdinis of Carried Interest | W
What carried interest is, and how it benefits high-income taxpayers | C
The Inflation Reduction Act would double IRS agents and audits — but superrich aren't real targets | P
Reconciliation bill includes nearly $80 billion for IRS funding | C
Opinion | Bill Gates: A Clean Energy Future is in the Hands of Congress | N
Hiring Gets Easier for Some Employers Despite Hot Job Market | W
The inflation problem nobody is talking about | Washington Examiner
Geopolitics & trade
Biden 'concerned' as China extends military drills around Taiwan | R
Apple tells suppliers to use 'Taiwan, China' or 'Chinese Taipei' to appease Beijing
Opinion | Chinese Ambassador Qin Gang: Pelosi's Taiwan visit was irresponsible | WP
Attacks at Ukraine Nuclear Plant Are Suicidal, U.N. Chief Warns | W
What’s the plan to counter Russia’s energy squeeze? | The Hill
Industries & companies
Aerospace: Boeing Dreamliner deliveries to resume in the 'coming days,' FAA says | C
Consumer: Tyson Foods Says Consumers Shifting Away From Higher-Priced Beef | W
Technology
Baidu Secures China’s First Ever Permits for Commercial Fully Driverless Robotaxi Services
100 Vehicles Catch fire in Delhi’s Electric Vehicle Charging Station – India
Hundreds of new mines required to meet 2030 battery metals demand | IEA report
Corporate finance
Flush with cash, Pfizer buys Global Blood Therapeutics in $5.4 bln deal | R
Beyond markets
Central Planning Fails Just As Much When Conservatives Are the Planners | FO
August 08 (Monday)
Latest Morning Briefing Executive Summary: No Recession In Labor Market
July’s surprisingly strong payroll employment report points to a strong July reading for the Index of Coincident Economic Indicators. This is good news for the economy, bad news for the fixed-income market, and mixed news for the stock market. While it squashes near-term recession fears, it ups prospective Fed hawkishness. … Within the labor market, there is unprecedented churn as people quit in record numbers for higher-paying positions elsewhere. Over half the workers in July’s employment report were hired over the past year! But consumer prices are spiraling upward along with wages, so even job-jumpers aren’t seeing much wage growth after adjusting for inflation
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 1.
Markets
Investors Brace for More Market Volatility as Earnings Estimates Slump | W
How to Protect Yourself From Another Stock Market Plunge | BR
Central banks
Fed Governor Bowman sees 'similarly sized' rate hikes ahead after three-quarter point moves | C
The Fed Is About to Ramp Up Balance-Sheet Shrinkage. It May Get Dicey. | BR
Why We Expect the Fed to Cut Interest Rates in 2023 | Morningstar
Rate Hikes Are Not the Right Answer to “Wage-Price Persistence” by James K. Galbraith | PS
What the 1980s Can Teach Us About Interest Rates and Inflation | N
Global
Weak Growth, Tight Job Markets Are a Global Phenomenon | W
The silver linings of a recession | E
Food Price Inflation Imposing Heavy Burden on Poorer Countries | W
US
Job Boom Means No Recession and Boosts Pressure for Rate Hikes | BR
Has the Recession Started? The Labor Market Says No. | BR
A shortfall in immigration has become an economic problem for America | E
Democrats’ big climate, health care and tax package clears major Senate hurdle | C
Europe
The EU agrees on an energy diet to fight Russian gas cuts | E
France’s nuclear plants are going down for repairs | E
Italy’s next government may be more nationalist than Europe likes | E
China
China’s War Games Showcase New Tools to Intimidate Taiwan | W
Column: China’s U.S. ag imports soar to new highs in 2022, but volumes vary | R
Geopolitics & trade
Chinese and Taiwanese warships shadow each other as drills due to end | R
After agreeing to let Ukraine export grain, Russia rockets its port | E
Industries & companies
Industrials: Buy GE Stock as a Breakup Looms | BR
Media: Advertising Slowdown Spreads Beyond Tech Giants to Hit TV Networks, Publishers | W
Media: Netflix may be missing an opportunity in horror movies | C
Pharma: Republicans block cap on insulin costs for many Americans from Democratic deal | C
Real Estate: Blackstone’s Giant Real Estate Fund Faces a Test | BR
Restaurants: Consumers are cutting back on restaurant spending, but CEOs say not all chains are affected | C
Tech: Direct-to-Consumer Sales Are Fueling Supply-Chain Tech Growth | W
Tech: The era of big-tech exceptionalism may be over | E
Corporate finance
CVS Plans to Bid for Signify Health | W
Beyond markets
America’s response to monkeypox has been underwhelming | E
August 06 (Saturday)
Latest Morning Briefing Executive Summary: Emerging Markets, Oil Refiners & Nuclear Power Plants
Today, Jackie takes us on a quick world tour focusing on emerging economies. Many are ailing, but a few offer a safe haven from geopolitical storms. So does the US with its strong dollar, huge economy, and relatively calm body politic. … Also: Oil refiners had a stellar Q2 operating at near maximum capacity to meet surging demand. The industry is on track for another year of eye-popping revenues and earnings growth. … And in the disruptive technologies department, we highlight the potential of SMRs—small modular (nuclear) reactors.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 1.
Markets
S&P 500, Nasdaq fall Friday, but notch weekly gains after blowout July jobs report | C
YOLO Stock Market Bulls Say Wake Me When Fed Tightening Starts to Bite | B
U.S. Treasury yields: nonfarm payrolls, unemployment, Fed, recession | C
Central banks
Larry Summers Warns Fed on 1970s-Style Mistake With CPI Set to Slow | B
US I
The U.S. economy has yet to face its biggest recession challenge | C
July Jobs Report: U.S. Added 528,000 New Jobs as Unemployment Rate Fell to 3.5% | W
Here's where the jobs are for July 2022 — in one chart | C
Workers in these two industries are the only ones coming out ahead right now | NN
US Consumer Borrowing Jumps by More Than $40 Billion, Second-Most Ever | B
US II
Yes, It's a Strong Jobs Report, but July Probably Overstates the Case | Morningstar
Jobs Report Bolsters Biden’s Message, but Inflation Makes Economy a Hard Sell | W
Democrats Trade One Bad Tax Increase for Another | W
Lower Gas Prices Threatened by Fuel Makers’ Limitations | W
Geopolitics & trade
China Steps Up Military, Diplomatic Warnings Over Taiwan | W
China halts military, climate dialogue with U.S. over Pelosi Taiwan trip | R
Industries & companies
Autos: U.S. automakers say 70% of EV models would not qualify for tax credit under Senate bill | R
Retail: The Hot New Trend for Gucci and Chanel: Middle America | W
Corporate finance
Amazon to acquire iRobot, maker of Roomba vacuums | C
Pfizer in Advanced Talks to Buy Global Blood Therapeutics for About $5 Billion | W
Beyond markets
Health Authorities Issue New Advice for Avoiding Monkeypox | W
DeepMind’s AlphaFold could be the future of science and AI | Vox
August 05 (Friday)
Latest Morning Briefing Executive Summary: Emerging Markets, Oil Refiners & Nuclear Power Plants
Today, Jackie takes us on a quick world tour focusing on emerging economies. Many are ailing, but a few offer a safe haven from geopolitical storms. So does the US with its strong dollar, huge economy, and relatively calm body politic. … Also: Oil refiners had a stellar Q2 operating at near maximum capacity to meet surging demand. The industry is on track for another year of eye-popping revenues and earnings growth. … And in the disruptive technologies department, we highlight the potential of SMRs—small modular (nuclear) reactors.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 1.
Markets
Stocks Close Mixed as Earnings Roll In | W
What this 'play the recovery' strategy says about hot bond demand | C
Oil languishes on recession fears; unconcerned stocks climb on | R
US
U.S. Jobless Claims Rose Last Week to Near High for Year | W
Job growth was likely strong in July, but it could slow soon | C
Mortgage Rates Drop Below 5% for First Time Since April | W
The inflation and price increases that broke us, from groceries to gas | Vox
Cost of Democrats’ Corporate-Tax Increase Skews to Wealthy, Reaches Middle Class | W
Sen. Kyrsten Sinema signs off on Democrats' big agenda bill, paving the way for Senate passage | C
Democrats Revise Climate Package to Strike Deal With Sen. Kyrsten Sinema | W
Geopolitics & trade
China’s Drills Around Taiwan Give Hint About Its Strategy | W
U.S. Delays Minuteman III Missile Test Amid Tensions Over Taiwan | W
Biden orders aircraft carrier to stay in South China Sea, but delays ICBM test | C
Three grain ships set to leave Ukraine; NATO chief says Russia must not win | R
Winter in Europe May Be Springtime for Putin | W
North Korea 'paves the way' for more nuclear tests, U.N. report says | R
Industries & companies
Airlines: Airlines cancel, reroute flights during Chinese military drills near Taiwan | R
Materials: The world's top coal trader is cashing in on the Ukraine war — Quartz (qz.com)
Corporate finance
Companies From Google to Pepsi Are Boosting Capital Spending | W
Beyond markets
What Remote Work Debate? They’ve Been Back at the Office for a While. | N
U.S. declares monkeypox outbreak a public health emergency | R
Great Barrier Reef areas show highest coral cover seen in 36 years | C
August 04 (Thursday)
Latest Morning Briefing Executive Summary: US Earnings & European Gas
Industry analysts finally have begun reining in their high earnings, revenues, and profit margin expectations. Their moves suggest that analysts collectively expect inflation to moderate but don’t anticipate a recession. … Also: Europe may face a cold, dark winter—literally and economically—if Russia doesn’t restore the natural gas flows to Europe that the EU depends on. Melissa presents a timeline of Russia’s gas-depriving moves and the responses from government and gas futures markets. … And: Soaring energy prices are dampening European consumer and business sentiment, boding ill for GDP growth and corporate earnings prospects. The only EMU MSCI sector with unscathed earnings growth expectations is Energy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 1.
Markets
Stocks End Higher on Earnings, Services Data | W
Energy
Gas Prices Have Fallen for 50 Straight Days, Approach $4 a Gallon | W
Russian Oil Cap Push Faces Doubts From Energy, Finance Industry | W
Nuclear Power Plants Could Stay Open, Says Germany | W
Central banks
Federal Reserve rate hikes could be worse than inflation for the economy | MSNBC
Fed Officials Signal Additional Rate Rises Warranted to Slow Economy | W
US
Consumer debt tops $16 trillion as inflation fuels credit card surge | NN
Tech companies, banks overstaffed, while airlines, hotels need workers | C
Cost of Democrats’ Corporate-Tax Increase Skews to Wealthy, Reaches Middle Class | W
Manchin-Schumer Bill Gets CBO Nod for $102 Billion Deficit Cut | B
Manchin Deal Tosses $30 Billion Lifeline to US Nuclear | B
China
China Real Estate Market: Mortgage Boycott May Spur Multi-Billion Dollar Rescue | B
China’s Property Crisis Threatens to Drag Down Steel Industry | yahoo.com
Geopolitics & trade
Pelosi lauds Taiwan, says China's fury cannot stop visits by world leaders | R
As Pelosi Leaves Taiwan, China’s Military Looms Larger | W
To understand China's Pelosi rage, consider a Civil War analogy | Washington Examiner
Pelosi's trip to Taiwan makes matters worse for U.S. and China relations | C
Big Tech Is the West’s Surprise Weapon in Competition With Russia, China | W
With eye on Russia, U.S. Senate backs Finland and Sweden's joining NATO | R
Industries & companies
Autos: Chip makers have a message for car makers: Your turn to pay | R
Autos: EV Maker Lucid Cuts Production Outlook in Half | W
Media: Netflix Is Scrambling to Learn the Ad Business It Long Disdained | W
Retail: Walmart Lays Off Hundreds of Corporate Workers | W
Climate
US West, Already in Drought, Is Facing Dwindling Snowpacks | B
Technology
Battery Streak Aims to Change How Electric Vehicles Run | dot.LA
Beyond markets
Richard Clarida Returns to Pimco After Fed Cleared Him in Trading Probe | B
U.S. regulators defend requiring more data on monkeypox drug | R
August 03 (Wednesday)
Latest Morning Briefing Executive Summary: US Earnings & European Gas
Industry analysts finally have begun reining in their high earnings, revenues, and profit margin expectations. Their moves suggest that analysts collectively expect inflation to moderate but don’t anticipate a recession. … Also: Europe may face a cold, dark winter—literally and economically—if Russia doesn’t restore the natural gas flows to Europe that the EU depends on. Melissa presents a timeline of Russia’s gas-depriving moves and the responses from government and gas futures markets. … And: Soaring energy prices are dampening European consumer and business sentiment, boding ill for GDP growth and corporate earnings prospects. The only EMU MSCI sector with unscathed earnings growth expectations is Energy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 1.
Markets
OPEC+ Considers Modest Oil-Production Increase, Output Freeze, Say Delegates | W
Japan's Yen Recovery Cut Short After Biggest Four-Day Advance Since 2020 | B
Central banks
Fed's Mary Daly says 'our work is far from done' in raising rates | C
The Federal Reserve Just Can’t Stop Bond Traders’ Wishful Thinking | B
US
Higher Mortgage Rates Haven't Slowed Home Price Growth – Yet | Mortgages and Advice | US News
The 'recession cure' divides economists | NN
Automakers press U.S. Senator Manchin for changes to EV tax credit proposal | R
Rent prices are soaring in these 5 metros. What to know before moving | C
China
China ratchets up military and economic pressure on Taiwan as Pelosi begins her visit | C
Europe
Europe’s Coal-Buying Frenzy Means Windfall for Producers | W
Geopolitics & trade
Russia accuses U.S. of direct Ukraine war role, grain ship anchors off Turkish coast | R
Ukraine Scrambles to Shift Its Grain Before Storage Runs Out | W
Pelosi arrives in Taiwan vowing U.S. commitment; China enraged | R
Nancy Pelosi's Taiwan Trip Will Encourage China's Gray-Zone Tactics | B
Industries & companies
Consumer discretionary: Three more Amazon warehouses added to OSHA safety investigation | C
Retail: Snack, Deodorant Makers Target Cost-Conscious Shoppers With New Brands and Sizes | W
August 02 (Tuesday)
Latest Morning Briefing Executive Summary: Valuation, M-PMI & Consumers
Yesterday’s M-PMI report jibed with our view that the US economy is in a growth recession with some sources of inflation abating—which is bullish for stocks. … Since we think the S&P 500 might have bottomed on June 16, we’re raising our target ranges for its price index and forward P/E multiple while keeping our earnings expectations unchanged. … Also: The recent consumer spending and saving data paint a challenging picture: The “inflation tax” has sapped consumers’ purchasing power, causing less saving and more borrowing to support essential spending. Consumer sentiment hasn’t been so negative in nine years. Nevertheless, consumers should continue to pivot from buying goods to buying services.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on August 1.
Markets
Stocks Edge Lower to Start Month | W
Commodities
Oil prices slip as weak manufacturing data stokes recession fears | R
Coal consumption is expected to return to 2013′s record levels: IEA | C
US I
Number of Americans employed and hours worked falls in July, data show | R
U.S. Factory Growth Slowed in July on Decline in Orders | W
Home prices cooled at record pace in June, according to housing data firm | C
Dollar-Store Dinners and Vats of Shampoo Help Families Cope With Inflation | W
US II
The answer to high energy prices isn’t new taxes, but new supplies | The Hill
Gen Z Knows What It Wants From Employers. And Employers Want Them. | N
Fleeing families will leave New York without a future | P
Geopolitics & trade
Biden says drone strike killed al-Qaeda leader al-Zawahiri, warns terrorists we will ‘take you out’ | C
'Glimmer of hope' as Ukraine grain ship leaves Odesa port | R
Biden, Putin strike conciliatory tones as nuclear arms talks start at U.N. | R
Industries & companies
Autos: Ford stock posts best month since the Great Recession | C
Consumer Discretionary: Amazon says carbon emissions rose 18% in 2021 as Covid drove upsurge | C
Biotech: Amgen Fights IRS Over $10.7 Billion Tax Bill | W
Corporate finance
Estée Lauder in Talks to Buy Luxury Brand Tom Ford | W
Technology
S.Korea develops nanotech tattoo as health monitoring device | R
Beyond markets
Monkeypox: California, New York, Illinois declare outbreak an emergency | C
August 01 (Monday)
Latest Morning Briefing Executive Summary: Switching Planets: Investors Now From Venus, Analysts From Mars
We’ve been making the case that the latest bear market might have bottomed on June 16. So far, so good. ... Just a few weeks back, industry analysts’ earnings estimates suggested they were oblivious to investors’ recession fears, and we quipped that the former was from Venus, the latter from Mars. Now it’s investors interpreting news with a rosy bias as analysts shave their estimates. … The stock market now appears to be discounting investors’ recent hopes of peak inflation, peak Fed hawkishness, and a mild recession. … Also: We examine Powell’s suggestion that monetary policy is nearly restrictive. … And: The Bond Vigilantes are from Venus now too.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 25.
Markets
The Power of Positive Thinking Returns to Markets | W
Individual Investors Ramp Up Bets on Tech Stocks | W
Central banks
How the Fed’s Response to Inflation Now Can Avert a 1970s-Style Crisis | BR
Neel Kashkari: Rising inflation larger threat than potential recession | C
Commodities
Oil prices slip ahead of OPEC+ meeting | R
U.S. Eyes Sanctions Against Global Network It Believes Is Shipping Iranian Oil | W
The World Food Shortage Is Getting Worse. These Companies Have Solutions. | BR
Farm Giants Expect Continued Food-Supply Problems Despite Ukraine Grain Deal | W
Falling Food Prices Ease Upward Pressure on Global Inflation | W
US I
Lower Inflation Likely Requires Higher Unemployment; How High Is the Question | W
Consumers Have Powered Through the Pandemic and Inflation—Until Now | W
U.S. Consumers are ‘Trading Down.’ How to Play It With Options. | BR
US II
How Pessimistic Americans Could Worry the Economy Into Recession | BR
Recession another victim of Democrats' rewriting of the English language | P
Bidenflation has become Bidencession | Washington Examiner
Manchin touts inflation reduction bill, says 'I'm not getting involved' in upcoming elections | C
Federal emergency savings proposals may also boost retirement funding | C
Senate Tax-and-Climate Plan Hinges on Streamlining Energy Projects | W
Emerging
China’s Stumbling Manufacturing, Property Sectors Show Long Road to Recovery | W
The Putin Show | E
MBS: despot in the desert | E
Geopolitics & trade
The Ukraine war may ring the knell for nuclear arms control | E
Pelosi Travels With Delegation to Asia Amid Chinese Warnings Not to Visit Taiwan | W
Technology
Shenzhen accelerates China's driverless car dreams | R
The U.S. Is Investing Big in Chips. So Is the Rest of the World. | W
Beyond markets
How the Covid-19 Pandemic Changed Americans’ Health for the Worse | W
July 30 (Saturday)
Latest Morning Briefing Executive Summary: The Fed, Earnings, Chips & AI
Investors cheered the Fed’s no-surprises announcement of another 75bps hike in the federal funds rate yesterday. Moreover, Q2 earnings reports have been confirming our soft-landing scenario for the economy, and S&P 500 companies’ earnings are expected to hold up respectably this year and next. … But Q2 reports revealed pain points for certain industries—e.g., retailers that cater to lower-income consumers felt the brunt of inflation-strained consumer budgets. … Semiconductor makers on Q2 calls addressed worries about customers’ inventory buildups. … And: What won’t AI be transforming? Today, we look at how AI is facilitating new drug development.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 25.
Markets
Stocks rally for a third day to cap a winning week, major averages post best month since 2020 | C
Shock July Stock Rally Was a Monster the Fed May Regret Seeing | B
Fight Runaway Inflation With I Bonds | W
Central banks
Fed’s Bostic Says Economy Probably Isn’t in Recession, More Rate Rises Needed | W
US I
If the Economy Is Shaky, Why Are Company Profits Still Strong? | N
White House goes on offense to argue that the U.S. is not in a recession | C
U.S. Economy Transitions to Slower Growth as Inflation Weighs on Consumers | W
Consumer Spending Grew Much Faster in June | W
Inflation figure that the Fed follows closely hits highest level since January 1982 | C
‘Inflation Reduction Act’ Has Little Inflation Help, Study Says | B
Mortgage rates fall sharply after negative GDP report and Fed's latest hike | C
US II
Yellen’s Global Tax Plan Gets No Love From Manchin-Schumer Deal | B
House Democrats push for Biden’s billionaire minimum income tax | C
U.S. Senate bill could be death blow for Biden anti-drilling pledge | R
China
China Evergrande Breaks Silence on Debt-Restructuring Plan | W
Europe
Eurozone Recovery Picks Up Speed but Ukraine War Threatens Deep Contractions | W
Europe’s Energy Policy Problems Are Self-Inflicted | reason.com
Geopolitics & trade
How HIMARS could change the Ukraine-Russia war | C
U.S., Japan to cooperate on semiconductors as part of new economic dialogue | R
Industries & companies
Airlines: Airplane-Parts Shortage Threatens More Disruptions to Air Travel | W
Energy: Exxon, Chevron, Shell Report Record Profits on High Energy Prices | W
Pharma: Senate reconciliation has 'once in a generation’ prescription reform | C
Beyond markets
U.S. Reaches $1.74 Billion Deal With Moderna for Updated Covid-19 Shots | W
July 29 (Friday)
Latest Morning Briefing Executive Summary: The Fed, Earnings, Chips & AI
Investors cheered the Fed’s no-surprises announcement of another 75bps hike in the federal funds rate yesterday. Moreover, Q2 earnings reports have been confirming our soft-landing scenario for the economy, and S&P 500 companies’ earnings are expected to hold up respectably this year and next. … But Q2 reports revealed pain points for certain industries—e.g., retailers that cater to lower-income consumers felt the brunt of inflation-strained consumer budgets. … Semiconductor makers on Q2 calls addressed worries about customers’ inventory buildups. … And: What won’t AI be transforming? Today, we look at how AI is facilitating new drug development.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 25.
Central banks
The U.S. economy is shrinking. The Fed's rate hikes may have only just begun to bite | R
BOJ policymakers debated chance of Fed-driven U.S. recession | R
US I
GDP Report May Have Showed a Decline, but It's Not a Recession | Morningstar
U.S. GDP Fell at 0.9% Annual Rate in Second Quarter; Recession Fears Loom Over Economy | W
Recession or Not, the Recovery Has Ended | W
Mortgage Rates Fall to 5.3%, Continuing Volatile Stretch | W
Inflation-exhausted Americans: Let's just go out for steak | NN
Big cities are where the jobs are — but millennials aren’t moving | Vox
The Crisis Facing Nursing Homes, Assisted Living and Home Care for America’s Elderly | PO
US II
Manchin's climate turnaround: Climate groups react | C
Manchin, Schumer Revived Climate Bill in Secret Talks, Now Seek Democrats’ Support | W
China competitiveness and chip bill passes House, goes to Biden | C
Europe
How the German Economic Machine Broke Down | W
Japan
Japan's factory output zooms as China eases COVID curbs | R
Emerging
Analysis: S.Korea's sudden property slump tests world's most indebted consumers | R
They Flocked to China for Boom Times. Now They’re Thinking Twice. | N
Jack Ma Plans to Cede Control of Ant Group | W
Geopolitics & trade
Don't 'play with fire' over Taiwan, China's Xi warns in call with Biden | R
July 28 (Thursday)
Latest Morning Briefing Executive Summary: The Fed, Earnings, Chips & AI
Investors cheered the Fed’s no-surprises announcement of another 75bps hike in the federal funds rate yesterday. Moreover, Q2 earnings reports have been confirming our soft-landing scenario for the economy, and S&P 500 companies’ earnings are expected to hold up respectably this year and next. … But Q2 reports revealed pain points for certain industries—e.g., retailers that cater to lower-income consumers felt the brunt of inflation-strained consumer budgets. … Semiconductor makers on Q2 calls addressed worries about customers’ inventory buildups. … And: What won’t AI be transforming? Today, we look at how AI is facilitating new drug development.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 25.
Markets
Dow rallies 400 points as Powell hints Fed could slow pace of rate hikes, Nasdaq jumps 4% | C
OPEC+ Walks a Fine Line on Oil Output: Elements by Julian Lee | B
Nasdaq has biggest one-day jump since 2020 after Fed rate hike, Powell comments | R
Powell says markets have been orderly as Fed has hiked rates | R
Energy
Energy Prices in Europe Surge After Russia Slashes Gas Flows | W
Central banks
Fed decision July 2022: Fed hikes interest rates by 0.75 percentage point | C
Fed raise rates again, says will not relent in inflation fight | R
Fed's Powell: Another 'unusually large' rate increase may be warranted at next meeting | R
Dudley Says Fed Will Hike Interest Rates Much Further Than What Markets Expect | B
Widely Watched Yield Curve at Most Inverted in Decades After Fed | B
Fed Chair Jerome Powell said he does not think the U.S. is currently in a recession | C
US I
U.S. economy probably barely grew last quarter and may have contracted | C
What Is Stagflation? What to Know About the Combination of High Inflation and Stagnating Economic Growth | W
How U.S. Inflation Expectations Are Being Shaped by Consumer Choices | N
Cost of living crisis? Consumers keep spending for now | R
US II
US Budget Deficit to Hit Lowest Since 2018 This Year, CBO Says | B
CBO Expects Significant Rise in Public Debt Burden, Deficit | W
Midterm Elections 2022: The Political Guessing Game Just Got Weirder | B
Boise’s Housing Market Boomed Early in the Pandemic. Now It Is Cooling Fast. | W
China
China’s Wuhan Province Locks Down District With One Million People | W
Geopolitics & trade
Russia cuts gas flows further as Europe urges energy saving | R
U.S., Europe Dig In for Long Economic Standoff With Russia | W
Ukraine Strikes Crucial Bridge in Russian-Occupied South | W
Biden to Speak With Chinese President Xi on Thursday | W
Semiconductor Subsidies, Tariffs Are the Price of Reducing Dependence on China | W
Industries & companies
Hotels: Everybody Into the Hotel Pool! That’ll Be $200. | W
Retail: Walmart Discounts, Falling Gas Prices Could Help Consumers | B
Retail: Best Buy cuts sales forecast as inflation pressures shoppers | C
Corporate finance
Spirit and Frontier End Merger Agreement | W
Beyond markets
A radical vision for reinventing the suburbs | fastcompany.com
The Unsolved Mystery Attack on Internet Cables in Paris | WIRED
July 27 (Wednesday)
Latest Morning Briefing Executive Summary: All About Housing
The US housing market is undergoing a reversal of fortune. The scorching hot market conditions of six months ago have reversed, as 40% home appreciation over the past two years plus soaring mortgage rates have priced homeownership beyond many Americans’ grasp. The resultant greater demand for rental units has spurred high rent inflation. Additionally, the pool of would-be homebuyers has shrunk, more deals are falling apart before closing, motivated sellers have begun dropping listing prices, and builders are slashing prices. … Today, we look at all things housing, including how recent demographic and domestic migration trends have affected market conditions and at how market conditions are affecting homebuilders.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 25.
Global
IMF Again Cuts Global Growth Forecast Amid Inflation, War in Ukraine | W
Central banks
The Fed could surprise markets by sounding even more aggressive as economy teeters | C
Fed to unveil another big rate hike as signs of economic slowdown grow | R
Four Things Markets Are Watching at Today's Fed Meeting | B
The problem with a persistently late Federal Reserve | The Hill
US
If it looks like a recession and quacks like a recession... | NN
Home-Price Growth Stayed Strong in May | W
Don’t Expect Big Consumer Brands to Lower Prices Soon | W
Low-Cost Cities With Strong Economies Remain Attractive as Housing Market Slows | W
Europe
Putin's new gas squeeze condemns Europe to recession and winter of rationing | C
China
China's property sales set for a worse plunge than in 2008, S&P says | C
Column: U.S. disapproval of China's grain stockpiling full of irony | R
Geopolitics & trade
Ukraine Calls for More Sanctions in Response to Russia’s ‘Gas War’ | W
Kremlin: Gazprom is supplying as much gas to Europe as possible | R
With No Work or Money, Ukrainians Return Home to Russian-Controlled Territory | W
Map of 'Power of Siberia' gas pipeline that China, Russia are working on | C
China Targeted Fed to Build Informant Network and Access Data, Probe Finds | W
Beyond markets
Penn Station plan is the worst deal since Manhattan was sold for $24 | P
Monkeypox emergency could last months, with window closing to stop spread, experts say | R
July 26 (Tuesday)
Latest Morning Briefing Executive Summary: How Much Rate Hiking Does QT2 Equal?
The Fed may have 100bps less of rate hiking to do thanks to the tightening effects of the strong dollar and QT2, the Fed’s balance-sheet-reduction plan. That means the Fed may be done raising the federal funds rate in September after just two more 75bps increases to 3.00%. … Indeed, the Treasury market appears to be discounting a 3.00% peak, sooner rather than later. … The mortgage market in particular must be discounting QT2, as the Fed’s rate hiking alone can’t account for how high mortgage rates have soared, depressing housing and weakening the economy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 25.
Markets
Premature rally? It's too early to talk of central bank 'peak hawkishness,' strategist says | C
The Markets and Economy Are Reaching a Fork in the Road | N
Bearish Dennis Gartman Becomes ‘Quietly Neutral’ After Stocks Rebound | B
Central banks
Fed's united front on interest rates may soon be tested | R
Investors Bet Fed Will Need to Cut Interest Rates Next Year to Bolster the Economy | W
US
The numbers show the U.S. economy is at least teetering on a recession | C
Shallow Recession Calls Are ‘Totally Delusional,’ Roubini Warns | B
This Dallas Fed Economic Survey Is the Perfect Snapshot of the Economy Right Now | B
Americans Driving Less With Pump Prices Still Higher Than a Year Ago | B
Inflation in US: Difficulty Paying Bills Tops Pandemic High in Census Survey | B
Why these 'unretirees' went back to work | NN
Nancy and Paul Pelosi are trading large — with a wealth of hypocrisy | P
Europe
Russia to Cut Europe’s Gas Flow via Nord Stream to 20% | W
China
From ‘Lying Flat’ to ‘Let It Rot’ China’s Gen Z Lowers Their Ambitions Even More | B
Industries & companies
Energy: U.S. Energy Department set to loan GM battery joint venture $2.5 bln | R
Materials: Redwood Materials Plans $3.5 Billion Battery-Materials Plant in Nevada | W
Retail: Walmart Cuts Profit Outlook as It Lowers Prices to Move Goods | W
Technology
Dreaming up new proteins, AI churns out possible medicines and vaccines | Science | AAAS
Climate
Gov Newsom declared a state of emergency over Oak Fire in California | C
July 25 (Monday)
Latest Morning Briefing Executive Summary: Anatomy Of A Mid-Cycle Slowdown
Investors still have plenty to fear. But our earnings and economic data analyses plus recent stock market action tend to support our relatively constructive outlooks for the economy and stock market (especially relative to the fears). … Specifically, we think the S&P 500 likely hit its bear-market low of 3666 on June 16 and will remain range bound between 3666-4150 pending economic improvement; the peaking of inflation should limit further valuation downside. … As for the economy, we think it’s undergoing a mid-cycle slowdown that could flatten expected earnings growth—but not a conventional recession that causes earnings to tank.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 18.
Markets
S&P 500 sheds nearly 1% Friday on Snap-led tech sell-off, but finishes higher on week | C
Weak Earnings Reports Aren’t Fazing Investors After Brutal Year for Stocks | W
ESG should be boiled down to one simple measure: emissions | E
The Latest Euro Crisis Was Decades in the Making | BR
Gold Prices Hit by Renewed Bets on Higher Yields and Stronger Dollar | W
Central banks
Fed to Inflict More Pain on Economy as It Readies Big Rate Hike | B
Summers Says Fed Needs to Take Strong Action to Curb Inflation | B
U.S. Risks Deeper Downturn If Fed Has to Fight Inflation Alone | W
Why ECB Rate Hikes Risk Breaking the Euro—and Europe | BR
US
There Are Signs Inflation May Have Peaked, but Can It Come Down Fast Enough? | W
Rich Americans Keep Borrowing, Defying Economic Gloom | W
Yellen Says Signs of US Recession Aren’t in Sight for Now | B
Why Is U.S. Infrastructure So Costly—and What Can We Do About It? | W
Redfin: Homebuyers want to leave San Francisco, Los Angeles, New York | C
Europe
Mario Draghi, Italy’s reformist prime minister, resigns | E
China
Is China Headed for a Lehman-Style Crisis? This Property Bust Is Different. | BR
China Bets Big on Basic Chips in Self-Sufficiency Push | W
Emerging
Favored Emerging-Market Trade Loses Luster on Recession Fears | B
Emerging-market crises have become harder to resolve | E
Geopolitics & trade
Ukraine works to resume grain exports, flags Russian strikes as risk | R
World leaders slam Putin's attack on Odesa following sea corridor deal | C
Odessa’s port may soon be reopened | E
Russia’s Natural-Gas Game Comes With Economic Risks | W
Industries & companies
Autos: Why CEO Mary Barra is confident GM can beat Tesla in electric vehicles | C
Consumer Discretionary: Buy Amazon Stock: It Could Double From Here | BR
Consumer Discretionary: Amazon: One Medical deal gives it access to my most personal info | C
Financials: Banks Are Better Off Than They Look. How to Profit With This Options Strategy. | BR
Retail: More Shoppers Buy Store Brands, Eating Into Big Food Companies’ Sales | W
Retail: Cheaper Beer, Cigarettes Gain Favor as Inflation Pinches Shoppers | W
Climate
Heat Wave Hits U.S. Farms, Stressing Crops and Ranchers’ Herds | W
U.S. Pushes for More Help for Drought-Stricken Eastern Africa | W
Wildfires burn coastal homes, forests in Greece as Europe's heatwave spreads east | R
Evacuations underway amid fire near Yosemite National Park | C
Explainer: What is behind the heat waves affecting the United States? | R
Technology
A West Coast port worker union is fighting robots. The stakes are high | C
Beyond markets
WHO declares spreading monkeypox outbreak a global health emergency | C
July 23 (Saturday)
Latest Morning Briefing Executive Summary: Financials, China & Russian Gas
Banks have been navigating rising interest-rate seas remarkably well, managing to keep low the interest rates they pay out on deposits and raise the rates they take in on loans. As a result, net interest margins have been improving nicely from last year’s depressed levels. If banks can keep that up, the income upside would be substantial. … Also: China may regret not opposing Russia’s war in Ukraine if emerging market nations, struggling under the burden of war-induced food and energy inflation, aren’t able to make good on their debt payments to China. … And: A timely look at innovative ways to generate and store energy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 18.
Markets
Stocks Drop, Ending Three-Day Rally | W
S&P 500 sheds nearly 1% Friday on Snap-led tech sell-off, but finishes higher on week | C
Broken Bulls, Big Breadth: Weighing a Case for a Turn in the Stock Market | B
Currencies & commodities
Column: Aluminum producers feel the margin pain as price slumps | R
What a Strong Dollar Means for the Rest of the World | W
Goldman Sachs Doubts Intervention on Euro, But Action on Yen Possible | B
US
U.S., Global Business Activity Slid in July | W
Consumer Confidence Drops as Inflation Hits Shoppers, Morgan Stanley Survey Says | B
Column: Oil and interest rate futures point to cyclical downturn before end of 2022 | R
You're not the only one who's confused about the economy. The experts are baffled, too | NN
Larry Summers Says Raise Taxes ‘Right Now’ to Help Battle Inflation | B
The One Place You Can Still Get a 3% Home Loan: Your Family | W
Shippers avoiding Port of Oakland as trucker protests stop trade | C
Europe
Europe Is Tested Anew, This Time by Energy, Inflation and Putin | W
Europe’s Diesel Market Slides From Mind-Blowing to Amazing | B
Gazprom says no additional obligations for Russia to get Nord Stream 1 turbine | R
Nord Stream 1 is flowing again. But Europe’s gas crisis isn’t going away. | Vox
Industries & companies
Autos: Apple CarPlay could be a trojan horse into the automotive industry | C
Geopolitics & trade
Ukraine’s Zelensky Says a Cease-Fire With Russia, Without Reclaiming Lost Lands, Will Only Prolong War | W
Russia, Ukraine Clear Way for Grain Exports to Resume Amid Fears of Global Food Crisis | W
Russia-Ukraine Grain Deal Won’t Translate Into Big Exports Immediately | W
Corporate finance
Steelmakers Pour On More Investments, Shaking Off Economic Concerns | W
Technology
Europe's energy giants explore potential of floating solar | C
Beyond markets
Monkeypox: Biden administration considering public health emergency | C
U.S. identifies first cases of monkeypox in children | R
Monkeypox 'panic' is overblown and failing | P
Americans Endure Yet Another Day in Record-Breaking Heat Wave | W
July 22 (Friday)
Latest Morning Briefing Executive Summary: Financials, China & Russian Gas
Banks have been navigating rising interest-rate seas remarkably well, managing to keep low the interest rates they pay out on deposits and raise the rates they take in on loans. As a result, net interest margins have been improving nicely from last year’s depressed levels. If banks can keep that up, the income upside would be substantial. … Also: China may regret not opposing Russia’s war in Ukraine if emerging market nations, struggling under the burden of war-induced food and energy inflation, aren’t able to make good on their debt payments to China. … And: A timely look at innovative ways to generate and store energy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 18.
Markets
Stocks Finish Higher as Earnings Continue; Tesla Jumps Nearly 10% | W
What Is the Yield Curve? Wall Street’s Recession Alarm Is Ringing. | N
Fund Managers Show ‘Dire’ Levels of Pessimism, Poll Finds | N
Central banks
The ECB Raises While Mario Draghi Falls | W
ECB Raises Rates by Half-Percentage Point in First Hike Since 2011 | W
European Central Bank surprises markets with larger-than-expected rate hike | C
Analysis: R.I.P. forward guidance: Inflation forces central banks to ditch messaging tool | R
US
2 Big Reasons the Housing Market Will NOT Collapse | InvestorPlace
Companies Swallow $2.1 Billion in Taxes as Executive Pay Climbs | W
Europe
Russia Resumes Nord Stream Natural-Gas Supply to Europe | W
China
Is China facing a balance sheet recession? | Quartz
Geopolitics & trade
Ukraine's ports to reopen under deal to be signed Friday, Turkey says | R
Column: U.S. wheat steals world spotlight but Ukraine deal could interfere -Braun | R
Industries & companies
Airlines: Airlines temper flying ambitions after chaotic travel rebound | C
Energy: High Gas Prices Have Fuel Makers Raking In Cash | W
Corporate finance
Amazon to Buy One Medical Network of Health Clinics in Healthcare Expansion | W
Beyond markets
Japan decides to hold ex-PM Abe's state funeral on Sept 27 -source | R
July 21 (Thursday)
Latest Morning Briefing Executive Summary: Financials, China & Russian Gas
Banks have been navigating rising interest-rate seas remarkably well, managing to keep low the interest rates they pay out on deposits and raise the rates they take in on loans. As a result, net interest margins have been improving nicely from last year’s depressed levels. If banks can keep that up, the income upside would be substantial. … Also: China may regret not opposing Russia’s war in Ukraine if emerging market nations, struggling under the burden of war-induced food and energy inflation, aren’t able to make good on their debt payments to China. … And: A timely look at innovative ways to generate and store energy.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 18.
Markets
Opinion: The painful market selloff should be over soon | NN
Tech Stocks Gain, With Nasdaq Climbing 1.6% | W
Market Rout Shows Dangers of Margin Lending, Crypto Style | W
The reason behind a mysterious trading surge in stocks like Berkshire Hathaway has been revealed | C
Central banks I
ECB Being Pulled in Multiple Directions as It Prepares First Rate Rise in a Decade | W
ECB to finally join rate hike club with big move on agenda | R
BOJ to retain easy policy, staying outside global tightening tide | R
Interest-Rate Pain From Higher Inflation Has Barely Begun | W
Central banks II
The Fed can fight inflation and unemployment — Here’s how | The Hill
Inflation Is a Beast the Fed Will Never Be Able to Tame | B
Powell's fool's journey chasing inflation | WP
Energy
Putin Says Russia to Meet Gas Commitments to Europe but Warns of Nord Stream Cuts | W
Natural Gas Remains Putin’s Weapon of Choice | W
Putin’s Gas Game: Toy With Europe’s Supply and Make Its Leaders Squirm | W
EU tells members to cut gas usage amid new Putin warning | R
Spain says it cannot support EU gas usage proposal | R
Gasoline prices may have hit summer peak and could be headed below $4 | C
US
U.S. existing home sales slide again; prices hit fresh record high | R
U.S. Home Prices Hit Record of $416,000 in June as Sales Continued to Slide | W
Mortgage demand drops to lowest level in 22 years | C
Inflation Has Now Devoured All Biden’s COVID ‘Rescue’ Checks | I&I
Consumers shun candles, barbecue kits as budgets tighten | R
Trucker protests stall cargo movement at California's No. 3 seaport | R
Republicans slam Biden's possible plan to cancel student debt | C
Europe
U.K. Inflation Hits 9.4%, a New 40-Year High | W
China
China Evergrande Prepares to Shed Light on Restructuring as Creditors’ Patience Wears Thin | W
Geopolitics & trade
U.S. faces recession if cut from Taiwan chip manufacturing: Raimondo | C
How Joe Manchin Left a Global Tax Deal in Limbo | N
Industries & companies
Airlines: Opinion: The pilot shortage is about to get a lot worse | NN
Tech: Chip-Making Machines Draw Record Orders for Dutch Tech Firm | W
Corporate finance
EXCLUSIVE Shell places U.S. Gulf of Mexico assets up for sale -sources | R
Climate
Biden announces new climate programs, but no emergency declaration | C
Europe heat wave photos: London fire department busiest day since WWII | C
More Than 100 Million Americans Face Dangerous Heat Wave | W
Beyond markets
Bad news: COVID-19 numbers are pretty meaningless | The Hill
July 20 (Wednesday)
Latest Morning Briefing Executive Summary: The Dollar & Earnings
Although Fed officials rarely discuss the US dollar’s impact on the economy, the dollar’s recent strength does exert an impact comparable to some degree of interest-rate hiking. Ditto the Fed’s latest quantitative tightening program, QT2. Both effectively will lower the federal-funds-rate endpoint of this tightening cycle. … The dollar’s recent strength reflects massive inflows into US financial markets from overseas given the troubled economies most everywhere else. So we continue to recommend a Stay Home investment strategy for US investors. … How does the dollar’s strength affect corporate earnings? There’s no rule of thumb to go by, but with S&P 500 companies deriving about 40%-50% of their revenues and earnings from abroad, the impacts can be significant.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 18.
Markets
Dow Jumps 750 Points as Investors Take Hope From Earnings Reports | W
Strong Dollar Fuels Pullback in Commodity Markets | W
Central banks
Fed Officials Preparing to Lift Interest Rates by Another 0.75 Percentage Point | W
Energy
Exclusive: Russia seen restarting gas exports from Nord Stream 1 on schedule | R
Putin warns of Nord Stream 1 gas capacity cuts over equipment repairs | R
Vital Russian Gas Supplies to Europe Aren’t Expected to Restart, Says European Commission | W
Russia moves closer to cutting off gas as Gazprom declares force majeure on supplies | yahoo.com
Europe Fears a Long, Cold Winter if Russia Ends Supply of Natural Gas | W
ConocoPhillips CEO warns of oil supply shortages and price volatility | R
US
Diverging Jobs Data Raise Questions About Labor Market Health | W
China
Henry Kissinger Warns Biden Against Endless Confrontation Between US and China | B
Geopolitics & trade
Russia taking steps to annex Ukrainian territory, White House says | C
China Warns U.S. Against Nancy Pelosi Visit to Taiwan | W
Putin’s Trip to Tehran Aims to Boost Ties With Iran, Turkey | W
Putin forges ties with Iran's supreme leader in Tehran talks | R
Industries & companies
Cruise Lines: Shares of cruise lines jump after CDC ends Covid-19 program | C
Financials: CFPB to Push Banks to Cover More Payment-Services Scams | W
Home Builders: Home Building Slipped in June for Second Straight Month | W
Media: Netflix soothes Wall Street concerns with customer growth forecast | R
Tech: Google will once again test augmented reality glasses in public | C
Tech: Senate Moves Forward With $52 Billion in Semiconductor Funding for Chipmakers | B
Corporate finance
Google and Chevron invest in nuclear fusion startup TAE Technologies | C
Twitter-Musk Trial Set for October in Lawsuit Over Stalled $44 Billion Takeover | W
Climate
Heatwave: UK shatters record for its hottest day ever | C
Greek wildfire rages near Athens; homes, hospital evacuated | R
Biden to Tackle Climate Change During Visit to Former Coal Power Plant | W
Crypto
Cryptocurrency flowing into “mixers” hits an all-time high. Wanna guess why? | Ars Technica
Beyond markets
Covid: CDC approves Novavax vaccine for adults, shots available in coming weeks | C
As BA.5 Spreads, How Long Will a Prior Covid-19 Infection Protect You? | W
July 19 (Tuesday)
Latest Morning Briefing Executive Summary: More On Inflation
Consumer prices, wages, home prices, rent: They’ve all been surging northward at stunning rates. Today, we take a deep dive into the wage-price-rent spiral. … We examine recent rent data, how they’re measured, and the forces that drive them—such as the plummeting affordability of home purchasing. … Regarding wages, one measure suggests wage inflation may be moderating, while the other shows it is still very high. … We still expect inflation to moderate, led by nondurable and durable goods inflation. The risk is that the wage-price-rent spiral continues, forcing the Fed to trigger a recession—which always has brought inflation down in the past. (subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 18.
Markets
Stocks edge up, dollar dips as Fed hike expectations lessened | R
Stocks Lose Ground as Banks Give Quarterly Updates | W
Deserted Stock Market Shows It Can Swerve Any Way at Any Time | B
Wall Street Titans Warn of 3 Big Risks as Markets Flash Recession Warning | B
Energy
Exclusive: Russia's Gazprom tells European buyers gas supply halt beyond its control | R
Looming Gas Crunch Poses ‘Historic Test’ for Europe, IEA Says | W
Europe Fears Widespread Economic Fallout if Russian Gas Outage Drags On | W
Price cap on Russian oil could push oil to $140: Think tank IAGS | C
Global
Food security crisis could kill more people than Covid: Amadou Hott | C
Strong US Dollar, Trade Gap, Worse Inflation Globally | B
US
Diverging Jobs Data Raise Questions About Labor Market Health | W
Housing Boom Fades World-Wide as Interest Rates Climb | W
What Is the True Cost of Inflation? It’s Complicated. | W
2024 election: Gavin Newsom, Kamala Harris engage with donors | C
China
China U.S. debt holdings go under $1 trillion for 1st time in 12 years | C
China Weighs Mortgage Grace Period to Appease Angry Homebuyers | B
How China became ground zero for the auto chip shortage | R
Xi's Strict Covid Zero Policy in China Pushes Wealthy to Leave Country | B
Geopolitics & trade
U.S., allies cannot allow China to dominate raw materials, technologies - Yellen | R
Xi’s Beijing Invite Unanswered by Top Europe Leaders, SCMP Says | B
Industries & companies
Airlines: Air Travel Is Broken. Here’s Why. | W
Airlines: 1,000 bags. Zero passengers. Delta flight from Heathrow latest sign of air travel hell | NN
Consumer discretionary: Amazon faces probe by federal prosecutors, OSHA into warehouse safety | C
Media: Hulu Is Driving More Streaming Subscribers to Disney Than Marvel or Star Wars | W
Tech: TikTok owner ByteDance explores self-designed chips | C
Crypto
Crypto miners moved over $300 million of bitcoin in one day | C
Climate
Offshore drilling produces not just oil but fish — and lots of them | P
Europe suffers from deadly heat wave as wildfires displace thousands | C
Beyond markets
China Covid Cases Jump; Officials Say Still ‘Severe’ in Shanghai | B
Why BA.5 is good at dodging our immune systems, even if you’ve just had Covid-19 | Vox
July 18 (Monday)
Latest Morning Briefing Executive Summary: Bear Market Rally Or A New Bull Market?
What’s ahead for the stock market? That depends on the significance of the S&P 500’s June 16 low-to-date in the current bear market, of 3666. If that turns out to be the bear’s bottom—which sure would be freaky since the previous one was at S&P 500 666—then either a bull market or a sideways-drifting one is just ahead. Alternatively, deeper lows may be in store if the gain since June 16 was just a short-covering rally within a bear market (as the reversal in sector leadership suggests). … Today, we examine both the bull and bear scenarios, laying out the cases for each.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 11.
Markets
Stocks rose as Wall Street weighed fresh earnings and economic data | C
Earnings Season Off to Slow Start, Clouding the Outlook for Stocks | W
Earnings could be an even bigger catalyst for stocks after the market’s wild ride on rate fears | C
Strong Dollar Extends Gains With No End to Rally in Sight | W
Gas Crisis of the ’70s Holds Lessons for Today | B
Global
When Will Supply Chains Return to Normal | B
Central banks
The ECB’s masterplan to manipulate markets | E
Fed Officials Preparing to Lift Interest Rates by Another 0.75 Percentage Point | W
As Fed Tightens, Economists Worry It Will Go Too Far | W
Energy
Sanctions Exemption for Turbines Aims to Restart Russian Gas Flows to Europe | W
Plan to Cap Russian Oil Prices Faces Big Obstacle: Vladimir Putin | BR
US I
Even if GDP shrinks, America may officially avoid a downturn. For now | E
U.S. Retail Sales Rose 1% in June | W
Inflation Has Outpaced Wage Growth. Now It’s Cutting Into Spending. | W
Food Prices Rose in June. Here Are the Items With the Biggest Increases. | BR
What Is the True Cost of Inflation? It’s Complicated. | W
US II
All Jobs Businesses Cut in Pandemic Are Back, but Not Where They Were Lost | W
Democrats in America are realizing they must moderate or die | E
Sen. Joe Manchin Balks at Global Minimum Tax Championed by Biden | W
Europe
Europe is preparing for Russian gas to be cut off this winter | E
Europe’s winter of discontent | E
Japan
Japan should stay true to Abe Shinzo’s vision—up to a point | E
Abe Shinzo’s policies will live on, but may be enacted more slowly | E
Inflation Is Just What Japan Needs. Play It With These Funds. | BR
China
Xi Jinping’s Policies Backfire: China Is Pariah for Global Investors | B
Industries & companies
Airlines: Boeing Vows It Won’t Build ‘Gliders’ as Engine Shortage Expands | B
Restaurants: Customer service suffers at short-staffed restaurants as Covid takes toll | C
Tech: After a turbocharged boom, are chipmakers in for a supersize bust? | E
Climate
'Climate change affects everyone': Europe battles wildfires in intense heat | R
Beyond markets
Tech Savvy or Tech Addicted? Older Adults Are Stuck on Screens, Too | W
July 16 (Saturday)
Latest Morning Briefing Executive Summary: Europe Sans Gaz (ESG)
Russia’s not above weaponizing its natural gas supplies to European nations; it has already frozen out Denmark, Poland, Bulgaria, and Finland in retaliation for decisions Putin didn’t like. So does Russia’s recent close-down of Nord Stream 1 for “repairs” mean that the pipeline critical to heating Germany this winter won’t be reopening? Jackie looks at the potential for an energy crisis in Europe and how various nations might fare. … Also: China faces mountainous economic challenges of its own. … And: With electric vehicle prevalence forecast to skyrocket this decade, an important new industry is born—lithium battery recycling.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 11.
Markets
Stock Investors, After Brutal Stretch, Have Rarely Been This Pessimistic | W
World stocks rally, dollar dips as investors weigh spending data, inflation scares | R
Dow Closes Up More Than 650 Points on Retail Spending Data | W
Investors Pour Cash Into Higher-Yielding Fixed Annuities | W
The big default? The dozen countries in the danger zone | R
Chaos Is Becoming the Rational Base Case in Market Ruled by Fear | B
Central banks
Fed ‘Let Us Down Quite Badly’ and Still Unrealistic, Summers Says | B
US
U.S. Retail Sales Rose 1% in June | W
US Retail Sales June 2022: Value Rises 1%, Topping Forecasts in Broad Advance | B
[Diesel] is pushing up the price of almost everything you buy | NN
Black US Households Face Higher Inflation, Richmond Fed Says | B
The Housing Shortage Isn’t Just a Coastal Crisis Anymore | N
China
China’s Economic Comeback From Covid-19 Shutdowns Likely to Be Slow and Bumpy | W
China Is in Trouble, Even With Sliver of Growth | W
Europe
Mario Draghi Resignation Puts Italy’s Leadership in Flux | W
Europeans Are Working Even Less, and Not by Choice | W
Geopolitics & trade
Putin and Xi’s Bet on the Global South | W
Biden confronts Saudi crown prince over Khashoggi murder, expects action on energy | R
Ukraine strikes significantly reducing Russia's offensive potential, Kyiv says | R
U.S. Navy ship again sails near disputed S. China Sea islands | R
Industries & companies
Autos: Volkswagen to Keep Factory Running in China’s Xinjiang Region | W
Retail: Amazon Has Been Slashing Private-Label Selection Amid Weak Sales | W
Retail: Amazon Hits Pause on Office Construction in Tennessee, Washington State as Workers Go Hybrid | W
Beyond markets
Most of U.S. Population Now in Areas With High Covid-19 Levels as BA.5 Subvariant Spreads | W
How Covid screwed up our antibiotics | Vox
July 15 (Friday)
Latest Morning Briefing Executive Summary: Europe Sans Gaz (ESG)
Russia’s not above weaponizing its natural gas supplies to European nations; it has already frozen out Denmark, Poland, Bulgaria, and Finland in retaliation for decisions Putin didn’t like. So does Russia’s recent close-down of Nord Stream 1 for “repairs” mean that the pipeline critical to heating Germany this winter won’t be reopening? Jackie looks at the potential for an energy crisis in Europe and how various nations might fare. … Also: China faces mountainous economic challenges of its own. … And: With electric vehicle prevalence forecast to skyrocket this decade, an important new industry is born—lithium battery recycling.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 11.
Markets
Dow falls 100 points as Wall Street weighs more aggressive Fed, disappointing bank earnings | C
Bond Market Is Flashing a Recession Warning--Again | Morningstar
Euro Slips Below Dollar as Europe’s Economic Fortunes Slump | W
How to Invest During Inflation | N
Central banks
Central banks rapidly shift gears in bid to stem inflation tidal wave | R
All Crisis Scenarios Lead to Rome as ECB Starts Raising Interest Rates | B
Inflation jumped again in June. How bad is it and what will the Fed do next? | Vox
Fed’s James Bullard Favors 75 Basis-Point Rate Hike in July, Nikkei Reports | B
Fed Governor Waller expects 0.75 percentage point hike, but open to a larger one | C
Powell, Clarida cleared of wrongdoing in Fed trading controversy | C
Jamie Dimon rips Fed stress test as 'terrible way to run' financial system | C
US
JPMorgan CEO Dimon sums up U.S. economy in one paragraph — and it sounds bad | C
Producer Price Gains Accelerated in June | W
Biden Calls Inflation Numbers ‘Out of Date.’ Americans Disagree | B
Economists are predicting a recession but companies are still hiring | Vox
People Have Money but Feel Glum—What Does That Mean for Economy? | W
Will Home Prices Fall? Listings Rise for the First Time in Three Years | B
Mortgage Rates Rise Again After Recording Sharp Drop | W
How inflation can hurt and help consumers, according to economists | C
Europe
Italian Prime Minister Mario Draghi Says He Will Resign | W
'No, Mario', Italian president urges PM Draghi not to quit | R
Europe's Heat Wave Is Pushing Energy Prices Up and Clean Energy Out | B
German Economy Is ‘Moving Into Recession,’ Deutsche Bank Says | B
China
China Set to Post the Slowest Growth in Two Years on Zero-Covid Policy | W
China Property Market Shudders as Buyers Threaten to Stop Mortgage Payments | W
Industries & companies
Airlines: Airlines’ Challenge Is Cutting Costs, Not Filling Seats | N
Autos: GM and Pilot Plan National Electric-Vehicle Charging Network | W
Financials: Bank of America fined $225 million over unemployment benefits program | C
Beyond markets
Baby-Formula Shortage Deepens, Defying Replenishment Efforts | W
July 14 (Thursday)
Latest Morning Briefing Executive Summary: Europe Sans Gaz (ESG)
Russia’s not above weaponizing its natural gas supplies to European nations; it has already frozen out Denmark, Poland, Bulgaria, and Finland in retaliation for decisions Putin didn’t like. So does Russia’s recent close-down of Nord Stream 1 for “repairs” mean that the pipeline critical to heating Germany this winter won’t be reopening? Jackie looks at the potential for an energy crisis in Europe and how various nations might fare. … Also: China faces mountainous economic challenges of its own. … And: With electric vehicle prevalence forecast to skyrocket this decade, an important new industry is born—lithium battery recycling.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 11.
Markets
Stocks Decline as Inflation Accelerates | W
Municipal-Bond Issuers Fall Behind on Disclosures | W
Central banks
Inflation May Have Peaked, but the Fed Won’t Back Off | W
Hot inflation fuels bets on supersized Fed rate hike | R
Currency & commodities
Global Oil-Supply Crisis Shows Signs of Easing, IEA Says | W
Germany’s confounding climate move to opt for coal over nuclear power | Vox
Analysis: Euro is at parity; its fate is now with energy markets | R
Euro Hits Parity With U.S. Dollar for First Time in 20 Years | N
Yellen Pitches Russian-Oil Price Cap to Chinese Counterpart | W
US
Inflation rose 9.1% in June, even more than expected, as consumer pressures intensify | C
Inflation Soared in June, Pinching Consumers and Challenging Policymakers | N
U.S. Inflation Hits New Four-Decade High of 9.1% | W
The Inflation Tax on Workers | W
Gas Prices, a Big Inflation Factor, Are Coming Down Sharply | N
U.S. Economy Slows in Several Parts of the Country, Fed’s Beige Book Says | W
Beware Wishful Thinking About Inflation and Recession | W
Industries & companies
Autos: Americans are paying record-high prices for new vehicles | C
Financials: Bank Earnings Will Give Clues About Whether a Recession Is Looming | W
Media: Netflix partners with Microsoft on ad-supported subscription plan | C
Retail: Inflation: Clothes are expensive even as retailers try to clear inventory | C
Geopolitics & trade
Breakthrough at Ukraine grain export talks as heavy shelling continues | R
U.S. successfully tests pair of Lockheed hypersonic missiles | R
Beyond markets
Is the World Really Falling Apart, or Does It Just Feel That Way? | N
July 13 (Wednesday)
Latest Morning Briefing Executive Summary: Earnings, Inflation & Europe
Industry analysts are starting to lower their earnings estimates for some of the companies they follow. They aren’t doing so because they suddenly see an imminent recession but rather profit margins getting squeezed. …We don’t expect this morning’s June CPI release to show a peaking of inflation just yet. July’s CPI should do so. We see inflation moderating during the second half of this year and further in 2023. … Also: A peek into the world of Europe’s credit markets. These markets have been buffeted lately, first by the ECB’s hawkishness, then by its reassurances of help for the most indebted of the Eurozone’s nations.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 11.
Markets
Stocks, Oil Fall on Growth Concerns | W
China Stocks Hit Fresh Turbulence, Casting Doubt Over Recent Rebound | W
Dividend Payouts Hit Record Despite Rocky Stretch in Markets | W
Ackman to Close $4 Billion SPAC | W
Currency & commodities
Markets Plan Doomsday Scenarios If Russia Stops Gas Supply to Europe | B
Euro reaches parity against dollar, hits lowest level since 2002 | C
OPEC’s First 2023 Outlook Shows No Relief for Oil Market Squeeze | B
US
IMF Cuts Month-Old Forecast for US GDP, Citing Inflation Risks | B
Inflation is expected to be hotter in June, but a peak may be showing | C
New York Fed Survey Finds Long-Term Inflation Expectations Falling | W
Housing Could Provide More Fuel for Inflation | W
Maybe the answer to $5 gas is higher pay | The Hill
Europe
Eight candidates make cut in race to succeed UK PM Johnson | R
Geopolitics & trade
Switzerland, Playground of Russian Oligarchs, Emerges as Sanctions Weak Link | W
Biden’s Woes at Home Loom Over Mideast Trip That’s All About Oil | B
Beyond markets
Covid: Hospitalizations have doubled since May as omicron BA.5 sweeps U.S. | C
July 12 (Tuesday)
Latest Morning Briefing Executive Summary: Thumbs Up or Down For Q2 Earnings?
Ready for the earnings season? Investors have been fearing a recession since this year began, as depressed stock valuations attest, while industry analysts have catapulted their earnings and revenues estimates to record highs. There’s certainly no recession evident in forward revenues or forward earnings. … We think Q2 earnings calls will be full of examples of inflation boosting companies’ results and the Fed’s response to inflation not yet depressing them. However, the strong dollar and weaker global economic growth will weigh on earnings. Today, we provide a sector-specific rundown of issues that we expect to hear a lot about on Q2 earnings calls.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 5.
Markets
U.S. Stocks End Lower Ahead of Inflation Data, Earnings Season | W
Global shares decline, bond yields slide and dollar rallies amid inflation fears | R
Global Investors Dump Bonds of Chinese Banks That Lent Heavily to Russia | W
Central banks
Those Predicting a ‘Fed-Induced Recession’ Misunderstand the Meaning of Recession | FO
US
Most Democrats want Biden not to run for president in 2024 | C
Biden's bombed with business, and there's panic in the C-suite | P
Donald Trump and the Midterms | W
Democratic-Led States Let Their Federal Unemployment Debts Linger | W
Homebuyers are canceling deals at highest rate since start of Covid | C
Europe
Europe fears extended shutdown as Russia halts gas flows to Germany | C
Chip Giants to Build Factory in France as Global Supply Race Rolls On | W
UK inflation still likely to fall sharply next year, BoE's Bailey says | R
Emerging
Chile currency plunge, inflation rattle Latin America's copper king | R
Geopolitics & trade
Chinese Communist Cells in Western Firms? | W
Global Tax Talks Hit Another Delay | W
Industries & companies
Media: Moviegoers are leaving their couches for theaters, bringing summer box office sales close to pre-pandemic levels | C
Retail: Amazon's smart grocery carts are coming to some Whole Foods stores | C
Retail: Nobody likes self-checkout. Here's why it's everywhere | NN
Climate
Farmers are making thousands of dollars from carbon credits | C
Texans Are Asked to Conserve Power as Extreme Heat Threatens Electric Grid | W
Technology
Miners Are Relying More on Robots. Now They Need Workers to Operate Them. | W
Corporate finance
Hiltzik: Musk wants out of his Twitter deal, no surprise there | LA Times
Beyond markets
First Full-Color Image From NASA’s James Webb Space Telescope Unveiled by Biden | W
Omicron Strains Drive New Covid Wave in Europe as Measures Fall Away | W
July 11 (Monday)
Latest Morning Briefing Executive Summary: Reassessing the ‘Banana’ Scenario
Is a recession imminent? Is it here already? How big an impact will it have, if it comes, when it comes? The dreaded “R” word has everyone in a tither, and so does the weakness in the LEI. But the CEI suggests everything’s just fine. We recap the latest economic releases and how they’ve led us to the subjective probabilities we assign to four alternative economic scenarios. … We also assess how well peaks in the S&P 500 presage recessions. ... And: The stock market may have hit its bear bottom already according to the Da Vinci Code, if inflation is peaking and that tempers the Fed’s hawkishness. Also: Dr. Ed reviews “Staircase” (+ +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 5.
Markets
The Stock Market Faces Next Test as Inflation Looms Over Earnings Season | W
Premarket stocks: Inflation and markets have a complicated relationship | NN
Dividend Stocks Can Help During Recession. Here’s What to Look For. | BR
Central banks
For the Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s | W
Global
Sri Lanka Crisis Flashes Warning for Other Indebted Economies | W
Europe
Manufacturers Brace for Nord Stream Repairs, Fearing Pipeline Won’t Reopen | W
France’s President Emmanuel Macron decides to go it alone | E
Japan
Shinzo Abe’s Goal of Revising Japan’s Constitution Moves Closer After LDP Election Victory | W
China
China factories are feeling some heat as U.S., Europe demand slows | C
Fed Up With China, One Boss Tries Removing It From the Supply Chain | W
Geopolitics & trade
Polish-German relations have gone sour | E
Ukraine War Pushes Millions of the World’s Poorest Toward Starvation | W
Industries & companies
Energy: Exxon Mobil’s Darren Woods: Barron’s Top CEOs 2022 | BR
Media: Box office: 'Thor: Love and Thunder' has $143 million domestic opening | C
Pharma: Pfizer’s Albert Bourla: Barron’s Top CEOs 2022 | BR
Retail: Amazon Prime Day 2022: Why deal experts say you might want to skip it | C
Retail: Nordstrom’s Erik Nordstrom: Barron’s Top CEOs 2022 | BR
Beyond markets
Brazil party official shot dead as pre-election political violence escalates | R
Abe killer wielded homemade gun, grudge over mother's financial ruin | C
July 09 (Saturday)
Latest Morning Briefing Executive Summary: China, Earnings & Batteries
China’s stock market has enjoyed a nice bounce this year as President Xi’s policies have grown more business friendly as the Chinese Communist Party meeting approaches. We remain concerned about the heavy debt loads forcing Chinese real estate development companies to restructure. We’re also watching Covid cases and Chinese exports to the slowing US and European economies. … We also take a look at which industries’ consensus earnings have been revised down by analysts so far this year. … Electric vehicles may emit less CO2 than internal combustion engines, but manufacturing and disposing of lithium batteries is an awfully dirty business.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 5.
Markets
Dow, S&P 500 Slip as Jobs Growth Remains Strong | W
What Smart Investors Do in Bear Markets | W
How to Invest for Retirement During a Bear Market | N
Nasdaq rises for fifth-straight day after strong jobs report as Wall Street notches winning week | C
Commodities & currency
Gas Prices Have Fallen for 24 Straight Days. The Relief Might Only Be Temporary. | W
The One Commodity That Won’t Stop Soaring | OilPrice.com
What's the Impact of the Strong Dollar on My Portfolio? | Morningstar
How Low Can the Euro Go? | W
Food Prices Squeeze Poorest in Rich Countries | W
Central banks
Jobs Report Could Keep Fed on Track for 0.75-Point Rate Rise in July | W
Eurozone Banks Fail to Factor In Climate Risks, ECB Says | W
US
U.S. Added 372,000 Jobs in June | W
Here's where the jobs are for June 2022 — in one chart | C
Involuntary part-time worker numbers dip to lowest level in 21 years | C
Big payroll gains push recession fears into the corner — for now | C
The Economy Could Have a Long Case of Long Covid | W
Housing-Affordability Index Drops to Lowest Level Since 2006 | W
Japan
Japan's former PM Shinzo Abe assassinated at campaign event | C
Geopolitics & trade
Why tensions between China and Taiwan are on the rise | C
U.S. to send 15th military package to Ukraine, bringing total aid in Russia war to $7 billion | C
U.S., Chinese foreign ministers hold first talks since October | R
Fitch downgrades Turkey's debt rating to 'B' from 'B+' | R
Corporate finance
Elon Musk notifies Twitter he is terminating deal | C
Crypto
Fed's Brainard says crypto needs regulation before it becomes too big | C
Bitcoin heads toward best week since October as crypto collapse stabilizes | C
July 08 (Friday)
Latest Morning Briefing Executive Summary: China, Earnings & Batteries
China’s stock market has enjoyed a nice bounce this year as President Xi’s policies have grown more business friendly as the Chinese Communist Party meeting approaches. We remain concerned about the heavy debt loads forcing Chinese real estate development companies to restructure. We’re also watching Covid cases and Chinese exports to the slowing US and European economies. … We also take a look at which industries’ consensus earnings have been revised down by analysts so far this year. … Electric vehicles may emit less CO2 than internal combustion engines, but manufacturing and disposing of lithium batteries is an awfully dirty business.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 5.
Markets
Stocks Close Higher as Investors Parse Economic Data | W
Gasoline futures are dropping, which could mean more relief at the pump | C
Central banks
Fed officials Waller and Bullard back another big interest rate increase in July | C
US
Mortgage Rates Fall to 5.30%, Reflecting Recession Fears | W
San Francisco Home Prices Start to Fall as Headwinds Mount | B
Big Cities Can’t Get Workers Back to the Office | W
Working Parents Are Having a Rough Summer. Some Co-Workers Don’t Want to Hear About It. | W
Ron DeSantis plans Utah fundraiser with GOP megadonors, signaling possible presidential run | C
Even managers are quitting their jobs and joining the Great Resignation | Vox
Europe
Boris Johnson Resigns Amid Scandals but Says He Will Remain U.K.’s Prime Minister Until Successor Is Found | W
UK Labor Demand Grows at Slowest Pace in 16 Months, REC Says | B
Industries & companies
Retail: Walmart won't hold rival event to Amazon Prime Day | C
Corporate finance
Spirit again delays vote on Frontier deal to continue deal talks with budget airline and JetBlue | C
Technology
3-D Printing Grows Beyond Its Novelty Roots | N
Crypto
Crypto Tumult Highlights Lack of Investor Protections | W
July 07 (Thursday)
Latest Morning Briefing Executive Summary: China, Earnings & Batteries
China’s stock market has enjoyed a nice bounce this year as President Xi’s policies have grown more business friendly as the Chinese Communist Party meeting approaches. We remain concerned about the heavy debt loads forcing Chinese real estate development companies to restructure. We’re also watching Covid cases and Chinese exports to the slowing US and European economies. … We also take a look at which industries’ consensus earnings have been revised down by analysts so far this year. … Electric vehicles may emit less CO2 than internal combustion engines, but manufacturing and disposing of lithium batteries is an awfully dirty business.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 5.
Markets
Stock Markets Inch Higher as Investors Study Fed Minutes | W
Treasury yields jump as Fed hints at another big hike at next meeting | C
Central banks
Fed Saw ‘More Restrictive’ Rates Possible If Inflation Persists | B
Japan could be about to surprise markets with monetary policy | C
Global
IMF chief says 'cannot rule out' possible global recession | R
World hunger rising as U.N. agencies warn of "looming catastrophe" | R
US
Inflation Fears Drove Larger Fed Rate Increase in June | W
Hot job market and Great Resignation persist despite recession threat | C
Hiring Demand Remained Strong in May | W
Cheap Rent? Here's Where Apartment Market Is Starting to Cool Off | B
That Fancy University Course? It Might Actually Come From an Education Company. | W
Europe
France’s Macron Confronts Divided Parliament With Plan to Raise Retirement Age | W
Japan
Japan's Kishida hopes to put stamp on premiership in upper house polls | R
Geopolitics & trade
China Escalates Efforts to Influence U.S. State and Local Leaders, Officials Warn | W
N.Korea's Kim convenes conference for strengthening 'monolithic' party rule | R
Industries & companies
Airlines: American Airlines pilots get triple pay for trips dropped in scheduling glitch | C
Autos: GM reports worst sales in China since onset of Covid-19 lockdowns | C
Consumer Discretionary: Amazon and Grubhub Strike Deal to Bring Restaurant Delivery to Prime Members | W
Media: Hulu faces existential crisis as Disney decides how to move forward | C
Media: Big Hollywood movies are being made with Chinese audiences in mind - Vox
Tech: Apple iPhone Lockdown Mode is meant to stop state-sponsored hacking | C
Beyond markets
FDA Will Help Overseas Baby-Formula Makers Keep Selling in U.S. Beyond Shortages | W
Covid-19 Vaccine Doses, Once in High Demand, Now Thrown Away | W
July 06 (Wednesday)
Latest Morning Briefing Executive Summary: A Recession: To Be or Not To Be?
The latest batch of leading economic indicators suggests weaker coincident indicators to come. As a result, we’re raising our odds of a shallow, short-lived recession in the US economy to 55% (from 45%). That makes a recession now our base-case scenario from which we derive our earnings and stock market forecasts. … Higher recession odds lower our expectations for what S&P 500 companies will earn, what investors will pay for their stocks, and where the S&P 500 price index may stand at year-ends 2022 and 2023. … Also: Melissa looks at the factors contributing to global food inflation and the regions most vulnerable to food shortages.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on July 5.
Markets I
Stocks Finish Mixed Amid Worry About Slowing Economic Growth | W
H2 market outlook: Strategists on how to weather the market storm | C
Bonds flash recession warning light as key part of the yield curve inverts again | C
Markets II
Explainer: U.S. yield curve inverts again: What is it telling us? | R
Oil tumbles as much as 10%, breaks below $100 as recession fears mount | C
Euro slides to 20-year low against the dollar as recession fears build | C
Central banks
Why Consumers’ Inflation Psychology Is Stoking Anxiety at the Fed | W
Accelerating Inflation in Asia Puts Pressure on Central Banks to Raise Rates | W
US
If the U.S. Is in a Recession, It’s a Very Strange One | W
Bosses Offer Midyear Raises to Retain Employees as Inflation Takes Toll | W
Americans Tap Pandemic Savings to Cope With Inflation | W
Biden still weighing China tariff options as requests to keep them pile up | R
Red States Are Winning the Post-Pandemic Economy | W
China
China’s Housing Market Pain Set to Continue After Sales Bottom | B
China’s $1.2 Trillion Wealth Fund Loses Two Directors Adding to Exodus | B
Japan
Analysis: Inflation, not deflation, is now Japan's political hot potato as election looms | R
Industries & companies
Media: Why 'Minions' beat 'Lightyear' at the box office | C
Retail: Walmart Tells Suppliers New Fuel and Pickup Fees Are Coming | W
Corporate finance
Global Corporate Debt Burden Declines as Costs Surge Amid Recession Fears | B
July 05 (Tuesday)
Latest Morning Briefing Executive Summary: The Second Half of 2022
The US economy is probably heading into a mild recession, recent indicators suggest. We now see real GDP contracting by 1.9% this year. … The good news: The recession should be over next year and should slow the rate of inflation in H2-2022 and 2023. The sooner the business cycle bottoms, the sooner the stock market will. … Analysts will be getting the recession memo shortly and cutting their estimates accordingly. We’re doing so now, lowering our earnings estimates for S&P 500 companies this year and next.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 27.
Markets
Markets Had a Terrible First Half of 2022. It Can Get Worse. | W
The Best Income Investments Now | BR
Falling Commodity Prices Raise Hopes That Inflation Has Peaked | W
Coal Makes a Comeback as the World Thirsts for Energy | W
Global
China’s Slowdown Could Tamp Down Global Inflation | W
Commodities
How Food Became Putin’s New Strategic Weapon | W
Ukraine says Russian ship carrying Ukrainian grain detained by Turkey | R
No guarantees Swiss will always have enough gas, minister says | R
Production at Venezuela's largest refinery hit by blackout | R
US
If the U.S. Is in a Recession, It’s a Very Strange One | W
Millennials Were Optimistic About Their Financial Future—but Now, Not So Much | W
Americans Have Had It With Inflation | W
Bezos slams Biden's call for gasoline stations to cut prices | C
Europe
Fresh faces on the far right and left fill France’s parliament | E
Chancellor Olaf Scholz takes taciturnity to new levels | E
Ukraine War Hits Germany With First Trade Deficit in Over Three Decades | W
China
Some Chinese want their country to move closer to communism | E
Geopolitics & trade
Russia says its forces now have full control of east Ukraine region | C
Ukraine war: How would a G-7 price cap on Russian oil work? | C
The Quad expands beyond naval military exercises — and China watches | C
NATO holds its most important summit for decades | E
How to win Ukraine’s long war | E
Industries & companies
Airlines: U.S. flight disruptions finally ease as the holiday weekend winds down | C
Airlines: American Airlines scheduling glitch allows pilots to drop thousands of July flights | C
Airlines: Air New Zealand: Beds in economy class on airplanes by 2024 | C
Autos: German road traffic agency says 59,000 Tesla vehicles have software glitch | C
Autos: AutoZone and 3 Other Auto Parts Stocks That Look Like Buys | BR
Media: Minions: Rise of Gru domestic box office opening tops $108 million | C
Pharma: Merck Covid-19 Pill Prescribed Frequently in Some Countries Despite Low Efficacy | W
Retail: Glut of Goods at Target, Walmart Is a Boon for Liquidators | W
Tech: Chip Boom Loses Steam on Slowing PC Sales, Crypto Rout | W
Corporate finance
As interest rates climb and the economy cools, can companies pay their debts? | E
Investment Banks Prepare for Lean Times as Deal Spree Sputters | W
Crypto
Crypto Took Wall Street on a Wild Ride. Now It’s Ending in Tears. | BR
July 02 (Saturday)
Latest Morning Briefing Executive Summary: Health Care, Finance & Batteries
The S&P 500’s Health Care sector is pumped: It has outperformed most other sectors ytd and is tied for first place (with Utilities) measured since the S&P 500’s recent low on June 16. Jackie parses the opportunity, examining the investment pros and cons of the sector overall and of specific industries and companies within it. … Also: Which fintechs deserve master accounts with access to the Fed’s payments system? A couple of recent controversies put that question front and center as the Fed works on rules to govern the process of granting master accounts. … And: A look at where Tesla is going with its battery technology.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 27.
Markets
Stocks rally to end the first day of the second half, Dow jumps 300 points | C
U.S. Stocks Finish Higher After Worst Start to Year in Decades | W
Opinion: Stocks could drop 50%, Nouriel Roubini argues. Things will get much worse before they get better. | MW
Energy & climate
JPMorgan Sees Oil at $380 on Worst-Case Cut by Russia | B
Exxon signals operating profits could double over the first quarter | R
Biden Proposes New Offshore Drilling Leases | B
India bans single-use plastic to combat pollution | R
Central banks
Eurozone Inflation Hits New High, Pressuring ECB to Raise Key Rate More Forcefully | W
US
Atlanta Fed GDP tracker shows the U.S. economy is likely in a recession | C
Cooling Demand for Goods Threatens to Turn Pandemic Boom Into Bust | W
Will Home Prices Fall? Sudden Housing Turn Has Sellers Paring Expectations | B
Gas Prices Force Many to Rethink Driving, and Spending | N
China
Wuhan Sees Virus Return Days After Xi Reinforces Covid Zero in China | B
China’s Xi Jinping Says Hong Kong’s Loyalty to Beijing Will Ensure Prosperous Future | W
Geopolitics & trade
Exclusive: Ukraine requests Turkey detain Russian-flagged ship it says carrying Ukrainian grain | R
Chinese company's purchase of North Dakota farmland raises U.S. security concerns | C
U.S.-China Competition Zeroes In on Growth | W
TikTok tells U.S. lawmakers it's working to protect user data | C
There's a massive pile-up of car, furniture exports bound for US | C
Industries & companies
Autos: GM Says Unfinished Cars to Hurt Quarterly Results | W
Beyond markets
How America’s Summer Vacation Came Back Stronger Than Ever | W
July 01 (Friday)
Latest Morning Briefing Executive Summary: Health Care, Finance & Batteries
The S&P 500’s Health Care sector is pumped: It has outperformed most other sectors ytd and is tied for first place (with Utilities) measured since the S&P 500’s recent low on June 16. Jackie parses the opportunity, examining the investment pros and cons of the sector overall and of specific industries and companies within it. … Also: Which fintechs deserve master accounts with access to the Fed’s payments system? A couple of recent controversies put that question front and center as the Fed works on rules to govern the process of granting master accounts. … And: A look at where Tesla is going with its battery technology.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 27.
Markets
Stocks fall, S&P 500 posts worst first half in decades | C
Markets Post Worst First Half of a Year in Decades | W
Treasury Bonds Rally at End of Second Quarter | W
Energy & climate
Natural gas drops 16%, posts worst month in more than three years | C
U.S. natgas plunge 17% as Freeport LNG outage leaves more fuel for storage | R
Supreme Court limits EPA authority to set power plant climate standards | C
Shiploads of Russian Grain and Good Weather Temper Wheat Crisis | W
Central banks
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs | C
U.S. inflation data offer no quick relief to Fed, but hint at a peak | R
EXCLUSIVE ECB to channel cash from north to south in bid to cap spreads - sources | R
US
U.S. employers see signs of cooling job market | R
Cooling Consumer Spending Points to Further Economic Slowdown | W
New Fed Tracker Shows Rising Strains in Corporate Debt | W
Housing shortage starts easing as listings surge in June | C
Mortgage Rates Drop After Three Weeks of Increases | W
Economic Growth, Not Austerity, Is the Answer to Inflation | W
China
China’s Economy Returns to Growth Mode as Covid-19 Lockdowns Lift | W
Xi Jinping Visits Hong Kong to Mark Anniversary, Capping Crushing of Dissent | W
Geopolitics & trade
U.S. to Support Ukraine for ‘As Long as It Takes,’ Biden Says | W
Why Does China Own So Much of Ukraine? | W
Why blood makes up over 2.5% of all U.S. exports | C
Technology
FCC approves SpaceX Starlink service to vehicles, boats, planes | C
Virus
FDA backs changing Covid boosters to target recent omicron subvariants | C
Crypto
EU agrees to deal on landmark MiCA cryptocurrency regulation | C
FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale, source says | C
June 30 (Thursday)
Latest Morning Briefing Executive Summary: Health Care, Finance & Batteries
The S&P 500’s Health Care sector is pumped: It has outperformed most other sectors ytd and is tied for first place (with Utilities) measured since the S&P 500’s recent low on June 16. Jackie parses the opportunity, examining the investment pros and cons of the sector overall and of specific industries and companies within it. … Also: Which fintechs deserve master accounts with access to the Fed’s payments system? A couple of recent controversies put that question front and center as the Fed works on rules to govern the process of granting master accounts. … And: A look at where Tesla is going with its battery technology.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 27.
Markets
S&P 500 limps to slightly lower close as quarter-end looms | R
Dow rises modestly in volatile trading as Wall Street struggles to recover | C
U.S. Stocks Little Changed as Quarter’s End Nears | W
CEO Stock Sales Raise Questions About Insider Trading | W
Central banks
Powell Says Fed Must Accept Higher Recession Risk to Combat Inflation | W
Powell vows to prevent inflation from taking hold for the long run | C
Loretta Mester Says Fed Is on Track for 0.75-Point July Rate Hike | W
Global
Pressures of big government spending offer little good news for world economy | Washington Times
US
U.S. GDP’s Early 2022 Dip Was Bigger Than Previously Thought | W
Companies cut spending, jobs as outlook grows less certain | R
Opinion: Why so many workers are still quitting their jobs | NN
U.S. Agrees to Pay $3.2 Billion for More Pfizer Covid Vaccines | W
Geopolitics & trade
EXCLUSIVE EU nears compromise deal to defuse standoff with Russia over Kaliningrad | R
U.S. to boost military presence in Europe as NATO bolsters its eastern flank | R
NATO deal between Turkey, Sweden and Finland brings wins for Erdogan | C
Gas Prices Test American Appetite for New Cold War With Russia | W
Venezuela's second largest refinery suspends gasoline production -sources | R
Industries & companies
Airlines: Frontier, JetBlue battle over Spirit Airlines goes down to the wire with competing bids | C
Retail: Retail Workers Increasingly Fear for Their Safety | N
Tech: Why companies like Stripe, Meta and Alphabet are behind carbon removal | C
Tech: Tech Giants Pour Billions Into AI, but Hype Doesn’t Always Match Reality | W
Tech: FCC Member Calls On Apple, Google to Banish TikTok | W
Technology
Robots are here but they still can't do much | C
Crypto
Crypto Hedge Fund Three Arrows Ordered by Court to Liquidate | W
CoinFlex CEO: Unlikely to resume withdrawals Thursday | C
Behind the Celsius Sales Pitch Was a Crypto Firm Built on Risk | W
June 29 (Wednesday)
Latest Morning Briefing Executive Summary: Relative Valuation & Dalio’s Big Short
Around the world, as inflation concerns, interest rates, and recession fears have risen, stock market valuations have fallen. They’ll fall further if recessions actually materialize. Against this backdrop, we examine how the valuations of various indexes have fared relative to one another. … Also: For Europe, recession appears particularly likely given a brewing energy crisis, as Russia has been choking off natural gas supplies. Melissa assesses the ramifications for European households and businesses. … And: The ECB’s hawkish turn has hurt most EMU MSCI sectors’ valuations; we take a look at the deterioration relative to analysts’ still-strong earnings and margin expectations.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 27.
Markets
Dow falls 400 points as momentum from bear market bounce fizzles | C
Wall Street tumbles as consumer data fuels recession worries | R
Central banks
Fed officials promise rate hikes, push back on recession fears | R
Fed’s Williams Sees Another Large Rate Rise at July Meeting as Possible | W
New York Fed President John Williams says a U.S. recession is not his base case | C
Climate & food
War, Weather Endanger Global Food Supplies, Farm Leaders Say | W
US
Who Is to Blame for Inflation, 1-15 | Ritholtz
Consumers’ Outlook on the Economy Hits Lowest Point in Nearly a Decade | W
Home-Price Growth Slowed in April | W
The OECD’s global minimum tax rate will cost US companies | The Hill
Emerging
Default Won’t Trigger a Long Winter for Russia | W
Geopolitics & trade
Norway helping plug Europe oil gap as Russian barrels head east | R
Russia’s Mall Bombing Strategy | W
U.S. accuses five firms in China of supporting Russia's military | R
G-7 Summit Exposes West’s Challenges in Tackling Russia | W
U.S., Iran Gather for Indirect Talks on Nuclear-Deal Revival | W
NATO reaches deal with Turkey to admit Sweden and Finland, Stoltenberg says | C
Industries & companies
Energy: U.S. Shale Drillers Begin Re-Fracking Existing Wells | yahoo.com
Technology
DroneSeed uses swarms of drones to reseed forests after wildfires | C
June 28 (Tuesday)
Latest Morning Briefing Executive Summary: Right & Wrong Tracks
This year’s first half has been treacherous for most investors; what will the second half bring? Today, we take stock of what’s going right for the economy and financial markets—and may be bullish over the rest of the year—and what could prolong the bearish pain. … Among the bullish: sentiment indicators’ contrarian buy signals, super-low joblessness, strong bank balance sheets, the “CFO Put,” and (counterintuitively) the Fed’s QT. … The main bearish scenario is a familiar fear: Inflation proves so intractable that the Fed tightens to the point of recession, which sets off a credit crunch. And that’s not all that could morph bearish.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 27.
Markets
S&P 500 falls as stocks struggle to maintain their comeback from bear market lows | C
SPACs wipe out half of their value as investors lose appetite for risky growth stocks | C
Commodities
Russian Gas Cuts Threaten World’s Largest Chemicals Hub | W
'Off the charts' chemical shortages hit U.S. farms | R
Central banks
Central Banks Should Raise Rates Sharply or Risk High-Inflation Era, BIS Warns | W
US
How Much Wil July 4 Barbecue Cost? Beef, Chicken Prices Soar More Than Inflation | B
Big-Ticket Goods Orders, Pending Home Sales Point to Steady Demand | W
Pending home sales post surprise increase in May | C
Hottest US Housing Markets Now Have Bigger Share of Price Cuts | B
Bidding Wars Overheated the Home-Buyer Market, Now They’re Coming for Renters | W
Emerging
Shanghai Has Reopened, but Not Disneyland | W
Russia slides into historic debt default as payment period expires | C
Sanctions Push Russia to First Foreign Default Since Bolshevik Revolution | W
Industries & companies
Airlines: Airlines cancel over 700 U.S. flights as labor crunch, bad weather weigh | R
Consumer Discretionary: Amazon plans second Prime shopping event in Q4 | C
Tech: Action to break up ‘Big Tech’ will mean price hikes | The Hill
Crypto
Crypto fund defaults on $670M loan, and Bitfury CEO says prices aren't 'relevant': CNBC Crypto World
Beyond markets
Bee Hive Wipeout Is Crimping Harvests as Crisis Enters New Stage | B
June 27 (Monday)
Latest Morning Briefing Executive Summary: Green Bad Deal
The best laid plans of climate activists have gone majorly awry: Soaring fossil fuel prices haven’t increased demand for and supply of “clean” energy sources, as they’d expected, while demand for fossil fuels exceeds supplies. And activists’ pressure on European governments to suppress production of fossil fuels has really backfired, creating an unholy dependence on Russian oil with dangerous geopolitical ramifications. As a result, fossil fuel sources are making a remarkable comeback. … Also: US analysts still haven’t gotten the recession memo, blithely raising estimates even though investors and managements alike are girding for the worst. Even analysts overseas have on rose-colored glasses, particularly in Europe where the risk of a recession is rising as energy shortages worsen.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 21.
Markets
Stocks gain sharply for day and week, while copper falls further | R
What Do You Call the Market’s Cheapest Stocks? Bargains. | BR
Value Investors Bet Recent Market Leadership Is Just the Start | W
How an Income Fund Makes Stocks Safer With High-Yield Bonds | BR
Central banks
Central Banks Should Raise Rates Sharply or Risk High-Inflation Era, BIS Warns | W
How fighting inflation could imperil the euro zone | E
The Bank of Japan v the markets | E
Energy
Europe Turns to an Unlikely Source to Replace Russian Energy: Ukraine | W
US
Consumer Sentiment at Record Low Is Another Ominous Sign for Economy | W
Europe
Briefly united by Ukraine, Europe faces divisions on the home front | E
Op-ed: The EU’s rewiring due to the war in Ukraine is game-changing, if it doesn’t short-circuit before the job is done | C
China
China’s crackdown on the fun industry continues | E
Geopolitics & trade
G-7 nations to announce import ban on Russian gold as Moscow sanctions widen | C
British PM Boris Johnson warns Russian takeover of Ukraine would be ‘absolutely catastrophic’ for the world | C
Industries & companies
Airlines: United Airlines Stock Has Slumped. Director Edward Shapiro Bought Up Shares. | BR
Autos: Carvana Sought to Disrupt Auto Sales. It Delivered Undriveable Cars. | BR
Autos: Tesla, Ford and GM Raise EV Prices as Costs, Demand Grow | W
Consumer Discretionary: Amazon’s Prime Day Isn’t Quite the Blockbuster It Once Was | W
Pharma: Pfizer’s Omicron-Targeting Covid-19 Vaccines Generate Stronger Immune Response | W
Retail: Buy Starbucks Stock. The Coffee Giant’s Worst Problems Are Behind It. | BR
Tech: Recruiters say the tech job market is still red-hot, despite isolated layoffs and cautious words from execs | C
Climate & Sustainability
Electrifying everything does not solve the climate crisis, but it is a great start | E
Beyond markets
World Health Organization says monkeypox is not a global health emergency right now | C
June 25 (Saturday)
Latest Morning Briefing Executive Summary: Energy, EVs & Crypto
The price of oil has begun to come down. But countervailing forces are exerting both downward and upward pressure on oil prices. Among the former, production has ramped up greatly. Jackie examines the dynamics affecting oil industry pricing. … And: Electric vehicles are gaining traction in the marketplace. But they’re costing more to make with commodity prices so high and costing more to buy with manufacturers passing their cost increases onto consumers. … Also: Many of the many cryptocurrency players are bound to succumb to hypothermia during the brutal industry contraction dubbed “crypto winter.”
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 21.
Markets
Dow rallies 800 points on Friday to cap big comeback week for stocks | C
Energy
Breakingviews: Germany’s gas action plan pulls its punches | R
Germany looking at repurposing unused Nord Stream 2 pipeline for LNG use, report says | R
Central banks
Jerome Powell Takes a Pounding | W
Fed Confronts a ‘New World’ of Inflation | N
US
U.S. new home sales rebound in May; consumer sentiment at record low | R
Consumer sentiment survey followed by the Fed shows inflation expectations ease slightly | C
The Strange Art of Asking People How Much Inflation They Expect | W
Europe
Europe’s Workers Brace for Tough Times as Real Wages Fall | W
Geopolitics & trade
Ukrainian Troops Retreat From Severodonetsk After Weeks of Brutal Battle | W
Industries & companies
Financials: Passing Grades Aren’t Enough on Banks’ Stress Test | W
Tech: Lawmakers Want FTC to Investigate Apple, Google Over Mobile Tracking | W
Beyond markets
Supreme Court Overturns Roe v. Wade, Eliminates Constitutional Right to Abortion | W
June 24 (Friday)
Latest Morning Briefing Executive Summary: Energy, EVs & Crypto
The price of oil has begun to come down. But countervailing forces are exerting both downward and upward pressure on oil prices. Among the former, production has ramped up greatly. Jackie examines the dynamics affecting oil industry pricing. … And: Electric vehicles are gaining traction in the marketplace. But they’re costing more to make with commodity prices so high and costing more to buy with manufacturers passing their cost increases onto consumers. … Also: Many of the many cryptocurrency players are bound to succumb to hypothermia during the brutal industry contraction dubbed “crypto winter.”
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 21.
Markets
Stocks Close Higher After Fed Chairman Testifies | W
Central banks
Jerome Powell Pressed Over How Fed Would Respond to Economic Slowdown | W
Fed Official Calls for Additional Significant Rate Rises | W
Fed says U.S. banks can weather severe downturn comfortably | R
Energy & sustainability
IEA chief warns Europe to prepare for total shutdown of Russian gas exports | FT
U.S. Gas Sales to China Dry Up as Ukraine War Disrupts Energy Trade | W
Column: Diesel demand set to drop as economies enter recession | R
Nuclear Power Is Poised for a Comeback. The Problem Is Building the Reactors. | W
Column: Green hydrogen may be energy's future, but it's complicated | R
Joe Biden lowering gas prices is as likely as a purple cow on the moon | P
Global
U.S., European Economies Slow Sharply as Recession Risks Grow | W
US
Is Inflation About to Cause a Recession? | N
U.S. business borrowing for equipment rises 16% in May - ELFA | R
The dream of owning a home is out of reach for 4 million Americans | NN
Mortgage Rates Continue to Rise, Hitting 5.81% | W
Supreme Court strikes down New York gun law on Second Amendment grounds | C
Proposed changes to retirement system approved by Senate committee | C
Biden Administration Agrees to Cancel $6 Billion in Student Debt Over Fraud Claims | W
China
Chinese Internet Giants’ Ad Revenue Suffers as Business Confidence Wanes | W
Geopolitics & trade
EU grants Ukraine candidate status in 'historic moment' | R
Industries & companies
Airlines: United Airlines will cut 12% of Newark flights in effort to tame delays | C
Consumer Discretionary: Amazon to invest $23 million to increase Seattle's affordable housing | C
Energy: ExxonMobil at crossroads of clean energy transition, climate crisis | C
Media: Netflix Confirms Partnership Talks for Ad-Supported Service | W
Tech: Intel warns Ohio factory could be delayed | C
Beyond markets
CDC panel recommends Moderna two-dose Covid vaccine for kids ages 6 to 17 | C
June 23 (Thursday)
Latest Morning Briefing Executive Summary: Energy, EVs & Crypto
The price of oil has begun to come down. But countervailing forces are exerting both downward and upward pressure on oil prices. Among the former, production has ramped up greatly. Jackie examines the dynamics affecting oil industry pricing. … And: Electric vehicles are gaining traction in the marketplace. But they’re costing more to make with commodity prices so high and costing more to buy with manufacturers passing their cost increases onto consumers. … Also: Many of the many cryptocurrency players are bound to succumb to hypothermia during the brutal industry contraction dubbed “crypto winter.”
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 21.
Markets
Cramer says a ‘bull market within a bear market’ situation is possible if these 6 things happen | C
Russia’s ruble is at its strongest level in 7 years despite massive sanctions. Here’s why | C
Facebook, Netflix and PayPal Are Value Stocks Now | W
Putin signs decree on new scheme to service Eurobonds as default looms | R
Global
U.S. recession fears darken outlook for global growth | R
Citigroup sees chances of global recession nearing 50% | R
Central banks
Fed Chair Jerome Powell Says Higher Interest Rates Could Cause a Recession | W
Fed’s Jerome Powell to Head to the House With Interest Rates in Focus | W
Energy
Germany triggers ‘alert level’ of emergency gas plan, sees high risk of long-term supply shortages | C
Germany triggers gas alarm stage, accuses Russia of 'economic attack' | R
Biden calls on Congress to suspend the gas tax — Here’s what that means for prices at the pump | C
U.S. oil refiners to meet Biden officials in high-stakes price talks | R
Biden administration leans on Tesla for guidance in renewable fuel policy reform | R
US
Immigration Coverage Is Newest Benefit From Some Companies | W
Europe
Europe’s Economy Slows Sharply as Recession Risks Grow | W
France’s Emmanuel Macron Calls for Compromise After Losing Majority in Parliament | W
Britain’s Inflation Crisis Deepens, Fueling Strike Action | W
China
Analysis: Record numbers of Chinese graduates enter worst job market in decades | R
Geopolitics & trade
Ukraine takes tentative step toward EU membership as Donbas battles reach 'fearsome climax' | R
Why Ukraine’s Snake Island Is Key to Russia’s Strategy in the War | W
Russia Hits Grain Terminals in Latest Attack on Ukraine’s Food Infrastructure | W
Isolated Putin says trade with China and India is increasing | C
Russian oil tankers get India safety cover via Dubai company | R
Industries & companies
Airlines: American Airlines to stop flying to four small cities, citing pilot shortage | C
Communications Services: Mark Zuckerberg envisions a billion people in the metaverse | C
Retail: The retail industry is facing a potential wave of bankruptcies – here’s why | C
Retail: Nike to fully exit Russia, will scale down over coming months | R
Corporate finance
Chinese Battery Giant CATL Raises $6.7 Billion in Share Sale | W
Beyond markets
Musk says Tesla’s factories in Berlin and Texas are ‘gigantic money furnaces’ | C
June 22 (Wednesday)
Latest Morning Briefing Executive Summary: The Latest Business Cycle
The Census Bureau’s monthly “Manufacturing and Trade Inventories and Sales” report is chock-full of valuable information that often goes unnoticed by the media and economists alike. Last week’s release, with data through April, shows inventories starting to rise relative to sales, especially among retailers. That implies good and bad news—good for constraining inflation, bad for economic growth, increasing the risk of a goods-led recession. … And: With global inflation surging, are the major global central banks tightening with Fed-like fervor? Not exactly. Melissa examines the unique issues in Europe, Japan, and China that are tempering their monetary policy responses.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 21.
Markets
Stock Market Jumps After S&P 500’s Worst Week in Two Years | W
Energy
Biden’s proposed windfall profits tax will make America less energy secure | The Hill
As Biden weighs a federal gas tax holiday, here’s what that could mean for prices at the pump | C
How Biden got caught in Russia's oil and gas web — and who is paying the price | MSNBC
Global
Are supply chain woes being exaggerated? | The Hill
Central banks
Sick of inflation? Blame the Federal Reserve | Washington Examiner
US
U.S. Existing-Home Sale Prices Hit Record of $407,600 in May | W
Sales of existing homes fell in May, and more declines are expected | C
5 signs the housing market is starting to slow down | NN
Geopolitics & trade
Russia warns Lithuania of 'consequences' over blocked rail to enclave | R
Taiwan scrambles 29 jets to warn away Chinese planes in its air defense zone | R
Companies Find Leaving Russia Difficult, Though Many Are Trying | W
Industries & companies
Autos: Tesla sued by former employees over 'mass layoff' | R
Autos: Elon Musk clarifies Tesla will lay off 3.5% of total workforce as ex-employees sue company | C
Retail: Lowe’s expands into the metaverse with a tool to help visualize projects | C
Corporate finance
Kellogg Splitting Into Three Companies as It Shifts Focus to Global Snacks | W
June 21 (Tuesday)
Latest Morning Briefing Executive Summary: Revisiting Venus and Mars
“What planet are you from?,” analysts and investors may be wondering of each other these days, with the former super bullish and the latter super bearish. Analysts weren’t bullish enough about Q1 earnings. Yet investors are solely focused on the recession risk as the Fed fights inflation and have been pounding down valuations. … Barring a recession, the S&P 500 appears fairly valued, though we look today at a couple of still concerning valuation models. And of course, the odds of a recession aren’t trivial. … Also: The MegaCap-8 stocks are no longer “the Magnificent 8”; we examine their rise and fall. … And: Dr. Ed reviews “Jurassic World: Dominion” (- - -).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 13.
Markets
Stocks Historically Don’t Bottom Out Until the Fed Eases | W
Energy & food
‘The situation is serious’: Germany plans to fire up coal plants as Russia throttles gas supplies | C
Less Russian Gas Puts Europe’s Winter Fuel Supply in Jeopardy | W
Why grain can’t get out of Ukraine | Vox
Central banks
Europe faces 'severe' risk of disorderly financial market correction: Lagarde | R
Fed’s Bullard Says He Expects Economic Expansion to Continue This Year | W
Fed's Bullard: I hope U.S. economy repeats outcome of 1994's soft landing | R
US I
Inflation and recession fears are squeezing some industries more than others | C
Here’s why this housing downturn is nothing like the last one | C
Biden says decision on pause on federal gasoline tax could come by end of week | R
US II
Labor Shortage Stymies Construction Work as $1 Trillion Infrastructure Spending Kicks In | W
School’s Out for Summer and Many Teachers Are Calling It Quits | W
Small Businesses Fall Behind on Hiring as Inflation Takes a Toll | W
Europe
France risks gridlock after Macron handed hung parliament | R
Geopolitics & trade
Putin fears "spark of democracy", Germany's Scholz says | R
Denmark keeps F-16 fighter jets flying due to Russia threat | R
Russia warns NATO-member Lithuania over Kaliningrad transit | R
Russia pounds villages in the Donbas; Mariupol residents said to be ‘on the brink of survival’ | C
WTO Steps Back from the Abyss of Irrelevance… but Crucial Issues Remain Unresolved | Cato at Liberty Blog
Israel’s parliament to dissolve, Foreign Minister Lapid to become prime minister | C
Industries & companies
Airlines: Emirates boss says travel demand unlikely to dissipate despite airport chaos | C
Airlines: Flight Cancellations and Delays Snarl Travel During Busy Holiday Weekend | W
Autos: How GM, Ford and Tesla are tackling the national EV charging challenge | C
Autos: Volvo says it has started testing trucks with fuel cells powered by hydrogen | C
Crypto
Bitcoin bounces back after falling to new 2022 lows over the weekend | C
Crypto lending firm Celsius asks users for more time to fix issues after halting withdrawals | C
Beyond markets
Yellowstone National Park to Partially Reopen After Devastating Floods | W
June 20 (Monday)
Latest Morning Briefing Executive Summary: Stocks & Crypto
Ready for an unflinching look at the mauling the bear market has inflicted on specific S&P 500 sectors and industries? Jackie assesses the valuation and share-price carnage among the worst and best performers relative to both one year ago and January 3, when the S&P 500 peaked at its record high. … Also: Crypto lending markets have blown up for the second time in as many months. We look at the unregulated business that’s been called the “Wild West” of lending—the players, their troubles, and the SEC’s concerns. … Also: Car-sharing companies like the soon-to-be-public Turo aim to disrupt the car rental industry with an Airbnb-like business model.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 13.
Markets
Stock Market Has a Very Bad Week. Why It Gets Worse Before It Gets Better. | BR
History says the next bull market is just months away | MW
Do Bear Markets Lead to Recessions? | Morningstar
Energy
Germany announces steps to boost gas storage as Russia cuts supply | R
Gasoline Tax Holiday ‘Worth Considering,’ Yellen Says | W
The Hidden Driver of High Gas Prices | The American Prospect
California Can’t Kick Its Fossil Fuel Addiction | OilPrice.com
Central banks
The Lords of Money Pose Massive Threats to Markets | W
The Fed and the ECB turn on a dime | E
The Bank of Japan will not be bullied | BOJ
Inflation will not fall to 2% target for two years, Fed's Mester says | R
The Fed’s Inflation Mistakes Have Damaged Its Credibility | BR
Emerging markets
Rising Inflation and Interest Rates Heap Pressure on Emerging Markets | W
US
Democrats Expect Joe Biden to Run in 2024. They’re Less Sure If He Should. | W
Recession Probability Soars as Inflation Worsens | W
Hot Housing Market Keeps Home Foreclosures at Bay | W
Europe
Macron loses absolute majority in parliament, initial projections show | R
Geopolitics & trade
NATO warns of long Ukraine war as battles grind on | R
The tricky restructuring of global supply chains | E
The EU should declare Ukraine a candidate for membership | E
Industries & companies
Consumer Discretionary: Amazon’s workforce turnover is so high that it could run out of people to hire by 2024 | Vox
Pharma: The Days of Big Pharma Are Over. Big Biotech Is on Its Way. | BR
Crypto
The ‘Crypto Winter’ Could Become a ‘Crypto Hell.’ What to Know. | BR
Climate
The property industry has a huge carbon footprint. Here’s how to reduce it | E
Mining Firms’ Cautious Spending Threatens Shift to Green Energy | W
June 18 (Saturday)
Latest Morning Briefing Executive Summary: Stocks & Crypto
Ready for an unflinching look at the mauling the bear market has inflicted on specific S&P 500 sectors and industries? Jackie assesses the valuation and share-price carnage among the worst and best performers relative to both one year ago and January 3, when the S&P 500 peaked at its record high. … Also: Crypto lending markets have blown up for the second time in as many months. We look at the unregulated business that’s been called the “Wild West” of lending—the players, their troubles, and the SEC’s concerns. … Also: Car-sharing companies like the soon-to-be-public Turo aim to disrupt the car rental industry with an Airbnb-like business model.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 13.
Markets
S&P 500 rises slightly Friday, but still posts worst week since 2020 | C
Look for more selling pressure next week as investors learn the hard way not to fight the Fed | C
How to Stand Up to a Bear Market | W
Why gas prices are so high, explained | Vox
Central banks
Fed promises 'unconditional' approach to taking down inflation in report to Congress | C
Interest Rates Are Well Below What Academic Formulas Suggest, Fed Report Says | W
New York Fed Model Shows Chance of ‘Soft Landing’ At Just 10% | B
Japan’s Kuroda Says He Won’t Raise Rates, Even With Weak Yen | W
US
How to Know When Switching Jobs Could Get Harder | W
U.S. Industrial Production Eased in May, Adding to Signs of Economic Slowdown | W
Credit Card Rates at 20%, Mortgages Near 6% After Fed's 75 Basis Point Rate Hike | B
Will Home Prices Fall? Builders Offer Discounts as Mortgage Rates Rise | B
Everyone knows inflation is on fire. Here's what's really fueling it | C
Biden Team Negotiates Fresh Economic Plan as Inflation Antidote | B
Energy Inflation Derails Biden’s Climate Agenda | W
Geopolitics & trade
Russia Steps Up Pressure on European Gas Supplies | W
Russia-Ukraine war: Putin hits out over Western sanctions ‘blitzkrieg' | C
EU backs Ukraine's membership bid to 'live the European dream' | R
Russia Ukraine war: Summary of weapons U.S. has given to Ukraine | C
China's Xi says trade with Russia to hit new records in coming months | C
See How Sanctions Changed Where Russian Private Jets Fly | N
Biden defends meeting with Saudi prince, says talks part of broader meeting | R
Crypto
Crypto Has a Crazy Week, With Bitcoin Dropping and Celsius Freezing | W
Forget Crypto Winter. In Biotech, It’s Been Freezing for Months | B
Technology
China Tests Tech That Could Beam Solar Power From Space to Earth | B
Climate
Fertilizer Stockpiles Swell as Farmers Shun High Prices, Easing Harvest Worries | B
Beyond markets
Chie Hayakawa Imagines a Japan Where the Elderly Volunteer to Die | N
June 17 (Friday)
Latest Morning Briefing Executive Summary: Stocks & Crypto
Ready for an unflinching look at the mauling the bear market has inflicted on specific S&P 500 sectors and industries? Jackie assesses the valuation and share-price carnage among the worst and best performers relative to both one year ago and January 3, when the S&P 500 peaked at its record high. … Also: Crypto lending markets have blown up for the second time in as many months. We look at the unregulated business that’s been called the “Wild West” of lending—the players, their troubles, and the SEC’s concerns. … Also: Car-sharing companies like the soon-to-be-public Turo aim to disrupt the car rental industry with an Airbnb-like business model.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 13.
Markets
Dow Closes Below 30000 as Post-Fed Rally Reverses | W
Stock-Market Traders Coming to Grips With a Fed as Baffled as They Are | B
Bear Markets and Recessions Happen More Often Than You Think | N
US Junk-Bond Spreads Top 500 Basis Points in First Since 2020 | B
Oil Set for Weekly Loss as Traders Weigh Monetary Tightening | B
Central banks
A day after Powell's assurances, markets are worried something breaks | C
By Design, the Fed May Be Tightening Too Much | W
BOJ to maintain ultra-low rates, sound warning over weak yen | R
US
U.S. Economic Growth Shows Signs of Slipping | W
President Biden says a recession is ‘not inevitable’ | C
Joe bummer: Biden says Americans ‘are really, really down’ | P
Rates on U.S. 30-year mortgages see biggest one-week increase since 1987 | R
Mortgage Rates Hit 5.78%, Highest Level Since 2008 | W
Mortgage Rate Increases Could Cut More Homebuyers Out of US Housing Market | B
High U.S. Fuel Exports Are Contributing to $5-a-Gallon Gas | W
Everyone knows inflation is on fire. Here's what's really fueling it | C
China
As US Envoy Warns China Covid Zero to Last to 2023, Beijing Steps Testing | B
Europe
European leaders visit Ukraine, dangling hope of EU membership | R
Geopolitics & trade
Russia Slashes Gas Flows, Aiming Economic Weapon at Europe | W
France, Germany, Italy, Romania Back Ukraine’s Bid for EU Membership | W
Industries & companies
Airlines: Airline stocks tumble as economic concerns overshadow travel surge | C
Financials: U.S. banking stress indicator could worsen after Fed hike | R
Crypto
EXCLUSIVE State securities regulators investigating Celsius accounts freeze | R
June 16 (Thursday)
Latest Morning Briefing Executive Summary: Stocks & Crypto
Ready for an unflinching look at the mauling the bear market has inflicted on specific S&P 500 sectors and industries? Jackie assesses the valuation and share-price carnage among the worst and best performers relative to both one year ago and January 3, when the S&P 500 peaked at its record high. … Also: Crypto lending markets have blown up for the second time in as many months. We look at the unregulated business that’s been called the “Wild West” of lending—the players, their troubles, and the SEC’s concerns. … Also: Car-sharing companies like the soon-to-be-public Turo aim to disrupt the car rental industry with an Airbnb-like business model.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 13.
Markets
Stocks rally, Treasury yields rise after Fed lifts rates by 75 bps | R
Oil prices fall over 2% as Fed hikes interest rates | R
Generation Z Is Getting a Harsh Lesson in Stock Risk | B
Energy
Nord Stream 1 gas supply cut aimed at sowing uncertainty, Germany warns | R
EU Signs Gas Deal With Israel, Egypt in Bid to Wean Itself off Russian Supplies | W
Biden Pushes Fuel Makers to Boost Capacity, Criticizes Profits | W
Central banks I
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994 | C
Powell says Fed could hike rates by 0.75 percentage point in July | C
Fed members predict more hikes with the benchmark rate above 3% by year-end | C
Here's what changed in the new Fed statement | C
Central banks II
Bond Market Spooks ECB Into Doing...Nothing | B
ECB pledges new crisis tool to help indebted southern states | R
ECB Prepares New Tool to Tackle Rising Borrowing Costs in Weaker Economies | W
US I
U.S. Retail Sales Declined in May as Inflation Stings Consumers | W
U.S. business inventories rise strongly; sales slow | R
U.S. Home Equity Hits Highest Level on Record—$27.8 Trillion | W
U.S. mortgage interest rates jump to highest level since 2008 | R
On Inflation, Economics Has Some Explaining to Do | W
The Real Problem With Inflation | Morningstar
US II
Inflation Puts Janet Yellen at Odds With Biden White House | B
Biden Administration to Start Spending on Cleanup of ‘Forever Chemicals’ in Drinking Water | W
China
China’s Economy Shows Signs of Recovery, but Covid Lockdown Threat Remains | W
China bank protest stopped by health codes turning red, depositors say | R
Geopolitics & trade
China’s Xi Reaffirms Support for Moscow in Call With Putin | W
U.S., Allies Pledge New Help to Ukraine Against Russia Amid Growing Strains | W
Ukraine ignores Sievierodonetsk ultimatum, urges faster arms deliveries | R
Industries & companies
Autos: Tesla Tops List of Crashes Thought to Involve Driver-Assistance Technology | W
Autos: Foxconn Starts Building a Plant for Electric-Vehicle Batteries in Taiwan | W
Corporate finance
Lego to Spend $1 Billion on New U.S. Factory | W
Climate & sustainability
Nuclear Is Back on the Table for a Green Future | N
Inside the MARVEL micronuclear reactor project at Idaho National Lab | C
Beyond markets
Caterpillar and Boeing Show Headquarters Don’t Matter | B
June 15 (Wednesday)
Latest Morning Briefing Executive Summary: It’s Fed Day!
Now that May’s CPI report has dashed hopes that inflation has peaked, it’s clear to investors that tethering inflation will take more aggressive tightening by the Fed. Today we will find out if the FOMC has decided to put more muscle into the fight. Will Powell show the same conviction to stay the course as his predecessor Volcker did decades ago? This may be Jerome Powell’s Volcker Moment. … Also: We look at what various Fed officials have said recently about the battle against inflation. … And: Tuesday’s inflation numbers mostly showed that inflation isn’t getting worse, but it isn’t getting better either.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 13.
Markets
S&P 500 falls for a fifth day, slips deeper into bear market territory ahead of Fed decision | C
U.S. bonds: 10-year Treasury yield in focus ahead of Fed meeting | C
U.S. to sell up to 45 mln bbls oil from reserve as part of historic release | R
Central banks
Former New York Fed Chief Dudley Expects 0.75-Point Rate Rise This Week | W
US
Analysis: U.S. stocks' bear market growl could beckon recession | R
30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago | C
Opinion: 3 signs the labor market isn't as great as it looks - CNN
China
Beijing Probes Bar Staff Linked to Covid-19 Outbreak, as Cases Spread | W
Geopolitics & trade
Biden touts grain silos on Ukraine border to help exports; Kyiv wants ports open | R
U.S. and partners enter pact to secure critical minerals like lithium | R
Biden to meet with Saudi crown prince despite 'pariah' pledge | R
Biden Weighs Ending Some China Tariffs Soon in Response to Inflation | W
Industries & companies
Airlines: FAA, airlines scramble to reduce summer travel delays | C
Energy: Natural gas plummets as Freeport delays facility restart following explosion | C
Industrials: Caterpillar to Move Global Headquarters to Texas From Illinois | W
Media: Netflix considers ads, password sharing crackdown, live sports | C
Climate & sustainability
Texas power demand breaks record as severe heat wave hits the state | C
Plan to Label Gas, Nuclear Energy as Sustainable Stumbles in Europe | W
Beyond markets
Baby Formula Shortage Spurs Stockpiling, Data Show | W
June 14 (Tuesday)
Latest Morning Briefing Executive Summary: Bull Market, R.I.P.
The S&P 500 breached bear market territory yesterday, and this week’s economic releases could drive the index deeper into bear terrain by highlighting the persistence of the inflation problem. … Bear markets nearly always are accompanied by recessions. But while we did recently raise our odds of recession to 45%, we’re still not in the recession camp; notably, analysts’ earnings expectations are still rising to record-high levels. Our higher recession odds combined with the unfolding bear market have lowered our sights for the S&P 500’s valuation multiple and price index for the rest of 2022 and for 2023.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 13.
Markets
Dow Drops Over 800 Points; S&P 500 Falls Into Bear-Market Territory | W
When You’re Forced to Cash Out in a Bearlike Market | N
How Inflation Is Affecting Money Market Funds | N
Soybean Prices Hit Record as Inflation Stays Hot | W
Credit
10-year Treasury yield rockets above 3.39% in biggest move since March 2020 | C
Inflation Fears Send U.S. Bond Yields Surging Ahead of Fed Meeting | W
Explainer: U.S. yield curve inverts again: What is it telling us? | R
Central banks
Fed Likely to Consider 0.75-Percentage-Point Rate Rise This Week | W
Inflation Reports Raise Chances for Surprise 0.75-Percentage-Point Rate Rise This Week | W
Another big Fed rate hike is coming. But how many more after that? | NN
Higher Unemployment Rate Looms as the Fed Fights Inflation | W
US
Morgan Stanley CEO James Gorman sees 50-50 odds of recession ahead | C
Joe Biden says 'Exxon made more money than God this year' | Daily Mail Online
Biden Plan for EV Chargers on Highways Meets Skepticism in Rural West | W
Europe
U.K. Unveils Brexit Bill to Change Northern Ireland’s Trade Status | W
Industries & companies
Airlines: American Airlines regional carriers hike pilot pay as shortage persists | C
Consumer Discretionary: Amazon to Make Deliveries by Drone in California Later This Year | W
Tech: FTC Chair Lina Khan’s plan to take on Big Tech | Vox
Geopolitics & trade
Latest Shanghai quarantines add more pressure to global supply chain | C
Some European Factories, Long Dependent on Cheap Russian Energy, Are Shutting Down | W
U.S. holds ‘candid’ and ‘productive’ talks with China in nearly 5-hour meeting | C
Corporate finance
Prologis to Buy Duke Realty in $26 Billion Deal, Including Debt | W
Beyond markets
Why We Still Haven’t Solved the Unpaid Internship Problem | N
How Covid Did Away With the Sick Day | N
June 13 (Monday)
Latest Morning Briefing Executive Summary: That ’70s Show On Fast-Forward
May’s CPI report showed scant signs of inflation peaking, though we still expect peaking soon. The report also suggests a more hawkish Fed and higher recession risk. We’re raising our odds of a mild recession to 45% from 40%. … Investor and consumer sentiment both have soured. But this time, pervasive bearishness may not be as useful a contrarian bullish signal as in the past. There may not be much upside for stocks until the Fed is done tightening later this year. … Also: We revisit the question of the decade: Will the 2020s resemble the Great Inflation of the 1970s or the Roaring 1920s? … And: Dr. Ed reviews “Gaslit” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 6.
Markets
Earnings Are Under Threat, Another Blow to Sagging Stock Market | W
Japan’s Yen Usually Benefits When Markets Get Ugly. Not This Time | W
Central banks
Hot Inflation May Mean an Even More Aggressive Fed | Morningstar
Sizzling Prices Complicate Fed’s Inflation-Fighting Strategy | W
Why controlling inflation should be the Federal Reserve’s primary goal | The Hill
How Did Yellen and Powell Get Inflation So Wrong? | The Atlantic
Column: ECB sowing messy 'some of what it takes' signal | R
US
An ‘Ugly’ Inflation Report Upended Hopes That Price Gains Would Ease | N
‘Peak Inflation’ Keeps Peaking | W
Why Is Gas So Expensive? Don’t Blame Gas Stations for Painful Prices, Exclusive Data Show. | BR
Millennials and Gen Zers want to buy homes—but they can't afford it | C
Business Travel Is Rebounding—Slowly and Unevenly. ‘There Is No More Normal.’ | BR
Geopolitics & trade
Ukraine says it still controls Sievierodonetsk plant sheltering hundreds of civilians | C
Ukraine's Zelenskyy on food crisis, prices amid war with Russia | C
Ukraine grain exports via Poland, Romania face bottlenecks, deputy foreign minister says | R
Rice prices are rising amid rising food inflation, export bans | C
French, German and Italian Leaders to Meet With Zelensky in Kyiv | W
Shangri-La: Chinese defense minister on U.S.-China tensions, Taiwan | C
Factbox: Impact of strike by South Korean truckers on autos, steel, others | R
Industries & companies
Energy: This Industrial-Gas Giant’s Is Steady in a Volatile Market. It Also Scores High on ESG. | BR
Media: Some Ads Play on Streaming Services Even When the TV Is Off, Study Finds | W
Media: 'Jurassic World: Dominion' opening weekend box office | C
Pharma: Three-Dose Pfizer Covid Vaccine Works Safely in Young Children, Review Says | W
Technology
How smarter AI will change creativity | E
Beyond markets
Baby-Formula Shortage Has Spurred Competition, but Tough Road Remains to Unseat Similac, Enfamil | W
Swim lessons are impossible to find right now. What’s going on? | Slate.com
June 11 (Saturday)
Latest Morning Briefing Executive Summary: Energy & Consumers
President Biden says he wants to bring down gas and other energy prices. But his actions on the margin have been ineffectual so far. We doubt he’ll solve the problem without unshackling the US oil and gas industry’s production. Environmentalists wouldn’t be happy, but American citizens likely would. … And: We’re starting to notice industry analysts trimming earnings estimates for companies in the S&P 500 Consumer Discretionary sector. We examine which industries have seen estimates drop the most. … Also: A look at some innovative new products for these high-energy-cost times.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 6.
Markets
Stock Market Valuation Trauma Is Refusing to End for S&P 500 in Free Fall | B
June’s Looking Like a Game Changer for Beleaguered China Stocks | B
Oil falls as U.S. inflation data surges, China imposes lockdowns | R
U.S. Bonds: Treasury yields in focus amid key inflation data | C
Central banks
Soaring inflation fuels bets on sharper Fed rate hikes | R
Inflation Pickup Complicates Fed Outlook Beyond June Meeting | W
Fed will raise rates next week, but Powell remarks may matter most | C
Larry Summers Says Fed Forecasts Look Ridiculous, Warns on Rate Delay | B
ECB Fuels Market Jitters Over Italy’s Debt | W
Column: ECB sowing messy 'some of what it takes' signal | R
US
U.S. Inflation Hit 8.6% in May | W
Gasoline, Groceries and Housing Drove Inflation in May | W
Gasoline Prices Reach $5 a Gallon Nationwide for the First Time | W
Joe Biden jabs Exxon Mobil over gas prices after May CPI inflation report | C
Inflation, consumer woe add to worries that recession is already here | C
Emerging
Business Losses From Russia Top $59 Billion as Sanctions Hit | W
Geopolitics & trade
Ukraine pleads for more weapons, cholera spreads in Mariupol | R
U.S., China Defense Chiefs Dial Down Tensions Over Taiwan | W
Industries & companies
Airlines: U.S. drops Covid testing requirement for international travelers | C
Communications Services: Meta Scrutinizing Sheryl Sandberg’s Use of Facebook Resources Over Several Years | W
Homebuilding: Big landlords jump into the homebuilding as demand for single-family rentals surges | C
Technology: Chip Shortage Threatens Cutting-Edge Tech Needed for Next-Generation Smartphones | W
Corporate finance
JetBlue CEO 'optimistic' airline can acquire Spirit | R
Virus
Moderna’s Covid-19 Vaccine Works Safely in Kids, Including Those Under Age 5, FDA Says | W
June 10 (Friday)
Latest Morning Briefing Executive Summary: Energy & Consumers
President Biden says he wants to bring down gas and other energy prices. But his actions on the margin have been ineffectual so far. We doubt he’ll solve the problem without unshackling the US oil and gas industry’s production. Environmentalists wouldn’t be happy, but American citizens likely would. … And: We’re starting to notice industry analysts trimming earnings estimates for companies in the S&P 500 Consumer Discretionary sector. We examine which industries have seen estimates drop the most. … Also: A look at some innovative new products for these high-energy-cost times.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 6.
Markets
Stocks, euro slip as ECB sets rate hikes, CPI looms | R
Beware of a Bear Market That Is More Than a Cub | WP
Oil falls on demand worries over Shanghai's new partial lockdowns | R
Natural-Gas Prices Swing in Volatile Trading After Fire in Texas and New Inventory Data | W
Central banks
ECB Plans July Rate Increase as Inflation Problem Deepens | W
Central Banks Are Still Far Behind the Inflation Curve by Willem H. Buiter & Anne C. Sibert | PS
US I
May consumer inflation expected fiery hot as gas, food and rent rose | C
Consumers changing eating, shopping habits as inflation pushes up prices | C
As Gas Prices Near $5 a Gallon, Record Fuel Costs Upend Businesses, U.S. Economy | W
What Is Stagflation? What to Know About the World Bank’s Global Economic Outlook | W
The more gasoline rises above $5, the greater risk there is of recession | C
US II
Yellen says U.S. recession unlikely, but no drop in gasoline prices soon | R
Bringing inflation down is going to take time, patience — and pain | C
Home Buyers Finding Creative Ways to Make All-Cash Offers in Hot Market | W
Median Rent in Manhattan Reaches a New High | N
China
Shanghai faces unexpected round of COVID testing for most residents | R
China's producer inflation eases to 14-month low in May | R
Geopolitics & trade
After veto on North Korea, China says 'let's see' on U.N. action over a nuclear test | R
Industries & companies
Tech: The Billionaires Behind a Push to Reinvigorate U.S. Chip-Making | N
Beyond markets
Seeking a Return to Offices, Bosses Lost Leverage | N
German Brewers Face ‘Unprecedented’ Beer Bottle Shortage | N
June 09 (Thursday)
Latest Morning Briefing Executive Summary: Energy & Consumers
President Biden says he wants to bring down gas and other energy prices. But his actions on the margin have been ineffectual so far. We doubt he’ll solve the problem without unshackling the US oil and gas industry’s production. Environmentalists wouldn’t be happy, but American citizens likely would. … And: We’re starting to notice industry analysts trimming earnings estimates for companies in the S&P 500 Consumer Discretionary sector. We examine which industries have seen estimates drop the most. … Also: A look at some innovative new products for these high-energy-cost times.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 6.
Markets
Stocks Slip Amid Worries of an Economic Slowdown | W
Tech’s Decade of Stock-Market Dominance Ends, For Now | W
Chinese Internet Stocks Hit Three-Month High | W
Yen Hits 20-Year Low, Fueling Price Rises and Apology | W
Central banks
Powell’s Opinions on Inflation Matter, Not Biden’s | W
Energy & Climate
Freeport LNG plant to shut for 3 weeks, roiling global energy markets | R
EXCLUSIVE Venezuela demands prepayment on spot oil sales after buyer defaults -sources | R
Fertilizer Price Surge Drives Brazil to High-Tech Alternatives | W
US
Mortgage demand falls to the lowest level in 22 years | C
White House Struggles to Talk About Inflation, the ‘Problem From Hell’ | N
U.S. Considering Reducing Tariffs on China to Ease Inflation, Yellen Says | W
America needs to go back to work — in person | P
Europe
Stagflation and Recession Warnings Plague U.K. Businesses | N
Emerging
Russia's economic slump will wipe out 15 years of gains - IIF | R
Industries & companies
Energy: Exxon’s Stock Hits First Record High in Eight Years | W
Health Care: Hospitals Face Penalties for First Time for Failing to Make Prices Public | W
Pharma: Startup Cerebral Soared on Easy Adderall Prescriptions. That Was Its Undoing. | W
Retail: Target CEO Says Unloading Excess Inventory Is a Necessary Pain | W
Crypto
How ‘Trustless’ Is Bitcoin, Really? | N
Technology
Israeli Tech Firm Rolls Out Tracking Devices the Size of Postage Stamps | W
June 08 (Wednesday)
Latest Morning Briefing Executive Summary: Whip Inflation Now!
There’s no disputing it anymore: America’s inflation problem isn’t transitory. It has been persistent. The question now is whether it is protracted or not. Biden’s response to “our top economic challenge” is lame. … On a brighter note, we expect the release of May’s CPI report on Friday to show that consumer durable goods inflation is rapidly moderating. On a dimmer note, that positive should be partially offset by the unabated climb of prices for gasoline, groceries, and rent. … Also: Europe’s economy has been remarkably resilient in the face of its formidable challenges. Melissa examines the headwinds and tailwinds for Europe’s economy and MSCI index.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 6.
Markets
Dow rises more than 200 points as traders try to shake off Target's profit warning | C
Stocks Finish Volatile Session Higher | W
Global
World Bank Warns of Stagflation Risk, Cuts Global Growth Forecast to 2.9% | W
Global Growth Will Be Choked Amid Inflation and War, Says World Bank | N
US I
Fed GDP tracker shows the economy could be on the brink of a recession | C
The Potential Dark Side of a White-Hot Labor Market | N
U.S. Imports Slowed in April, Shrinking Trade Deficit From Record | W
US II
As Biden dithers, states are enacting meaningful inflation policy | The Hill
Biden to relax China tariffs in lame bid to address inflation | P
Yellen says U.S. inflation 'unacceptable' but likely to stay high | R
Japan
Japan Adopts View That Huge Government Debt Doesn’t Matter | W
Geopolitics & trade
Ukraine's Zelenskiy says it will fight for all territory amid fierce battle in east | R
Russia Is Weaponizing Food Supplies in Ukraine, Europe Says | W
EXCLUSIVE Russia hikes oil exports from major Eastern port to help offset EU ban | R
Industries & companies
Airlines: Want to Fly This Summer? Good Luck Traveling to a Small City. | W
FinTech: Apple expands fintech ambitions in iOS 16 | C
Retail: Target warns of squeezed profits from aggressive inventory plan | C
Beyond markets
The Diablo Canyon control room turned this mom into a nuclear advocate | C
June 07 (Tuesday)
Latest Morning Briefing Executive Summary: Jamie’s Hurricane
Jamie Dimon spooked the financial markets last week with his forecast of an economic hurricane headed straight for us. Today, we take a balanced look at Dimon’s three big worries—the Fed’s quantitative tightening bursting financial asset bubbles, the Ukraine war driving commodity prices skyward, and consumers using up their stimulus savings. … Our perspective: Don’t be alarmed by the metaphor; hurricanes come and go. What matters is their magnitude, which Dimon admits is unknown. … However, the term “self-fulfilling prophecy” is bound to apply to some extent when the head of the nation’s largest bank says it’s going to batten down the credit hatches to prepare for a storm.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on June 6.
Markets
Investors Get Back Into Corporate Bonds | W
Nasdaq rises slightly to start week, shaking off jump in bond yields | C
US
Housing wealth sets unprecedented gain, but signs suggest market is cooling | C
Biden’s inflator in chief Brian Deese is an awful pick | P
Inflation, Political Division Put U.S. in a Pessimistic Mood, Poll Finds | W
Biden Administration to Waive Solar Import Tariffs for Two Years | W
Europe
UK's Boris Johnson wins confidence vote but suffers big rebellion | | R
China
Beijing Cautiously Reopens After Covid-19 Wave | W
Human Rights Concerns in Xinjiang Are Redefining Entire US-China Relationship | B
Geopolitics & trade
DOJ moves to seize 2 planes from Russian oligarch Roman Abramovich | C
Industries & companies
Autos: Solid Power begins pilot production of solid-state EV battery | C
Media: Paramount sued over 'Top Gun' copyright as 'Maverick' soars at box office | C
Pharma: Pfizer and Moderna Won’t Get a Shot in the Arm From Toddlers | W
Tech: Amazon executive encourages sellers to oppose Big Tech antitrust bill | C
Corporate finance
Musk threatens to drop Twitter deal if fake-account data not provided | | R
Climate & food
Why the global soil shortage threatens food, medicine and the climate | C
Crypto
How Binance became a hub for hackers, fraudsters and drug sellers | R
June 06 (Monday)
Latest Morning Briefing Executive Summary: Altitude Sickness
As analysts’ earnings estimates have scaled new heights this year, investors have experienced valuation altitude sickness, which may soon be resolved by the drop in P/Es since the start of the year. Or it may resolve in a much more sickening fashion if a recession sends earnings expectations—and valuations—hurtling downward. …. A recession still isn’t our base case; we give it 40% odds. Notably, our forecasts for S&P 500 earnings and price targets assume that no recession is coming anytime soon. … To us, the latest economic indicators suggest a slowly growing economy headed for a soft landing, not a hard one. … Also: Wage inflation may be peaking.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 31.
Markets
Natural-gas prices Will Stay High as Demand Outpaces Supply | BR
Dollar’s Climb Stalls Amid Mixed Economic Signals | W
Commodities
Ukraine Is Struggling to Export Its Grain, and Here’s Why | W
US
The Wedding Craze Is No Baby Boom. What’s at Stake for the Economy. | BR
The changing American consumer | E
Individual Income Tax Payments on Pace to Reach Record Level | W
There's a push in Congress for a new national retirement savings plan | C
Yellen Says She Never Urged Smaller Rescue Package Over Inflation Concerns | W
China
Xi Jinping bans grumbling inside the Communist Party | E
China’s dilemma over a curious breed of financial firm | E
Beijing to allow indoor dining, further easing Covid curbs | C
Geopolitics & trade
South Korea, U.S. launch missiles after North Korea's missile firings | C
How the U.S. Space Force plans to police outer space | C
Ukraine Counterattack Takes Back Parts of Strategic Donbas City | W
U.S. Urged to Step Up in the Pacific After China’s Whirlwind Trip | W
A new nuclear era | E
Industries & companies
Autos: Rivian’s Great EV Expectations Meet the Harsh Reality of Manufacturing | W
Financials: Power Play | BR
Retail: Changing shopping habits are transforming America’s malls | E
Retail: Macy’s, Gap and Other Clothing Stores Are Stuck With the Wrong Items | W
Beyond markets
Abbott Nutrition restarts baby formula production in reopened Michigan plant | C
June 04 (Saturday)
Latest Morning Briefing Executive Summary: Oil Trade & AI
Ever wonder why the US is still dependent on oil imports even though fracking has boosted the amount of oil produced domestically to about the same as that consumed? And with that being the case, why does the US bother exporting oil anyway? The answers involve both a mismatch between the kind of oil America produces and consumes as well as a 100-year-old shipping law that has outlived its usefulness. Eliminating the Jones Act could not only help the US oil industry but could also revive US shipping and improve supply chains. … Also: How Nvidia and others hope to capitalize on AI and high-performance computing.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 31.
Markets
Dow falls 300 points, Nasdaq drops 2%, as major indexes notch weekly losses | C
Global stock markets fall, U.S. yields rise after strong employment data | R
U.S. Stocks Are Trading at a Rarely Seen Discount | Morningstar
Energy
U.S. gas production must accelerate to meet LNG export demand: Kemp | R
Oil settles up despite OPEC+ output hike plan; supply still tight | R
EPA Trims Ethanol Fuel Mandate for 2020-21 But Raises It for 2022 | W
Pumped-Up Prices | N
The End of Energy Free Trade | W
Global
Russia’s War on Ukraine at 100 Days Has No End in Sight, Threatening Global Costs | W
Central banks
Fed’s Mester says inflation hasn’t peaked and multiple half-point rate hikes are needed | C
US
Hiring Remains Strong Even as Fed Tries to Cool Economy | N
U.S. labor market keeps Fed on aggressive rate hike path | R
Employers Added 390,000 Jobs in May; Unemployment Steady at 3.6% | C
Retailers Cut Jobs in May With Consumers Facing Inflation, Pivoting to Services | W
Corporate Executives Assess U.S. Economy as Clouds Form | W
Why a Not-So-Hot Economy Might Be Good News | N
Gen Z Workers Want Mission-Driven Jobs. A Big Paycheck Would Be Nicer. | W
China
Beijing Sticks to Xi’s Covid-19 Stance While Endorsing Premier as Economic Fixer | W
Geopolitics & trade
Ukraine says its troops have retaken ground from Russia in eastern city | R
Industries & companies
Autos: Tesla to Cut 10% of Salaried Staff, Musk Tells Employees | N
Communications Services: Who Is Mark Zuckerberg’s New No. 2? It’s a Trick Question. | N
Retail: Stores Are Stocked Like We’re All Still Working From Home | W
Corporate finance
Bristol-Myers to Buy Turning Point Therapeutics for $4.1 Billion | W
Crypto
Crypto firms say thousands of digital currencies will collapse, compare market to early dotcom days | C
Beyond markets
Is ‘Greedflation’ Rewriting Economics, or Do Old Rules Still Apply? | N
June 03 (Friday)
Latest Morning Briefing Executive Summary: Oil Trade & AI
Ever wonder why the US is still dependent on oil imports even though fracking has boosted the amount of oil produced domestically to about the same as that consumed? And with that being the case, why does the US bother exporting oil anyway? The answers involve both a mismatch between the kind of oil America produces and consumes as well as a 100-year-old shipping law that has outlived its usefulness. Eliminating the Jones Act could not only help the US oil industry but could also revive US shipping and improve supply chains. … Also: How Nvidia and others hope to capitalize on AI and high-performance computing.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 31.
Markets
S&P 500, Nasdaq Finish Higher in Volatile Session | W
Dow jumps 400 points, Nasdaq adds more than 2% to cut two-day losing streak | C
OPEC+ raises output faster as Russia's war roils global energy markets | C
Cloud stocks mount rally led by UiPath, as investors see market bottom | C
Global
The world may be careening toward a 1970s-style energy crisis -- or worse | NN
Central banks
Federal Reserve’s Portfolio Runoff Has Begun | W
Fed’s Loretta Mester Sees Need for Aggressive Rate Hikes at Next Two Meetings | W
Fed’s Logan Says Digital Money Could Affect Central Bank Operations | W
Fed Vice Chair Lael Brainard says it's 'very hard to see the case' for the Fed pausing rate hikes | C
US
Job growth seen cooling in May but wage increases were still hot | C
U.S. Jobless Benefits Fell Last Week, Extending Stretch of Low Filings | W
White House weighs oil profits tax to fund consumer rebate | R
Social Security Reserves Expected to Be Depleted in 2035, Year Later Than Prior Projection | W
Geopolitics & trade
White House praises Saudi royals on Yemen truce before expected Biden trip | R
As Shanghai reopens, California ports prepare for cargo surge | R
Russia limits exports of noble gases, a key ingredient for making chips | R
Industries & companies
Autos: GM draws target on Tesla with EV price cut | R
Corporate finance
Ford to Create Thousands of Factory Jobs, Invest $3.7 Billion in EV, Gas-Engine Production | W
Climate & sustainability
Why hydropower is the world's most overlooked renewable | C
June 01 (Wednesday)
Latest Morning Briefing Executive Summary: Braking Energy & Breaking China
The Biden administration’s energy policy is worrying us. The plan it’s pursuing—a.k.a. “the transition”—is to pry Americans off fossil-fuel dependence by forcing up oil and gas prices. Such a crude plan is bound to have unintended consequences that put the overall economy at risk. Notably, the past six pre-pandemic recessions coincided with rapidly rising oil prices. This is one of the reasons that last week we raised our odds of a recession scenario to 40% from 30%. … And: More investors are agreeing with us that China is uninvestible. Amid economic woes, some self-inflicted, China is losing its foreign investors. We take a look at what’s scared them away.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 31.
Markets
Dow drops 200 points, finishes month little changed in turbulent May | C
Global stocks fall, U.S. yields rise as oil prices reach new highs | R
Central banks
Biden vows to give Fed Chair Powell 'space' to fight inflation | R
President Biden, Fed Chairman Jerome Powell Meet With Inflation at Its Highest in 40 Years | W
Yellen says she was 'wrong' about inflation path, Biden supports Fed actions | R
ECB’s de Cos Sees Natural Rate Around or Slightly Above 1% | B
Energy
Gas Wars Deepen as Russia Curbs Supplies to More European Buyers | B
EU Sets Harshest Russian Sanctions, Targeting Oil and Insurance | W
US
Home prices surged over 20% in March as interest rates also rose, according to S&P Case-Shiller | C
Fed Fears Hit Mortgage Bonds, Attracting Investors | W
25% of Americans are delaying retirement due to inflation, survey finds | C
'This is not the retirement I envisioned.' How retirees are getting hit by inflation | NN
Geopolitics & trade
Russia takes most of Sievierodonetsk city in eastern Ukraine | R
Industries & companies
Autos: How a cheap component could help kill off combustion cars | R
Energy: Engine No. 1 opts for accommodation over confrontation with Big Oil and big banks | ImpactAlpha
Beyond markets
Adam Neumann’s blockchain-based redemption story now sponsored by a16z | TechCrunch
Opinion | Omicron Reveals the Need for Better Sick Leave | N
May 31 (Tuesday)
Latest Morning Briefing Executive Summary: Valuation Meltups & Meltdowns
Valuation is in the eye of the beholder, but the economic outlook that influences it isn’t as subjective or hard to forecast, with lots of data available to help. … We think forward P/Es may be range bound this year and next and the S&P 500 may remain volatile below its January 3 high before climbing to new highs in 2023 and 2024. … Recession fears are weighing on valuations. We raised the odds of a mild recession to 40%, up from 30%, last week and again explain why. … Also: We discuss the variables suggesting a moderation of inflation ahead, led by consumer durables. … Finally: Dr. Ed reviews “Benjamin Franklin” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 23.
Markets
Stocks Fall, Oil Prices Gain as EU Commits to Partial Russian Crude Ban | W
China’s Tentative Reopening Gives Boost to Markets | W
Energy
Oil prices jump after EU leaders agree to ban most Russian crude imports | C
Russia hits back at the EU’s partial oil embargo, says it will find other importers for its crude | C
EU’s Ban on Russian Oil Adds Stress to Region’s Economies | W
Central banks
Bernanke: Why the Fed Didn’t Act Faster to Rein In Inflation | BR
Fed Fears Hit Mortgage Bonds, Attracting Investors | W
Fed Governor Christopher Waller says he’s prepared to take rates past ‘neutral’ to fight inflation | C
Biden, Fed Chair Powell to meet as inflation continues to weigh on consumers | R
US
Home-Price Growth Hit Record in March | W
Facing Inflation-Weary Shoppers, Grocers Fight Price Increases | W
Biden Pledges to Back Fed in Effort to Combat High Inflation | W
Inside a Biden White House adrift | C
Europe
Euro zone inflation hits yet another record high as food and energy prices soar | C
China
How Xi Jinping is damaging China’s economy | E
China’s Economic Downturn Shows Signs of Easing | W
China faces a nearly $1 trillion funding gap. It will need more debt to fill it. | C
As China’s Private Developers Retreat, State-Backed Rivals Gain Ground | W
Geopolitics & trade
Russia Extends Control Over Key Ukraine City as U.S. Plans to Boost Kyiv’s Firepower | W
China and the U.S. Are Arranging an In-Person Meeting Between Heads of Defense | W
Industries & companies
Financials: Big Banks Are Seeing Deal-Making Income Dry Up | BR
Financials: German police raid Deutsche Bank’s DWS unit | C
Crypto
Crypto’s Future Is Even More Exciting, and Maybe More Volatile, Than Its Present | BR
Top crypto firms go on the hunt for acquisition targets as market crashes | C
The luna cryptocurrency has been resurrected after its $40 billion collapse. It’s already crashing | C
Technology
Robots Pick Up More Work at Busy Factories | W
World Economic Forum Pushes Facial Recognition Technology | Brownstone Institute
Web3 Was Supposed to Save the Internet. It Has a Long Way to Go. | BR
Beyond markets
Britain urges people with monkeypox to abstain as cases rise | C
Americans who work from home are getting more productive | Vox
May 28 (Saturday)
Latest Morning Briefing Executive Summary: Energy, Retailing & Hydrogen
Spending on stuff was so yesterday. Long-cooped-up consumers now want to spend on experiences and have fun! Not even stratospheric gasoline pump prices will keep them home this holiday weekend. Today, Jackie examines the factors driving energy prices skyward. … Also, some retailers’ Q1 earnings reports revealed a have/have-not dichotomy in the consumer discretionary space. Specifically, high-end Nordstrom made out far better last quarter than did retailers to the masses. … And: An update on the expanding use of hydrogen to fuel trucks, trains, and even factories.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 23.
Markets
S&P 500, Dow snap losing streaks for best week since November 2020 | C
World stock markets rally, treasury yields fall on inflation data | R
Bets Against U.S. Treasurys Rake In Gains as Fed Raises Rates | W
Central banks
The Fed’s favorite inflation measure rose 4.9% in April in a sign that price increases could be slowing | C
Commodities
Column: Drought adds to pressure on U.S. gas inventories | R
Column: Prevent plant scenarios creep back in with clock ticking on northern U.S. | R
US
Households Boosted Spending in April but Drew Heavily on Savings | W
Goldman sees signs inflation is peaking, could be positive for stocks | C
A Federal Budget Warning for Joe Manchin | W
Memorial Day weekend car shopping is 'looking pretty bleak' | C
Europe
Boris Johnson Goes Bernie Sanders | W
China
China Tops Google, YouTube Results on Covid Origins and Beijing’s Human-Rights Record | W
Geopolitics & trade
Ukraine says troops may retreat from eastern region as Russia advances | R
Ukraine Is Accusing Russia of Again Using Thermobaric Weapons. Here’s What Makes Them So Devastating. | W
Keep the South China Sea free, Biden tells Navy graduates | R
Industries & companies
Airlines: Flight Cancellations Pile Up Heading Into Memorial Day Weekend | W
Consumer Discretionary: Amazon investor proposal to review plastic use narrowly fails to clear | R
Retail: Big Lots, Hibbett Become Latest Retailers to Show Inflation Pain | W
Retail: Glam makeup and dressing up are back, boosting Macy's and Ulta | C
Virus
Why a Massive New Covid Wave Has Escaped the Data | W
Beyond markets
How Influencers Hype Crypto, Without Disclosing Their Financial Ties | N
U.S.’s Baby-Formula Shortage Further Snarled, This Time by Ukraine War | W
May 27 (Friday)
Latest Morning Briefing Executive Summary: Energy, Retailing & Hydrogen
Spending on stuff was so yesterday. Long-cooped-up consumers now want to spend on experiences and have fun! Not even stratospheric gasoline pump prices will keep them home this holiday weekend. Today, Jackie examines the factors driving energy prices skyward. … Also, some retailers’ Q1 earnings reports revealed a have/have-not dichotomy in the consumer discretionary space. Specifically, high-end Nordstrom made out far better last quarter than did retailers to the masses. … And: An update on the expanding use of hydrogen to fuel trucks, trains, and even factories.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 23.
Markets
U.S., world stocks toast earnings, U.S. rate outlook | R
Gas Prices Are Surging, Demand Is Slipping Ahead of Memorial Day Weekend | W
Little-Known Commodity Traders Help Russia Sell Oil | W
Central banks
Digital Dollar Could Coexist With Stablecoins, Fed Vice Chairwoman Says | W
US
Home listings suddenly spike as sellers worry they'll miss out on red hot market | C
China
China's Xi urges infrastructure spending as Covid lockdowns hit | NN
No work and nowhere to live: a rural migrant's ordeal in locked-down Shanghai | R
China Excels in Google Rankings on Xinjiang and Covid-19 Searches | W
Industries & companies
Airlines: Expect more flight delays this summer — thank the government-driven pilot shortage | P
Consumer Discretionary: First Look: Amazon’s first-ever physical clothing store opens | Chain Store Age
Retail: U.S. retailer earnings show chasm among shoppers as inflation surges | R
Retail: American Shoppers Boost Retailers With Spending on Work Clothes, Discount Staples | W
Geopolitics & trade
Russian proxies claim control of key town in east Ukraine | R
Europe lambasted for failing to deter Putin's war | C
How the U.S. and South Korea Predict a North Korean Weapons Test | W
India needs to fill China gaps to become the "pharmacy of the world" | C
Corporate finance
EXCLUSIVE Evergrande discussing staggered payments, debt-to-equity swaps for $19 bln offshore bonds-sources | R
Virus
Why Covid Pandemic’s Daily Case Count Comes Up Short in the U.S. | W
Opinion | It’s Still Covid’s World. We’re Just Living In It. | N
Technology
Airbus sets up UK facility to focus on hydrogen tech for aircraft | C
Beyond markets
In home of world's biggest nuclear plant, a vote may shape Japan's atomic future | R
National Baby-Formula Stockpile Is Urged by FDA Commissioner | W
How to protect yourself against monkeypox, what to do if you catch it | C
May 26 (Thursday)
Latest Morning Briefing Executive Summary: Energy, Retailing & Hydrogen
Spending on stuff was so yesterday. Long-cooped-up consumers now want to spend on experiences and have fun! Not even stratospheric gasoline pump prices will keep them home this holiday weekend. Today, Jackie examines the factors driving energy prices skyward. … Also, some retailers’ Q1 earnings reports revealed a have/have-not dichotomy in the consumer discretionary space. Specifically, high-end Nordstrom made out far better last quarter than did retailers to the masses. … And: An update on the expanding use of hydrogen to fuel trucks, trains, and even factories.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 23.
Markets
Stocks rise after Fed signals further rate hikes, Dow jumps nearly 200 points | C
Global
World Bank's Malpass says war in Ukraine may trigger global recession | R
Central banks
Fed minutes point to more rate hikes that go further than the market anticipates | C
Fed embraces 50-basis-point rate hikes in June, July to curb 'very high' inflation | R
Fed Minutes Show Urgency for Raising Rates to Tame High Inflation | W
ECB Signals Delayed Bond Runoff, Diverging From Fed | W
Kansas City Fed Leader Esther George to Retire in January | W
US
CBO boosts U.S. GDP growth estimates, says inflation has topped and will cool to 2% by 2024 | C
Natural gas surges above $9, hits the highest since 2008 as inventories stay low | C
Orders for Long-Lasting Goods Rose Modestly in April | W
The lack of small-dollar mortgages is preventing Americans from purchasing affordable homes | C
A major cause of inflation may have peaked; that’s good news for consumers but bad news for trucking companies
Why Has the Inflation Calculation Changed Over Time? | N
China
China’s economy in battle to keep growing, says premier | FT
China’s Top Two Leaders Diverge in Messaging on Covid Impact | W
China’s Covid-19 Lockdowns Hurt Sales of Starbucks Coffee, Adidas Sneakers | W
Shanghai Scientists Have Adapted to Regime Priorities | Brownstone
Geopolitics & trade
Russia’s Absence at Davos Marks Unraveling of Globalization | W
The Middle East’s Indifference to Ukraine Is a Warning | CSIS
Iran Used Secret U.N. Records to Evade Nuclear Probes | W
Industries & companies
Energy: Tesla battery research group unveils paper on new high-energy-density battery that could last 100 years
Retail: Amazon CEO Andy Jassy says he’s focused on returning to ‘healthy’ level of profitability | C
Climate & sustainability
Ukraine War Threatens Transition to Cleaner Energy, Leaders Warn at Davos | W
Don’t write off coal. We need it to ensure power grid reliability | The Hill
The plant-based future of food doesn’t always taste that great | Vox
SEC unveils rules to prevent misleading claims and enhance disclosures by ESG funds | C
Beyond markets
Why Isn’t New Technology Making Us More Productive? | N
May 25 (Wednesday)
Latest Morning Briefing Executive Summary: The Recession Question: Raising the Odds to 40%
Might the only recession we have to fear be one triggered by recession fear itself? It’s possible that we could talk ourselves into one. So while we still expect the economy to grow through the end of next year, we are raising the odds we assign to a recession scenario from 30% to 40%. That lowers our stock-market sights for this year and next. … We have new estimates for S&P 500 revenues, earnings, profit margins, P/Es, and price targets, which we still see at a new high late next year. … Also, we explain what has caused recessions in the past and why we don’t see those dynamics developing now. We’re far from alone in our optimism: Analysts keep raising their earnings estimates, and insider buying has been on fire.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 23.
Markets
S&P 500 falls, Snap warning drags tech as Nasdaq loses 2% | C
Stocks slump on growth concerns, bond yields slip | R
Central banks
Fed Searches for the Magic Number to Cool a Red-Hot U.S. Housing Market | W
Global & food
Inflation, Rising Rates Curb Global Economic Growth | W
Food crisis fuels fears of protectionism compounding shortages | R
US
Sales of newly built homes tumbled over 16% in April while prices soared | C
Is the spike in gas prices good for America? | The Hill
U.S. Births Increase for First Time Since 2014 | W
What to Know About Gen Z in the Workplace | US News
Biden administration says it has not ruled out export curbs to ease fuel prices | R
Industries & companies
Autos: Electric vehicles are in short supply. Here’s what you can find as gas prices soar | C
Tech: Tech Stocks Continue to Fall After Snap’s Profit Warning | W
Geopolitics & trade
Biden says his Taiwan comments don’t reflect a change in U.S. policy after drawing ire from China | C
Russian and Chinese jets deliver pointed send-off on last day of Biden Asia trip | R
Russia wages all-out assault to encircle Ukraine troops in east | R
U.S. bars Russia from paying bondholders through American banks, increasing default risk | C
China Faces Growing Pressure to Iron Out Audit Deal With the U.S. | W
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
May 11 (Wednesday)
Latest Morning Briefing Executive Summary: More on Inflation & Stocks
The S&P 500 is undergoing a correction more persistent than the 72 panic attacks we’ve counted during this bull market, but will it become a bear market? The jury is still out. There is precedent for a valuation-led bear market despite stellar corporate fundamentals, during 1987. There was no recession that time, and the bear market was short-lived. … Is the real earnings yield as bearish as it seems? … Also: We look at what stock markets do during inflationary periods. … And: The collective voice of small business suggests the economy is in a stagflationary funk. … Finally: A look at what’s happening on Japan’s monetary and fiscal policy fronts.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 9.
Markets
Stocks Turmoil Spreads to Junk Bonds, Hurts Deals | W
Energy & food
Oil rises as Russia gas flow to Europe falls, EU Russian oil ban looms | R
Ukraine claims battlefield successes, curbs Russian gas to Europe | R
Big Oil braces for shareholder revolt over climate plans in proxy voting season | C
Ukraine Accuses Russia of Stealing Its Grain | W
Central banks
ECB’s Lagarde cements expectations for upcoming rate hike | C
Senate confirms Lisa Cook as first Black woman on Federal Reserve Board | C
US
U.S. Inflation Eased in April to 8.3% Annual Rate | W
Americans Planning Summer Travel Face a New Hurdle: High Inflation | W
Adjustable-rate mortgage demand surges to 14-year high, as homebuyers try to afford this pricey spring market | C
Europe
EU proposes tax incentives for equity financing like those for debt | R
China
China Consumer Inflation Accelerates Modestly | W
China calls WHO chief 'irresponsible' for saying zero-COVID strategy 'not sustainable' | R
Japan
Japan is set to open its doors in June, but some locals aren’t happy about it | C
Geopolitics & trade
Russia’s War in Ukraine Sparks Bomb-Shelter Revival in Poland | W
Industries & companies
Airlines: Traveler satisfaction is down as planes fill up and airfare rises, survey finds | C
Autos: How Ford’s F-150 Lightning stacks up against Rivian and Hummer electric pickups | C
May 10 (Tuesday)
Latest Morning Briefing Executive Summary: Inflation, Bonds & Stocks
Since 2008, the Fed’s quantitative easing had kept a lid on bond yields. But with the Fed now tightening—releasing bond yields to move solely by market forces—will yields be pushed above the inflation rate (where they usually reside)? A reversal from negative to positive real bond yields could trigger a credit crisis and recession; but we put the odds of that scenario at only 30%. Rather, we expect a soft landing for the economy, inflation moderating soon, and the Treasury bond yield marking time between 3.00%-3.25%. … For the stock market, high inflation boosts earnings yet depresses the valuations investors are willing to pay for those earnings. The lower valuations reflect investors’ fears that this will all end badly.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 9.
Markets
Stocks Slide to Lowest in 2022 as Rout Continues | W
Tech giants lost more than $1 trillion in value in the last three trading days | C
Central banks
Fed Rate Hikes Are Good for Banks—Unless They End in a Recession | W
US
Inflation outlook for consumers falls from record high, Fed survey shows | C
Taming inflation: The role of businesses and employees | The Hill
Biden calls on Congress to ‘immediately’ pass major Ukraine aid package before new Covid funding | C
Yellen says financial system working well despite ‘potential for continued volatility’ | C
Geopolitics & trade
The EU can’t quite get it together on a Russian oil embargo | Vox
Hungary Holds Up European Oil Embargo on Russia | W
Putin Uses Russia’s Victory Day Parade to Justify Invasion of Ukraine | W
Putin's Victory Day speech gives no clue on Ukraine escalation | R
Putin’s Ukraine Adventure Unleashes Nuclear Genies | W
Crypto
Bitcoin Price Falls 54% From Its High | W
40% of bitcoin investors are now underwater, new data shows | C
Corporate finance
Tech’s latest IPOs are getting demolished, with Robinhood, Rivian, UiPath down over 70% from offer price | C
Rivian stock plummets as Ford unloads 8 million shares of EV start-up | C
Big Tech is subtly controlling our lives—and we need to fight back | P
May 9 (Monday)
Latest Morning Briefing Executive Summary: Inflation Peak-a-Boo
We concur with Fed Chair Powell that getting inflation back to Earth needn’t crash our strong, liquid economy. The Bond Vigilantes aren’t as far behind the inflation curve as the Fed: They’ve already tightened credit conditions in the financial markets significantly. We expect inflation to peak this summer between 6%-7% and to recede to 3%-4% next year with no recession. … We may have spotted the first signs of peaking inflation already, in lower three-month than y/y rises of several price and wage measures. … But there are certainly plenty of indicators that cast doubt on the peaking-soon scenario. … Also, a movie review: “Summit of the Gods” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 2.
Markets
Market’s 2022 Slide Has Already Changed Investor Behavior | W
Rates Are Rising and Stocks Are Taking a Beating. It Won’t End Soon. | BR
The Stock Market Looks Like a Bear. How to Avoid Getting Eaten. | BR
Big Up Big Down Days - The Big Picture | ritholtz.com
Global
Port Labor Talks Pose New Complication for Supply Chain | W
US
With Higher Pay and Better Hours, Teens Jump Into the Job Market | W
Pay Raises Are Historically High. Inflation Is Still Eclipsing Those Gains. | W
Hospitals Look to Raise Treatment Costs as Nurses’ Salaries Increase | W
Why is there a union boom? | C
They Came, They Hiked, They Stayed: Retirees Lift Fortunes in Rural America | W
The cities Americans moved to the most in 2021, according to Penske | C
Energy secretary: Why feds are spending $2.5 billion on carbon capture | C
Economic growth is generally modeled exponentially. But, what if that’s wrong? | Vox
China
China Remains an Outlier in a World of Surging Inflation | W
'Stop asking why': Shanghai tightens COVID lockdown, Beijing keeps testing | R
Geopolitics & trade
EU edges towards oil sanctions on Russia, no deal yet | R
How the West should respond to China’s search for foreign outposts | E
Industries & companies
Autos: The Future of Transportation Is a Lot More Than Tesla. How to Invest. | BR
Autos: GM’s Stock Is a Buy—Even Though the Company Must Do More to Challenge Tesla | BR
Autos: Toyota Is Trying to Catch Up in the Crowded EV Race. It May Be Too Late. | BR
Autos: Ford is selling 8 million Rivian shares, sources say | C
Biotech: This Biotech Company Sees DNA Testing as Formula for Growth | BR
Communications services: Meta is opening a store as VR headset sales inch closer to mainstream | C
Health Care: Wearable devices are connecting health care to daily life | E
Tech: The Tech Industry’s Epic Two-Year Run Sputters | W
Travel: Travel Is Recovering, but Travel Stocks Aren’t. Here’s Where the Opportunities Are. | BR
Corporate finance
Mergers Have Slowed, but a Wave of Deals Could Be Coming | BR
Musk's $44 billion Twitter buyout challenged in shareholder lawsuit | R
May 7 (Saturday)
Latest Morning Briefing Executive Summary: Powell, Travel, Forward Earnings & Quantum Sensors
Investors liked the middle-of-the-road approach Fed Chair Powell laid out after yesterday’s FOMC meeting. We did too. … Travel-related industries are booming! Their Q1 earnings calls were brimming with optimism. Yet investors seem to have missed the memo: The share price indexes of most travel-related S&P 500 industries have plunged ytd ..: And it’s not just a travel thing: Most industries are seeing disconnects between earnings prospects and share price performance. Someone’s wrong: Either industry analysts are too optimistic in their estimates or investors too pessimistic about valuations. … Also: A developing technology with diverse potential uses: quantum sensors.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 2.
Markets
Stocks fall on Friday to close out tumultuous week, Dow drops for sixth straight week | C
Wall Street ends down on fears inflation will force tougher Fed tightening | R
Nasdaq records first five-week losing streak since 2012 | C
It’s the Worst Bond Market Since 1842. That’s the Good News. | W
Central banks
Ex-Fed Official Says Rates of at Least 3.5% Will Be Needed to Slow Inflation | W
The Fed could have trouble avoiding a double-dip recession | NN
US
U.S. unemployment rate expected to fall to 3.5% in April, job gains to slow | R
Rapid Pace of U.S. Job Growth Stretched Into April | W
Here's where the jobs were in April 2022 — in one chart | C
The U.S. Economy Is Desperately Seeking Workers | W
Pay Raises Are Historically High. Inflation Is Still Eclipsing Those Gains. | W
Used-car prices are down from record highs, easing the impact of inflation | C
Baby Formula Is Getting Even Harder to Find | W
Europe
Pent-up demand prompts European travel recovery as COVID curbs ease | R
Geopolitics & trade
Biden announces military aid package to Ukraine | C
Chinese Tech Giants Quietly Retreat From Doing Business With Russia | W
Climate
U.S. takes unprecedented steps to replenish Colorado River's Lake Powell | R
Crypto
Nvidia, SEC reach deal on cryptocurrency disclosures in 2017 | C
Opinion | What Is Happening to the People Falling for Crypto and NFTs | N
Technology
Unilever to offer robotic direct-to-consumer ice cream sales | Chain Store Age
May 6 (Friday)
Latest Morning Briefing Executive Summary:
Powell, Travel, Forward Earnings & Quantum Sensors
Investors liked the middle-of-the-road approach Fed Chair Powell laid out after yesterday’s FOMC meeting. We did too. … Travel-related industries are booming! Their Q1 earnings calls were brimming with optimism. Yet investors seem to have missed the memo: The share price indexes of most travel-related S&P 500 industries have plunged ytd ..: And it’s not just a travel thing: Most industries are seeing disconnects between earnings prospects and share price performance. Someone’s wrong: Either industry analysts are too optimistic in their estimates or investors too pessimistic about valuations. … Also: A developing technology with diverse potential uses: quantum sensors.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 2.
Markets
Dow Slides More Than 1,000 Points as Investors Reassess Fed Comments | W
Stocks are tumbling. Here's what to keep in mind | C
Elon Musk and Cathie Wood knock passive index investing, saying it’s gone too far | C
U.S. bonds: 10-year Treasury yield surges to 3.06% | C
Mortgage Rates Hit 5.27%, Highest Level Since 2009 | W
Central banks
Ex-Fed Vice Chair Richard Clarida Says Rates Must Rise to at Least 3.5% | B
Why the market is taking Powell's 'soft-ish' economic language so hard | C
Fed, Biden Administration Float New Lending Rules for Lower-Income Areas | W
BoE flags risk of recession and 10% inflation as it raises rates again | R
US
Worker output fell 7.5% in the first quarter, the biggest decline since 1947 | C
'Unretirement' is becoming a hot new trend in the sizzling U.S. labor market | C
E-commerce stocks plummet as consumers pull back online spending | C
Here's what Americans plan to spend more money on as inflation rises | C
Jim Cramer says he sees signs inflation is peaking | C
Why the child tax credit has not been expanded, despite Democrats' support | C
Karine Jean-Pierre to Be Next White House Press Secretary | B
Europe
Germany to help eastern EU states without ports access LNG -Scholz | R
China
China’s Services Sector in Doldrums as Covid-19 Lockdowns Bite | W
Geopolitics & trade
Unexplained Attacks Inside Russian Territory Raise Prospect of Wider Conflict | W
Inside Ukraine’s Besieged Azovstal Steel Plant: Siphoning Fuel, Singing Songs and Surviving the Night | W
How Elon Musk's Starlink Got Battle-Tested in Ukraine | foreignpolicy.com
Industries & companies
Consumer discretionary: Union leader slams Amazon's labor practices at Senate hearing | C
Communications services: Digital-Ad Giants Google, Facebook, Amazon Come Down From Pandemic Highs | W
Communications services: Facebook Parent Meta Hits the Brakes on Hiring as Growth Stalls | W
Energy: The Most-Hated Solar Company in America | W
Corporate finance
Shell Takes $3.9 Billion Charge Related to Russia Exit | W
Bausch + Lomb Expected to Price IPO at Low End or Below Targeted Range | W
Elon Musk Gets $7 Billion in Fresh Financing for Twitter Deal | W
Musk to lead Twitter temporarily after $44 bln takeover - source | R
May 5 (Thursday)
Latest Morning Briefing Executive Summary: Powell, Travel, Forward Earnings & Quantum Sensors
Investors liked the middle-of-the-road approach Fed Chair Powell laid out after yesterday’s FOMC meeting. We did too. … Travel-related industries are booming! Their Q1 earnings calls were brimming with optimism. Yet investors seem to have missed the memo: The share price indexes of most travel-related S&P 500 industries have plunged ytd ..: And it’s not just a travel thing: Most industries are seeing disconnects between earnings prospects and share price performance. Someone’s wrong: Either industry analysts are too optimistic in their estimates or investors too pessimistic about valuations. … Also: A developing technology with diverse potential uses: quantum sensors.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 2.
Markets
Wall Street closes with sharp gains after Fed's interest rate hike | R
U.S. Stocks Close Sharply Higher as Investors Digest Powell’s Comments | W
Why Surging Natural-Gas Prices Haven’t Sparked a Drilling Boom | W
Russian Oil Ban, Ukraine War Present Risks to Global Economy, Janet Yellen Says | W
Treasury Yields Fall After Powell Downplays Chance of 0.75 Percentage Point Rate Increase | W
Central banks
Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation | C
Global
Shanghai Lockdown Reignites Supply-Chain Problems for U.S. Companies | W
US
American Consumers Are Shopping, Traveling and Working Out Like It’s 2019 | W
More Americans than ever say it’s not a good time to buy a home | C
Geopolitics & trade
EU Proposes Ban on Russian Oil Imports | W
Are sanctions against Russia working? | Vox
Prolonged truce needed for Mariupol evacuations, Ukraine's president says | R
Climate
The Salton Sea could produce the world’s greenest lithium, if new extraction technologies work | C
Beyond markets
Everything’s a WeWork Now | Wired
May 4 (Wednesday)
Latest Morning Briefing Executive Summary: Fed Set To Hike By 200 Basis Points
The financial markets have thoroughly discounted the Fed’s plan to raise the federal funds rate incrementally by a total of 200bps, so why not dispense with the increments and go for it? That’s not in the Fed’s data-dependent DNA. … Today, we examine the case for investing in bonds: The Fed is bound to tame inflation one way or another. If inflation drops back to 3.0%-4.0% next year and 2.0% in 2024, as we expect, then a 3.00% 10-year Treasury bond yield is quite interesting. … Also: A look at the ECB’s policy playbook, which is much less hawkish than the Fed’s.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 2.
Markets
U.S. Stocks Finish Higher Ahead of Fed Meeting | W
Stocks rise, U.S. yields slip as markets await Fed rate hike | R
China’s Covid-19 Outbreak Cools Metals Rally | W
Central banks
The Fed's half-point rate boost is expected; investors on edge | C
Fed’s Message on Interest-Rate Path, Destination Will Be Scrutinized | W
Energy
Oil gains 1% after U.S. crude stocks signal tighter supply | R
Europe Is About to Ban Russian Oil: What Happens Next? | NYT
Russia Wants to Sell More Energy to Asia, but Has to Slash Prices | NYT
High Electric Bills Get Ready for Another Energy Price Spike: High Electric Bills | NYT
US
U.S. Job Openings, Quits Reach March Records in Tight Labor Market | W
Immigrants to Get Extension for Expiring or Expired U.S. Work Permits | W
Starbucks Plans Barista Raises, Says Unionized Cafes Will Need to Bargain | W
Geopolitics & trade
Europe Moves to Sanction Russia Again, Closing In on Oil Embargo | W
Ukrainian Civilians Describe Desperate Efforts to Flee Bombed-Out Mariupol | W
Kremlin on high alert as coup rumors grow in Moscow: Disgruntled generals join FSB looking to oust Putin and end Ukraine war
Zelensky Says Companies Are Supporting Russia’s ‘War Machine’ if They Stay There | W
Biden Officials Divided Over Easing China Tariffs to Slow Inflation | W
Industries & companies
Tech: Global Chip Shortage’s Latest Worry: Too Few Chips for Chip-Making | W
Corporate finance
BP Takes $25.5 Billion Hit From Russia Exit | W
Virus
U.S. CDC says travelers should still wear masks on airplanes | R
May 3 (Tuesday)
Latest Morning Briefing Executive Summary: Too Much Pessimism?
To look at analysts’ record-high and rising estimates for the companies they follow, you’d never guess that investors are sweating bullets over prospects for the US economy. But are their fears of imminent recession justified? Today, we tackle that question, assessing both the negatives that investors are accentuating as well as the positives that some economic indicators are signaling. Importantly, the US economy is shipshape. … And we remind readers: Corrections, such as the S&P 500 is in now, tend to turn into bear markets only when investors’ recession fears materialize; when they fail to, valuation multiples tend to rebound.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on May 2.
Markets
U.S. stocks gain in seesaw session, benchmark Treasury yield hits 3% ahead of Fed | R
Stocks Climb After Worst Month Since 2020 | W
50% of market is in a bubble, Dan Suzuki warns as Fed gets ready to meet | C
U.S. Treasury: 10-year Treasury yield tops 3% for first time since 2018 | C
Central banks
Fears of a Fed mistake grow as this week's anticipated interest rate hike looms | C
Global
Facing a Wheat Crisis, Countries Race to Remake an Entire Market on the Fly | W
US I
U.S. manufacturing activity slowest in more than 1-1/2 years as workers quit | R
Mortgage rates surge as home affordability nears record worst | C
-1.4% GDP Just Reminds Us of the Abject Stupidity of GDP | FO
US II
Home Buyers Are Finding Ways to Take the Sting Out of Rising Mortgage Rates | W
How much in student debt could Biden forgive? What's on the table | C
New York’s Waldorf Astoria Hotel Finds a Rocky Path to Condo Conversion | W
Europe
Euro zone factory output growth stalled in April | R
Geopolitics & trade
In shift, Germany could back immediate EU ban on Russian oil | R
Ukraine evacuees flee to safety after ordeal in Mariupol steel works | R
Was Russia’s decision to cut off natural gas exports to Poland and Bulgaria a mistake? | Vox
Corporate finance
Spirit Airlines Rejects JetBlue Bid, Sticks With Frontier Deal | W
Crypto
Warren Buffett wouldn't spend $25 on 'all of the bitcoin in the world' | C
Beyond markets
California Four-Day Workweek Bill Is Shelved for Now | W
May 2 (Monday)
Latest Morning Briefing Executive Summary: The Big Leak
Spooked investors have driven valuation multiples down to the low end of our projected range and deposited the Nasdaq in a bear market and the S&P 500 back in correction territory. … Today we examine the causes and effects of global inflation. … Excessive US fiscal and monetary stimulus ignited the US inflation conflagration by triggering a demand shock that triggered a supply shock. When much of the stimulus leaked abroad (confirmed by trade data), it fueled global inflation. … Inflation has been deflating consumer spending on goods but not on services. But soon we expect durable goods inflation to peak and drop. Inflation has a history of being spikey. ... Finally, movie review: “WeCrashed” (+ + +) is about WeWork, not the stock market.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on April 25.
Markets
Warren Buffett Says Markets Have Become a ‘Gambling Parlor’ | W
After a Long Bull Run for U.S. Stocks, Emerging Markets Are Now the Place to Be, Says This Global Investment Strategist | BR
Central banks
Fed Prepares Double-Barreled Tightening With Bond Runoff | W
Climate & sustainability
An ESG Fund That Isn’t Afraid of Energy Stocks | BR
Global
Can Brazil help with food shortages around the world? | E
US
U.S. consumers shrug off high inflation, lean on savings to boost spending | R
Inflation forces consumers to ask: Can I live without it? | C
Americans Are Showing Inflation Fatigue, and Some Companies See a Breaking Point | W
Republican Hutchinson, at odds with Trump, eyes 2024 U.S. presidential run | R
Biden roasts Trump, GOP, himself at correspondents' dinner | C
The Great Resignation Is Just a Symptom of a Bigger Realignment | BR
Europe
Emmanuel Macron’s triumph, and the challenges he now faces | E
China
China 'in a very tough spot' as COVID-19 lockdowns hit economy, China Beige Book CEO explains
China claims Beijing is the true test of its pandemic policy | E
China’s martial rhetoric will not help it defeat covid | E
Geopolitics & trade
Russia Recasts Fight in Ukraine as War With the West | W
Putin Preparing Russians for War With NATO | Newsweek
Nancy Pelosi leads surprise delegation to Kyiv and Poland, and vows U.S. support | C
World War III is far more likely than anyone is prepared to admit
How rotten is Russia’s army? | E
Europe should levy a high tariff on Russian energy | E
How the war in Ukraine is changing Europe’s demography | E
Ukraine War Puts Spy Satellites for Hire in the Spotlight | W
Putin 'will have cancer operation in the near future' and 'hand over power to hardline ex KGB chief' | Daily Mail
Corporate finance
Elon Musk Needs to Make Twitter a Financial Success. Here’s How He Can Do It. | BR
Industries & companies
Cruise lines: The Cruise Crowd Is Back, Even if Investors Aren’t. Here’s Why It May Be Time to Take a Plunge. | BR
Pharma: Alzheimer’s Drugs Face a Crucial Test. It’s Unclear Whether Medicare Will Pay for Them. | BR
Retail: Retailers' Stocks Are Priced for a Recession. The Market May Be Too Negative. | BR
Virus
Covid-19 Cases Rise in the U.S., With Limited Impact | W
Covid Latest: Omicron Sublineages Can Evade Antibodies | B
Moderna says its vaccine for ages under 6 will be ready for U.S. review in June | C
Technology
Amazon’s Astro Robot Is Crazy, Creepy and Fun | W
April 30 (Saturday)
Latest Morning Briefing Executive Summary: China, Tech & Electricity
With nearly a quarter of China’s people locked in their homes by strict Covid policies, China’s economy is suffering, its policymakers are reacting, and ripple effects are spreading throughout the globe. Today, we examine some of these effects on US companies with business ties to China and on financial markets. … Also: Investors have sent tech stocks to the doghouse, their collective performance down nearly 20% ytd, and the MegaCap-8 hasn’t been spared. Indeed, Netflix and Meta are down 67% and 46% ytd. … And a look at virtual power plants, making electricity demand as adjustable as solar/wind supply is intermittent.
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YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on April 25.
Markets
Dow tumbles 900 points and Nasdaq drops 4% to close out a brutal month | C
Tech Rout Drags Nasdaq to Worst Month Since 2008 | W
Amazon, Google close out their worst months on Wall Street since 2008 | C
Exxon and Chevron, Buoyed by High Oil Prices, Shower Investors With Cash | W
Central banks
Big Fed rate hikes ahead, amid early signs hot inflation is peaking | R
Trio of Former Fed Officials Lament Central Bank’s Actions, See Good Odds of Recession | W
US
U.S. consumers shrug off high inflation, lean on savings to boost spending | R
U.S. Consumers Boosted Spending in March | W
Inflation Rises to Four-Decade High, According to the Fed’s Preferred Measure | W
Worker Pay and Benefits Grow at Record Pace, Pressuring Inflation | W
College-Educated Workers Help Unionize Places Like Starbucks | N
Europe
Eurozone Economy Keeps Growing but Recession Risk Looms | W
Japan
Japan's consumer prices rise in January, but at slower pace | R
China
China signals easing of tech squeeze in bid to lift economy | R
China Plans Reprieve for Tech Giants, Including Delaying New Rules, as Economy Slows | W
Industries & companies
Pharma: Pfizer’s Covid-19 Pill Failed Study Testing Its Preventive Use | W
Corporate finance
Elon Musk sold more than $8 billion in Tesla stock in recent days | C
Breakingviews: Elon Musk probably won’t buy Twitter | R
April 29 (Friday)
Latest Morning Briefing Executive Summary: China, Tech & Electricity
With nearly a quarter of China’s people locked in their homes by strict Covid policies, China’s economy is suffering, its policymakers are reacting, and ripple effects are spreading throughout the globe. Today, we examine some of these effects on US companies with business ties to China and on financial markets. … Also: Investors have sent tech stocks to the doghouse, their collective performance down nearly 20% ytd, and the MegaCap-8 hasn’t been spared. Indeed, Netflix and Meta are down 67% and 46% ytd. … And a look at virtual power plants, making electricity demand as adjustable as solar/wind supply is intermittent.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on April 25.
Markets
Tech Stocks Lead Rally; Nasdaq Rises 3.1% | W
U.S. Dollar Surges Amid Investor Jitters, Rising Yields | W
Yen Hits New 20-Year Low After Bank of Japan Reinforces Low-Rate Policy | W
Energy
Germany Drops Opposition to Embargo on Russian Oil | W
Iran Ramps Up Oil Exports as China Pulls Back on Russian Crude | W
Oil Middlemen Fueled Putin’s War Machine. Now They’re Getting Out. | W
Global supply chains
The Permian Basin Oil Field Is Running Out of Workers, Materials—and Cash | W
Intel CEO Sees Chip Shortage Lasting Into 2024 | W
US
U.S. GDP Falls 1.4% as Economy Shrinks for First Time Since Early in Pandemic | W
Economy Contracted in the First Quarter, but Underlying Measures Were Solid | N
Is It Better to Buy or Rent? Rising Mortgage Payments Make It Harder to Decide | B
Biden says he's not considering $50,000 in student loan forgiveness | C
Joe Manchin Says ‘Ludicrous’ Electric Vehicle Tax Credit Not Needed | B
China
Op-ed: The four big threats to China's economy | C
China’s Impossible Dream of Order | City Journal
Geopolitics & trade
Putin Really May Break the Nuclear Taboo in Ukraine | W
How the Ex-Chancellor Gerhard Schröder Became Putin’s Man in Germany
Blasts rock Kyiv during U.N. chief's visit, U.S. pledges new aid | R
After Russian Retreat, Ukraine’s Farmers Discover Fields Full of Mines | W
N.Korea's Kim calls for stronger military as nuclear test work 'well underway' | R
Industries & companies
Consumer discretionary: Amazon shares fall on bleak forecast and slowest growth since dot-com bust | C
Consumer discretionary: Amazon results and outlook fall short as warehouse, fuel costs soar | R
Tech: Apple shares dip after Tim Cook warns of a possible $8 billion hit from supply constraints | C
Climate & sustainability
An Inconvenient Truth About ESG Investing | HBR
Wind Power’s ‘Colossal Market Failure’ Threatens Climate Change Fight | B
California subpoenas Exxon for details on role in plastic pollution | C
Malnourished kids crowd hospital as Ethiopia hit by worst drought in 40 years | R
Virus
Moderna Asks FDA to Clear Its Covid Vaccine for Kids Under 6 | W
Beyond markets
What Ford, a 9-to-5 workweek pioneer, is learning about hybrid work | C
April 28 (Thursday)
Latest Morning Briefing Executive Summary: China, Tech & Electricity
With nearly a quarter of China’s people locked in their homes by strict Covid policies, China’s economy is suffering, its policymakers are reacting, and ripple effects are spreading throughout the globe. Today, we examine some of these effects on US companies with business ties to China and on financial markets. … Also: Investors have sent tech stocks to the doghouse, their collective performance down nearly 20% ytd, and the MegaCap-8 hasn’t been spared. Indeed, Netflix and Meta are down 67% and 46% ytd. … And a look at virtual power plants, making electricity demand as adjustable as solar/wind supply is intermittent.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on April 25.
Markets
Stocks Close Higher After Tech-Led Selloff | W
Nasdaq futures rise as market attempts comeback from April sell-off, Meta shares soar | C
U.S., European shares advance as euro dives to lowest since 2017 | R
Energy
Russia halts gas supplies to Poland and Bulgaria | R
Russian Supply Concerns Drive Natural-Gas Prices Higher | W
Russian Gas Stoppages Spur Europe’s Race for New Energy Supplies | W
Can Japan Keep the Lights On? The Ukraine War Upends a Big Energy Bet. | N
Oil edges lower as mass COVID testing begins in China | R
US
Hot Job Market, an Economic Relief, Is a Wall Street Worry | N
Administration signals student loan forgiveness decision may come soon | C
Geopolitics & trade
Russia’s New Economic Data Is Inconsistent on Impact of War and Sanctions | W
Industries & companies
Aerospace: Boeing Looked for Flaws in Its Dreamliner and Couldn’t Stop Finding Them | W
Aerospace: Boeing shares plunge on array of charges, 737 MAX target in doubt | R
Corporate finance
Investors fret over potential Musk U-turn in $44 billion Twitter buyout | R
Elon Musk wins shareholder lawsuit over Tesla-SolarCity deal | C
April 27 (Wednesday)
Latest Morning Briefing Executive Summary: Inflated Economy
Inflation is inflating corporate revenues: All 11 sectors of the S&P 500 boast rising forward revenues ytd, eight of them to record highs. It’s also inflating nominal economic growth even as real economic growth slows. This is bullish for earnings provided that companies can keep offloading higher costs to customers via pricing and provided that no recession comes along to stop that. … Also: We review the latest economic releases, which jibe with our stagflationary outlook for 2022. … And: The global food crisis. Food shortages and food inflation are bound to worsen, with dire implications for poorer nations around the world.
(subscribers' link)
YRI
Daily Markets Overview
Replay of Dr. Ed's webinar on April 25.
Markets
Stocks Fall as Dow Drops More Than 800 Points | W
Real Yields Wade Toward Positive Territory, Denting Stocks | W
Bitcoin
Fidelity to Allow Retirement Savers to Put Bitcoin in 401(k) Accounts | W
Millennials have solved the retirement crisis | MW
Central banks
Senate Confirms Brainard as Federal Reserve’s Vice Chairwoman | W
US
March Orders for Long-Lasting Goods Rose on Auto, Computer Demand | W
Opinion: Spending on consumer goods will likely plummet in the second half of the year | NN
Home-Price Growth Accelerated in February | W
The Hottest Places to Live Now Are Often the Most Affordable | W
Biden Seriously Considering Student-Loan Forgiveness, Officials Say | W
China
Covid Lockdowns Show Xi Jinping Puts Ideology Before China's Economy | B
China’s Xi Pushing to Beat the U.S. in GDP Growth Despite Covid Lockdowns | W
Geopolitics & trade
Poland and Bulgaria face Russian gas cut as Ukraine crisis escalates | R
Russia Tried to Sell a Huge Slug of Oil. Nobody Wanted It. | W
Industries & companies
Autos: GM will start tying executive compensation to electric vehicle targets | C
Autos: GM has 140,000 reservations for Chevrolet Silverado EV | C
Autos: Tesla stock closes down more than 12% after Musk's Twitter deal | C
Corporate finance
Twitter in Elon’s Hands Is No Idle Distraction | W
Virus
Weekly Covid deaths have dropped to lowest since March 2020, WHO says | C
More than half of Americans have had COVID infections, U.S. study shows | R
Climate & sustainability
Enphase 'tripling down' on Europe as Russia war sends power prices up | C
Consumer Brands Push for Clean-Energy Tax Credits | W
April 26 (Tuesday)
Latest Morning Briefing Executive Summary: Waiting for a Break
Investors are fretting that the Fed will slam on the monetary brakes, sending the economy hurtling down a ravine, but how legit are their concerns? Historical behavior of stock valuations and earnings estimates prior to feared and actual recessions offers perspective. Corrections usually reflect false alarms about impending recessions, whereas sustained bear markets reflect the real thing. … We also check more conventional leading economic indicators for perspective. … Plus: Fresh supply-chain disruptions resulting from China’s widespread lockdowns could trigger a recession there and potentially weigh on growth here. … And: We examine the latest stats on another of China’s homegrown problems: its birth dearth.
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 25.
Markets
U.S. Stocks Finish Volatile Session With Gains | W
Forget the FAANGs. It's a stock picker's market now | NN
Chinese Markets Tank as Investors Worry About Covid-19 Lockdowns | W
Currency & commodities
Column: Oil prices paralysed between Russia sanctions and China lockdowns: Kemp | R
Oil slumps 4% as Shanghai lockdowns stoke demand fears | R
Dollar ascends on China COVID fears, Fed rate hike pace | R
Central banks
Do Serious People Still Take Seriously the Fed and ‘Soft Landings’? | FO
US
Sen. Joe Manchin Pushes for Democratic Compromise on Climate Agenda | W
Biden reverses Trump move to open up more oil drilling in Arctic | C
Europe
Even in Defeat, Marine Le Pen Leads France’s Far Right Closer to Power | W
China
Beijing Orders Citywide Covid-19 Testing as Fears of Lockdown Spark Panic-Buying | W
Geopolitics & trade
Russia warns 'serious' nuclear war risks should not be underestimated | R
Higher inflation factors into review of tariffs on Chinese goods- White House | R
Corporate finance
Twitter Accepts Elon Musk’s Offer to Buy Company in $44 Billion Deal | W
Elon Musk’s deal to buy Twitter leaves many key questions unanswered | C
What Elon Musk Would Do With Twitter | W
Virus
U.S. FDA approves Gilead’s Covid-19 drug remdesivir for young children | C
April 25 (Monday)
Latest Morning Briefing Executive Summary: The Forces of Inflation vs The Forces of Deflation
The stock market is correcting again, fear is rising again, and valuations are sagging under the weight of a hawkish Fed and rising bond yields. Yet consensus expected S&P 500 earnings continues breaking records. With 2022 shaping up as a volatile year for stocks, we anticipate a rally following the current selloff. … Also: Might “stayflation” frustrate the Fed’s 2.0% inflation goal? … We explain our view of inflation as a tug-of-war between four inflationary forces and four deflationary ones. … And: Treasury Secretary Yellen calls for a new world order featuring a “unified coalition of sanctioning countries,” the exclusion of pariah nations, and the “friend-sharing” of supply chains. Movie: “Inventing Anna” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 18.
Markets
Oil prices extend losses as Shanghai lockdowns hit demand outlook | R
Central banks
Why the Federal Reserve has made a historic mistake on inflation | E
After getting inflation so wrong, can the Fed now get it right? | E
The perils of expanded balance-sheets | E
The danger of excessive distraction | E
The Fed Wants to Raise Rates Quickly, but May Not Know Where to Stop | W
US
Workers Are Changing Jobs, Raking In Big Raises—and Keeping Inflation High | W
Europe
Macron beats far-right rival Le Pen in French presidential election | C
China
China’s two-front fight to quash the virus and revive its economy | E
Covid-19 Cases Jump in Beijing as New Deaths Triple in Shanghai | W
Geopolitics & trade
Brussels prepares to hit Russia with 'smart sanctions' on oil imports, The Times says | R
Top U.S. Officials Meet With Zelensky in Kyiv | W
Poland’s prime minister says the West’s appeasement of Vladimir Putin must stop | E
Chinese political interference has Western spooks worried | E
Industries & companies
Communications services: Facebook Is Broken. Execs Say a Fix Won’t Come Fast. | BR
Media: What doomed CNN+? How rival strategies and executive intrigue fueled the streaming service’s rapid demise | C
Retail: Apple Store Workers Seek to Unionize, Following Efforts at Amazon, Starbucks | W
Corporate finance
Twitter is reportedly taking another look at Musk takeover bid | C
Climate
Russia’s War in Ukraine Could Have Environmental Impact That Lasts Decades | W
A Different Kind of Solar Power Attracts Attention | W
Virus
Have People Been Given the Wrong Vaccine? | BI
April 23 (Saturday)
Latest Morning Briefing Executive Summary: LNG, Credit & Green Buildings
Natural gas prices are higher than they’ve been in over a decade owing not to demand but supply issues. The crux of the problem: Europe’s need to find non-Russian sources of gas. Jackie reports on the factors that have been turning the screws on the natural gas market and looks at where the S&P 500 Energy sector stands after its huge runup. … Also: A look at how the high-yield, asset-backed, and municipal areas of the bond market are faring with the Fed in tightening mode. ... And: Some innovative green buildings blur the lines between indoors and out.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 18.
Markets
Dow Tumbles Nearly 1,000 Points as Stocks Extend Selloff | W
Why Midterm Election Years Are Tough for the Stock Market | N
U.S. bonds: Treasury yields rise following Powell rate hike remarks | C
Central banks
Fed's Mester casts doubt on the need for 'shock' interest rate hikes ahead | C
Global
Global Growth Ebbs in Face of Ukraine War, China Slowdown | W
US
How America Gave Up on Overtime for Workers | Time
The Best Job Markets Aren’t in the Biggest Cities | W
China
New Details of Shanghai Nursing Home Covid Deaths Suggest City Is Overwhelmed | W
Europe
Marine Le Pen’s Far-Right French Party to Pay Nearly $13 Million to Russian Military Contractor | W
Geopolitics & trade
'And who will come next?' warns Zelenskiy after Russian general eyes southern Ukraine | R
Ukraine Accuses Russia of Digging Mass Graves for Civilian Victims | W
Industries & companies
Consumer discretionary: How the “Amazon Way” is transforming the future of work - Vox
Communications services: Verizon Loses Subscribers and Warns of Inflation’s Toll | W
Media: Netflix and Facebook stock have plunged since tech's November peak | C
Retail: American Eagle pitches internal supply chain platform to retail rivals | C
Tech: As Europe Approves New Tech Laws, the U.S. Falls Further Behind | N
Tech: EU agrees on internet rulebook for Google, Facebook, other tech giants | R
Technology
Ukraine Sounds Alarm on Chinese Drones, Opening Skies to U.S. Startups | W
Climate
Democrats want EPA to investigate impacts of crypto mining | C
April 22 (Friday)
Latest Morning Briefing Executive Summary: LNG, Credit & Green Buildings
Natural gas prices are higher than they’ve been in over a decade owing not to demand but supply issues. The crux of the problem: Europe’s need to find non-Russian sources of gas. Jackie reports on the factors that have been turning the screws on the natural gas market and looks at where the S&P 500 Energy sector stands after its huge runup. … Also: A look at how the high-yield, asset-backed, and municipal areas of the bond market are faring with the Fed in tightening mode. ... And: Some innovative green buildings blur the lines between indoors and out.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 18.
Markets
U.S. Stocks Finish Lower as Bond Yields Rise | W
Wall Street ends down, oil gains as Powell suggests aggressive Fed policy | R
The West Is Still Buying Russian Oil, but It’s Now Harder to Track | W
Global
U.S. Treasury's Yellen, White House say World Bank needs major 'reboot' | R
Central banks
Powell says taming inflation 'absolutely essential,' and a 50 basis point hike possible for May | C
Fed's Powell, half-point hike in view, completes hawkish pivot | R
Fed’s Powell Seals Expectations of Half-Point Rate Rise in May | W
Chicago Fed President Charles Evans to retire in early 2023 | C
US
Mortgage Rates Continue to Rise | W
How the Supply Chain Crunch is Hurting California Farmers. | N
China
Shanghai says its lockdown will only be lifted in batches | R
China Covid lockdown: Workers in Shanghai struggle to get back to work | C
China's overseas coal ban sees 15 projects cancelled - research | R
Geopolitics & trade
Biden Says U.S. to Send Ukraine $800 Million in Military Aid | W
'I'm a Former Marine Training Ukrainians—The Russians Are Worse Than ISIS' | ampproject.org
Industries & companies
Autos: Honda developing three new electric vehicle platforms by 2030 -executive | R
Media: Netflix, Facing Reality Check, Vows to Curb Its Profligate Ways | W
Media: CNN+ Streaming Service Is Shutting Down a Month After Launching | W
April 21 (Thursday)
Latest Morning Briefing Executive Summary: LNG, Credit & Green Buildings
Natural gas prices are higher than they’ve been in over a decade owing not to demand but supply issues. The crux of the problem: Europe’s need to find non-Russian sources of gas. Jackie reports on the factors that have been turning the screws on the natural gas market and looks at where the S&P 500 Energy sector stands after its huge runup. … Also: A look at how the high-yield, asset-backed, and municipal areas of the bond market are faring with the Fed in tightening mode. ... And: Some innovative green buildings blur the lines between indoors and out.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 18.
Markets
Dow jumps 249 points on Wednesday, but the Nasdaq is dragged down by a big plunge in Netflix | C
Dollar’s Upward March Reaches a Nearly Two-Year High | W
Central banks
Fed's Daly says the economy can handle rate hikes, but a mild recession is possible | C
US
U.S. Economy Grows Moderately Amid High Inflation, Ukraine Invasion | W
March existing home sales fall, median price sets new record | C
This Inflation Is Demand-Driven and Persistent by Jason Furman | Project Syndicate
“The Great Resignation” Is a Great Exaggeration | The Nation
Bernie Sanders' team says he has 'not ruled out' 2024 bid | C
Europe
Macron, Le Pen clash in heated French election debate | R
Geopolitics & trade
Ukraine Needs $5 Billion Monthly to Keep Its Economy Afloat, IMF Chief Says | W
Russian Offensive Bears Down on Donbas as West Races to Supply Ukraine With More Weapons | W
Russia tests nuclear-capable missile that Putin calls best in world | R
From YouTube to Rutube. Inside Russia’s Influence Campaign. | W
Industries & companies
Autos: Tesla races ahead of rising raw material costs on price hikes | R
Airlines: Opinion: Get ready for crowded planes and higher fares this summer | NN
Media: Netflix stock plunges on shocking subscriber loss | C
Media: Legacy media disrupted Netflix with streaming offerings, now it risks similar fate | C
Climate & sustainability
Lithium costs a lot of money—so why aren’t we recycling lithium batteries? | Ars Technica
Corporate finance
Startup investors are worried the pandemic boom is about to end | Vox
Virus
Relief, confusion and disappointment as masks come off on planes | C
April 20 (Wednesday)
Latest Morning Briefing Executive Summary: Corporate Finance In Focus
Today, we roll up our sleeves, lift the hood, and take a close look at the mechanics of corporate finance. … We show how corporate America’s record levels of profits and cash flow are deployed. … We also show how a lack of understanding of corporate finance has given rise to some blatantly false notions of progressives—e.g., that share buybacks drive better stock-price performance and that money used repurchasing shares and paying dividends detracts from what’s available to spend on workers and capital investments.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 18.
Markets
Dow adds 499 points, Nasdaq climbs 2% as investors shake off slow start to week | C
Stocks Close Higher as Earnings Season Ramps Up | W
Oil prices rise 1% after sinking in previous session | R
Central banks
Fed's Bostic expresses caution about the pace of interest rate hikes | C
Global
IMF cuts global growth forecast due to "seismic waves" from Russia's war in Ukraine | R
US
Bank of America CEO says spending is healthy despite roaring inflation | C
U.S. forgives 40,000 student loans, provides aid to 3.6 million more | R
Why did Congress let the expanded child tax credit expire? | Vox
Geopolitics & trade
Russia begins a new phase of its war in Ukraine | E
New surrender deadline in Mariupol as West promises Ukraine more arms | R
Industries & companies
Airlines: Airports, Other Transit Split on Requiring Masks After Federal Mandate Is Dropped | W
Media: Roku, Disney, other streaming stocks slide after Netflix report | C
Media: Netflix is exploring lower-priced, ad-supported plans after years of resisting | C
Media: Netflix warns password sharing crackdown is coming | C
Pharma: How China’s Sinovac compares with BioNTech’s mRNA vaccine | E
Virus
Covid: TSA will not enforce mask mandate on public transit after court ruling | C
Biden administration will appeal lifting of mask mandate, if CDC agrees | R
Corporate finance
Blackstone Bets on Campus Housing With $13 Billion Acquisition | W
April 19 (Tuesday)
Latest Morning Briefing Executive Summary: How Will the Fed Stop The Wage-Price Spiral?
Can the Fed pull it off? Can it surgically subdue inflation without inflicting much collateral damage on the US economy? The now unanimously hawkish FOMC intends to try. Their current game plan seems to anticipate five increases of 50bps each, possibly at the next five FOMC meetings. … Meanwhile, we are on the lookout for signs of peaks in the latest inflation indicators; used car and truck prices are the first. … Rent and wages, on the other hand, are spinning upward along with prices in a mutually reinforcing spiral—calling into question the Fed’s optimism. … Also: A look at the causation loop between inflation and fiscal policy. ... Movie review: “Super Pumped: The Battle for Uber” (+ + +).
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 18.
Markets
Stocks waver on Monday as a big week for earnings gets underway, rates rise | C
Price of corn hits 9-year high as surge in commodities continues | C
Natural gas surges to highest level since 2008 as Russia's war upends energy markets | C
Central banks
Hot Economy, Rising Inflation: The Fed Has Never Successfully Fixed a Problem Like This | W
Global
World Bank Cuts 2022 Global Growth Outlook on Russia's Invasion of Ukraine | B
Treasury Secretary to meet with top finance ministers to address global food crisis | C
The taxman cometh… for the internet | The Hill
US
Fears of recession are everywhere — except the White House | P
Small Businesses Object to Rerouting of Covid-19 Aid | W
Homebuyers Discouraged by Rising Mortgage Rates, Prices, N.Y. Fed Survey Finds | B
Homeowner Groups Seek to Stop Investors From Buying Houses to Rent | W
Is College Worth It: Most Graduates Work in Other Fields | B
China
China’s Economy Grew 4.8% in First Quarter, Beating Expectations | W
China’s Covid-19 Restrictions Threaten Economic Recovery | W
Industries & companies
Autos: Rivian CEO on growth, Amazon vans, SPAC bubble and lower-priced EVs | C
Homebuilder: Homebuilder sentiment drops for fourth straight month | C
Retail: Apple retail union organizers want to be paid at least $30 per hour | C
Geopolitics & trade
In Ukraine’s South, Russian Occupiers Tighten the Screws | W
Russia Has Found No Place Yet to Invest Reserves After Sanctions | B
Corporate finance & crypto
Musk: Twitter board will be paid nothing if he acquires the company | C
Cutting-Edge Crypto Coins Tout Stability. Critics Call Them Dangerous. | W
Climate
European Green Energy Firms Often Fall Short on Financing | N
Virus
BA.2 Proves the Pandemic Isn’t Over, but People Are Over It | W
Florida judge overturns CDC mask mandate for planes and public transit | C
Leaving Covid safety to personal choice will 'come back to bite us,' ex-Obama health official says | C
April 18 (Monday)
Latest Morning Briefing Executive Summary: Inflation, Semis, Banks & Grocery Shopping
We’ve been on the lookout for signs of peak inflation, and we are deflated to report none to be seen in the latest PPI and small business survey releases. Instead, they telegraphed higher-for-longer inflation in a weakening stagflationary environment. … Semiconductor-related stocks have been beaten down ytd, but analysts expect double-digit earnings growth this year and next, aided by some fast-growing end markets. … Also: Expect smaller domestically focused banks to report stronger Q1 results than their big multinational counterparts. … And: Grocery shopping with no waiting in checkout lines or schlepping bags to the car? Yep: The supermarket industry is going high tech.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 11.
Markets
Bond Rout Promises More Pain for Investors | W
Bearish Yen JPY USD Bets Mount as Slumps Against Dollar for 12th Straight Day | B
Oil Is Going to Stay Above $100. There’s No Quick Fix. | BR
Sustainable Investing Failed Its First Big Test. A Reckoning Is Coming. | BR
Central banks
Biden to nominate former Treasury official Barr for Fed top regulatory job | R
Global
Recession Risks Duel Resilience Hopes in Global Economy Outlook | B
US
Goldman Sachs Sees U.S. Recession Odds at 35% in Next Two Years | B
Decade-High Mortgage Rates Pose Threat to Spring Housing Market | W
Several Million U.S. Workers Seen Staying Out of Labor Force Indefinitely | W
When Quitting Normalizes, Benefit to Low-Wage Workers May Subside | W
Odds of Getting Laid Off Are at Historic Lows in Tightest Labor Market in 50 Years | W
Some Care Workers Are Seeing a Bump in Pay. They’re Working to Make It Last. | N
New York City Companies Prepare to Put Pay Ranges on Job Listings | W
China
What China gets wrong | E
The way Chinese think about covid-19 is changing | E
Shanghai by the numbers: China's Covid lockdowns | C
Inside a Shanghai Mass Quarantine Center: No Showers, Lights On 24/7 | W
Geopolitics & trade I
Ukrainian Forces in Mariupol Rebuff Russian Ultimatum to Surrender | W
What will it cost to rebuild Ukraine? | E
What is at stake in Ukraine | E
Geopolitics & trade II
The Russian Defense Industry: A Distressed Brand
Atrocities in Ukraine War Have Deep Roots in Russian Military | N
Organized Crime and Corruption Reporting Project
WTO | 2022 News items - WTO Secretariat note examines impact of conflict in Ukraine on global trade and development
What Will Happen if Russia Defaults on Its Debt? | N
Geopolitics & trade III
China goes on the offensive over human rights | E
North Korean leader Kim observes missile test to boost nuclear capabilities | C
Taiwan says China's threats will only increase support for island | C
Industries & companies
Airlines: American Airlines' new CEO Robert Isom vows reliability as peak travel season kicks off | C
Autos: Car Prices Expected to Remain Elevated in 2022, Prolonging Buyer Pain | W
Energy: Biden administration to resume leasing for oil and gas drilling on federal lands | C
Financials: Big Banks’ Earnings Show a Clampdown on IPOs, M&A | BR
Climate
Weather Makers: How Industrial Wind Turbines Are Changing The World’s Climate
Virus
What Comes Next in the Covid Pandemic? Modelers Are Unsure but Say Antivirals Will Make a Big Difference. | BR
Beyond markets
Zuckerberg 'surrenders' after debut of 'Rigged' election film
April 15 (Friday)
Latest Morning Briefing Executive Summary: Inflation, Semis, Banks & Grocery Shopping
We’ve been on the lookout for signs of peak inflation, and we are deflated to report none to be seen in the latest PPI and small business survey releases. Instead, they telegraphed higher-for-longer inflation in a weakening stagflationary environment. … Semiconductor-related stocks have been beaten down ytd, but analysts expect double-digit earnings growth this year and next, aided by some fast-growing end markets. … Also: Expect smaller domestically focused banks to report stronger Q1 results than their big multinational counterparts. … And: Grocery shopping with no waiting in checkout lines or schlepping bags to the car? Yep: The supermarket industry is going high tech.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 11.
Markets
S&P 500, Nasdaq fall Thursday, notch weekly losses as investors assess earnings, inflation | C
U.S. Stocks Drop Amid Wave of Bank Earnings Reports | W
Central banks
Fed’s John Williams Says Half-Point Rate Rise Is Reasonable Option for May | W
US
High Gasoline Prices Take Up Big Share of March Retail Spending Increase | W
Spending More, Getting Less as Inflation Outpaces Retail Sales | W
Mortgage Rates Hit 5% for First Time Since 2011 | W
The ‘Hell or High Water Clause’ Is Tormenting Small-Business Owners | W
Biden Administration Rolls Out Policies Aimed at Helping Underserved Groups | W
China
China’s ‘Zero Covid’ Mess Proves Autocracy Hurts Everyone | N
China Covid-19 Lockdowns Spread Beyond Shanghai to Other Cities | W
Geopolitics & trade
Russian warship sinks; Ukraine says its missile is responsible | R
Opinion: Revoking trade with Russia will deliver a powerful blow to its economy | NN
Ukraine’s past and present intertwine as a war historian seeks refuge | R
Industries & companies
Airlines: Delta Air Lines Reports $940 Million Quarterly Loss But Says March Was Profitable | N
Airlines: American Airlines pilots' union sues carrier over training request | C
Consumer discretionary: Andy Jassy on inflation surcharge: Amazon can't keep absorbing costs | C
Energy: Oil Industry Objects to Fees, Permits to Mitigate Accidental Bird Killings | W
Energy: Cheniere Energy exec says surging U.S. natgas prices will spur production | R
Corporate finance
Elon Musk 'not sure' he'll be able to buy Twitter | C
Musk makes $43 billion offer for Twitter to build 'arena for free speech' | R
Virus
BA.2 Cases Rise, but Few Signs of a Covid-19 Surge So Far | W
Pfizer Says Covid-19 Booster in Children Ages 5 to 11 Sparked Immune Response Against Omicron | W
April 13 (Wednesday)
Latest Morning Briefing Executive Summary: On the Lookout For Peak Inflation
War, supply-chain disruptions, soaring labor and commodity costs, monetary tightening causing possible recession—pshaw! All the disturbing global and US economic developments of late haven’t shaken industry analysts’ confidence that their companies are headed for record revenues, earnings, and profit margins over coming months, as passing inflated costs through to customers has been a cake walk. Our analysis of forward revenues and earnings reveals that and more. … Also: We slice and dice March CPI data, inflation expectations, and wage inflation—ever on the lookout for “peak inflation,” which may show up in June or July. … And: Is the housing market cooling off?
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Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 11.
Markets
Stocks End Lower as Inflation Accelerates | W
Global stocks pare gains, bond yields slip on inflation data | R
Energy
Biden to Allow More Ethanol in Gas This Summer in Bid to Lower Prices | W
Central banks
Fed’s Best Path Is to Hike Rates to Neutral Rapidly, Barkin Says | B
US
U.S. Inflation Accelerated to 8.5% in March, Hitting Four-Decade High | W
Consumer prices rose 8.5% in March, slightly hotter than expected and the highest since 1981 | C
Federal Budget Deficit Narrowed 71% in March From Year Earlier | W
China
Chinese Stockpile Food as Covid-19 Concerns Ripple Out From Shanghai | W
Geopolitics & trade
Biden suggests Putin is a ‘dictator’ who has committed ‘genocide half a world away’ | C
Putin and Lukashenko falsely claim British operatives committed the atrocities in Bucha | C
In Ukraine, a ‘Full-Scale Cyberwar’ Emerges | W
Industries & companies
Consumer: Baby-Formula Shortage Prompts Rationing at Target, Kroger, Walgreens and CVS | W
Financials: U.S. Banks’ Pandemic Hot Streak Is Coming to an End | W
Media: CNN+ struggles to lure viewers, drawing under 10,000 daily users | C
Beyond markets
How Tech Companies Are Trying to Woo Employees Returning to Work | N
California considers a 32-hour workweek for larger companies | C
Children as Young as 8 Should Be Screened for Anxiety, Experts Recommend | W
April 12 (Tuesday)
Latest Morning Briefing Executive Summary: TINAC: There Is No Alternative Country
Why is the stock market defying the gravity of extremely grave situations? “TINA” may hold the answer: “There is no alternative” to stocks. … But now she’s been joined by “TINAC”—“there is no alternative country.” Global investors may be taking refuge in the US stock market as a safe haven in an unsafe world. … Today, we comparison-shop equity markets around the world and conclude that foreign stocks are cheaper but for several good reasons. … And: We look at why the US dollar is strong at a time of soaring commodity prices when usually the reverse is true.
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Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 11.
Markets
U.S. Stocks Drop as Bond Yields Climb | W
Investors Turn Cautious on Consumer Debt | W
China nudges listed firms, investors to buy stocks to stabilize market | R
Central banks
Fed’s Evans Says Good Possibility of 50 Basis Point Rate Rise in May | W
Global
Opinion | Globalization Is Over. The Global Culture Wars Have Begun. | N
US
March consumer inflation expected to be the hottest since 1981 | C
Everything Costs More, and That’s Disrupting Retirement for Many | W
New York Fed: Public Expectations for March 2023 Inflation Hit 6.6% Record | W
Home Builders Bypassing Individual Home Buyers for Deep-Pocketed Investors | W
With student-loan freeze, Biden subsidizes rich lefties | P
Japan
Japan's wholesale inflation stays near record on Ukraine war, weak yen | R
China
How China brutalizes its people to try to achieve ‘COVID Zero’ | P
U.S. State Department orders all non-emergency government staff in Shanghai to leave as Covid surges | C
Geopolitics & trade
Pentagon monitoring reports of possible Russian chemical weapons attack in Mariupol | C
Ukraine braces for new Russian offensive as Moscow dismisses rape allegations | R
Ukraine’s Zelensky Calls for More Military Aid Ahead of Battles in Eastern Regions | W
China Is Accelerating Its Nuclear Buildup Over Rising Fears of U.S. Conflict | W
Corporate finance
Honda to spend $64 billion on R&D as it revs up electric ambitions | R
Beyond markets
Google’s first week back: Marching bands, mayor visits, traffic jams | C
April 11 (Monday)
Latest Morning Briefing Executive Summary: Don’t Fight the Fed When the Fed Is Fighting Inflation
The war in Ukraine has heightened the odds of higher-for-longer inflation, tighter-for-longer monetary policy, and recession in the US and Europe, which we peg at 30% and 50%, respectively. … The global economy is stagflating, indicators suggest. … Will reining in inflation take just a nudge from the Fed or an all-out recession-triggering shove? We hunt for the answer in FOMC officials’ recent views and the latest inflation data. … Also: The Bond Vigilantes are back in the saddle again. … And: Stock investors are trying not to fight the Fed as it fights inflation—which should make for a volatile but upward climb to our 2022 and 2023 targets. ... Movie review: “Against the Ice” (+ + +).
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Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 4.
Markets
Why Stocks Are Rallying in the Midst of a War and Soaring Inflation | W
The Worst Quarter in Years for Bond Fund Investors Had Few Bright Corners | BR
Central banks
The credibility-challenged Fed is about to be overtaken by reality again | P
Energy
Gas Price Surge Fuels Fights at FedEx, Uber Over Who Will Pay | W
Shell, Thales, and 3 More Stocks to Play a Changing Europe | BR
European Countries Debate How to Cut Purchases of Russian Oil | W
Global
A New Global Food Crisis Is Building, World Bank Warns | BR
When China worries about food, the world pays | E
War’s Disruption to Ukraine’s Farms Seeds Global Food Crisis | N
US
Inflation Is Here to Stay. How to Adjust Your Portfolio. | BR
Few Cars, Lots of Customers: Why Autos Are an Inflation Risk | N
America's labor shortage is actually an immigrant shortage | CBS
School Reopening Mess Drives Frustrated Parents Toward GOP | W
Europe
France's Macron and Le Pen head for cliffhanger April 24 election runoff | R
Why Macron matters | E
China
Shanghai Has Recorded More Than 130,000 Covid Cases—and No Deaths | W
Shanghai residents question human cost of China's COVID quarantines | R
Geopolitics & trade
War to slash Ukraine's GDP output by over 45%, World Bank forecasts | R
Ukraine, Russia Gear Up for War’s Biggest Battles | W
As battle looms in Ukraine's east, Austrian leader to meet Putin | R
Desperate Ukraine tells U.S. 'bureaucracy' is no excuse for failing to provide critical weapons and ammunition | C
A Stricken Ukrainian City Empties, and Those Left Fear What’s Next | N
War crime charges won't be enough to deter Putin amid atrocities | C
Russia-Ukraine war has limited impact on Europe vacation bookings | C
Industries & companies
Airlines: JetBlue is cutting its summer schedule to avoid further flight disruptions | C
Autos: Big Rigs Are Going Electric. Barron's Drove One. | BR
Consumer discretionary: How Amazon plans to fix its massive returns problem | C
Financials: Bank Deposits Could Drop for First Time Since World War II | W
Retail: Retail Crime Is Hurting Companies and Making Inflation Worse. What Investors Should Know. | BR
Corporate finance
Stock Splits Are Popular Again. 5 Companies That Could Split Their Stocks Next | BR
Technology
Video shows what happens when a driverless car gets pulled over | C
Crypto
Crypto Industry Helps Write, and Pass, Its Own Agenda in State Capitols | N
Virus
The BA.2 Variant Is Spreading. Do You Need to Worry? | W
April 09 (Saturday)
Latest Morning Briefing Executive Summary: Fed’s Hawks, China’s New Priority & Europe’s Gas Seekers
The newly released minutes of the FOMC’s March meeting suggest that even the Committee’s long-time doves now are hawks. So expect upcoming rate hikes of 50bps, not 25bps. The Fed aims to tamp down inflation without igniting a recession; investors are skeptical, but we expect inflation will moderate later this year, bringing the doves back. … Also: Can China achieve its heady economic growth goals amid a Covid resurgence, strict lockdown policies, and all the economic disruptions caused by both? We doubt it. … And: A look at the odds arrayed against EU countries trying to wean themselves off Russian oil and gas.
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Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 4.
Markets
S&P 500, Nasdaq Fall While Bonds Extend Selloff | W
Dow climbs 100 points Friday, stocks post weekly losses after Fed comments | C
Benchmark Treasury yield hits 3-yr high; dollar index reaches 100 | R
Oil prices settle up 2%, post weekly loss on stockpile releases | R
A Market Mystery: The ‘Wheat Whale’ That Came Out of Nowhere | N
Global
Ukraine War Drives Food Prices to Record High | W
Central banks
Here's a look at inflation-fighting pros, cons of Fed raising rates | C
US
Interest-Rate Surge Ripples Through Economy, From Homes to Car Loans | W
As inflation bites, higher-income consumers are cutting back, too | C
Congress Punts on Funding Vaccines, Treatments as Covid-19 Hits Some Lawmakers | W
Biden Plan to Combat Inflation with U.S. Manufacturing Faces Skepticism | W
Americans Are Pushing Back on the Warehouse Construction Boom | W
Blue-Collar Workers Make the Leap to Tech Jobs, No College Degree Necessary | W
China
Shanghai’s Omicron Outbreak Corners Chinese Leader | W
Europe
France's Macron makes last-minute appeal to voters as Le Pen reaches all-time high in poll | R
Geopolitics & trade
Russian Missile Attack Kills Dozens at Railway Station in Eastern Ukraine | W
U.S. curbs Russian access to foreign fertilizers and valves | R
The dawn of financial warfare | FT
Ukraine War: Switzerland, Norway Join U.S. Group Limiting Tech for Russia | B
Ukraine Belongs in ‘European Family,’ EU Chief Von der Leyen Says on Kyiv Trip | B
Industries & companies
Autos: Elon Musk: Telsa may have to get into mining, refining lithium directly | C
Autos: Inside Tesla’s ‘Cyber Rodeo’ Opening Party at Austin, Texas Factory (TSLA) | B
Energy: Chevron, union negotiators to meet over California oil refinery strike | R
Financials: Big banks' earnings and a hot inflation report could sway markets in short holiday week | C
Financials: Morgan Stanley unveils family office unit, looking to serve richest of the rich | C
Restaurants: Starbucks Hires New Strategy Chief as More Baristas Unionize | W
Corporate finance
WarnerMedia, Discovery complete merger, become Warner Bros. Discovery | R
Beyond markets
Pinterest Will Remove Content Deemed Climate-Change Misinformation | W
April 08 (Friday)
Latest Morning Briefing Executive Summary: Fed’s Hawks, China’s New Priority & Europe’s Gas Seekers
The newly released minutes of the FOMC’s March meeting suggest that even the Committee’s long-time doves now are hawks. So expect upcoming rate hikes of 50bps, not 25bps. The Fed aims to tamp down inflation without igniting a recession; investors are skeptical, but we expect inflation will moderate later this year, bringing the doves back. … Also: Can China achieve its heady economic growth goals amid a Covid resurgence, strict lockdown policies, and all the economic disruptions caused by both? We doubt it. … And: A look at the odds arrayed against EU countries trying to wean themselves off Russian oil and gas.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 4.
Markets
Stocks Finish Higher, Bonds Extend Fed-Driven Selloff | W
Stocks rally late, 10-yr U.S. Treasury yield touches 3-yr high | R
Carnage is epic in bonds due to Fed's inflation error: Jim Bianco | C
Energy
Shell Warns of Up to $5 Billion Hit From Russia Exit | W
EU Backs Russian Coal Ban in First Punch at Energy Revenue | B
Central banks
Fed's James Bullard says interest rate policy is 'behind the curve' | C
Bank of Japan Stocked Up On ETFs In $450 Billion Buying Spree, Now They’re Stuck | B
US
US weekly jobless claims | C
Rising mortgage rates cause more home sellers to lower asking prices | C
Ketanji Brown Jackson confirmed to Supreme Court, first Black woman justice | C
New York UBI Program Focuses on New Moms, Pregnant Women | B
The new entitlement of the American consumer | Vox
China
Manufacturers Grind to a Halt in China as Covid Lockdowns Expand | W
China uses AI software to improve its surveillance capabilities | R
Geopolitics & trade
The Russian Patriarch Just Gave His Most Dangerous Speech Yet — And Almost No One in the West Has Noticed
Russians discuss killing civilians in radio intercepts by German intelligence | WP
How Ukraine Used a Ragtag Arsenal to Thwart Russia’s Air Attacks | W
Ukraine Calls for More Arms as It Girds for Heavier Fighting Against Russia in the East | W
Horrors of Ukraine’s Bucha Laid Bare on Yablunska Street | W
Industries & companies
Consumer discretionary: Walmart says it is raising pay for truck drivers, starting training program | C
Consumer discretionary: Walmart Dangles $110,000 Starting Pay to Lure Truck Drivers | W
Pharma: Medicare Limits Payments for Biogen’s Alzheimer’s Drug | W
Crypto
Crypto-Like Digital Dollar at Least Several Years Away, Yellen Says | W
Virus & climate
U.S. court reinstates Biden federal employee COVID vaccine mandate | R
Shanghai, in Lockdown, Struggles to Feed Itself | W
Rising rivers force more Sydney flood evacuations as rain eases | R
Technology
New lithium technology can help the world go green -- if it works | R
Beyond markets
How Many Billionaires Are There, Anyway? | N
April 07 (Thursday)
Latest Morning Briefing Executive Summary: Fed’s Hawks, China’s New Priority & Europe’s Gas Seekers
The newly released minutes of the FOMC’s March meeting suggest that even the Committee’s long-time doves now are hawks. So expect upcoming rate hikes of 50bps, not 25bps. The Fed aims to tamp down inflation without igniting a recession; investors are skeptical, but we expect inflation will moderate later this year, bringing the doves back. … Also: Can China achieve its heady economic growth goals amid a Covid resurgence, strict lockdown policies, and all the economic disruptions caused by both? We doubt it. … And: A look at the odds arrayed against EU countries trying to wean themselves off Russian oil and gas.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 4.
Markets
Tech Stocks Sink, Bonds Sell Off as Investors Study Fed Minutes | W
Treasury Yields Extend Climb Into Fourth Session | W
Bonds: 10-year yield rises to 3-year high as Fed plans a speedier policy tightening | C
Mocked as ‘Rubble’ by Biden, Russia’s Ruble Comes Roaring Back | B
Central banks
Fed Signals Faster Pace of Rate Increases, Likely Bond Runoff | W
Fed officials to take cleaver to balance sheet; 'many' back big rate hikes | R
Fed Lays Out Plan to Prune Balance Sheet by $1.1 Trillion a Year | B
US
What the 2008 Financial Crisis Tells Us About Today’s Inflation Surge | W
Homebuilders turn to mixed-use districts, master-planned communities | C
China
China Infrastructure Push Dwarfs U.S. Spending | B
Shanghai Workers Sleep at the Office as China Extends Covid-19 Lockdown | W
Geopolitics & trade
Russia hit with new round of U.S. sanctions as Biden decries 'major war crimes' | R
Ukraine seeks ruinous sanctions on Russia amid European hesitancy | R
U.S. sanctions Putin’s adult children, bans all new investment in Russia | C
Ukraine Urges Civilians to Flee Looming Russian Offensive in Eastern Regions | W
Hypersonic-Missile Delay Puts U.S. Further Behind Russia, China | B
‘We Will Kill You’: How Russia Silenced Its Antiwar Movement | W
Technology
SpaceX application to expand Starship Texas facility withdrawn by USACE | C
Virus
UK has detected a new Covid variant. Here’s what we know so far about omicron XE | C
April 06 (Wednesday)
Latest Morning Briefing Executive Summary: Another Earnings Season Seasoned with Inflation
Investors should have lots of questions for company managements during the upcoming earnings calls season. First-quarter macroeconomic and survey data paint a picture of modestly improving supply-chain problems but still high costs for manufacturers. For services providers, supply-chain and cost issues continue to strain their ability to meet demand. Profit margins should hold steady this year provided that price increases offset cost increases as we expect. … While earnings and revenue growth rates probably peaked during Q2-2021, analysts’ estimates suggest both remain solidly positive during Q1. … Also: Why the job market in Europe withstood the pandemic better than in the US.
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 4.
Markets
Markets Bet on Sharpest Fed Tightening in Almost Three Decades | B
Bonds: 10-year Treasury yield rises above 2.6% after Brainard speech | C
Global Bonds Slump to a Discount for First Time Since 2008 | B
Europe Market News: Stoxx 600 Drops as Investors Fret Over Fed’s Tightening | B
Euro slips to month-low as West prepares new Russia sanctions | R
Central banks
Key people from the Fed just spooked the markets — here's what they said | C
Fed’s Brainard Says Reducing Elevated Inflation ‘Is of Paramount Importance’ | W
Fed's Brainard sees balance sheet reduction soon and 'at a rapid pace' | C
Fed Minutes to Reveal Long-Awaited Details on Balance-Sheet Plan | B
BOJ will be 'alarmed' if yen crosses 130 per dollar, says ex-vice minister | C
ECB Needs Governments to Tackle Inflation Too, Panetta Says | B
US
The US Economy Is Booming. Why Are Economists Worrying About a Recession? | N
Yellen to Warn War Threatens ‘Enormous Economic Repercussions’ | B
Add Declining Immigration to Problems Weighing on the Labor Market | W
U.S. Trade Deficit Narrowed Slightly in February | W
New Fed study shows Biden owns our economic disaster | P
Europe
Germany Meat, Dairy Prices May Increase as Ukraine War Worsens Food Inflation | B
China
China’s Services Sector Posts Steepest Decline Since Pandemic’s Start | W
Geopolitics & trade
Russian forces pound key cities as West prepares new sanctions | R
Kyiv Residents Remain On Edge Despite Russian Retreat | W
Russia Sanctions: EU, US to Announce Penalties, Ban on New Investments | B
German coal importers say can handle Russian ban at a price | R
Ukraine’s Zelensky Calls for Removing Russia From U.N. Security Council After Alleged War Crimes | W
Survey: Nearly 70% of Americans worry about a nuclear attack. Here's what could happen | C
Industries & companies
Pharma: U.S. Owes Pfizer $5 Billion for Covid Pills, Half of Proposed Aid Package | B
Technology
Amazon to Spend Billions on Space Launches as SpaceX Ramps Up Satellite-Internet Service | W
Corporate finance
JetBlue's all-cash bid for Spirit Airlines complicates Frontier tie-up | C
Climate
IPCC report: Charts detail climate change | C
Virus
CDC director says high immunity in U.S. population provides some protection against omicron BA.2 | C
China’s Daily Covid Cases Top 20,000 as Isolation Expands | B
Shanghai eases child separation under COVID policy but extends lockdown | R
'So many bodies piled up': Hong Kong funeral services overwhelmed by COVID | R
April 05 (Tuesday)
Latest Morning Briefing Executive Summary: Certainly Lots of Uncertainties
There’s lots of uncertainty about what’s going to happen next in a slew of areas pertinent to investing, including whether the US economy is heading for a recession, how high inflation will go and what the Fed will do about it, how the world order is changing, and how to value stocks amid all this flux. The many unknowns have made for a volatile stock market so far this year. Today, we run through nine uncertainties that have been keeping investors guessing, sharing our analysis of each to shed what light we can. ... Also: More on the “CFO Put”—the notion that corporations flush with cash are providing stock market support via buybacks, dividends, and M&A.
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on April 4.
Markets
S&P 500 rises to start the week led by tech, Nasdaq jumps 1.8% | C
Tech Stocks Lead Market Rally | W
Russia Metals Continues to Sell Around the World Despite Invasion of Ukraine | B
Terra's $10 billion bitcoin buying spree may be 'catalyst' for sidelined investors: CNBC Crypto World
Energy
Oil jumps over 3% as deaths near Kyiv prompt talk of new sanctions | R
Russia maintains gas deliveries as Europe mulls tighter sanctions | R
Ukraine War Drives Countries to Embrace Renewable Energy—but Not Yet | W
US
America's job market is on fire. Here's why it doesn't feel like it | NN
With Inflation Not Letting Up, Shoppers Cut Back on Staples | W
Climate change could cost U.S. $2 trillion each year by 2100: OMB | C
Geopolitics & trade
Biden calls for Putin war crime trial over genocide in Ukraine | C
EU's new Russia sanctions: Steel, luxury goods, jet fuel and more | C
Release of Ukraine Intelligence Represents New Front in U.S. Information War With Russia | W
Corporate finance
AMD Returns to Deal Making With $1.9 Billion Purchase of Chip Specialist Pensando | W
Virus
Omicron sub-variant BA.2 makes up 72% of COVID variants in U.S. - CDC | R
April 04 (Monday)
Latest Morning Briefing Executive Summary: Inflating Earnings
Crosscurrents should continue to buffet the S&P 500’s forward P/E multiple in both directions, but the earnings portion of the equation should rise in the higher-for-longer inflationary environment we project. The S&P 500 is a good inflation hedge provided that the downward-blowing crosswinds continue to be offset by inflating earnings. … Today, we detail all the variables that go into our stock market assessment—including our stagflationary economic outlook; our estimates for corporate revenues, earnings, and profit margins; our target ranges for the S&P 500’s forward P/E and price levels this year and next; and the assumptions we’ve made to derive those targets. ... Movie review: “The Dropout” (+ + +).
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 28.
Markets
Inverted Yield Curve Could Be Sending a Bogus Recession Warning | BR
Economists Seek Recession Clues in the Yield Curve | W
Nickel-Market Failure Probed by U.K. Regulators | W
Central banks
Recession Risks Are Rising. Can the Fed Stick a Soft Landing? | BR
Energy
Ukraine’s Friends Refuse to Pay Russia Rubles for Gas. What Could Come Next. | BR
Russia maintains gas deliveries as Europe considers fresh sanctions | R
Can Germany cope without Russian gas? | E
US
JPMorgan CEO Jamie Dimon Says Big Risks Loom for the U.S. Economy | W
Is the Housing Market Going to Crash? With Rising Mortgage Rates and Sky-high Home Prices, First-Time Buyers Are Being Locked Out | BR
Great Resignation Isn’t Slowing and May Persist, Randstad Says | B
Wage Gains Show Signs of Slowing | W
Why America’s most successful anti-poverty programme is going cold | E
China
Xi Jinping’s ‘Common Prosperity’ Was Everywhere, but China Backed Off | W
Geopolitics & trade
Niall Ferguson: 7 Worst-Case Scenarios From Putin's Ukraine War | B
Op-ed: A new world order is emerging — and the world is not ready for it | C
Why Ukraine must win | E
The war makes China uncomfortable. European leaders don’t care | E
In Ukraine, New Reports of War Crimes Emerge as Russians Retreat From Kyiv Area | W
Photos of Bucha Massacre Drive EU Toward Adding Sanctions on Russia: Ukraine War | B
Flood of Refugees From Ukraine Mostly Are Finding Shelter in Private Homes | W
Industries & companies
Biotech: Biotech Stocks Have Taken a Beating. Here’s How to Play a Rebound. | BR
Biotech: Biotech Stocks, Once Booming, Enter Bear Territory | W
Financials: JPMorgan's Dimon warns of potential $1 bln loss from Russia exposure | R
Home Builders: Home Builders Are the Cheapest Stocks Around. Is It Time to Buy? | BR
Climate
The Great Green Lie: Wind & Solar Aren’t Saving The Planet, They’re Wrecking It
Virus
China Covid Variants and Omicron XE in U.K. Put Fresh Focus on Mutations | B
April 02 (Saturday)
Latest Morning Briefing Executive Summary: Financials, Defense & Fusion
Today, Jackie takes a timely look at prospects for the S&P 500 Investment Banking & Brokerage industry. If the buoyant reception investors gave to Jefferies’ challenged but better-than-expected Q1 results is a bellwether, the industry may be poised to reverse its sector-lagging streak. … Also: A look at how the fiscal 2023 defense budget may take shape as it winds its way through Congress. … And: Fusion holds immense promise for producing carbon-free energy—if scientists can clear a big hurdle. They’re making progress.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 28.
Markets
Stocks Close Higher, Bond Yields Rise After Jobs Report | W
Dow climbs more than 100 points as Wall Street begins second quarter on a positive note | C
What Is a Yield Curve and Why Are Investors Worried? | Morningstar
U.S. bonds: Key part of yield curve 'inverts' as short-term rates jump after jobs report | C
Central banks
Eurozone Inflation Soars to 7.5%, Raising Pressure on ECB | W
US
U.S. March Jobs Report Shows Strong Hiring Momentum | W
Americans Were Great About Paying Their Debts in the Pandemic. Don’t Expect It to Last. | W
Bernie Sanders Is Wrong About the American 'Oligarchs' | reason.com
China
Shanghai’s Workers Sleep on Floors to Keep Factories Going Amid Covid-19 Lockdown | W
Geopolitics & trade
Vladimir Putin’s 20-Year March to War in Ukraine—and How the West Mishandled It | W
Russian Strategy in Ukraine Shifts After Setbacks, and a Lengthy War Looms | W
Chinese Agents Hire Private Eyes to Harass Dissidents in U.S., Officials Say | W
Virus
Shanghai Battles Covid-19 Outbreaks in Another Elderly-Care Hospital | W
Myocarditis risk higher after Covid infection than vaccination, CDC finds | C
Meta says employees won't need Covid boosters to come to U.S. offices | C
Beyond markets
Opinion: The Zelensky deepfake is a warning for Corporate America | NN
April 01 (Friday)
Latest Morning Briefing Executive Summary: Financials, Defense & Fusion
Today, Jackie takes a timely look at prospects for the S&P 500 Investment Banking & Brokerage industry. If the buoyant reception investors gave to Jefferies’ challenged but better-than-expected Q1 results is a bellwether, the industry may be poised to reverse its sector-lagging streak. … Also: A look at how the fiscal 2023 defense budget may take shape as it winds its way through Congress. … And: Fusion holds immense promise for producing carbon-free energy—if scientists can clear a big hurdle. They’re making progress.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 28.
Markets
Stocks Finish Lower as U.S. Eyes Reserve Release | W
Oil prices slide as Biden announces largest-ever Strategic Petroleum Reserve release | C
2-year Treasury yield tops 10-year rate, a 'yield curve' inversion that could signal a recession | C
Biden to release oil from Strategic Petroleum Reserve to cut gas prices | C
Global
This Is What Happens When Globalization Breaks Down | N
US
The Fed's preferred inflation gauge rose 5.4% in March, the highest since 1983 | C
Inflation Weighed on Consumer Spending Growth in February | W
Here's what's next for the US jobs recovery | NN
U.S. Jobless Claims Edge Higher Amid Tight Labor Market | W
U.S. to Make 35,000 More H-2B Visas Available for Seasonal Workers | W
Europe
Putin tells Europe: Pay in roubles or we'll cut off your gas | R
China
China's Covid-Zero Strategy: What Could Xi Jinping Do Next? | B
China Plans New Restrictions in Its Booming Live-Streaming Sector | W
Geopolitics & trade
Russians hand control of Chornobyl nuclear plant back to Ukraine, IAEA says | C
U.S. sanctions a global network helping Russian military evade export controls | C
U.S. Sanctions Russian Tech Companies, Whole Sectors of Russian Economy | W
Industries & companies
Pharma: House Passes Bill Capping Insulin Costs at $35 a Month | W
March 31 (Thursday)
Latest Morning Briefing Executive Summary: Financials, Defense & Fusion
Today, Jackie takes a timely look at prospects for the S&P 500 Investment Banking & Brokerage industry. If the buoyant reception investors gave to Jefferies’ challenged but better-than-expected Q1 results is a bellwether, the industry may be poised to reverse its sector-lagging streak. … Also: A look at how the fiscal 2023 defense budget may take shape as it winds its way through Congress. … And: Fusion holds immense promise for producing carbon-free energy—if scientists can clear a big hurdle. They’re making progress.
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 28.
Markets
Dow, S&P close lower after 4 days of gains as Russia bombs Ukraine | R
U.S. bonds: Treasury yields fall as investors keep watch over bond spreads | C
Explainer: Why an inverted yield curve may not be all bad for U.S. banks | R
Big Stock Sales Are Supposed to Be Secret. The Numbers Indicate They Aren’t. | W
SEC Proposes New Disclosure Requirements for SPACs | W
Euro holds at one-month high, yen set for worst month since 2016 | R
Energy
Oil prices tumble more than $5 a barrel as Biden weighs massive reserves release | R
Biden administration weighs massive draw from emergency oil reserve - sources | R
Biden’s Global Quest for Oil Triggers Political Pushback | W
The LNG Export Boom Is Draining U.S. Natural-Gas Supplies and Lifting Prices | W
Central banks
Fed’s Esther George Backs Swift Move to Neutral Monetary Policy Setting | W
Investors believe the biggest threat to the markets now is a Fed misstep, CNBC survey shows | C
US
Job Openings Ease Slightly From Record Highs | W
It Isn’t Just Tom Brady—More People Are Coming Out of Retirement | W
Positive Drug Tests Among U.S. Workers Hit Two-Decade High | W
Biden's plan to 'tax the rich' unlikely to stop with billionaires | TheHill
White House blasts Trump's call for Putin to release info on Hunter Biden | R
China
China's March factory activity likely shrank amid virus outbreaks - Reuters poll | R
Europe
Europe Woos Qatar for an Alternative to Russian Gas | W
Geopolitics & trade
U.S. sends 100 killer drones called Switchblades to Ukraine | C
Russia Plays Down Progress in Peace Talks, Intensifies Attacks in Eastern Ukraine | W
Sanctioned or not, Russians abroad find their money is 'toxic' | R
The U.S. Sanctions a Russian Oligarch—but Exempts His Companies | W
Virus
Despite High Covid-19 Case Counts, Asian Nations Learn to Live With the Virus | W
U.S. to end COVID-era order blocking migrants at Mexico border, sources say | R
Biden warns U.S. won't have enough Covid vaccine shots without aid from Congress | C
Beyond markets
Hubble Space Telescope Spots Most Distant Star Ever Seen | W
March 30 (Wednesday)
Latest Morning Briefing Executive Summary: It’s Still a Bull Market
March 8 may have marked the stock market’s bottom for this year; it now seems rapidly to be approaching a new record high as investors turn to stocks as an inflation hedge. The fog of war had masked the outlook, but the long-term bull market, punctuated by panic attacks, remains intact. We peg the S&P 500’s upside potential at 5000-6000 next year. … Also: We examine how the S&P 500 has performed historically during ups and downs of both the business cycle and the monetary policy cycle. … And: Melissa examines the economic toll Putin’s war is taking on Europe and how European policymakers are responding.
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 28.
Markets
Inversion of key U.S. yield curve slice is a recession alarm | R
Central banks
Senate Prepares Confirmation Vote for Lisa Cook as Fed Governor | W
Fed’s Harker Worried About High Inflation, Open to Big Rate Increases | W
Supply-chains
New Supply Chain Risk: 22,000 Dockworkers Who May Soon Strike | N
US
Home-Price Growth Accelerated in January | W
There are now a record 5 million more job openings than unemployed people in the U.S. | C
Why pay raises alone won't help fill America's 11 million open jobs | C
U.S. House panel to hold hearing on gas prices with oil company CEOs | R
Opinion | New York Can Build More Affordable Housing, Fast. Here’s How. | N
How the radical left is pushing property owners to the brink | P
China
Shanghai Lockdown Adds to China’s Economic Woes | W
Geopolitics & trade
Russia repositions troops away from Kyiv, marking a shift in the war | C
Ukraine Proposes Neutral Status With Guarantees, and Zelensky Seeks More Western Help | W
Russia Built Parallel Payments System That Escaped Western Sanctions | W
U.S. Targets Oligarchs’ Hidden Assets, Russian Military Supply Lines | W
Industries & companies
Logistics: FedEx CEO says the company will make ‘an enormous effort’ toward AV trucks in June | C
Virus
Top FDA official says fully vaccinated Americans may need more Covid shots this fall | C
Second Covid-19 Booster Shot Endorsed by FDA, CDC for Adults 50 and Older | W
CDC: Majority of U.S. has Covid antibodies, what that means for you | C
March 29 (Tuesday)
Latest Morning Briefing Executive Summary: Three Related Delusions
The ripple effects of three delusions held in high places have triggered a host of interrelated global problems. Putin’s delusion about Ukraine’s sovereignty has led to war and related supply shortages of crucial commodities, which are exacerbating runaway inflation. … Powell’s delusion that the inflation outlook is more benign than it really is has misled bond investors. … But the bond market is finally shedding its delusions and acting more predictably. … How high might the 10-year Treasury bond yield go during this year of rising interest rates and stagflation? We project 3.00% by year-end.
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 28.
Markets
Stocks Finish Choppy Session Modestly Higher | W
Oil Prices Fall as Lockdowns in China Weigh on Demand | W
Yen Hits Lowest Level Since 2015, and Japan, U.S. Are OK With That | W
Bond market is flashing a warning sign that a recession may be coming | C
Central banks
How Russia’s Central Bank Engineered the Ruble’s Rebound | W
US I
Federal Budget Proposal: Biden Pitches $5.8 Billion Plan With Tax Hike on Rich | B
Biden's 2023 budget would hike taxes on the ultra-rich and corporations, boost defense spending | C
Biden says budget targets Trump's 'fiscal mess,' raises taxes on wealthy | R
U.S. Army Troops Would Drop Below One Million in New Budget Proposal | B
US II
How Bad Inflation Might Get, According To The Companies That Will Raise Prices | FO U.S. Healthcare Spending Growth Slowed in 2021 After Covid-19 Surge | W
Behind the great NYC eviction tsunami that never happened | P
Industries & companies
Tobacco: Walmart Stops Selling Cigarettes in Some Stores | W
Geopolitics & trade
Ukraine sets ceasefire goal for new Russia talks, but breakthrough looks distant | R
Ukraine and Russia Prepare for Talks in Turkey as Russian Missiles Hit Cities | W
Roman Abramovich and Ukrainian Peace Negotiators Suffer Suspected Poisoning | W
Biden Says Putin Remark Reflected His Outrage Over Invasion, Not Policy Change | B
Corporate finance
HP Makes Bet on Hybrid Work With $1.7 Billion Deal | W
Virus
Shanghai’s Lockdown Tests Covid-Zero Policy, and People’s Limits | N
Covid Vaccines: World Moves From Shortages to Possible Glut of Shots | B
March 28 (Monday)
Latest Morning Briefing Executive Summary: Twists & Turns of the Yield Curve
Two different yield-curve spreads are sending contradictory signals, and one of them is giving some investors the recession heebie-jeebies. But the other, more “official” yield-curve spread suggests no recession in sight, and ditto most other leading indicators. We see a stagflationary environment this year, with real GDP growing an average of 2.0% per quarter and inflation remaining persistent. … Also: A couple of short-maturity spreads relative to the federal funds rate likewise signal no recession. And we look to the Fed for insights on its chances of executing a soft landing and on the significance of various spreads.
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 21.
Markets
Stocks could take their cue from oil, inflation and interest rates in the week ahead | C
The Riskiest Bets in the Stock Market Are the Most Popular | W
Central banks
The Fed Might Raise Rates by a Half-Point. How It Could Play Out. | BR
Fed’s Best Hope Increasingly Looks Like a ‘Semi-Hard’ Landing | B
Energy
Oil Prices Stay High as Russian Crude Shortage Hits Market | W
Natural-Gas Industry Gets Boost as Biden Shifts Stance | W
Ukraine War Drives Up Cost of Wind, Solar Power | W
Why energy insecurity is here to stay | E
Cutting fuel taxes is a bad idea | E
US
Biden job approval fall to lowest point, amid Russia and inflation worry | C
President Joe Biden to propose new 20% minimum billionaire tax | C
Capital Spending Boom Helps Raise Productivity, Contain Costs | W
The Great Resignation Is Beginning to Reverse Course. | BR
What happens when Amazon comes to town | E
Europe
The EU’s unity over Ukraine has given it surprising heft | E
Geopolitics & trade I
Volodymyr Zelensky on why Ukraine must defeat Putin | E
Ukraine willing to be neutral, says Russia wants to split nation | R
How Vladimir Putin provokes—and complicates—the struggle against autocracy | E
Putin Doesn’t Realize How Much Warfare Has Changed | The Atlantic
Biden says Putin 'cannot remain in power' in sweeping speech on Russian invasion of Ukraine | C
Biden Team Seeks to Temper Remark on Putin as U.S. Allies Object | B
Geopolitics & trade II
U.S.-China Economic Decoupling Is Under Way Because of the Russian War | BR
Putin, Xi and the End of the Global Economy as We Know It | B
Xi’s gamble on Putin may be the most dangerous of his 9 years in power | C
Industries & companies
Media: Netflix and Other Streaming Companies Are Winning Hollywood. Why Investors Are Losing. | BR
Tech: Everyone Thinks Rising Interest Rates Are Bad for Tech Stocks. But Are They? | Institutional Investor
Technology & cryptocurrency
Welcome to the Very Meta World of Virtual Real Estate | BR
Crypto: Britain to reveal stablecoin regulation plans, sources say | C
Virus
Sweden—Once Mocked for Its COVID Strategy—Now Has One of the Lowest COVID Mortality Rates in Europe | ampproject.org
China must eventually learn to live with the coronavirus | E
Pfizer, Moderna and J&J Face Shareholder Pressure to Broaden Covid-19 Vaccine Access | W
Beyond markets
Inside Vanguard Mutual Fund Company With Bogle Gone, Tensions Are Brewing | B
From GM to Powerade, Brands Pitch Mental Health | W
March 26 (Saturday)
Latest Morning Briefing Executive Summary: Cybersecurity, Transports & Food
Corporate America’s cybersecurity budgets are bound to rise after the White House warned that Russian cyberattacks appear imminent and briefed the likely targets. So Jackie examines the implications for cybersecurity software providers. … Also: The transportation industries—rail, truckers, and airlines—are staring up a mountain of challenges. Yet the S&P 500 Transportation index has been outperforming the broad S&P 500 index so far this year. … And: The Ukraine war is highlighting vulnerabilities in global food distribution systems. Vertical indoor farming could be part of the solution—eventually.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 21.
Markets
S&P 500 rises Friday, posts second winning week in a row | C
Surging Stock Markets Turn a Blind Eye to Fed at Their Own Risk | B
Chinese Stocks: What Went Wrong | Morningstar
U.S. bonds: 10-year Treasury yield rises to 2-year high of 2.5% as investors bet on aggressive Fed | C
Morning Bid: Now even Japan seems ok with rising bond yields | R
Commodities
U.S., EU strike LNG deal as Europe seeks to cut Russian gas | R
Lumber Rally Cools With Transport Snarls Easing, Buyers Balking | B
Central banks
The Fed Bets on a ‘Soft Landing,’ but Recession Risk Looms | N
Fed's Williams: Fed Can Boost Rates By 50 Basis Points if Needed | W
US
Homebuyers Hit With U.S. Mortgage Rates Surging Most Since 1994 | B
Home sales fall in February ahead of key spring selling season | C
Mortgage rate soars closer to 5% in its second huge jump this week | C
Buying a Home in Atlanta Has Become Unaffordable, Fed Data Show | B
The tech exodus from California? It was a bust | LA Times
Europe
Europe’s Economy Slows as Ukraine War Sends Costs Soaring | W
Geopolitics & trade I
Russia reframes war goals as Ukrainians advance near Kyiv | R
Russia Says 'Main' Focus of Ukraine Operation Is on Donbas: Interfax | B
How Bill Clinton Sealed Ukraine’s Fate | W
What Are War Crimes? Could Vladimir Putin Be Tried at ICC? | B
Exclusive: U.S. assesses up to 60% failure rate for some Russian missiles, officials say | R
U.S. urges China and Russia to send strong message to North Korea after missile launch | R
Geopolitics & trade II
China Seeking Details on Russia Sanctions, Easing U.S. Concerns of Evasion | B
Exclusive: China's Sinopec pauses Russia projects, Beijing wary of sanctions | R
Treasury Secretary Janet Yellen sees no need for China sanctions over Russia war | C
U.S. to Sanction Companies Providing Technology for Russian Military, Intelligence Services | W
Industries & companies
Airlines: Discount airfares rising thanks to higher fuel costs, demand, Frontier CEO says | C
Autos: GM to halt pickup truck production in Indiana due to chip shortage | C
Climate
Thinning Antarctic ice shelf finally crumbles after heatwave | R
March 25 (Friday)
Latest Morning Briefing Executive Summary: Cybersecurity, Transports & Food
Corporate America’s cybersecurity budgets are bound to rise after the White House warned that Russian cyberattacks appear imminent and briefed the likely targets. So Jackie examines the implications for cybersecurity software providers. … Also: The transportation industries—rail, truckers, and airlines—are staring up a mountain of challenges. Yet the S&P 500 Transportation index has been outperforming the broad S&P 500 index so far this year. … And: The Ukraine war is highlighting vulnerabilities in global food distribution systems. Vertical indoor farming could be part of the solution—eventually.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 21.
Markets
U.S. says it is discussing further coordinated oil release with allies | R
Fertilizer Prices Surge as Ukraine War Cuts Supply, Leaving Farmers Shocked | W
Gasoline prices are hitting $6 in some parts of the country and summer driving season isn’t here yet | C
Nvidia, Intel lead rally in chip stocks as optimism on economy boosts riskier assets | C
Commodities
War-Fueled Global Hunger Catastrophe On The Way With Solutions Tough To Come By | FO
US energy and the economy – 3 key facts to know as Russia-Ukraine crisis continues | FO
Russia's days as an energy superpower are coming to an end | NN
US
U.S. Jobless Claims Fall to 187,000, Lowest Level Since 1969 | W
Trump sues Hillary Clinton, DNC over 'unthinkable' Russia 'plot' in 2016 election | P
Biden says he’d be ‘very fortunate’ to face Trump in 2024 presidential election | C
Mortgage Rates Hit Fresh Three-Year High | W
Never Have So Few Homeowners Had Reason to Refinance | B
Wall Street bonuses jumped 20 percent to a record, but the boom may be short-lived. | N
These Empty-Nesters Are Upsizing to Their Forever Home | W
Europe
Europe’s Economy Slows as Ukraine War Sends Costs Soaring | W
U.S tech giants face tough new rules as EU countries, lawmakers clinch deal | R
Geopolitics & trade I
Biden says U.S. would ‘respond’ to Russia if Putin uses chemical or biological weapons | C
Biden Calls for Russia to Be Expelled From G-20 | W
West assails Russian 'barbarism' as Ukrainians shelter from bombardment | R
Opinion | Meet Alexander Dugin, author of Putin’s deadly playbook | WP
Geopolitics & trade II
BlackRock’s Larry Fink, who oversees $10 trillion, says Russia-Ukraine war is ending globalization | C
For Years, Poland Warned of the Russian Threat. Now, the West Is Listening. | W
EU leaders send a message to China: Use your leverage to stop Putin | C
U.S. reinstates 352 product exclusions from China tariffs | R
Freeze and seize? EU struggles to target oligarchs' assets | R
U.S. Will Admit 100,000 Refugees Fleeing Ukraine, White House Says | W
Industries & companies
Pharma: FDA Rejects Eli Lilly’s China-Developed Cancer Drug | W
Cybersecurity
U.S. Charges Russian Government Hackers With Campaign of Global Energy Cyberattacks | W
Virus
Covid-19 Cases Are Up in the U.K. Does That Mean the U.S. Is Next? | W
March 24 (Thursday)
Latest Morning Briefing Executive Summary: War & Peace
Horrific as it is, Russia’s war in Ukraine hasn’t stopped the US stock market from advancing; investors know that geopolitical crises can present buying opportunities. The war has had significant impacts on commodity prices, inflation expectations, and certain stock market sectors. … The Energy and Materials sectors are benefiting from analysts’ higher revenues and earnings sights, and so are companies generally. Faster inflation is boosting revenues expectations to record highs, and the fact that earnings are following suit suggests most companies are able to pass their higher costs on to customers. ... Also: For auto makers and their suppliers, the war is escalating already extreme supply-chain challenges and upending the global playing field in multiple ways.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 21.
Markets
Dow Falls More Than 400 Points, Oil Prices Jump | W
Standardizing ESG criteria will reduce confusion: S&P Global CEO | C
Central banks
The Odds Don’t Favor the Fed’s Soft Landing | W
Fed Interest-Rate Hike: Officials Take Aim at Inflation, Ready to Act With Vigor | B
The coming federal weaponization of banking | TheHill
Energy
Global Oil Demand Threatened by China’s Tight Covid Lockdowns | B
Gasoline Demand in U.S. Starts to Show Cracks at Unlikely Time | B
Russia’s Oil-and-Gas Industry Is Starting to Feel the Bite of Sanctions | W
Putin Wants Unfriendly Countries to Pay Rubles for Russian Gas | B
U.S.-Europe Energy Agreement Expected Friday, Biden Aide Says | B
Will War Make Europe’s Switch to Clean Energy Even Harder? | N
Germany’s leader says a boycott of Russian energy would imperil ‘hundreds of thousands of jobs.’ | N
China
China’s Divorce Rate Is Down, but So Are Marriages | N
Geopolitics & trade
Volodymyr Zelenskiy’s Virtual World Tour Proves a New Weapon in Russia War | B
Biden arrives in Europe for Ukraine war summits, NATO to bolster eastern flank | R
NATO to bolster troops in Bulgaria, Hungary, Romania and Slovakia | C
U.S. government formally accuses Russia of committing war crimes in Ukraine | C
Weapons for Ukraine’s Fight Against Russia Flow Through Small Polish Border Towns | W
NATO Estimates Steep Russian Losses in Ukraine as Biden Arrives in Europe | W
Biden arrives in Europe for Ukraine war summits, NATO to bolster eastern flank | R
Putin's Bombers Could Devastate Ukraine But He's Holding Back. Here's Why | msn.com
Industries & companies
Airlines: U.S. airline CEOs urge Biden to lift COVID mask mandate -letter | R
Autos: High Gasoline Prices Have Consumers Thinking Electric | W
Retail: Walmart sues BJ's Wholesale claiming theft of Sam's Club self-checkout tech | C
Tech: Inside ASML, the company advanced chipmakers use for EUV lithography | C
Cybersecurity
Powell Flags Risks of New Digital Financial Products | W
Virus
Covid: Omicron BA.2 subvariant will soon dominate in U.S., but Fauci doesn't see a surge | C
Moderna Seeks FDA Approval for 2 Covid Boosters, 4 Vaccines in Total | B
Opinion | The Next Covid Wave Is Probably Already on Its Way | N
Beyond markets
Why Global Supply Chains May Never Be the Same (Video documentary) | W
Toronto’s Tech Industry Is Quietly Booming | N
Mark Zuckerberg and Meta’s Leadership Take Remote Work to the Extreme | W
March 23 (Wednesday)
Latest Morning Briefing Executive Summary: War & Peace
Horrific as it is, Russia’s war in Ukraine hasn’t stopped the US stock market from advancing; investors know that geopolitical crises can present buying opportunities. The war has had significant impacts on commodity prices, inflation expectations, and certain stock market sectors. … The Energy and Materials sectors are benefiting from analysts’ higher revenues and earnings sights, and so are companies generally. Faster inflation is boosting revenues expectations to record highs, and the fact that earnings are following suit suggests most companies are able to pass their higher costs on to customers. ... Also: For auto makers and their suppliers, the war is escalating already extreme supply-chain challenges and upending the global playing field in multiple ways.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 21.
Markets
Stocks bounce as investors raise rate hike expectations after Powell’s comments | C
There’s Only One Stock-Market Sector in the Green This Year | W
Gas Prices Shoot Up at Fastest Rate on Record | W
Central banks
The Fed is targeting a soft landing. Getting it wrong means recession | NN
Traders bet on an aggressive Fed and predict half-point rate hikes in May, June | C
US
Flattening Yield Curve Stirs Recession Debate | W
While the war in Ukraine rages, America's domestic challenges continue to pile up | The Hill
Mortgage rates are surging faster than expected, prompting economists to lower their home sales forecasts | C
Student-Loan Freeze Saves Borrowers Nearly $200 Billion as Biden Considers Extension | W
Russia-Ukraine
Ukraine’s Air Defense Becomes Its Surprising Trump Card Against Russia | W
U.S. Sending Soviet Air Defense Systems It Secretly Acquired to Ukraine | W
U.S. Rethinks Uranium Supply for Nuclear Plants After Russia’s Invasion of Ukraine | W
U.S., Europe to announce new sanctions on Russia when Biden visits Brussels | R
Flood of Refugees From Ukraine War Tests Europe’s Capacity to Welcome Them | W
Ukraine’s Engineers Battle To Keep The Internet Running While Russian Bombs Fall Around Them | FO
Lip Gloss, Potato Chips, Air Fresheners Are Among the ‘Essentials’ Still Sold in Russia | W
Geopolitics & trade
As inflation goes up, tariffs should go down | Washington Examiner
Industries & companies
Autos: Elon Musk breaks out the dance moves as he opens new Tesla factory in Germany | C
Restaurants: Seattle Starbucks location unanimously votes in favor of unionizing, a first in the company’s hometown | C
Corporate finance
Alibaba to Buy Back Up to $25 Billion of Stock | W
Crypto
How Biden’s executive order on cryptocurrency may impact the fate of digital currency and assets | Brookings
The NFL will now let teams seek limited blockchain sponsorships, but cryptocurrency promotion remains banned | C
Climate & virus
New Rules Put Net Zero Pledges Under Scrutiny | W
Midtown Manhattan With Fewer Office Workers: Imagining the Unthinkable | W
Biden Administration to Stop Reimbursing Hospitals for Covid-19 Care for Uninsured | W
March 22 (Tuesday)
Latest Morning Briefing Executive Summary: More Inflationary Developments
No matter how Putin’s War is resolved, the global world order will continue to face new challenges by the autocrats governing China, Iran, North Korea, and Russia. These Axis of Evil countries won’t stop trying to upend the post-WWII order established and implemented by the US. We look at the ramifications of that reality for globalization, inflation, and the investment outlook. … Also: New kinks in the supply chain mean that supply disruptions won’t be abating anytime soon, which will only increase inflationary pressures. … And: Powell’s speech yesterday confirmed his new, more hawkish stance. But an important yield-curve spread may be on the verge of inverting.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 21.
Markets
Stocks End Lower After Powell Interest-Rate Comments | W
Wall Street worries again over Ukraine, inflation | R
S&P Global to withdraw all outstanding ratings on Russian entities | R
China Evergrande Halts Trading in Its Stocks | W
Commodities
Cash Crunch Drives Wild Moves in Commodities | W
Shale Companies Drilling More, but Oil Output Growing Little | W
Oil, food industry executives invited to White House -sources | R
Oil is likely to remain volatile and expensive as world deals with supply shortages | C
Bonds Suffer One of Worst Days in a Decade as Fed Spurs Rethink | B
Global
Governments Cause Inflation, Not Banks Making Loans | FO
Central banks
Central Banks Grapple With Dual Threat of Slowing Growth, Rising Inflation | W
Fed will raise rates more aggressively if needed, Powell says | R
Powell Says Fed Will Consider More-Aggressive Interest-Rate Increases to Reduce Inflation | W
Fed's Jerome Powell Says Look at Short-Term Yield Curve for Recession Risk | B
US
How to Fight Inflation in Wartime | N
Older Americans, Flush With Housing and Stock Portfolio Wealth, Poised to Revive Spending This Year | W
Europe
EU Support Grows for Russia Oil Ban Over Ukraine War | W
China
China Stockpiles Record Cash In a Sign of Slow Fiscal Stimulus | B
China’s Big Tech Firms Are Axing Thousands of Workers | W
Industries & companies
Autos: Ford F-150 Lightning’s 320-mile range beats available Rivian electric pickups, but lags GMC | C
Energy: 41 Inconvenient Truths on the "New Energy Economy" | ampproject.org
Tech: What is web3? It’s Silicon Valley’s latest identity crisis | NBC
Geopolitics & trade
Russia says Biden’s ‘war criminal’ claim has put relations ‘on the verge of rupture’ | C
Ukraine Is Winning | The Atlantic
Ukraine rejects ultimatums as conflict intensifies | R
Vladimir Putin latest: Russian troops cut off as Belarusians sabotage railway supply lines
Russia Relies Increasingly on Missiles, Artillery to Pressure Ukraine | W
Ukraine War Complicates Biden Administration’s Military Strategy on China and Russia | W
Cybersecurity
Russia is exploring options for cyberattacks, and companies must be ready, says Biden | C
Corporate finance
Berkshire Hathaway to Buy Insurer Alleghany for $11.6 Billion | W
Virus
As Offices Ease Covid Safety Measures, Workers Worry | N
March 21 (Monday)
Latest Morning Briefing Executive Summary: A Very Brief History of The Rise & Fall of Modern Monetary Theory
Now that the Fed is tightening, US monetary policy is no longer bullish for stocks; the “Fed Put” is dead. Replacing it: the “CFO Put,” i.e., the market-buoying activities of corporate CFOs. But the tug-of-war between bearish and bullish forces may not be won decisively by either side in coming months; we see a volatile sideways-trading S&P 500. … Yield-curve inversion fears are misplaced. Inversion doesn’t cause a financial crisis/credit crunch/recession scenario but predicts one. And more convincing predictors are flashing no-recession signals—including the Fed’s lack of inflation-fighting gusto. … Also: Policymakers implemented Modern Monetary Theory during the pandemic, revealing the folly of the theory.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 14.
Markets
Global equities rise, gold falls after Russia avoids default | R
A nickel-trading fiasco raises three big questions | E
Uranium Prices Spike as War Shifts Thinking on Nuclear Power | BR
Gas Prices Upend Small Business—‘It’s Keeping Me Awake’ | W
China’s Pledge to Support Its Market Is a First Step. Here’s What’s Needed for a Durable Recovery. | BR
Yen kicks off another week under pressure, with central bank policy in focus | R
Supply chains
Manufacturers With Ties to Russia Struggle to Unwind | W
War in Ukraine Is Already Taking Its Toll on Global Food Supplies | W
Central banks
Fed’s Benign GDP, Inflation Predictions Ignore Risk of a Recession | BR
US
Food Prices Keep Going Up. The Impact May Be Felt Far Beyond the Supermarket. | BR
Deere, Hershey and More Stocks to Buy to Combat Food Inflation | BR
Rent.com Rent Report: March 2022 | Rent.com
China
China Says Housing Prices Are Stable, but Developers See Significant Declines | W
Europe
Europe’s Real Estate Could Offer a Buying Opportunity. These Two Stocks Have an Edge. | BR
Geopolitics & trade I
Ukraine refuses to surrender Mariupol as Russia warns of humanitarian 'catastrophe' | R
Russia’s Assault on Ukraine Uproots 10 Million People | W
Russia, Failing to Achieve Early Victory in Ukraine, Is Seen Shifting to ‘Plan B’ | W
Pentagon’s Work With Ukraine’s Biological Facilities Becomes Flashpoint in Russia’s Information War | W
Ukraine’s World-Class Drug-Molecule Industry Imperiled by Russia Invasion | W
Geopolitics & trade II
The friendship between China and Russia has boundaries | E
The war in Ukraine will determine how China sees the world | E
Confronting Russia shows the tension between free trade and freedom | E
Explainer: How Russia could use bankruptcy law to punish foreign companies | R
Elon Musk's internet system is allowing Ukrainian drones to pound Putin's helpless tanks | ampproject.org
Technology
Big food automation is making its way to Main Street's menu | C
Virus
Health experts predict uptick in U.S. Covid cases due to new BA.2 variant | C
Beyond markets
Elon Musk’s Business Ties to China Create Unease in Washington | W
March 19 (Saturday)
Latest Morning Briefing Executive Summary: Peace, Defense & the Metaverse
Hopes of a ceasefire in Ukraine have buoyed the stock market; but what comes after a ceasefire? Geopolitically, we expect a new world order to emerge. For the S&P 500, we see valuations pressured by higher-for-longer inflation and the Fed’s lame response. But for now, Panic Attack #74 is probably over… The Fed’s baby-step tightening move yesterday shows it’s in no hurry to corral inflation. … Also: Jackie examines the rising defense-spending plans domestically and abroad, the companies that would benefit, and the implications for the S&P 500 Aerospace & Defense index. … And: South Korea invades the metaverse.
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YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 14.
Markets
Dow rallies more than 270 points Friday as stocks post their best week since 2020 | C
Russia seems to have averted its historic bond default — for now | C
How Chinese Shares Went Haywire: ‘The Market Is Completely Unstable’ | W
How the Ukraine Crisis Led to ... Nickel Hoarding | The Atlantic
Central banks
Fed Governor Waller says half-point rate hikes could be needed as 'inflation is raging' | C
Larry Summers: The Fed Must Do Much More to Fight Inflation | Time
US
The main driver of inflation isn't what you think it is | PO
Home Sales Fell in February Amid Tight Supply, Rising Mortgage Rates | W
When Your Second Home Is the First One You Buy | N
Most Medical Debts to Be Removed From Consumers’ Credit Reports | W
Industries & companies
Autos: EV mechanic Carl Medlock found a niche fixing Teslas | C
Geopolitics & trade I
Ukraine's Zelenskiy calls for meaningful talks with Russia | R
Russia backs down on demands in Iran nuclear deal talks, making revival of 2015 pact imminent | C
Ernest Moniz on Vladimir Putin’s reckless nuclear threats | E
The Month Companies United Against Russia’s War | W
How the U.S. and EU Cut Russia Off From the Global Economy | W
Chip Sanctions Challenge Russia’s Tech Ambitions | W
Geopolitics & trade II
How the West Can Win a Global Power Struggle | W
Russia, China and the New Cold War | W
Biden warns Xi of global backlash if China helps Russia's attack on Ukraine | C
Xi says improper handling of Taiwan issues will hit China-U.S. ties | R
Corporate finance
GM to buy SoftBank's stake in Cruise self-driving unit for $2.1 billion | C
Technology
The Metaverse and NFT Boom Is About to Go Bust | OneZero
Metaverse heats up as ProShares launches the latest ETF | Seeking Alpha
Climate
Four climate investors explain the new boom at CERAWeek panel | C
March 18 (Friday)
Latest Morning Briefing Executive Summary: Peace, Defense & the Metaverse
Hopes of a ceasefire in Ukraine have buoyed the stock market; but what comes after a ceasefire? Geopolitically, we expect a new world order to emerge. For the S&P 500, we see valuations pressured by higher-for-longer inflation and the Fed’s lame response. But for now, Panic Attack #74 is probably over… The Fed’s baby-step tightening move yesterday shows it’s in no hurry to corral inflation. … Also: Jackie examines the rising defense-spending plans domestically and abroad, the companies that would benefit, and the implications for the S&P 500 Aerospace & Defense index. … And: South Korea invades the metaverse.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 14.
Markets
Wall Street stocks, oil prices rise after aggressive Fed hike outlook | R
S&P 500 Extends Rally, Up Nearly 5% for the Week | W
S&P cuts Russia's ratings to 'CC' on debt default risk | R
Oil Market’s Big Winners: ‘Little Guys’ Who Are Eager to Drill | W
Hedge funds are doubling down on commodities bets with some notching big gains | C
Central banks
Senate Panel Approves Jerome Powell’s Renomination as Fed Chairman | W
Fed Rate Hikes Double Crypto Firm Circle’s Valuation | W
Deutsche Bank's U.S. affiliate, following the Fed, raises prime lending rate | R
Mortgage Rates Rise Above 4% for the First Time Since 2019 | W
US
Jobless Claims Edge Lower in Tight U.S. Labor Market | W
Ukraine-Russia
Opinion | Russia’s War in Ukraine: This Is How World War III Begins | N
Ukraine War: Desperate Putin Could Be Terrifying for Biden and U.S. | B
Desperation Mounts for Ukrainians in Mariupol as Russia Tries to Capture Key City | W
Russia Doesn't Train Troops for Urban Warfare. It's About to Learn the Consequences in Ukraine. | military.com
Ukraine Switchblade Drones: US Sends Weapons for Use Against Russia | B
Why Russian people need tech companies to stay | C
Broke Russian Oligarch Fridman Says Sanctioned Billionaires Can’t Sway Putin | B
Geopolitics & trade
Is China Russia’s Ally? Beijing Promises to ‘Never Attack’ Ukraine Friend | B
How the Russia-Ukraine war could hit China's trade | C
Xi and Biden Prepare to Talk as U.S.-China Distrust Mounts | W
Industries & companies
Transportation: Amazon Flex drivers hit by surging gas prices are demanding relief | C
Cybersecurity
Japan's Bridgestone reports ransomware attack at U.S. subsidiary | R
Corporate finance
Warren Introduces Bill to Bar Mergers Worth $5 Billion Or More | B
Virus
Chinese President Vows to Control Covid Outbreak With Smallest Cost | W
How South Korea Is Beating Covid Despite 600,000 New Cases a Day | B
March 17 (Thursday)
Latest Morning Briefing Executive Summary: Peace, Defense & the Metaverse
Hopes of a ceasefire in Ukraine have buoyed the stock market; but what comes after a ceasefire? Geopolitically, we expect a new world order to emerge. For the S&P 500, we see valuations pressured by higher-for-longer inflation and the Fed’s lame response. But for now, Panic Attack #74 is probably over… The Fed’s baby-step tightening move yesterday shows it’s in no hurry to corral inflation. … Also: Jackie examines the rising defense-spending plans domestically and abroad, the companies that would benefit, and the implications for the S&P 500 Aerospace & Defense index. … And: South Korea invades the metaverse.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 14.
Markets
Stocks Close Sharply Higher as Fed Raises Interest Rates | W
U.S. bonds: 10-year Treasury yield pares gains after hitting highest level since 2019 following Fed rate hike | C
Central banks
Federal Reserve approves first interest rate hike in more than three years, sees six more ahead | C
Fed hikes interest rates, signals aggressive fight to curb inflation | R
Here's what the Fed's rate hike means for borrowers, savers | C
US
U.S. Retail Sales Grew 0.3% in February | W
Yes, Mr. President: The government can cause inflation | P
Japan
Nearly 70% of Japan's companies see hit to earnings from Ukraine crisis | R
Ukraine-Russia
Ukraine Mounts Counteroffensive to Drive Russians Back From Kyiv, Key Cities | W
Ukraine says Russia strikes Mariupol theatre sheltering residents, Moscow denies attack | R
Nearly 1 Million Child Refugees Have Fled Ukraine for Poland Since War Began | W
Biden calls Putin a war criminal as Russia says mission 'going to plan' | R
Putin Acknowledges Impact of Sanctions on Russian Economy | W
Industries & companies
Autos: Russian-Ukraine war to lower car production by millions of units | C
Media: Netflix adds Volodymyr Zelenskyy's show 'Servant of the People' | C
Restaurants: Starbucks C.E.O. Retires, and Howard Schultz Steps In as Interim | N
Beyond markets
Opinion | How Life as a Trucker Devolved Into a Dystopian Nightmare | N
March 16 (Wednesday)
Latest Morning Briefing Executive Summary: Wage-Price-Rent Spiral
Company fundamentals have been scaling dazzling new heights since mid-2021, yet stock market valuations have toppled ignominiously from their 2021 peaks last spring. That disconnect reflects a tug of war between the opposing effects of high inflation and excess M2 liquidity on valuation multiples. … We have two big concerns about higher-for-longer inflation: Rent inflation is getting uglier, and the wage-price spiral is spiraling faster. In fact, we now see potential for a wage-price-rent spiral. … And: Melissa examines why rents have gone through the roof.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 14.
Markets
Stocks Surge as Oil Prices Slide Below $100 | W
Bond Markets Forecast Long Financial Freeze for Russia | W
China Covid-19 Lockdowns Rattle Oil Markets, Add to Uncertainty | W
Nickel Traders Are Bracing for Wild Ride as Market Reopens | B
Central banks
Fed Wrestles With the Challenge of How Quickly to Raise Interest Rates | W
Sarah Bloom Raskin Withdraws as Biden’s Pick for Top Fed Banking Regulator | W
Global
What Russia's looming debt default means for global economy | P
US
High gas prices didn’t doom Obama in 2008 and they might not sink Biden in 2022 | Vox
Get ready: Here comes the Biden recession | TheHill
As Stagflation Fear Grows, Food and Gas Prices Are the New Rent | B
Single-family rent sets record, led by homes in Florida and Arizona | C
Ukraine-Russia
Russia Bombards Kyiv as European Leaders Arrive in Ukraine’s Capital | W
Ukraine Invasion: Russia's Military Is Adapting After Early Failures | B
Russia sanctions threaten to backfire on the buck (asiatimes.com)
What If Russia Defaults On Its Debt? Ukraine War Sanctions Risk $150 Billion | B
How Long Can Russia Withstand the Sanctions? | CFA Institute Enterprising Investor
Russia Softens Iran Demands, Re-Opening Way for Nuclear Deal | W
Putin’s Worsening Problems | New Lines Magazine
Inside Chernobyl, 200 Exhausted Staff Toil Round the Clock at Russian Gunpoint | W
Corporate finance
Intel Plans $36 Billion in European Chip Plant Investments | W
Beyond markets
Bowery's vertical farming strawberries go on sale in New York | C
Year-Round Daylight-Saving-Time Bill Passes the Senate | W
Pfizer Asks FDA to Authorize Second Covid-19 Booster Dose | W
March 15 (Tuesday)
Latest Morning Briefing Executive Summary: Wage-Price Spiral Spiraling
Today we examine Putin’s War from several angles: The ceasefire demands that Russia has put to Ukraine, the requests for assistance that Russia has put to China, and reasons for surging US gas prices. … We also examine runaway inflation from several angles: What the Fed could do about it, what it will likely do instead, and why the wage-price spiral won’t be stopping anytime soon.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 14.
Markets
Stocks Wobble, Oil Falls as Investors Track Ukraine Negotiations | W
Investors Dash to Haven Assets During Ukraine Crisis Market Turmoil | W
Treasury Yields Rebound to New Multiyear Highs | W
Fund Managers Stay Away From China Stocks Even With 75% Discount | B
Chinese Stocks Slide as Covid-19 Lockdowns Add to Investor Concerns | W
China’s Wealthiest Lose $52 Billion in a Day on Stocks Plunge | B
Central banks
Euro zone to tighten fiscal policy in 2023, but ready to reverse amid Ukraine war | R
NY Fed: Public’s Near-Term Inflation Expectations Again Hit Record in February | W
Joe Manchin opposes Sarah Bloom Raskin Federal Reserve nomination | C
Commodities & climate
Column: Ukraine crisis rocks the London Metal Exchange | R
Inside Nickel’s Short Squeeze: How Price Surges Halted LME Trading | B
Why Is Xiang Guangda Shorting Nickel? | B
Column: Funds dump CBOT wheat shorts on epic rally; end users snap up corn | R
U.S. oil tumbles more than 8%, dips below $100 per barrel | C
EXCLUSIVE Chevron set to trade Venezuelan oil if U.S. relaxes sanctions -sources | R
Gravity could solve renewable energy's biggest problem | NN
BlocPower gets big infusion from Microsoft to convert old buildings to green energy | C
Ukraine-Russia
Ukraine and Russia Resume Talks as Moscow’s Bombing Campaign Grinds On | W
Russian Forces Kill Civilians, Loot for Supplies in Occupied Ukraine, Residents Say | W
The Man Who Sold Ukraine, by Mike Whitney
China’s Reluctance to Distance Itself From Russia Limits Its Role on Ukraine | W
Putin's Ukraine invasion will spur 30-year economic setback: experts | C
Supply-chains
One big problem hindering supply chains and chip manufacturing — and how to fix it | Washington Examiner
Tesla has bought aluminum from Russian supplier Rusal since 2020 | C
Geopolitics & trade
Why Kim Jong Un Wants the World to See New ICBM Tests as Satellite Technology | W
US
The Inflation Hits Just Keep Coming, Raising Stakes for the Fed | W
Rent Prices are Up in Every State Except for These Two | apartmentguide.com
New Yorkers confirm high taxes are pushing them to flee the state in droves | P
Expect Your Spring Road Trip to Cost More This Year | W
Other retirees could take Tom Brady's cue and return to the workforce | C
Europe
Conservative EU countries facing pressure to turn woke | P
Industries & companies
Pharma: Vaccine maker stocks rise as China battles worst Covid outbreak since 2020 | C
Tech: Apple Supplier Foxconn in Talks to Build $9 Billion Factory in Saudi Arabia | W
Cybersecurity
Bitcoin’s Value Drops Amid Russia-Ukraine War and Inflation | N
Virus
China’s Covid-19 Surge Shuts Down Plants in Manufacturing Hubs Shenzhen and Changchun | W
Factbox: Latest on the worldwide spread of the coronavirus | R
March 14 (Monday)
Latest Morning Briefing Executive Summary: Inflation, Liquidity & Valuation
The big question before stock investors now is: With inflation likely to remain troublesome, are valuations still too high or will ample M2 liquidity keep them elevated? We examine a handful of indicators that shed light on the relationship between inflation and valuation. … Will chronic labor shortages fuel a wage-price spiral over the rest of the decade, as predicted by Charles Goodhart? Our money remains on businesses deploying productivity-enhancing technology to get around their labor-supply challenges. … And: Putin’s War should mean more gradual interest-rate increases ahead, for now. …Also: Dr. Ed reviews “Vikings: Valhalla” (+ + +).
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 7.
Markets
War and sanctions have caused commodities chaos | E
Russia-Ukraine War Threatens Wheat Supply, Jolts Prices | W
Oil prices fall, continuing downward trend from last week | R
Hedge Funds’ Commodity Bets Soar After Russia’s Invasion of Ukraine | W
What the U.S. Can Do to Combat Rising Energy Prices. Just Turning on the Taps Is Not an Option. | BR
It’s the Beginning of the End for Russian Gas in Europe. These Stocks Should Benefit. | BR
Central banks
Don’t Expect an Investor Bailout From the Fed if Stagflation Returns | BR
US
Rent-Control Measures Are Back as Home Rents Reach New Highs | W
California’s efforts to house more people have fallen short | E
Europe
Euro zone to back broadly neutral, but flexible 2023 fiscal stance amid Ukraine war | R
Supply-chains
Ukraine halts half of world's neon output for chips, clouding outlook | NN
Chip Makers Stockpiled Key Materials Ahead of Russian Invasion of Ukraine | W
Supply-Chain Problems? Not for Tesla, Apple, and IKEA. | BR
Ukraine-Russia I
Will China offer Russia financial help? | E
China faces consequences if it helps Russia evade sanctions, U.S. says | R
U.S. Won’t Negotiate Ukraine-Related Sanctions With Russia to Save Iran Nuclear Deal | W
U.S. Moves to Deny Russia ‘Most Favored’ Trade Status | W
Ukraine-Russia II
Russian strike on base brings Ukraine war close to NATO's border | R
Putin’s pre-invasion moves against Google and Apple laid tech groundwork for crackdown | WP
Russian soldiers expecting to be welcomed to Ukraine were soon disabused | E
Millions Are Fleeing Ukraine, Some Are Going Back | W
Reexamining Putin’s Military Interventions in the Middle East | The New Yorker
The West’s Economic War Plan Against Russia | W
Ukraine-Russia III
Vladimir Putin is pushing Russia into the past | E
The Stalinisation of Russia | E
A Scholar of Stalin Discusses Putin, Russia, Ukraine, and the West | The New Yorker
The World That Putin Has Made | W
Putin’s War Will Change the World. Here’s How. | BR
Inside Putin’s circle — the real Russian elite | FT
Geopolitics & trade
Ballistic missiles hit Iraq’s Kurdish capital, Iran’s Revolutionary Guard claim responsibility | C
Industries & companies
Autos: As Gas Prices Soar, Buyers Find Fewer Fuel-Efficient Car Options | W
Communication services: Forget 5G. Let’s Talk About 6G. | W
Defense: Military Spending Surges in Europe. These Stocks Stand to Benefit. | BR
Virus
Lockdowns Spread in China as Covid Cases Surge in Shanghai and Other Areas | ampproject.org
Beyond markets
Facts to Know About BlackRock, the World's Largest Asset Manager | ampproject.org
March 12 (Saturday)
Latest Morning Briefing Executive Summary: Stagflation, Russian Oil & Gas, And Carbon Credits
Stagflation—higher inflation with slower economic growth—may be upon us, suggests the NFIB’s February survey of small business owners. Most are struggling to fill open positions, which is perpetuating a wage-price spiral. Earlier this week, we raised our inflation outlook and dropped our GDP forecast—resulting in lower expectations for the stock market this year. … And: How will the US and Europe meet their energy needs with less reliance on Russian oil and gas imports? Jackie looks at this question from multiple angles. … Also: How is the EU carbon credit market weathering its first war? Spoiler alert: Not well.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 7.
Markets
Stocks Turn Lower to Finish the Week | W
Dow falls 200 points, notches its fifth straight week of losses as Russia-Ukraine war drags on | C
Column: Markets wary of 'butterfly effect' if Russia defaults | R
Dollar hits five-year high vs yen, euro sags amid Ukraine uncertainty | R
Column: Global diesel shortage raises risk of oil price spike | R
Central banks
Federal Reserve expected to raise interest rates in week ahead | C
Column: Pity poor ECB - bluff, error or remix? | R
Energy
This Isn’t Obama’s Iran Deal. It’s Much, Much Worse. | Tablet Magazine
Yellen says gas tax cut among options to ease higher costs at the pump | R
US
Senate Passes $1.5 Trillion Spending Bill That Includes Aid for Ukraine | W
Congress prevents government shutdown, approves Ukraine aid | C
Biden Administration Pushes for Higher Construction-Worker Pay | W
Ukraine war I
Ukraine's Zelenskiy defiant as Russian forces, despite setbacks, regroup near Kyiv | R
In the Rubble of Kharkiv, Survivors Make Their Stand: ‘It’s a War, and It’s a Dirty War’ | W
Ukraine war II
U.S. Moves to Deny Russia ‘Most Favored’ Trade Status | W
China Has Tools to Help Russia’s Economy. None Are Big Enough to Save It. | N
Pressure Mounts for Western Companies Leaving Russia | W
Ukraine Invasion Dashes U.S. Banks’ Russia Hopes | W
Beyond markets
India says it accidentally fired missile into Pakistan | R
Virus
China Battles Nationwide Surge in Covid-19 Cases | W
Pfizer planning to submit data on 4th Covid shot soon, while working on vaccine for all variants | C
March 11 (Friday)
Latest Morning Briefing Executive Summary: Stagflation, Russian Oil & Gas, And Carbon Credits
Stagflation—higher inflation with slower economic growth—may be upon us, suggests the NFIB’s February survey of small business owners. Most are struggling to fill open positions, which is perpetuating a wage-price spiral. Earlier this week, we raised our inflation outlook and dropped our GDP forecast—resulting in lower expectations for the stock market this year. … And: How will the US and Europe meet their energy needs with less reliance on Russian oil and gas imports? Jackie looks at this question from multiple angles. … Also: How is the EU carbon credit market weathering its first war? Spoiler alert: Not well.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 7.
Markets
Stock Markets Close Lower as Inflation Rises, War in Ukraine Continues | W
Wall Street closes lower as inflation hits 40-year high, inviting aggressive Fed tightening | R
Nickel Market Freeze Extended to Sort Out Big Trading Loss Amid Ukraine War | W
Central banks
There's more inflation coming, as the Federal Reserve starts raising interest rate | C
ECB Prepares to Raise Rates in 2022 as Stagflation Threat Looms | W
US
Inflation Reached 7.9% in February; Consumer Prices Are the Highest in 40 Years | W
February Inflation Was Broader Than Gas Prices | W
Treasury Secretary Janet Yellen says inflation could be high for a year | C
JPMorgan says labor shortage requires unconventional hiring | C
Ukraine war I
Besieged Ukrainians endure bombardments, with no breakthrough in talks | R
U.S., Allies Look at Sending Soviet-Designed Air-Defense Systems to Ukraine | W
Unfounded Russian Claims of Biological Weapons Research in Ukraine Stir Fears of Wider Risk | W
Is Putin unstable? - WP
Russia’s war has already failed | Prospect Magazine
The Weapon the West Used Against Putin | The Atlantic
World Economic Forum Freezes ‘All Relations’ With Russia, Putin | epochtimes.com
U.S. VP Harris supports call for a war crimes investigation against Russia | Reuters
Ukraine war II
Economic Blacklist of Russia Marks New Blow for Globalization | W
Ukraine War Pushes Biden Toward Venezuela, Iran and Saudi Arabia in Oil Hunt | W
U.S. Banned Russian Oil. Will Suspension of Gasoline Tax Be Next? | W
JPMorgan is winding down its Russia operations amid business exodus | C
Opinion: What keeps China from stopping Russia's war | NN
Geopolitics & trade
North Korea developing new long-range missile system, U.S. official says | C
Industries & companies
Autos: Rivian changing battery cells to LFP, following Tesla, and high-nickel | C
Energy: Saudi Aramco joint venture to develop refinery and petrochemical complex in China | nationalnews.com
Corporate finance
Amazon stock has second-best day of 2022 on planned 20-for-1 split | C
Virus
U.S. extends airplane mask mandate through April 18 | C
Beyond markets
John Kerry warns of coming climate refugee crisis | P
March 10 (Thursday)
Latest Morning Briefing Executive Summary: Stagflation, Russian Oil & Gas, And Carbon Credits
Stagflation—higher inflation with slower economic growth—may be upon us, suggests the NFIB’s February survey of small business owners. Most are struggling to fill open positions, which is perpetuating a wage-price spiral. Earlier this week, we raised our inflation outlook and dropped our GDP forecast—resulting in lower expectations for the stock market this year. … And: How will the US and Europe meet their energy needs with less reliance on Russian oil and gas imports? Jackie looks at this question from multiple angles. … Also: How is the EU carbon credit market weathering its first war? Spoiler alert: Not well.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 7.
Markets
World shares rise, oil falls 13% on diplomacy, OPEC nation's pledge | R
Markets Are in Denial About Nuclear Risk by Willem H. Buiter | Project Syndicate
Energy
Biden and the Oil Industry Are at Odds, Clouding Effort to Tame Gasoline Prices | W
Oil jumps after UAE says it is committed to OPEC+ supply pact | R
Oil drops 12% for worst day since November as wild ride triggered by Russia disruption continues | C
Energy Secretary Granholm calls on oil, gas companies to raise output | C
Why EU didn't include nuclear energy in plan to get off Russian gas | C
Gas prices are spiking — don't expect sales of electric vehicles to follow | C
Ukraine war
Russian-Ukraine war will 'get worse before it gets better,' Army Secretary Christine Wormuth says | C
U.S. condemns 'barbaric' attack on innocents at Ukraine children's hospital | R
Russian Airstrike Hits Maternity Hospital in Ukrainian City of Mariupol | W
Ukraine nuclear company warns of Chernobyl radiation risk | P
U.S. Doesn’t Support Giving Ukraine Polish Aircraft, Pentagon Says | W
Waves of Ukrainian Refugees Overwhelm Poland | W
‘We told you so!’ How the West didn’t listen to the countries that know Russia best | PO
Fortress Russia Crumbles by Anders Åslund | Project Syndicate
Russians Rush to Leave as Sanctions Bite and Putin Clamps Down on Dissent Over Ukraine War | W
US
Democrats Remove Coronavirus Funding From Omnibus Spending Package | W
Job Openings Near Record as Labor Market Emerges From Omicron Disruptions | W
U.S. labor market very tight, job openings near record high in January | R
Better Pay and Career Paths Drive U.S. Workers’ Decisions to Quit | W
Consumer inflation was likely high in February, before fuel hit | C
Will Inflation Stay High for Decades? One Influential Economist Says Yes | W
China
China's resilient economic fundamentals provide solid foundation for markets- state media | R
Corporate finance
Amazon split could set it up for being included in the Dow Industrials | C
Cybersecurity & cryptocurrency
SEC Proposes Requiring Firms to Report Cyberattacks Within Four Days | W
Here's what's in Biden's executive order on crypto | C
March 09 (Wednesday)
Latest Morning Briefing Executive Summary: Commodities Go Limit Up
Is China’s President Xi able to stop Putin’s War? With high stakes for both China’s economy and its reputation on the world stage, he has every reason to try. The Dragon must restrain the Bear. … The CRB raw industrials spot price index typically peaks and troughs in lockstep with business cycles. This time is different: The CRB’s vertical ascent reflects not booming global demand as usual but looming supply crunches. … And: Blocking Russian exports from global markets will mean painful supply constraints for the rest of the world, not only of oil and gas but also of metals and agricultural products.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 7.
Markets
Stocks Finish Lower as Oil Rises on Russian Oil Ban | W
Global shares fall, oil rises in volatile trading after Russia oil ban | R
Crude oil jumps as much as 7% on U.S. ban of Russian imports, but trades off session highs | C
Why Is Gas So Expensive? Ukraine-Russia War Sparks Price Increases Across U.S. | W
Nickel price surge could threaten automakers' EV plans | C
Global
Hundreds of Ships Trapped by Ukraine War, Endangering Sailors and Global Trade | W
US
Higher Vehicle, Energy Imports Push January U.S. Trade Deficit to New Record | W
Will Your Rent Keep Skyrocketing? Not If This Billionaire Is Right | FO
Ukraine War I
Fighting in Ukraine Forces Two Million to Flee as Russia Presses Offensive | W
Biden Bans Imports of Russian Oil, Natural Gas | W
How the EU plans to cut dependence on Russian gas by 67% this year | C
Russian Oil Embargo Pushes OPEC to Take Sides | W
Ukraine War II
China's Xi calls for 'maximum restraint' in Ukraine | R
U.S. Sanctions Can’t Keep China From Buying Russian Oil | OilPrice.com
Shell, BP to Withdraw From Russian Oil, Gas | W
Big brands and oil ban punish Russia as Moscow makes new pledge on Ukraine refugees | R
Coca-Cola, McDonald's, Pepsi and Starbucks suspend business in Russia | C
Sovereign wealth funds likely to shun Russia, researcher says | R
Geopolitics & trade
North Korea Restarts Work at Nuclear Testing Site, Report Says | W
Industries & companies
Financials: Visa, Mastercard Prepare to Raise Credit-Card Fees | W
Retail: Amazon turns grocery-picking gig workers into Whole Foods employees | C
Shipping: XPO Logistics will focus only on trucking, will spin off, sell other units | C
Corporate finance
Alphabet CFO Ruth Porat explains $5.4 billion Mandiant deal | C
Virus
Why American Mask Makers Are Going Out of Business | N
March 08 (Tuesday)
Latest Morning Briefing Executive Summary: Past & Future Earnings
Today, we examine the fundamental data that drive the stock market, as just reported for Q4 and as projected by industry analysts and by us for this year and next. S&P 500 companies’ Q4 results show record highs for revenues and earnings, but the profit margin continued to edge down from the Q2 peak. … Our stagflation economic forecast prompts us to raise our S&P 500 revenue, but not earnings, estimates. We expect relatively flat S&P 500 profit margins around 13% this year and next. … Also, we look at what declining forward P/Es have meant for the four major investment styles.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on March 7.
Markets
Dow Falls More Than 700 Points, Enters Correction Territory | W
U.S. Treasurys Regain Favor | W
Commodities
U.S. crude oil spikes to 13-year high of $130 overnight, then gives up most of that gain | C
EU to phase out Russian gas, oil, coal imports - leaders' draft | R
What would a U.S. ban on Russian oil mean for the world? | R
Oil Industry Contemplates World Without Russian Crude | W
How Oil Giants’ Bets on Russia, Years in the Making, Crumbled in Days | W
Uniqlo owner stays put in Russia as Boeing suspends buying Russian titanium | R
Global
Global Economy Braces for Impact of Russia’s War on Ukraine | W
Central banks
The Fed’s ‘Average’ Is More ‘Flexible’ Than ‘Target’ | Fisher Investments
US
Will Inflation Fall? Any Pullback Depends on These Sectors | W
Federal debt is unpopular until you get elected | TheHill
Geopolitics & trade I
Russia Pummels Civilian Targets While Talks Make Scant Progress | W
Nearly all of Russia's initial invasion forces in Ukraine: Pentagon | C
Russia-Ukraine war: U.S. collecting evidence of war crimes | C
More than 1.7 million Ukrainians have fled to Central Europe, UN says | R
Occupied Ukrainian Towns Want Russian Troops to ‘Go Home’ | W
Moscow says it will let Ukrainian civilians flee — to Russia | R
Russia will stop 'in a moment' if Ukraine meets terms - Kremlin | R
Geopolitics & trade II
Some New Steps the West Might Try in Ukraine | W
Blinken Says NATO Is Considering More Permanent Troops in Baltics | W
U.S. lawmakers pressure Biden to help with transfer of European aircraft to Ukraine | R
Chinese Tech Firms Weigh Opportunities in Russia After Western Pullout | W
Israel Says Iran Tried to Fly Arms to Hamas Using Drones | W
Industries & companies
Airlines: Airline stocks slump as jet fuel surge overshadows travel rebound | C
Autos: Used-car prices are still sky-high — but they may be easing | C
Restaurants: Ukraine news: McDonald's declines to comment on war, has exposure in Russia | C
Retail: Bed Bath & Beyond shares jump after GameStop chairman reveals big stake | C
Virus
Even mild Covid is linked to brain damage, scans show | C
U.S. far from normal with Covid deaths 10 times higher than flu, RSV: report | C
Beyond markets
Russian invasion sheds light on hypocrisy of Gary Gensler, corporate wokesters | P
A Guide To All The Outrageous Mansions And Estates Owned By Sanctioned Russian Billionaires | FO
While Properly Resisting Putin’s Villainy, Let’s Not Allow Governments To Take Property | FO
March 07 (Monday)
Latest Morning Briefing Executive Summary: It’s a Mad, Mad, Mad, Mad World
With the whole world at the mercy of Mad Vlad, the pandemic now seems like a walk in the park. A nuclear power plant catastrophe has been narrowly averted, but Putin’s war has melted down Russia’s stock market and currency. … For the US economy, we now see stagflation, with persistently higher inflation and less economic growth than expected before the war. A recession can no longer be ruled out. … For stock investors, we think 2022 will continue to be one of this bull market’s toughest years. We’ve dropped our year-end 2022 and 2023 S&P 500 targets to 4000, a 16% decline, and 5000, a 25% rebound to a new record high.
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Daily Markets Overview
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Replay of Dr. Ed's webinar on February 28.
Markets
How the Stock Market Reacts to War and Other Crises, According to History | BR
8 Experts Explain What the Ukraine War Means for Markets | BR
Investors Start Buying Ukraine, Russia Bonds | W
Commodities
U.S. crude oil tops $130 a barrel, a 13-year high on possible Western ban of Russian oil | C
National average for a gallon of gas tops $4, the highest price at the pump since 2008 | C
How High Can Oil Prices Go? What to Know | BR
Oil spikes to 2008 highs as U.S., Europe mull Russian oil import ban, Iran delay | R
U.S. Officials Meet With Regime in Venezuela, to Discuss Oil Exports to Replace Russia’s | W
Ukraine: Angry dock workers in the UK are refusing to unload Russian oil | C
This Russian Metals Giant Might Be Too Big to Sanction | W
Central banks
The Fed Risks Making a Policy Mistake. Here’s How to Avoid It. | BR
The ECB’s Inflation Problem Is More About Supply Than Demand | W
China’s Robust Growth Target Points to More Stimulus Ahead | W
US
Biden Caught Between Inflation and Calls to Ban Russian Oil | W
Stagflation Is Here. Is Recession Next? Real Wages Hold the Key. | BR
How War in Ukraine Drives Up Inflation at U.S. Farms, Supermarkets, Retailers | W
Europe
Southern Europe grapples with changing face of tourism | R
China
China Sets Economic Growth Target of Around 5.5% for the Year | W
Geopolitics & trade I
When Vladimir Putin escalates his war, the world must meet him | E
Ukraine Faces Fresh Wave of Attacks Focused on Population Centers | W
Fighting traps residents in Mariupol; Putin calls on Ukraine to surrender | R
How to help Ukraine as Vladimir Putin bombards its cities | E
U.S. Hunts for Options to Get Polish Combat Planes to Ukraine | W
Is the Russian Air Force Actually Incapable of Complex Air Operations? | Royal United Services Institute
Russia Recruiting Syrians for Urban Combat in Ukraine, U.S. Officials Say | W
Geopolitics & trade II
The Russia-Ukraine Cyberwar Could Outlast the Shooting War | W
The west’s hybrid war on Russia | FT
For Israel, Ukraine Was A Test Case And The West Failed That Test. | American Thinker
Opinion: From Hungary in 1956 to Ukraine in 2022, Russia has tried to crush the people’s will – and failed | The Globe and Mail
Geopolitics & trade III
Western sanctions on Russia are like none the world has seen | E
Netflix, American Express and two top accounting firms sever ties with Russia | R
A new age of economic conflict | E
China Opposes Sanctions and Has a Reputation for Busting Them | W
Russian Banks Turn to China to Sidestep Cutoff From Payments Systems | W
Industries & companies
Media: 'The Batman' tallies $128.5 million domestic box office opening | C
Virus
CDC director makes startling admissions about pandemic response | wnd.com
March 05 (Saturday)
Latest Morning Briefing Executive Summary: Sentiment, Retailers, China & Crypto
Bargain buying now for the long term may make sense, suggests the Bull-Bear Ratio and lessons from past geopolitical shocks. A caveat: This time may be different given coming interest-rate increases and the potential for disrupted energy markets. … Retailers’ recent earnings reports have been decidedly optimistic, but stock investors aren’t convinced. Why are they spooked when the C-suite folks are sanguine? … China’s President Xi may have a change of heart about former BFF Putin; we explain why we think so. … And: Cryptocurrencies’ new wartime uses.
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Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 28.
Markets
Dow sheds 180 points, slides for 4th straight week as Ukraine war weighs on markets | C
S&P Dow Jones is removing Russia stocks from indexes, stripping country of emerging market status | C
Russia’s Ukraine conflict, big inflation report will keep the stock market volatile in coming week | C
Average national gasoline price surges to $3.83 a gallon, the highest since 2012 | C
War in Ukraine: White House Considering Ban on Russian Oil Imports to U.S. | B
US
February jobs rose a surprisingly strong 678,000, unemployment edged lower while wages were flat | C
The evolving post-COVID U.S. job market in five charts | R
Chicken Companies Were Asked About Sharing of Employment Practices | W
Biden Climate-Change Plans Gain Momentum as Democrats Retool Agenda | W
Half of Insured Americans Owe Medical Debt, Boosted by Covid | B
Geopolitics I
Russia seizes Europe's biggest nuclear plant and blocks media websites | R
Russia Accused of Nuclear ‘Terrorism’ After Attack on Ukraine Power Plant | B
No Radiation Leaks Reported After Russians Take Ukrainian Nuclear Plant | W
UK, France say Iran nuclear deal is close, Russia points to next week | R
Ukraine Has Accused Russia of Using Thermobaric Weapons. Here’s What Makes Them So Devastating. | W
A Ukrainian City Prepares for Battle Far From the Front Line | W
Ukraine’s Special Forces Hold Off Russian Offensive on Kyiv’s Front Lines | W
Russia blocks Facebook, passes 'fake news' law; LVMH, Microsoft halt sales | R
Geopolitics II
How the West Unplugged Russia From the World’s Financial Systems | W
Why China’s Banks Won’t Come to Russia’s Rescue | W
Lindsey Graham Repeats Call for Russians to Assassinate Putin | W
The West’s Green Delusions Empowered Putin | Common Sense
Russia’s Looming Economic Collapse | The Atlantic
JPMorgan Warns Russia Faces 1998-Like Collapse in Economy | B
North Korea Fires Suspected Missile Days Before South’s Vote | B
Industries & companies
Autos: Tesla Gets Approval to Start EV Production in Germany | W
Autos: Tesla's long-delayed German gigafactory gets conditional green light | R
Tech
Is It the End of the Road for Computing Power? | W
Virus
New Jersey will end omicron public health emergency, NYC to lift indoor vaccine mandate | C
Beyond markets
Ark Invest CEO Cathie Wood on everything from deflation to Elon Musk | FT
March 04 (Friday)
Latest Morning Briefing Executive Summary: Sentiment, Retailers, China & Crypto
Bargain buying now for the long term may make sense, suggests the Bull-Bear Ratio and lessons from past geopolitical shocks. A caveat: This time may be different given coming interest-rate increases and the potential for disrupted energy markets. … Retailers’ recent earnings reports have been decidedly optimistic, but stock investors aren’t convinced. Why are they spooked when the C-suite folks are sanguine? … China’s President Xi may have a change of heart about former BFF Putin; we explain why we think so. … And: Cryptocurrencies’ new wartime uses.
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 28.
Markets
Nasdaq drops 1.5%, Dow off nearly 100 points in choppy session as traders monitor Russia-Ukraine war | C
History Shows Ukraine War Will Be a Stock Price Blip | B
Here’s What Happens When Investors Ignore Corruption | Institutional Investor
Saudi crown prince plays the oil card in quest for U.S. recognition | R
Central banks
Fed’s Powell Says Ukraine War Creates Risks of Higher Inflation | W
US
Biden Administration Seeks $10 Billion for Ukraine Aid | W
Biden’s building bust: Inflation, foolish priorities will zap infrastructure investments | P
Economic Outlook: Labor Market to Drive GDP Growth | Morningstar
February jobs report expected to show strong labor market continuing with solid wage gains | C
China
In China, Fewer Are Willing to Splurge as Economic Worries Mount | W
Europe
Europe Can Survive Next Winter Without Russian Gas | OilPrice.com
Column: Europe prepares for high gas prices to last into 2023 | R
French President Emmanuel Macron Declares Run for Re-Election | W
Ukraine conflict
Ukraine and Russia agree on evacuation corridors as U.S. punishes oligarchs | R
Russian Forces Advance in Southern Ukraine as Cease-Fire Talks End | W
Putin Thought Ukraine Would Fall Quickly. An Airport Battle Proved Him Wrong. | W
Russia’s Assault on Ukraine’s Cities | W
China Declared Its Russia Friendship Had ‘No Limits.’ It’s Having Second Thoughts. | W
Russian billionaires lose over $80 billion in wealth | C
Russia-tied cable news station RT America closes amid Ukraine invasion | C
Industries & companies
Airlines: Airline software giant ends distribution service for Russia's Aeroflot | C
Autos: Ukraine War Plunges Auto Makers Into New Supply-Chain Crisis | W
Health Care: Companies Bet You’re Ready to Test at Home for More Than Covid-19 | W
Pharma: Covid: Pfizer, Moderna project $51 billion in combined vaccine sales this year | C
Retail: Ukraine news: Retailers warn of business impact from Russia's invasion | C
Crypto
How Bitcoin and a Crypto Exchange Became Part of Ukraine’s War Effort | W
Virus
Should you keep wearing a mask on a plane? | Slate.com
NFL suspends all Covid protocols, cites ‘encouraging trends’ | C
Beyond markets
Brandon Sanderson Kickstarter tops $19 million in two days | C
March 03 (Thursday)
Latest Morning Briefing Executive Summary: Sentiment, Retailers, China & Crypto
Bargain buying now for the long term may make sense, suggests the Bull-Bear Ratio and lessons from past geopolitical shocks. A caveat: This time may be different given coming interest-rate increases and the potential for disrupted energy markets. … Retailers’ recent earnings reports have been decidedly optimistic, but stock investors aren’t convinced. Why are they spooked when the C-suite folks are sanguine? … China’s President Xi may have a change of heart about former BFF Putin; we explain why we think so. … And: Cryptocurrencies’ new wartime uses.
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 28.
Markets
Dow Rises as Investors Watch Ukraine, Interest Rates | W
Oil Tops $110 as Russia’s War on Ukraine Shakes Global Crude Trade | W
Central banks
Powell Says Fed Is on Track to Raise Rates in Two Weeks | W
Fed Chair Powell notes 'highly uncertain' Ukraine impact, but says rate hikes are still coming | C
Fed's Powell Plows Ahead Toward Rate Hikes With Eyes on War Impact | B
US
U.S. Economy Grew Modestly Amid Omicron Surge, Fed Beige Book Says | W
Europe
Eurozone Inflation Climbs to Fresh High as Russian Invasion Confronts ECB With Dilemma | W
Geopolitics & trade
Russia Batters Ukraine’s No. 2 City Kharkiv, as Kyiv Offensive Stalls | W
Five Reasons Why Russian Forces Are Struggling in Ukraine | Defense One
As Russian Invasion of Ukraine Widens, the West’s Options Shrink | W
Blinken slams Putin's provocative rhetoric on nuclear weapons | C
Putin loses key ally in the European Union as Hungary's Orban turns | C
Biden administration launches new 'KleptoCapture' task force to go after Russian oligarchs | C
For Average Russians, Western Sanctions Over Ukraine War Begin to Bite | W
U.S. Moving to Confront China on Trade, Industrial Policy | W
Industries & companies
Autos: Ford Creates Separate EV, Gas-Engine Divisions in Major Overhaul | W
Consumer discretionary: Amazon closing 68 stores, ending Amazon Books, 4-star, Pop Up shops | C
Media: 'The Batman' reviews: What critics thought of the new Dark Knight film | C
March 02 (Wednesday)
Latest Morning Briefing Executive Summary: The Case for a Ceasefire
The Cold War is back on. What’s next in the hot war between Russia and Ukraine? Major considerations include whether Russia gains the upper hand militarily, the fact that it is losing much economically, and whether negotiations will provide an exit for both sides. … Longer term, Russia’s future is bleak if demography is indeed destiny. … And: What’s with all the slicing and dicing of apples and oranges that Fed banks do to understand inflation? We’d toss out most of the concoctions.
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Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 28.
Markets
Oil surges above $100 a barrel, stocks slide on Ukraine conflict | R
Global
War in Ukraine Disrupts Ships Around the Globe | W
Central banks
Traders fret about a growth slowdown as Fed Chair Powell faces a dilemma on rates | C
Energy
Nord Stream 2 Gas Pipeline Lays Off All Employees | W
Gas prices: What if Moscow halts energy exports to Europe? | NN
There’s No Way Vladimir Putin Could Freeze Europe, and No Way the U.S. Could Freeze Putin | FO
A Lesson in Energy Masochism | W
Ukraine conflict I
Russia Targets Ukrainian Civilian Areas in Shift to Demoralize Resistance | W
U.S. Rushes Arms to Ukraine as Russian Forces Escalate Attacks | W
The Putin Endgame | W
How Vladimir Putin Miscalculated the Economic Cost of Invading Ukraine | The New Yorker
A New Nuclear Debate in Japan | W
Ukraine conflict II
U.S. to ban Russian flights from American airspace, officials say | C
EXCLUSIVE U.S. utilities push White House not to sanction Russian uranium | R
Apple Says It Has Stopped All Product Sales in Russia | W
Food Shortages, Last Goodbyes: Ukrainians Face Their New Reality | W
Industries & companies
Autos: Car Dealerships Don’t Want Your Cash—They Want to Give You a Loan | W
Autos: Toyota Shutdown Over Cyberattack at a Supplier Reflects Cautious Culture | W
Consumer discretionary: Amazon Opens a Whole Foods With the Next Step in Automation | N
Retail: How Target plans to keep growing sales | C
Retail: Nordstrom (JWN) reports Q4 2021 earnings beat | C
Cryptocurrency & cybersecurity
Bitcoin Demand Booms in Ukraine and Russia | W
How is Anonymous attacking Russia? Disabling and hacking websites | C
Virus
New CDC face mask guidelines send important message | TheHill
Beyond markets
Opinion | Larry Summers Shares the Blame for Inflation | N
March 01 (Tuesday)
Latest Morning Briefing Executive Summary: Inflation in the Second Cold War
The end of the Cold War in the late 1980s was very disinflationary—perpetuating freer trade, greater global prosperity, and lower inflation. Will February 24, 2022 mark the start of Cold War 2.0 and with it the Great Inflation 2.0? To answer that, we look at the history of inflation from a geopolitical perspective before we examine four powerful constraints on inflation, the “4Ds”—some of which have been weakening. … Also: a look at what’s been keeping frackers from fracking more oil.
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Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 28.
Markets
Stocks Fall, Oil Leaps as Ukraine Crisis Deepens | W
Bond Market Shakes Off Hefty Swings in Sentiment | W
US
In speech, Biden to shift from Build Back Better bill to 4-point economic rescue plan | R
How Lopsided New District Lines Deepen the U.S. Partisan Divide | NYT
U.S. Positioned to Withstand Economic Shock From Ukraine Crisis | W
Inflation Raises Expenses for Pension Funds | W
A Little-Noticed Reason Workers Quit: Too Little Work | W
Ukraine conflict I
Ukraine calls for no-fly zone to stop Russian bombardment | R
Ukraine, Russia Fail to Agree on Cease-Fire, as Moscow Shelling Kills Civilians | W
Ukraine 'not ready to surrender or capitulate': Ukraine foreign minister | C
Russia-Ukraine Conflict: Why the Russians Are Struggling | National Review
A pandemic spent in isolation may have driven Putin mad | P
U.S. Looks to Make China Pay for Close Ties to Russia in Ukraine Crisis | W
Ukraine conflict II
Russia Sanctions: What Are the Latest Measures Imposed by the U.S., U.K. and EU? | B
Central Bank Sanctions Breach Fortress Russia, Halt Intervention | B
Shell to Exit Joint Ventures With Gazprom, Citing Russia Invasion of Ukraine | W
BP’s Sudden Russia Exit Exposes Risks for Western Companies in Ukraine Crisis | W
Russian oligarchs move yachts as U.S. looks to 'hunt down' and freeze assets | C
Russia Hits Back on Sanctions, Bars EU Carriers From Skies | B
Industries & companies
Autos: Tesla shares rally on expectations German factory will open in March | C
Virus
Pfizer vaccine was just 12% effective for kids in omicron surge: study | C
California, Oregon and Washington to end school mask mandates after March 11 | R
February 28 (Monday)
Latest Morning Briefing Executive Summary: ‘Stop the World— I Want To Get Off!’
“Buy to the sound of cannons, sell to the sound of trumpets.” That advice worked on Thursday as Russia invaded Ukraine. What about that shocking day reassured investors enough to drive the stock market up? We take a look. … Also working that day was the Bull-Bear Ratio’s contrarian buy signal. … Economically, the war may bring heightened global inflation, more supply-chain disruptions, and possibly higher energy prices. For the US economy, stagflation could result, but we still don’t expect a recession. … And: Is madman Putin’s plan already doomed? ... Finally, Dr. Ed reviews “CODA” (+).
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Daily Markets Overview
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Replay of Dr. Ed's webinar on February 22.
Markets
Wall St Week Ahead Some investors wary of 'buying the dip' as Ukraine, Fed gyrate stocks | R
Ukraine Crisis Upends Investing Playbook for 2022 | W
Investors Bet Oil Still Has Room to Run After Touching $100 | W
Ukraine conflict - Russia
Vladimir Putin’s nuclear threat shows how much is going wrong for him in Ukraine | E
History will judge Vladimir Putin harshly for his war | E
EU says it will fund arms deliveries to Ukraine and hit Russia with new sanctions | C
How new sanctions could cripple Russia’s economy | E
Western businesses cut some Russia ties over Ukraine invasion | R
Norway says its sovereign fund will divest from Russia | R
EU, UK, Canada, US pledge to remove selected Russian banks from SWIFT | C
The antisemitism animating Putin’s claim to ‘denazify’ Ukraine | The Guardian
Ukraine conflict - Energy
West Still Reluctant to Target Russia Energy on Economy Fear | B
Russia Sanctions Over Ukraine Largely Spare Energy Sector, Vital to Europe | W
Russia Sends Natural-Gas Tankers to Kaliningrad Outpost Behind NATO Lines | W
BP offloads its nearly 20% stake in Russia's Rosneft | C
If the supply of Russian gas to Europe were cut off, could LNG plug the gap? | E
Ukraine conflict – Ukraine
'Stiff Ukrainian resistance' continues to hamper Russian troops | C
How Volodymyr Zelensky found his roar | E
Ordinary Ukrainians Rally to Defend Homeland From Russia | W
Ukrainian cities are suffering internet blackouts | E
World Bank may be able to disburse Ukraine aid funds in days -Malpass | R
Ukraine conflict - China
Xi Jinping drew closer to Russia on the eve of war in Ukraine | E
Global
Despite bulging debt everywhere, the IMF is struggling to be helpful | E
Ukraine Conflict Could Strengthen Brazil and Other Emerging Markets | BR
US
Inflation and Interest-Rate Increases Will Be Higher Than Investors Think, Says This Fund Manager | BR
High Food Prices to Pressure Inflation This Year | W
CPAC: Trump Criticizes Biden on Ukraine, Hints at 2024 White House Bid | W
Europe
For Europe, Russia Sanctions Will Sting | W
Scholz: Germany pledges defense spending increase in shift in strategy | C
Germany to Raise Defense Spending Above 2% of GDP in Response to Ukraine War | W
Industries & companies
Autos: A New Brand of Sticker Shock Hits the Car Market | W
Pharma: Covid-19 Vaccine Makers Face a New Rival as GlaxoSmithKline and Sanofi Prepare to Enter the Ring | BR
Technology
The world should welcome the rise of the robots | E
Virus
Hong Kong’s refusal to live with covid-19 is causing chaos | E
Are some countries faking their covid-19 death counts? | E
Why Is Everyone Standing So Close? Personal-Space Boundaries Shifted During the Pandemic. | W
February 26 (Saturday)
Latest Morning Briefing Executive Summary: Sentiment, Industrials, and Crispr
Stock market bearishness is increasing, which is bullish from a contrarian perspective. The Bull/Bear Ratio has dropped close to levels that have heralded great buying opportunities in the past. That doesn’t preclude further stock market declines, but it does suggest that bargain buying for the long term makes sense. … A confluence of trends points to boom times for manufacturing industries and the businesses that support them. Some of these trends are industry specific, some apply to manufacturing broadly. … Also: a look at exciting new medical applications for disruptive technology Crispr.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 22.
Markets
Dow climbs 800 points in best day since 2020, investors weigh Russia-Ukraine | C
U.S. Stocks Rally to Finish Turbulent Week | W
With market's snapback, focus shifts to Powell testimony, jobs report | C
How Geopolitics Impacts Markets (1941-2021) | The Big Picture
Global
Ukraine War Means Another Supply Shock to Global Economy, the Last Thing It Needs | W
Central banks
Fed’s Preferred Inflation Measure Reaches Fastest Pace Since 1983 | W
Energy
U.S. Energy Independence Is Shaken by Russia-Ukraine Crisis | N
Putin Is Having Easier Crisis This Time Thanks to Oil, Reserves | B
How fracking was killed by Green lies and Russian propaganda | thecritic.co.uk
US
U.S. Consumer Spending Rose 2.1% in January and Inflation Accelerated Amid Omicron Wave | W
This key unemployment measure hasn't been this low since 1970 | NN
Opinion | With Inflation High, People Are Talking About Price Controls. Is That a Terrible Idea? | N
'Unretirements' are picking up, and that's good for the economy | axios.com
Biden nominates Ketanji Brown Jackson to be next Supreme Court justice | C
Geopolitics & trade
How the West Misread Vladimir Putin | W
How Germany helped blaze Putin’s path into Ukraine | PO
Russian Forces Close In on Ukraine’s Capital as Kyiv Prepares to Fight | W
Russia Vetoes UN Resolution as China Abstains: Ukraine Update | B
Russia media regulator moves to partially restrict Facebook access | C
U.S. to impose sanctions on Vladimir Putin and top aide, White House says | C
Industries & companies
Autos: Ford Plans to Pause F-150 Production at Missouri Plant Next Week | W
Media: Disney's Star Wars Galactic Starcruiser review: Let loose and play | C
Pharma: Pfizer, Moderna and Other Drugmakers Make Billions Responding to Covid-19 Pandemic | W
Virus
Covid: Transmissibility, severity, reinfection of Omicron BA.2 subvariant | C
U.S. eases COVID indoor mask guidelines for most of country | R
Beyond markets
Tokens.com CEO buys $2 million worth of land in Decentraland | C
February 25 (Friday)
Latest Morning Briefing Executive Summary: Sentiment, Industrials, and Crispr
Stock market bearishness is increasing, which is bullish from a contrarian perspective. The Bull/Bear Ratio has dropped close to levels that have heralded great buying opportunities in the past. That doesn’t preclude further stock market declines, but it does suggest that bargain buying for the long term makes sense. … A confluence of trends points to boom times for manufacturing industries and the businesses that support them. Some of these trends are industry specific, some apply to manufacturing broadly. … Also: a look at exciting new medical applications for disruptive technology Crispr.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 22.
Markets
Stocks and Energy Markets Whipsaw After Russian Attack on Ukraine | N
How the Russia-Ukraine Crisis Is Shaking Markets and Portfolios | N
What Russia’s Invasion of Ukraine Means for Investors | W
Oil-Price Surge Threatens U.S. Growth | W
China Crackdown Leaves Bond Investors With Few Places to Hide | B
U.S. bonds: 10-year Treasury yield cuts losses but still below 2% | C
Central banks
Federal Reserve Isn't Likely to Change Course After Ukraine Invasion | N
Global
Russian Invasion Scrambles Prospects for Global Economy | W
US
U.S. Jobless Claims Fall Amid Tight Labor Market | W
Grocery prices keep rising but CEOs say shoppers are still buying | C
White House Lays Out Broad Changes to Address Supply-Chain Shortfalls | W
Inflation Threatens to Erode Impact of $1 Trillion Infrastructure Law | W
Geopolitics & trade I
Russia Invades Ukraine, Aims to Oust Zelensky Government | W
Russia’s Strike Changes Not Just Ukraine but the World | W
Ukraine Invasion Is Putin’s Most Aggressive Move Yet to Restore Russia’s Place in the World | W
War on Ukraine Ends Europe’s Dream of Russia as a Friend | W
Why Europe depends on Russia for natural gas | C
Russia Just Seized Chernobyl. Here’s Why It Matters. | Mother Jones
Geopolitics & trade II
Biden vows wider sanctions on Russia in effort to cut Moscow off from the global economy | C
U.S., Allies Roll Out Fresh Sanctions on Russia Amid Debate Over How Hard to Hit | W
Russia Could Use Cryptocurrency to Mitigate U.S. Sanctions | N
Bitcoin donations to Ukrainian military soar as Russia invades | C
China Nods to Russia’s Interests in Attack on Ukraine | W
China refuses to call attack on Ukraine an ‘invasion,’ blames U.S. | C
Industries & companies
Media: Netflix, Disney+, HBO Max, other streaming services: Subs, ARPU, Q4 2021 | C
Media: Google (GOOGL) Faces Sanctions Dilemma With Pro-Russia YouTube Channels | B
Media: Fed Up With Google, Conspiracy Theorists Turn to DuckDuckGo | N
Corporate finance
Justice Department Sues to Block UnitedHealth’s Planned Buy of Change Healthcare | W
Beyond markets
Big Tech Makes a Big Bet: Offices Are Still the Future | N
February 24 (Thursday)
Latest Morning Briefing Executive Summary: Sentiment, Industrials, and Crispr
Stock market bearishness is increasing, which is bullish from a contrarian perspective. The Bull/Bear Ratio has dropped close to levels that have heralded great buying opportunities in the past. That doesn’t preclude further stock market declines, but it does suggest that bargain buying for the long term makes sense. … A confluence of trends points to boom times for manufacturing industries and the businesses that support them. Some of these trends are industry specific, some apply to manufacturing broadly. … Also: a look at exciting new medical applications for disruptive technology Crispr.
(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 22.
Markets
U.S. Stocks Extend Slide Over Ukraine Concerns | W
Equities tumble and U.S. dollar rises as Russia/ Ukraine fears escalate | R
Russia-Ukraine Crisis Troubles the Stock Market | N
Central banks
The market has adjusted its views of how the Federal Reserve will raise interest rates | C
The Case Against Fed Gradualism by Willem H. Buiter | Project Syndicate
US
What Russia's Conflict in Ukraine Means for the U.S. Economy | N
Some Companies Ditch Annual Raises and Review Worker Pay More Often | W
Europe
With Nord Stream 2 Freeze, Germany Takes First Step to Cut Russian Gas Reliance | W
Geopolitics & trade
Ukraine Crisis Kicks Off New Superpower Struggle Among U.S., Russia and China | W
Ukraine separatists seek Russian help as U.S. says attack is ready | R
Ukraine President Urges Russian Citizens to Oppose War as Invasion Warnings Mount | W
Cyberattack hits Ukrainian banks and government websites | C
U.S., Europe Ramp Up Sanctions on Russia, Plan More in Case of Military Escalation | W
Russia’s Moves in Ukraine Put Another Foreign-Policy Crisis at Center of Biden’s Agenda | W
Virus
The C.D.C. Isn’t Publishing Large Portions of the Covid Data It Collects | N
Masks in Schools: Districts Get Caught Between Health Authorities and Parent Pushback | W
February 23 (Wednesday)
Latest Morning Briefing Executive Summary: Inflating Fundamentals vs Deflating Valuations.
The Ukraine crisis has triggered the stock market’s 74th panic attack of this bull market, by our count. Coming on the heels of the 73rd panic attack, the two together qualify as a correction. Could it become a bear market? Perhaps if much higher oil and gas prices result from the crisis, but that’s hard to conclude. What we do expect over the near term is more of the same sideways trading with volatile swings. Notably, however, geopolitical crises have often been buying opportunities for stock investors. … And while valuations have been deflating lately, fundamentals—revenues, earnings, and profit margins—have been inflating dramatically. … Also: What members of the “Federal Open Mouth Committee” have been saying about the course of monetary policy. (subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 22.
Markets
S&P 500 closes in correction territory, Dow drops 480 points as Russia-Ukraine conflict intensifies | C
Rising Rates Hit Munis | W
Oil Prices Approach $100 a Barrel on Threat of Russia-Ukraine War | W
New England Power Plants Burn Most Oil Since 2011 as Gas Soars | B
Central banks
Russia's Ukraine incursion could cloud the Federal Reserve rate moves | C
US
Economy Gained Momentum in February Despite Inflation Worries | W
Home-Price Growth Hit Record in 2021 | W
Interest Rates Are Rising. What If You Want a House? | N
Commercial Real Estate Is Seen as an Inflation Hedge, but That Isn’t Always the Case | W
China
China Fights Latest Debt Crisis With Firm That Caused Last One | B
Geopolitics & trade
IEA Says Monitoring Russian Statements ‘With Growing Concern’ | B
Biden sends troops to Baltics, F-35s to NATO's eastern flank -U.S. official | R
Biden says U.S. will sanction Russian financial firms, sovereign debt and individuals after Ukraine incursion | C
EXCLUSIVE Punishing Putin: How Biden could cut Russia off from world tech | R
Ukrainian president drafts reservists but rules out general mobilisation for now | R
EU agrees sanctions 'to hurt Russia' over Ukraine crisis | R
Industries & companies
Autos: The chip shortage is so bad GM dropped heated seats in winter | C
Consumer discretionary: Amazon sues alleged fake-review brokers AppSally and Rebatest | C
Virus
Covid infections plummet 90% from U.S. pandemic high, states lift mask mandates | C
February 22 (Tuesday)
Latest Morning Briefing Executive Summary: Pieces of the Economic Puzzle.
Are consumers more depressed about inflation or more optimistic about employment? Our Consumer Optimism Index, which captures both trends, stands well below pre-pandemic levels, suggesting the former. In fact, January’s strong retail sales may reflect inflation-driven behavior, i.e., the inclination to buy in advance of price rises. … We also examine what’s happening behind the data for industrial production, inventories, transportation, construction, capital spending, and trade. … And: What’s the Fed’s take on the inflation problem? Officials have abandoned the term “transitory” but apparently not the hope. We have only one word for that: “delusional.” (subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 14.
Markets
Frackers Push Into Once-Dead Shale Patches as Oil Nears $100 a Barrel | W
Central banks
Fed Official Leaves Door Open to Larger Rate Increase in March | W
Global
Inflation is surging, and corporate pricing is, too - Vox
US
The Inflation Mess and a Financial Refuge | W
Worried About Inflation and Supply Constraints? Try Being a Small Business. | W
Jenny Schuetz on Fixer-Upper, a plan to solve America’s many housing crises. | Slate
Geopolitics & trade
Putin orders forces into rebel eastern Ukrainian regions after decree | C
Biden orders sanctions on rebel areas of Ukraine after Putin decree | C
Putin’s Endgame: Unravel the Post-Cold War Agreements That Humiliated Russia | W
Canada's parliament approves Trudeau's emergency powers | R
In Eastern Ukraine, Life Under Shelling by Russian-Backed Forces Becomes Untenable for Many | W
Virus
Covid: UK to roll out additional vaccine shot for over 75s, vulnerable people | C
Beyond markets
Larry Fink as Wall St. Dr. Evil?: ‘Woke’ within reason | P
75% of people want single-use plastics banned, global survey finds | R
February 21 (Monday)
Latest Morning Briefing: Executive Summary. Insurance, Tech & EVs.
Visions of higher interest rates to come are stoking investors’ optimism about prospects for financial services companies, fueling the S&P 500 Financials sector’s impressive ytd outperformance. Within the sector, the insurance industry has been faring well by both earnings and share-price measures as pricing power and strong investment returns have helped to offset higher costs and losses. … Also: Washington has guns out for Big Tech; we recap recent regulatory and (bipartisan!) legislative initiatives afoot. … And we survey the playing field for electric vehicles after their starring roles in Super Bowl ads.(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 14.
Markets
Stock Market’s Next Move Is Lower. It’s Not Just Russia and the Fed. | BR
Stocks fall, bonds rise on Ukraine tensions | R
Rising Treasury Yields Are Diminishing the Appeal of Dividend Stocks | BR
Europe Looks Beyond Russia for Natural Gas. These Companies May Benefit. | BR
Russia-Ukraine Tensions Power Gold to Eight-Month Highs | W
Central banks
Ukraine and Inflation Are Wild Cards as Western Central Banks Look to Reset Policy | BR
The Fed Is Scrambling to Tame Inflation While Avoiding a Recession | BR
How the Fed Will Reduce Its Balance Sheet: Slow and Steady | BR
Fed chief Powell to give policy update to Congress in early March | R
US
Fiscal Stimulus Is Turning Into a Fiscal Drag, in a Big Headwind for Growth | W
How states are using, and misusing, funds from the American Rescue Plan | E
Europe
Germany’s plans for wind power are dauntingly ambitious | E
China
China’s Latest Default Warning Takes Shock Factor to Extreme | B
Geopolitics & trade
NATO's chief says Russia could invade Ukraine 'without any warning' | C
Russia Extends Belarus Drills for Thousands of Troops as Ukraine Violence Escalates | W
Alexander Gabuev writes from Moscow on why Vladimir Putin and his entourage want war | E
Whether he invades Ukraine or backs down, Putin has harmed Russia | E
Why Russia has never accepted Ukrainian independence | E
Ukraine’s second city braces for war. Sort of | E
Ukraine braces for cyber invasion | E
China wants to insulate itself against Western sanctions | E
Industries & companies
Consumer discretionary: Amazon's sprawling grocery business has become an 'expensive hobby' | C
Pharma: Covid-19 Pill Access at Risk as Pharmacies Push for Bigger Payments | W
Tech: Why Apple, Amazon and Google Are Uniting on Smart-Home Tech: Matter Explained | W
Tech: Apple Finds Itself Under Scrutiny in Washington’s Big Tech Clampdown | W
Beyond markets
Beijing Winter Olympics End With Record Gold Haul for China | B
The true cost of empty offices | E
Thanks to Remote Work, Many in Gen Z May Never Work in an Office. Will It Matter? | W
Massive Credit Suisse leak reportedly reveals possible criminal ties among 18,000 accounts | C
February 19 (Saturday)
Latest Morning Briefing: Executive Summary. Insurance, Tech & EVs.
Visions of higher interest rates to come are stoking investors’ optimism about prospects for financial services companies, fueling the S&P 500 Financials sector’s impressive ytd outperformance. Within the sector, the insurance industry has been faring well by both earnings and share-price measures as pricing power and strong investment returns have helped to offset higher costs and losses. … Also: Washington has guns out for Big Tech; we recap recent regulatory and (bipartisan!) legislative initiatives afoot. … And we survey the playing field for electric vehicles after their starring roles in Super Bowl ads.(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 14.
Markets
Dow sheds more than 200 points as Russia-Ukraine tensions roil markets | C
Stocks fall, bonds rise on Ukraine tensions | R
Central banks
Fed will hike rates regardless if Biden's nominees are confirmed, economists say | C
Fed Officials Lean Against Expectations of Half-Point Increase in March | W
Fed chief Powell to give policy update to Congress in early March | R
Fed approves rules banning its officials from trading stocks, bonds and also cryptocurrencies | C
US
U.S. Home Sales Jumped 6.7% in January Amid Record-Low Inventory | W
Biden Shifts Inflation Message to Show He Feels Americans’ Pain | W
Geopolitics & trade
U.S. Warns of Imminent Russian Invasion of Ukraine With Tanks, Jet Fighters, Cyberattacks | W
Biden believes Putin has decided to attack Ukraine in coming days | C
We spoke to 7 ex-CIA and Pentagon experts. Here's what they say Putin wants in Ukraine. | ampproject.org
Virus
Another Potential Covid-19 Lab Leak Clue | W
Pfizer’s Covid-19 Vaccine for Kids Isn’t Working Well Against Omicron So Far, Delaying FDA Review | W
Beyond markets
'Earthships': off-the-grid homes made of recycled garbage | C
February 18 (Friday)
Latest Morning Briefing: Executive Summary. Insurance, Tech & EVs.
Visions of higher interest rates to come are stoking investors’ optimism about prospects for financial services companies, fueling the S&P 500 Financials sector’s impressive ytd outperformance. Within the sector, the insurance industry has been faring well by both earnings and share-price measures as pricing power and strong investment returns have helped to offset higher costs and losses. … Also: Washington has guns out for Big Tech; we recap recent regulatory and (bipartisan!) legislative initiatives afoot. … And we survey the playing field for electric vehicles after their starring roles in Super Bowl ads.(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 14.
Markets
Dow Falls More Than 600 Points, Its Worst Day of 2022 | W
Gold jumps, stocks slide on Ukraine tensions mount | R
If Russia Hurts Wall Street, Don’t Expect Fed Help | W
Energy
Oil Prices: How the World Went From -$40 to Nearly $100 For Crude Oil | B
Europe’s Energy Crisis Pays Off for U.S. Natural-Gas Sellers, Global Traders | W
EU Plans Gas Storage Push to Avoid Crisis Next Winter After Record Energy Prices | B
EU Eyes Bolstering Carbon Market Transparency as Prices Surge | B
Central banks
Mester Backs Faster Fed Interest Rate-Hike Pace If Needed to Tame Prices | B
Fed Traders Have Dialed Back Bets on a Supersized March Interest Rate Hike | B
What could drive the Fed to a 'Plan B' for balance sheet reduction | R
Why Republicans Stalled Raskin’s Bid for Top Fed Post: Climate Views, Business Ties | W
Joe Manchin Remains Undecided on Biden's Fed Nominees | B
US
Pay raises but higher prices: How inflation is affecting workers’ paychecks | Vox
Opinion: Why inflation is about to peak | NN
Inflation Should Moderate in Coming Months, White House Economist Says | W
Mortgage Rates Close In on 4%, Making Home Affordability Tougher | W
Americans Are Emerging From the Pandemic Ready to Splurge on Events and Travel | W
China
Baidu, Other Chinese Tech Names May Join Hang Seng in Reshuffle | B
Geopolitics & trade
Ukraine shelling renews invasion fears as Russia expels U.S. diplomat | R
Ukraine crisis: Blinken makes dramatic bid at UN to prevent Russian invasion | C
How Well Could Russia’s Economy Withstand Sanctions? | W
China Is South America's Top Trading Partner. Why Can't the US Keep Up? | B
Industries & companies
Autos: Ford's Mustang Mach-E tops Tesla's Model 3 in Consumer Reports list | C
Retail: Walmart says shoppers are on alert as grocery bills climb | C
Virus
California lays out plan to live with Covid for the long-term, fight future surges and new variants | C
Will Adults Need a Fourth Dose of Covid Vaccine? It’s Too Soon to Know. | N
February 17 (Thursday)
Latest Morning Briefing: Executive Summary. Insurance, Tech & EVs.
Visions of higher interest rates to come are stoking investors’ optimism about prospects for financial services companies, fueling the S&P 500 Financials sector’s impressive ytd outperformance. Within the sector, the insurance industry has been faring well by both earnings and share-price measures as pricing power and strong investment returns have helped to offset higher costs and losses. … Also: Washington has guns out for Big Tech; we recap recent regulatory and (bipartisan!) legislative initiatives afoot. … And we survey the playing field for electric vehicles after their starring roles in Super Bowl ads.(subscribers' link)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 14.
Markets
Stocks Pare Losses After Fed Minutes | W
China Tech Stocks Outlook Improves Year After $1.5 Trillion Rout | B
Energy
Pioneer Pledges to Hold U.S. Shale Output Near Flat in 2022 | B
Putin’s threats against Ukraine could reinvigorate the U.S. oil and gas industry | C
Central banks
Fed Eyeing Potential for Faster Rate Increases to Ease Inflation | W
Minutes show Fed ready to raise rates, shrink balance sheet soon | C
Readout of January meeting shows Fed not wed to particular pace of rate hikes | R
Pimco Sours on Chinese Sovereign Debt as Policy Splits From Fed | B
Raising Rates in Europe Isn’t as Simple as It Sounds | W
US
U.S. Retail Sales Jump as Inflation Surges | W
China
China courts freeze $157 mln of Evergrande assets over missed construction payments | R
Geopolitics & trade
Russia's military build-up near Ukraine is growing, not shrinking, warns West | C
Russia adds 7,000 troops to Ukraine border, despite claims it would withdraw some forces, U.S. says | C
How a Russia-Ukraine conflict could impact the economy and markets | The Hill
Industries & companies
Communications services: Google plans privacy change similar to Apple’s, which wiped $230 billion off Facebook’s market cap | C
Corporate finance
Permian Driller Colgate Explores $5 Billion Sale
Crypto
Crypto Firms Including Coinbase, Gemini Work Together to Meet U.S. Money-Laundering Rule | B
Can Bitcoin Be a National Currency? El Salvador Is Trying to Find Out. | W
Virus
U.S. officials prepare for pandemic's next phase as Omicron wanes | R
CDC wants to give people a break from wearing masks as pandemic improves, director says | C
Climate
Study finds Western megadrought is the worst in 1,200 years | NPR
The Arctic could see ice-free summers by 2035, reshaping global shipping routes | C
Beyond markets
Grief-stricken pet owners usher in Instagram and TikTok’s new influencers: Their cloned cats and dogs | C
February 16 (Wednesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 14.
Markets
Stocks rally, oil slips as Russia-Ukraine tensions ease | R
Major U.S. Stock Indexes Reverse Three Days of Losses | W
As oil prices soar, U.S. drillers scramble to find sand for fracking | R
Soaring lumber price adds nearly $19,000 to the cost of a new home | C
Central banks
The Fed Missed Inflation. Can Jay Powell Tame It Without Causing a Recession? | W
Senate Republicans Block Vote on Biden’s Fed Nominees | W
Vote on Biden Fed picks delayed as GOP presses for answers on Raskin ties to firm | C
Bank regulator disputes KC Fed claim about firm linked to Biden nominee Raskin | C
US
Supplier Prices Jumped Last Month as U.S. Inflation Surged | W
How Much Are Home Rents Rising? Prices Surge by Record in Hot US Housing Market | B
China
How Chinese Nationalism Hit Nike, Adidas After Western Brand Boycotts | B
Geopolitics & trade
Russia Says Some Troops Pulling Back From Ukraine Border, as Diplomatic Solution Sought | W
Russia Says Troop Pullback Begins; Putin Meets Olaf Scholz: Ukraine Update | B
Ukraine-Russia crisis: Biden pledges ‘full force’ to defend Americans, NATO allies | C
Boris Johnson Proposes Stopping Russian Companies From Raising Capital in U.K. | B
Industries & companies
Media: ViacomCBS changes name to Paramount to underscore streaming future | C
Virus
China's Xi Jinping Says Hong Kong Should Tackle Covid by All Means | B
Moderna Omicron Vaccine: 3,000 U.K. Volunteers Sought for Trial | B
Coachella, Stagecoach Drop Covid Vaccine, Testing, Mask Requirements | B
Babies are protected from hospitalization for Covid if their moms get vaccinated, study suggests | C
February 15 (Tuesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 14.
Markets
As markets churn over Russia-Ukraine conflict, history shows fleeting impact | R
Central banks
Fed's Bullard says the central bank's 'credibility is on the line,' needs to 'front-load' rate hikes | C
Central Bank Should Weigh Asset Sales to Curb Inflation, Says Fed Official | W
PBOC Pumps in More Liquidity to Boost China Economic Growth | B
US
Wall Street's go-to recession indicator is starting to get attention | NN
Manchin Pushes Democrats to Revisit Tax-Rate Hikes, Sinema Could Present a Roadblock | W
Biden rages and rambles in interview because he has no good answers on inflation or masks | P
Supply-chains
Trucking Rates, Delays Increase Amid Canada Disruptions | W
Canada’s Trudeau Invokes Emergency Powers to Address Trucker Protests | W
Truck driver shortage demands action — better wages, working conditions are part of the solution | TheHill
Geopolitics & trade
Russia Accelerates Troop Buildup Along Ukraine Border | W
U.S. embassy in Kyiv closes, citing an acceleration of Russian threat | C
Industries & companies
Pharma: Moderna, Pfizer stocks fall as Covid omicron wave subsides in U.S. | C
Real estate: People Are Going Out Again, but Not to the Office | W
Corporate finance
Intel Nears Roughly $6 Billion Deal to Buy Tower Semiconductor | W
February 14 (Monday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 7.
Markets
Inflation, Ukraine Invasion Threat Stoke Outlook for More Stock Volatility | W
Inflation, Interest-Rate Jitters, and Putin Are Brewing a Fierce Storm for the Stock Market | BR
We've reached peak Fed mania | NN
What would happen if financial markets crashed? | E
Natural Gas Has Seen Big Price Swings. Why Investors Should Buckle Up. | BR
The truth about dirty assets | E
Central banks
A Half-Point Fed Rate Hike Now Seems Probable. Here’s How to Tell What’s Next. | BR
Fed's Daly advocates for a 'measured' approach as rate hike expectations rise | C
US
Inflation Is Everywhere, Including Places You Might Not Expect | W
Inflation Was Hottest in Atlanta, Mildest in San Francisco in 2021 | W
Is Recession The Only Cure For Inflation? | Investing.com
Biden's Stimulus Made Inflation Worse | National Review
Democrats and Republicans Stop Fighting, Start Passing Bills | W
Emerging
India’s Economy Hinges on the Return of Workers Who Fled to Their Villages | W
Geopolitics & trade
Biden Speaks to Ukrainian Leader Volodymyr Zelensky as Prospect of Conflict Looms | W
Pentagon orders departure of U.S. troops in Ukraine | C
Biden Warns Putin of ‘Swift and Severe Costs’ of Invading Ukraine | W
White House national security advisor describes what Russian attack on Ukraine might look like | C
Diplomacy has created an opening for detente in Ukraine, but beware a trap | E
A beleaguered Olaf Scholz launches a diplomatic offensive | E
Despite thriving trade, China’s relationship with Brazil is weakening | E
U.S., Japan and South Korea Present United Front on North Korea | W
Industries & companies
Autos: Ford Stock’s Rally Is Fizzling. Why Its Stock Is Still a Buy. | BR
Energy: Exxon Stock Has Surged. A Big Investor Sold $120 Million of Shares. | BR
Real estate: 4 Stocks That Could Thrive During Inflation | BR
Tech: After the Great Resignation, Tech Firms Are Getting Desperate | WIRED
Corporate finance
Cisco Made $20 Billion-Plus Takeover Offer for Splunk | W
Private Equity Surges in China as Broader M&A Market Stalls | W
Technology
Elon Musk Says SpaceX Could Use Florida Site to Test Starship Rocket | W
The Technology That’s Helping Companies Thrive Amid the Supply-Chain Chaos | W
Virus
Omicron’s Threat to Global Economy Increasingly Runs Through China | W
Beyond markets
Brokers, Casinos, and Social Media Are Turning Nearly Everyone Into Digital Addicts | BR
February 12 (Saturday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 7.
Markets
Dow drops 500 points, Nasdaq sinks more than 2% on fears of a Russian attack on Ukraine | C
Stocks Slide Amid Ukraine Concerns, Inflation Data | W
Central banks
The Fed is still likely to take a measured approach to rate hikes despite calls for bigger action | C
Fed Staff Reported Securities Trades Amid Bank’s 2020 Stimulus Moves | W
US
Higher Savings Rates? Don't Expect Them Soon. | N
Geopolitics & trade
White House warns Russia could invade Ukraine in days, urges Americans to leave | C
Biden, Putin to Talk Saturday With Tensions High: Ukraine Update | B
Industries & companies
Autos: Why Your Car Might Be Worth More Today Than When You Bought It | W
Tech: The metaverse is just a new word for an old idea | MIT
Corporate finance
Cisco Made $20 Billion-Plus Takeover Offer for Splunk | W
Apollo Nears $2.3 Billion Deal for Worldline’s Terminal Business | W
Virus
Covid: No one knows when the pandemic will end after omicron upended most hope | C
Pfizer delays FDA application to expand Covid vaccine to kids under 5 until April | C
Robust Covid-19 Booster Protection Wanes After Four Months, CDC Says | W
Beyond markets
Prepare Yourself for This Weekend’s ‘Crypto Bowl’ | N
February 11 (Friday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 7.
Markets
Stocks Finish Sharply Lower, Bond Yields Rise After Inflation Data | W
10-year Treasury yield tops 2% for the first time since 2019 after hot inflation | C
Why High Gasoline Prices Could Stick Around for a While | W
Central banks
Surging Inflation Heightens Fed Debate Over How Fast to Raise Rates | W
Fed's Bullard calls for big hike in interest rates to fight inflation | R
Citi forecasts Federal Reserve to raise rates by 50 basis points in March | C
Federal Reserve to Test Ability of Largest Banks to Weather Recession | W
Tired of inflation? The Federal Reserve's actions won't provide any relief for months | C
US
U.S. consumer prices post largest annual gain in 40 years as inflation becomes widespread | R
President Biden Gets Inflation Wake-Up Call as Odds Rise for Republican Takeover | B
Biden touts wage growth, slower inflation forecasts after another surge in prices | C
Industries & companies
Consumer: Ben & Jerry’s Owner Unilever Says Soaring Costs Will Eat Into Profit | W
Real Estate: Zillow’s Shuttered Home-Flipping Business Lost $881 Million in 2021 | W
Geopolitics & trade
Russia’s Massive Military Drills on Ukraine Border Stir Invasion Fears | W
U.S. urges Canada to use federal powers to ease border protest disruption | R
Canadian Mayor Makes Plea for Injunction as Trucker Protest Limits Ford, GM Auto Production | W
EU Chips Act: Europe will need help from US, Asia to achieve goals | C
Virus
In U.K.’s Omicron Wave, Many People Are Dying With Covid-19, Not From It | W
As Omicron Declines, U.S. Rethinks Mask Guidance and Covid-19 Measures | W
February 10 (Thursday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 7.
Markets
Global stocks rise on strong earnings, tech sector strength | R
Nasdaq Jumps 2% as Stocks Extend Rally | W
Consumers face years of high energy prices, Big Oil CEOs warn | R
Central banks
Fed hopes economy is on cusp of inflation slowdown as rate hikes loom | R
US
What jobs do Americans want? Hot job searches include real estate, health care, and pilot jobs | Vox
Don’t Expect Rising Interest Rates to Boost Your Savings Account | W
Program to Cut Student Debt Sticks Some With Even More | W
Supply-chains
The Real Reason America Doesn’t Have Enough Truck Drivers | N
Geopolitics & trade
Russia Thrived as It Integrated With the West—a New Cold War Is Unraveling That | W
Industries & companies
Autos: Tesla’s (TSLA) 2020 Decision to Pause Model X Was ‘Idiotic,’ Musk Says | B
Media: Disney’s Earnings Show Rebound in Disney+, Parks Businesses | W
Technology
Lessons From the Retro-Future of the Internet | The Atlantic
A 3D printed gelatin finger is the next step in soft robotics | Popular Science
Virus
Covid-19 Hospitalizations Track Downward, 30% Off Peak | W
New York to Drop Indoor Mask Mandate for Businesses | W
Beyond markets
Russia Skater Valieva Who Landed Olympics Quad Tests Positive for Drug: Report | B
Canada Trucker Protest: Police Threaten Criminal Charges Against Drivers | B
February 09 (Wednesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 7.
Markets
Stocks week ahead: Why there's no need to fear a bear market | NN
Investors Gobble Up Dividend Stocks During Market Turbulence | W
Energy markets take a costly turn with the drama of world tensions | TheHill
Central banks
BOJ Holds Fire, Sticks to Bond Buying Plan as Yields Test Limit | B
US
Modern Monetary Theory Got a Pandemic Tryout. Inflation Is Now Testing It. | N
U.S. Trade Deficit Hit Record in 2021 as Americans Spent on Computers, Games | W
U.S. Households Took On $1 Trillion in New Debt in 2021 | W
Covid-19 Pandemic Led to Smaller-Than-Expected Baby Bust, New Data Suggest | W
Geopolitics & trade
Analysis: Kremlin watchers detect signs Putin wants to defuse Ukraine crisis | R
Energy expert Dan Yergin on Russia-Ukraine tensions, gas prices | C
Ukraine’s Zelensky Wants to Fend Off Russia—and America, Too | W
China Fell Short of Trump Trade-Deal Purchase Promises | B
Key Ambassador Bridge In Gridlock as Canada Trucker Protest Halts Traffic | B
Industries & companies
Autos: President Joe Biden Breaks Silence on Tesla (TSLA) by Touting U.S. Manufacturing | B
Consumer: Edgewell CEO: Return-to-office will boost demand for personal care items | C
Tech: Big tech is trying to kill the Senate's open-market bill | P
Crypto
China’s fully cashless society a step closer after two private banks end services for banknotes and coins | SCMP
Justice Department Says It Seized $3.6 Billion Worth of Bitcoin Stolen in 2016 Hack | W
How Crypto’s Original Bubble Boy Rode Ethereum And Is Now Pulling The Strings Of The DeFi Boom | FO
They Made Millions on Luna, Solana and Polygon: Crypto’s Boom Beyond Bitcoin | N
Corporate finance
China Unicorns Facing IPO Freeze Tap $240 Billion Private Market | B
SoftBank Pitches IPO for Arm After Deal With Nvidia Falls Through | W
Virus
WHO says new omicron BA.2 subvariant will rise globally | C
J.&J. Pauses Production of Its Covid Vaccine Despite Persistent Need | N
Trudeau Is Rebuked by Member of His Government Over Covid Rules | B
Climate
Corporate climate pledges promise weak emissions reductions -report | R
Beyond markets
'Power of the Dog,' 'Dune' lead nominations in battle for Oscars glory | R
February 08 (Tuesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on February 7.
Markets
Stocks Close Lower at End of Choppy Trading Day | W
Meta weighs on U.S. shares, European stocks rise after rout | R
Elevated Bond Yields Approach Key Milestone | W
Global
Worker Shortages: The U.S. and China Both Have a Talent Problem | B
US
Biden sets first-year record with 6.6 million jobs added | NN
U.S. on the road to 1950s-style unemployment, but it may only be a pit stop | R
The jobs report was misleading us all last year. Here's why. (slate.com)
In Covid-19 Housing Market, the Middle Class Is Getting Priced Out | W
Two Years Into Pandemic, Shoppers Are Still Hoarding | W
Geopolitics & trade
Biden Says Nord Stream 2 Pipeline Won’t Go Forward if Russia Invades Ukraine | W
Biden, Germany's Scholz stress unity against Russia on Ukraine | R
Macron sees decisive next few days in Ukraine standoff | R
Macron Meets With Putin as France Tries to Flex Diplomatic Muscle Over Ukraine | W
Industries & companies
Consumer discretionary: Amazon (AMZN) Raises Base Salary Maximum to $350,000 From $160,000 | B
Tech: Why the Metaverse Will Change the Way You Work | W
Corporate finance
Frontier to Buy Spirit Airlines in Cash-and-Stock Deal | W
Climate
Climate Scientists Encounter Limits of Computer Models, Bedeviling Policy | W
Green Startups Stumble, Accelerating Selloff of Risky Stocks | W
February 07 (Monday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 31.
Markets
Emerging Market Value Stocks Look Ready to Run | BR
Global
China’s Slowdown to Limit Global Growth but Not Undermine World Economy | W
Why the world is saving too much money for its own good | E
How We Broke the Supply Chain | The American Prospect
Ottawa mayor declares state of emergency to deal with trucking blockade | R
Central banks
Despite Jobs Blowout, Here’s a Reason to Bet on a Less Aggressive Fed | BR
Interest rates may have to rise sharply to fight inflation | E
US
Yellen Says ‘No Plans to Leave’ With Goals Far From Accomplished | B
Joe Manchin Predicts Passage for U.S. Electoral Reform Act | B
Worker Absences From Covid-19 Hold Back Companies’ Growth | W
Robert Reich discusses how the U.S. economy survives remote workforce | C
The Great Resignation Was Inevitable, Says the Texas A&M Professor Who Coined the Term. Here’s What Comes Next. | BR
The New Post-60 Career Paths | W
New guaranteed income experiments inspired by Martin Luther King Jr. | C
Europe
Europe Is Making a Comeback, but Germany's Economy Is Different | BR
China
Building a metaverse with Chinese characteristics | E
Chinese New Year is disrupted for a third year | E
Geopolitics & trade
U.S.-Led Air Bridge of Weapons to Ukraine Seeks to Shore Up Kyiv’s Ability to Resist Russia | W
Biden security adviser Sullivan says Russian invasion could come 'any day now' | C
Biden’s Berlin Gas Airlift | W
U.S. Readies New Asia-Pacific Economic Strategy to Counter China | W
France's Macron flies to Moscow in high-risk diplomatic mission | R
Industries & companies
Airlines: Airlines Face Unexpected Safety Issue in Pandemic: More Bird Strikes | W
Tech: Facebook Tumbled After Earnings. Now, Should You Buy or Sell Meta Stock? | BR
Tech: A Big Tech Trade Is Losing Its Luster | W
Virus
Covid Cases Are Waning. What the New Normal Could Look Like. | BR
Crypto & climate
Cryptos Could Be a ‘Speculative Mania,’ Economist Eswar Prasad Says | BR
Tens of Thousands Still in Dark in Tennessee After Winter Storm | W
Beyond markets
A Uyghur Skier Became the Face of China’s Winter Olympics. The Next Day, She Vanished From the Spotlight. | W
SpaceX’s Starlink Satellites Are Photobombing Astronomy Images, Study Says | W
February 05 (Saturday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 31.
Markets
S&P 500 Rises After Amazon Earnings, Jobs Report | W
10-Year Treasury Yield Surges Above 1.9%, Highest Since 2019 | W
World equities wobble as bond yields rise after positive U.S. jobs data, earnings | R
Amazon Breaks Record for One-Day Gain in Market Cap | W
Central banks
Jobs Report: Fed's Fight Against Inflation Looks a Lot Harder Now | B
Explainer: What's next as Biden's Fed nominees await Senate action | R
Global
Industrial Strength: Supply Woes Raise the Risk of ‘Profitless Prosperity’ | B
US I
Jobs report January 2020: Payrolls show surprisingly strong gain of 467,000 despite omicron surge | C
Here's where the jobs are for January 2022 — in one chart | C
Trouble hiring leads to record low layoffs and firings | Vox
These workers are the only ones really seeing higher wages amid rising inflation | NN
US II
Biden says January jobs gains prove the economy is no longer at the mercy of Covid | C
How the Biden administration misread the inflation threat | C
Can a guaranteed income keep people out of prison? - Vox
Republican Priority: Make Trump Tax Cuts Permanent | W
Geopolitics & trade
Putin, Xi Aim Russia-China Partnership Against U.S. | W
Industries & companies
Communication services: 6 Reasons Meta Is in Trouble | ampproject.org
Consumer: Amazon's Profits Overshadow a Troubled Workplace | B
Corporate finance
Peloton stock surges on report Amazon is among potential buyers | C
Climate, cybersecurity & cryptocurrency
U.S. Project Reaches Major Milestone toward Practical Fusion Power | Scientific American
Cyberattack on News Corp, Believed Linked to China, Targeted Emails of Journalists, Others | W
MIT experts test technical research for a hypothetical central bank digital currency | MIT News
Virus
Omicron-specific booster may not be needed, U.S. monkey study finds | R
Though rare, Moderna Covid vaccine recipients have higher risk of heart inflammation than Pfizer | C
Beyond markets
Inside Spotify’s Joe Rogan Crisis | W
Tech companies acknowledge rejecting remote work could cost them talent | C
February 04 (Friday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 31.
Markets
Disappointing Meta, PayPal Earnings Send Shudders Through Stock Market | W
U.S. oil prices top $90 a barrel for the first time since 2014 | C
Oil Frackers Brace for End of the U.S. Shale Boom | W
Central banks
As Inflation Soars, Central Banks Scramble to Lift Rates | W
GOP senator grills Biden Federal Reserve nominee Sarah Bloom Raskin | C
Sarah Raskin’s Systemic Risk at the Federal Reserve | W
US
Why the January Jobs Report May Disappoint, and Is Sure to Perplex | N
January jobs report could show omicron caused sharp fall in payrolls | C
Housing wealth is setting new records for both owners and sellers | C
America's economic recovery is about to go into reverse | NN
Opinion | Wealth Inequality Is the Highest Since World War II | N
Geopolitics & trade
Global Tax Deal Would Undercut U.S. Tax Breaks, Businesses Warn | W
China’s Unspoken Winter Olympics Theme: ‘We’re Here, Get Used to It’ | W
U.S. Says Russia Is Planning to Fabricate a Pretext to Invade Ukraine | W
Industries & companies
Airlines: Southwest will bring booze back on board Feb. 16 after nearly two years | C
Autos: Used-car prices may be easing, research shows | C
Autos: Ford Earnings (F): Profit Falls Short of Estimates Despite Rising Car Prices | B
Consumer: Amazon hikes Prime membership fees in U.S. as wages, costs rise | R
Consumer: Amazon (AMZN) Stock Jumps Set for Biggest One-Day Gain in Market Value Ever | B
Tech: Is Big Tech a Safe Stock Bet? Meta's (FB) $250B Crash Has Traders Weighing Risk | B
Digital currency
India budget 2022: Digital rupee and crypto tax announced | NN
Virus
U.S. Covid-19 Hospitalizations Continue Tracking Downward | W
February 03 (Thursday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 31.
Markets
Stocks rise for a fourth straight day as Alphabet fuels tech gains, Dow jumps more than 200 points | C
Stocks Extend Winning Streak to Four Sessions | W
Growth Hedge Funds Suffer Worst Rout in Years | W
U.S. yield curve inversion may be 'false positive' recession signal - Credit Suisse | R
Global
A Normal Supply Chain? It’s ‘Unlikely’ in 2022. | N
Central banks
The Fed Is Trapped: It Has No Room to Taper or Raise Rates | Mises Wire
As Fed fights inflation, ‘dovish’ may not define Biden’s newest nominees | R
Sarah Bloom Raskin Faces Senate Questions Over Climate Views | W
Who is Lisa Cook? Historic Federal Reserve nominee faces Senate hearing | C
ECB seen on hold but may acknowledge inflation risks | R
US
Consumers Are Pivoting Spending to Services Like Dining and Travel | W
January's payrolls report could show as many as 400,000 jobs lost | C
How Rent Hikes Make Buying a House Even Harder | W
U.S. National Debt Exceeds $30 Trillion for First Time | W
China
China Fortifies Its Borders With a ‘Southern Great Wall,’ Citing Covid-19 | W
China property developers' cash squeeze drags down elevator-maker Kone | yahoo
Europe
Eurozone Inflation Rises to Fresh Record, Against Expectations | W
Geopolitics & trade
U.S. Orders 3,000 Troops to Bolster European Allies in Russia-Ukraine Crisis | W
FBI chief says threat from China ‘more brazen’ than ever before | C
U.S. Moving—Some Say Too Slowly—to Address TikTok Security Risk | W
Industries & companies
Energy: Can Germany Show Us How to Leave Coal Behind? | The New Yorker
Restaurants: The restaurant business will probably never recover from Covid | NN
Tech: Meta Reality Labs reports $10 billion loss | C
Climate
The Texas Electric Grid Failure Was a Warm-up | Texas Monthly
Extreme heat driven by climate change is new normal for oceans | C
EXCLUSIVE IMF staff cut critical coal language from Japan statement -document | R
Biden urges against USPS plan to spend billions on gas vehicles | C
Virus
Denmark ends COVID restrictions — when will the US open society? | P
Airlines ask Biden to drop Covid testing for vaccinated travelers before U.S.-bound flights | C
Crosby, Stills & Nash want their music removed from Spotify Over Covid Misinformation | C
Beyond markets
NFT Art Exists in the Digital World. Collectors Want to Put Them on the Wall. | W
Olympian Eileen Gu competing for China is ruffling US skiers | P
February 02 (Wednesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 31.
Markets
U.S. Stocks Waver Ahead of Earnings | W
Stocks gain for a third day as the market's comeback from the depths of the January sell-off continues | C
After volatile January, choppy start of new month for world stocks | R
Companies raise over half a trillion dollars of debt in record Jan - Refinitiv | R
Central banks
Fed's Bullard sees rate hikes now, then time to assess | R
Fed Nominee Has Studied How Policies Affect Economic Opportunities | W
Opinion | How the Fed Is and Isn’t ‘the Supreme Court of Finance’ | N
US I
After a huge year for growth, the U.S. economy is about to slam into a wall | C
U.S. Job Openings, Quits Remained Elevated at End of Last Year | W
There were 4.6 million more jobs than unemployed workers in December | C
Paychex CEO says rising inflation, waning Covid money help small business owners fill open jobs | C
Remote work, innovation, and the Great Resignation - Vox
US II
Omicron restrains U.S. manufacturing; supply bottlenecks slowly easing | R’
Coffee Prices Climb, Pushed Up by Bad Weather and Supply-Chain Woes | W
The State of Real Estate | MarketMinder | Fisher Investments
Consumer Pessimism Grows as Inflation Accelerates | W
2022 midterms: Republican super PACs outraise Democratic rivals | C
China
China population: county sparks uproar by telling ‘leftover’ women to marry unemployed men | SCMP
Geopolitics & trade
Putin accuses U.S. of trying to lure Russia into war | R
Putin Says West Failed to Address His Demands in Ukraine Standoff | W
Russia Confronts Ukraine With Upgraded Military Rebuilt After Soviet Collapse | W
U.S. trade official says China failed to meet 'Phase 1' commitments | R
Industries & companies
Autos: Ford reportedly plans to increase EV spending by up to $20 billion | C
Corporate finance
Microsoft-Activision Deal to Be Reviewed by Federal Trade Commission | W
AT&T to spin off WarnerMedia in $43 billion Discovery media merger, cuts dividend | C
Sony to Buy Videogame Maker Bungie in $3.6 Billion Deal | W
Technology
What if quantum computing faces a winter? | slate.com
Virus
U.S. Covid fatalities reach highest level in a year as omicron cases subside | C
U.S. Covid-19 Hospitalizations Extend Their Fall While Deaths Keep Rising | W
Ivermectin shows ‘antiviral effect’ against COVID, Japanese company says | R
Covid and the ‘Hygiene Hypothesis’ | W
February 01 (Tuesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 31.
Markets
Stocks Close Higher on Final Day of Tumultuous Month | W
Global stocks trade higher at the end of a volatile month | R
Oil edges higher on tight supply and post-pandemic recovery | R
Central banks
Fed sees March rate hike, but no roadmap after that | R
Go Gradual: Fed Officials Stress Not Jamming Brakes on Economy as Hikes Loom | B
Fed's Barkin says businesses would welcome higher interest rates | C
Fed Nominee Has Focused His Research on Monetary Policy and Poverty | W
US I
Inflation and Deficits Don’t Dim the Appeal of U.S. Bonds | N
Top Mozzarella Maker Leprino Sees Shipping Woes Persisting All of 2022 | B
Teachers Are Quitting, and Companies Are Hot to Hire Them | W
Obamacare plans are more affordable, helping the Great Resignation | C
US II
Kyrsten Sinema raised over $1.5 million as she fought key Biden goals | C
Joe Manchin campaign gets big donations from corporations, executives | C
China
China’s Communist Party Quietly Inserts Itself Into Everyday Life | W
China space plans: Crewed moon mission, tourism, Jupiter exploration | C
Europe
Europe’s Nuclear Power Plants Are Disappearing Just as Energy Crisis Hits Hard | B
Geopolitics & trade
U.S., UK threaten sanctions for Moscow elite if Russia invades Ukraine | R
China and the U.S. Must Face Harsh Truths About Each Other | B
Ukraine Russia news: U.N. Security Council meets | C
Industries & companies
Aerospace: Boeing wins Qatar Airways order for 737 Max planes, new 777X freighters | C
Consumer: Amazon's 'wellness huddles' are freaking me out | msnbc.com
Retail: Best Buy could cash in from rise of the metaverse, analyst says | C
Corporate finance
Citrix Systems to Go Private in Deal Valued at $16.5 Billion, Including Debt | W
Sony to Buy Videogame Maker Bungie in $3.6 Billion Deal | W
New York Times Buys Wordle | W
Virus
Omicron: Vaccinated are less likely to spread BA.2, study finds | C
Operation Warp Speed Slowly Gets Its Due | W
One Million Deaths: The Hole the Pandemic Made in U.S. Society | W
January 31 (Monday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 31.
Markets
Markets have fallen because the era of free money is coming to an end | E
Stock Market Jitters Don’t Endanger Economy Yet | W
Move Over, Meme Stocks: Retail Investors Go Back to the Blue Chips | W
Big swings in the market are more normal than investors might expect | C
Central banks
Housing Market Is the Fed’s Frankenstein, and It Won’t Be Easily Tamed | BR
Fed's Bostic tells the FT the central bank could hike rates by a half-point if needed | C
US
Democrats Put Build Back Better in Joe Manchin’s Court | W
Inflation at its worst: Some ticket prices are up as much as 100% | C
America’s Most Popular Housing Markets Have an Inflation Problem | BR
New York Eviction Ban Ends, but Tenants Find Ways to Stay in Homes | W
China
China’s civil servants ordered to tighten their belts | SCMP
China’s ‘Common Prosperity’ to Squeeze Cash-Strapped Local Governments | W
China’s one-child policy has led to a disastrous baby bust | P
China is determined to make the Winter Olympics go smoothly | E
Geopolitics & trade
What are Vladimir Putin’s military intentions in Ukraine? | E
Russia’s roulette: The stakes in Ukraine | E
U.S., EU Sanctions on Russia Could Ensnarl Western Oil Companies | W
How will Europe cope if Russia cuts off its gas? | E
What China thinks of possible war in Ukraine | E
North Korea caps month of tests with longest-range missile since 2017 | C
Industries & companies
Airlines: The showdown over airlines and 5G is part of a much bigger spectrum problem. | slate.com
Airlines: Southwest Airlines, Alaska Air and Boeing Stock Could Take Flight in 2022 | BR
Financials: Goldman Sachs Stock Is a Buy—Even After a Disappointing Quarter | BR
Pharma: Drugmakers Raised Prices by 6.6% on Average Early This Year | W
Retail: Bed Bath & Beyond Decluttered Its Stores and Ended Up Frustrating Shoppers | W
Tech: For Chip Industry, Global Supply Crunch Pushes Next Target to $1 Trillion | W
Tech: Will China dominate the world of semiconductors? | E
Virus
U.S. Covid-19 Hospitalizations Retreat, but Deaths Keep Rising | W
Biden Had Strategy to Beat Covid-19. Then Variants Arrived. | W
Omicron Pushes Health Authorities Toward Learning to Live With Covid-19 | W
A Covid Origin Conspiracy?
Beyond markets
Confusion reigns following conflicting reports that legendary Super Bowl champion Tom Brady is retiring | C
Musk Calls Biden ‘A Damp Sock Puppet’ As Tesla Shares Tank | FO
Experts Are Ringing Alarms About Elon Musk’s Brain Implants | Daily Beast
Why hasn't Fauci been fired and put under FBI investigation yet? | P
January 29 (Saturday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 24.
Markets
Dow gains more than 500 points in best day of 2022 to wrap up wild week | C
S&P 500 Rises, Snaps Three-Week Losing Streak | W
Strong U.S. earnings lift global equities amid inflation, geopolitical concerns | R
Home remodeling could finally cool, bringing these stocks back to earth | C
China’s Property Crisis Has Investors in Green Bonds Seeing Red | W
Central banks
Chamber of Commerce Raises Concerns Over Fed Nominee Raskin | W
Bank of America Fed Outlook Gets More Hawkish Amid Inflation Worries | W
Key Fed inflation gauge rises 4.9% from a year ago, fastest gain since 1983 | C
China
IMF Says China’s Economic Imbalances Have Worsened | W
US
Inflation? Omicron? Americans shopped right through it all | NN
Weaker U.S consumer spending, rising inflation pose dilemma for Fed | R
U.S. Wages, Benefits Rose at Two-Decade High as Inflation Picked Up | W
How to heal our national exhaustion | Vox
Geopolitics & trade
Russian buildup at Ukraine border includes blood for wounded, U.S. officials say | R
Ukraine’s Growing Sense of National Identity Puts It in Putin’s Crosshairs | W
Industries & companies
Airlines: The Best and Worst U.S. Airlines of 2021 | W
Energy: Chevron Rakes in $15.6 Billion in Annual Profits as Oil Prices Climb | W
Tech: Apple Takes Smartphone Lead in China, Helping Drive Record Profit | W
Virus
The new BA.2 omicron subvariant is already circulating in half of U.S. states | C
Embattled CDC Rethinks Pandemic Response After Criticism of Guidelines | W
January 28 (Friday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 24.
Markets
Fiscal stimulus powers U.S. economy in 2021 to its best performance since 1984 | R
Central banks
How China, the Fed Shape 2022's Global Economy by Moving in Opposite Directions | B
Fed signals intent to join the great central bank stimulus exit | R
US I
GDP grew at a 6.9% pace to close out 2021, stronger than expected despite omicron spread | C
U.S. Economy Grows as Fourth-Quarter GDP Shows Strongest Year in Decades | W
Rising mortgage rates, tight supply, high prices frustrate house hunters | C
What Should the White House Do to Combat Inflation? | Manhattan Institute
Want to start a business? You’re not alone. | Vox
US II
Justice Breyer’s Retirement Could Reshape Supreme Court’s Liberal Wing | W
Supreme Court: Biden vows black woman to replace Stephen Breyer | C
Geopolitics & trade I
Russia Sends Medical Units to Ukrainian Front | W
China Calls for Calm From U.S. on Ukraine | W
As Russia Threatens Ukraine, Europe Scrambles to Secure Gas Supply | W
Biden's war on American energy made us dependent, again | FO
Geopolitics & trade II
Exclusive: White House mulls extension of Trump-era solar tariffs, with tweaks | R
Iranian Hackers Behind Proud Boys Ruse Pose Wider Threat, FBI Says | B
Vast Troves of Classified Info Undermine National Security, Spy Chief Says | W
Jeep Owner’s Chinese Partner Says It Was Caught Unaware by Deal Announcement | W
Industries & companies
Autos: Elon Musk Says Tesla Will Prioritize Deliveries Over New Vehicles in 2022 | W
Autos: Musk: Tesla robot top priority for new product development this year | C
Media: What is a Netflix subscription worth? Wall Street may have new answer | C
Restaurants: McDonald’s Says Its Costs to Rise Further in 2022 | W
Crypto
It’s Hard to Tell When the Crypto Bubble Will Burst, or If There Is One | N
Climate
Americans’ Methane-Fueled Gas Stoves Are as Bad for Climate as 500,000 Cars | B
Virus
Covid-19 Curbs Eased Further in Europe as New Version of Omicron Spreads in Places | W
Blood Shortage 2022: US Hospitals Plead for Donations After Dropping in Pandemic | B
January 27 (Thursday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 24.
Markets I
Dow falls about 130 points in another wild day, Fed signals rate hikes | C
Stocks Turn Lower After Fed Announcement on Interest Rates | W
Analysis: Fed tightening a sign to get the 'heck out' of U.S. stocks | R
Markets II
U.S bonds: 10-year Treasury yield rises above 1.85% after Fed signals a rate hike in March and more after that | C
Oil breaks $90/bbl for the first time since 2014 on Russia tensions | R
Global oil benchmark tops $90 for the first time since 2014 | C
Analysis: Will the games stop? SEC mulls crackdown on trading apps | R
Central banks
Fed decision January 2022: Federal Reserve points to interest rate hike coming in March | C
Fed flags rate hike 'soon,' plans for significant balance sheet reduction | R
Federal Reserve Holds Rates Steady; Signals Liftoff 'Soon' | B
Fed's Powell Says Labor Market Consistent With Maximum Employment | B
Fed Board Unable to Disclose Details on Kaplan Trades, Powell Says | B
US
Welcome to the end of democracy | The Spectator
Supreme Court Justice Stephen Breyer to retire, giving Biden nomination chance | C
Democratic donors plot primary challenge against Kyrsten Sinema | C
President Biden can't blame inflation on price-fixing | P
China
Property Crisis Means Chinese Cities Sell Land to Themselves | yahoo.com
Emerging
Economic Indicators Flash Early Warning Sign for India’s Rebound | B
Geopolitics & trade
Russia Ukraine: US calls for diplomacy as Putin adds troops to border | C
Russia’s Attempts to Sanction-Proof Its Economy Have Exposed a Weak Spot | W
Industries & companies
Financials: Where Are Banks Finding Borrowers? On the Car Lot | W
Homebuilders: Homebuilder Stocks Sink as Powell Alludes to Several Rate Hikes | B
Real estate: The Struggle Is Real for Zillow | W
Tech & crypto
Why Is Silicon Valley Still Waiting for the Next Big Thing? | N
Cryptocurrency Is a Giant Ponzi Scheme
Corporate finance
UBS Buys Wealthfront for $1.4 Billion to Reach Rich Young Americans | W
Virus
CDC says 'milder doesn't mean mild' amid Covid hospitalization spike | C
Beyond markets
U.S. House speaker Pelosi's stock trades attract growing following online | R
January 26 (Wednesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 24.
Markets
Dow closes lower, but well off session lows in another massive comeback | C
Stock Markets End Lower as Turbulence Continues | W
Caution rules U.S. stock market ahead of Fed policy decision | R
Central banks
The Fed is likely to signal a March interest rate hike and that further policy tightening is coming | C
Global
IMF cuts growth forecasts for U.S., China and world as Omicron spreads | R
US
Chip Shortage Leaves U.S. Companies Dangerously Low on Semiconductors, Report Says | W
Geopolitics & trade
Biden says a Russian invasion of Ukraine ‘would change the world’ | W
U.S. Plans Sanctions, Export Controls Against Russia if It Invades Ukraine | W
Industries & companies
Autos: GM investing $6.6 billion in bid to dethrone Tesla in EV sales by 2025 | C
Pharma: Drugmaker Teva fueled opioid addiction in New York, jury finds | R
Real Estate: Covid-19 Fuels Best-Ever Commercial Real-Estate Sales | W
Real Estate: Real estate billionaire Sam Zell says office space will recover ‘much faster’ than retail | C
Climate
McKinsey calculates the staggering capital spending required to reach net-zero by 2050 | C
Biden Nominee For Fed Vice Chair Will Soon Have Us Freezing In The Dark.
Virus
COVID is less severe with Omicron than Delta, U.S. study suggests | R
Omicron Is Spreading. Resistance Is Futile | W
Covid-19 Hospitalizations Continue to Fall in U.S. | W
Covid-19 Deaths in the U.S. Top 2,100 a Day, Highest in Nearly a Year | W
Biden administration withdraws Covid vaccine mandate for businesses after losing Supreme Court case | W
January 25 (Tuesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 24.
Markets
Stocks mount stunning comeback on Monday with Dow closing in the green after earlier 1,000-point loss | C
Stocks Rocket Back to Finish Higher After Deep Slump | W
Nasdaq Days Like This Once Were Common. During the Dot-Com Crash | B
ESG Investing Can Do Good or Do Well, but Don’t Expect Both | W
Oil falls 2% as Fed rate hike talk spooks risk markets | R
Global
Omicron Slows the Global Economy, Hitting the U.S. Particularly Hard | W
Central banks
The stock market slide is unlikely to budge the Fed from tightening | C
Inflation is soaring. Should the Fed unleash 'shock and awe'? | NN
Inflation Poses Risks of Faster, Less Predictable Fed Rate Increases | W
Fed Steps Up Deliberations on Shrinking Its $9 Trillion Asset Portfolio | W
Fed Should Focus on Balance Sheet First, Guggenheim’s Scott Minerd Says | B
Jim Chanos says the notion that the Fed will always bail out the stock market is dangerous | C
US
Why shoplifting is soaring in the US — and will get worse | P
Opinion | President Biden’s Economy Is Failing the Big Mac Test | N
With Paperwork Locked Underground, Thousands of U.S. Citizenship Applicants Wait and Wait | W
Geopolitics & trade I
As Putin Lines Ukraine Border with Russian Troops, Is There a China Factor?
How Events in the U.S., Germany and China Embolden Putin | W
On the Brink of War With Russia, Ukrainians Are Resigned and Prepared | W
Russia-Ukraine Tension: EU to Talk With Blinken Over Border Escalation | B
Geopolitics & trade II
How China spies on the West | The Spectator
NATO to Send Ships, Jet Fighters to Eastern Europe Amid Standoff With Russia | W
Deterrence Message to Moscow | W
Industries & companies
Autos: Ford Shuts Off Orders for New $20,000 Maverick Pickup | W
Media: Netflix shares fall to lowest since April 2020 on subscriber concern | C
Pharma: FDA halts use of antibody drugs that don't work against Covid omicron | C
Retail: Kohl's shares surge as takeover offers emerge, suitors include Sycamore | C
Tech: Google Deceived Users About Location Tracking, States Allege | W
Corporate finance
Amazon, Microsoft, Alphabet set more deals in 2021 than last 10 years | C
Technology & crypto
Meta Unveils New AI Supercomputer | W
Ex-Goldman CEO Lloyd Blankfein says 'crypto is happening' despite plunge in digital assets | C
We’ll Know Crypto Is For Real When Its Coins Start Collapsing | FO
Virus
Omicron Leaves Nurses Stretched Thin and Seeking Help From Burnout | W
January 24 (Monday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 18.
Markets
Tech Rout Fueled by Bond-Market Turn | W
80/20 portfolio strategy could be new 60/40 in this rates environment | C
Peloton plunge, Netflix miss send Nasdaq to worst week since March 2020 | C
It’s Time to Bargain Hunt. 27 Picks to Beat the Stock Market From Barron’s Roundtable Experts. | BR
Morgan Stanley’s Slimmon Warns Against Buying Growth-Stock Dip | B
Morgan Stanley Strategist Who Called China Rout Still Won’t Buy | B
Central banks
The Fed Is Ignoring the Money Supply and Letting Inflation Rip | BR
Goldman Sees Risk Fed Will Tighten at Every Meeting From March | B
Global
Just how gummed up are supply chains? | E
US I
Staffing shortages in America are a glimpse into its future | E
Winning the 'Great Transition' | TheHill
The Underside of the ‘Great Resignation’ | WSJ
Omicron Wave Drives Surge of Workers Calling In Sick, Working Through Illness | W
From Plants to Store Shelves, U.S. Food Supply Is Under Pressure | W
US II
Arizona Democrats censure Sen. Kyrsten Sinema for blocking voting rights bill | C
States Are Swimming in Cash Thanks to Booming Tax Revenue and Federal Aid | W
Tax Season 2022 Is Here, and Pandemic-Related Complications Remain | W
Europe
The parable of Boris Johnson | E
China
As China’s economy slows, policymakers seek to revive growth | E
The rising cost of China’s property and pandemic curbs | E
Geopolitics & trade
Momentum is building for war in Ukraine | E
UK warns Russia will face severe sanctions if it installs Ukraine 'puppet regime' | C
Germany’s Reliance on Russian Gas Limits Europe’s Options in Ukraine Crisis | W
Putin needs 'General Frost' on his side to win in Ukraine | Engelsberg Ideas
Democrats Push to Revive $250 Billion Tech Investment Bill to Counter China | W
Industries & companies
Autos: The Simplest Way to Sell More Electric Cars in America | The Atlantic
Grocery stores: Employee-Owned Publix Offers a Lesson for Other Supermarket Chains | BR
REITs: After 2021’s REIT Rally, Investors Need to Be Picky | BR
Technology
How A.I. Conquered Poker | N
The Nanotechnology Revolution Is Here—We Just Haven’t Noticed Yet | W
Climate
Wildfire along California's Big Sur forces evacuations | C
Virus
US to close borders to unvaccinated Canadian, Mexican truckers on Saturday | FreightWaves
There will never be a post-Covid world: Michael Dell | C
Saudis Reopen Elementary Schools After One of the World’s Longest Covid Shutdowns | W
Study: Covid vaccines don't affect fertility, but getting Covid might | C
Corporate finance
Microsoft-Activision Merger: Which Stock to Buy Now | BR
Microsoft is buying Activision-Blizzard, makers of Call of Duty and Candy Crush | Vox
Amazon, Microsoft, Alphabet set more deals in 2021 than last 10 years | C
Kohl’s Said to Get $9 Billion Bid Backed by Starboard Value | B
January 22 (Saturday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 18.
Markets
Stock Markets Off to Worst Start Since 2016 as Fed Fights Inflation | N
Peloton plunge, Netflix miss send Nasdaq to worst week since March 2020 | C
Bond yields tumble as Netflix fuels stock market sell-off | R
China’s Yield Advantage Over U.S. Bonds Narrows | W
The SPAC Ship Is Sinking. Investors Want Their Money Back. | W
Central banks
The Fed Might End Up Needing to Actually Sell Some of Its Bonds | B
US I
You Quit. I Quit. We All Quit. And It’s Not a Coincidence. | N
Your Raise Might Be Stock Investors’ Pay Cut | W
Inflation Hits the Fast Food Counter | N
Car prices are likely to ease in 2022, but they won't go back to where they were | NN
US II
Yellen rebrands Biden economic agenda as 'modern supply-side economics' | R
Democrats Start to Sketch Out Revived Build Back Better Package | W
Geopolitics & trade
Europe kept waiting as Intel commits to new U.S. chip factories | R
U.S., Russia Agree to Keep Negotiating to Defuse Ukraine Crisis | W
Industries & companies
Autos: Cadillac Escalade V: GM announces new high-performance SUV | C
Wireless: How the U.S. Messed Up Its New 5G Rollout: ‘It Wasn’t Our Finest Hour’ | W
Corporate finance
Intel to Invest at Least $20 Billion in Ohio Chip-Making Facility | W
Virus
Third Dose of Pfizer, Moderna Covid-19 Vaccines Offers Strong Protection Against Omicron | W
GlaxoSmithKline Racing to Provide Only Effective Covid-19 Antibody Treatment | W
Judge Blocks Biden Covid-19 Vaccine Mandate for Federal Workers | W
Omicron: Two years since Covid was first confirmed in U.S., the pandemic is worse than anyone imagined | C
January 21 (Friday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 18.
Markets
Dow falls 300 points, gives up earlier gains as Wall Street's struggles persist | C
Stocks Fall After Giving Up Early Gains | W
Chinese Stocks Rally in Hong Kong After Beijing Cuts Key Rates | W
Buy the Unloved: 2022 Edition | Morningstar
Lumber Rebound Awakens Timber Market From Long Slumber | W
Central banks
Fed releases long-awaited study on a digital dollar but doesn't take a position yet on creating one | C
Federal Reserve Takes Key Step Forward in Deciding on Digital-Coin Issuance | B
US I
‘Fight Like Hell’: Democrats Draw Lines as Biden Agenda Shrinks | B
Biden’s First Year: The Goals He Hit and the Ones He Missed | W
Senators Seek Changes to Electoral Count Act to Firm Up Presidential Elections | W
US II
U.S. Existing-Home Sales Reached a 15-Year High of 6.1 Million Last Year | W
Housing Market in U.S: Inventory Vanishing and Bidding Wars Exploding | B
U.S. Jobless Claims Rose to 286,000 Last Week | W
China
China Cuts Benchmark Rates to Bolster Flagging Economy | W
Geopolitics & trade
Putin Loves to Roll the Dice. Ukraine Is His Biggest Gamble Yet. | W
West stresses unified stance on Ukraine after Biden's 'minor incursion' remark | R
U.S. Allows Baltic NATO Members to Send Arms to Ukraine | W
Industries & companies
Airlines: FAA approves more of U.S. fleet for low visibility landings after 5G deployment, some flights canceled | C
Financials: Travelers Shares Surge on New Business and Rate Increases | W
Financials: TIAA Offers Annuity Product for Corporate 401(k) Retirement Plans | W
Media: Netflix Reports Jump in Subscribers, Helped by ‘Don’t Look Up’ and ‘Cobra Kai’ | W
Corporate finance
Record IPO rush of 2021 led to historically dismal returns for investors with no relief in sight | C
Peloton's market value drops by $2.5 billion as shares close below IPO price | C
Technology
Senate Panel Approves Antitrust Bill Restricting Big Tech Platforms | W
Major Breakthrough As Quantum Computing in Silicon Hits 99% Accuracy
What’s All the Hype About the Metaverse? | N
Microsoft Shows Meta Won’t Own the ‘Verse | W
Virus
Some U.S. Hospitals See Covid-19 Patient Counts Decline as Omicron Retreats | W
France to loosen COVID curbs in February, allowing popcorn in cinemas again | R
Climate
Larry Fink: Sustainable Investing Is About Profits, Not Taking a Stand | Morningstar
January 20 (Thursday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 18.
Markets
Nasdaq closes in correction territory on Wednesday | C
Opinion: Stocks still look attractive even with the Fed tightening | MW
Bitcoin Sags in 2022 Under Weight of Stock Selloff and Fed Policy | W
Global credit & inflation
German Benchmark Bond Yield Briefly Turns Positive for First Time Since 2019 | W
U.K. Inflation Hits 30-Year High, Prompting Expectations of Rise in Interest Rates | W
Canada Inflation Reaches 30-Year High, Placing Spotlight on Central Bank | W
Central banks
Fed Will Likely Hike Eight Times to Curb Inflation, Marathon Asset CEO Says | B
US
Senate will vote on voting rights bills and filibuster rules change | C
SALT Fight Threatens Biden Bill as Democrats Demand Higher Cap | B
Biden defends his first year record as agenda stalls: 'I didn't overpromise' | C
Investors Aren’t Sure About Home Builders’ Foundations | W
Geopolitics & trade
Blinken tells Ukraine he will keep working to avert Russian attack | R
Industries & companies
Airlines: Why 5G is causing flight cancellations | Vox
Autos: For Maximum EV Efficiency, Stick to 25 Miles an Hour, Ignore Angry Drivers | W
Consumer: Procter & Gamble plans more price hikes for Tide and other products | C
Consumer: Peloton insiders sold nearly $500 million in stock before its big drop | C
Wireless: 5G launch Wednesday caps years of hype, investment | C
Virus
Omicron in China: New Variant Weakens Xi Jinping's Covid Policies | B
U.S. to distribute 400 million free N95 masks at CVS, Walgreens in COVID fight | R
Starbucks won't require vaccination or weekly testing after court ruling | C
To Help Battle Covid-19, a Hospital Borrows Tactics From Combat Veterans | W
Covid-19, Endemic or Not, Will Still Make Us Poorer | W
Professor Ehud Qimron: “Ministry of Health, it’s time to admit failure” | Swiss Policy Research
Technology
With U.S. labor scarce, logistics firms turn to remote forklifts | R
Corporate finance
Microsoft’s Activision Blizzard Deal to Power Its Netflix-of-Gaming Aspirations | W
January 19 (Wednesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 18.
Markets
Dow drops 540 points, Nasdaq falls 2.6% as 10-year yield rises to 2-year high | C
Stocks End Lower as Bond Yields Hit Two-Year High | W
Rising interest rates could keep a choke hold on tech and growth stocks | C
US I
U.S. home builder sentiment dips; New York state factory activity plummets | R
Mortgage rates jump again, causing headaches for homebuyers | C
NYC Property Values Projected to Rise 8.2% as Homebuyers Return | B
U.S. Democrats set voting rights showdown with no clear path to victory | R
Republicans are much more worried about inflation than Democrats | NN
US II
U.S. companies are expecting to pay an average 3.4% raise to workers in 2022 | C
Goldman CEO says he sees 'real wage inflation everywhere' after 33% jump in pay expenses | C
Texas, Arizona Have Recovered All the Jobs Lost When Covid-19 Hit | W
The Left’s big government plans are job killers | Washington Examiner
China
In China, the Economic Buzzword for 2022 Is Stability | W
Geopolitics & trade
Germany signals it could halt gas pipeline if Russia invades Ukraine | R
Chinese Investment in U.S. Plane Maker Draws FBI, National-Security Reviews | W
Industries & companies
Airlines: Foreign airlines cancel some U.S. flights despite 5G deal | C
Airlines: AT&T delays 5G rollout near some airports after airlines warned of cancellations | C
Fitness: Peloton hires McKinsey to review cost structure as equipment sales slow | C
Shipping: Supply Chain Crisis Helped Shipping Companies Reap $150 Billion in 2021 | B
Virus
Pfizer’s New Covid-19 Pill Works Against Omicron in Lab | W
China’s Zero-Covid Policies Cause a Traffic Jam in Vietnam as Farmers Suffer | W
Fuzzy Hamsters Are Hong Kong’s Newest Enemy in Its Covid-Zero Campaign | W
Climate
As coal use surges, America finds it's hard to unplug from carbon | TheHill
Texas Power Grid Braces for Freeze That Imperils Fuel Supply | B
Exxon Pledges to Reduce Carbon Emissions From Operations to ‘Net Zero’ | W
BlackRock CEO Larry Fink Infuriates Republicans and Climate Activists Alike | B
Corporate finance
Microsoft to gobble up Activision in $69 billion metaverse bet | R
Activision mulled outbidding Take-Two for Zynga before Microsoft deal | C
January 18 (Tuesday)
Markets
BlackRock now manages more than $10 trillion in assets | NN
Chile suspends lithium mining contract auction | Financial Review
Central banks
Biden Plays Capture the Federal Reserve | W
US
U.S. Political Party Preferences Shifted Greatly During 2021 | Gallup
Democrats Likely to Take Control of New York Redistricting, Gain Congressional Seats | W
On the Matter of Inflation, Elizabeth Warren Blames...Kroger's | RCM
Iowa’s Child-Care Problems Show Scale of Washington’s Challenge | W
The Pain of Online School Remains, Even When Kids Are in Classrooms | W
China
China tops forecasts with 8.1% growth in 2021 but headwinds loom | R
China Seeks to Cushion Blow of Economic Pain as Momentum Slows | W
China’s Xi Calls on Nations to Reduce Global Supply Chain Risks | B
Japan
Bank of Japan to flag rising price pressure, maintain ultra-easy policy | R
Geopolitics & trade
Davos: China's Xi says countries must abandon Cold War mentality | C
There’s No Way Vladimir Putin Could Freeze Europe, and No Way the U.S. Could Freeze Putin | FO
Industries & companies
Airlines: Major U.S. airline CEOs warn 5G could ground some planes, wreak havoc | C
Technology
All These Flying Taxi Companies Will Need Ground Infrastructure to Land Aircraft | B
Virus
Omicron wave shows early signs of easing in states hit early | C
Herd Immunity Is Over—Long Live Superimmunity | W
Omicron: Preliminary study in Israel shows fourth Covid vaccine shots are less effective | C
Fauci: It's an 'open question' whether omicron spells Covid endgame | C
Chinese cities on high COVID-19 alert as Lunar New Year travel season starts; Omicron spreads | R
Climate
What is green hydrogen vs. blue hydrogen and why it matters | C
January 17 (Monday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 10.
Markets
How Will the Stock Market Do in 2022? Expect a Tough Year but Lots of Opportunities | BR
Russia-Ukraine Conflict Could Disrupt the Prices of These Commodities. What to Know. | BR
How the U.S. fell way behind in lithium, 'white gold' for EVs | C
Central banks
Fed Pick Sarah Bloom Raskin Faces Some Heat in Confirmation | W
The Fed is about to see a lot of new faces. What it means for banks, the economy and markets | C
US
Omicron, Inflation Drive Down U.S. Growth Outlook | W
'Upside down again': Omicron surge roils U.S. small businesses | R
Democrats Explore Changes for Child Tax Credit to Win Manchin’s Favor | W
China
Xi Jinping’s job is safe but China’s leadership is being shaken up | E
Industries & companies
Airlines: Airlines cancel over 2,700 U.S. flights as winter storm hits U.S. East Coast | R
Energy: Shell’s Buybacks and Low-Carbon Energy Shift Make This a Buying Opportunity | BR
Retail: Walmart is quietly preparing to enter the metaverse | C
Social media: TikTok isn’t silly. It’s serious | E
Social media: ‘Baby Shark’ Has 10 Billion Views. For Parents, That Is 10 Billion Too Many. | W
Tech: Inside the metaverse, jobs and infrastructure projects are for real | C
Virus
Omicron Surge Pressures U.S. Hospitals | W
America resorts to remote learning, against pupils’ interests | E
Citigroup Sticks With Its Covid-19 Vaccine Mandate, While GE Drops Its Rules | W
January 15 (Saturday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 10.
Central banks
Biden Moves to Remake the Federal Reserve | W
Biden Taps Economists Lisa Cook, Philip Jefferson for Fed Seats | W
US
U.S. Retail Spending, Manufacturing Drop as Omicron and Inflation Surge | W
U.S. consumer sentiment sours in early January to second lowest level in decade | R
U.S. grocery shortages deepen as pandemic dries supplies | R
Inflation: Jamie Dimon says CEOs `shouldn't be crybabies about it' | C
Geopolitics & trade
White House Says Russia Is Planning ‘False Flag’ Operation as Pretext for Invading Ukraine | W
No lights, no heat, no money - that's life in Ukraine during cyber warfare | R
Russia Arrests Hackers Tied to Major U.S. Ransomware Attacks, Including Colonial Pipeline Disruption | W
N.Korea tests railway-borne missile in latest launch amid rising tension with U.S. | R
Industries & companies
Communication services: Google Misled Publishers and Advertisers, Unredacted Lawsuit Alleges | W
Financials: Pandemic Profits Begin to Ebb at America’s Biggest Banks | W
Wireless: The 3G Shutdown Is Coming—Here’s How That Affects You | W
Corporate finance
Bill Ford is doubling down on Ford shares and amassing more control of the company | C
Virus I
New York Covid numbers are finally trending down, Gov. Hochul says | C
Vaccine Makers Pursue Omicron-Targeted Shots That Health Officials Say Might Not Be Needed | W
As Omicron fuels surge, U.S. students stage walkouts to protest in-person classes | R
CDC updates mask guidance, says N95s offer 'highest protection' | C
Virus II
Americans Can Order Free Rapid Covid-19 Tests from Website on Jan. 19 | W
Stretched Hospitals, Nursing Homes Fear Losing More Staff Over Vaccine Mandate | W
For Remote Workers, the Sick Day Is Over | W
Google tells anyone coming into the office to take weekly Covid tests | C
January 14 (Friday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 10.
Markets
Tech Stocks Drag Down S&P 500, Nasdaq Composite | W
Central banks
Biden to nominate Sarah Bloom Raskin as vice chair for supervision at Fed | C
Central banks start turning off the cash taps | R
Fed officials nod to March rate hike as inflation drumbeat grows louder | R
Fed's Harker calls for 'action on inflation,' sees 3 or 4 rate hikes | C
Column: Like Tortoise vs Hare, ECB may 'normalize' before Fed :Mike Dolan | R
US
Profits for S&P 500 companies rose 22% in the fourth quarter and nearly 50% in 2021, estimates show | C
Producer-Price Increases Slowed From Record Pace in December | W
Mortgage Rates Jump to Highest Level Since March 2020 | W
Biden voting rights push scotched by Democrats Sinema, Manchin | R
Geopolitics & trade
Russia says Ukraine talks hit 'dead end', Poland warns of risk of war | R
Corporate finance
What’s the true cost of Amazon’s low prices? The FTC and Congress have antitrust concerns. | Vox
Virus
Delta Reports Loss Amid Omicron Wave but Expects to Make Recovery | W
India Covid: Third wave is expected to slow near-term economic growth | C
Supreme Court blocks Biden Covid vaccine mandate for businesses, allows health-care worker rule | C
Beyond markets
These TikTok Stars Made More Money Than Many of America’s Top CEOs | W
January 13 (Thursday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 10.
Markets
Stocks Close Higher as Inflation Picks Up | W
Natural gas surges 14% as cold snap ahead is expected to boost demand | C
Central banks
Fed's Bullard: Four Interest Rate Rises in 2022 Now Appear Likely | W
Fed's Brainard: Controlling inflation is 'most important task' | R
Fed’s Mester Says Economy on Track for a March Rate Rise | W
Fed Says U.S. Economic Optimism High, Cools in Some Areas | B
Analysis: A people's Fed? It's starting to at least look that way | R
US
U.S. consumer prices post biggest rise in nearly 40 years; inflation close to peaking | R
U.S. Inflation Hit 7% in December, Fastest Pace Since 1982 | W
Why 7% Inflation Today Is Far Different Than in 1982 | W
Messy 2021 jobs reports, unreliable labor data take toll on Joe Biden | C
Baby Formula Is Hard to Find. Brands and Stores Are Divided Over Why. | W
China
China’s True Unemployment Pain Masked by Official Numbers | B
Omicron Puts China’s Zero-Covid Strategy to Its Toughest Test | W
China’s Startups Attract Record Funding Despite Tech Clampdown | W
Virus
Omicron Is Dominant U.S. Variant, Hospitals Face Dark Days as Covid Cases Soar | B
Covid: Omicron-tied hospital stays shorter in big California system | C
Covid news: Omicron disrupts essential services as workers call out | C
Schools See Big Drop in Attendance as Students Stay Away, Citing Covid-19 | W
Chicago teachers accept Covid deal, keeping kids in school | C
Boris Johnson Apologizes for Party at Downing Street During U.K. Lockdown | W
Blackstone Tells U.S. Staff to Get Boosters or Get Out of Office | B
Robinhood Tells Employees They Can Work From Home Permanently | W
Technology
How Health and Fitness Trackers Are About to Get a Lot More Granular | W
Beyond market
Vast Cosmic Bubble Around the Sun Identified as Source of Baby Stars | W
January 12 (Wednesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 10.
Markets
U.S. Stocks Finish Higher as Tech Shares Climb | W
Bank Stocks Set for Big Gains Ahead of Potential Fed Rate Increases | W
Central banks
Fed Chair Powell says rate hikes, tighter policy will be needed to control inflation | C
Fed’s Powell Says Economy No Longer Needs Aggressive Stimulus | W
After Months of Ethics Controversy, Fed’s New Trading Rules Will Be Implemented Soon, Powell Says | W
Global
Omicron, Supply-Chain Troubles to Slow Growth, World Bank Says | W
Empty grocery shelves return as sick employees, supply chain delays collide | C
US
December’s consumer prices are likely to be hot, but the peak could come soon | C
It's time to choose, Biden tells Republicans in fiery voting rights speech | R
Michael Shvo’s Big Bet on Offices and Retail Faces Pandemic Test | W
Japan
Japan manufacturers' mood slips as rising costs pressure profit margins - Reuters Tankan | R
As costs soar, some Japanese companies do the unthinkable: raise prices | R
Geopolitics & trade
N.Korea's Kim calls for more 'military muscle' after watching hypersonic missile test | R
Industries & companies
Airlines: United cuts flights as about 3,000 workers call out sick from Covid | C
Financials: UBS Targets Less-Wealthy Customers With Advice by Device | W
Pharma: Medicare to Pay for Biogen’s New Alzheimer’s Drug in Clinical-Trial Patients | W
Climate
'Furnace': Argentina roasts in record-setting heat wave | R
Virus
Omicron variant: U.S. sets fresh records for Covid hospitalizations and cases with 1.5 million new infections | C
WHO says omicron is life threatening for unvaccinated, elderly, underlying conditions | C
U.S. Strikes Deal for Additional Supply of Covid-19 Antibody Treatment | W
As Omicron Spreads, Some Nations Offer a Second Covid-19 Booster | W
China Covid-19 Lockdowns Hit Factories, Ports in Latest Knock to Supply Chains | W
Chicago’s Parents Prove to Be Key in Getting Schools Back in Session | W
January 11 (Tuesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 10.
Markets
Stocks fall further as U.S. yield climb unnerves investors | R
Higher interest rates upset stock market as hot inflation tests the Fed | C
Nasdaq Composite Erases Losses, Finishes Positive | W
Furious Rally Sends Nasdaq to Biggest Rebound Since March 2020 | B
ARK Innovation ETF (ARKK): The Strategy Is Dead
Central banks
Four Fed Hikes May Be Just the Start as Traders Lift Rate Bets | B
Goldman predicts the Fed will hike rates four times this year, more than previously expected | C
Jamie Dimon sees the best economic growth in decades, more than 4 Fed rate hikes this year | C
Jerome Powell Testimony Released Before Senate Hearing | B
Fed Vice Chair Clarida to step down early following scrutiny over his trades during pandemic | C
IMF says emerging economies must prepare for Fed policy tightening | R
US
Workers Sick With Omicron Add to Manufacturing Woes. ‘The Hope Was That 2022 Would Get Better.’ | W
Mortgage rates just jumped again. What that means for homebuyers | C
IRS Warns of Service Delays When 2021 Tax-Filing Season Opens on Jan. 24 | W
Europe
Euro zone investor morale rises slightly as mood stabilises | R
China I
China's Xian locks down its 13 mln residents as COVID-19 cases rise | R
China's COVID Lockdowns Add to Concerns About Economy : NPR
China’s Covid-19 Lockdowns Starting to Sting | W
China’s Zero COVID Strategy Braces for Omicron
China II
COVID-19 rattles major Chinese manufacturing province | R
Factories shut and Ningbo restricts truckers in Zhejiang province lockdowns
China Offers Digital Yuan at Beijing Winter Olympics to Test Overseas Appeal | B
Geopolitics & trade
China Locks Down City Containing One of World's Busiest Ports, Could Impact Supply Chain
China covid quarantines, lockdowns impact global supply chain | Quartz
China’s goal for blue sky Beijing Winter Olympics set to cause ‘supply-side shock’ as factories close | SCMP
China restricts factory operation for Olympic... ‘Emergency’ for South Korean manufacturers
China Names Former Xinjiang Commander to Lead Troops in Hong Kong | W
U.S., Russia See Little Progress in Early Talks on Ukraine Crisis | W
An anti-Soviet protest in Kazakhstan haunts the country's current unrest
Industries & companies
Tech: Microsoft Hit by Defections as Tech Giants Battle for Talent to Build the Metaverse | W
Corporate finance
Take-Two Interactive to Buy FarmVille Maker Zynga in $11 Billion Deal | W
SEC Pushes for More Transparency From Private Companies | W
Virus I
U.S. Covid-19 Cases Set to Triple Pre-Omicron Record | W
U.S. breaks COVID-19 hospitalization record at over 132,000 as Omicron surges | R
As less-lethal Omicron surges, Europeans ease restrictions | R
Hospitals Cut Beds as Nurses Call In Sick With Covid-19 | W
Virus II
Pfizer CEO says two Covid vaccine doses aren't 'enough for omicron' | C
Pfizer Begins Making Shot That Targets Omicron, Original Virus | B
Merck expects COVID-19 pill molnupiravir to be effective against Omicron | R
The Supreme Court appears more afraid of Joe Biden than it is of Covid-19 | Vox
Researchers develop an RNA-based breath test to detect COVID-19
Facebook (Meta) delays office return to March, Covid boosters required | C
Technology
Chatbots: Still Dumb After All These Years
China's $1 trillion 'artificial sun' fusion reactor just got five times hotter than the sun
Climate
The EU Finally Admits Natural Gas And Nuclear Are Key To Decarbonization
Beyond markets
Yale, Georgetown, Other Top Schools Illegally Collude to Limit Student Financial Aid, Lawsuit Alleges | W
U.S. man recovering after 'breakthrough' pig-heart transplant | R
The First NFT Billionaires: OpenSea Founders Each Worth Billions After New Fundraising | FO
January 10 (Monday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 3.
Markets
Stock Funds Rose 22.5% in 2021 | W
Inflation, rising rates and the Federal Reserve could whip stocks | C
Bond Selloff Rattles Markets | W
Why It’s Time to Invest in Commodities, and How to Do It | BR
Central banks
Forget Fed Rate Hikes. How It Handles Its $9 Trillion in Assets Is What Really Matters. | BR
Global
Inflation Has Always Been Hard to Control. This Time Is No Different. | BR
US
Americans’ Finances Got Stronger in the Pandemic—Confounding Early Fears | W
Confused about America's job market? Economists are, too | NN
Supply-Chain Issues Leave New Homes Without Garage Doors and Gutters | W
States Could Drive Rising Prices Even Higher. Here’s How. | BR
Covid-19 School Closures Reignite Political Jockeying Ahead of Midterms | W
Europe
Will Mario Draghi move to Italy’s largely ceremonial presidency? | E
Geopolitics & trade
How to talk to Mr Putin | E
Industries & companies
Energy: Royal Dutch Shell Stock Is One of Barron's Top Picks for 2022 | BR
Financials: Banks Are Making It Easier to Get Credit Cards | W
Health Care: How health care is turning into a consumer product | E
Retail: Stock Pick: Nordstrom Looks Like a Cheap Play on High-End Retailing | BR
Tech: IBM Could Be One of the Big Turnaround Stories of 2022 | BR
Tech: The Metaverse’s Effects on Mental Health: Trivial or Troubling? | W
Corporate finance
Spinoffs Fared Poorly in 2021 as Victoria's Secret, Vimeo, and Organon Slumped | BR
Virus
U.S. Covid-19 Seven-Day Case Average Tops 700,000 | W
Latest Covid Wave Likely Peaking on East Coast, Gottlieb Says | BR
Labs Limit Covid-19 Test Access as Demand Soars | W
Omicron Comes to China, Prompting Mass Testing and Quarantines | W
Europe’s Omicron Battle Plan: Hassle the Unvaccinated | W
Cyprus reportedly discovers a Covid variant that combines omicron and delta | C
Climate
Study Forecasts Greater Hurricane Risk in Northeastern U.S. | W
Beyond markets
Economists are agreeing with each other more | E
The rise of performative work | E
January 08 (Saturday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 3.
Markets
U.S. Stocks Close Lower After Jobs Report | W
Investors Brace for Slowing Corporate Bond Sales | W
Central banks
Fed on the cusp of 'maximum employment' goal; not everyone has benefited | R
U.S. labor market eyes maximum employment despite underwhelming December payrolls | R
Jobs Report Likely Keeps Fed on Track for Rate Rise in March | W
Larry Summers Says Fed, Markets Too Sanguine on Anti-Inflation Steps | B
ECB's Lane says inflation to fall this year | R
US
December Jobs Report: U.S. Added 199,000 Jobs | N
Hiring Hit Annual Record Despite December Slowdown | W
These Workers Wanted to Quit Their Jobs. They Got Promoted Instead. | W
Omicron variant likely to fuel inflation, as Americans keep shopping, economist says | C
Consumer Borrowing in U.S. Surges by a Record $40 Billion | B
Biden Administration Begins to Redirect Rental Assistance | W
Europe
Eurozone Inflation Hits a Record, Further Pressuring ECB | W
Geopolitics & trade
A Dangerous Moment for Europe | W
Taiwan Stages Military Drills to Deter Chinese Aggression | W
Industries & companies
Autos: Elon Musk says Tesla will raise price of 'FSD' to $12,000 in US | C
Tech: Cloud stocks plunge as investors sour on pandemic's top performers | C
Tech: Republicans wasted no time dragging Big Tech into the culture wars in 2022 | NN
Virus I
Opinion | Here’s When We Expect Omicron to Peak | N
Omicron surge pushes U.S. COVID hospitalizations toward record high | R
Omicron and the Week America Is Calling In Sick | W
Frustrated They Can’t Get Covid-19 Tests, Americans Go About Their Lives | W
Rapid nose swab tests for COVID may not detect Omicron quickly enough -expert says | R
Virus II
FDA shortens Moderna booster waiting period to 5 months for adults | C
Pfizer/BioNTech vaccine protects children against rare COVID-19 complication - CDC | R
Citigroup to Staff: Follow Our Vaccine Mandate Or We Really Will Fire You | W
Climate
Is Nuclear Power Part of the Climate Solution? | W
January 07 (Friday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 3.
Markets
Stocks End Lower After Choppy Session | W
CMBS Deals Are Lining Up for This Quarter | B
Hedge funds are selling tech shares at their fastest pace in a decade as rates spike | C
Central banks
The Fed is scaring markets with the triple threat of policy tightening | C
The Fed is going to tighten, the only question is how fast | R
Fed’s Bullard Eyes Three Rate Rises This Year, Says Fed Must Defend Inflation Credibility | W
Fed's Richard Clarida Sold Then Bought Stock Fund Before 2020 Bank Pledge | B
A Fed Official’s 2020 Trade Drew Outcry. It Went Further Than First Disclosed. | N
Global
Supply Chain Woes Prompt a New Push to Revive U.S. Factories | N
US
Consumer Demand for Goods Drove U.S. Import Surge During Holidays | W
China
Anger at Xi’an Lockdown Spreads in China | W
China’s smallest firms failing at historic pace as 4.37 million close up shop and registrations plummet | SCMP
Geopolitics & trade
Walmart in China’s Spotlight Again as Regulator Cites Infractions | W
Industries & companies
Consumer: Coca-Cola’s Fresca to Join Crowd of Canned Cocktails | W
Financials: Société Générale Bets $5.5 Billion on Car-Leasing Business | W
Retail: Walgreens Posts Higher Sales and Profit From Covid-19 Demand | W
Tech: Morgan Stanley (MS) Suggests Rout in Expensive Tech Is Almost Over | B
Tech: SpaceX: Starlink internet service has more than 145,000 users so far | C
Virus
America calls out sick - CNN
Biden, in Shift, Prepares Americans to See Covid-19 as Part of Life | W
Omicron may be less severe in young and old, but not 'mild' - WHO | R
Japan Criticizes U.S. Response After Omicron Spreads Near American Bases | W
Moderna CEO says fourth Covid shot may be needed, citing efficacy issue | C
Cost of Covid-19 Testing Exceeds $100 for Some Families as Omicron Surges | W
Cryptocurrency
Bitcoin, Ether Prices Fall Along With Tech Stocks | W
GameStop Entering NFT and Cryptocurrency Markets as Part of Turnaround Plan | W
Beyond markets
Larry Fink Wants to Save the World (and Make Money Doing It) | W
January 06 (Thursday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Replay of Dr. Ed's webinar on January 3.
Markets
Dow drops nearly 400 points in first loss of 2022, as traders brace for a more aggressive Fed | C
Interest-Rate Worries Batter Stock Market | W
Asian shares skid as rising U.S. yields hit tech stocks | R
Treasury Selloff Deepens as Fed Opens Door to Faster Rate Hikes | B
China’s Covid-19 Lockdowns Cast a Pall Over Oil Demand Growth | B
Global
A New Barometer of Global Supply Chain Pressures | FRB-NY
Central banks
Fed Minutes Point to Possible Rate Increase in March | W
Fed minutes December 2021: Federal Reserve puts wheels in motion for balance sheet reduction | C
Hawkish Fed signals it may have to raise rates sooner to fight inflation | R
US
Underused Office Buildings Get New Life as Deluxe Apartments | W
U.S. Hospital Staff Shortages Hit Most in a Year on Covid Surge | B
Microbusinesses flourished during the pandemic. Now we must tap into their full potential. | Brookings
China
China’s Unpredictable, Heavy-Handed Governance Threatens Growth | W
As pressure mounts, China Evergrande seeks delaying onshore bond payment | R
Industries & companies
Airlines: Airlines Cancel More Than 1,000 Flights for 11th Straight Day | W
Airlines: 5G Truce Expected to Avert Many—but Not All—Flight Disruptions | W
Autos: Can Tesla (TSLA) Be Stopped? Toyota, VW Pour Billions Into Electric Cars 2022 | B
Autos: GM Reveals Electric Chevy Silverado to Counter Ford’s F-150 Lightning | W
Fitness: Nike sues Lululemon for patent infringement over at-home Mirror gym and fitness apps | C
Virus I
The CDC's new isolation guidelines are a communications disaster | msnbc.com
COVID testing policy put under the microscope as Omicron sweeps world | R
‘Flurona’ Is Coronavirus Plus Flu. How Bad Is That?: QuickTake | B
Biden Steps Up Vaccine Push as U.S. Cases Surpass Records | W
CDC Advisers Endorse First Covid-19 Boosters for 12- to 15-Year-Olds | W
Fourth Covid jab: We can’t vaccinate the planet every six months, says JCVI chief | telegraph.co.uk
Virus II
As the Supreme Court Prepares To Weigh Covid Rules, the Logic of Federal Mandates Starts to Fade | nysun.com
Omicron School Disruptions Stress Already-Frayed Parents—Again | W
Chicago Public Schools Cancel Classes After Teachers Vote Against In-Person Instruction | W
Michael Bloomberg: Children Can't Afford Teacher Walkouts | B
Inside a Covid-19 School Closing: A Pennsylvania Superintendent Agonizes Over Going Remote | W
Virus III
Omicron Pushes Wall Street Toward Work-From-Home Future | W
Walmart cuts paid Covid leave in half, as CDC isolation guidance changes | C
Grammy Awards postponed indefinitely amid omicron-fueled Covid surge | C
Technology
Deere Rolls Out Fully Autonomous Tractor at CES | W
Beyond markets
The NFT craze has stopped being funny | The Week
January 05 (Wednesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Markets
Dow posts closing record high for 2nd day, boosted by banks | R
Central banks
Fed's Powell, Brainard to get Senate hearings next week; Biden promises diversity | R
Fed’s Neel Kashkari Now Sees Two 2022 Rate Rises Amid Inflation Surge | W
US
Record U.S. quits, hiring slowdown may show Omicron's impact on labor supply | R
JOLTS November 2021: Record 4.5 million workers quit their jobs | C
U.S. manufacturing cools but globally factories take Omicron risks in their stride for now | R
Joe Manchin says he's had no talks about Biden's Build Back Better bill | C
China
Commentary: China's economy is faltering. The world just doesn't know it yet | CNA
The Made in China Plan Is Back, With a Focus on Industrial Robots and Automation | B
Lockdown of Chinese City Leaves 13 Million Stranded | W
Evergrande Is Told to Tear Down 39 Buildings on Man-Made Island | W
Olympic Committee Becomes Latest Target of Critics of Treatment of Uyghurs | W
Geopolitics & trade
North Korea Fires Missile Off Its East Coast | W
Russia’s Military Buildup Near Ukraine Is an Open Secret | W
Cyber attack prompts Italy to rethink use of Chinese surveillance cameras | theallineed.com
Industries & companies
Airlines: Airlines cancel another 1,400 flights as omicron, severe weather continue to snarl travel | C
Autos: Toyota Overtakes GM as Bestselling Auto Maker in U.S. | W
Autos: EVs Could Revive Detroit’s Supply-Chain Woes | W
Pharma: Why Biogen's Alzheimer's drug Aduhelm is so controversial | C
Retail: Macy's cuts store hours at all of its stores as Covid cases spike | C
Virus
U.S. Covid-19 Infections Top One Million After Holiday Backlog | W
Omicron makes up 95% of sequenced U.S. Covid cases as infections hit record | C
Universities' Covid Policies Defy Science and Reason | substack.com
CDC declines to add Covid testing recommendation to updated isolation guidance despite criticism | C
CDC Backs Pfizer-BioNTech Booster for Immunocompromised Children | W
Walmart, Kroger Raise Prices of Covid-19 Test Kits | W
Beyond markets
WeWork Co-Founder Adam Neumann Is Becoming an Apartment Mogul | W
January 04 (Tuesday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Markets I
U.S. Stocks Close Higher to Start 2022 | W
Stock Market Slows. Surging Inflation. Dismal Bonds: What Wall Street Expects in 2022 | B
Markets II
New Year Sends Treasury Yields Higher | W
OPEC+ report sees short-lived, mild impact from Omicron variant | R
Don't reinstate the ban on US crude oil exports | Washington Examiner
Chinese Companies Listed at Home Surge While Crackdowns Clobber Those Abroad | W
Central banks
Fed’s Moves in 2022 Could End the Stock Market’s Pandemic Run | N
Markets and the economy brace as the Fed's first hike could come in two months | C
Global
U.S., European Factories See Easing Supply Strains, but Omicron Threatens Setbacks | W
US
Democrats Blast Corporate Profits as Inflation Surges | N
Monthly Child-Tax-Credit Payments Cease, Ending Cushion for Family Budgets | W
Families who got the child tax credit need to look out for this letter | C
Biden Launches Plan to Fight Meatpacker Giants on Inflation | B
A Nation on Hold Wants to Speak With a Manager | N
China
China Is Haunted by Its One-Child Policy as It Tries to Encourage Couples to Conceive | W
China Evergrande gets building demolition order; share trading halted | R
Industries & companies
Airlines: Airline stocks surge as investors shrug off thousands more flight cancellations | C
Autos: GM, Volkswagen Build Up Their Battery Supply Chains Amid Electric-Vehicle Push | W
Restaurants: Opinion | How Much More Can the Restaurant Industry Take? | N
Tech: Tesla stock closes up 13% after reporting record vehicle deliveries for 2021 | C
Tech: GAF Energy taking on Tesla, to make solar shingles cheaper | C
Tech: Apple AirPods business grew like gangbusters over the holidays | C
Geopolitics & trade
Russia, China, Britain, U.S. and France say no one can win nuclear war | R
Virus I
Covid-19 Cases Soar to New Records in U.S. | W
Covid Cases Are at Record Highs, But U.S. May Still Be Undercounting | B
Omicron Cases Are Hitting Highs, But New Data Puts End in Sight | B
FDA expands Pfizer booster eligibility to kids ages 12 to 15, authorizes third shots at 5 months | C
Coronavirus Tracker | W
Virus II
Happy New Year: Chaos, Omicron Kill Hopes of Return to Normal in 2022 | B
U.S. schools delay openings as Omicron rages; New York City hits 33% positivity rate | R
New York City Covid Infections May Be at Peak, Nate Silver Says | B
Starbucks readies its workforce for Biden's vaccine-or-test mandate | C
Corporate finance
Apple's $3 trillion market cap shows value of share buybacks, dividend | C
January 03 (Monday)
YRI
Daily Markets Overview
See subscribers' link below for today’s Morning Briefing.
Markets
S&P 500 ends 2021 with a nearly 27% gain, but dips in final trading day | C
Stocks Face Rockier Path in 2022 as Fed Rate Increases Loom | W
Stocks could ride the 2021 tailwind into the new year, but the jobs report and Fed will be in focus | C
A Top Emerging Markets Fund Puts the Spotlight on Indian Stocks | BR
OPEC+ report sees short-lived, mild impact from Omicron variant | R
Central banks
Fed Rate-Setting Panel Gets New Members in 2022 Amid Rate-Rise Expectations | W
US I
Omicron Takes a Toll on Businesses, From Airports to Bars and Supermarkets | W
Amid another Covid surge, schools and businesses find plans disrupted | C
Democrats Seek Filibuster Changes to Pass Elections Bills | W
The Republicans are still Donald Trump’s party, and they can still win | E
Retired generals warn U.S. military deeply divided and future coup attempt possible | The Globe and Mail
Infrastructure Investments Need to Focus on Resilience to Generate Maximum Impact | BR
US II
Headaches and Backlogs Loom as Tax Filing Season Nears Again | W
The Great Resignation Was Inevitable, Says the Texas A&M Professor Who Coined the Term. Here’s What Comes Next. | BR
Financial Advisors Are Moving to Florida In Droves. Why, and What That Means for You. | BR
China
China Evergrande Revises Payment Plan for Wealth-Management Products | W
Geopolitics & trade
China and Russia Military Cooperation Raises Prospect of New Challenge to American Power | W
China harvests masses of data on Western targets, documents show | WP
Industries & companies
Airlines: Rocky start to 2022 air travel as bad weather, omicron drive thousands of cancellations | C
Airlines: Omicron-related disruptions cause over 4,000 flight cancellations to kick off 2022 | R
Autos: The 18 Best EVs Coming in 2022 | WIRED
Autos: Tesla TSLA Q4 2021 vehicle delivery and production numbers | C
Manufacturing: Can Paper Replace Plastic? A Packaging Giant Is Betting It Can | W
Media: AT&T, Verizon Refuse FAA Request to Delay 5G Launch | W
Tech: Chip Stocks Are Booming. Where to Find Bargains Now. | BR
Virus I
U.S., Europe Weigh Isolation Requirements as Omicron Disrupts Daily Life | W
U.S. is considering recommending that individuals exposed to Covid end isolation if they've tested negative for the virus after five days, Dr. Fauci says | C
Omicron causes a less severe illness than earlier variants | E
Kulldorff & Bhattacharya Respond: The Collins and Fauci Attack on Traditional Public Health | theepochtimes.com
Virus II
A cluster of covid-19 cases in China prompts a citywide lockdown | E
Israel to offer fourth COVID vaccine shot to over 60s, medical staff | R
Why travel bans are usually the wrong way to curb Omicron | E
Why Cloth Masks Might Not Be Enough as Omicron Spreads | W
COVID outbreak ends cruise for thousands on German ship in Lisbon | R
Corporate finance
Global M&A volumes hit record high in 2021, breach $5 trillion for first time | R
A Booming Startup Market Prompts an Investment Rush for Ever-Younger Companies | W
Cryptocurrency
Is a greener, faster and more decentralised alternative to Bitcoin possible? | E
The $2 Trillion Cryptocurrency Market Is Drawing Interest From Investors, Scrutiny From U.S. Regulators | W
Beyond markets
Jeffrey Sachs Took Millions From UAE to Research “Well-Being” | theintercept.com
Betty White: 'You don't give up' and 4 other pieces of sage advice | C
