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.
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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 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