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.
(subscribers’ link)
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
