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
