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
