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.
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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