June 08 (Wednesday)
Latest Morning Briefing Executive Summary: Whip Inflation Now!
There’s no disputing it anymore: America’s inflation problem isn’t transitory. It has been persistent. The question now is whether it is protracted or not. Biden’s response to “our top economic challenge” is lame. … On a brighter note, we expect the release of May’s CPI report on Friday to show that consumer durable goods inflation is rapidly moderating. On a dimmer note, that positive should be partially offset by the unabated climb of prices for gasoline, groceries, and rent. … Also: Europe’s economy has been remarkably resilient in the face of its formidable challenges. Melissa examines the headwinds and tailwinds for Europe’s economy and MSCI index.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 6.
Markets
Dow rises more than 200 points as traders try to shake off Target’s profit warning | C
Stocks Finish Volatile Session Higher | W
Global
World Bank Warns of Stagflation Risk, Cuts Global Growth Forecast to 2.9% | W
Global Growth Will Be Choked Amid Inflation and War, Says World Bank | N
US I
Fed GDP tracker shows the economy could be on the brink of a recession | C
The Potential Dark Side of a White-Hot Labor Market | N
U.S. Imports Slowed in April, Shrinking Trade Deficit From Record | W
US II
As Biden dithers, states are enacting meaningful inflation policy | The Hill
Biden to relax China tariffs in lame bid to address inflation | P
Yellen says U.S. inflation ‘unacceptable’ but likely to stay high | R
Japan
Japan Adopts View That Huge Government Debt Doesn’t Matter | W
Geopolitics & trade
Ukraine’s Zelenskiy says it will fight for all territory amid fierce battle in east | R
Russia Is Weaponizing Food Supplies in Ukraine, Europe Says | W
EXCLUSIVE Russia hikes oil exports from major Eastern port to help offset EU ban | R
Industries & companies
Airlines: Want to Fly This Summer? Good Luck Traveling to a Small City. | W
FinTech: Apple expands fintech ambitions in iOS 16 | C
Retail: Target warns of squeezed profits from aggressive inventory plan | C
Beyond markets
The Diablo Canyon control room turned this mom into a nuclear advocate | C
