June 10 (Friday)
Latest Morning Briefing Executive Summary: Energy & Consumers
President Biden says he wants to bring down gas and other energy prices. But his actions on the margin have been ineffectual so far. We doubt he’ll solve the problem without unshackling the US oil and gas industry’s production. Environmentalists wouldn’t be happy, but American citizens likely would. … And: We’re starting to notice industry analysts trimming earnings estimates for companies in the S&P 500 Consumer Discretionary sector. We examine which industries have seen estimates drop the most. … Also: A look at some innovative new products for these high-energy-cost times.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 6.
Markets
Stocks, euro slip as ECB sets rate hikes, CPI looms | R
Beware of a Bear Market That Is More Than a Cub | WP
Oil falls on demand worries over Shanghai’s new partial lockdowns | R
Natural-Gas Prices Swing in Volatile Trading After Fire in Texas and New Inventory Data | W
Central banks
ECB Plans July Rate Increase as Inflation Problem Deepens | W
Central Banks Are Still Far Behind the Inflation Curve by Willem H. Buiter & Anne C. Sibert | PS
US I
May consumer inflation expected fiery hot as gas, food and rent rose | C
Consumers changing eating, shopping habits as inflation pushes up prices | C
As Gas Prices Near $5 a Gallon, Record Fuel Costs Upend Businesses, U.S. Economy | W
What Is Stagflation? What to Know About the World Bank’s Global Economic Outlook | W
The more gasoline rises above $5, the greater risk there is of recession | C
US II
Yellen says U.S. recession unlikely, but no drop in gasoline prices soon | R
Bringing inflation down is going to take time, patience — and pain | C
Home Buyers Finding Creative Ways to Make All-Cash Offers in Hot Market | W
Median Rent in Manhattan Reaches a New High | N
China
Shanghai faces unexpected round of COVID testing for most residents | R
China’s producer inflation eases to 14-month low in May | R
Geopolitics & trade
After veto on North Korea, China says ‘let’s see’ on U.N. action over a nuclear test | R
Industries & companies
Tech: The Billionaires Behind a Push to Reinvigorate U.S. Chip-Making | N
Beyond markets
Seeking a Return to Offices, Bosses Lost Leverage | N
German Brewers Face ‘Unprecedented’ Beer Bottle Shortage | N
