June 16 (Thursday)
Latest Morning Briefing Executive Summary: Stocks & Crypto
Ready for an unflinching look at the mauling the bear market has inflicted on specific S&P 500 sectors and industries? Jackie assesses the valuation and share-price carnage among the worst and best performers relative to both one year ago and January 3, when the S&P 500 peaked at its record high. … Also: Crypto lending markets have blown up for the second time in as many months. We look at the unregulated business that’s been called the “Wild West” of lending—the players, their troubles, and the SEC’s concerns. … Also: Car-sharing companies like the soon-to-be-public Turo aim to disrupt the car rental industry with an Airbnb-like business model.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 13.
Markets
Stocks rally, Treasury yields rise after Fed lifts rates by 75 bps | R
Oil prices fall over 2% as Fed hikes interest rates | R
Generation Z Is Getting a Harsh Lesson in Stock Risk | B
Energy
Nord Stream 1 gas supply cut aimed at sowing uncertainty, Germany warns | R
EU Signs Gas Deal With Israel, Egypt in Bid to Wean Itself off Russian Supplies | W
Biden Pushes Fuel Makers to Boost Capacity, Criticizes Profits | W
Central banks I
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994 | C
Powell says Fed could hike rates by 0.75 percentage point in July | C
Fed members predict more hikes with the benchmark rate above 3% by year-end | C
Here’s what changed in the new Fed statement | C
Central banks II
Bond Market Spooks ECB Into Doing…Nothing | B
ECB pledges new crisis tool to help indebted southern states | R
ECB Prepares New Tool to Tackle Rising Borrowing Costs in Weaker Economies | W
US I
U.S. Retail Sales Declined in May as Inflation Stings Consumers | W
U.S. business inventories rise strongly; sales slow | R
U.S. Home Equity Hits Highest Level on Record—$27.8 Trillion | W
U.S. mortgage interest rates jump to highest level since 2008 | R
On Inflation, Economics Has Some Explaining to Do | W
The Real Problem With Inflation | Morningstar
US II
Inflation Puts Janet Yellen at Odds With Biden White House | B
Biden Administration to Start Spending on Cleanup of ‘Forever Chemicals’ in Drinking Water | W
China
China’s Economy Shows Signs of Recovery, but Covid Lockdown Threat Remains | W
China bank protest stopped by health codes turning red, depositors say | R
Geopolitics & trade
China’s Xi Reaffirms Support for Moscow in Call With Putin | W
U.S., Allies Pledge New Help to Ukraine Against Russia Amid Growing Strains | W
Ukraine ignores Sievierodonetsk ultimatum, urges faster arms deliveries | R
Industries & companies
Autos: Tesla Tops List of Crashes Thought to Involve Driver-Assistance Technology | W
Autos: Foxconn Starts Building a Plant for Electric-Vehicle Batteries in Taiwan | W
Corporate finance
Lego to Spend $1 Billion on New U.S. Factory | W
Climate & sustainability
Nuclear Is Back on the Table for a Green Future | N
Inside the MARVEL micronuclear reactor project at Idaho National Lab | C
Beyond markets
Caterpillar and Boeing Show Headquarters Don’t Matter | B
