June 21 (Tuesday)
Latest Morning Briefing Executive Summary: Revisiting Venus and Mars
“What planet are you from?,” analysts and investors may be wondering of each other these days, with the former super bullish and the latter super bearish. Analysts weren’t bullish enough about Q1 earnings. Yet investors are solely focused on the recession risk as the Fed fights inflation and have been pounding down valuations. … Barring a recession, the S&P 500 appears fairly valued, though we look today at a couple of still concerning valuation models. And of course, the odds of a recession aren’t trivial. … Also: The MegaCap-8 stocks are no longer “the Magnificent 8”; we examine their rise and fall. … And: Dr. Ed reviews “Jurassic World: Dominion” (- – -).
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 13.
Markets
Stocks Historically Don’t Bottom Out Until the Fed Eases | W
Energy & food
‘The situation is serious’: Germany plans to fire up coal plants as Russia throttles gas supplies | C
Less Russian Gas Puts Europe’s Winter Fuel Supply in Jeopardy | W
Why grain can’t get out of Ukraine | Vox
Central banks
Europe faces ‘severe’ risk of disorderly financial market correction: Lagarde | R
Fed’s Bullard Says He Expects Economic Expansion to Continue This Year | W
Fed’s Bullard: I hope U.S. economy repeats outcome of 1994’s soft landing | R
US I
Inflation and recession fears are squeezing some industries more than others | C
Here’s why this housing downturn is nothing like the last one | C
Biden says decision on pause on federal gasoline tax could come by end of week | R
US II
Labor Shortage Stymies Construction Work as $1 Trillion Infrastructure Spending Kicks In | W
School’s Out for Summer and Many Teachers Are Calling It Quits | W
Small Businesses Fall Behind on Hiring as Inflation Takes a Toll | W
Europe
France risks gridlock after Macron handed hung parliament | R
Geopolitics & trade
Putin fears “spark of democracy”, Germany’s Scholz says | R
Denmark keeps F-16 fighter jets flying due to Russia threat | R
Russia warns NATO-member Lithuania over Kaliningrad transit | R
Russia pounds villages in the Donbas; Mariupol residents said to be ‘on the brink of survival’ | C
WTO Steps Back from the Abyss of Irrelevance… but Crucial Issues Remain Unresolved | Cato at Liberty Blog
Israel’s parliament to dissolve, Foreign Minister Lapid to become prime minister | C
Industries & companies
Airlines: Emirates boss says travel demand unlikely to dissipate despite airport chaos | C
Airlines: Flight Cancellations and Delays Snarl Travel During Busy Holiday Weekend | W
Autos: How GM, Ford and Tesla are tackling the national EV charging challenge | C
Autos: Volvo says it has started testing trucks with fuel cells powered by hydrogen | C
Crypto
Bitcoin bounces back after falling to new 2022 lows over the weekend | C
Crypto lending firm Celsius asks users for more time to fix issues after halting withdrawals | C
Beyond markets
Yellowstone National Park to Partially Reopen After Devastating Floods | W
