July 02 (Saturday)

Latest Morning Briefing Executive Summary: Health Care, Finance & Batteries
The S&P 500’s Health Care sector is pumped: It has outperformed most other sectors ytd and is tied for first place (with Utilities) measured since the S&P 500’s recent low on June 16. Jackie parses the opportunity, examining the investment pros and cons of the sector overall and of specific industries and companies within it. … Also: Which fintechs deserve master accounts with access to the Fed’s payments system? A couple of recent controversies put that question front and center as the Fed works on rules to govern the process of granting master accounts. … And: A look at where Tesla is going with its battery technology.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 27.

Markets
Stocks rally to end the first day of the second half, Dow jumps 300 points | C
U.S. Stocks Finish Higher After Worst Start to Year in Decades | W
Opinion: Stocks could drop 50%, Nouriel Roubini argues. Things will get much worse before they get better. | MW

Energy & climate
JPMorgan Sees Oil at $380 on Worst-Case Cut by Russia | B
Exxon signals operating profits could double over the first quarter | R
Biden Proposes New Offshore Drilling Leases | B
India bans single-use plastic to combat pollution | R

Central banks
Eurozone Inflation Hits New High, Pressuring ECB to Raise Key Rate More Forcefully | W

US
Atlanta Fed GDP tracker shows the U.S. economy is likely in a recession | C
Cooling Demand for Goods Threatens to Turn Pandemic Boom Into Bust | W
Will Home Prices Fall? Sudden Housing Turn Has Sellers Paring Expectations | B
Gas Prices Force Many to Rethink Driving, and Spending | N
 
China
Wuhan Sees Virus Return Days After Xi Reinforces Covid Zero in China | B
China’s Xi Jinping Says Hong Kong’s Loyalty to Beijing Will Ensure Prosperous Future | W
 
Geopolitics & trade
Exclusive: Ukraine requests Turkey detain Russian-flagged ship it says carrying Ukrainian grain | R
Chinese company’s purchase of North Dakota farmland raises U.S. security concerns | C
U.S.-China Competition Zeroes In on Growth | W
TikTok tells U.S. lawmakers it’s working to protect user data | C
There’s a massive pile-up of car, furniture exports bound for US | C

Industries & companies
Autos: GM Says Unfinished Cars to Hurt Quarterly Results | W

Beyond markets
How America’s Summer Vacation Came Back Stronger Than Ever | W