July 07 (Thursday)

Latest Morning Briefing Executive Summary: China, Earnings & Batteries
China’s stock market has enjoyed a nice bounce this year as President Xi’s policies have grown more business friendly as the Chinese Communist Party meeting approaches. We remain concerned about the heavy debt loads forcing Chinese real estate development companies to restructure. We’re also watching Covid cases and Chinese exports to the slowing US and European economies. … We also take a look at which industries’ consensus earnings have been revised down by analysts so far this year. … Electric vehicles may emit less CO2 than internal combustion engines, but manufacturing and disposing of lithium batteries is an awfully dirty business.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 5.

Markets
Stock Markets Inch Higher as Investors Study Fed Minutes | W
Treasury yields jump as Fed hints at another big hike at next meeting | C

Central banks
Fed Saw ‘More Restrictive’ Rates Possible If Inflation Persists | B
Japan could be about to surprise markets with monetary policy | C
 
Global
IMF chief says ‘cannot rule out’ possible global recession | R
World hunger rising as U.N. agencies warn of “looming catastrophe” | R

US
Inflation Fears Drove Larger Fed Rate Increase in June | W
Hot job market and Great Resignation persist despite recession threat | C
Hiring Demand Remained Strong in May | W
Cheap Rent? Here’s Where Apartment Market Is Starting to Cool Off | B
That Fancy University Course? It Might Actually Come From an Education Company. | W

Europe
France’s Macron Confronts Divided Parliament With Plan to Raise Retirement Age | W

Japan
Japan’s Kishida hopes to put stamp on premiership in upper house polls | R

Geopolitics & trade
China Escalates Efforts to Influence U.S. State and Local Leaders, Officials Warn | W
N.Korea’s Kim convenes conference for strengthening ‘monolithic’ party rule | R

Industries & companies
Airlines: American Airlines pilots get triple pay for trips dropped in scheduling glitch | C
Autos: GM reports worst sales in China since onset of Covid-19 lockdowns | C
Consumer Discretionary: Amazon and Grubhub Strike Deal to Bring Restaurant Delivery to Prime Members | W
Media: Hulu faces existential crisis as Disney decides how to move forward | C
Media: Big Hollywood movies are being made with Chinese audiences in mind – Vox
Tech: Apple iPhone Lockdown Mode is meant to stop state-sponsored hacking | C

Beyond markets
FDA Will Help Overseas Baby-Formula Makers Keep Selling in U.S. Beyond Shortages | W
Covid-19 Vaccine Doses, Once in High Demand, Now Thrown Away | W