July 08 (Friday)

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
Stocks Close Higher as Investors Parse Economic Data | W
Gasoline futures are dropping, which could mean more relief at the pump | C

Central banks
Fed officials Waller and Bullard back another big interest rate increase in July | C

US
Mortgage Rates Fall to 5.30%, Reflecting Recession Fears | W
San Francisco Home Prices Start to Fall as Headwinds Mount | B
Big Cities Can’t Get Workers Back to the Office | W
Working Parents Are Having a Rough Summer. Some Co-Workers Don’t Want to Hear About It. | W
Ron DeSantis plans Utah fundraiser with GOP megadonors, signaling possible presidential run | C
Even managers are quitting their jobs and joining the Great Resignation | Vox

Europe
Boris Johnson Resigns Amid Scandals but Says He Will Remain U.K.’s Prime Minister Until Successor Is Found | W
UK Labor Demand Grows at Slowest Pace in 16 Months, REC Says | B

Industries & companies
Retail: Walmart won’t hold rival event to Amazon Prime Day | C

Corporate finance
Spirit again delays vote on Frontier deal to continue deal talks with budget airline and JetBlue | C

Technology
3-D Printing Grows Beyond Its Novelty Roots | N

Crypto
Crypto Tumult Highlights Lack of Investor Protections | W