July 12 (Tuesday)
Latest Morning Briefing Executive Summary: Thumbs Up or Down For Q2 Earnings?
Ready for the earnings season? Investors have been fearing a recession since this year began, as depressed stock valuations attest, while industry analysts have catapulted their earnings and revenues estimates to record highs. There’s certainly no recession evident in forward revenues or forward earnings. … We think Q2 earnings calls will be full of examples of inflation boosting companies’ results and the Fed’s response to inflation not yet depressing them. However, the strong dollar and weaker global economic growth will weigh on earnings. Today, we provide a sector-specific rundown of issues that we expect to hear a lot about on Q2 earnings calls.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 5.
Markets
U.S. Stocks End Lower Ahead of Inflation Data, Earnings Season | W
Global shares decline, bond yields slide and dollar rallies amid inflation fears | R
Global Investors Dump Bonds of Chinese Banks That Lent Heavily to Russia | W
Central banks
Those Predicting a ‘Fed-Induced Recession’ Misunderstand the Meaning of Recession | FO
US
Most Democrats want Biden not to run for president in 2024 | C
Biden’s bombed with business, and there’s panic in the C-suite | P
Donald Trump and the Midterms | W
Democratic-Led States Let Their Federal Unemployment Debts Linger | W
Homebuyers are canceling deals at highest rate since start of Covid | C
Europe
Europe fears extended shutdown as Russia halts gas flows to Germany | C
Chip Giants to Build Factory in France as Global Supply Race Rolls On | W
UK inflation still likely to fall sharply next year, BoE’s Bailey says | R
Emerging
Chile currency plunge, inflation rattle Latin America’s copper king | R
Geopolitics & trade
Chinese Communist Cells in Western Firms? | W
Global Tax Talks Hit Another Delay | W
Industries & companies
Media: Moviegoers are leaving their couches for theaters, bringing summer box office sales close to pre-pandemic levels | C
Retail: Amazon’s smart grocery carts are coming to some Whole Foods stores | C
Retail: Nobody likes self-checkout. Here’s why it’s everywhere | NN
Climate
Farmers are making thousands of dollars from carbon credits | C
Texans Are Asked to Conserve Power as Extreme Heat Threatens Electric Grid | W
Technology
Miners Are Relying More on Robots. Now They Need Workers to Operate Them. | W
Corporate finance
Hiltzik: Musk wants out of his Twitter deal, no surprise there | LA Times
Beyond markets
First Full-Color Image From NASA’s James Webb Space Telescope Unveiled by Biden | W
Omicron Strains Drive New Covid Wave in Europe as Measures Fall Away | W
