August 03 (Wednesday)
Latest Morning Briefing Executive Summary: US Earnings & European Gas
Industry analysts finally have begun reining in their high earnings, revenues, and profit margin expectations. Their moves suggest that analysts collectively expect inflation to moderate but don’t anticipate a recession. … Also: Europe may face a cold, dark winter—literally and economically—if Russia doesn’t restore the natural gas flows to Europe that the EU depends on. Melissa presents a timeline of Russia’s gas-depriving moves and the responses from government and gas futures markets. … And: Soaring energy prices are dampening European consumer and business sentiment, boding ill for GDP growth and corporate earnings prospects. The only EMU MSCI sector with unscathed earnings growth expectations is Energy.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 1.
Markets
OPEC+ Considers Modest Oil-Production Increase, Output Freeze, Say Delegates | W
Japan’s Yen Recovery Cut Short After Biggest Four-Day Advance Since 2020 | B
Central banks
Fed’s Mary Daly says ‘our work is far from done’ in raising rates | C
The Federal Reserve Just Can’t Stop Bond Traders’ Wishful Thinking | B
US
Higher Mortgage Rates Haven’t Slowed Home Price Growth – Yet | Mortgages and Advice | US News
The ‘recession cure’ divides economists | NN
Automakers press U.S. Senator Manchin for changes to EV tax credit proposal | R
Rent prices are soaring in these 5 metros. What to know before moving | C
China
China ratchets up military and economic pressure on Taiwan as Pelosi begins her visit | C
Europe
Europe’s Coal-Buying Frenzy Means Windfall for Producers | W
Geopolitics & trade
Russia accuses U.S. of direct Ukraine war role, grain ship anchors off Turkish coast | R
Ukraine Scrambles to Shift Its Grain Before Storage Runs Out | W
Pelosi arrives in Taiwan vowing U.S. commitment; China enraged | R
Nancy Pelosi’s Taiwan Trip Will Encourage China’s Gray-Zone Tactics | B
Industries & companies
Consumer discretionary: Three more Amazon warehouses added to OSHA safety investigation | C
Retail: Snack, Deodorant Makers Target Cost-Conscious Shoppers With New Brands and Sizes | W
