August 04 (Thursday)
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
Stocks End Higher on Earnings, Services Data | W
Energy
Gas Prices Have Fallen for 50 Straight Days, Approach $4 a Gallon | W
Russian Oil Cap Push Faces Doubts From Energy, Finance Industry | W
Nuclear Power Plants Could Stay Open, Says Germany | W
Central banks
Federal Reserve rate hikes could be worse than inflation for the economy | MSNBC
Fed Officials Signal Additional Rate Rises Warranted to Slow Economy | W
US
Consumer debt tops $16 trillion as inflation fuels credit card surge | NN
Tech companies, banks overstaffed, while airlines, hotels need workers | C
Cost of Democrats’ Corporate-Tax Increase Skews to Wealthy, Reaches Middle Class | W
Manchin-Schumer Bill Gets CBO Nod for $102 Billion Deficit Cut | B
Manchin Deal Tosses $30 Billion Lifeline to US Nuclear | B
China
China Real Estate Market: Mortgage Boycott May Spur Multi-Billion Dollar Rescue | B
China’s Property Crisis Threatens to Drag Down Steel Industry | yahoo.com
Geopolitics & trade
Pelosi lauds Taiwan, says China’s fury cannot stop visits by world leaders | R
As Pelosi Leaves Taiwan, China’s Military Looms Larger | W
To understand China’s Pelosi rage, consider a Civil War analogy | Washington Examiner
Pelosi’s trip to Taiwan makes matters worse for U.S. and China relations | C
Big Tech Is the West’s Surprise Weapon in Competition With Russia, China | W
With eye on Russia, U.S. Senate backs Finland and Sweden’s joining NATO | R
Industries & companies
Autos: Chip makers have a message for car makers: Your turn to pay | R
Autos: EV Maker Lucid Cuts Production Outlook in Half | W
Media: Netflix Is Scrambling to Learn the Ad Business It Long Disdained | W
Retail: Walmart Lays Off Hundreds of Corporate Workers | W
Climate
US West, Already in Drought, Is Facing Dwindling Snowpacks | B
Technology
Battery Streak Aims to Change How Electric Vehicles Run | dot.LA
Beyond markets
Richard Clarida Returns to Pimco After Fed Cleared Him in Trading Probe | B
U.S. regulators defend requiring more data on monkeypox drug | R
