August 10 (Wednesday)
Latest Morning Briefing Executive Summary: Earnings & Productivity
Why are industry analysts now slashing the estimates they had raised throughout the year’s first half (even as the economy slowed)? … Why has productivity growth dropped to its weakest y/y rate since 1947? Is it simply returning to its pre-pandemic trendline? … Why has household formation suddenly rebounded? … How did landlords get so lucky as to find themselves in a “Golden Age”? … Today, we explain these economic anomalies, aided by recent data releases. … Also: With the economy in a growth recession and forward earnings starting to flatten, the valuation-led stock market rally might sputter for a while.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 8.
Markets
Tech Stocks Lead Market Lower as Investors Await Inflation Data | W
Strategists Under the Same Roof Clash on Stock Market Before US CPI Data | B
U.S. Lawmakers Look to Digital Dollar to Compete With China | W
US I
How This Economic Moment Rewrites the Rules | N
Rapid Wage Growth Keeps Pressure on U.S. Inflation | W
Eggs Prices in US Jump 47% as Food Inflation Soars, IRI Says | B
U.S. Productivity Falls for Second Straight Quarter | W
With 87,000 new agents, here’s who the IRS may target for audits | C
US II
Congress needs to take its role in inflation seriously | The Hill
Biden needs to stop stock trading in Congress | MSNBC
FBI Search of Trump Property Prompted by Concerns Over Sensitive Documents | W
Geopolitics & trade
War between China and Taiwan would create global chaos | Washington Times
War Game Finds U.S., Taiwan Can Defend Against a Chinese Invasion | W
U.S. Solar Shipments Are Hit by Import Ban on China’s Xinjiang Region | W
Industries & companies
Autos: Ford increasing price of electric F-150 Lightning | C
Technology
Chip Makers Expect Demand Slowdown to Expand Beyond PCs, Smartphones | W
Beyond markets
FDA Adopts Policy to Stretch Monkeypox Vaccine Supplies | W
U.S. allows alternate monkeypox vaccine injection method to boost supply | R
