August 16 (Tuesday)
Latest Morning Briefing Executive Summary: Why Are Oil Prices Falling?
Wondering what brought the price of gasoline and other petroleum products back down toward earth in recent weeks? Our data show it’s not Biden’s release of crude oil reserves but the effects of previously soaring prices—which depressed demand and sparked production—combined with China’s economic slowdown. … Speaking of which: Just when we thought the much-anticipated recession would be a no-show like Godot, he was spotted in China and maybe New York too. Might the US be in for a “rolling recession” à la the 1980s?
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 15.
Markets
Stocks Extend Winning Streak | W
Wall Street climbs, adding to recent gains as megacaps rise | R
Investors Are Betting Yet Again That Inflation Will Cool | W
Gold Holds Decline as Dollar Reigns Amid Concerns Over Slowdown | B
Central banks
Federal Reserve Can Fight Recession With Lessons from Its Past | B
Goldman sees a ‘feasible but difficult path’ for the Fed to defeat inflation without a recession | C
Federal Reserve Finalizes Guidelines for Access to Its Payment Systems | W
US
U.S. is in housing recession, homebuilders say | C
Stores, suppliers fight over price hikes as inflation squeezes shoppers | C
Biden’s created our bad new normal, and he’s loving it | P
What Democrats’ call for Social Security reform means for benefits | C
China
China’s Growth Slowed Across All Fronts in July, Prompting Unexpected Rate Cut | W
China Needs More Stimulus to Boost Economy, PBOC Paper Says | B
China pares back holdings of U.S. Treasuries for 7th month | R
Geopolitics & trade
Ukraine calls on world to ‘show strength’ after shelling near nuclear plant | R
What a Chinese Blockade of Taiwan Would Mean for Global Business | W
China Restarts Military Drills in Response to Latest U.S. Lawmakers’ Visit to Taiwan | W
NYSE delistings signal Beijing may be willing to compromise on U.S. audit dispute -analysts | R
Industries & companies
Airlines: This is a great time to be an airline. It’s the worst time to be a passenger | NN
Airlines: Why Is Airline Travel So Miserable? Blame Florida | W
Autos: SoftBank-backed Ola Electric wants to launch India-built EV in 2024 | C
Pharma: Newly-launched U.S. drugs head toward record-high prices in 2022 | R
Retail: Walmart enters streaming deal with Paramount+ in race with Amazon | R
Tech: Apple tells employees to come in 3 times a week starting September | C
Corporate finance
Stock Buybacks and Dividends Become a $1.5 Trillion Political Target | N
Dan Loeb’s Third Point Calls for Disney to Spin Off ESPN, Refresh Board | W
Climate
South, Midwest will see worst increases in extreme heat by 2053 | C
The Basic Math Problem that Undoes Global Warming Hysteria | American Thinker
Beyond markets
For Rent: 327 Square Foot Apartment With 5 Rooms—Thanks to Robot Furniture | W
