August  19 (Friday)

Latest Morning Briefing Executive Summary: Consumers, Russia & The Metaverse
With gasoline prices down in July, consumers had more money to spend on discretionary purchases, and retailers of most kinds benefited. Jackie taps Target’s Q2 results for consumer-spending trends and takeaways . … Also: Waging war in Ukraine has cost the Russian economy a great deal, but Q2 GDP contracted much less than economists expected, buoyed by the high prices that Russia’s energy exports fetched. … And: The Metaverse is hopping with diverse events—from concerts and celebrity-hosted parties to fashion shows and fine art sales. And everyone’s invited.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 15.

Markets
Wall Street Bets the Fed Is Bluffing in High-Stakes Inflation Game | W
Shares choppy, U.S. yields fall as investors digest Fed minutes | R

Central banks
Fed’s Bullard Leans Toward Favoring 0.75-Percentage-Point September Rate Rise | W

US
U.S. Home Sales Dropped in July for Sixth Straight Month | W
Home sales fell nearly 6% in July as housing market slides into a recession | C
Why the Rent Inflation Is So Darn High | MSN
Jobless claims edge lower as Fed looks to cool labor market | C
Judge Says He Will Unseal Parts of Affidavit That Led to Search of Trump’s Mar-a-Lago | W

China
China’s Scorching Heat Leads to Power Cuts, Factory Disruptions | W

Geopolitics & trade
China, U.S. Trade Climate Barbs as Ties Fray | W
North Korea Resumes Weapons Activity With Two Cruise-Missile Launches | W

Industries & companies
Financials: Bank Stocks Make a Comeback | W
Media: Americans Spent More Time Streaming Than Watching Cable TV in July—a First | W
Retail: Home Depot and Lowe’s cite strong demand, but softening could be ahead | C