August 20 (Saturday)
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
Stocks Slide as Short-Sellers Cash In on Fedspeak: Markets Wrap | B
Column: Stocks rebound shows the devil in the retail | R
US I
If the Economy Is Shrinking, Why Is Everything Going Gangbusters? | B
‘The Godfather’ Insight: Oil Prices Have Been Driving Markets All Along | B
Jobless Rate Drops to or Below 3% in Almost Half of US States | B
America’s small businesses are running out of workers | NN
What Is Quiet Quitting? Is It a Good Idea? Pros and Cons of Latest TikTok Trend | B
US II
Inflation peaking? 10 common consumer items where prices are falling | C
Gen Xers are cutting spending, continue to save for retirement, study says | C
Can’t Afford Rent? College Students Tap Parents, Buy RVs for Housing | B
Opinion | California Needs More Housing. Unions Might Stand in the Way. | N
US III
U.S. Treasury disputes finding that new IRS funding would increase middle-class taxes | R
Five ways the Inflation Reduction Act will reduce business owners’ taxes | The Hill
Geopolitics & trade
Russia to Halt Nord Stream Gas Flows to Europe, Citing Pipeline Maintenance | W
Ukraine’s Southern Forces Wage a Slow Campaign to Wear the Russians Down | W
China’s Xi Considers Visiting Central Asia, Potential Meeting With Putin Next Month | W
Industries & companies
Materials: Column: Power is the big new problem for industrial metals supply | R
Media: Regal Owner Cineworld Nears Bankruptcy as Theater Comeback Lags | W
Beyond markets
Northern Lights Will Be Visible in Parts of Mainland U.S. This Week | W
Monkeypox Virus Can Stay on Common Household Items, Surfaces, CDC Says | B
It Now Costs $300,000 to Raise a Child | W
