August  23 (Tuesday)

Latest Morning Briefing Executive Summary: Raging Debate
Today, we examine stock market sentiment—where it’s been this year and why, as well as where it might be headed. … The bulls had a good two-month run, for a host of reasons we discuss, but it might be ending as they go on the defensive for a while for a host of other reasons. … And: QE lifted the Fed’s securities holdings and the stock market followed suit during the bull market years. But does that necessarily mean the opposite will happen when QT starts to unwind those holdings in September? The bears think so, but we see reasons to differ.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 22.

Markets
Dow falls 600 points, heads for worst day since June as the market’s summer rally flails | C
Wall Street tumbles on fears of aggressive Fed | R

US
U.S. business borrowing for equipment rises 2% in July – ELFA | R
US Housing Market: Jump in New Apartment Construction May Ease Pressure on Rents | B
Cheap Homes? House Prices Are Being Slashed In Former Pandemic Boomtowns | B
Companies Are Cutting Back on Maternity and Paternity Leave | W
Trump PAC paid lawyers almost $1 million amid Georgia, New York probes | C

Europe
Europe braces for more cuts in Russian oil and gas exports | R

Geopolitics & trade
Crimea, Once a Bastion of Russian Power, Now Reveals Its Weakness | W

Industries & companies
Autos: Ford Stock Falls After $1.7 Billion Verdict in Fatal Rollover Case | W
Autos: Ford to eliminate 3,000 jobs in an effort to cut costs | C
Communications services: Should we break up Facebook to save it? | The Hill
Tech: Apple self repair service expands to MacBooks starting Tuesday | C

Corporate finance
Where have the unicorns gone? The IPO window has slammed shut | NN
IPO Market Faces Worst Year in Two Decades. ‘Really Hard Pill to Swallow.’ | W

Pandemic
Fauci, face of U.S. COVID response, to step down from government posts | R
Pfizer asks FDA to authorize Covid booster shots that target omicron BA.5 for people ages 12 and older | C
Polio Vaccines Are Urged in New York as Once-Defeated Virus Lurks | W

Beyond markets
Why Tom Brady and other stale celebs keep pretending to retire | P