August 26 (Friday)
Latest Morning Briefing Executive Summary: Industrials, Russia & Robots
A heat wave and drought are prompting China to close some industrial plants in hard hit regions to preserve electricity for air conditioning. In Europe, some industrial plant owners are closing shop because surging electricity prices are battering the bottom line. Look for supply chain problems to ensue. The Eurozone’s August PMI took a hit. … A study out of Yale University contends Western sanctions are taking a large toll on Russia’s economy. We take a look. … North American companies bought more robots in Q1 than ever before. Here are some new ways robots are making companies more efficient today and a peek at what scientists are working on for the future. Pizza anyone?
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 22.
Markets
Dow closes 300 points higher, extends rally to second day ahead of Powell’s Jackson Hole speech | C
China Economic Stimulus Lifts Mood Ahead of Powell Speech: Markets Wrap | B
Treasury Yields Rise on Bet That Recovery Will Last Longer | W
Central banks
Fed Policy Revamp Turns Two in Jackson Hole. It’s Not Aged Well | B
Fed’s Esther George Says It Has to Get Interest Rates Higher to Slow Down Demand | B
Fed Can’t Blink After Being ‘Asleep at the Wheel,’ El-Erian Says | B
Powell isn’t likely to tell investors what they want to hear Friday | C
US I
U.S. GDP Fell Less Than Previously Thought in Second Quarter | W
US Corporate Profits Soar With Margins at Widest Since 1950 | B
US Jobless Claims August 2022: Fall for Second Week in Sign of Labor Strength | B
US economy may have actually grown in the first half of 2022 | Quartz
US II
US Mortgage Rates Soar to 5.55%, Renewing Squeeze on Homebuyers | B
Mortgage Rates Rise to Two-Month High at 5.55% | W
Teacher Shortage 2022: Why US Schools Flush With Cash Can’t Keep Up | B
Biden Student-Loan Forgiveness Raises Inflation, Budget Risks | W
China
China’s New Economic Efforts Fall Short, Economists Say | W
Geopolitics & trade
U.S., China Near Deal to Allow Audit Inspection of N.Y.-Listed Chinese Companies | W
Taiwan Proposes Big Jump in Military Spending Amid Chinese Pressure | W
Power Outage in Southern Ukraine Raises Tensions Over Zaporizhzhia Nuclear Plant | W
Industries & companies
Retail: How Whole Foods has changed in the five years since Amazon took over | C
Climate
California bans the sale of new gas-powered cars by 2035 | C
France Considers Taxing Private Jet Use in Fight Against Climate Change | W
Amazon strikes green hydrogen deal with fuel cell maker Plug Power | C
Beyond markets
Baby Formula Shortage: A Deadly Bacteria and Abbott’s (ABT) Missteps | B
