August 29 (Monday)
Latest Morning Briefing Executive Summary: Powell’s Latest Pivot Won’t Be His Last
Keeping track of whether Fed Chair Powell is dovish or hawkish is making us dizzy. His latest clues—dropped at last week’s Jackson Hole conference—reversed the dovish impression he’d left in July that caused stocks to rally. So stocks pivoted southward last week. … We anticipate Powell’s next pivot and potentially encouraging inflation news. … Might BEA’s upcoming H1 GDP revisions reveal that the economy grew after all, making the “technical recession” illusory? We wouldn’t be surprised. We project 1.5% GDP growth during H2 and 2.5% next year. … Also: Q2 data on S&P 500 revenues and profits show new record highs for both. … And: Dr. Ed reviews “Blackbird.”
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 22.
Markets
Stocks jilted as central banks promise tough love | R
Investors Ramp Up Bets Against Stock Market as Summer Rally Fizzles | W
Dollar gains as investors brace for higher rates | R
Oil mixed as OPEC supply cut prospect offsets demand fears | R
Central banks
Powell Says Fed Must Show Resolve in Fighting Inflation | W
Powell warns of ‘some pain’ ahead as Fed fights to lower inflation | C
US
A Different Take on the U.S. Economy: Maybe It Isn’t Really Shrinking | W
Want a Lower Mortgage Rate? Take Someone Else’s Loan | W
American cities want rent control to rein in housing costs | E
Everyone’s a Landlord—Small-Time Investors Snap Up Out-of-State Properties | W
The rent crisis on Main Street just took a turn for the worse | C
High Grocery Bills Pose Liability for Democrats as Midterms Approach | W
Europe
This Income-Focused Money Manager Sees Bargains in Europe. ‘Mass Fear Is an Opportunity.’ | BR
China
How China should handle its bad loans to poor countries | E
Faced with an overseas debt crisis, will China change its ways? | E
Geopolitics & trade
What is at stake at Ukraine’s Zaporizhia nuclear plant | E
Are sanctions on Russia working? | E
Industries & companies
Aerospace: NASA’s Artemis Launch Gives Boeing Chance to Restore Its Space Credibility | W
Airlines: Airlines Keep Flight Cuts, Other Curbs as Industry Woes Drag On | W
Autos: EV makers face cash squeeze amid soaring battery, production costs | C
Materials: Alcoa Has a Plan for Zero Emissions. Buy the Stock While It’s a Bargain. | BR
Retail: Inventory Pileup, Uneasy Shoppers Put Retailers in Jeopardy | W
Climate
Beyond Drought: The Coming Water Shortage Is a Threat From Main Street to Wall Street | BR
Beyond markets
NASA’s Artemis 1 mission: What you should know about SLS, Orion | C
Why has polio returned to London and New York? | E
