August 31 (Wednesday)
Latest Morning Briefing Executive Summary: Earnings Matter
Will the rolling recession—which we believe is occurring now in the US economy—steamroll corporate earnings growth? Our economic outlook suggests that earnings growth could turn negative, but not by much and not for long. … We think August’s M-PMI will be telling, suggesting that both this index and S&P 500 earnings growth are getting closer to bottoming. … And: Melissa looks under the hood of the auto manufacturing industry, still challenged globally by parts-supply problems and still short on inventory. … Also: A look at various factors driving rising EV sales.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 29.
Markets
Column: RIP Great Moderation, hello Great Volatility | R
Column: Diverging U.S. corn and soybean yields would be a rare outcome | R
Central banks
Powell Abandons Soft Landing Goal as He Seeks ‘Growth Recession’ | B
Fed’s Mester sees benchmark rate above 4% and no cuts at least through 2023 | C
Fed’s John Williams Says Rates Will Stay High for a While | W
Fed Gets New Path to Go Big as Job Openings, Confidence Surprise | B
Federal Reserve Quantitative Tightening Fallout Should Be Limited | B
Energy
Russia temporarily halts gas flows to Europe via Nord Stream 1 | C
Russia deepens Europe’s energy squeeze with new gas halt | R
Analysis: Full gas storage no fix for Europe’s winter energy crunch | R
Japan’s Kishida Says He Wants to Reduce Reliance on Nuclear Power as Much as Possible | W
Column: Saudi jawboning up crude oil prices contrasts with soft physical market | R
US
U.S. Job Openings Rose in July as Hiring Accelerated | W
Home-Price Growth Decelerated in June | W
Mortgage demand falls even further, as rates shoot back up to July highs | C
US Life Expectancy Falls as Covid Takes Their Toll on The Population | B
Women Not Having Kids Get Richer Than Men | B
Trump Mar-a-Lago raid: DOJ opposes special master request | C
Europe
Euro zone inflation hits another record of 9.1% as food and energy prices soar | C
Inflation Tops 9% in Eurozone, Piling Pressure on Policy Makers | W
China
China is set to convene a historic meeting on Oct. 16. Here’s what to expect | C
China’s True Elite
Geopolitics & trade
Biden Still Undecided on Chinese Tariffs, Commerce Secretary Says | W
Industries & companies
Communications services: Social-Media Firms Would Have to Consider Children’s Health Under Bill Passed by California Legislature | W
Corporate finance I
Bosch $200 million investment fuel cells South Carolina | C
Toyota says it will invest extra $2.5 billion in North Carolina plant | C
Toyota to Put Additional Billions of Dollars Into EV Batteries | W
Corporate finance II
Bed Bath & Beyond announces store closures, layoffs and new financing in push to fix struggling business | C
Buyback Tax Will Distort Capital Markets & Hurt Smaller Companies | NR
Technology
Autonomous delivery company Gatik wins new pilot program with Pitney Bowes in Dallas | C
Beyond markets
NASA to Try Artemis I Moon Launch Again on Saturday | W
Ukraine’s Overstretched Psychiatric Hospitals Face Wave of Traumatized Soldiers | W
