September 03 (Saturday)
Latest Morning Briefing Executive Summary: China, Earnings & FedNow
China’s government is mobilizing to shore up the country’s struggling, debt-laden economy. New initiatives will facilitate home-buying, guarantee the debt of select private developers, make low-interest loans to banks, and provide financial backing for infrastructure projects. More may be needed. … Industry analysts still expect S&P 500 companies to log respectable earnings growth this year and next despite having lowered their sights for many. Jackie examines how and why estimates have been changing for various sectors and industries. … And better late than never: FedNow brings the instantaneous financial transactions that other countries enjoy to the US.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 29.
Markets
Major stock averages slide for third week, Nasdaq posts six-day losing streak | C
Bond Yields Fall on Higher August Unemployment | W
Energy
Russia scraps gas pipeline reopening, stoking European fuel fears | R
Russia to Keep Nord Stream Pipeline Shut, Citing Mechanical Problems | W
Factbox: Europe’s alternatives if Russia shuts off gas supply | R
US I
August Jobs Report Shows Labor Market Has Cooled But Remains Solid | W
Wage Gains Ease as More Americans Join the Labor Force | W
The Americans Who Never Went Back to Work After the Pandemic | W
How ‘quiet quitting’ became the next phase of the Great Resignation | C
More home sellers drop their asking price as the housing market cools | C
Rising Mortgage Rates Complicate Decision on Buying Versus Renting | W
US II
Opinion: This is what will prevent stagflation from hitting the US economy | NN
1970s inflation: Historian Niall Ferguson has a warning for investors | C
Recession or Not, There Will Be Pain | Morningstar
Traveling for Labor Day? Expect Busier Airports, More Traffic Than Last Year | W
China
China’s Economy Won’t Overtake the U.S., Some Now Predict | W
Geopolitics & trade
U.S. approves potential $1.1 billion arms sale to Taiwan amid China tensions | R
Industries & companies
Airlines: Your Flight Is Canceled. See What Each Airline Is Supposed to Offer You. | W
Autos: Ford’s U.S. Sales Rose 27% in August on Strong EV Demand | W
Materials: Column: European smelter closures fracture aluminium pricing | R
Materials: This Remote Mine Could Foretell the Future of America’s Electric Car Industry | N
Utilities: Jackson Water Crisis Forces Cities to Confront Their Own Aging Infrastructure | W
Corporate finance
CVS Is in Advanced Talks to Buy Signify Health for Around $8 Billion | W
Greek yogurt maker Chobani pulls IPO amid listing slowdown | R
Technology
Latest U.S. Chip Curbs Deliver Setback to China’s AI Ambitions | W
Beyond markets
NASA Poised for Second Artemis Launch Attempt Saturday | W
White House Seeks $47.1 Billion to Fight Covid and Monkeypox, Aid Ukraine | W
