September 16 (Friday)
Latest Morning Briefing Executive Summary: MegaCap-8, Strikes & Hydrogen
How the mighty have fallen. We’re talking about the eight large-capitalization stocks dubbed the “MegaCap-8,” which collectively—and most individually—have sorely underperformed benchmarks. When these behemoths swoon, most Growth portfolios feel the thud. … Also: Unions are up in arms over wages that aren’t surging as fast as inflation, and they’re feeling empowered by the tight labor market. Strikes may be coming. Jackie looks at some hot spots in various industries. … And: Don’t dismiss hydrogen as a green alternative to fossil fuels. It’s starting to look like the go-to fuel source for energy-intensive industrial processes.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 6.
Markets
U.S. Stocks Close Lower as Investors Eye Next Fed Meeting | W
Oil extends losses on recession fears | R
Dollar holds ground ahead of Fed, yuan under pressure | R
Global
World Bank sees rising risk of global recession in 2023 | R
Globalization of trade isn’t ending, despite Covid, war, inflation | C
Central banks
Opinion: 3 things the Fed needs to see before it stops hiking rates | NN
US I
U.S. Retail Sales Rose 0.3% in August, Showing Resilience in Face of Inflation | W
U.S. Jobless Claims Fell Last Week | W
US II
This is how much Social Security benefits are likely to rise next year | MSN
Mortgage Rates Top 6% for the First Time Since the 2008 Financial Crisis | W
Biden says haters won’t have ‘last word’; wants to end social media immunity | R
Europe
Households a Wild Card as Europe Moves to End Russian Gas Dependence | W
How Did Europe Stumble Into an Energy Catastrophe? (nymag.com)
China
China economy: August industrial output, retail sales | C
Japan
Japan PM’s support tumbles as anger over state funeral grows | R
Geopolitics & trade
Russia’s Vladimir Putin Says China’s Xi Jinping Raised Concerns on Ukraine War | W
Ukraine Battles Flooding After Russian Strike on Dam | W
Industries & companies
Chemicals: From Shortage to Glut: Scotts Miracle-Gro Is Buried in Fertilizer | W
Railroads: Railroads and labor unions reach tentative deal to avert strike | C
Shipping: FedEx CEO says he expects the economy to enter a ‘worldwide recession’ | C
Shipping: FedEx to Close Offices, Park Aircraft After Warning of Sales Shortfall | W
