September 21 (Wednesday)
Latest Morning Briefing Executive Summary: On Earnings & Central Banks
S&P 500 forward earnings works well as a leading indicator of actual results during expansions and a coincident indicator of them during recessions; the same goes for forward revenues and forward profit margins. … Our takeaways from the three forward data series add up to a flat forward earnings outlook through early next year—a rosy viewpoint amid widespread recession trepidation. Our forward earnings and P/E forecasts together suggest a range-bound S&P 500 for the rest of this year. … Also: Melissa ferrets out the policy intentions of the ECB and BOJ.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 19.
Markets
S&P 500 History Points to a Sharp Bounce After Fed Meeting | B
Why Index Funds Could Fade | BR
Woke Wall Street is in for a reckoning | FO
High Natural-Gas Prices Push European Manufacturers to Shift to the U.S. | W
Central banks
Fed expected to hike rates by three-quarters of a point again, but its forecast may matter most | C
‘Rip off the Band-Aid’: Wells Fargo makes case for 150 basis point hike at Fed meeting | C
US
Climbing Housing Costs Could Prop Up Inflation for a While | W
August Home-Sales Report Comes as Mortgage Rates Rise | W
Mortgage demand rises for the first time in six weeks, despite sharply higher interest rates | C
The puzzling disconnect between production and employment | Hill
Democrats’ push for guaranteed income is a slap in the face to working people | P
Food Supply Stays Tight as Disappointing U.S. Harvest Adds to Global Challenges | W
China
China’s Vast 14,000-Bed Covid Isolation Center Revealed in Drone Footage | B
Geopolitics & trade
Putin accuses West of ‘nuclear blackmail’, mobilises more troops for Ukraine | R
Germany nationalizes energy giant Uniper as Russia squeezes gas supplies | C
European businesses are rethinking their plans for a ‘closed’ China | C
Industries & companies
Airlines: American Airlines will add new premium suites in 2024 in race for high-paying travelers | C
Autos: Ford stock suffers worst day since 2011 after cost warning, shedding $7 billion in market value | C
Technology
Watch Regent take its prototype electric seaglider out for a test flight | C
The robots are here. And they are making you fries. | WP
