October 28 (Friday)

Latest Morning Briefing Executive Summary: China and Semiconductors
Today, our focus is the semiconductor and semiconductor equipment manufacturing industries, both down on their luck these days. The US Commerce Department has barred the door to one of their major markets, China. Yet the CEOs have been curiously acquiescent. … Jackie examines the administration’s possible motivations and the impacts on specific players in the space. … This bad news couldn’t have hit at a worse time: The semiconductor cycle may be heading south. Earnings estimates have been getting slashed and stocks battered.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on October 24.

Markets
Why Stock Multiples Say the Market Could Continue to Drop | Morningstar
The bear hasn’t broken passive yet | FT

Central banks
ECB Raises Rates by 0.75 Point to Highest in More Than a Decade | W
Japan to keep ultra-low interest rates, defy global tightening trend | R

US
U.S. Mortgage Rates Top 7%, Highest in More Than 20 Years | W
U.S. Economy Grew 2.6% in Third Quarter, GDP Report Shows | W
U.S. economy rebounds in Q3 on boost from trade, but demand stalling | R
Analysis: How Congress might look for Biden post midterms: The good, bad, and the ugly | R
Trump loses court bid to block Congress from getting tax returns | C
 
Geopolitics & trade
Inside the Secret Prisoner Swap That Splintered the U.S. and China | W

Industries & companies
Consumer Discretionary: Amazon predicts sales growth slowdown for holidays, crushing shares | R

Technology
Amazon to open Kuiper internet satellite factory | C
 
Beyond markets
Buffalo Bills unveil first design images of their new $1.4 billion stadium | C