October 29 (Saturday)

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
Dow closes 800 points higher on Friday, registers fourth straight week of gains | C
Dow Jumps More Than 800 Points as Apple Gains 7.6% | W
Why the Most Common Gas Price Is Far From Average | W

Central banks
U.S. data brings some encouraging signs for inflation-weary Fed | R
Opinion | The Federal Reserve deserves a new variation on the Peter Principle | WP

Global
International Discord Undercuts Global Growth, Worsens Inflation | W

US
U.S. Wages Rose Rapidly in Third Quarter, Keeping Pressure on Inflation | W
U.S. pending home sales tumble in September | R
Consumer Spending Rose in September as Prices for Rent, Transportation Increased | W
Rise in U.S. consumer spending beats expectations; wage inflation slows | R
Credit-Card Debt Returns to Levels Before Covid-19 Pandemic | W
Opinion | Republicans Have No Inflation Plan | N

Europe
Discontent Rises in Europe as Economic War With Russia Pushes Up Cost of Living | W

China
China Nods to Even Tighter Ties With Russia in Xi Jinping’s Third Term | W
Shanghai Disneyland reduces operations as China tightens COVID curbs | R

Japan
Japan Is the One Place Where Inflation Might Be About Right | W

Geopolitics & trade
Star Economist Roubini on the Global Crises: “World War III Has Already Effectively Begun”
Iranian Drones in Ukraine Project Tehran’s Power Beyond Mideast, Testing U.S., Europe | W
U.S. says North Korea policy unchanged after nuclear remark raises eyebrows | R
UN report: Accounts of rape, torture and executions by Russian troops | C

Industries & companies
Communications Services: GM temporarily suspends advertising on Twitter following Musk takeover | C
Energy: Exxon Hits Record Profits Again as Oil Industry Sees Banner Quarter | W

Beyond markets
Flu Hospitalizations Hit Decade-Plus High for October | W
FDA sees limits to omicron-booster studies from Columbia, Harvard | C
Paul Pelosi, Husband of House Speaker Nancy Pelosi, Attacked in San Francisco Home | W