November 16 (Wednesday)
Latest Morning Briefing Executive Summary: On Inflation & Financial Stability
The inflation-is-peaking euphoria that’s driven the stock market skyward in recent days adds to our confidence that the bear market bottomed on October 12. … The latest batch of inflation indicators was mixed but overall suggests progress in the right direction, which may mean the Fed has done enough tightening already. … Don’t fear systemic effects from the bursting of the cryptocurrency bubble—US banks are just fine. … Also: Melissa examines what the Fed thinks about the resilience of the US financial system, recapping points from its latest Financial Stability Report.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 15.
Markets
S&P 500 closes higher after another lighter-than-expected inflation report, Nasdaq jumps 1.4% | C
Wall Street gains on inflation data, but rocky on geopolitics | R
Central banks
Banking giants and New York Fed start 12-week digital dollar pilot | R
Energy
Russian Oil Exports Hold Up Despite Impending EU Ban | W
Half of France’s Nuclear Plants Are Off-Line | N
US
U.S. Supplier Price Increases Eased in October, Taking Pressure Off Inflation | W
Mortgage Rates Are High Because Nobody Is Buying Mortgages | W
Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says | C
Republicans on Verge of Retaking House as Counting Continues | W
As Trump readies possible 2024 White House run, GOP megadonors back DeSantis, Youngkin, other Republicans | C
Uncle Sam is playing the same game as broke, disgraced crypto king | P
Gen Z Really Does Have It Harder Than Millennials | Manhattan Institute
China
China’s Economy Takes a Deeper Hit as Retail Sales Turn Negative | W
Japan
Japan’s Economy Shrinks Unexpectedly, Hit by a Weak Yen and Rising Inflation | N
Geopolitics & trade
Biden-Xi Talks Mark Shift in U.S.-China Ties Toward Managing Fierce Competition | W
The U.S.’s Struggle to Wean Itself From Chinese Solar Power | W
G20 Leaders Meet in Bali as Global Economy Faces Multiple Threats | N
Poland says a Russian-made missile fell inside their country, killing 2 | C
Industries & companies
Autos: Consumer Reports: New technologies make EVs less reliable | C
Autos: Tesla cuts delivery waiting time for all model 3, model Y cars | R
Autos: Musk’s all-nighters at Twitter raise concern for Tesla investors | R
Autos: Ford says making its own parts for electric vehicles could offset job losses | C
Retail: Walmart Sales Rise as Retail Giant Gains More Shoppers | W
Tech: Tech stocks have been crushed. What’s next for the FAANGs? | NN
Tech: Microsoft, Meta, others face rising drought risk to their data centers | C
Corporate finance
Estée Lauder Agrees to Buy Tom Ford Brand in $2.8 Billion Deal | N
FTX
How Sam Bankman-Fried’s FTX-Alameda empire vanished overnight | C
FTX Founder Sam Bankman-Fried Attempts to Raise Fresh Cash Despite Bankruptcy | W
FTX’s Collapse Casts a Pall on ‘Effective Altruism’ Movement | N
Fed’s Michael Barr Says Crypto Turmoil Highlights Potential Risks to Financial System | W
Climate
New Climate Early Warning System Aims to Plug Weather Blind Spots Around the World | W
