November 17 (Thursday)
Latest Morning Briefing Executive Summary: On Consumers, Chips & The Oceans
Consumers are still spending robustly in many categories, as the surprisingly strong retail sales report for October showed. But Walmart and Target brass speaking on Q3 conference calls described heightened budget consciousness across income demographics. And while consumers have income, their balance sheets have been weakening as they take on more debt. … Are semiconductor stocks becoming attractive at their depressed valuations? Perhaps, but news this week reminds us why valuations are so depressed—demand is weak and analysts pessimistic. … Also: The oceans are about to get greener if innovative solutions employing AI, 3D printing, and low-tech dragnets succeed.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 15.
Markets
Stocks Slip After Retail Sales Top Forecasts | W
Central banks
Reducing Inflation Without a Recession Might Not Be Feasible, Fed Official Says | W
Fed’s Waller says he’s open to a half-point hike at December meeting | C
Yellen Meets China’s Central Bank Governor as U.S. Seeks to Repair Ties With Beijing | W
US
U.S. Consumers Show Strength With Jump in Retail Sales | W
Republicans win U.S. House majority, setting stage for divided government | R
How to stop inflation | WT
Industries & companies
Autos: Elon Musk Recently Floated Possibility of Having a Successor at Tesla, a Board Member Says | W
Home Builders: Home-Builder Stocks Stage Big Rebound | W
Tech: Micron to Cut Production of Memory Chips | W
Theme Parks: Disney World Announces Another Round of Price Increases | W
Geopolitics & trade
Missile Blast in Poland Risked Russia-NATO Clash Before Both Sides Dialed Back | W
Targeting of Ukrainian energy grid is a war crime, Pentagon says | C
Putin calls for price controls as Russian car sales crash to record low | R
Analysis: China’s freeze on Taiwan contact fuels worry as tensions build | R
Crypto
Gemini, BlockFi, Genesis announcing new restrictions as FTX contagion spreads | C
Sam Bankman-Fried, FTX, and the beginning of the crypto ice age | Vox
FTX wanted to let investors borrow to trade derivatives: CFTC head | C
How Sam Bankman-Fried’s FTX-Alameda crypto empire vanished overnight | C
Beyond markets
ESG: BlackRock’s Hard Place | National Review
