November 19 (Saturday)

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
S&P 500 closes higher on Friday, but ends week with losses | C
Higher Rates Mean “Bonds Are Back,” JPMorgan’s Michele Says | B

Central banks
NY Fed: Bank liquidity may be tighter than thought, with policy implications | R
Fed’s Susan Collins Says Her View on Rate Hikes Unchanged by Recent Data | B

US
U.S. Home Sales Fell for Ninth Straight Month in October | W
As Republicans Take Command in House, Fight Over 2023 Farm Bill Looms | W

Geopolitics & trade
North Korea’s Kim Reveals Daughter to Public at ICBM Launch | B
Larry Summers Warns Very Risky for US to Aim at ‘Tearing China Down’ | B

Industries & companies
Airlines: What Do the Worst (and Best) Airports Look Like? Ask United Airlines | W
Autos: Tesla recalls 321,000 U.S. vehicles over rear light issue | R
Media: Musk’s Twitter Fix-It Team Fades Out as Billionaire Says Transition Is Almost Done | B
Retail: Home Depot and Lowe’s are booming in a housing market bust | C
Retail: Follow these rules from experts to get the most out of Black Friday | C
Tech: Why Everything in Tech Seems to Be Collapsing at Once | The Atlantic
Theme Parks: Disney Parks’ Ride Stoppages and Wait Times Grow as Ticket Prices Rise | W

Corporate finance
How Did AT&T’s $100 Billion Time Warner Deal Go So Wrong? | N

Climate
COP27 Agrees on Loss and Damage Fund for Vulnerable Countries, Officials Say | W

Crypto
They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire | W
FTX launches strategic review, seeks court relief to pay critical vendors | C

Beyond markets
Theranos founder Elizabeth Holmes sentenced to over 11 years in prison | C