December 01 (Thursday)
Latest Morning Briefing Executive Summary: Powell, Onshoring & Tech
Reassurance from Fed Chair Powell yesterday that the Fed would proceed on its tightening course with “moderation,” to avoid setting off a recession, was music to investors’ ears—lifting stock prices and lowering bond yields. Today, we look at the words that had such a palliative effect on markets and recap Powell’s main points, especially about inflation. … Also: Rising reshoring and FDI trends suggest a revival of US manufacturing, which will benefit supply chains and labor markets. … And: Jackie examines the reasons for tech stocks’ recent malaise.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 28.
Markets
S&P 500 ends 3-day losing streak. Dow jumps 700 points after Powell signals smaller rate hikes | C
Central banks
Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December | W
Fed Chair Jerome Powell says smaller rate hikes could come in December | C
Fed’s Powell: Rate hikes to slow, but adjustment just beginning | R
US
House Approves Imposing Railroad Labor Deal, Paid Sick-Leave Measure | W
Some Rail Workers, Seeking Sick Days, Say Biden Betrayed Them | N
U.S. Economic Growth Slowed This Fall, Fed’s Beige Book Says | W
Third-Quarter U.S. Growth Was Stronger Than Previously Thought | W
Companies are cutting Zoom accounts and office space instead of jobs – Vox
China
Overseas Chinese step up protests as calls mount for change | R
China’s Covid Protests Began With an Apartment Fire in a Remote Province | W
Proud, Scared and Conflicted. What the China Protesters Told Me. | N
Industries & companies
Media: EU warns Musk that Twitter faces ban over content moderation -FT | R
Media: Disney warns restructuring could result in impairment charges | R
Tech: Mark Zuckerberg says Apple’s app store policies are not ‘sustainable’ | C
Crypto
Bitcoin Family moving more than $1 million into DEXs after FTX collapse | C
‘No Cooperation’: How Sam Bankman-Fried Tried to Cling to FTX | N
UK charity backed by Bankman-Fried sounds alarm to British regulators | C
Crypto exchange Kraken lays off 1,100 employees | C
Technology
Elon Musk’s Neuralink Hopes for Approval to Implant a Computer in a Human Brain | B
Beyond markets
Megalopolis: how coastal west Africa will shape the coming century | Africa | The Guardian
