December 05 (Monday)
Latest Morning Briefing Executive Summary: Don’t Stop Thinking About Tomorrow
We’ll be glad to put this year behind us—pessimism reigned as inflation raged, the Fed tightened, and investors revalued stocks downward. But the resultant bear market was a mild one as bear markets go. If it ended on October 12, as we believe, the S&P 500 actually was in bear-market territory—down more than 20%—for only 45 days of the 282-day span. … Next year, the economic backdrop should be more bullish as inflation moderates and rising wages outpace rising prices. We expect a soft landing, not a recession. … Longer term, we stand by our “Roaring 2020s” thesis, anticipating that labor shortages and technological advances will unleash a productivity boom.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 28.
Markets
Dow Shines as Higher Rates Squeeze Nasdaq’s Tech Stocks | W
Small-Cap Stocks Are Some of the Best Buys in the Stock Market | BR
China’s Stock Market Is Seeing a Rebound. But It Might Not Last Long. | BR
Bonds Are Primed for a Better 2023, but How Much Better? | W
Central banks
A Central Bank That Raised Rates Early Now Talks Up Recession | W
The Fed’s path to a ‘Goldilocks’ economy just got more complicated | C
Energy
OPEC+ keeps steady policy amid weakening economy, Russian oil cap | R
OPEC+ Keeps Oil Curbs Despite Russia Price Cap | W
OPEC+ meeting: Oil producer group in focus ahead of Russia sanctions | C
Russia will not export oil subject to Western price cap, deputy prime minister says | R
US
Economists Think They Can See Recession Coming—for a Change | W
Is the Housing Market Headed for a Big Crash? What’s Ahead for Real Estate. | BR
Employers Try to Hold Line on Wages, With Mixed Success | W
Companies need to increase salary transparency or workers will quit | C
China
Manufacturing orders from China down 40% in demand collapse | C
China Loosens Covid Restrictions as Public Anger Simmers | W
Chinese cities ease curbs, full zero-COVID exit seen some way off | R
Xi Jinping’s zero-covid policy has turned a health crisis into a political one | E
The protests in China may change the way Xi Jinping runs the country, says Minxin Pei | E
The Chinese government exercises control through local busybodies, explains Lynette H. Ong | E
Geopolitics & trade
U.S. intel chief on Russia using up ammunition in Ukraine | C
Chinese Solar Manufacturers Dodged U.S. Tariffs, Probe Finds | W
Poor Countries Feel Sting of Local-Currency Debt | W
Industries & companies
Airlines: Delta pilots would get more than 30% in pay raises under new contract deal | C
Housing: The Housing Boom Is Over. But Housing Stocks Could Still Be Winners. | BR
Media: Who will be Disney’s next CEO? Top contenders to succeed Bob Iger | C
Tech: Apple Makes Plans to Move Production Out of China | W
Tech: Business-Software Companies Say Customers Are Pulling Back Amid Economic Concerns | W
Crypto
Can You Buy Bitcoin Without an Exchange Like FTX? We Tried. | BR
FTX Founder Sam Bankman-Fried Says He Can’t Account for Billions Sent to Alameda | W
Clashes Over FTX Bankruptcy Go Global | W
Beyond markets
Parents Who Share Info About Their Kids Online Are a Cybersecurity Risk. Here’s Why. | W
Billions in Covid Aid Went to Hospitals That Didn’t Need It | W
