December 06 (Tuesday)

Latest Morning Briefing Executive Summary: Earnings Matters
Industry analysts following S&P 500 companies collectively lowered their earnings sights for this year and next when they heard Q3 earnings reports. The past three weeks have brought a reprieve in the estimate cutting, but will Q4 earnings reporting season revive it? Our soft-landing economic forecast suggests forward earnings moving sideways, not dropping, through H1-2023. … Also: PMIs correlate with the growth rates of S&P 500 earnings and revenues, and the latest readings yield insights into consumer spending patterns and inflationary pressures. … And: There’s no simple rule of thumb for when to over- and under-weight stocks of various capitalization sizes, but there are specific economic conditions that can guide the decision.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on December 5.

Markets
China’s Covid Easing Fuels Stock-Market Hopes—and Fans Fears | W

Energy
Europe’s Energy Crisis Is Reshaping Geopolitics | OilPrice.com
Russian oil cap: EU ministers insist it’ll work despite Kremlin’s opposition | C
Oil Prices and Energy Stocks Are Headed in Different Directions. What Gives? | W
Renewables to be main source of electricity generation by 2025: IEA | C

US
Housing Costs, Inflation’s Biggest Component, Are Poised to Ease | W
Jamie Dimon says inflation eroding consumer wealth may cause recession next year | C
Warnock, Walker Wrap Up Senate Runoff Campaign as Georgia Voters Head to Polls | W
Inside the fight for an end-of-year deal to expand the child tax credit | Vox

Europe
Germany: EU shouldn’t borrow more to compete with U.S. green subsidies | C

China
Beijing drops COVID testing burden as wider easing beckons | R
China’s Covid lockdowns are having a lessening impact on its economy | C

Industries & companies
Airlines: United CEO says business travel has ‘plateaued’ but revenue is still rising | C
Airlines: Airlines warn of higher fares from green transition | R
Autos: Ford CEO says 65% of U.S. dealers agree to sell EVs | C
Real Estate: Investors Yank Money From Commercial-Property Funds, Pressuring Real-Estate Values | W
Retail: Inflation still a problem for Americans, Walmart CEO says | C

Corporate finance
NRG Energy to Buy Vivint Smart Home for $2.8 Billion | W
Microsoft offers Sony 10-year deal for Call of Duty on PlayStation | C