December 08 (Thursday)

Latest Morning Briefing Executive Summary: On Industrials, P/Es & Chinese Protestors
The Industrials sector is outperforming the S&P 500 despite market expectations for a recession. The sector’s exposure to airlines, the defense industry, Boeing, and General Electric may continue to support its performance into 2023. … Also: The bear market has taken a bite out of most industries’ forward P/Es, especially those involved with Information Technology or Consumer Discretionary sectors. Meanwhile, forward P/Es have expanded for select industries in the defensive Consumer Staples and Health Care sectors. … And Jackie examines how technology both helped and hurt Chinese protesters.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on December 5.

Markets
S&P 500 Notches Five-Day Losing Streak as Investors Mull Path for Rates | W
Bruising Stock Market Reversal Shows How Fed’s Pivot May Come Too Late | B
What China’s Covid-19 Reopening Means for Markets | W
Emerging Economies Have a High Default Risk in 2023 | B

Energy
Russian Oil-Price Cap Adds to Fiscal Pressure on Moscow | W

US
What’s Going On With the Housing Market? | W
Used vehicle demand and prices continue to decline from record highs | C
Long Covid Is a Threat to the Whole Economy | B
Wells Fargo, BofA CEOs say consumer demand is cooling, recession looms | C
U.S. SEC to vote on proposals that could overhaul Wall St. trading | R
Georgia Win Ends Headaches of 50-50 Senate for Democrats | W

Europe
Germany Arrests Extremists in Plot to Overthrow Government | W

China
China Scraps Most Covid Testing, Quarantine Requirements in Policy Pivot | W
‘Too many positives!’: As China rows back COVID curbs, virus fears spread | R
Rich Chinese keep spending while others cut back: McKinsey survey | C

Japan
Japan upgrades Q3 GDP as global recession, COVID risks linger | R

Geopolitics & trade
U.S., Europe Need a Grand Bargain on Semiconductors and Electric Vehicles to Counter China | W