December 15 (Thursday)

Latest Morning Briefing Executive Summary: The Fed, Consumers, China, & Fusion
FOMC sees rates headed higher for longer, but a soft economic landing remains in the cards. …. The Consumer Discretionary sector stands to profit from the drop in prices for gas, cotton, and shipping on the high seas. Lower inflation and higher wages should help, too. ….  China’s politicians may hope eliminating zero-Covid policies will boost the nation’s economy. But the likely surge of Covid cases may prompt citizens to enter self-imposed isolation. …. Scientists reported a great advancement in nuclear fusion. But expect many more years of development before we’ll know if fusion will become an economically feasible way to generate carbon-free electricity.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on December 12.

Markets
Chinese firms avert delisting risk as U.S. watchdog gets ‘full access’ in audit inspections | R

Central banks
Jerome Powell’s Grim Inflation Outlook Is at Odds With Markets | W
Fed Raises Rate by 0.5 Percentage Point, Signals More Increases Likely | W
ECB slows rate hikes, says inflation fight must go on | R
ECB hikes rates, sees significant increases ahead as it announces plan to shrink balance sheet | C

Energy
Germany’s half-a-trillion dollar energy bazooka may not be enough | R
Aramco and TotalEnergies to build $11 bln Saudi petrochemicals plant | R

US
Retail sales November 2022: Sales fall 0.6% as consumers feel pressure from inflation | C
U.S. retail sales post biggest drop in 11 months; labor market tight | R

China
China’s Leaders Plot Pivot Back Toward Boosting Economy | W

Geopolitics & trade
Exclusive: The global supply trail that leads to Russia’s killer drones | R

Industries & companies
Airlines: American Airlines frequent flyer reward changes make it harder to earn | C

Crypto
Binance CEO brushes off $2.1 billion FTX clawback concerns | C