December 16 (Friday)

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
Dow Falls More Than 700 Points on Interest-Rate Expectations | W
Stock Market Traders Discover That Bad News Is Bad After All | B
The Markets Don’t Believe the Fed | W

Energy
Keystone pipeline break spilled diluted bitumen, complicating cleanup | R
Column: China boosted crude oil storage even as refiners processed more | R
California lowers solar energy incentives for homeowners | C
 
Central banks
How rules-based Fed policy can reduce recession risk and fight inflation | The Hill
How the Federal Reserve flawlessly curbed inflation in the ’90s – Vox

US
Retail Sales, Manufacturing Declines Point to Slowing Economy | W
Home flipping profits drop at fastest pace in over a decade | C
Senate Passes $858 Billion Defense-Policy Bill | W
Trump vows free speech reform of government, universities, tech | C

Europe
Is Europe’s Energy Crisis Actually A Boon? | OilPrice.com
EU Greenlights 15% Corporate Minimum Tax, Advancing Global Deal | W

Geopolitics & trade
U.S. Regulator Says It Has Access to Audit Papers of Chinese Companies | W
U.S. slaps restrictions on Chinese chipmaker, other companies over national security | C

Industries & companies
Airlines: The Bleisure Traveler—Coming to the Rescue of Airlines Everywhere | W
Healthcare: How a Sprawling Hospital Chain Ignited Its Own Staffing Crisis | N

Crypto
Sam Bankman-Fried’s Parents Under Scrutiny in FTX Collapse | N
Binance CEO brushes off $2.1 billion FTX clawback concerns | C

Beyond markets
Covid news: Most nursing home residents have not received omicron booster | C