January 02 (Monday)

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
The Year Big Tech Stocks Fell From Glory | W
For U.S. Stocks, 2022 Is a Year With Almost No Record Highs | W

Central banks
The year of the rate shock | E
Retiring Fed President Challenged the Consensus Inside Central Bank | W

US
Robust Job and Wage Growth Showed Signs of Cooling in Late 2022 | W
Large Pay Gains Outpace State Minimum-Wage Boosts for Many Workers | W
These states are raising their minimum wages in 2023. Chart shows where workers can expect higher pay | C
As Infrastructure Windfall Approaches, Transit Agencies Grapple With How to Spend It | W
Beware of expanding the earned income tax credit | The Hill

China
Some in China return to regular activity after COVID infections | R
Chinese Factories, Restaurants Adjust to Life Without Zero-Covid | W
China December manufacturing contracts sharply as COVID infections soar | R
China’s home prices fell at an accelerating rate in December, survey shows | C
Column: China draws in aluminum as domestic output shrinks | R
Column: Key coal import hubs in China perk up as economy reboots | R

Emerging
India’s factories ended 2022 on a strong note | R

Geopolitics & trade
Global Trade Is Shifting, Not Reversing | W
Yoon says South Korea, U.S. discussing exercises using nuclear assets | R
North Korea’s Kim orders ‘exponential’ expansion of nuke arsenal | C

Industries & companies
Autos: Shift to EVs Triggers Biggest Auto-Factory Building Boom in Decades | W
Tech: The Year Big Tech Stocks Fell From Glory | W

Crypto
What’s Behind Fidelity’s Bitcoin Plans? It May Be Fear of Missing Out. | BR
 
Covid
Highly immune evasive omicron XBB.1.5 variant is quickly becoming dominant in U.S. as it doubles weekly | C