January 05 (Thursday)

Latest Morning Briefing Executive Summary: China, Staples & Drones
Covid is ravaging China after the government suddenly abandoned its zero-Covid policy, leaving an under-exposed and under-vaccinated population vulnerable. Jackie reports on the tragic fallout. … The S&P 500 Consumer Staples sector was a top-performer last year, as investors viewed it as a relative safe haven. That might not remain the case given Consumer Staples’ current valuation; its forward P/E actually rose over the past two years. … And: Our Disruptive Technologies focus this week is on the drones that are starting to dot the sky and how they’ll be reshaping retailing, shipping, and war.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 3.

Markets
S&P closes higher after Fed minutes confirm inflation focus | R
The Method in the Markets’ Madness | The Atlantic

Central banks
Fed officials see higher rates for ‘some time’ ahead | C
Fed wants ‘flexibility’ on rates as inflation remains key focus, minutes show | R
Fed Minutes Show Officials Feared Markets’ Optimism Could Complicate Inflation Fight | W
Fed’s Kashkari Sees Rates Rising to 5.4% | W

Energy
Column: Europe’s gas prices slump to moderate storage build: Kemp | R

US
Job Openings Held Nearly Steady in November, Showing Still-Strong Labor Demand | W
Tax cuts and trust industries are turning US states into tax havens | Vox
Manhattan apartment sales plunge in Q4, brokers fear frozen market | C

Europe
‘Feels like summer’: Warm winter breaks temperature records in Europe | R
Snowless slopes spoil holiday skiing in Switzerland | R

Industries & companies
Autos: U.S. Auto Sales Stumble Toward Worst Annual Results in Over a Decade | W
Autos: Share of car buyers with monthly payments over $1,000 hits record high | C

Covid
Why Xi Jinping Reversed His Zero-Covid Policy in China | W
Covid news: Omicron XBB.1.5 is most transmissible subvariant, WHO says | C

NFTs
Fanatics is divesting its 60% stake in NFT company Candy Digital | C