January 07 (Saturday)
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
Dow Closes 700 Points Higher On Signs of Slowing Wage Growth | W
Stocks stage first big rally of 2023 as hope grows that inflation will ease, Dow closes up 700 points | C
Signs of Seller Exhaustion Left Stocks Primed for a Big Bounce | B
Central banks
Strong Jobs Report Doesn’t Resolve Fed Debate on Next Rate Rise | W
Fed’s Barkin and George Say Inflation Fight Isn’t Over Despite Promising Signs | W
Raphael Bostic says Fed needs to ‘stay the course’ despite lower wage gains | C
Fed Official Says Inflation Remains Too High | W
US I
Hiring, Wage Gains Eased in December, Pointing to a Cooling Labor Market in 2023 | W
U.S. jobs report breathes life into Fed’s ‘soft landing’ scenario | R
December’s jobs report fuels optimism that the economy could still pull off a soft landing | C
U.S. labor market powers ahead, but wage growth loses steam | R
Here’s where the jobs are for December 2022 — in one chart | C
US II
December Jobs Report Offers Good News: Easing Wage Pressures, Healthy Economy | Morningstar
Egg Price Relief Coming as US Demand Softens in Wake of Shortage | B
What the Federal Trade Commission’s move to ban noncompetes could mean for the US workforce – Vox
And Just Like That, America Becomes More Rural | W
Europe
Sliding Natural-Gas Prices Deal Surprise Reprieve to Europe | W
Warmer Weather Helps Ease Europe’s War-Driven Inflation Surge | W
China
China’s Deep-Pocketed Tourists Are Staying Home, For Now | B
Geopolitics & trade
Russia Ukraine war: U.S. announces aid to Ukraine, European allies | C
Industries & companies
Consumer Discretionary: Amazon ‘fully committed’ to Alexa despite layoffs, hardware chief says | C
Pharma: FDA approves Alzheimer’s drug that slowed cognitive decline in clinical trial | C
Retail: Macy’s warns holiday-quarter sales will come in light | C
Corporate finance
Party City (PRTY) Nears Bankruptcy That Could Hand Reins to Creditors | B
Covid
New Covid-19 Subvariant, XBB.1.5, Takes Over in Parts of U.S. | W
Exclusive: China in talks with Pfizer for generic COVID drug | R
China’s New mRNA Covid Vaccine Targeting Omicron Starts Trial Production | W
Opinion | America’s Covid Test Requirement For Chinese Is a Farce | N
