January 19 (Thursday)

Latest Morning Briefing Executive Summary: Health Care, Going Global & ChatGPT
The S&P 500 Health Care sector sheltered investors from the ravages of last year’s bear market, but it’s been underperforming since the market began to recover in mid-October. Jackie examines why other sectors might be more alluring now and why investors are looking past meager 2023 growth prospects for select health care companies active in M&A. … Also: Why have global stocks begun outperforming US stocks? Fears not materializing in Europe and China are part of the picture, US economic uncertainty and middling earnings growth prospects are another. … And: In a world where AI programs can write like humans, what could go wrong? Plenty.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 17.

Markets
Stocks Fall After Weak Economic Data Revive Recession Fears | W
S&P 500 posts worst day in more than a month, Dow closes 600 points lower | C
Investors are holding near-record levels of cash and may be poised to snap up stocks | C
Oil Demand to Hit Record Level This Year as China Reopens, IEA Says | W
Treasury Rally Intensifies After Signs of Slowing Growth | W

Central banks
Fed policymakers call for further rate hikes to beat inflation | R
Fed’s Beige Book Says Businesses Expect Weak Growth in Months Ahead | W

US
Producer Price Increases Decelerated in December | W

Geopolitics & trade
Berlin Won’t Allow Exports of German Tanks to Ukraine Unless U.S. Sends Its Own | W

Industries & companies
Media: Disney-Peltz proxy fight: Board also light on media experience | C
Media: Marvel movies set to return to China, but Covid could hurt ticket sales | C
Tech: Microsoft to Lay Off 10,000 Workers as Slowdown Hits Software Business | W
Tech: Apple had slower headcount growth than tech peers, no layoffs yet | C

Crypto
Crypto Media Outlet CoinDesk Taps Bankers for Potential Sale | W

Beyond markets
FASB to Expand Use of Accounting Method to More Tax-Credit Investments | W