January 24 (Tuesday)

Latest Morning Briefing Executive Summary: Market Timing
Both the stock market’s and the bond market’s October bottoms have held so far—following the script we outlined as a possibility back that month. It involved moderating inflation, which we’ve seen, an end to Fed tightening, which we should see soon, and better GDP growth than we had expected, i.e., no landing so far. On the other hand, yesterday’s LEI report suggests a hard landing, while the CEI suggests a soft landing. … Also: We share insights from market maven Joe Feshbach, who notes some auspicious signs in measures of breadth. … And: We look at some total-return statistics to emphasize the importance of dividends to returns.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on January 23.

Markets
Column: Funds bet heavily on U.S. curve steepeners | R

Central banks
ECB Will Stay Course to Return Inflation to 2%, Christine Lagarde Says | B

Commodities
Column: Power problems rein in global aluminum output growth | R

US
Tax season kicks off as IRS begins to deploy $80 billion in funding | C
$9B plunge in NYC real estate sets up brutal political fight | P
Debunking gas versus electric stoves misinformation | Vox

Emerging
India’s 1.4 Billion Population Could Become World Economy’s New Growth Engine | B

Geopolitics & trade
U.S. Weapons Industry Unprepared for a China Conflict, Report Says | W
Berlin not blocking export of tanks to Ukraine, EU diplomat says | R

Industries & companies
Logistics: Small Package-Delivery Companies Grow as Businesses Seek Alternatives to UPS, FedEx | W
Tech: Tech Layoffs Shock Young Workers. The Older People? Not So Much. | N
Tech: Spotify to cut 6% of its workforce as tech layoffs continue | C
Tech: How Apple Has So Far Avoided Layoffs: Lean Hiring, No Free Lunches | W
Tech: Microsoft announces new investment in ChatGPT-maker OpenAI | C

Technology
AI Passes U.S. Medical Licensing Exam | MedPage Today

Beyond markets
Covid: FDA says most people probably need only one annual vaccine shot | C
Lab-grown meat moves closer to American dinner plates | R
WHO urges ‘immediate action’ after cough syrup deaths | R
Consumer Reports urges dark chocolate makers to reduce lead, cadmium levels | R