February 10 (Friday)

Latest Morning Briefing Executive Summary: Financials, Cruise Lines & AI Search
The stock market’s strength since October has been a beckoning beacon for the capital markets: IPOs have revived, bond markets have calmed, and bond issuance has picked up. It may be halcyon days for the capital markets if investors in the shares of alternative fund managers are correct. These bellwethers of capital markets activity have outperformed the S&P 500 dramatically since September. … Also: Consumers are spending on travel again—sparking earnings recoveries for Royal Caribbean and the S&P 500 Hotels, Resorts & Cruise Lines industry generally. … And: AI is poised to transform search, but market dominance may be up for grabs.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 6.

Energy
Russia to Cut Oil Production in Retaliation for West’s Sanctions | B
Russia Tries Another Shot With the Energy Weapon | B
Russia to cut oil output by 500,000 bpd in March | R
OPEC+ Won’t Boost Oil Supply as Russia Cuts, Delegates Say | B
Oil prices rise after Russia says it will cut output | C
Analysis: Oil rebound more likely this year, $100 a barrel possible, OPEC sources say | R
Why Energy Bills Are So High Right Now Around the World | B

US
Recession alarm bells are ringing, but (much) less loudly than before | R
Joe Biden’s billionaire tax is dead on arrival | C
Biden’s student loan forgiveness most needed by Black Americans | C

Layoffs
Yahoo layoffs: Company to cut 20% off staff by year-end | C

Europe
Meloni: Italy does not seek ‘pat on the back’ from Europe | R

China
In aging China, a call for ‘bold’ steps to cut cost of having babies | R
 
Geopolitics & trade
China says proposed U.S. ban on Chinese buying U.S. property violates market rules | R

Industries & companies
Autos: Jeep Wrangler SUV at $115,000 is most expensive ever | C
Financials: Goldman’s Last Key Consumer-Banking Hire Nahar Exits Loss-Making Group | B
Media: Fox Turns Down $2B Offer to Buy Tubi on Multi-Billion Dollar Potential | B
Media: Bob Iger signals Disney Hulu strategy shift | C
Retail: Adidas shares tank after company issues warning of unsold Yeezy stock | C

Corporate finance
Kroger and Albertsons zero in on store divestitures amid deal review -sources | R

Crypto
Ether losses build as crypto investors weigh the future of staking | C

Climate
El Nino: Earth could overshoot 1.5 degrees for the first time in 2024 | C

Beyond markets
The Covid emergency in the U.S. ends May 11. HHS officials say here’s what to expect | C
The Latest Megatrend Might Be in Your Backyard | InvestorPlace