May 12 (Friday)
Latest Morning Briefing Executive Summary: Travel, Homes & Hydrogen
Maskless and Covid-free, Americans have been venturing further abroad this year, a trend that has saddled companies with domestic-travel-related businesses with tough y/y comparisons. Airbnb and Wynn are prime examples. … Also: Jackie examines the curious divergence between the share price performances this year of two housing-related S&P 500 industries, Homebuilding and Home Improvement Retail, which usually perform in lockstep. … And: Our Disruptive Technologies focus this week is on utilities’ use of hydrogen to produce electricity.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 8.
Markets
Stock Market Today: Dow Drops More Than 200 Points; S&P 500 Slips After Inflation Data | W
How to adjust your portfolio for a possible recession | C
Russian Oil Finds New Markets Via Mystery Traders and Old Tankers | B
Central banks
Biden to Nominate Latina Adriana Kugler to Fed Governor Post in Historic First | B
US
Yellen Says ‘We Have to Default’ on Something If Congress Fails | B
Retirement Savings Shortfall: Governments Face $1.3 Trillion Billion Bill | B
US weekly jobless claims hit 1-1/2-year high; inflation subsiding | R
US import prices rebound in April, but trend remains weak | R
How the New Immigration System Works After Title 42 | W
Travel costs fell in April. The dip may be short-lived | C
China
China’s biggest chipmaker SMIC posts first revenue fall in 3 years | C
Geopolitics & trade
G7 finance chiefs debate reducing supply chain reliance on China | R
Donald Trump’s Stance on Ukraine Sows Worry in Europe | W
Industries & companies
Autos: Tesla raises U.S. prices for all its vehicles except Model 3 | C
Autos: Tesla Recalls 1.1 Million Cars in China Over Braking Defect | B
Autos: China regulator says Tesla to update software of more than 1 million cars | R
Autos: Will EVs Dent the Auto Repair Business? | W
Banks: Big U.S. lenders to pay billions to replenish bank failure fund | R
Banks: Midsize Bank Panic to Test Regulators’ Skepticism of Mergers | W
Media: Netflix Plans to Cut Spending by $300 Million in 2023 | W
Pharma: Wegovy, other weight loss drugs ‘no silver bullet’, says WHO amid obesity review | C
Pharma: GOP law cut Big Pharma tax rates by 40%, Senate report says | C
Tech: Microsoft Won’t Raise Salaries for Full-Time Employees This Year | W
Transportation: Companies betting on demand rebound in second half of year, DHL says | C
Corporate finance
SoftBank Is Said to Pitch $10 Billion IPO of Chip Designer Arm | B
The antitrust assault on the startup economy | The Hill
Technology
Ex-Googler Geoffrey Hinton and other A.I. doomers say it could kill us all. They’re focused on the wrong threat. | Slate
Goldman Sachs created Louisa, AI-powered social media startup | C
Climate
Carbon Capture Is Hard. This Plant Shows Why. | W
Beyond markets
Space startup partners with SpaceX to launch commercial space station | R
