May 27 (Saturday)
Latest Morning Briefing Executive Summary: Covid Again? Upbeat NERI.
China bracing for another Covid wave but will rely on vaccines rather than lockdowns. … Latest earnings was better than expected, but S&P 500 earnings was still down 3.0% y/y, which is better than the -7.0% consensus expectation. Q2 should be down again modestly before comps turn positive again. … Joe reviews the latest NERI readings, which seem to be turning more optimistic.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 22.
Markets
Municipal Bond Issuers on Edge as Debt Ceiling Deadline Nears | W
Stocks Traders Shun Leverage With Debt-Cap Deadline Approaching | B
AI Is Becoming the Stock Market’s Answer to Everything | B
Gasoline Prices, a Source of Pain Last Year, Have Come Way Down | N
Central banks
We Expect Economic Growth to Weaken Until Fed Pivots to Rate Cuts | Morningstar
US Debt Limit
Debt ceiling negotiations push toward critical default deadline | R
Debt-Ceiling Deadline Tracker: New Risks Emerge If Washington Does a Deal | B
Janet Yellen Sets June 5 Deadline for Debt-Limit Accord | W
Yellen’s Debt Limit Warnings Went Unheeded, Leaving Her to Face Fallout | N
Ahead of Debt-Ceiling Deal, Some Democrats Point Finger at Biden | W
US
U.S. Consumer Spending Jumped in April and Inflation Accelerated | W
Joe Biden wants a ‘new economic world order.’ It’s never looked more disordered. | PO
The Anti-Woke Presidential Candidate Who Wants to Crush ESG and Gut the Fed | W
Move Over, Mars. Elon Musk Turns His Attention to 2024 White House Race. | W
Has ‘Gig Work’ Become a Dirty Word? | N
India
Column: India’s electricity supply improves in cooler pre-monsoon | R
China
China’s Wuhan finance regulator urges hundreds of firms to repay debt, local media report | R
A Chinese Alternative to Bloomberg Terminals Quietly Limits Information Overseas | W
Geopolitics & trade
Europe Rebuffs China’s Efforts to Split the West in Pushing Ukraine Cease-Fire | W
North Korea spent the pandemic building a huge border wall (reuters.com)
Chip Companies, Wary of Break With China, Seek Looser Limits on Federal Cash | W
Industries & companies
Autos: Volkswagen Bets an Old SUV Can Help It Win Over Americans | W
Tech: How AI Is Catapulting Nvidia Toward the $1 Trillion Club | W
Technology
Elon Musk’s Neuralink Says It Has FDA Approval for Study of Brain Implants in Humans | W
Reality Is Broken. We Have AI Photos to Blame. | W
