June 01 (Thursday)
Latest Morning Briefing Executive Summary: Tech, AI & Irises
The stock price indexes of the S&P 500 Information Technology sector and its top-performing industry ytd, Semiconductors, have left their peers in the dust. Not only has the transformative potential of AI whetted investors’ appetite for tech; so have semiconductor companies’ rosier earnings outlooks now that they’re out from under their inventory glut. Does this tech rally have legs? We think so over the longer term, since earnings prospects are bound to rise as AI spending and the semiconductor cycle head north. … Also: Irises have caught our eye, specifically their potential for “authenticating humanity.” OpenAI CEO Sam Altman envisions that potential changing the world.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 30.
Markets
Robust Jobs Market Poses Threat to Stocks’ Rally | W
US Treasury Cash Pile Hits New Low as Debt Ceiling Wrangling Persists | B
Column: US oil and gas output still rising in response to high prices last year | R
US I
Business Is Slowing. So Companies Are Juicing Profits. | W
Private payrolls rose by 278,000 in May, well ahead of expectations, ADP says | C
Will I Have More Money Than My Parents? Young US Workers Worry About Retirement | B
Debt ceiling: Senate to take up bill, Schumer seeks to fast-track vote | C
US II
Main driver of inflation: Wage hikes | C
How inflation and higher interest rates changed car buying | C
Who is the hardest hit by inflation in the U.S. | C
How inflation is measured: 3 examples | C
Why Your Steak Is Getting Pricier | W
China
Opinion | China Remains a Formidable Economic Foe | N
Geopolitics & trade
NATO Faces Pressure on Clear Membership Path for Ukraine | W
Industries & companies
Aerospace: Boeing CEO ‘not overly anxious’ about Chinese narrowbody jet | R
Financials: Goldman Sees 25% Trading Revenue Drop, Plans More Layoffs | B
Financials: Apple Customers Say It’s Hard to Get Money Out of Goldman Sachs Savings Accounts | W
Technology
Job Cuts From AI Are Just Beginning, the Latest Challenger Report Suggests | B
AI Is Writing Code Now. For Companies, That Is Good and Bad. | W
Climate
ESG Blowback: Exxon, Chevron Investors Reject Climate Measures | W
A pledge to fight climate change is sending money to strange places | R
Beyond markets
Human Metapneumovirus Cases Surged in 2023. Is There an HMPV Vaccine? | B
Rising 2023 Summer Camp Costs Show Waitlists Have Usurped Fun | B
