June 06 (Tuesday)

Latest Morning Briefing Executive Summary: Slippery Slopes
Oil prices are slipping notwithstanding Saudi Arabia’s production cuts, which aren’t as effective at halting such slides as they used to be. Too much global oil production capacity in the world relative to too little demand is the problem. … If oil prices are on a slippery slope, so is inflation; indeed, the latest inflation indicators suggest it is continuing to moderate. … As for the latest economic indicators, the NM-PMI and LEI are misleading. Their weakness doesn’t point to a broad-based recession. The forecast still looks like a rolling recession to us.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 5.

Markets
This Rally Is All About a Few Star Stocks—And Some Investors Are Worried | W
Are Stocks in a New Bull Market? It Depends. | N
Bill Gates Portfolio: 7 Best Stocks to Buy Now | Investing | U.S. News
 
Global
World Bank Projects Weak Global Growth Amid Rising Interest Rates | N

US
Why the U.S. Remains Far From Recession | W
The Big Tech Censorship Machine Is Running in 2024 | W
Cities are facing tough fiscal problems. David Schleicher’s In a Bad State warns about the painful road forward. | Slate.com
 
Geopolitics & trade
Ukraine war: Breach of Nova Kakhovka dam unleashes floodwaters | C
China Won’t Save the U.S. From Recession This Time | W
Merck CEO says decoupling from China would be at huge economic cost | R

Industries & companies
Commercial Real Estate: Interest-Only Loans Helped Commercial Property Boom. Now They’re Coming Due. | W
Pharma: Merck sues Biden administration over Medicare drug price negotiations | C
Tech: Apple’s entry into VR is a ‘watershed moment,’ say top industry execs | C
 
Corporate finance
PGA and LIV Golf Combine With Saudi Arabia’s PIF Investing | B
Sequoia Capital to split apart U.S., China, India businesses | C

Technology
AI poses new threats to newsrooms, and they’re taking action | C

Crypto
Coinbase Sued by SEC for Breaking US Securities Rules | B
SEC Actions vs Coinbase, Binance Cover $120 Billion of Crypto | B