June 17 (Saturday)
Latest Morning Briefing Executive Summary: Hawkish Pause, Rotation & Tech
The FOMC voted not to tighten further for now, as we had expected, and raised its real GDP projection for this year to 1.0%—suggesting a soft landing. … June has seen a dramatic rotation in stock market leadership: Tech has underperformed the S&P 500 this month to date after outperforming since October; the mtd performance winners are Consumer Discretionary and Materials, previous underperformers. Jackie unpacks why. … Also: A look at what’s been driving up valuations in various Tech sector industries. … And: Will genetically altering food to make it more delicious have unforeseen consequences?
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 12.
Markets
Stock Bulls Are Acting Like the Earnings Recession Is a Hoax | B
S&P 500 Finishes Higher for Fifth Straight Week | W
It’s Too Soon to Say Whether This Is a Bull Market, but Invest Anyway | N
Currencies
A Bank China Built to Challenge the Dollar Now Needs the Dollar | W
US Keeps China on FX Watchlist, Without Designating Currency Manipulators | B
Central banks
China’s Pivot on Stimulus Spurred by Fear That the Slowdown Could Get a Lot Worse | W
Global
The Global Economy Looks Like It’s Out of Sync | W
US
How lower gas prices can help travelers save this summer | C
Geopolitics & trade
Putin Screens Show of WWII Massacres at Forum to Justify His War | B
Putin Promotes Russia’s Economy and Hints Again at Using Nuclear Weapons | W
Awaiting Antony Blinken in Beijing: Chinese Blame-Shifting | W
U.S. Grapples With Potential Threats From Chinese AI | W
Industries & companies
Autos: Elon Musk: Tesla’s market cap is tied to solving autonomous driving | C
Autos: Converting gas-powered cars to EVs is a booming business | C
Autos: Toyota defies skeptics as stock seals best week since 2009 | C
Energy: Drilling Stocks Plunge on Bets for Oil Price Slump | W
Retail: Retailers Are Trying to Fix Their Supply-Chain Forecasts | W
Tech: Amazon re:MARS robotics and AI conference not happening in 2023 | C
Corporate finance
Exclusive: Ball Corp explores sale of aerospace unit for more than $5 billion | R
Beyond markets
U.S. Energy Dept gets two ransom notices as MOVEit hack claims more victims | R
These Pandemic-Era Habits Just Won’t Die | W
