June 23 (Friday)

Latest Morning Briefing Executive Summary: Transports & Batteries
As consumers continue to celebrate their freedom from Covid with vacations and other experiences, spending less on tangible things, not only retailers have felt the sting—and not only last year. Transport companies continue to report less freight to haul, as FedEx’s recent earnings report illustrated. Jackie examines the S&P 500 Transportation industry’s demand problem. On the bright side, fuel costs have fallen, and analysts are optimistic about improved results next year. … And: When the solid-state batteries for EVs now being developed become commercialized, the much greater driving range they offer may be just the shove the EV market needs to take off.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 20.

Markets
Dow falls 200 points as Wall Street heads for a losing week | C

Central banks
Central-Bank Action Finally Cooling Global Economy, Data Indicate | W
Deepening economic pain leaves ECB in policy dilemma | R
Exclusive: Fed’s Daly: two more US rate hikes a ‘very reasonable’ projection | R

US
Where’s the Recession We Were Promised? | W
Higher Interest Rates Hit Home Prices Again | W
Inflation Has Eased, but Economists Are Still Worried | N
Forget the Cost of Living. What’s the Cost of Thriving in America? | W
How much money it takes to be comfortable with emergency savings | C

Europe
Germany Is Dragging Down Europe’s Economy | W

Geopolitics & trade
Biden says ‘dictator’ comment won’t undermine US-China relationship | C
Biden Plays Down Dictator Remark After China Reprimands U.S. Ambassador | W
Drone Deal Will Help India Track Chinese Troops on Disputed Border | W
U.S.-India relations: New chapter unlocks more tech and defense deals | C

Industries & companies
Autos: Ford Prepares New Round of Layoffs for U.S. Salaried Workers | W
Energy: Siemens Energy shares plunge more than 30% as wind turbine worries deepen | C
Financials: Goldman Sachs faces writedown on David Solomon’s GreenSky deal | C
Healthcare: The Price of First Gene Therapy for Muscular Dystrophy: $3.2 Million | W
Materials: 3M Settles ‘Forever Chemicals’ Litigation for Up to $12.5 Billion | W
Retail: Shein, Temu evade U.S. tariff, human rights law imports: House report | C

Technology
Precision, a Neuralink competitor, conducts its first clinical study | C
AI Isn’t Coming for Marketers’ Jobs—Not Yet, at Least | W

Beyond markets
Behind the Musk-Zuckerberg ‘Cage Match’ Is a Yearslong Billionaire Feud | W