June 26 (Monday)
Latest Morning Briefing Executive Summary: Baby Boomers Retiring On $75 Trillion In Net Worth
There’s a $75 trillion-wide hole in the theory that consumers’ running out of pandemic savings will sink the economy; that’s the size of Baby Boomers’ collective nest egg. What these seniors don’t pass on to their heirs, they’ll be spending in their Golden Years. … More Boomers than not have retirement savings, reveals data on retirement account ownership by generation cohort, and many face mandatory distributions soon. … Also: The CEI and LEI are conflicted on the question of whether a recession is around the bend or not. We believe not, and investors are coming around to that view too.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 20.
Markets
S&P 500 and Nasdaq climb, shrugging off geopolitical uncertainties | R
This Bull Market Is Just Getting Started, Traders Bet | W
Column: Russian drama little immediate threat to crude oil, but adds to risks | R
Central banks
Central-Bank Action Finally Cooling Global Economy, Data Indicate | W
Why Economies Haven’t Slowed More Since Fed and Others Hit the Brakes | W
Jerome Powell and the Grateful Dead | W
US
‘Elections are going to be a mess’ due to A.I.: Ex-Google CEO Schmidt | C
Europe
Southern Europe Swings to the Right | W
Geopolitics & trade
Why Wagner Chief Prigozhin Turned Against Putin | W
Russia Tries to Restore Control, as Prigozhin Denies Trying to Oust Putin | W
Industries & companies
Pharma: No More Shots: Pill Versions of Ozempic-Like Drugs Are Coming | W
Pharma: Novo Nordisk says high-dose obesity pill leads to 15% weight loss | C
Pharma: Pfizer to end development of experimental obesity pill lotiglipron | C
Restaurants: Diners Are Losing Patience With Restaurant Service—and There’s No Quick Fix | W
Corporate finance
Japan-backed fund to buy semiconductor firm JSR for $6.3 billion | C
IBM to acquire software company Apptio for $4.6 billion | C
Databricks Strikes $1.3 Billion Deal for Generative AI Startup MosaicML | W
Beyond markets
Why High-Powered People Are Working in Their 80s | W
