June 27 (Tuesday)

Latest Morning Briefing Executive Summary: Europe, What A Drag!
The Eurozone’s economic outlook has darkened, and we’re not nearly as bullish on European equities as one year ago. … The ECB’s interest rate hikes so far have triggered a technical recession, which is bound to worsen because the region’s stubbornly high inflation implies no end to the tightening in sight. … Other red flags: Analysts have been cutting consensus earnings estimates; high interest rates have depressed demand for business loans to 2008 levels; Europe’s energy resilience could be challenged this winter; and the GDP of Europe’s biggest economy, Germany, is projected to contract this year. … Risks associated with China trade present yet another headwind for the European economy.
(subscribers’ link)

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

Markets
The Stock Market Isn’t as Calm as It Seems | W
Wall Street rebounds as upbeat economic data allays slowdown fears | R
Column: Global exchange copper stocks sink to 15-year lows | R
 
Central banks
ECB Likely to Hike Rates in July, Says Lagarde | W
 
US
Home prices rose for third straight month in April: S&P Case-Shiller | C
U.S. Home Prices Posted First Annual Decline Since 2012 in April | W
 
China
Chinese Local Governments Used Fake Property Deals to Boost Revenues | W
 
Europe
France conducts maiden test of hypersonic glider | R
 
India
Column: India to extend time-of-use electricity tariffs | R

Geopolitics & trade
Exclusive: Russian firm asks Venezuela to match Chevron oil-for-debt deal | R
Russia Set to Overtake Saudi Arabia in Battle for China’s Oil Market | W
Russian Turmoil Shows a Forever War in Ukraine Hurts Putin | W
Lawmakers visit Taiwan as Biden seeks China detente | C

Industries & companies
Autos: Ford Plans to Lay Off at Least 1,000 Contract, Salaried Workers | W
Autos: Volvo adopts Tesla’s EV charging standard | C
Pharma: The Drugs That Are Gaining On Ozempic | W

Corporate finance
Lordstown Motors RIDE files for bankruptcy, sues Foxconn | C
Sequoia Made a Fortune Investing in the U.S. and China. Then It Had to Pick One. | W
 
Technology
AI Promised to Make Jobs Easier. Workers Weren’t So Sure. | W
A.I. May Someday Work Medical Miracles. For Now, It Helps Do Paperwork. | N

Beyond markets
Magic Mushrooms. LSD. Ketamine. The Drugs That Power Silicon Valley. | W