July 13 (Thursday)
Latest Morning Briefing Executive Summary: Travel, Banks & AI
Americans are traveling like never before, with record numbers flying to do so. Post-pandemic “revenge travel” has sent the valuations of travel-related stocks skyward too. Jackie takes a timely look at what could go wrong. … Also: Banks’ soon-to-be-released 2Q earnings will show investors whether large banks have continued to fare way better than small ones—shedding light on whether the valuations of the latter have been overly punished. The S&P 500 Regional Banks index has dramatically underperformed the S&P 500 Diversified Banks index ytd. … And: In our Disruptive Technologies segment, a look at how AI is being deployed to speed and improve drug development.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 10.
Credit
Federal funds rate signals big trouble ahead | P
US
As Inflation Goes Down, Soft Landing Odds Improve | W
Inflation’s Fall From a Four-Decade High in Four Charts | W
Inflation Eased to 3% in June, Slowest Pace in More Than Two Years | W
CPI report: What the latest inflation numbers mean for you – Vox
PPI June 2023: Wholesale prices rise less than expected | C
Tampa: Why Gen Z and Millennial Tourists Are Flocking to This Retirement Mecca | W
This Part of Bidenomics Needs More Economics | W
China
Xi Jinping Chokes Off Crucial Engine of China’s Economy | W
India
Floods force Indian capital to shut schools, offices, and plan water rationing | R
Tesla looking to make about half million EVs annually in India, Times of India reports | R
Geopolitics & trade
As Concerns About China Grow, Germany Loosens Its Embrace | W
China Hacking Was Undetectable for Some Who Had Less Expensive Microsoft Services | W
Industries & companies
Airlines: Delta Earnings: Travel Boom Drove Record Revenue, Airline Says | W
Banks: Is the Banking Crisis Over? We Are About to Find Out | W
Consumer: Amazon Prime Day: U.S. online sales surge to $12.7 billion | C
Consumer: If the FTC Gets Its Way, Could This Be the Last Prime Day? | Cato at Liberty Blog
Media: Disney cuts back on Marvel, Star Wars content | C
Media: Disney TV assets could be for sale, Iger says | C
Media: Twitter asks court to end FTC order on its data practices | C
Media: Meta’s Threads Now Has to Keep Its Millions of Users Engaged | W
Pharma: Over the counter birth control approved by the FDA | C
Corporate finance
Disney open to finding ESPN strategic partner | C
Exxon Buys Pipeline Operator, Making Big Bet on Carbon | W
Technology
ChatGPT owner OpenAI is being investigated by FTC | C
Google’s Bard AI Chatbot Adds More Languages to Take On ChatGPT | W
My A.I. Writing Robot | The New Yorker
Chip wars: How ‘chiplets’ are emerging as a core part of China’s tech strategy | R
Remini, the AI App That’s Triggering Baby Fever Among Gen Z and Millennials | W
Crypto
Founder of crypto lender Celsius Network arrested, charged with fraud | R
