July 19 (Wednesday)
Latest Morning Briefing Executive Summary: (Hot) Global Soft Landing
Globally, economic growth has been on a downtrend since mid-2022 according to our Global Growth Barometer. Recent drags include the hot summer, Americans’ weaker demand for imports as they spend more on travel and other services, and headwinds in Europe and China unique to them. … Since we don’t expect the US to enter a recession anytime soon, we expect the bull market in stocks to continue. Our new S&P 500 targets for year-end 2024 and 2025 suggest the bull market has legs. … And: Joe explains the importance of the MegaCap-8’s expected earnings turnaround. With these eight stocks representing 27% of the S&P 500’s market cap, their outperformance could power the entire market higher.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 17.
Markets
There Is a Long-Term Danger Lurking in Financial Markets | W
Long-run debasement of the U.S. dollar likely to get much worse | WT
U.S. Rate Rises Hit the Yen Hard, but Now It’s Staging a Comeback | W
US
Americans aren’t rebuilding their savings fast enough | CNN Business
Party is over for Champagne as sales drop after two record years | R
Biden is forgiving $39 billion in student debt — here’s who qualifies | C
Geopolitics & trade
India should cash in on ‘China plus one’ strategy – World Bank chief | R
India’s Tata chooses UK for $5 bln Jaguar Land Rover gigafactory | R
China Tries to Reassure U.S. Amid Speculation Around Missing Foreign Minister | W
Industries & companies
Airlines: Air Travel Can Be a Nightmare but Can Congress Fix It? | W
Home Builders: Homeowners Don’t Want to Sell, So Home Builders Are Booming | W
Media: Netflix gets rid of cheapest basic ad-free option in the U.S., U.K. | C
Tech: Microsoft Shows AI Won’t Be a Loss Leader | W
Wireless: AT&T Halts Plans to Remove Lead Cables in Lake Tahoe | W
Corporate finance
Microsoft, Activision extend deadline for $69 billion takeover deal | C
Technology
Business and Labor Square Off Over AI’s Future in American Workplace | W
Advertisers Warily Embrace A.I. | N
Climate
Europe battles heatwave and fires, record temperatures scorch China | R
Beyond markets
Scenic Highway 30A in Florida Sees Explosive Rental Growth | W
