July 21 (Friday)
Latest Morning Briefing Executive Summary: Defense, China & Quantum Computers
In these geopolitically tense times, countries need to build more formidable military arsenals to deter aggressors—which for defense contractors means surging demand. Meeting it may be a challenge, admitted Lockheed Martin on its Q2 earnings call, voicing the need for a stronger supply chain; investors were swift to punish the stock. Jackie provides context with earnings and valuation data for the S&P 500 Aerospace & Defense industry. … Also: China’s real estate crisis continues to deepen. News of the most recent property developers to default has sunk China’s junk bond prices. … And: The race for quantum computing supremacy among Google, Amazon, and IBM.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 17.
Markets
Stock volume Friday seen high due to index revamp, options expiration | C
Gross Says Bond Bull Market Isn’t ‘In the Cards’ as Yields Peak | B
China’s Lost Decade for Investors Has Already Happened | W
Central banks
Column: Tightening on the QT | Reuters
High Rates, Low Supply Hinder Home Buying This Summer | W
Fed officially launches new FedNow instant payments service | C
US
Housing’s Recession Already Happened | W
Fastest-growing job market? Government — and that’s a disaster | P
US Recession Becomes Closer Call as Economists Rethink Forecasts | B
Opinion | Don’t Let Inflation Bury the Memory of a Government Triumph | N
Where Is Kamala Harris? | W
Trump classified documents trial set for May 2024, ahead of election | C
Geopolitics & trade
Inspired by Ukraine war, Taiwan launches drone blitz to counter China | R
Untangling the U.S. From China’s Economy Is Messy | W
‘Nobody in Hollywood’ Like Xi Jinping | W
China hackers breach emails of U.S. diplomats Nicholas Burns, Kritenbrink | C
Industries & companies
Airlines: Airlines Are Thriving as People Keep Traveling | N
Autos: UAW contract talks: EV battery plants make for wildcard issue | C
Banks: Bank Lobbying Climbs Nearly 20% Ahead of New Fed Capital Rules | B
Financials: Big Regional Banks Reported Stable Deposits. For Investors, That Counts as Great News. | W
Media: Streaming Brought Hollywood to a Standstill. Now Comes the Pain. | W
Media: Instagram Threads lures creators, and Meta’s challenge is to keep them | C
Media: Threads Is Already Losing Its Allure for Users, Adding Urgency for New Features | W
Technology
In Race for AI Chips, Google DeepMind Uses AI to Design Specialized Semiconductors | W
How BMW uses AI to make vehicle assembly more efficient | C
How to Direct A.I. Chatbots to Make Them More Useful | N
Beyond markets
We Will Never Run Out of Resources | W
Tony Bennett, Crooner Who Bridged Genres and Generations, Dies at 96 | W
How TV Writing Became a Dead-End Job | N
