July 25 (Tuesday)

Latest Morning Briefing Executive Summary: Workers Of The World: Strike!
What’s on our worry list? Yesterday, we covered urban office real estate, which adds credit availability concerns to our worry list. Today, we look at the labor market, specifically the unrest fomented by the effects of the pandemic and inflation. … Labor unions have grown in might, their members are striking, and employers are being forced to meet their demands. … So we are adding a renewed wage-price spiral to our worry list, which could happen if a rebound in wage inflation leads to resurgent consumer price inflation.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 24.

Markets
‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Mea Culpa | B
Bond Traders Bet on ‘Nirvana’ in New Decoding of Yield Curve | B

Central banks
Why the Fed Isn’t Ready to Declare Victory on Inflation | W
A ‘momentous week’ ahead as the Fed, ECB and Bank of Japan near pivot point | C

US
Housing-Market Rebound Poses Challenge for Fed’s Inflation Fight | B
White House says Biden will veto Republican-backed bills over spending cuts | R
Americans in Their Prime Are Flooding Into the Job Market | W

Europe
France, Germany Flash PMI Data Give Recession Warning Signals | B
Extreme heat in Europe prompts tourists to seek cooler vacation spots | C

Geopolitics & trade
Nikki Haley says China is an enemy, U.S. companies need Plan B | C
U.S. Weighs Potential Deal With China on Fentanyl | W

Industries & companies
Chemicals: Bayer slashes outlook over weak glyphosate demand | R
Financials: FDIC Says Some US Banks Incorrectly Reported Amount of Uninsured Deposits | B
Financials: Banks Are Going on a Diet | W
Logistics: FedEx pilots reject tentative deal, supervised talks likely | C
Media: Elon Musk risks more damage to Twitter business after name change to X | C
Media: Spotify increases prices for its premium subscription plans | C
Media: ‘Barbenheimer’ opening weekend in the top 5 of all time | C

Technology
Does Sam Altman Know What He’s Creating? | The Atlantic
Cleaning Up ChatGPT Takes Heavy Toll on Human Workers | W
Apple Vision Pro headset applications open for developers | C

Corporate finance
FOMO Drives Investors as IPO Market Awakens From Long Slumber | W
M&A Deal Slump Sparks Turnover at Investment Banks Goldman Sachs, Morgan Stanley | B

Beyond markets
‘Oppenheimer’ and the Nightmare of Nuclear Annihilation | The Atlantic
‘Oppenheimer’ pushes Army to warn of long lines at Trinity site | C
Parents Hire $4,000 Sorority Consultants to Help Daughters Dress and Impress During Rush | W