August 02 (Wednesday)
Latest Morning Briefing Executive Summary: Global Smorgasbord
While the economies of China and the Eurozone countries have been lethargic, with a contracting M-PMI in China and declining industrial sentiment in the EU, the US economy has been anything but. The Atlanta Fed’s GDPNow model shows Q3 GDP growth tracking at 3.9%. We’re increasingly confident about our no-landing/rolling-recovery outlook over the next 18 months, to which we ascribe 85% subjective odds. … Also: S&P 500 forward earnings continues to recover. … And Joe reports reassuring takeaways from recently released July data on analysts’ estimate revisions for earnings and revenues.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 31.
Markets
U.S. debt downgrade sinks global markets — but economists are not concerned | C
Oil Prices Perk Up as Recession Worries Ebb and Supply Tightens | W
Central banks
Focus: Central Europe’s arms makers scramble for workers as Ukraine boosts business | R
US I
Fitch downgrades U.S. long-term rating to AA+ from AAA | C
Fitch’s US Credit Downgrade Sparks Criticism Along With Unease | B
Mortgage demand drops for third straight week as interest rates rise | C
BofA Joins Fed in Reversing Recession Call Amid Growing Optimism | B
Strong Economic Data Buoys Biden, but Many Voters Are Still Sour | N
Trump Indictment News: Former President Charged In Special Counsel’s 2020 Election Investigation | W
US II
US Companies Added 324,000 Jobs in July, ADP Says | B
US employers are stuck in a hiring catch-22 | The Hill
‘How Do I Do That?’ The New Hires of 2023 Are Unprepared for Work | W
How Much Do I Need to Retire? Workers Says They Want to Save $1.8 Million | B
China
Insight: World battles to loosen China’s grip on vital rare earths for clean energy transition | R
Industries & companies
Consumer: Amazon Fresh grocery delivery opens to people without Prime | C
Media: Democrats press Musk on ‘hostile stance’ toward independent research | C
Tech: iPhone maker Foxconn to invest $600 million into India projects | C
AI
Read This Before You Pick Your Favorite Artificial Intelligence Stocks | W
The Bull Market in Artificial Intelligence Is Just Getting Started: 3 Reasons to Buy Amazon Stock Right Now | MSN
How artificial intelligence is being used to detect, treat cancer — and the potential risks for patients | yahoo.com
How A.I. may make Social Security fraud ‘easier and faster to execute’ | C
Strict curbs on artificial intelligence would hurt striking writers and actors | WT
Crypto
Crypto Is Illegal in China. Binance Does $90 Billion of Business There Anyway. | W
Climate
Iran begins two-day nationwide shutdown due to soaring temperatures | C
