August 04 (Friday)

Latest Morning Briefing Executive Summary: Oil, Cat & Flying Cars
With US economic growth so strong and OPEC so disciplined, oil inventories are rapidly depleting. The surpluses that have tethered global oil prices over the past year will disappear next year as consumption overtakes production, forecasts the EIA. Jackie examines the reasons and the recent performance of the S&P 500 Energy sector and its component industries. … Also: The US economy’s vitality was evident in Caterpillar’s remarkable Q2, a testament to the strength of demand for building new homes, mining minerals, and constructing factories. … And in our Disruptive Technologies segment: Will cars ever fly?
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on July 31.

Markets
Bank of America Clients Turn Cautious, Flee From Stocks | B
Surging U.S. crude oil exports disrupt European, Asian prices  | R

Global
Debt-Burdened World Leaders Love to Hate Ratings Companies | B
Inflation Is Cooling. Food Inflation Could Get Worse. | WSJ

US
Health-Care Sector Accounts for a Third of US Job Gains | B
Congress Ended a Tax Break. How That May Help Higher Earners. | WSJ
California must come to grips with its population decline and run itself differently. | Slate

China
Analysis: China’s stubborn savers risk precipitating liquidity trap | R
Huawei launches HarmonyOS 4 as it plots China smartphone revival | C
China Carmaker BYD Sells More Vehicles Than Tesla (TSLA) | B

Geopolitics & trade
Exclusive: Russia doubles 2023 defence spending plan as war costs soar | R

Industries & companies
Media: Opinion | Movies to Sell Us on the American Dream | N
Rails: How Brightline is changing passenger rail in the U.S. | C
Tech: Apple (AAPL) Set to Relinquish Historic $3 Trillion Value as Sales Fall | B
Travel: American Travelers Are Shunning the U.S. for Europe | WSJ
Travel: International travel surges while domestic airfares, hotel rates lag | C

Corporate finance
Disney CEO Bob Iger wants ESPN minority partners but deal won’t be easy | C
Hasbro sells off eOne, taking a page from Mattel’s playbook | C

Climate
We’re having a heat wave but the hot air is coming from a predictable swamp | Fox
Bernie Sanders: DOJ must hold fossil fuel CEOs accountable for climate change | MSNBC

Beyond markets
The Real Reason You’re Having a Hard Time Getting Things Done at the Office | WSJ
Triple-Digit Heat, but No Electric Bill? For Passive Homeowners, ‘It’s Hard to Go Back’ | WSJ