August 26 (Saturday)
Latest Morning Briefing Executive Summary: Dueling Composite Indicators
The Conference Board’s trio of economic indicators flashed conflicting messages in their recently reported July readings. The leading indicator says a recession is overdue. The coincident indicator keeps scaling new heights. The lagging indicator has been peaking, as it does after recessions are almost over! Today, we explore explanations in the specific components that each index measures. … Also: The CPI services inflation rate significantly lags the CPI goods inflation rate. Services’ inclusion of rent is much of the reason. … And: Q2 earnings reporting season is nearly over. Joe analyzes the near-final data on Q2 earnings growth and the encouraging estimate revisions trend.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 21.
Central banks
Despite What Powell Says, the Fed Is Likely Done | W
Fed Chair Powell calls inflation ‘too high’ and warns that ‘we are prepared to raise rates further’ | C
Powell Targets High-or-Higher Rate Path as Economy Picks Up | B
Jackson Hole: ECB’s Christine Lagarde Steers Clear of Debate Over Rate Plans | B
ECB’s Lagarde says interest rates to stay high as long as needed to defeat inflation | C
US
Consumers Are Spending Like It’s 2019 | W
Duplex, Triplex Construction Nears Record Lows Despite US Housing Crisis | B
Europe
Meet the guy responsible for helping Meta, Google and Amazon prepare for new laws | C
China
Centaline says mainland China unit has ‘huge’ unpaid developers’ commissions | R
India
Column: India’s massive renewables deployment helps meet record power demand | R
Geopolitics & trade
China Remains Embedded in US Supply Chains: Jackson Hole Paper | B
Is China really buying up U.S. farmland? Here’s what we found | C
Industries & companies
Airlines: Fan blades, engine parts go missing from Go First jets, lessor says | R
Energy: BP urges more oil, gas investment while speeding energy transition | R
Financials: Are We Ready for a $100 Billion Catastrophe? How About $200 Billion? | W
Pharma: ADHD drug market faces back-to-school supply strain | C
Tech: Amazon biometric payments privacy concerns | C
Corporate finance
Instacart files to go public on Nasdaq to unfreeze tech IPO market | C
FTC Pauses Challenge to Amgen’s $27.8 Billion Deal for Horizon Therapeutics | W
Artificial Intelligence
AI-discovered drugs will be for sale soon | Vox
Today’s top AI firms may not be best long-term investments, advisor says | C
Industrials over tech? Gauging productivity play among AI ETFs | C
Beyond markets
Elon Musk’s Shadow Rule | The New Yorker
This Company Created a Return-to-Office Plan That Employees Actually Like | W
