August 30 (Wednesday)
Latest Morning Briefing Executive Summary: Consumers Spending Selectively
The rolling recession hit the retail industry during the first half of this year. Demand for many retailers’ merchandise plummeted during Q2, even as consumers paid up for services like travel and dining and big-ticket items like new cars and homes. Jackie examines how the shift in consumer behavior affected the earnings of particular retailers last quarter as well as the ytd performance of particular Consumer Discretionary industries’ share price indexes. … Also: US households are in good shape right now with unemployment low. But consumer debt has been on the rise, and other factors may weigh on consumer spending soon—including the resumption of student loan payments.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 27.
Markets
S&P 500, Nasdaq inch up as economic data fuels rate-pause hopes | R
China chip stocks rally after Huawei’s low-key launch of new Mate 60 Pro phone | R
Central banks
Column: September sees Fed dot plot thicken | R
Stubborn Inflation in Germany and Spain Keeps ECB on Alert | B
US
US GDP: Economy Expands at Revised 2.1% Pace in Second Quarter | B
ADP Payrolls Data: US Companies Added 177,000 Jobs in August 2023 | B
Demand for Workers Cools, but Remains Elevated | W
Job Market Cools but Is Far From Freezing | W
How to Play the Property Meltdown in Five Charts | W
Where Tech Investors Are Buying Up Land, Locals Are Worried | N
Europe
Gazprom’s Gas Output Decline Bottoming Out, Industry Data Show | B
China
What’s going on with China’s economic slowdown? | Vox
Geopolitics & trade
Prigozhin’s Life on the Run: Wagner Chief Used Jets to Evade Tracking for Years | W
Industries & companies
Logistics: Chatbots Are Trying to Figure Out Where Your Shipments Are | W
Media: The Twitter Superfans Trying to Ditch the X Brand | W
Media: CNN Names Former New York Times Chief Mark Thompson CEO | W
Mobile: Why Verizon, AT&T and T-Mobile Want to Access Your Bank Account | W
Railroads: Train Wi-Fi Can Be Terrible. Operators Are Looking High and Low for Solutions. | W
Tech: Funds punished for owning too few Nvidia shares after stunning 230% rally | R
Corporate finance
U.S. Steel Entering Confidential Pacts as It Reviews Bids | W
3M Just Agreed to a $6 Billion Settlement. More Lawsuits Await. | W
Technology
How long until a robot is doing your chores? | BBC
Artificial Intelligence
AI Fuels New Brand-Safety Worries, and Would-Be Solutions, for Marketers | W
Climate
Europe’s Biggest Wildfire This Century Rages in Greece | W
Chicago Is Spending $3.8 Billion to Fight Flooding. It Might Not Be Enough. | W
