September 21 (Thursday)

Latest Morning Briefing Executive Summary: The Fed, The Deficit & Earnings
The Fed once again alerted the financial markets that the federal funds rate will remain restrictively aloft for longer than generally expected. Managing the market’s expectations in this way rather than raising rates further might lower the risk of a credit crunch and recession. We agree with the FOMC members who collectively anticipate a soft landing. … Also: Inflation has boosted federal entitlements and interest outlays, ballooning the federal budget deficit to worrisome heights, and soon the Biden administration’s spending spree will take it further north. … And: Get ready for a better Q3 earnings season; that’s the message from the earnings estimate data that Joe tracks for S&P 500 companies.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on September 17.

Markets
Big Tech Weighs on Stock Market After Fed Pause | W
Exclusive: China scrutinises quant strategies as market weakness stokes public anger, sources say | R
How China Could Veto $100 Oil | W
U.S. Treasurys: investors digest Fed rate decision | C
 
Central banks
Fed Holds Rates Steady but Pencils In One More Hike This Year | W
Transcript: Fed Chief Powell’s Postmeeting Press Conference | W
The Federal Reserve’s Dotted Line on Interest Rates | W
Fed rate decision September 2023: Leaves rates unchanged | C
Higher Interest Rates Not Just for Longer, but Maybe Forever | W
Is the Fed ignoring signs of another financial collapse?  | The Hill
Bank of England ends run of 14 straight interest rate hikes | C

US
How U.S. Households Got Turned Upside Down by Higher Interest Rates | W
US weekly jobless claims, continuing claims at eight-month low | R
Credit card interest rates near ‘loan shark’ territory, advisor says | C

Geopolitics & trade
China’s Fighter Jets Aren’t Just Flying Around Taiwan. They’re Practicing. | W
Russia hits Ukrainian energy facilities in biggest attack in weeks | R
India suspends visa services for Canadians, demands parity in diplomats | C
 
Industries & companies
Airlines: Travel boom not enough to drive profits at US budget airlines Frontier, Spirit | R
Autos: Opinion | The United Auto Workers Will Lose. I Worry for Our Economy and for President Biden. | N
Autos: Scott and Haley attack unions as UAW strike threatens to escalate | C
Autos: UAW Pushes for Automakers to Cut Reliance on $16-an-Hour Temp Workers | W
Autos: UAW strike: General Motors, Stellantis announce layoffs | C
Media: Hollywood studios, writers near agreement to end strike, hope to finalize deal Thursday, sources say | C
Media: Rupert Murdoch steps down as chairman of Fox and News Corp | C
Media: Inside the Company Minting the Next Generation of Child Stars | W
Tech: Inside Apple’s Spectacular Failure to Build a Key Part for Its New iPhones | W

Corporate finance
Cisco acquires Splunk in cash deal worth $28 billion | C

Artificial Intelligence
GPUs Transformed AI. Now They’re Here For Quantum. | W
Broadcom falls on report Google discussed dropping firm as AI chip supplier | R

Climate
Can Climate Lawsuits Against Energy Giants Succeed? Courts Could Soon Give Clues | W