October 2 (Monday)
Latest Morning Briefing Executive Summary: Some Good News & Not So
Last week’s plentiful economic news netted out to support our optimistic economic outlook through next year, bringing more signs of improving productivity, surging investment in manufacturing, and manageable inventories. Last week also brought some mixed news and some outright bad news, but we still see a 75% chance of a soft-landing scenario with disinflation and a 25% chance of a hard landing. Longer term, we’re still convinced that improving productivity will set the stage for a “Roaring 2020s” decade. Nevertheless, for the here and now, we are worrying quite a bit about the Bond Vigilantes’ hostile response to profligate fiscal policy. … And: Dr. Ed reviews “A Good Person” (+ +).
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on October 2.
Markets
Nasdaq rises on boost from growth stocks; Fed comments in focus | R
In the Market: US bond market signals the end of an era | R
Oil Producers Push for Bigger Voice in Climate Talks Ahead of COP28 Summit | W
Hedge funds using computers to sell up to $30 billion of stocks soon – UBS | R
Central banks
How the Fed Made a Worrisome Economic Signal Go Away | W
Fed’s Powell: Economy still working through the impact of the pandemic | R
US
Americans Are Still Spending Like There’s No Tomorrow | W
Underlying Prices Cooled in August, Giving the Fed More Evidence of Softer Inflation | W
Why Consumers Are Mad About Inflation Even Though It Has Fallen | W
Why High Interest Rates and Energy Prices Are Stressing the Economy | N
The Apartment Market Is Hitting a Construction Lull | W
Money line on losers: Say it ain’t Joe vs. Don! | P
China
Does China’s Property Bust Make a Financial Crisis Inevitable? | W
Industries & companies
Autos: Rivian’s Quest to Build the Ultimate Electric Truck Burns Through Billions | W
Autos: UAW Strike Hurts Demand for Steel | W
Banks: Rising Rates Likely Hit Bank Balance Sheets in Quarter | W
Media: Why Netflix is Selling Pizza and Wedding Gowns Based on Your Favorite Shows | W
Artificial Intelligence
Microsoft CEO Testifies About Limits of AI at Google Antitrust Trial | W
How AI May Change Entrepreneurship | W
Is Your AI Model Going Off the Rails? There May Be an Insurance Policy for That | W
Climate
Temperatures in Spain shatter records as October kicks off | R
The Secret Behind the First $1 Billion Green Hydrogen Startup | W
Crypto
FTX customers who lost fortune are doubling down on crypto | C
Corporate finance
Germany’s Birkenstock targets $9.2 billion valuation in New York IPO | C
Beyond markets
Nobel in medicine goes to work that enabled creation of mRNA vaccines | C
