October 13 (Friday)
Latest Morning Briefing Executive Summary: Banks, Biotech & Digital Money
Bank stocks have tanked this ytd, and analysts are pessimistic on earnings prospects. Valuations are so depressed that both the S&P 500 Regional Banks and S&P 500 Diversified Banks industry indexes sport forward P/Es below 10. But Jackie sees signs that Q3 earnings may not be as bad as feared, including a recent pickup in capital markets activity and adequate protections against slowly rising loan losses. … Also underperforming this year has been the S&P 500 Biotech industry. But brisk M&A activity may underpin these stocks. … And: China has rolled out a digital currency; the government has been incenting its uptake in numerous ways.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on October 9.
Markets
Stocks Drop, Ending Winning Streak After Inflation Data | W
Treasury Bond ETF (TLT) Backfires With $10 Billon Loss | B
Cooperman expects little from market, only watching individual stocks | C
Central banks
Housing remains a puzzle in Fed’s inflation fight | R
Inflation Bump Won’t Be Enough to Unsettle Fed | W
Getting to 2% inflation won’t be easy. This is what has to happen | C
US
Surging rents lift US consumer prices; underlying inflation grinding lower | R
Mortgage rates near 8%, low inventory: Homebuyers face tricky market | C
Joe Biden meets with Target CEO Brian Cornell and business leaders | C
Geopolitics & trade
Israel-Hamas War Live News Updates: Hamas Says Attack Was Planned for Two Years | W
For Palestinians Trapped in Gaza, There Is No Way Out | W
U.S. to Hold Off on Disbursing $6 Billion in Iran Oil Revenue Unfrozen in Prisoner Deal | W
Industries & companies
Autos: Ford-UAW contract talks: Automaker ‘at the limit’ of what it can offer | C
Banks: Bank earnings kick off after another period of rising rates, bad loans | C
Media: Disney Goes All In on Sports Betting | W
Media: Comcast, Disney hire Morgan Stanley, JPMorgan to value Hulu | C
Artificial Intelligence
‘A.I. Obama’ and Fake Newscasters: How A.I. Audio Is Swarming TikTok | N
Beyond markets
Accounting Graduates Drop By Highest Percentage in Years | W
We Can Now See the Brain Like Never Before | W
Google opening Visitor Experience cafe, retail store, event space | C
