October 14 (Saturday)
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
Stock Investors Embrace Bond Yield Surge in Dangerous Fed Bet | B
US
Persistent US services inflation dampens oil outlook | R
Deflation is the anti-inflation. Here’s the September 2023 breakdown | C
Quiet cutting: Power balance in offices may be shifting back to bosses | C
Walgreens pharmacy staff could stage nationwide walkout | C
Should I Buy a House? Higher Interest Rates Make it Cheaper to Rent | B
Geopolitics & trade
Gaza Residents Brace for Israeli Offensive After Evacuation Demand | W
Civilians trapped in Gaza can’t escape Israel’s siege | C
Hezbollah joining conflict in neighboring Israel would be a ‘gamechanger’ | C
Israeli shelling strikes Lebanese army post after infiltration warning | R
Israel-Hamas War: After Gaza Strip Invasion, US Fears Lack of Strategy | B
US must be ready for simultaneous wars with China, Russia, report says | R
Why X and Meta face pressure from EU on Israel-Hamas war disinformation | C
Industries & companies
Autos: UAW Strikes for More Worker Pay as GM, Ford, Stellantis CEOs Paid $1 Billion | B
Pharma: US FDA approves Pfizer’s inflammatory bowel disease drug | R
Beyond markets
Universal basic income actually isn’t that radical — it’s just good poverty policy | Vox
