November 13 (Monday)
Latest Morning Briefing Executive Summary: Stock Investors Back In The Saddle Again
The stock market has a good track record as a business-cycle indicator, even though last year’s bear market was a false alarm, as investors expected a recession that never came. Since that bear market ended, in October 2022, the stock market has been in a bull market, with its August-through-October weakness simply a correction. Now the Bond Vigilantes and their concerns have retreated, clearing the way for the S&P 500 to rise to our targets of 4600 by year-end 2023 and 5400 by year-end 2024. … Such expected stock market strength jibes with our economic outlook, which presumes that a recession isn’t likely before the end of 2024. … And: Dr. Ed reviews “NYAD” (+).
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 6.
Markets
Stocks Are Suddenly Up—And FOMO Is Back | W
Growing geopolitical conflicts have some investors feeling guilty about buying defense stocks | C
A $20 Billion Week Marks Reopening of Market for EM Borrowers | B
Investors pull record sums from Saudi in Middle East fund flight | R
Central banks
Central banks need a word with budget masters | R
Stubborn Core CPI Helps Explain Some Fed Restlessness: Eco Week | B
US
The Low-Wage Pay Surge Is Over, Threatening the Consumer Boom | W
Some public workers may receive reduced Social Security benefits | C
Is Remote Work the Answer to Women’s Prayers, or a New ‘Mommy Track’? | N
Former House Speaker Kevin McCarthy has not decided whether to seek reelection in 2024 | C
House Republicans unveil their plan to avert a government shutdown next week | C
The Biggest ‘Shrinkflation’ Scandal Yet: Oreo Fans Think Cookies Have Less Filling | W
India
Indian Stocks Advance in Diwali Session on Improving Economy | B
Geopolitics & trade
As Biden and Xi gear up for a high-stakes meeting, experts have low expectations | C
What It Took to Get Biden and Xi to the Table | W
Hamas Needed a New Way to Get Money From Iran. It Turned to Crypto. | W
Industries & companies
Media: ‘The Marvels’ worst opening weekend box office for MCU | C
Tech: You Paid $1,000 for an iPhone, but Apple Still Controls It | N
Climate
New satellite will detect and share CO2 data from individual facilities | R
The Path to Green Energy Is Getting Messier | W
How Cancer-Linked PFAS ‘Forever Chemicals’ Found Their Way Into Everyone | B
Beyond markets
FTX Adds a Complex Chapter to the Financial-Fraud History Books | B
Elon Musk biopic: Darren Aronofsky Oscar track record | C
Taylor Swift’s postponed Argentina show prompts airline to waive flight-change fees | C
