November 21 (Tuesday)
Latest Morning Briefing Executive Summary: Oil, Stocks & 3-D Hand Printing
In the spirit of the season, Jackie reflects on two sources of US investors’ gratitude—lower fuel prices and the stock market rally. … A confluence of factors has driven down fuel prices as Americans set out on their Thanksgiving travels, including record-high US oil production and lower-than-expected demand from China. … Interest-rate-sensitive industries have outperformed in recent weeks’ stock-market rally as investors lay bets that the Fed is done tightening. The rally has bumped three S&P 500 sectors to ytd gains above 30%. … And our Disruptive Technologies focus: hand-softening technology for robots, courtesy of 3-D printing.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 13.
Markets
Stocks Extend Rally, Boosted by AI Optimism | W
All Is Quiet in Oil Markets—for Now | W
Central banks
Fed Officials Thought Rates Could Rise More if Inflation Stayed Stubborn | N
Fed minutes anchor cautious policy approach as risks become more two-sided | R
The Fed Wants More Evidence Before Changing Rate Stance | W
Fed minutes November 2023 | C
US
US existing home sales slump to more than 13-year low, prices accelerate | R
Houses Too Expensive to Buy Underpin Lofty Rents | W
Rising US debt stokes calls in Congress for special fiscal commission | R
‘Funflation’ drives sporting event ticket prices up a whopping 25% | C
Opinion | Subscriptions Create Sneaky Sticker Shock | N
The success of the expanded child tax credit reveals the failure of phase-ins | Vox
Europe
Europe’s gas crisis is over, but not the painful adjustment | R
Germany Freezes Public Spending in New Setback for Europe | W
China
China unlikely to repeat last winter’s surge of fuel exports | R
The Big Bank With a $15 Billion Conundrum in China | W
Geopolitics & trade
U.S. Warns Iran Is Weighing Sending Short-Range Missiles to Russia | W
Israel, Hamas Near Hostage Deal as Gaza Fighting Intensifies | W
China Steps Up Support for Palestinian Cause in Challenge to U.S. Mideast Policy | W
Industries & companies
Autos: Ford Downsizes Plan for Michigan Battery Factory, Citing Slower EV Demand | W
Autos: Ford scales back EV battery plant in Michigan | C
Artificial Intelligence
OpenAI’s Ineffective Altruists vs. Sam Altman | W
OpenAI Is a Mess. So What Happens to ChatGPT Now? | W
Corporate finance
Blackstone Nears $2.5 Billion Deal to Buy Software Developer Civica | W
Crypto
Cryptocurrencies dip as investors digest regulatory updates from Binance, Kraken | C
