December 04 (Monday)
Latest Morning Briefing Executive Summary: Ho! Ho! Ho!
The stock market’s Santa Claus rally has been turbocharged by a rallying bond market, subsiding inflation, lower oil and gasoline prices—in turn fueling consumers’ purchasing power—diminished fear of the Fed, and China’s economic weakness, which lowers the prices Americans pay for goods imported from there. … Jamie Dimon is right to warn that geopolitical dangers are great, but we don’t ascribe to his view that inflation remains troublesome, the Fed might tighten more, and the consumer’s strength likely isn’t sustainable. We think the economic evidence suggest otherwise on each score. … More good news: The sticky services inflation rates that have concerned the Fed are coming unstuck. … Dr. Ed’s movie review: “The Holdovers” (+).
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on November 27.
Markets I
Stock Funds Get Back on Their Feet | W
11 Stocks Left Out of the Tech Rally. Some Could Be Buys. | BR
Here’s a Complete Rundown of Wall Street’s 2024 Stock Market Predictions | BI
The Stocks Investors Are Putting Under the Tree | W
Markets II
Top Wall Street analysts expect these dividend stocks to enhance total returns | C
Bonds Just Had Their Best Rally Since the 1980s. What’s Next. | BR
Treasury Bond Euphoria Shifts to Market Debate on Fed Rate Cut Path | B
Central banks
Is the Fed About to Ease? Key Tests Lie Just Ahead. | BR
US
Goods Deflation Is Back. It Could Speed Inflation’s Return to 2%. | W
US Payrolls Seen Picking Up After End of UAW Strike: Eco Week | B
Jobs Report Preview: Joe Weisenthal Unravels Labor Market Expectations | B
Europe
Germany is in a bizarre fiscal mess of its own making | E
China
China’s Economy Is Shifting. The World Isn’t Ready for It. | BR
China Frames ‘One Province, One Policy’ Plan for Financial Risk | B
Geopolitics & trade
Pentagon aware of attacks claimed by Houthis on ships in Red Sea | R
Industries & companies
Autos: Why Repairing Your EV Is So Expensive | W
Pharma: Pfizer weight loss pill joins list of obesity drug flops | C
Corporate finance
Alaska Air to buy Hawaiian Airlines for $1.9 billion | R
Climate
IMF chief makes the case for carbon pricing at COP28 climate talks | C
Al Gore slams COP28 climate summit host UAE, says its emissions soared | R
Exxon Mobil CEO urges COP28 climate summit to focus on emissions | C
Artificial Intelligence
Meta AI chief Yann LeCun skeptical about AGI, quantum computing | C
AI Is in the Hands of Big Tech. EU Regulation Could Help It Stay That Way. | BR
Microsoft Stock Is Near a Record High. AI Should Keep the Rally Going. | BR
Nvidia Stock Isn’t the Only Way to Play AI. Super Micro and Vertiv Could Be Big Winners. | BR
Opinion | Behind China’s Plans to Build AI for the World | PO
