Tuesday, August 1, 2023

Wednesday's News Links

[Yahoo/Bloomberg] Stocks Drop as Fitch Cuts Credit Rating: Markets Wrap

[Reuters] Russia strikes Ukraine's Danube port, sending global grain prices higher

[Reuters] Oil prices rise 1% as US inventory data show robust demand

[Reuters] Fitch cuts US credit rating to AA+; Treasury calls it 'arbitrary'

[Yahoo/Bloomberg] US Stripped of AAA Rating by Fitch as Budget Deficits Swell

[Yahoo/Bloomberg] What Analysts Say About US Credit Downgrade by Fitch

[Yahoo/Bloomberg] Summers, El-Erian Pile Criticism on Fitch Downgrade Decision

[CNBC] Private sector added 324,000 jobs in July, well above expectations, ADP says

[Reuters] US pulls back offer to buy 6 million barrels of oil for emergency reserve

[Reuters] Factbox: Credit rating: The shrinking 'triple A' club

[CNBC] Mortgage demand from homebuyers drops for the third straight week as interest rates rise

[Yahoo/Bloomberg] Money Flows Into Commodities Again as Growth Fears Start to Ease

[Yahoo/Bloomberg] Rice Supply Faces New Threat as Thailand Urges Crop Curbs

[Yahoo/Bloomberg] BOJ Shock Has Wall Street Gaming Out the Global Spillovers

[Yahoo/Bloomberg] BOJ’s Key Policy Architect Says YCC Shift Doesn’t Mean Exit

[Reuters] BOJ debated inflation overshoot risk in June, offering insight into July tweak

[Reuters] Major global firms warn of slow China sales as post-pandemic surge fades

[Yahoo/Bloomberg] China Moves to Roll Out Pro-Growth Policies as Economy Struggles

[Yahoo/Bloomberg] China Puts Pressure on Local Governments in Pro-Growth Push

[Reuters] Insight: World battles to loosen China's grip on vital rare earths for clean energy transition

[Reuters] Poland rushes troops to border, Belarus denies helicopter violation

[CNBC] India’s rice export ban to hurt millions globally. These countries will be the worst hit

[CNBC] ‘Unprecedented heat’: Iran begins two-day nationwide shutdown amid soaring temperatures

[Bloomberg] US Plans $103 Billion Debt Sale, Says Issuance to Keep Rising

[WSJ] Private Equity, Hedge Funds Brace for Coming SEC Overhaul

[FT] European IPOs fall to lowest level since 2009

Tactical Short Q2 Recap Call Today

Please join Doug Noland and David McAlvany Thursday, August 3rd, at 4:00 pm Eastern/ 2:00 pm Mountain time for the Tactical Short Q2 recap conference call, “Bank Bailout Spurs Bubble Revival.” Click here to register. 

Tuesday Evening Links

[Reuters] S&P 500, Nasdaq end lower on first day of August in busy earnings week

[Yahoo/Bloomberg] Oil’s Summer Rally Takes a Pause on Risk-Off Tone, Dollar’s Gain

[Reuters] Huge rallies boost Tupperware, Yellow shares into 'meme stock' club

[Reuters] US job openings hit more than two-year low; labor market still tight

[Reuters] Extreme heat cuts into US small business, worker hours in July, report shows

[Yahoo/Bloomberg] Fed Faces ‘Narrow and Difficult’ Path as It Unwinds Balance Sheet

[Yahoo/Bloomberg] Fed’s Bostic Urges Caution With More Hikes as Inflation Recedes

[Bloomberg] Hedge Funds Boost Canada Bond Liquidity — Except in March 2020

[WSJ] Foreign Purchases of U.S. Homes Slump to All-Time Low