What we’re reading (8/8)
“Stocks Finish Mixed With Earnings In Focus” (Wall Street Journal). “Stocks have swayed in recent days, buffeted by shifting views on central bank policy. Friday’s better-than-expected jobs report divided investors and analysts. Some raised concerns that the Federal Reserve could continue lifting interest rates aggressively, while others questioned whether the U.S. economy could really be in recession.”
“Fed’s Soft-Landing May Have Just Touched Down, Despite Hang-Ups On The Word ‘Recession’” (Dealbreaker). “In an ideal world, of course, the Fed could still achieve its aspirational soft landing: reigning in inflation without plunging the U.S. into a severe recession. Despite a lot of anxiety, and a lot of criticism, it seems the Fed is doing exactly what it’s supposed to be doing. Americans’ top concern right now is not employment, the business climate, or GDP. It’s inflation, which is exactly what the Fed’s rate hikes are targeting.”
“We Can Finally Retire The Scariest Jobs Chart You’ll See Today” (Washington Post). “Some industries have expanded massively. Those include construction, information (data processing, publishing, motion pictures, etc.), transportation and warehousing, and professional and business services. But some industries remain a shell of their pre-pandemic selves. For example, local governments have 555,000 fewer filled jobs, a decrease of 3.8 percent, with the losses divided between education and noneducation jobs.”
“The Market Read The Federal Reserve All Wrong” (CNN Business). “After the Federal Reserve's July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in a bid to fight inflation, the Fed indicated it could downgrade the size of its hikes moving forward.”
“Axios Agrees To Sell To Cox Enterprises For $525 Million” (Axios). “Axios has signed a deal to sell to its most recent lead investor, Cox Enterprises, the companies announced Monday. The cash deal values the company at $525 million, according to sources familiar with the deal.”
