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What I Am Reading

Tuesday, June 28, 2022

Markets

S&P 500 falls as stocks struggle to maintain their comeback from bear market lowsCNBC
SPACs wipe out half of their value as investors lose appetite for risky growth stocksCNBC

Commodities

Russian Gas Cuts Threaten World’s Largest Chemicals HubWall Street Journal
'Off the charts' chemical shortages hit U.S. farmsReuters

Central banks

Central Banks Should Raise Rates Sharply or Risk High-Inflation Era, BIS WarnsWall Street Journal

US

How Much Wil July 4 Barbecue Cost? Beef, Chicken Prices Soar More Than InflationBloomberg
Big-Ticket Goods Orders, Pending Home Sales Point to Steady DemandWall Street Journal
Pending home sales post surprise increase in MayCNBC
Hottest US Housing Markets Now Have Bigger Share of Price CutsBloomberg
Bidding Wars Overheated the Home-Buyer Market, Now They’re Coming for RentersWall Street Journal

Emerging

Shanghai Has Reopened, but Not DisneylandWall Street Journal
Russia slides into historic debt default as payment period expiresCNBC
Sanctions Push Russia to First Foreign Default Since Bolshevik RevolutionWall Street Journal

Industries & companies

Airlines:Airlines cancel over 700 U.S. flights as labor crunch, bad weather weighReuters
Consumer Discretionary:Amazon plans second Prime shopping event in Q4CNBC
Tech:Action to break up ‘Big Tech’ will mean price hikesThe Hill

Crypto

Crypto fund defaults on $670M loan, and Bitfury CEO says prices aren't 'relevant': CNBC Crypto World

Beyond markets

Bee Hive Wipeout Is Crimping Harvests as Crisis Enters New StageBloomberg