Be in the know. 27 key reads for Tuesday…

  1. The long-lasting global auto chip shortage is edging closer to resolution, “Our Greater China semis team is highly confident that current semiconductor supply is sufficient to bring up auto production.” Morgan Stanley (streetinsider)
  2. GSK to Buy U.S. Biotech Affinivax in $3.3 Billion Deal (barrons)
  3. Alibaba, JD.Com, and Other Chinese Stocks Are Rising. Here’s Why. (barrons)
  4. China’s Downturn Shows Signs of Easing (wsj)
  5. China manufacturing begins to rebound as COVID-19 restrictions ease (foxbusiness)
  6. China’s e-commerce giants start sales campaigns for midyear 618 shopping festival (scmp)
  7. Tesla’s Shanghai Plant Is Back to 70%. (barrons)
  8. Executives ‘buy the dip’ at rate not seen since start of pandemic (ft)
  9. Home sellers in hot markets are dropping prices as demand wanes (foxbusiness)
  10. Inside GM’s Newest Weapon in the EV Wars (barrons)
  11. Al Gore’s Investment Firm Bought Alibaba and Salesforce. It Sold Cisco, Microsoft. (barrons)
  12. Alphabet, Facebook, and 4 More Bargain Stocks to Buy Now (barrons)
  13. Why Costco Won’t Raise the Price of Its Hot Dogs (barrons)
  14. New York Stock Exchange vice chairman says the IPO market may revive after Labor Day (marketwatch)
  15. Explainer | As Shanghai reopens, what Day 1 without Covid measures will look like (scmp)
  16. Qualcomm Keen to Buy Arm Stake in Chip Designer’s Upcoming IPO, CEO Says (barrons)
  17. European Union Pledges to Curb Oil Purchases From Russia (wsj)
  18. Paxlovid Becomes Household Name for Covid-19 Patients (wsj)
  19. Lumber Prices Slump With Rising Interest Rates (wsj)
  20. Activist Investor Nelson Peltz to Join Unilever Board (wsj)
  21. Can Paramount Go It Alone? (nytimes)
  22. An American Comeback on Amazon (nytimes)
  23. Biden to Meet Powell to Discuss Economy as Inflation Bites (bloomberg)
  24. China’s Netflix Vows to End Losses After $7 Billion Selloff (bloomberg)
  25. Fed Governor Christopher Waller says he’s prepared to take rates past ‘neutral’ to fight inflation (cnbc)
  26. Norwegian Air orders 50 Boeing MAX aircraft, resolving dispute (yahoo)
  27. Stocks: We ‘have reached peak bearishness’ amid recession and Fed fears, Citi says (yahoo)