WSJ: Walgreens Summit Health combination near: https://www.wsj.com/articles/walgreens-unit-close-to-roughly-9-billion-deal-with-summit-health-11667793542 .
WSJ: Economic data this week: CPI data on Thursday: https://www.wsj.com/articles/economy-week-ahead-u-s-inflation-in-focus-11667747093 .
China’s Zero COVID policy unlikely to change before March: https://www.usnews.com/news/world/articles/2022-11-06/analysis-for-chinas-covid-policy-change-comes-in-small-increments .
China’s trade shrinks: https://money.usnews.com/investing/news/articles/2022-11-06/chinas-oct-exports-and-imports-contract-missing-expectations .
Twitter now asks some of the employees Musk fired to come back: https://www.msn.com/en-us/money/other/week-two-of-musk-s-twitter-brings-reversals-on-check-marks-jobs/ar-AA13O5ky?cvid=1cec2f8c472440b498ed14caec299493 . Even Musk should now be realizing he is not only not invincible, he has no business in the social media business. Oh, and the company is now losing $4 million a day. WSJ: And the blue checkmark changes have technical problems: https://www.wsj.com/articles/twitter-rollout-out-of-blue-check-mark-service-hits-snags-11667779178 .
Paul Krugman opens Mastodon account in case of the Muskocalypse at Twitter: https://www.benzinga.com/news/22/11/29585464/after-elon-musks-twitter-takeover-paul-krugman-opens-mastodon-account-as-precaution-against-possible . The migration of well-known Twitter users represents another hull breach in Musk’s sinking ship.
WSJ: Meta plans large-scale layoffs this week: https://www.wsj.com/articles/meta-is-preparing-to-notify-employees-of-large-scale-layoffs-this-week-11667767794 . Well, at least Twitter is hiring … All of this job loss in the social media world comes from mismanagement, and not Fed rate hikes. However, the increased cost of borrowing may bring some rationality to this over-extended industry.
Orange Julius starts slinging the mud at Ron “DeSanctimonius” DeMentis: https://www.wsav.com/hill-politics/trump-jabs-at-desantis-during-rally-ron-desanctimonious/ . I look forward to these two hypocrites tearing each other down. Another felon, Roger Stone, created the “DeSanctimonius” tag.
Update to the November 4 newsletter: With the power outage Friday night, I neglected to add an item that November 4 was the 100th anniversary of Howard Carter opening the tomb of King Tut. The items from this tomb are widely considered to be the greatest archaeological discovery of all time. If you have the opportunity to see them in person, do it – they are beyond extraordinary.