US markets slipped overnight as Chinese COVID concerns, and the expectation for Fed interest rate hikes continued to dominate headlines. The Dow Jones dropped 45 points (-0.13%), closing in the middle of its trading range. At best it was up 119, at worst it was down 187 points. The NASDAQ was down 122 points (-1.09%). The S&P 500 fell 18 points (-0.45%). In Europe, Stoxx 50 -0.4%, FTSE -0.1%, CAC -0.2%, DAX -0.4%. SPI Futures are up 32 points (+0.45%), with RBA governor Philip Lowe set to speak about “price stability, the supply side and prosperity” at the Annual CEDA Dinner in Melbourne tonight.

•  China COVID cases weigh on the Wall Street; Disney jumps 6%. 
• Disney brings back Bob Iger as CEO in bid to boost growth
• Saudi denies oil output hike discussion, says OPEC+ may cut if needed
• Real impact of Fed hikes likely bigger than what target rate implies, Daly says
• Goldman Sachs Strategists Say Bear Market Will Last in 2023
• Activist investor asks News Corp to spin off unit instead of merger with Fox
• Chinese carmakers target more European sales with five-star EVs
• Indonesia quake kills over 160, search for survivors continues
• Global stocks, oil prices slip as rising COVID cases prompt Chinese lockdowns.
• China COVID cases rise, hard-hit Beijing’s tightens entry rules.
• Beijing’s reports 316 new local COVID cases, enforces inbound travel rules.
• Iron ore retreats on China COVID flareups, India’s export tax move.
• India scraps export taxes on low-grade iron ore.
• New China COVID curbs push copper (down 2.1%) to two-week low.
• Saudi denies oil output hike discussion, says OPEC+ may cut if needed.
• Oil rebounds from early 5% plunge after Saudis deny OPEC+ output report.
• ECB’s Lane makes a case for smaller rate hikes ahead.
• Australia considers credit card laws for BNPL lenders.
• England beats Iran 6-2 in the World Cup, "It's coming home" - Henry Jennings 

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