Saturday, September 05, 2020

Quick Overview is up to date

  • Nonfarm payrolls rose by 1.37 million, including the hiring of 238,000 temporary Census workers. The unemployment rate fell more than expected, by almost 2 percentage points, to 8.4%. However, the # was distorted by people misclassifying themselves as being “employed but absent from work.” Without this error, the unemployment rate would have been about 9.1% last month, the Labor Department’s Bureau of Labor Statistics estimated.


  • Buffett’s  $6.2 billion expedition into Japan’s five largest trading houses may indicate that  Buffett is  expecting inflation and a weaker U.S. dollar thereby making international equities more attractive.


  • Reuters: The ISM said its index of national factory activity increased to a reading of 56.0 last month from 54.2 in July. That was the highest level since November 2018 and marked three straight months of growth.


  • Reuters: The Federal Reserve will need to roll out new efforts "in coming months" to help the economy overcome the impact of the coronavirus pandemic and live up to the U.S. central bank's new promise of stronger job growth and higher inflation, Fed Governor Lael Brainard said on Tuesday.



  • The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 53.1 last month from July’s 52.8, marking the sector’s fourth consecutive month of growth and the biggest rate of expansion since January 2011.  …..  LME copper stocks fall to lowest since Dec 2005.


  • Economist: ..on September 2nd Germany’s government said it had proved “unequivocally” that Mr Navalny had been attacked with a military-grade nerve agent of the Novichok family—the same sort of chemical weapon used against Sergei Skripal, a former Russian spy, in the British city of Salisbury in 2018. 


  • (Reuters) - Soaring corn prices are stokingfood security jitters in China, where food inflation has climbed to the highest in over a decade and President Xi Jinping made a recent high-profile plea for an end to wastage.

  • According to new research from JPMorgan analyst Stephen Tusa, GE stock -  once the classic "widows and orphans" investment - might be worth nothing at all.


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