The August Nonfarm payroll report was a dud with +130k jobs created against expectations for a +160k print. Adding to the problems with the report, the two prior months were revised lower by -20k jobs, the BLS estimated +93k fictitious jobs in this report, and the Federal government hired +25k workers for the 2020 census … Read more
U.S. equity futures catapulted higher in overnight trading which sent S&P 500 futures over their 50-day moving average on a report from the Chinese state media that a meeting will be held in Washington in October to take action to create good conditions for trade consultations. Notably, the market reaction to this meeting is stronger … Read more
A flood of liquidity came back to the markets in overnight trading as Hong Kong’s Lam withdrew the extradition bill. While U.S. investors are eagerly bullish on the news, this is only one of five demands by Hong Kong protestors. Due to the protesting, Hong Kong’s economy is rapidly moving into a recession as their … Read more
U.S. equity futures gave up their Monday night gains on a report that the U.S. and China are having trouble agreeing to set a date. Asian manufacturing PMIs are showing a slowdown while the Eurozone manufacturing PMI came in at 47, which anything under 50 denotes a contraction over the prior month. Inflation data out … Read more
South Korean exports fell for the ninth straight month as August exports are down -13.6% from a year ago after last month’s -11.0% drop. South Korean semiconductor exports are also down for nine straight months as they fell -30.7% over last year after falling -28.1% last month. South Korean exports to China are down for … Read more