Why September Could Be Huge for Markets All Around the World
http://www.bloomberg.com/news/articles/2016-08-31/why-september-could-be-huge-for-markets-all-around-the-world
Ford, GM Sales Fall, Chrysler Sales Rise @FoxBusiness
http://www.foxbusiness.com/markets/2016/09/01/ford-gm-sales-fall-chrysler-sales-rise.html
Samsung Mobile Recovery Suffers Blow as Galaxy Notes ‘Catch Fire’ @FoxBusiness
http://www.foxbusiness.com/markets/2016/09/01/samsung-mobile-recovery-suffers-blow-as-galaxy-notes-catch-fire.html
Report: Wal-Mart to Cut 7,000 U.S. Store Back-Office Jobs @FoxBusiness
http://www.foxbusiness.com/markets/2016/09/01/report-wal-mart-to-cut-7000-u-s-store-back-office-jobs.html
Low rates can’t resolve long-term labor problem: Fed’s Mester
http://www.reuters.com/article/us-usa-fed-mester-idUSKCN1175H9
Preventing deflation is central task, ECB’s Nowotny says
http://www.reuters.com/article/us-ecb-nowotny-deflation-idUSKCN1175K2?il=0
Required Reading
SpaceX Falcon 9 rocket destroyed in blast Video: Explosion at rocket launch site Some Hispanic Trump backers pull support after immigration speech Wal-Mart to cut 7,000 U.S. store back-office jobs: report U.S. blacklists dozens over Ukraine conflict Romanian hacker ‘Guccifer’ sentenced to 52 months in U.S. prison
Charts Of The Day: Sure, The Fed Is Going To Raise Rates
ISM PMI Misses Estimates: And… SalesForce.com Gaps Down After Reporting Earnings… Salesforce.com does well when the economy does well (more people are selling)
There’s no #%#@ rate hike!
There has been a bet placed by the market over the past week or so and that is or was that the fed will raise rates sooner rather than later. This mantra has been going on for 22 months. 22 months ago, the fed stopped printing and since, has teased and yapped away rate hikes…
The Closing Look
Stocks fell after most of Wednesday’s economic data strengthened the argument for another rate hike. ADP, the country’s largest private payrolls report, said private U.S. employers added 177k new jobs, beating estimates for 175k in July. Weekly mortgage applications rose by +2.8%, which was higher than last week’s reading of -2.1%. Elsewhere, pending home sales jumped…