August book recommendation: The Grand Chessboard: American Primacy and its Geostrategic Imperatives by Zbigniew Brzezinski
In this report: NFP Revisions-The emperor has no clothes and trade charts for the week ES, YM, NAT GAS, PLATINUM. More on the history of American adventurism and why it matters now- over on The Oil Report this week in ‘The Heartland’
Calendar & Earnings
As a follow-up to Friday’s poor NFP, markets will focus on Thursdays jobs data. Earnings through the week from top tier names in Tech and media will play their part but won’t be over-riding the general weakness that MUST be priced further into markets.
Earnings
Mon: VRTX, PLTR, MELI.
Tues: CAT, ETN, PFE, AMGN, ANET, AMD.
Wed: DIS, UBER, MCD, DASH, SHOP, APP.
Thurs: CEG, LLY, COP, GILD.
Fri: N/A.
Articles
5 questions Trump faces after dismal jobs report; BLS commissioner firing
Amazon is the worst performing stock in the Nasdaq 100.
Meta stock jumps 12% on Q2 earnings beat, better-than-expected Q3 outlook
House Prices In Gold Are Getting Cheaper (3 Charts)- MUST READ
Scientists create light-powered mic that hears speech from fluttering everyday objects
How US Fiscal Concerns Are Affecting Bonds, Currencies, and Stocks
Views & Macro
The gamification of US labour data finally got laid bare for what it is last Friday. Reality comes knocking. Risk on markets fell on Friday as a reaction to what was a whopping revision down from 147k jobs added in July to actually only 14k. on the MoM NFP. Private payrolls data not being much better.
So the market acted accordingly and tipped over the edge on Friday. All markets reacted as normal, bonds bid up-crushing yields, Gold rallied immediately, DXY gave up the ghost on its multi-day upside pullback. Oil got dragged into the picture with a double whammy of OPEC+ announcing 6 mins before NFP, that it was pretty much a given they would go with a 548k boost for September. Turned out to be 546k, but who cares.
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