Today, the PMI reading for August came out to be 56, up from 54.2 in July and above the median projection of 54.8, indicating the fastest rise in U.S. manufacturing since late 2018.
U.S. consumer spending is slowing, Prime Minister Abe resigning, market vol increasing, mega corps like Coca Cola shedding thousands of jobs, and the Paycheck Protection Program riddled with fraud
After 2 decades in the industry, Russell Clark realized that the economy and market were functioning drastically differently post-COVID. That realization changed his entire framework.
In this issue, we’ll cover 3 things:
– Recognizing when your investment thesis is wrong — before it’s too late.
– Learning to adapt your framework in a new market environment.
– Implementing your new framework at inflection points.
The technology sector is continuing with its takeover of the broader market with the recent announcement of Exxon, Raytheon, and Pfizer being removed from the Dow Jones Industrial Average Index.
TikTok sues the U.S. government, President Trump announced expanded access to convalescent plasma as a COVID-19 treatment, and what’s contributing to the soaring lumber futures prices.
Divergent PMI readings between the U.S. and Europe indicate a stark contrast forming between the two continents. While Europe was hit with a wake-up call today, it looks like the American dream has yet again bought itself more time.
The European Central Bank, the Bank of Japan, the Bank of England, and the Swiss National Bank have all announced today that they would be scaling back their US dollar liquidity operations.