Yesterday, President Trump put an end to Congress’ efforts to assemble a fiscal stimulus package, instructing his representatives to stop negotiating until after the election.
U.S. stocks are rising after their greatest decline in months, Congress is voting on a “skinny” version of a stimulus bill, and LVMH’s agreement to buy Tiffany’s at $16 billion is falling apart.
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