Private payrolls rose 96,000 in August, moderately below expectations, according to this morning’s update from the Labor Dept. The soft gain fans worries anew that the recent slowdown in the economy will bring a recession at some point in the near future. The one-year trend still ranks as healthy growth, but the downside bias looks is starting to look worrisome.
US stocks have been whipsawed this year, but looking through the recent noise shows that all the major equity factors continue to post solid gains, based on a set of exchange-traded funds. The leading performers, however, are enjoying outsized gains that are far ahead of the relative laggards.
Hurricane Dorian is pounding North Carolina: CNN
China and US set to meet in October for trade negotiations: CNBC
Slower US job growth expected in today’s update from Labor Dept: Reuters
Global growth slowed in August, near 3-year low: IHS Markit
German industrial output continued to fall in July: Bloomberg
US factory orders rose for second month in July: MW
ISM Non-Mfg Index accelerated to moderately strong pace in August: Bloomberg
US Services PMI slowed to a crawl in August: CNBC
US private payrolls rose 195k in August, best pace in 4 months: ADP