US companies added 148,000 workers to payrolls in July (on a seasonally adjusted basis), the Labor Department reports. The gain is below June’s increase, but the one-year trend for private payrolls was steady, as expected, at a respectable +1.7%.
The Global Market Index’s risk premium is expected to earn an annualized 4.8%, based on revised data through July. Today’s update is unchanged from last month’s analysis. GMI is an unmanaged market-value-weighted portfolio that holds all the major asset classes (except cash). The performance forecast for this passive benchmark represents the ex ante premium over the projected “risk-free” rate for the long term.
China vows to respond to Trump’s new trade tariffs: CNBC
US pulls out of Cold War-era nuclear treaty with Russia: BBC
Japan expands trade restrictions on South Korea: NY Times
Eurozone retail spending rebounded in June: Reuters
Global mfg activity contracted for third month in July: IHS Markit
ISM Mfg Index for US fell to 51.2, lowest print since Aug 2016: CNBC
US Mfg PMI in July dropped to lowest level since Sep 2009: IHS Markit
Construction spending in US fell 1.3% in June vs. year-earlier level: HW
US jobless claims rose moderately last week, but labor mkt still tight: CNBC
US job cuts slowed in July, falling 7.5% vs. previous month: CG&C
Today’s July US private employment data set to hold at +1.7% annual rate: