The unprecedented decline in in US economic output in the second quarter is currently on track to recover less than half the loss in Q3, according to several GDP nowcasts compiled by CapitalSpectator.com. The estimates are vulnerable to the high uncertainty related to the path of the coronavirus in the remaining weeks of Q3, but for the moment the prospects appear to favor a partial rebound.

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California suffers first rolling blackouts in nearly two decades: Politico
China says US damaging global trade with Huawei sanctions: BC
Gold rebounds above $2000/oz. on renewed US-China tensions: BBG
Norway’s sovereign wealth fund — world’s largest — suffers huge 1H loss: CNBC
The recession is just starting to hit US cities: NYT
Latest Covid-19 retail victim: Marks & Spencer to cut 7,000 jobs: MW
NY Fed Mfg Index: sector growth slowed sharply in August: Mstar
US homebuilder sentiment in August rises to match record high: CNBC