US officials try to assure public that vaccine will be safe: CNBC
NY state will review coronavirus any vaccines approved by Feds: Reuters
European Union to appeal ruling in favor of Apple in $15 billion tax battle: CNBC
GOP and Dems still trying to reach agreement on new stimulus bill: BBG
House Democrats preparing new, smaller coronavirus relief package: CNBC
Is US policy repeating mistakes in 2009’s economic stimulus? NYT
Investors warily eye prospects for US election: MW
Sales of newly built US homes rose to 14-year high in August: MW
US jobless claims continue to surge–up 870,000 last week: CNBC

US presidential elections always come with a certain amount of risk since the potential for the transfer of power from one party to another introduces a degree of uncertainty on a range of economic and geopolitical issues. But this year’s Nov. 3 contest promises (threatens) to be unusual for all the wrong reasons.

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J&J vaccine moves to final clinical trials: NYT
New stimulus bill before election looks unlikely: CNN
Republicans move ahead to confirm Supreme Court nominee: WSJ
Fauci tells Congress a US vaccine could be available as early as April: CNBC
California to phase out sales of gasoline-engine cars by 2035: NPR
Trump refuses to commit to peaceful transfer of power in election: BBC
Eurozone growth slows to a crawl in September: IHS Markit
UK growth ‘loses momentum’ in September: IHS Markit
Japan’s economy remains in recession in September: IHS Markit
PMI survey data: US economic rebound continues in September: IHS Markit

US Stocks Flirting With Fourth Weekly Decline: It’s only Wednesday, Sep. 23, but the downside bias for US equities is building. At today’s close, Vanguard Total US Stock Market (VTI) shed 2.6% for the week so far. Today’s sharp pullback more than reverses two days of moderate gains and so it doesn’t take a raging bear to imagine that VTI is flirting with its first run of four straight weekly declines in more than a year.

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Nearly every corner of global markets has rebounded sharply since the coronavirus crash pulled the rug out of asset prices in March. The US bond market is no exception, which has enjoyed a strong rally. Leading the way higher within the fixed-income realm by a wide margin: long-term corporate bonds, based on a set of exchange-traded funds.
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House passes legislation to avoid government shutdown: CBS
Wisconsin declares state of emergency as Covid-19 cases spread on colleges: ABC
Coronavirus’s rebound is weighing on the global services sector: WSJ
Eurozone growth slows to a crawl in Sep, PMI survey data shows: IHS Markit
UK’s economic recovery hits setback in Sep as output slows: IHS Markit
Japan’s recession continues in September, PMI survey data suggests: IHS Markit
Growth picked up in Richmond Fed Mfg Index for September: RF
US existing home sales rose to 14-year high in August: CNBC

Judging by several third-quarter GDP nowcasts, the rebound remains strong. But GDP estimates only capture one dimension of how the economy is faring in the wake of the coronavirus recession. For deeper insight, monitoring various real-time indexes is useful. By that standard, the current outlook remains mixed.

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Trump expected to name Supreme Court nominee by Saturday: Reuters
McConnell: Senate may hold Supreme Court vote before election: BBG
Fed’s Powell: US economy improving but faces ‘highly uncertain’ recovery: BBG
Obamacare may be toast after Ginsburg’s death: HP
China’s recovery may be key marginal driver of global GDP: CNBC
China compiling blacklist of US companies to punish tech firms: WSJ
Different paths on climate change for Big Oil in Europe vs. US: NYT
Chicago Fed Nat’l Index: Growth slowed in Aug but remained above average: AP

Commodities continued to rise last week, posting a second weekly gain. Stocks in emerging markets and foreign real estate shares also popped, generating similar increases. Together, the trio delivered relatively strong returns, in contrast with the rest of the major asset classes, based on a set of exchange-traded funds.
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GOP senators under pressure to fill Ginsburg seat on Supreme Court: AP
Amy Barrett is a front-runner to replace Ginsburg on Supreme Court: Reuters
US set to pass 200,000 coronavirus deaths: Reuters
Global trade rebounds faster than expected: WSJ
Defying White House, UN doesn’t support reimposing Iran sanctions: Politico
Russia announces international sales of its coronavirus vaccine: WSJ
HSBC, Britain’s biggest bank, charged with Ponzi scheme: BBC
China’s support for global economy will likely be modest: SCMP
BoA economists are skeptical that higher inflation is near: II
US Consumer Sentiment Index rises in September to six-month high: UoM