Hurricane Sally begins lashing Gulf Coast: Reuters
Historic Arab-Israel diplomatic deals set for signing ceremony today: AP
No relief in site from wildfires burning across US West: AP
Minimal guidance expected from Fed on new policy for setting rates: BBG
25 years of global progress on health and economics reversed this year: Politico
Researchers find no evidence of a small-cap risk premium: II
China’s consumer and industrial data show rebound continued in August: CNBC
German investor sentiment rises in September, beating expectations: Reuters
Consumer inflation expectations tick up to 3.0% for 1-year horizon: NYF
US economy’s full recovery will take additional 6 months without stimulus: BBG
Real Treasury yields stay negative for more than five months:

Investors had a tough time identifying a unified narrative for global markets last week, based on a set of ETFs. Performances ranged from a slight gain for equities in developed markets-ex US to a hefty loss for US shares, based on the trading week ended Sep. 11.
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WHO reports record one-day rise in new coronavirus infections: BBC
Gulf Coast prepares for Tropical Storm Sally: AP
Congress has one last chance before election to pass stimulus bill: BBG
Trump signs executive order to lower drug prices: Politico
After nearly a month, California continues to battle wildfires: CNN
Yoshihide Suga, chief cabinet secretary, will be Japan’s next prime minister: JT
Israel’s new peace agreements suggest new era for Middle East: NYT
Eurozone industrial output continued to recover in July: CAM
Oracle wins bidding contest to buy TikTok operations in US: WSJ
Amazon to hire 100,000 new workers: Reuters
US consumer inflation increased for third month in August: MW
Treasury market isn’t convinced Fed can push inflation higher: BBG

● Worked Over: How Round-the-Clock Work Is Killing the American Dream
Jamie K. McCallum
Review via Vice
Data shows that workers fear technology even more than immigrants. “Survey data shows that American workers are more afraid of being replaced by robots than by immigrants, are hesitant to apply for jobs in which applicants are sorted by algorithms, and strongly believe automation will drive down wages,” McCallum writes in his book Worked Over.

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And That Makes Two: US stocks fell for a second straight week, which hasn’t happened since April. The S&P 500 retreated 2.5% for the trading week through today’s close (Sep. 11), which left the index just above its 50-day moving average.

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The recent round of selling has taken a bite out of stocks around the world, but the year-to-date results continue to favor China’s equities by a wide margin, based on a set of US-listed exchange-traded products representing the major regions of the world through yesterday’s close (Sep. 10).

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Wildfires continue to rage across US West: BBC
Senate defeats a coronavirus stimulus bill: Reuters
Federal court blocks Trump order to exclude illegal immigrants from census: USAT
US economy recovering faster than expected, survey of economists reports: WSJ
Global economic rebound continues in Q3 but risk of slowdown looms: WSJ
UK economy continued to rebound in July: MW
China approves phase I human testing for nasal spray coronavirus vaccine: BBG
UK and Japan agree on trade deal–first major deal for UK since Brexit: CNBC
US jobless claims continued rising at worrisome pace last week: CNBC

The record decline in US output in the second quarter is expected to post a strong but partial recovery in the upcoming Q3 GDP report, according to several recent nowcasts compiled by CapitalSpectator.com.

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Trump admits to downplaying coronavirus risk: USAT
US official claims pressure to downplay Russian election interference: BBC
EU faces challenge of stronger euro as economy struggles to recover: BBG
EU and UK to hold emergency talks on UK plan to undercut Brexit: Reuters
World wildlife remains in “catastrophic decline,” report warns: BBC
China’s auto sales rose 6% in August vs. year-earlier level: BC
Record 2.5 million acres burning across the West: NYT
US job openings continued to rebound in July: Reuters

It was risk-off late last week, but today’s bounce in US stocks has the bulls cheering once more. The S&P 500 closed up 2.0% on Wed., Sep. 9. Although the gain was well below the high point of the day, it was strong enough to inspire forecasts that last week’s slide was one more temporary detour on the road to ever higher prices.

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