* US government shutdown risk in focus as House returns today
* US sets record in 2023 for weather disasters that cost $1 billion-plus
* US consumers worry about access to credit: NY Fed survey
* Central banks look set to keep rates elevated to tame inflation
* Change in policy at Bank of Japan could be factor in pushing up US yields
* US household wealth rises to record $154.3 trillion in Q2
* US small business optimism ticks lower in August, holding near decade low:
Global markets have enjoyed a strong rebound this year following 2022’s rout, but recent turbulence suggests that previous highs reached will remain elusive for the near term.
* Fed expected to pause rate increases in September and then reassess outlook
* US consumer spending set to peak, survey predicts
* Germany looks set to be only major European economy in recession this year
* China deflation eases in August as consumer prices rise
* Huge lithium deposit–key component in electric batteries–discovered in US
* Google antitrust trial re: its search engine business starts this week
* Wall Street cuts recession forecasts as US economy hums along:
Simon Schama
Review via The Economist
The first recorded vaccine—for smallpox—was administered by Edward Jenner, an English doctor, in 1796 to an eight-year-old boy, James Phipps. Jenner (pictured) took fluid from the lesions of a dairymaid who had become infected with cowpox and used it to inoculate Phipps against cowpox and smallpox.
That people could become immune to diseases after being exposed to them had been known for more than a thousand years before Jenner carried out his experiments. But the idea that people could be purposely infected as a way to ward off future illness, though ancient, took a surprisingly long time to spread and become accepted around the world.
Few assets confuse and confound the average investor as much as gold. But there’s an easy solution for cutting through the noise and thinking rationally about how the metal can fit into a broader asset allocation strategy: It’s money and should be treated as such.
* Biden’s options limited for preventing possible strike by auto workers
* Biden arrives at G20 meeting in India today–closer US-India ties on agenda
* The record-long slide in 1yr US home prices may be over
* Small- and mid-size business optimism rises to 21-Year High
* US banking industry “continues to face significant downside risks”: FDIC chair
* China’s currency falls to 16-year low vs. the US dollar
* Solar installations in US expected to reach record level this year
* US jobless claims fell to 7-month low last week:
Stronger headwinds may be brewing for the US economic outlook, but next month’s third-quarter GDP report looks set to post a moderately firmer growth rate, based on the median estimate via several sources compiled by CapitalSpectator.com.
* Tropical Storm Lee in Atlantic strengthens into a hurricane
* White House cancels remaining oil and gas leases in Alaska’s Arctic Refuge
* US inflation, wage growth expected to slow later this year: Fed Beige Book
* China exports fall again in August amid slump in trade activity
* US Service PMI in August shows weakest growth in 7 months, but…
* ISM Services Index reports faster growth–strongest reading in 6 months:
Financial markets have had a bumpy ride lately, inspiring fresh concerns that this year’s rebound from 2022’s sharp loss has run its course. It’s premature to dismiss that possibility, but a review of several sets of ETF pairs for markets still leave room for debate, based on prices through yesterday’s close (Sep. 5).
* Federal Reserve expected raise its US economic forecast this month
* Saudi Arabia extends oil output cut through end of the year
* China economic slowdown is a “top risk” for US, advise EY economists
* China bans iPhones and other foreign devices from use in government offices
* US consumer spending will slow but remain solid, predicts Goldman Sachs
* US factory orders fell sharply in July, first monthly decline since February:
