Current Events Overview
The World Health Organization (WHO) has observed a record rise in coronavirus infections within a single day: BBC
As Tropical Storm Sally approaches, the Gulf Coast prepares for its impact: AP
Congress has one last opportunity to approve a stimulus bill before the elections: BBG
Trump has enacted an executive order aimed at reducing drug prices: Politico
California continues its fight against wildfires after nearly a month of battling flames: CNN
The next prime minister of Japan will be Yoshihide Suga, the Chief Cabinet Secretary: JT
Israel’s recent peace agreements indicate the start of a new era in the Middle East: NYT
In July, the Eurozone’s industrial output showed continued recovery: CAM
Oracle has emerged as the victor in the bid to purchase TikTok’s operations in the US: WSJ
Amazon plans to recruit 100,000 new employees: Reuters
Consumer inflation in the US rose for the third consecutive month in August: MW
Despite the increase, the Treasury market remains skeptical that the Federal Reserve can effectively raise inflation: BBG
By Jamie K. McCallum
Review via Vice
This data reveals that workers are more concerned about technology displacing them than about competition from immigrants. “Survey results indicate that American employees have more anxiety regarding being replaced by robots than by immigrants, are apprehensive about applying for jobs where algorithmic sorting occurs, and firmly believe that automation will adversely affect wages,” McCallum states in his book, “Worked Over.”
Market Update: US stocks have declined for a second consecutive week, a trend not observed since April. The S&P 500 dropped by 2.5% for the week ending September 11, leaving the index slightly above its 50-day moving average.
This recent wave of market selling has affected stocks globally; nevertheless, year-to-date performance trends favor equities in China significantly, based on metrics from US-listed exchange-traded products representing major global regions up to September 10.
Wildfires are ongoing across the Western United States: BBC
The Senate has rejected a coronavirus stimulus bill: Reuters
A federal court has blocked Trump’s order to omit illegal immigrants from the census count: USAT
Economists report that the US economy is recovering faster than anticipated: WSJ
There is ongoing risk of a slowdown even as a global economic rebound appears underway in Q3: WSJ
The UK’s economy showed consistent growth in July: MW
China has commenced phase I human trials for a nasal spray vaccine against coronavirus: BBG
The UK and Japan have reached an agreement on a trade deal, marking the first significant agreement for the UK post-Brexit: CNBC
US jobless claims saw an increase at a concerning rate last week: CNBC
The unprecedented decline in US output during the second quarter is expected to be followed by a significant but partial recovery, as projected in the upcoming Q3 GDP report, based on various nowcasts compiled by CapitalSpectator.com.
Trump acknowledges that he has downplayed the dangers of the coronavirus: USAT
A US official has alleged there has been pressure to minimize reports of Russian interference in elections: BBC
The EU faces challenges associated with a stronger euro while its economy struggles to recover: BBG
The EU and UK are set to hold urgent discussions regarding the UK’s plan that could undermine Brexit: Reuters
A report warns that the world’s wildlife is in a “catastrophic decline”: BBC
China’s auto sales saw a 6% increase in August compared to the same month last year: BC
Over 2.5 million acres are burning across the western region: NYT
US job openings continued to show positive growth in July: Reuters
Last week saw a risk-off sentiment, but today’s rebound in US stocks has rejuvenated optimism among investors. The S&P 500 rose by 2% on Wednesday, September 9. Although it didn’t reach its peak for the day, the increase was substantial enough to suggest that the dip of last week may just be a temporary setback in a rally toward higher prices.
Recently, I briefly addressed the concept of being cautious about the traditional stock-bond asset allocation’s effectiveness as a risk management tool. Let’s expand on this thought by examining alternative bond replacements within the classic 60/40 stock-bond portfolio.
The AstraZeneca Covid-19 vaccine study is currently on hold due to an adverse reaction experienced by a participant: STAT
Wildfires continue to blaze across three western states: CNN
Trump is expected to announce further troop reductions in Iraq: Reuters
Tensions have escalated on the India-China border as shots have been fired: NYT
US companies operating in China anticipate ongoing bilateral tensions for years ahead: Reuters
China’s consumer inflation has moderated to a 2.4% annual rate in August: SCMP
Oil prices have sharply declined due to increasing supply and decreasing demand: CNN
Consumer credit rose for the second consecutive month in July: BBG
The sentiment among small businesses in the US edged up in August, surpassing the 46-year average: NFIB
10-year US Treasury yield has been stagnant:
In this update, the article maintains its HTML structure while enhancing clarity and coherence. Each news snippet is presented succinctly for easy reading, and the overall flow has been improved to enhance engagement.
