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Economy
🚨JUST IN: CANADAS UNEMPLOYMENT RATE JUMPS TO +6.6%. THE HIGHEST SINCE 2017 (OUTSIDE OF COVID)
NOT GOOD.
LETS HOPE THEY CAN TURN THIS AROUND. pic.twitter.com/lIFQT2r9yj
— Genevieve Roch-Decter, CFA (@GRDecter) September 6, 2024
The unemployment rate falling to 4.2% was some decent news here.
It's unlikely that this particular jobs report will sway the Fed's decision strongly.
The countdown to the Fed meeting begins now.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) September 6, 2024
Two stats are everything you need to know about the August jobs report:
Jobs for native born Americans over the last year: -1.3 million
Jobs for foreign-born workers over the last year: +2 millionFull time jobs: -438,000
Part times jobs: +527,000— Greg Price (@greg_price11) September 6, 2024
At this point, the jobs data might as well be released on a 1-month lag.
Effectively, the initially reported numbers are meaningless this year.
Markets are finally starting to catch on to this right now.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) September 6, 2024
The jobs numbers keep dropping & by a lot. BLS revised June’s initial number down 43% & July 22% – so far. If the Fed wants insight on how dismal the Biden- Harris labor market is, best look at June’s and July’s numbers because the numbers for August are very likely overstated! pic.twitter.com/rZwdFamhUo
— Andy Puzder (@AndyPuzder) September 6, 2024
Biden finally admits the so-called "Inflation Reduction Act" was never about reducing inflation pic.twitter.com/9V7u0FJxnV
— Trump War Room (@TrumpWarRoom) September 5, 2024
Kamala Harris is proposing one of the largest overall tax hikes in American history including a tax on unrealized gains, which even Democrat Mark Cuban says will “kill” the stock market. pic.twitter.com/Ykna9xSRPA
— Charlie Kirk (@charliekirk11) September 6, 2024
As expected, volatility has returned and continues to accelerate.
We continue to look for opportunities to trade the moves in both directions in our premium service.
Subscribe at the link below to see how we are positioning ahead of the weekend:https://t.co/SJRZ4FrfLE
— The Kobeissi Letter (@KobeissiLetter) September 6, 2024
Trump floats US sovereign wealth fund as part of economic pitch
Source: rollcall.com
Understanding Sovereign Wealth Funds (SWFs)