💼 𝗠𝗮𝗿𝗸𝗲𝘁 𝗪𝗮𝘁𝗰𝗵: 𝗪𝗵𝗮𝘁'𝘀 𝗔𝗵𝗲𝗮𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗖𝗼𝗺𝗶𝗻𝗴 𝗪𝗲𝗲𝗸
▪️ 𝗖𝗵𝗶𝗻𝗮 𝗗𝗮𝘁𝗮
China is set to release the August Caixin manufacturing PMI data on Monday, which is expected to return to expansion territory after contracting in July. However, government data released on Saturday revealed that Chinese manufacturing activity fell to a six-month low in August, with factory gate prices dropping and businesses struggling to secure orders. This adds to the ongoing pressure on Beijing to introduce more economic stimulus measures to boost household demand.
After a weak second quarter, China's economy continued to lose momentum in July. Policymakers have indicated a strategic shift from heavy infrastructure investment to focusing stimulus efforts directly on households.
▪️ 𝗨.𝗦 𝗝𝗼𝗯 𝗗𝗮𝘁𝗮
As the Federal Reserve prepares to cut interest rates for the first time in years, investors are closely watching Friday August nonfarm payrolls report for insights on how aggressively the Fed might act. Fed Chair Jerome Powell has indicated that it's time to reduce interest rates, with markets anticipating a 25-basis point cut at the September 17-18 meeting.
Signs of labor market weakening could reignite recession fears, which previously unsettled markets in late July and early August, exacerbated by the Japanese yen carry trade. Before Friday's report, there will be key updates on the labor market, including Wednesday's Jolts job openings report, which also covers layoffs, and Thursday's ADP data on private sector hiring and initial jobless claims.
▪️ 𝗘𝗮𝗿𝗻𝗶𝗻𝗴𝘀 𝗥𝗲𝗽𝗼𝗿𝘁𝘀
This week is expected to see low activity in earnings reports. For our portfolio, the only significant event is the ex-dividend date for $BAC (Bank of America Corp) .
𝗥𝘂𝗶 𝗛𝗲𝗻𝗿𝗶𝗾𝘂𝗲𝘀
𝑷𝒐𝒑𝒖𝒍𝒂𝒓 𝑰𝒏𝒗𝒆𝒔𝒕𝒐𝒓
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