Greetings,
Before we begin, we wanted to alert you to one of our favorite weekend reads: the Weekly S&P500 ChartStorm by Callum Thomas — it features 10 handpicked charts on the US stock market covering macro, technicals, valuations, and more — it’s a quick and effective way to stay on top of the market outlook.
The United States: The services PMI index from S&P Global declined in July but remained in growth territory (PMI > 50). Business outlook and hiring softened.
Labor market imbalances continue to ease as job openings moderate.
Equities: The S&P 500 PE ratio has diverged from real yields.
This is the first US non-revolving debt contraction in 12 years, underpinned by tighter lending standards.
The United Kingdom: The US-UK 10-year spread is tightening.
The Eurozone: The euro-area composite PMI shows shrinking business activity.
Commodities: Orange juice futures hit a record high.
Food for Thought: Here are weekend box office gross proceeds:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
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