August 31 (Thursday)

Latest Morning Briefing Executive Summary: Hooray! The Job Market Is Rebalancing
The stock market has proven resilient so far this week, rallying despite the Fed chair’s hawkish speech Friday. Several tailwinds have helped: The JOLTs report on Tuesday suggested the labor market is rebalancing, upping the odds that the Fed is done tightening. Joe’s data show that analysts have been raising earnings estimates in recent weeks for all future periods they forecast and that more companies’ outlooks have improved over the past three months than was true at the data’s recent low point last year. The rolling recession in goods-related industries looks poised for a rolling recovery soon. … Also: Loan growth has been falling in the US and Europe, but the US economy remains resilient.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 27.

Markets
China Stock Investors Hope Measures to Boost Confidence Will Spur Revival | B
European Stocks Buoyed by UBS | B

Central banks
Fed’s Bostic Urges Caution to Avoid Inflicting Unnecessary Pain | B
ECB’s Schnabel Sees Worsened Growth Outlook But Prices Stubborn | B
Euro-Zone Inflation Stops Slowing in Alarm Signal for the ECB | B
Traders Are Bailing on the Euro as End to ECB Rate Hikes Draws Near | B

US
Americans Likely Increased Their Spending Significantly Last Month | W
Will Inflation Keep Slowing? The Key Areas to Watch | N
Companies Are Using Fewer Temp Workers, but That Doesn’t Portend a Downturn | W
 
Europe
Eurozone Inflation Holds Steady at 5.3 Percent | N
Euro zone inflation unexpectedly steady in August but core drops | R
Euro zone price rises steady for August but core inflation declines further | C

China
China’s Economy Shows Fresh Signs of Weakness in Factories, Consumer Spending | W
Column: China’s PMI stays sluggish, but commodity imports are still robust | R
China economy: Factory activity in August shrinks for a fifth month | C
How Evergrande’s collapse foreshadowed China’s property crisis | R

Japan
Workers stage Japan’s first strike in decades over department store sale | R
 
Geopolitics & trade
China says drop in trade with U.S. is direct consequence of U.S. moves | C
The U.S. and China Are Talking Again. Where It Will Lead Is Unclear. | N
Raimondo’s China Tour Offers Glimmer of Hope to Battered U.S. Businesses | W
How China became king of new nuclear power, how U.S. could catch up | C

Industries & companies
Energy: Shell Silently Abandoned Its $100 Million-a-Year Plan to Offset CO2 Emissions | B
Media: How to stop Meta from using personal data to train generative AI | C
Tech: Robot invasion slows in the face of weaker US economy, high interest rates | R
Tech: Microsoft to Unbundle Teams Software in Europe | W
Tech: Chromebooks Were Once a Good Deal for Schools. Now They’re Becoming E-Waste. | W

Corporate finance
Shein faces scrutiny over forced labor before IPO | C

Artificial Intelligence
Baidu’s Ernie bot jumps to the top of Apple’s app store in China | C