Pvogle

MARKET UPDATE: 1. NASDAQ now in correction 2. S&P 500 ~3.5% from correction 3. Volatility (VIX) up +53% today (+100% in 3 weeks) 4. "Magnificent 7" swing +$3 trillion in 3 weeks 5. Some "Magnificent 7" stocks DOWN -20% from highs 6. U.S. unemployment rises to 4.3% 7. Gold hits record high 8. Oil at 6-month low 9. U.S. in recession signaled by Sahm Rule triggered today 10. Markets expects FED to make THREE consecutive 25bps rate cuts in Sep, Nov, Dec. Wild times.

Kamala unscripted for the first time as the installed Democrat nominee and it goes about as well as you’d imagine. Please talk more Kamala!

🚨JUST IN: U.S. RECESSION UNDERWAY. According to the Sahm Rule it is. Named after FED economist Claudia Sahm: a recession is likely if the unemployment rate (3-month avg) rises by 0.5% from its low. Bloomberg reports it has been triggered. “Three-month average for the unemployment rate is 4.1%, which is 50bps higher than the 12 month low” Triggered in every U.S. recession since 1970, with only two false positives (1959 and 1969) which were just premature by a few months. Probably nothing.

House Democrats are fighting to build an economy that works for everyday Americans. It’s not enough for people living check to check to simply get by. We want all hardworking American families to get ahead.

BREAKING: US economy adds 114,000 jobs in July, BELOW expectations of 176,000. The unemployment rate rose to 4.3%, ABOVE expectations of 4.1%. This marks the highest US unemployment rate since November 2021. The labor market is beginning to crack.