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Manufacturing PMIs, Earnings on Tap as Market Drop Continues
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Manufacturing PMIs, Earnings on Tap as Market Drop Continues

Stock futures are pointing to a fifth straight day of losses as September trading gets underway…

Good morning contrarians! It is Thursday, September 1.

Stocks sold off yet again yesterday, dropping for the fourth straight day. Cleveland Fed President Loretta Mester said there wouldn’t be any interest rate cuts until 2024 at the earliest. Investors didn’t like that and the S&P 500 dropped by 0.8% on the day. The Nasdaq fared a little better, down 0.6%. Major U.S. indexes closed the month of August down more than 4%.

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The daily podcast discusses the major market activity and economic data release schedule for the day ahead, with a contrarian bent. Also includes regular podcast episodes a day (or more) early and without ads or announcements.