— The U.S. Consumer Price Index slowed to a 2.9% annualized rate in July, the lowest level since 2021; while the three-year inflation outlook hit 2.3%, a low not seen since 2013.
— U.S. consumer spending jumped in July as retail sales were up 1% vs. 0.3% anticipated, led by higher sales in the automotive sector.
— S&P 500 earnings climbed 10.9% during the 2nd quarter of 2024 vs. 2nd quarter 2023 (with 90% of companies having reported), the highest level since the rebound from the pandemic in 4th quarter 2021.
— Japan’s economy rebounded strongly in 2nd quarter 2024, with 3.1% annualized growth after a series of no-growth or low-growth quarters with both domestic spending and exports ticking up.
— The Greenhouse Gas Protocol developed in the 1990s to govern emissions reporting is being rewritten; the giant tech companies are vying to influence what the new rules will be, especially in regard to electricity usage.
