— The U.S. economy grew a strong 3% in the 2nd quarter (per 2nd revised estimate) and U.S. consumer spending was up a solid 0.5% in July, bolstering argument that Fed will cut interest rates by just 25 basis points in mid-Sept.
— Pending sales of U.S. homes in July were down 8.5% from the previous year, with the Pending Home Sales Index slipping to 70.2, the lowest reading since tracking began in 2001.
— U.S. consumer sentiment climbed in August for the first time in five months (from 66.4 to 67.9 on key index) on lower inflation and potential interest rate cuts.
— Lower inflation in the Eurozone is making more likely the European Central Bank will also lower interest rates in September, along with the Federal Reserve.
— Companies are preparing to meet California reporting rules for “Scope 3” supply chain emissions of greenhouse gases; a recent survey showed 37% are asking their suppliers to self report, 80% are providing suppliers and partners with templates, and 13% are using software to gather data.
