— The U.S. economy added 142,000 jobs in August, up from just 89,000 in July, but fewer than expected; the unemployment rate dipped slightly to 4.2%.
— A key measure of U.S. manufacturing activity showed ongoing contraction in August, increasing odds of the Fed lowering interest rates next week.
— President Biden indicated he will block the sale of U.S. Steel to Japan’s Nippon Steel, with the steelworkers’ union and both presidential candidates also opposing the deal.
— Consumer inflation in China was just 0.6% annualized in August, and producer prices fell by 1.8%, the 23rd consecutive month of decline, adding to deflation concerns.
— In Europe over the past two years, twice as much has been invested in funds focused on the transition of “dirty” industries (fossil fuels, utilities) than in “already green” projects.
