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  1. New Gallup Poll Shows 57% Of Americans...

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Trade Idea of the Day Presented by: Zero Hedge

Goldman Cuts Oil Price Target From $50 To $43 On Rising Global Surplus

While we await every new headline out of Algiers, overnight Goldman threw in the towel on its "transitory" oil market bullishness, and in a note by Damien Courvalin looking "Beyond Algiers, Weakening Oil Fundamentals", the bank cut its Q4 oil price target from $50 to $43, as the bank admits the... Read More

End Of An Era: BlackBerry To Stop Making Smartphones

The age of the iconic keyboard-ed smartphone is over as BlackBerry's John Chen confirmed that the firm will stop developing hardware in-house as its pivot to software shows “signs of momentum”. BlackBerry has completely outsourced smartphone design and production, a process that Chen had been doing piecemeal since taking over as CEO almost three years ago. Analysts had been holding their breath for the news after Chen said September was his deadline for making the chronically money-losing device business profitable. BlackBerry’s device business, which it calls "Mobility Solutions," will focus on...

House Reaches Deal On $170MM Aid To Flint To Avoid Government Shutdown

Nancy Pelosi and Paul Ryan have seemingly reached a deal to keep the federal government running for another 3 months. A deal was originally delayed over a dispute on funding for the water crisis in Flint, Michigan, Zika funding for Florida and aid to flood victims in Louisiana. The agreement struck between Ryan and Pelosi ultimately will provide $170 million to help Flint and other cities with water emergencies which would be added as an amendment to a separate water projects bill...

Consumer Confidence Is The Highest In 9 Years (& The Lowest Since 2015)

Just days after Bloomberg's Consumer Comfort index plunged to its lowest since 2015, The Conference Board reports a spike in Consumer Confidence to 104.1 - the highest since Sept 2007 (right before the market topped out). Consumers' assessment of current conditions improved in September. Those stating business conditions are "good" decreased from 30.3 percent to 27.4 percent. However, those saying business conditions are "bad" declined from 18.2 percent to 16.2 percent. Consumers' appraisal of the labor market was more positive than last month...

AIA: Architecture Billings Index declines in August

On the heels of six out of seven months of increasing levels of demand for design services, the Architecture Billings Index (ABI) fell just below the positive mark. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the August ABI score was 49.7, down from the mark of 51.5 in the previous month. This score reflects a decrease in...

Housing Starts decreased to 1.142 Million Annual Rate in August

Housing Starts: Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,142,000. This is 5.8 percent below the revised July estimate of 1,212,000, but is 0.9 percent above the August 2015 rate of 1,132,000. Single-family housing starts in August were at a rate of 722,000; this is 6.0 percent below the revised July figure of 768,000. The August rate for units in buildings with five units or more was 403,000. Building Permits: Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of...

Hotels: "Demand Growth Slows, Supply Growth Increases"

The U.S. hotel industry recorded mixed results in the three key performance metrics during the week of 4-10 September 2016, according to data from STR. In year-over-year comparisons, the industry’s occupancy fell 1.4% to 62.8%. However, average daily rate increased 1.8% to US$118.58, and revenue per available room was nearly flat (+0.3% to US$74.45). emphasis added The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average...

Fed: Industrial Production decreased 0.4% in August

Industrial production decreased 0.4 percent in August after rising 0.6 percent in July. Manufacturing output also declined 0.4 percent in August, reversing its increase in July; the level of the index in August is little changed from its level in March. Following two consecutive monthly increases, the index for utilities fell back 1.4 percent in August. Even so, the index was 1.7 percent above its year-earlier level, as hot temperatures this summer boosted the usage of air conditioning. The output of mining moved up ...

Retail Sales decreased 0.3% in August

On a monthly basis, retail sales decreased 0.3 percent from July to August (seasonally adjusted), and sales were up 1.9% from August 2015. The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $456.3 billion, a decrease of 0.3 percent from the previous month, and 1.9 percent above August 2015. ... The June 2016 to July 2016 percent change was revised from virtually unchanged to up 0.1 percent...

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