World Cup Hangover Triggers Retail Sales Slump In July, K-Shaped Economy Waning

Americans' Confidence Dips In August As Chicago PMI Plunges Into Contraction The MNI Chicago PMI for August was a disaster, printing below even the worst analyst's expectations. Against expectations of a rise to 57.9, the headline print crashed from 57.6 to 47.1 (flashing recession signals)... Prices paid accelerated while the overall business barometer plunged into contraction. That is the biggest MoM drop since COVID... However, in the face of that collapse in business confidence, UMich reported US consumer sentiment fell in August for the first time in three months on a worsening economic outlook,...

"Significant" Tornado Threat Incoming For DC To Baltimore To Philadelphia Senior meteorologist Matthew Cappucci of private weather forecaster MyRadarWX is monitoring the potential for isolated tornadoes along the Interstate 95 corridor, from areas north of Washington, D.C., through Baltimore and Wilmington, Delaware, and into the Philadelphia metro area. Tornadoes are not unheard of in the Mid-Atlantic, but a potential setup later this afternoon capable of producing multiple tornadoes across a large swath of Maryland, Delaware, and southeastern Pennsylvania would be unusual. "Mid-Atlantic gang – can't rule out an isolated tornado this afternoon...

Ringing The Bell: Meta Plunges On Report It May Sell "Tens Of Billions" In New Stock They don't ring the bell at the top, but they sure do sell a lot of stock. With SpaceX, Anthropic and OpenAI looking to IPO hundreds of billions in common stock (not counting even more hundreds of billions in lock up expirations that will hit the market soon)... ... coupled with Google's record $80 Billion follow on offering (of which half was a memestock-esque At The Market offering direct to retail), suddenly the cash-incinerating AI companies...