1 00:00:05,020 --> 00:00:29,219 JP Morgan Wins Permission for Full Control of a Securities Business in China JP Morgan Chase & Co. said it has won greater access to China’s markets with permission for a wholly owned securities business there, positioning it to offer investment and corporate banking, securities services, asset management. 2 00:00:29,219 --> 00:00:54,220 F.D.A. Aiming to Speed Vaccine Booster Shot for Immunocompromised Patients Worried about a vulnerable population as the Delta variant surges, administration officials are taking a new tack.A health worker prepared a dose of the Pfizer-BioNTech vaccine in August at FTX Arena in Miami. 3 00:00:54,220 --> 00:01:08,035 Working from home 'has helped me make my career' Young workers reflect on Rishi Sunak's comments they could forge stronger contacts in the office. 4 00:01:08,035 --> 00:01:34,021 Forexlive Americas FX news wrap: US jobs data adds over 1M jobs in July Forex news for North American trading on August 6, 2021 The awaited jobs report was released today at 8:30 AM ET, and it did not disappoint. The net change in nonfarm payroll jobs was 943K. 5 00:01:34,021 --> 00:01:50,086 US stock exchange sets diversity rules for listed companies The Nasdaq index will require all its listed companies to have diverse boards, or explain why they do not. 6 00:01:50,086 --> 00:02:02,494 Pres. Biden has extended the pause on student loan payments through January The pause will be the last according to the White House 7 00:02:02,494 --> 00:02:16,307 Covid – 19 vaccine booster might just be one time shot, not a yearly one According to FDA researcher Dr. Peter Marks 8 00:02:16,307 --> 00:02:36,152 David Beckworth on Powell and the Fed My colleague David Beckworth has a new NYT piece, here is one bit from it: Jerome Powell’s political skills also helped bring about a truly historic change at the Federal Reserve in 2020. 9 00:02:36,152 --> 00:02:59,180 S&P and Dow close at record highs. NASDAQ lags after strong jobs report. Yesterday the S&P and NASDAQ close record highs Whereas yesterday, the S&P and NASDAQ closed at record levels. Today the Dow and S&P are closing at records. 10 00:02:59,180 --> 00:03:29,480 Herbert Schlosser, a Force Behind ‘S.N.L.’ and ‘Laugh-In,’ Dies at 95 As a top NBC executive, he wrote a memo envisioning the show that became “Saturday Night Live.” He also helped recruit Johnny Carson and oversaw a raft of hit shows.The NBC executive Herbert Schlosser in his office at 30 Rockefeller Plaza in New York in 1977. 11 00:03:29,480 --> 00:03:55,420 Reconsidering Outdoor Travel in the West, as Wildfires Burn Excessive heat and wildfires could disrupt the booming outdoor travel industry, as travelers now have to take a hotter and longer fire season into account.Smoke from a wildfire filled Yosemite Valley in California’s Yosemite National Park. 12 00:03:55,420 --> 00:04:10,187 Why Do We Make Things So Hard for Renters? Relief came late, then slowly, and renters have been subject to political brinkmanship. We can do better. 13 00:04:10,187 --> 00:04:35,060 F.D.A. Aiming to Speed Extra Vaccine Doses for Immunocompromised Patients Worried about a vulnerable population as the Delta variant surges, administration officials are taking a new tack.A health worker prepared a dose of the Pfizer-BioNTech vaccine in August at FTX Arena in Miami. 14 00:04:35,060 --> 00:05:07,331 US consumer credit for June $37.69B vs est. $23.0B US consumer credit for June 2021 The credit number is the highest this year and highest going back to 2016 (at least). Typically, higher credit is indicative of a confident consumer.  In the current environment, stocks are higher, home prices are higher, job market is improving which can lead to more consumer spending on credit.    15 00:05:07,331 --> 00:05:29,099 What key releases and events will be released next week? Fed speak, treasury supply, US CPI and PPI data With the Fed back in play, hearing what members have to say will be of interest. In the US  CPI and PPI data, and treasury supply are also of interest. 16 00:05:29,099 --> 00:05:56,134 What emergency? The Biden administration just extended the moratorium on evictions until October (first implemented by the Trump administration). And yet when I look at the economic data, it’s hard for me to understand the motivation for this policy.  What emergency requires such an extreme infringement on property right? 17 00:05:56,134 --> 00:06:14,050 Earnings next week highlighted by Disney, Coinbase, AMC, EBay The earnings season is working toward an end but some key releases next week Below are the key releases on a day by day basis: Monday Tuesday 18 00:06:14,050 --> 00:06:30,150 JPMorgan’s punishment for currency rigging ends. Big banks that were accused of colluding to rig benchmark exchange rates could still face class-action lawsuits. 19 00:06:30,150 --> 00:07:01,445 WTI crude oil futures settle at $68.28 Down $0.81 or 1.17% The low for the day reached $67.80. The high reached $70.18. The price last Friday closed at $73.66. The move down took the settled price down -$5.38 or -7.3%. 20 00:07:01,445 --> 00:07:27,307 GBPUSD trying to stay below floor for the week. GBPUSD below the swing lows from Monday, Tuesday and Thursday The GBPUSD dipped below a swing area between 1.38715 and pair 1.38761, taking the the pair to a new session low for the week at 1.38605. 21 00:07:27,307 --> 00:07:58,464 How the Olympics Hurt Tokyo's Economy The Games failed to live up to their economic promise and cast a harsh light on Japan’s political culture. Some feel “a hunger for a new system.”Makoto Inoue borrowed heavily to open Ocho Taqueria in 2018, in the shadow of Tokyo’s new Olympic Stadium, hoping the location would attract visitors plus crowds of tourists for years to come.