U S construction spending edges up in August
U S construction outlays rose 0.1 percent in August capping a string of weak readings for nonresidential work while home building posted a modest 0.9 percent gain the strongest since last November. Government construction rose 0.4 percent.
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U S manufacturing sinks to lowest level since 2009
ISM says September manufacturing index fell to 47.8 from 49.1, marking the lowest reading since June 2009. Weak demand and tariffs curb production and jobs as Wall Street reacts, with the Dow dropping over 200 points after the report.
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No guarantee small farms will survive says Ag secretary
U S Agriculture Secretary Sonny Perdue warned in Wisconsin that family dairy farms face survival risk as the industry shifts to factory farming. He said older smaller herds struggle amid low milk prices and looming profits, with Wisconsin losing 551 dairy farms in 2019 after 638 in 2018 and 465 in 2017.
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Markets Slide on Weak Factory Data Sparks global slowdown fears
Markets fell as ISM factory index dropped to the weakest since June 2009, sending stocks lower and boosting havens. S&P 500 down 1%, 10-year Treasuries near 1.64%, dollar softer. gold and yen up amid hopes of Fed rate cuts and global slowdown concerns. European shares also slid while euro modestly strengthened on Brexit backstop talk.
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TD Economics
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Katie Nixon
Northern Trust Wealth Management
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Jerome Powell
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European Union
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