• Recent Jobless Claims Fall - Initial claims for state unemployment benefits dropped to 209,000 for the week ended August 17, 2019, falling sharply from the week before.

• Brexit Crisis Still Uncertain - British lawmakers will try to stop Boris Johnson from pursuing what they cast as a “calamitous no-deal Brexit”.

• New Wave of Tariffs in Trade War - The new tariffs are a sharp escalation in the trade war, and could cost U.S. households $800 a year.

• Economy is Steady - The economy added 164,000 nonfarm payrolls in July, as expected. Wages rose 0.3% in July, or 3.2% year over year.

• Yuan Falls - The yuan fell 1.4% which breached the key 7-per-dollar level for the first time since 2008.

• HSBC CEO Out - HSBC chief John Flint is stepping down after less than two years on the job.

• Stocks Steady amid Threatened Tariffs - Stocks were steady today after the U.S. threatened a new wave of tariffs on European goods, dulling recent optimism surrounding the U.S.-China trade truce.

• GE in Decline - GE's (GE) stock decline, down by nearly two-thirds since the end of 2016, has knocked the company down to the 59th most valuable in the S&P 500.

• OPEC, Allies Extend Supply Cut - OPEC and its allies agreed to extend oil output cuts until 3/20, seeking to prop up the price of crude as the global economy weakens and U.S. production soars.

• U.S. Stock Market Futures Fall - U.S. stock index futures fell Monday, after the China and U.S. trade relationship “intensified” over the weekend.

• U.S. Inflation Ticks Up - U.S. consumer prices increased in April, which could support the Fed’s contention that recent low inflation readings were temporary and allow the Fed to keep interest rates unchanged for a while.

• Factory Activity Slows - An escalating trade war between the U.S. and China raised fears of a global economic downturn and put pressure on policymakers to roll out more stimulus.