Client Login




  • Nonfarm payrolls increased by a seasonally adjusted 151,000 last month.
  • The unemployment rate was 4.9%, the same as in July.
  • Investors largely expect the next U.S. interest-rate rise to take place in December.
  • Oil halted four days of declines as Vladimir Putin said he’d like Russia and OPEC to reach an output freeze.


Samsung to Recall Galaxy Note 7 Smartphone Over Reports of Fires

  • In one of the biggest global recalls of smartphones, Samsung said it would replace Galaxy Note 7 devices because of reports of battery fires.
  • Samsung said it had shipped 2.5 million units of the Galaxy Note 7 since its launch on Aug. 19.
  • The phone has a suggested retail price of more than $800 in the U.S.

SpaceX Explosion Destroys Facebook Satellite

  • Satellite was part of effort to provide internet access to people in sub-Saharan Africa.

Yum Brands Sells Slice of China Business Ahead of Spinoff

  • KFC, Pizza Hut owner to sell $460 million stake to Chinese deal maker Fred Hu and Alibaba financial affiliate.
  • Chinese e-commerce giant Alibaba, together with its financial affiliate, has carved out territory in China’s competitive online food-delivery and booking-services market.
  • Alibaba and Ant Financial together made a $1.25 billion bet on food-delivery app in April.

Wsj Fig

Caterpillar Considers Closure of Belgium Plant

  • The heavy-machinery maker has started a process that may result in the closure of its Gosselies plant and the loss of 2,000 jobs.
  • Caterpillar previously said it would cut an unspecified number of additional jobs later this year on top of the more than 10,000 it had already planned to eliminate through 2018.
  • Caterpillar’s workforce has fallen by 20%, or more than 30,000 jobs, since the end of 2012.

HP Enterprise Seeks Buyer for Software Operations

  • The deal that could be valued at as much as $10 billion, the latest in a series of moves to narrow its focus.
  • The unit being offered for sale makes software to manage business operations.
  • The company plans to keep software businesses associated with pieces of customers’ key technology infrastructure—such as software-defined networking.

Back to Top


U.S. Payroll Growth Slowed in August; Jobless Rate Held Steady

  • Health-care, hospitality sectors added jobs, while manufacturing lost positions.
  • Nonfarm payrolls rose by a seasonally adjusted 151,000 last month.
  • U.S. employers have added jobs at a 182,000 monthly pace so far this year.
  • The unemployment rate, calculated from a separate survey of American households, was 4.9% in August, unchanged from July.
  • Average hourly earnings for private-sector workers rose by 3 cents, or 0.1%, in August from July to $25.73.
  • From a year earlier, average hourly earnings were up 2.4%.
  • The labor-force participation rate held steady at 62.8% in August.
  • The figure has been hovering near the lowest levels in almost 40 years, partly because the Baby-Boom generation is retiring, but also because some younger workers have given up on finding a job.


U.S. Trade Deficit Narrowed Sharply in July

  • The U.S. trade deficit fell more than expected in July as exports rose to their highest level in 10 months.
  • Trade gap narrowed 11.6% from a month earlier as exports rose to a seasonally adjusted $39.47 billion.
  • The June deficit was revised to $44.66 billion from $44.51 billion.
  • Exports of goods and services rose 1.9 percent in July to $186.3 billion, the highest since September 2015.
  • Exports to the European Union dropped 9.5 percent, with goods shipped to the United Kingdom falling 9.2 percent.
  • Exports to China increased 3.8 percent.
  • Imports of goods and services slipped 0.8 percent to $225.8 billion in July.
  • Imports from China rose 2.4 percent.

US Factory Orders Surged 1.9% in August

  • Following declines of 1.2% and 1.8% in May and June, orders in August had their best gain since October.
  • Orders for core capital goods (nondefense ex-aircraft) were especially strong in July, up 1.5 percent.
  • Aircraft, which is always volatile in this report, is July’s biggest plus, surging 90 percent in the month.
  • But vehicles are a negative in the report, down 0.5 percent.
  • Other negatives include factory shipments which slipped 0.2% and include a 0.5% decline in shipments of core capital goods.
  • Factory inventories are stable and lean, edging 0.1 percent higher in the month to keep the inventory-to-shipments ratio unchanged at 1.35.

U.S. set to approve sales of Boeing fighters to Qatar, Kuwait

  • The United States is poised to sell $7 billion worth of Boeing fighter jets to Qatar and Kuwait after years of delays, and it may start notifying U.S. lawmakers as early as next week.

Back to Top


China launches anti-trust probe into Comcast, DreamWorks deal

  • China’s commerce ministry will launch an anti-monopoly probe into Comcast’s planned purchase of DreamWorks Animation after receiving unspecified complaints that the U.S. media deal could hurt competition in the Chinese market.
  • Comcast, owner of NBCUniversal, said in April it would pay $3.8 billion to buy DreamWorks, the producer of the “Kung Fu Panda” and “Shrek” franchises.
  • China’s film market, the world’s second largest, is a magnet for film producers looking to tap the country’s 1.4 billion people, even though there are signs that stellar box office growth may be starting to slow.

Louis Vuitton targets middle-income shoppers with perfume launch

  • Louis Vuitton has launched its first perfume range since the founding merger of its parent LVMH in 1987.
  • Louis Vuitton’s collection of seven perfumes, with names including “turbulences” and “matiere noire” or “dark matter,” are on sale for around 200 euros ($224) for a 100 ml bottle.
  • Until now, shoppers on more modest incomes have only been catered for by Louis Vuitton’s key chains and very small leather goods, costing around 200-300 euros apiece.

Russia aiming for over $11 billion from Rosneft stake sale

  • On Friday, Economy Minister Alexei Ulyukayev said his ministry had received documents needed to kick start the sale of 19.5 percent in Rosneft, including a valuation and proposals on terms of sale.

Japan may invest $10 billion in Russian oil firm Rosneft: Nikkei

  • Japan will propose a broad cooperation in the energy sector with Russia that could include a nearly $10 billion investment in Russian state-owned oil giant Rosneft.

Japan asks European aviation agency to ensure safety of Rolls-Royce 787 engines

  • Japan has asked the European Aviation Safety Agency to ensure a problem with Rolls-Royce engines powering Boeing 787 Dreamliners does not repeat to cause flight disruptions or affect safety.
  • Since February, three ANA flights have experienced engine trouble, once on a flight from Kuala Lumpur to Tokyo, a second time in March on a jet traveling to Vietnam and most recently on a domestic route in August.
  • Of around 450 Dreamliners in operation worldwide, two fifths use the Rolls-Royce engines.

Back to Top



The great fire of London broke out, destroying much of the city, including St. Paul’s Cathedral (1666)


The U.S. Treasury Department was established (1789)

Back to Top

This information has been prepared from sources believed to be reliable, but no representation is being made as to its accuracy or completeness. The information provided should be used only as general information and is not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in the material may not develop as predicted. All indices, such as the S&P 500, are unmanaged and may not be invested into directly. Sources: Reuters, Bloomberg, Wall Street Journal.

Content posted by third parties on this site is screened in order to protect clients’ privacy and comply with regulatory requirements. Content containing sensitive personal information, inappropriate language, information about specific investments, misleading information, information about other companies or websites, or information related to litigation will be removed. Content posted by third parties on this site remains the responsibility of the party posting the content and is not adopted or endorsed by Pence Wealth Management or LPL Financial. Any opinions or statements posted by third parties are their own and may not be representative of the experience of others and are not indicative of future performance or success. Third party content on this site does not reflect the views of LPL Financial and have not been reviewed by LPL Financial as to accuracy or completeness.

, , , ,

Comments are closed.

All Financial Consultants at Pence Wealth Management are Registered Representatives with, and securities and Advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA & SIPC. Financial Planning offered through Pence Wealth Management, a Registered Investment Advisor and separate entity from LPL Financial. The LPL Financial representative associated with this website may only discuss and/or transact securities business with residents of the following states: Alaska (AK), Alabama (AL), Arkansas (AR), Arizona (AZ), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Kansas (KS), Kentucky (KY), Louisiana (LA), Massachusetts (MA), Michigan (MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV),

New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Texas (TX), Utah (UT), Virginia (VA), Washington (WA), Wyoming (WY), Washington (DC)

Laila Marshall-Pence CA Insurance Lic# 0545421