For the first time in the last 4 years, the number of unemployed people exceeds the number of jobs opening in the US. This change underlines significant slowdown in labour demand creating a stark contrast to the peaks of the “Great Resignation” era of 2021 and 2022. With this steady decline in job openings and a simultaneously increasing unemployment rate, this signals a transition into a more competitive labour market with restricted career agility and stronger employer levies in hiring negotiations.

Home sales are quickly approaching record high territories, closing in on the ones seen before the 2008 financial crisis driven by the lasting supply and demand imbalance. On the supply side, only100,000 apartments are built annually, representing just one third of the required amount to meet market needs. Furthermore, on the demand side, robust economic growth, tourist booms, and rising migration are intensifying competition for available properties. As a result, the housing price index now stands just 3.2% below its pre-crash peak in 2008.

Looking at the data from the past decade, the S&P 500 and MSCI All-Country World Index have averaged a -2% return during the month of September. With stocks falling 4 of the last 5 Septembers and the steepest drop exceeding 9% in 2022, September is the historically weakest month for global equities. This recurring phenomenon is referred to as the ‘September Effect’.

American Eagle $AEO shares just had their best day in history gaining 37.9%. The US based clothing and accessories retailer declared its partnership with Sydney Sweeney as its “best” advertising campaign to date. This surge reflects the renewed investor confidence, with trading volume spiking as markets react to the brand’s strong momentum.

This chart from Goldman Sachs underscores the remarkable dominance of the US over the past 25 years. Ever since the peak preceding the global financial crisis, US corporate profits soared by 166%, clearly outperforming any other regions. In sharp contrast, the Eurozone has seen marginal growth, with profits in the same sectors rising only by 8%, highlighting a striking disparity in performance.

Russia and China have approved the Power of Siberia 2 pipeline project but have yet to finalise pricing terms, Gazprom announced on Tuesday, highlighting President Xi Jinping’s continued defiance of Western pressure to scale back ties with Moscow.

The pipeline, expected to deliver up to 50 billion cubic meters (bcm) of gas annually from the Yamal Arctic gas fields, crossing Mongolia and arriving in China, strengthens Beijing’s diversification in energy sources while reducing its reliance on US liquefied natural gas. Unlike previous lines tapping in Asia-facing reserves, this new route redirects gas that was once destined for Western Europe straight into China.

After years of negotiations, Gazprom’s strategic pivot towards China now appears firmly locked in place. 

Tesla’s Robotaxi app has already overtaken Uber on the App Store, taking the #1 spot in the travel category. Strikingly, over 99% of current users are still not able to access its full functionality. This surge in downloads underscores the immense anticipation surrounding Tesla’s autonomous services, signalling a strong potential demand once the platform officially launches.