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1. Saudi needs oil at $95 to balance its budget. 2. Adding domestic investments by the sovereign wealth fund, the figure rises to $112. If Oil price stays at this level ($77), deficits are likely to persist. Source: Bloomberg, @ZiadMDaoud on X

Federal Reserves faces up to 1 million US jobs "vanishing" in potentially the largest downward jobs revision in 15 years, according to Bloomberg Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month. While JPMorgan Chase & Co. forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million. There are a number of caveats in the preliminary figure, but a downward revision to employment of more than 501,000 would be the largest in 15 years and suggest the labor market has been cooling for longer — and perhaps more so — than originally thought. The final numbers are due early next year. Such figures also have the potential of shaping the tone of Fed Chair Jerome Powell’s speech at week’s end in Jackson Hole, Wyoming. Investors are trying to gain insight as to when and how much the central bank will start lowering interest rates as inflation and the job market cool. Source: Yahoo Finance, Bloomberg

NVIDIA $NVDA is on top followed by Apple $AAPL, Netflix $NFLX and then Monster Beverage $MNST. Alphabet ranks 11th just behind Salesforce $CRM. Source: Bespoke

Source: Barchart

The Democratic Party's official 2024 platform was released yesterday (Monday) on day one of the Democratic National Convention, without any mention of Bitcoin or cryptocurrency. This decision aligns with the past four years of the Biden-Harris administration's hostility towards the industry. Despite the growing significance of Bitcoin and digital assets, neither Kamala Harris or Tim Walz, who are running for president and vice president in the upcoming election this November, has prioritized the inclusion of Bitcoin and crypto in the party's agenda. Source: Bitcoin magazine, www.zerohedge.com

Over the last 30 years, the purchasing power of the US consumer dollar has been cut in half due to inflation. At the same time, the SP500 has gained 962% (8% per year) after adjusting for inflation. Source: Charlie Bilello

The DAX Index has now rebounded more than 8% since the lows on August 5th! Keep an eye on the supply zone between 18,430-18,565. Source: Bloomberg

Looking at historical returns, it is rarely a big deal for markets. Will this time be different? Source: The Transcript