ADP: US private payrolls rose just 54K in August, down from 106K in July
That's below consensus estimates of 68k, that’s well below the 2010–2025 average of 148K. For context: the series hit a record 1.25M in Aug ’21 and plunged to -6.1M in April ’20.
U.S. Top 10 Tech Giants Reach $22 Trillion Market Cap in August 2025
As of August 29, 2025, the combined market capitalization of ten leading U.S. tech companies: Alphabet, Amazon, Apple, Broadcom, Meta, Microsoft, Netflix, Nvidia, Oracle, and Tesla, hit a record $21.95 trillion, representing roughly one-third of the U.S. equity market. From 2012 to 2025, their market cap grew at a 23% compound annual growth rate (CAGR), underscoring their dominant role in shaping market performance. Source: Econovis
With the Fed’s reverse repo facility nearly drained, the system now leans on reserves as the main buffer.
Right now, they sit at ~$3.2T, which the Fed still calls “ample.” Governor Waller has suggested ~$2.7T is a safe floor, while Barclays sees end-September reserves sliding closer to that line. The problem? Treasury bill issuance and QT are still pulling cash out each month. With no RRP cushion left, every dollar matters more and once reserves fall into the danger zone, stress tends to show up fast in repo markets, auctions, and short-term funding. Source: StockMarket.News @_Investinq on X
BREAKING: Trump tells Xi Jinping to 'please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America.'
Source: The Spectator Index @spectatorindex on X
Based on forward P/E, US equities are trading at a 53% premium relative to the rest of the world
Source: Augur Infinity
20-year US Treasuries are down ~38% since 2020, the worst drawdown in over a century
What was once seen as the world’s “safest” asset has instead delivered stock-like volatility. Deficits, inflation, and weak demand are forcing long yields higher. Source: stockmarket.news on X
Tariffs are forcing countries to make new partnerships
Do you remember the proverb? "The enemy of my enemy is my friend" Source: @krassenstein on X
US consumer sentiment across income levels
An interesting perspective by Morning Consult. Source: Barchart
