We have a lot of news this week—see the Econoday calendar—but the norm is to attend to the ADP private sector jobs report on Wednesday, the Challenger jobs report on Thursday and the bazooka, the Sept monthly jobs report on Friday. While the numbers are still grim and recovery is still seen as stalling, the proof of the pudding will come on Oct 13-14 when Amazon holds one of its Prime Days. If US consumers are still greedy for material goods, that’s when we see it.
All the same, the divide between the Haves and the Have-Nots is growing. Here’s a sobering piece from the WSJ: “More homes are going dark as moratoriums on utility shut-offs end. Of the 36 states that issued moratoriums on utility shut-offs for people who couldn’t pay their bills since the pandemic started, 14 have already expired. Between now and mid-October, an estimated 24