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Aug 5, 2016

European Markets at Close Report, by CNBC on August 5, 2016

Europe ends on a high note after US adds 255K jobs; earnings dominate

NYT First Draft - August 5, 2016: Donald Trump and Mike Pence Again on Endorsements, by Alexander Burns and Noah Remnick

Friday, August 5, 2016

The New York Times

The New York Times

Friday, August 5, 2016

Donald J. Trump signing autographs on Thursday after his speech in Portland, Me.
Donald J. Trump signing autographs on Thursday after his speech in Portland, Me. Brendan Bullock for The New York Times
Donald Trump and Mike Pence Again Diverge on Endorsements

U.S. Stock Market Future Indications Update, by MarketWatch - August 5, 2016

U.S. stock futures jump after stellar jobs report

Anora Mahmudova, Sara Sjolin

BLS News Release - August 5, 2016: Payroll Employment Increaser by 255,000 in July, Unemployment Unchanged at 4.5%

Bureau of Labor Statistics

Payroll employment increases by 255,000 in July; unemployment rate unchanged at 4.9%

Total nonfarm payroll employment rose by 255,000 in July, and the unemployment rate was unchanged at 4.9 percent. Job gains occurred in professional and business services, health care, and financial activities. Employment in mining continued to trend down.

BEA News Release - August 5, 2016: The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $44.5 billion in May, up $3.6 billion from $41.0 billion in May, revised....

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

RT Max Keiser Report : Myth of Millennial Entrepreneur (E948) (ft. Gerald Celente) - Originally Published on August 2, 2016

DealBook Morning Edition on August 5, 2016: Keeping the ‘Darlings’ Out of the Courtroom

The New York Times
Keeping the ‘Darlings’ Out of the Courtroom “Don’t raise your voice at me. It’s not becoming of a woman.” “Honey.” “Darling.” “You either run with the nannies or you run with the wolves.” A pat on the head. An arm around the shoulder.

Bloomberg View - August 5, 2016: The Company That Donald Trump Keeps

Timothy L. O'Brien

With Donald Trump's skeletal presidential operation navigating rough waters, how might he steer his ship back on course? He could try taking his own advice and begin building relationships with respected, trustworthy advisers and fellow politicians.

U.S. Stock Market Future Indications, by MarketWatch on August 5, 2016: U.S. Stocks Set for gains as Traders Brace for Upbeat Jobs Reports Stocks

Sara Sjolin

Asian Markets at Close Report, by MarketWatch on August 5, 2016: Asian Markets Rev Up After BOE Aggressive moves

Kenan Machado

A previous version of this story gave an incorrect move for the pound. The story has been corrected.
AFP/Getty Images
Asian stock markets took off in early trading Friday.
Asian shares rose Friday, driven by the Bank of England’s aggressive stimulus measures, but with traders keeping a wary eye on U.S. jobs data due later in the global trading day.
The Nikkei Stock Average NIK, +0.00% was up 0.1%, while the S&P ASX/200 XJO, +0.39%   trading 0.4% higher. Korea’s Kospi SEU, +0.90%   was up 0.9%. Hong Kong’s Hang Seng HSI, +1.44%   rose 1.4%. The Shanghai Composite SHCOMP, -0.19%  dropped 0.2%.
The Bank of England on Thursday cut its benchmark interest rate to 0.25% from 0.5%, the lowest in its 322-year history. It expects to cut the rate further in the months ahead. The central bank also revived a U.K. government bond-buying program, also known as quantitative easing, that has been on pause since 2012, and said it would begin buying corporate bonds.
That pushed the pound GBPUSD, +0.3357%   sharply lower against other currencies, dropping 1.6% against the dollar at the end of the U.S. trading day Thursday. It was relatively flat at $1.312 in morning Asian trade. Despite the overnight rally in the ICE U.S. dollar index, Asian currencies were largely stable. Yields on the 10-year U.K. government notes sank to a record low of 0.64% in U.S. trading.
“Surprising the market was always going to be a tall order,” said Timothy Graf, head of macro strategy at State Street Global Markets EMEA. “But it looks like the Bank of England has done just that.”
Central banks across the world are using the room they have to lower interest rates and buy bonds, among other measures, to nudge their economies to growth.
Australia’s central bank Friday signaled further interest rate cuts are likely as inflation may be below its 2%-3% target until the end of 2018. This comes after it cut on Tuesday its overnight cash rate by a quarter of a percentage point to a record low 1.50%.
“High [market] expectations for global monetary and fiscal easing are steadily being met,” said Angus Nicholson, a market analyst at IG Markets in Australia.
Adding to the market cheer was a higher-than-expected fall in U.S. gas inventories that helped oil prices there rise Thursday. Government data released Wednesday in the U.S. surprised traders, showing gasoline inventories fell by 3.3 million barrels, 10 times higher than expected. However, in morning trade in Asia, benchmark Brent crude was trading 0.5% lower.
Investors were cautious about U.S. jobs data due later Friday. The U.S. Labor Department will release a broad snapshot of the labor market with economists forecasting a seasonally adjusted July payroll gain of 179,000, in line with the pace of job creation so far this year. They project the unemployment rate to drop to 4.8%. However, initial claims for unemployment benefits, an indicator of job loss across the U.S., rose in the week ended July 30, the department said Thursday.

The Guardian | UK | Media | Media Briefing - August 5, 2016

Johnston Press shares plunge to all-time low after massive writedown
Yorkshire Post and Scotsman publisher reports £184m pre-tax loss after wiping 40% off the value of its local newspapers