The following are the headlines discussed at Aldwin Callen's Monday morning briefing:
- Key indicators for US manufacturing and new export orders for Sept. fell to their lowest levels since 2009, indicating contraction.
- In September, the US economy added 136,000 new jobs (100,000 needed to keep up with an expanding workforce); wage growth slowed.
- Britain’s latest proposal for Brexit (slated for end of this month) was met with skepticism from the EU; Northern Ireland still a sticking point.
- Moody's reduced the US steel industry's outlook to negative (from stable) due to decreased manufacturing activity and lower prices.
- Oil prices posted the biggest weekly drop since July on concerns about slowing economy and passim about US-China trade talks.
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