Market 08/30: Income Growth Slower Than Spending for 40 Consecutive Months

Key highlights:

• Inflation continues to retreat in July PCE report

• Spending grows faster than income for 40 consecutive months

• Market expects FED to cut 1% from now to year-end

• UMich consumer survey more pessimistic than expected

• OPEC sticks to production increase plan for October

• Intel considers restructuring, splitting the company after stock collapse

• Market: Liquidity collapses, investors sit out on last day of August

Saturday analysis: NVDA and Jensen Huang - Formula for success

Sunday analysis: China - Recession on all fronts