Fed Rate Cut Speculation, China’s Hukou Reform Plan, and Stock Market Decline

Recent jobs report raises questions over when Fed will lower rates. China unveils an ambitious 5-year plan to overhaul the Hukou system. Stocks fall sharply as worries mount about weakening US economy. Evening report highlights jobs data 'flashing red' ahead of the election.

Sources:
https://www.wmur.com/article/jobs-report-unemployment-interest-rates-lower/61779401
https://thediplomat.com/2024/08/china-unveils-ambitious-5-year-plan-to-overhaul-the-hukou-system/
https://abcnews.go.com/US/wireStory/stocks-fall-sharply-worries-mount-weakening-us-economy-112524126
https://thehill.com/newsletters/evening-report/4808473-us-jobs-data-flashing-red-election/

Outline:
(00:00:00) Introduction
(00:00:40) Recent jobs report raises questions over when Fed will lower rates
(00:02:54) Stocks fall sharply as worries mount about weakening US economy. Dow drops 600, Nasdaq closes 10% below July high (CORRECTS: A previous APNewsAlert erroneously reported the Nasdaq's most recent high occurred in June})
(00:05:30) Evening Report — Jobs data ‘flashing red’ ahead of election