Carl Quintanilla

CITI, on retail: ".. On a YTD basis, the spread between the S&P 500’s gain (now +12%) and our coverage’s decline (now -6%) widened. Only 6 companies in our coverage are positive YTD (WSM, BBY, VVV, COST, AAP, and BJ). .. our group is trading at a -10% discount to 5-year history on an FY2 P/E .."

Diesel inventories near 20-year low. “.. The decline is all the more striking because inventories are usually growing at this time of year. .. The $5.60 price of diesel at the end of August was 62% higher than its $3.50 price in early January.” @joebrusuelas.bsky.social

Hormuz crossings: @bloomberg.com

BOOCKVAR: “.. an update on ag prices which .. will be the last group to join the commodity bull market .. .. the Bloomberg Agriculture Index is now at the highest level since November 2023.”

KATHMANDU, Nepal (AP) - Death toll from catastrophic flooding in Nepal and China passes 1,000. @apnews.com

> @techcrunch.com @mapquest.com techcrunch.com/2026/08/31/m...

YARDENI, on Canada/US: “.. This is no longer a squabble at the margins. .. the more interesting question may be whether other blocs—the European Union, the BRICS nations .. read Carney’s ‘not for sale’ stance as a template for dealing with Trump through the rest of his second term.”

JPM DESK: “.. We are moving to a Tactically Cautious / Neutral view, which is to say that Equity market fundamentals remain strong but that near-term variables are likely to cause markets to chop sideways. .. This argues for reducing net-longs ..”

PIMCO: “.. we are likely to see more action at the local level, including possibly more state-wide moratoriums on data centers. .. .. you know you have a problem when conservative Texas Governor Greg Abbott and socialist Senator Bernie Sanders agree on the same issue.”

WSJ EDITORIAL BOARD: “.. this all looks like an example of the Trump Administration extending its creeping crony statism beyond U.S. shores.” @wsj.com #venezuela 🇻🇪 www.wsj.com/opinion/trum...

EL RENO, Okla. — A damaged private water line at a data center in El Reno caused more than 3 million gallons of water to be wasted this week, prompting the city to issue emergency abatement and public nuisance notices. www.koco.com/article/el-r...

#MIsen

“.. In a widely cited report earlier this month, J.P. Morgan analysts warned that global food inflation would hit 5% in the first half of 2027, nearly double what it was in the first half of 2026.” @axios.com www.axios.com/2026/08/30/g...

WAPO: “.. Several U.S. military leaders have advised Defense Secretary Pete Hegseth that prolonging large-scale operations against Iran is unsustainable and risks weakening their ability to confront threats elsewhere, including the U.S. homeland ..” www.washingtonpost.com/national-sec...

“.. The decision to exclude individual reporters is the latest example of the Trump administration restricting access to certain journalists.” #G20 @nytimes.com @benmullin.bsky.social www.nytimes.com/2026/08/29/b...

“.. Rafael Ramírez, who was president of PDVSA from 2004 to 2014, .. said that the deal reached with Washington represented ‘the greatest looting in our country’s history.’” @financialtimes.com 🇻🇪 www.ft.com/content/b3c9...

“.. In June, the FBI quietly lowered some of the standards it uses .. even if candidates acknowledged they engaged in sexually deviant activities or stole from an employer.” @cbsnews.com www.cbsnews.com/news/fbi-can...