| Here’s what my colleague, market strategist Mike “Willo” Wilson says happened while we were sleeping… US stocks dropped with the S&P 500 Index posting its worst week since May after weak job growth raised concerns among investors. Bond yields posted their biggest drop in months as traders bet the Federal Reserve could cut interest rates in September, and possibly again by year-end. The US dollar also weakened, boosting the Australian and New Zealand dollars, which both rebounded from a six-day slide. This week, Australia has only minor economic updates to watch, while New Zealand’s 2Q job report is the key focus. Futures pricing shows local stock markets are expected to follow the broader downtrend. OPEC+ closed a two-year chapter in its oil strategy on Sunday with the last in a series of bumper oil production increases. But it left crude traders with a cliffhanger. Saudi Arabia and its partners have stunned oil markets and capped futures prices in recent months by pushing more barrels into a fragile global market, offering relief to consumers and a fillip for President Donald Trump. Democratic lawmakers are leaving the state of Texas in an effort to temporarily block Republicans from redrawing its congressional maps — a redistricting initiative pushed by President Donald Trump. They’re heading to Chicago, according to a person familiar with the matter, selecting a place where the city and state governments are led by Democrats. By fleeing, Democrats will leave the Texas state legislature short of the minimum number of lawmakers required to hold votes. Trump’s firing of the chief labor statistician was criticized by her predecessor, who called it an unfounded move that will undermine confidence in a key data set on the US economy. “This is damaging,” William Beach, whom Trump picked in his first term to head the Bureau of Labor Statistics, said on CNN’s State of the Union on Sunday. | 
