The U.S. economy’s recovery is likely to drag on through the end of next year, with the labor market experiencing its sharpest deterioration since the 1930s, the Congressional Budget Office says

The U.S. economy’s recovery is likely to drag on through the end of next year, with the labor market experiencing its sharpest deterioration since the 1930s, the Congressional Budget Office says t.co/x4ahFIxV0R

— Real Time Economics (@WSJecon) June 1, 2020

The wart on today's ISM is the lack of improvement in New Orders vs Inventories Spread which leads the Headline by 3 months (highest lag correlation).

Most important is the gap between Orders-Inventories and S&P YOY% (correlation 40%) is the most bearish on record. pic.twitter.com/d9mdN4fLA8

— Not Jim Cramer (@Not_Jim_Cramer) June 1, 2020

ICYMI! The ISM Manufacturing rose in May, but at 43.1 remains pretty subdued, not pointing to a V-shaped recovery. pic.twitter.com/Y07swWTJRb

— jeroen blokland (@jsblokland) June 1, 2020

The government shutdown spotlights a bigger issue: 78% of US workers live paycheck to paycheck

.@elerianm calling for the Fed to stop.

"By continuously intervening in market pricing or taking policy rates negative, or both, the Fed would risk creating not just additional distortions but also “zombie markets”.t.co/yPcdNdOyxI

— Sven Henrich (@NorthmanTrader) June 1, 2020

U.S. ATLANTA FED GDPNOW Q2: -52.8%

— lemasabachthani (@lemasabachthani) June 1, 2020

US Congressional Budget Office: Economy Could Take 10 Years To Catch Up After Coronavirus – CNBC

— LiveSquawk (@LiveSquawk) June 1, 2020

STARBUCKS LIMITED OPERATIONS LEADS TO HOUR REDUCTIONS — COMPANY

STARBUCKS EXPECTS LOWER SALES AT U.S. STORES UNTIL AT LEAST THE FALL

EMPLOYEES WILL HAVE A WEEK TO DECIDE WHETHER TO TAKE REDUCED HOURS OR UNPAID LEAVE$SBUX

— *Walter Bloomberg (@DeItaOne) June 1, 2020

Record-High Cuts to S&P 500 EPS Estimates for CY 2020 To Date t.co/0hHEbPYrkd via @FactSet

— LongConvexity (@LONGCONVEXITY) June 1, 2020

A fresh forecast of U.S. economic outlook from Steven Koptis, head of Princeton Energy Advisors via @SoberLook pic.twitter.com/4xqsNRat1H

— Danielle DiMartino Booth (@DiMartinoBooth) June 1, 2020

China’s recovery showing signs of stalling