We are going to find out a lot about the health of the consumer during the upcoming week as we get personal income and consumer spending reports for the month of August. It is important to note that these readings will be the first readings that do not include the juiced-up unemployment benefits that were part of the CAREs Act which ended in July. Personal income will likely fall due to the removal of the additional $600 per week of unemployment insurance benefits. However, businesses have reopened which may offset the removal of the benefits. Additionally, we will get the September jobs report which I will be watching closely, particularly the number of permanent job losses.
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