Headlines discussed at LNWM’s Monday morning briefing:

— China’s manufacturing activity fell to a 2-year low — 47.8; below 50 indicates contraction.
— Oil prices are back down near 2015 lows, due to global oversupply and China’s slowdown.
— The U.S. job market stayed strong in July (+215,000 jobs), making interest rate increases more likely.
— The Eurozone’s manufacturing level rose in July to a robust 53.9, while Greece’s fell to an all-time low.
— U.S. equities fell for the week, led by media stocks, which are losing business to online competitors.

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