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Good evening folks. With today’s release of September jobs data, we’re getting a clearer picture of the economic data we can expect as agencies catch up from the prolonged government shutdown.

We’ll run down the latest in today’s newsletter, and digest some new polling on how Americans are feeling about the economy. First though: A year after the reelection of President Donald Trump, how’s America’s brand doing? —  Tony Wagner, newsletter editor

A worker polishes a life-size statue of Ronald McDonald.
Noah Seelam/AFP via Getty Images
A check-in on the American brand
The American brand has attracted people and businesses to this country for decades. What happens if it changes? Kai Ryssdal asked some experts on today’s show.

Here is a series of facts that might not seem connected, but almost certainly are: 

  1. The number of new international students enrolled at U.S. colleges and universities dropped by 17% this fall.

  2. Levi’s, the denim company, listed “rising anti-Americanism” as a risk to its business in a regulatory filing in the UK earlier this year. 

  3. American companies, including McDonald’s and Coca-Cola, have recently launched ad campaigns downplaying their American roots. 

“People [outside the U.S] don’t go to McDonald’s to buy hamburgers,” said Usha Haley, a professor of management and international business at Wichita State University. “What they go for is an American experience.”

You could say that the “American experience” is one of the United States’ primary exports— consumers around the world purchase Levi’s jeans and Coca-Cola, partially because of the U.S. brand identity itself. 

“I came here as a student many, many decades ago from India, and brand America attracted me here as it does for my students around the world,” Haley said. “America stood for predictability, the shining city on the hill, an educational system par excellence, and the ability to be what you want to be.”

However, there are signs now that the American brand is losing luster. A recent annual ranking of national brands based on a survey of 40,000 people listed the United States brand image as 14th in the world.

“Which is by far the lowest it's ever been, and the first time that it's ever dropped out of the top 10,” said Simon Anholt, creator and publisher of the Nation Brands Index.

“Measuring is the easy part, to be honest with you,” he added. “The difficult thing is doing something about it if you don't like what you find.”

HEAR MORE


 
News you should know

Let’s do the numbers

  • Stocks started super strong today… then anxiety about an AI bubble and interest rates set in. The S&P 500 closed 1.6% lower, the Dow fell 0.8%, and the Nasdaq composite lost 2.2%.

  • Bitcoin similarly erased yesterday’s Nvidia bounce to fall further below $90,000.

  • The September jobs report, delayed to this morning, showed employers beat expectations by adding 119,000 jobs. Interestingly, many more businesses responded to the survey.

  • One more jobs stat that jumped out to us: The food services sector added more than 36,000 positions in September, more than any sector besides health care.

  • Existing home sales rose 1.7% annually last month. Mortgage rates were creeping down at that time, but so was housing supply.

  • The Bureau of Economic Analysis announced next week’s scheduled release of new gross domestic product, income and spending data will be further delayed.

Your money

  • President Trump keeps insisting grocery prices are down, despite ample evidence to the contrary. A new poll found voters in both parties aren’t buying it.

  • The $100 trillion wealth transfer from boomers to their children is also a massive stuff transfer. Many millennials say they really don’t want all the crap in their parents’ house. Parents say crap is in the eye of the beholder.

  • We’ll get new consumer sentiment data tomorrow, and September retail sales next week. For now, new surveys keep showing money is tight headed into the holiday season.
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QUOTE OF THE DAY
"Tapping into that engaging — and at times extreme — emotional and physical reaction can explain why this taste is taking off."
—  Mahira Rivers, freelance writer and restaurant critic

That’s a very academic way of saying: People can’t get enough sour. Rivers wrote about the phenomenon in Taste, and told us the sour frenzy is driven by younger, adventurous eaters. It’s also not limited to sweets. Have you tried yuzu hot sauce? 

A man holds the last penny.
Matthew Hatcher/Getty Images
Final note
A penny saved… is a few million earned?

When it struck the last pennies earlier this month, the Philadelphia Mint set a few hundred aside and even made some gold ones not for circulation. Now this “omega series” of coins is up for auction, where experts say they could fetch as much as $5 million. 

We’ll have more interesting tidbits about the death of the penny in tomorrow’s weekly Marketplace newsletter. If you’re not getting our best stories and more every Friday morning, sign up here so you don’t miss it! Or read the latest issue if you’re not ready to commit.

Tony Wagner wrote and edited this newsletter. Maria Hollenhorst produced our interviews on brand America.

 
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