White House balks at oil purchase

U.S. scraps offer to buy 6 million barrels of crude for the SPR (0:15). ADP jobs report exceeds expectations in July. (1:57) Arm eyes $60 billion IPO next month. (3:52)Read a transcript of this episode at Seeking Alpha.Show LinksMorgan Stanley bear Wilson sees a 2019-like rally this yearU.S. Treasury boosts quarterly refunding sales for first time in over two yearsJPMorgan sees no soft landing as equity multiples are too highBofA revises its U.S. outlook to favor a soft landingYum Brands gains after KFC does the heavy lifting in Q2Pinterest slips even as Rosenblatt upgrades after strong Q2 resultsKraft Heinz sees consumers push back on pricing in Q2CVS Health in restructuring mode amid hit to Q2 bottom-line