On Wednesday, the President will reveal a "broad-stroke" vision on his tax reform plan. Coutest of Citi and various media sources, here is a detailed cheatsheet of what is known, what remains unknown and what has been leaked.
The Chinese and U.S. stock markets are going in opposite directions, as an intensifying crackdown against leverage has slammed the recently 'stable' Shanghai Composite over the past week, erasing all post-Trump gains. The relatsionship between the two markets is the weakest since August 2008 - just before the collapse of Lehman unleashed chaos on the global financial system.
"The buzz among those who claim Cohn confides in them is that he would like to eventually replace" Yellen, assuming Trump decides to move in a different direction when the chair's term ends in early February, Beacon Policy Advisors said in its daily report for clients Tuesday.
Al Gore, via a new report from his Energy Transitions Commission (ETC), would like for you to know that he has a plan to save all of mankind from inevitable extinction which will come by around the year 2030 unless we join his global warming crusade immediately...and it will only cost about $15 Trillion
One day after Trump slammed Canada with a lumber tariff, somehow managing to send lumber future prices limit down on the CME, he is faced with another, far more credible crisis: the terrible guidance just released by US Steel in particular, and the fate of the US Steel industry - and China's adverse impact - in general.
After dropping to a $48 handle, WTI bounced off its 200DMA, but remains well down from last week's levels before the DOE-reported surprise gasoline build. The initial kneejerk reaction lower in WTI/RBOB after API reported an unexpected crude build and yuuge gasoline build.
“On the same day that some southern states were honoring their rebel heritage, masked workers in New Orleans dismantled a monument to that past - chunk by chunk, under darkness and the protection of police snipers.”
"There is no doubt that the market can grind higher to more dizzying valuations. However, there is also strong historical evidence that this market will normalize to average valuations. In the wisdom of Bernard Baruch, there are times when you “make your money” by not losing it. Perhaps more importantly, you preserve the ability to buy when better opportunities present themselves. "
"The bulls explain that traditional valuation metrics no longer apply to certain stocks. The longs are confident that everyone else who holds these stocks understands the dynamic and won’t sell either. With holders reluctant to sell, the stocks can only go up – seemingly to infinity and beyond. We have seen this before. It’s painful for the shorts, as the TSLA CEO has been happy to remind everyone via Twitter."