"VIX futures ETF extremely popular now. Can this possibly end well?" - Tom McClellan
In the aftermath of the Panama Papers scandal, one topic that will only continue to receive attention as this topic moves along, is the state of Delaware and its perceived status as a U.S. tax shelter. According to Bloomberg, the state has about 1.1 million business entities, and one single building located at Wilmington's 1209 Orange Street is the home address of 285,000 companies including Alphabet (Google), Ford Motor Co., and Wal-Mart. However, as pressure from mounts from the outside asking Delaware to reform some of its laws around incorporation and business in general, there is one good reason why the state will choose to leave everything at the status quo if at all possible.
As the battle heats up between the presumptive nominees for President, the word-wars have begun. Following Hillary's "love Trump's hate" breaking-barriers speech last night, a seemingly calmer, friendlier Trump went after Hillary exclaiming that "the only thing she's got going is the woman's card...and the beautiful thing is that women don't like her." Trump added that he'll "do far more for women than Hillary Clinton will do," and that "if Hillary Clinton were a man, I don't think she'd get 5 percent of the vote."
The Vision for 2030 is mostly smoke and mirrors. Saudi Arabia probably cannot replace the money it will lose if oil goes out of style and so is doomed to downward mobility and very possibly significant instability. It has been a great party since the 1940s; it is going to be a hell of a hangover.
With a number of states remaining including California, Trump is set to surpass current record holder George W. Bush, who received 10.8 million votes in 2000.
If yesterday it was doom and gloom for tech stocks, then today it's Facebook's turn for soom upside down frown turning boom. Moments ago the social network reported another round of blowout results...
In a few moments, a major showdown will take place in Congress when on the same table Valeant's outgoing CEO Michael Pearson will sit next to Valeant's most prominent investor Bill Ackman and also the former CFO, Howard Schiller, who the company recently tried to scapegoat for most of the problem that sent the stock price of VRX crashing 85% from its summer 2015 highs.
As we predicted during our preview of Ted Cruz's "big announcement" earlier today, the republican presidential candidate, in hopes of kickstarting his mathematically impossible to win campaign, is set to announce that Carly Fiorina will be his vice presidential nominee if he’s the Republican Party’s pick for president according to Politico.
Over the last few years we have made it abundantly clear that sooner or later it would be shown that the whole Silicon Valley meme of “It’s different this time” (i.e., in regards to unicorns, social everything, eye balls for ads etc., etc.) was nothing more than the equivalent of a teenager’s response of “because” when arguing why valuations of many of "The Valley’s" newest, or trans-formative platforms were clearly not only out-of-whack with reality, but bordered on insanity.
Relations between Iran and Saudi Arabia, which supposed had thawed as part of Obama's landmark 2015 nuclear deal which also allowed Iran to resume exporting its oil, are once again on the fence following a statement by Iran's Supreme Leader, Ayatollah Ali Khamenei, which accused the United States of scaring businesses away from Tehran and undermining a deal to lift international sanctions.
- The April 27 statement downgraded economic activity, said it "slowed", but labor market conditions "improved further" and inflation still expected to rise toward 2% over the medium term.
- Removed language that "global economic and financial developments continue to pose risks".
- Kansas City Fed's Esther George dissented in favor of a rate hike.