What Spending On 'Vice' Really Says About Retail Sales

"Major bellwether industries for the retail consumer are showing signs of distress. The upcoming holiday season will help… but most consumers are already maxed out. They can’t NOT buy their friends and family holiday presents. After that... who knows when they’ll make those big purchases again."

Trump Signs Executive Order To Begin Unwinding Obamacare

Having failed to repeal (or replace) Obamacare in the Congress on three separate occasions, on Thursday morning Trump took matters into his own hands, when as previewed last night, the President signed an executive order to begin the process of unwinding Obamacare.

Three Big Threats To Small Caps

In addition to the concern that tax reform and/or tax cuts may get stalled, there are three other factors that we think investors should consider when evaluating small caps in the US.

Erdogan Tells US "We Don't Need You"

Amid the escalating visa and arrest crisis between Ankara and Washington, President Recep Tayyip Erdogan decided to pour more gasoline on the fire, and said on Thursday that if the U.S. does not accept Turkey the way it is "then we do not need you", and blamed the ongoing diplomatic dispute on a US ambassador "who doesn't know his place."

San Juan Mayor Fires Back At Trump, Calls Him "Hater In Chief"

The Mayor of Puerto Rico's capital, San Juan, Carmen Yulin Cruz fired back at President Trump after he said the US response to the hurricane-ravaged island couldn’t last "forever", tweeting that Trump's "comments about Puerto Rico are unbecoming of a Commander in Chief they seem more to come from a “Hater in Chief."

RBOB Sinks After Surprise Build, WTI Bounces On Biggest Production Drop In 2 Years

WTI/RBOB have extended their post-API (crude build) losses overnight (not helped by IEA forecasts indicating the oil-inventory decline will halt in 2018). However, DOE data perfectly contradicted the API data with a big crude draw and big gasoline build. WTI bounced a little (helped by the biggest production cut since September 2015) and RBOB slumped.

The Quiet Bull Market That Everyone Is Skeptical Of

"It seems like everyone is all bulled up on America. Well, sold to them. I am more interested in buying the quiet rising market which everyone is skeptical of, rather than the frothy expensive one that everyone loves."

iPhone X Makers Said To Struggle With Facial Recognition

Manufacturers are still struggling to perfect 3-D sensors and in particular dot projectors in Apple premium handset's TrueDepth camera system, a key new feature of the new iPhone X. Should these issues not be resolved, there is a possibility the iPhone X may miss its scheduled release date.

What Wall Of Worry? Goldman Finds Investors Are "Unusually Bullish"

In the context of the acceleration in the equity rally over the past two months, index option positioning is evidence of a crowded equity market and a negative sign for stocks over the next month. Following similar positioning over the past five years, returns were -1.9% below average in the subsequent month.