A History Of The US Stock Market From 1899 To 2017 In Three Charts

Here are three charts highlighting the dramatic transformation of the US stock market starting in 1899 and continuing through today, showcasing its relative domination of all global equity markets, the relative sizes of world markets, and how dramatically the equity composition has changed over the past 117 years.

Milo Yiannopoulos Resigns From Breitbart News

"Today, Milo Yiannopoulos, Senior Editor at Breitbart News, announced his resignation from the company. "Breitbart News has stood by me when others caved. They have allowed me to carry conservative and libertarian ideas to communities that would otherwise never have heard them. They have been a significant factor in my success. I'm grateful for that freedom and for the friendships I forged there."

CSX To Fire Over 20% Of Management-Level Employees

CSX announced on Tuesday that alongside the retirement of the company's CEO and President, it would also lay off 1,000 of about 4,500 management employees by the end of March, a side-effect of a dramatic activist investor fight.

SocGen: "The Average Stock Is Still 26% Down From Their All-Time Highs"

"All would appear to be rosy in the equity market with the consensus promising higher EPS growth in 2017 and bond yields remaining reasonably well behaved despite higher headline rates of inflation and a very slightly more hawkish tone from the US Federal Reserve. However scratch below the surface of these headline numbers and all is not as it seems."  -SocGen

Is A Trump-Putin Detente Dead?

The epidemic of Russophobia makes it almost impossible to pursue normal relations. Indeed, in reaction to the constant attacks on them as poodles of Putin, the White House seems to be toughening up toward Russia...

Hedge Fund Liquidity Plunges To "Danger Zone" For US Stocks

Simply put, the massively overcrowded hedge fund herding into US equities has created a crisis situation. With liquidity levels at record lows, the market will be unable to smoothly absorb any concerted selling pressure from large money managers.

Bannon Breaks With Pence, Delivers Warning To Europe

In the week before VP Mike Pence visited Brussels and pledged America's "steadfast and enduring" commitment to the European Union, Trump's chief strategist Steve Bannon met with the German ambassador and delivered a different message. Bannon, according to Reuters' sources, signalled to Germany's ambassador to Washington "that he viewed the EU as a flawed construct and favoured conducting relations with Europe on a bilateral basis."

Bitcoin Soars Above $1100, Near Record Highs As Chinese Bypass Crackdown

Despite concerted efforts by authorities to crackdown on capital outflows - specifically through virtual currencies - prices for Bitcoin are soaring as the Chinese find way around regulatory controls. Bitcoin just topped $1100 - near record highs - as Chinese traders shift their action off regulated-exchanges to local peer-to-peer marketplaces.

Fannie, Freddie Plunge After Court Rules Hedge Funds Can't Sue

Moments ago, the stocks of the nationalized GSEs = Fannies and Freddie - tumbled, after a federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout.

Over-Regulation Has Criminalized The Practice Of Medicine

This criminalization of everyday life is not just insanely costly and insanely counter-productive--it's insanely punitive. It is the output of a sick society, a sick culture and a sickness-unto-death system of governance.

Trump Denounces Anti-Semitic Incidents As "Horrible And Painful"

Having come under pressure to address an uptick in incidents targeting Jewish institutions across the US, President Trump denounced anti-Semitism Tuesday when during a tour of the National Museum of African-American History and Culture he said that “Anti-Semitism is horrible and it’s going to stop and it has to stop.".

Kashkari: "The Fed Really Has A Third Mandate And It Is Financial Stability"

After years of veiled suggestions by market skeptics that the Fed's two core mandates, inflation and employment, are just a cover for its real "third" mandate, namely supporting asset prices, today the president of the Minneapolis Fed came confirmed just that when he said that “really we have a third mandate and the third mandate is financial stability.”

Gartman Goes Long Crude Oil

"We wish to buy one unit each of Brent and WTI crude upon receipt of this commentary. We’ll risk no more than 3% from the current prices level and if nearby Brent were to trade above $57/barrel and if nearby WTI were trade above $55/barrel and were to remain there “For an hour or so to prove the merits of the moves."