US Army Pulls Training Slide Listing Hillary Clinton As A Security "Threat"

The US Army said Wednesday it was a mistake for a local unit to identify Hillary Clinton as a potential threat during a training presentation and has halted the practice.  "We have confirmed that the slide was developed 18 months ago and used locally as a part of a training presentation on best practices for handling classified material and maintaining operational security."

State Department Urges US Citizens To Leave Gaza "As Soon As Possible"

It's been a busy 24 hours for John Kerry. Between fending off requests for Hillary's emails, palling it up with Erdogan, and dealing with Afghanistan fallout, The Department of State has just issued a travel alert warning U.S. citizens against all travel to the Gaza Strip and urges those present to depart as soon as possible when border crossings are open. The announcement follows an escalation between Palestinian militants and the Israeli military over the weekend.

Hillary Calls Epipen Price Increase "Outrageous", As Earnest Calls Mylan Greedy

Moments ago Hillary Clinton joined the fray against Mylan, calling on the company to voluntarily drop the price of EpiPen, which has increased in price by 400 percent in the past decade. "That's outrageous - and it's just the latest troubling example of a company taking advantage of its consumers," Clinton said in a statement. "It's wrong when drug companies put profits ahead of patients, raising prices without justifying the value behind them."

France: The Religious War Few Wish To Face

Until a few years ago, the unique recipe for secularism adopted by the French seemed able to guarantee the assimilation of the country's burgeoning number of Muslims, something now, by criminal and terrorist activity in the country, proven a resolute failure. Next year's election results might signal the beginning of the end for laïcité, the long-held French principle of strict prohibition against religious influence in the determination of state policies.

Crude Slammed After Inventory Builds Across Entire Oil/Product Complex

Following API's reported biggest crude build in 4 months overnight, which weighed on oil prices, DOE exasperated the pain by signaling builds across the entire complex. Crude's build of 2.5m barrels (biggest in 3 months) was less than API but more than the expectd 850k draw but Cushing saw a big build and gasoline and distillates both saw builds despite expectations of big draws. As a reminder, US Crude production surged by the most since May 2015 the prior week but fell modestly in the last week. Crude tumbled back to $47 on the print.

Existing Home Sales Crush Recovery Narrative, Plunge Most Since Nov 2015

Following yesterday's 7 standard deviation beat in New Home Sales, Existing Home Sales for July missed expectations by 2 standard deviations dropping 1.64% YoY - the first annual decline since Nov 2015. The blame for this collapse - according to NAR's Larry Yun - is "frustratingly low inventory levels."

French 'Extremist' Screams "Allahu Akbar", Stabs British Woman To Death In Australia

Australian police are investigating a possible "extremist" attack involving a French national who stabbed a British woman to death and injured two others while reportedly yelling "Allahu Akbar." As Reuters reports, the police are looking into possible "mental health or drug misuse" issues and any "indication of an extremist slant or he was radicalized," an officer said, noting the man was in Australia on a valid tourist visa and had no known links to radical groups such as Islamic State.

Trump Slams Clinton Foundation As "Most Corrupt Enterprise In Political History" After Latest Donor Revelations

"It is now clear that the Clinton Foundation is the most corrupt enterprise in political history," Trump said in a statement, slamming Hillary Clinton. "We've now learned that a majority of the non-government people she met with as secretary of state gave money to the corrupt Clinton Foundation. ... It was wrong then, and it is wrong now -- and the foundation must be shut down immediately."

Oil Erases 'Iran Rumor' Rally Following Inventory Data As Angola Supply Soars

Despite denials, yesterday's oil price rally sustained on the back of rumors that Iran was willing to support a production freeze. However, an unexpected crude build overnight from API combined with news that Angola has overtaken Saudi Arabia as the number 1 seller of oil to China (more supply at the margin) has sunk WTI Cride back to $47 - erasing all of yesterday's gains...