Debt Ceiling

How Harvey And Irma Will Slam The US Economy: A Complete Walk Thru From BofA

Hurricane Harvey may end being the most expensive natural disaster in history (Irma damages estimates are still not available). Expect to see the sharply negative impact from Harvey in upcoming economic data, including jobless claims, manufacturing and consumer data, and eventually , GDP. Here's the full walk thru.

The Trump 'Eclipse Bottom'

"Trump seems to be sticking his foot in his mouth a lot less often these days... And with the recent debt ceiling deal with the Democrats, you could almost say he is acting Presidential... I think Trump staring at the Solar eclipse was the bottom for his Presidency."

Watch Live: President Trump Press Conference

While the joint press conference with "close ally" the Emir of Kuwait is supposed to be about economic issues and spearheading negotiations with Qatar, we suspect the media will want to chat about his turning his back on The GOP, Facebook's Russia findings, storm preparation, and removing the debt ceiling altogether.

All Eyes On Draghi: Futures Flat, Euro Surges, Dollar Slides; Yuan Breaches 6.50

S&P futures are flat, still spooked by the WSJ's report that Gary Cohn will not be the next Fed chair, while both European stocks and Asian shares gain in a quiet overnight session in which everyone is looking forward to today's main risk event: the ECB meeting. The dollar continued to weaken against all of its peers with the Yuan breaching 6.50 for the first time since May 2016.