The key economic releases in the US this week are ISM manufacturing on Monday, ISM non-manufacturing on Wednesday, and the employment report on Friday. The minutes of the March FOMC meeting will be released on Wednesday, while several Fed officials are scheduled to speak this week. The meeting between Trump and Xi set for Thursday and Friday at Mar-A-Lago will likely attract significant attention.
Markets seem more concerned about missing the upside associated w/a final tax deal than they are about being caught long on a tax disappointment, thus for the time being headlines such as “Trump and Ryan discuss taxes” or “tax plan makes progress in Washington” will help to buoy stocks more than “Trump has neither a clear WH tax plan nor adequate staff yet to see through a planned tax reform” will hurt them.
Lawyers have the best professional photos on LinkedIn, Chile is the country with the highest quality pictures, and people who recently joined a company are much more likely to have a nice photo than someone with a long tenure.
Brexit day has finally arrived, and despite this major "risk event", European and Asian stocks are trading mixed, while S&P futures are just fractionally lower as a bounce on optimism over the American economy appears to have fizzled and President Trump continues to struggle to pass his legislative agenda. The pound first dipped then rose as the U.K. is set to begin its life outside the EU.
Global stocks are lower across the board to start the week, as concerns about Trump's administration to pull off a material tax reform plan finally emerge, pressuring S&P futures some 20 points lower this morning, following European and Asian shares lower, while crude oil prices fall unable to find support in this weekend's OPEC meeting in Kuwait where a committee recommended to extend oil production cuts by another 6 months.
“You boys were always gonna face this moment,” barked Biggie, sliding into a slow groove."But here’s the thing brotha. The market doesn’t care about health care - you know that. Poor people care about health care. And the market doesn’t care about poor people. No one cares about poor people.” Biggie nodded, smiled, a big golden smile.
The three key stakeholders in this argument, governments, businesses and consumers, all have varied benefits from shifting away from cash... although the advantages of moving away from cash are perhaps the most pronounced for governments.
One of the largest illegal migrant groups in the US is from India. In this modern era, India’s crisis will not stay limited to India. As is the case with those from other eastern religions and societies, once they arrive, Indians vote to mirror what they left behind in their home country, often unknowingly — as the virus of totalitarianism is deeply ingrained in the culture of irrationality. A wall might not be the answer, but Trump isn’t all that wrong.