Michigan

"Regretful" Trump Reaches Out To Latino Leaders: "No, I Am Not Flip-Flopping"

Donald Trump exclaimed "I'm not flip-flopping on immigration, we want to come up with a really fair but firm answer," this morning after meeting with his newly announced Hispanic advisory council this weekend in an effort to figure out a “humane and efficient” manner to deal with immigrants in the country illegally.

Jackson Hole Looms: The Main Events In The Coming Week

The key economic releases this week are new home sales on Tuesday and durable goods on Thursday. However, the main event in what is one of the slowest summer weeks, will be the Jackson Hole symposium starting this Friday, where focus will be on Yellen's speech who will be scrutinized to see if she can bring the Fed's message back on track after several conflicting statements by Fed speakers in recent weeks.

US Futures Fall, European Stocks Rise As Stronger Dollar Sends Oil Lower

European stocks rose and US S&P futures fell after the dollar strengthened following the latest hawkish comments from Fed vice-chair Stanley Fischer signalled that a 2016 rate hike is still being considered and again boosted speculation that US rates will rise this year. The rising dollar pressured commodities and notably oil, which dropped 2% breaking a 7 days stretch of increases; emerging markets retreated. 

Mexico's New Auto Plants Unable To Find Enough Labor... As Detroit Still Suffers Massive Unemployment

Soaring auto production in Mexico is creating a bit of a labor shortage as US production continues to migrate south of the border.  Supporters of minimum wage hikes could learn from the efforts of the United Auto Workers Union which did a masterful job negotiating off-market wage and benefits packages which ultimately only served to provide their members with permanent job losses.

Key Events In The Peak Vacation Season Week

With Wall Street hitting peak vacation season, it is a quiet week for news. The key economic release this week is CPI inflation on Tuesday. There are several scheduled speaking engagements from Fed officials this week. Many will be looking for signs of hawkishness Minutes from the July FOMC meeting will be released on Wednesday.

Michigan Pension Funds Boost Tesla Stake By Over 200%

"Our original $25 million position in Tesla was relatively minor, and we added approximately $50 million during the past quarter," the department said in a statement. "The additional shares did not materially add to the risk of the overall $60 billion investment portfolio."

Don't Show President Obama (Or Hillary Clinton) This Chart

If "everything is awesome" as Hillbama proclaim (though there is more work to be done...) and stocks are backed by the "strength of the economy," then why are Americans' views of their financial prospects crashing to their lowest since 2014...?

Futures Rise, Global Stocks Flat After Ugly Chinese Economic Data

One day after all three US indexes hit record highs for the first time since December 31, 1999, US equity index futures, European stocks and Asian equities are little changed after the Nikkei jumped on the back of a Yen weakness, while China reported disappointing economic data and the PBOC suggested that the flood of new debt is slowing which pushed Chinese stocks higher by 1.6% on hopes of more stimulus.

Hillary Clinton Explains How Much Better Her Economic Plan Is Than Trump's (And Obama's) - Live Feed

"Mrs. Clinton isn’t expected to unveil new policy in Thursday’s speech." according to The Wall Street Journal. Instead, Hillary will dial up a line of attack on Donald Trump’s economic proposals in a Thursday speech that casts his agenda as a crony giveaway that erodes his populist appeal, according to a campaign official...We wonder, if Hillary has all these brilliant ideas, then why did she not share them with President Obama - who just presided over the only term without a 3% growth year in the history of America.