Michigan

Ivory Tower Economist Tries To School Dilbert's Scott Adams On Trade... Fails

"You haven’t given the readers enough credit. Something you PhD economists are going to be facing much more of in the coming years. There is a movement to educate and draw in the American public to such economic discussions. We will be better prepared to understand your theoretical, applicable and logical fallacies. You should take note, and be better prepared next time."

Key Events In The Coming Weeks: Italy Aftermath, ECB, ISM, Consumer Confidence

The key economic releases this week are ISM non-manufacturing on Monday and University of Michigan consumer sentiment index on Friday. Away from the US economic calendar, initially focus will be on the Italian referendum result, which appears to have been mostly digested by the market as bullish. It will then shift quickly to a critical ECB meeting.

European Stocks Soar, US Futures, Euro Jump After Failed Italian Referendum

Another miraculous overnight recovery has eliminated all the bearish aftertaste from the failed Italian referendum. As Guillermo Sampere of MPPM EK put it: "After Brexit, it took three days for markets to shake it off, with Trump it took three hours, with Italy it took three minutes.The fast money, who expected markets to fall further with this outcome, are now covering their positions."

Trump's Lead in PA Shrinks By 22,000 Votes

According to Philly Voice, an updated count Friday by state election officials shows Trump’s lead over Democrat Hillary Clinton has shrunk from 71,000 to 49,000. If this new number is accurate, Trump’s lead is at 0.8 percent, down from more than 1 percent. That is still shy of Pennsylvania’s 0.5 percent trigger for an automatic statewide recount.