Michigan

Global Stocks Pause Ahead Of GDP Report; Nasdaq Hits Fresh Record High

Despite yesterday's whopping beats by Amazon and Google which sent the Nasdaq to new record highs after hours, this morning futures S&P futures are little changed ahead of the closely watched Q1 GDP report, European stocks and Asian equities are slightly lower, oil is higher after Russia said it had reached the 300kbpd oil cut per the OPEC pact, and the dollar was modestly in the red.

Which U.S. States Depend The Most On Foreign Trade?

From the chart, it is clear that the U.S. economy is at least partially reliant on foreign trade. This is especially true for states with major trade hubs and multinational corporations. At the same time, low population states without major trade hubs are not very reliant on international trade.

North Korea Conducts Largest-Ever Live Fire Drill As US Nuclear Sub Docks In South

North Korea conducted what various media outlets have dubbed as its largest ever live-fire exercise on Tuesday to mark the 85th anniversary of the foundation of its military, as a U.S. submarine docked in South Korea in "a show of force" amid growing concern a showdown between the US and North Korea may be imminent.

Euphoria Returns: European Stocks Soar, Dax Hits Record; S&P Futs Surge In "French Relief Rally"

Risk is definitely on this morning as European shares soar, led by French stocks a new record high in Germany's Dax, and S&P futures up 1.2% after a "French relief rally" in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month. Asian stocks also surged, expect for China, which suffered its biggest drop of the year, down 1.4%, ending the streak of losses no greater than 1% going back to December.

Key Highlights From Trump's AP Interview

Following market moving interview with the FT and especially the WSJ, on Sunday the Associated Press released the full transcript from its interview with President Trump. Below, we point out some of the market-moving highlights.

The Most Controversial DNA Test You've Never Heard Of

If approved, this new policy would allow police to investigate family members of New Yorkers whose DNA closely matches DNA found at crime scenes...“This creates a dragnet for the entire community now…all of their relatives are possible suspects. It’s a genetic stop and frisk.

Goldman Asks: Are Markets Rationally, Or Irrationally, Exuberant?

The distinction between rational and irrational sentiment matters. If improvements in sentiment “rationally” reflect recent macro data or “news” about future developments, they likely foreshadow stronger growth. But to the extent that sentiments are “irrational,” they leave the economy more vulnerable to cycles of overheating and correction.

"Hell To Pay"

"No doubt, there’s hell to pay for 100 years of ever escalating financial insanity.  Take it in stride.  The downside is here and it’s not going away any time soon."

Facebook Killer Manhunt Continues - Cops Warn "May Be Out-Of-State"

Amid hundreds of tips - direct to law enforcement officials and across social media - Cleveland police warned early Monday that residents in Pennsylvania, New York, Indiana and Michigan should be on the lookout for 37-year-old Steve Stephens, who is driving a white Ford Fusion and is believed to be armed and dangerous. "Suspect may be out-of-state at this time...Those outside of Northeast Ohio: Contact Local Authorities."

Trump's Base Turns On "Flipper-In-Chief"

"Trump voters felt like they were voting for an anti-establishment candidate — and they're terrified, they're losing faith.  This could be the most elaborate reality show. I'm wondering, was this all an illusion for us, using our movement so he could get in there?"

Pulling Levers To Steer The Machine

Self-respecting witch doctors and fortune tellers look at Ms. Yellen with contempt. She can make the economy worse. She can’t make it better.