Reuters

Frontrunning: August 4

  • July’s U.S. Labor-Market Numbers Will Probably Look Familiar (BBG)
  • Paul Singer Says Passive Investing Is ‘Devouring Capitalism’ (BBG)
  • Tesla short sellers lose almost $800 million as stock rallies after earnings (MW)
  • Beyond Bankruptcy: How Failed Stores Come Back Online (WSJ)
  • EU to impose more Russia sanctions over Siemens case on Friday (Reuters)
  • Trouble Comes in Threes for Germany’s DAX Losing European Crown (BBG)

Futures Flat As Payrolls Loom, Dollar Slide Continues

It took stocks only a few minute to "price in" the latest political shock out of Washington, with the Emini trading 0.07% higher this morning on news that Mueller now has a grand jury, while European and Asian shares are little changed as investors await the looming July jobs report.

Wall Street Analysts Respond To Mueller's Grand Jury Subpoena

"From a Wall Street standpoint I can’t say over the long term that (a Trump impeachment) would be a bad result for stocks. The uncertainty of going through it all would be a negative, but I’m not sure the market would remain lower for long, assuming all else is equal."

Frontrunning: August 3

  • Bank of England, staying on hold, hints again at 2018 rise (Reuters)
  • Angry and inspired: Democrats train new wave of candidates (Reuters)
  • Is Gary Cohn a Good Pick to Head the Fed? (BBG)
  • Russia Warns of Worsening U.S. Ties, Criticizes Trump ‘Weakness’ (BBG)
  • Russians Portray Washington as Mired in Chaos (WSJ)

Tech Stumble Drags Global Markets Lower; All Eyes On The BOE

E-mini futures are fractionally lower this morning (0.08%) after Apple's surge helped the DJIA climb above 22,000 for the first time on Wednesday; Global shares declined for the first time in 4 days pressured by tech stocks: Asian shares fell, while Europe pared opening losses to trade unchanged.