“It’s no secret that the President and his team have been critical of CNN’s dishonest coverage of the President both during the campaign and since his inauguration, and it’s obvious their ratings have suffered as a result."
While the Trump campaign was publicly feuding with Megyn Kelly of Fox News, in private, the ties between the Trump family and Rupert Murdoch, Executive Chairman of News Corp and 21st Century Fox, may have been more extensive than previously thought.
In a mostly quiet Wednesday session, Asian stocks rose overnight along with European bourses, which were led higher by miners after Rio Tinto posted higher profits for the first time in three years and a bigger-than-expected dividend, while India’s Sensex extended declines after the central bank unexpectedly left rates unchanged. US futures were little changed as oil continued to fall after API reported a huge inventory build
It is a relatively light week in the US, with mainly trade balance, JOLTS and consumer credit data out. The key economic release this week is University of Michigan consumer sentiment on Friday. In addition, there are a few scheduled speaking engagements from Fed officials this week. 86 S&P 500 companies reporting, representing 11% of the index market cap
In a relatively quiet session, which may see US traders sleep in a bit after last night's Superbowl thriller, European and Asian shares rose ahead of Mario Draghi’s testimony at the European Parliament, while US equity futures were fractionally higher (up 0.1% to 2,293) after stocks jumped the most in a week, as traders assessed the trajectory for interest rates while scrutinizing every new Trump tweet.
"Ted Turner wrote in 2004, CNN 'puts journalism first'... Consider how far CNN departed from this model in the last election... Even though CNN has many able journalists prepared to report stories, its programs were dominated by pundits... All this was about one thing, and it’s not better journalism. It’s bigger profits."
While the fate of the Time Warner-ATT merger still remains up in the air, moments ago the WSJ reported that in what could be the next mega telecom-cable merger, $200 billion Verizon is exploring a combination with cable company Charter Communications, whose market cap clocks in at over $100 billion as of this morning.
Slowly but surely, Trump is dismantling the massively overpriced market, one stock at a time, and after taking a detour into the world of FX earlier when he slamming the Peso for the second time this week when he warned Toyota not to build a planta in Baja, Mexico, moments ago Time Warner slumped on Bloomberg news that Trump has told a confidant that he still opposes the AT&T- TIme Warner deal.
The core thread of next year's relatively downbeat "surprises" from Seabreeze Partners' Doug Kass is that the crowd is wearing Trump-colored glasses and that the single-biggest surprise is how quickly the bloom comes off the Trump flower.
"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."
Forget the Carrier deal, and forget the infamous tweet recently directed at Boeing. If Trump is serious about protecting the American public and being the populist leader he claimed he would be, he will aggressively push back against the proposed AT&T-Time Warner mega merger.