Google Slides As Cost-Per-Click Tumbles

while Google's top and bottom line results were both impressive, the reason why the stock was down as much as 3.6% in the after hours appears to be that Google reported paid clicks in Q2 rose by 52%, well above expectations, while cost-per-click declined 23%.

Giuliani Denies He Is Being Considered For Attorney General

Following this morning's Acios report that Trump is considering replacing AG Sessions with Rudy Gioiliani, the former New York City Mayor spoke to CNN, and disputed the report. Giuliani told CNN there is no truth to what Axios reported and added that Sessions "made the right decision under the rules of the Justice Department" to recuse himself from the investigation into Russian election meddling

A Primer On The "Global Sharing Economy" In 20 Charts

It's the $6 trillion opportunity that everyone is talking about and investing in. Here, in 20 charts, is a quick primer on what the "global sharing economy" means for markets, consumers and investors.

Can Financials Lead With A Flattening Yield Curve?

"After the brief steepening episode that occurred between the middle and end of 2016, the yield curve is back to the flattest it’s been all cycle, and flattening still further.  That has, so far in 2017, been an impediment to financial stock relative performance and has kept the group from breaking out of its range-bound trend..."

Watch Live: President Trump Delivers A Statement About Healthcare

Having warned "Republicans have a last chance to do the right thing on Repeal & Replace after years of talking & campaigning on it," in a tweet this morning, building pressure on the GOP after threatening overnight that "if Republicans don't Repeal and Replace the disastrous ObamaCare, the repercussions will be far greater than any of them understand!" President Trump will deliver a statement about healthcare, shortly after meeting with what he calls “victims of Obamacare."

The Death Of Equity Research Hasn't Been Greatly Exaggerated

"I wish I could say the future looks bright for equity research, but few professionals appear to be addressing the miserable under-performance plaguing our industry and so there’s no reason to expect the drain of actively-managed assets to stop..."

"Hunter Harrison Is Out Of Control" - What's Really Going On At CSX?

"Hunter Harrison, what exactly is going on at CSX? I’m hearing lots of voices. They’ve become loud and frequent and as such are nearly impossible to ignore. They’re the voices of railroaders, from the executive to the train and engine service level. They’re former and present CSX employees. They’re people who have worked for you at other railroads. And they’re all saying basically the same thing: That the changes you are making at CSX aren’t the right thing to do, or aren’t working."

Von Greyerz: "We Are Now In The Frightening Endgame"

"Stock investors are rejoicing about stock markets making new highs in many countries, totally oblivious of the risks or the reasons...The gullibility of people today is exacerbated by the power of the internet and social media."

These Are The 10 Most Crowded Long And Short Trades According To UBS

According to UBS, these are the Top 10 most crowded long and short trades, and not surprisingly, it's all tech among the top 5 longs, which include Google, Alibaba, Amazon (a jump from 8th spot as of the last ranking), Facebook and Visa (with AAPL in the 6th spot), while on the short side one name stands out: Tesla in the perennial top slot

The ECB's Impact On The Bond Market In One Chart

The simplest visual summary of just how the ECB's corporate bond purchases have "impacted" the market since the corporate bond buying program was announced in March of 2016, here is just one chart from JPM.

America 2017 = France 1789

"The floundering non-elite masses have not learned the harsh lesson of our time that the virtual is not an adequate substitute for the authentic, while the elites who create all this vicious crap spend millions to consort face-to-face in the Hamptons and Martha’s Vineyard telling each other how wonderful they are for providing all the artificial social programming and glitzy hardware for their paying customers."