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S&P Set To Open At All Time High, Boosted By Rising Crude On More "OPEC Deal Optimism"

European and Asian stocks rose after the early scare from the latest Fukushima quake dissipated, with the global risk on mood spurred by another jump in crude, which was up 1% in early trading, with the commodity complex now enjoying its biggest three-day rally since May, after Nigeria signaled optimism that OPEC will agree a supply-cut deal next week in Vienna. S&P futures are up 0.3%, with the cash index set to open at new record highs.

Key Events In The Coming Thanksgiving-Shortened Week

The key economic releases this week in the Thanksgiving-shortened week are the durable goods report and new home sales on Wednesday. There are several scheduled speaking engagements from Fed officials this week. Minutes from the November FOMC meeting will be released on Wednesday.

Goldman Now Expects OPEC To Reach Production Cut Deal, Raises Q1, Q2 Oil Price Forecast; Cuts Q3, Q4

"Our base case is now that an OPEC production cut will be announced and implemented with OPEC production at 33.0 mb/d in 1H17 and a Russia freeze at 11.6 mb/d. As we have flagged previously, this leads us to reverse the direction of our 2017 oil price path: normalizing inventory levels will generate backwardation by 2Q17 and leads us to raise our 1Q and 2Q17 WTI price forecasts to $55/bbl from $45/bbl and $50/bbl previously."

Trumpflation Takes A Breather As Global Stocks Rise, Oil Jumps On Renewed OPEC "Deal Optimism"

With the Trumpflation euphoria easing back slightly overnight, leading to a modest paring in the USD index and US Treasury yields, Asian and European stocks rose, while US equity futures rebounded to just shy of new all time highs, as crude jumped on renewed optimism that OPEC will agree to cut output; metals rebounded from last week’s losses as yields dropped and the dollar halted its longest winning streak versus the euro.

The Coming Financial Backlash For Silicon Valley And Much, Much More

Silicon Valley has a problem, a very big problem. And it’s not rooted in just the geographic location. Everything (and I do mean everything) that was once assumed “a given” or, “totally worth it” or, the more memorable “it’s different this time” rationales as it pertained to startups, social media, valuations, user metrics, IPOs, unicorns, etc., etc. is about to be piled onto the ever burgeoning trash-bin of history...

Fear And Loathing Inside The Deep State

Everyone in the Deep State is threatened by the Trump Presidency. The Deep State understands that power, funding, ideological stratagems and domination of government, media, academia, think tanks and NGOs are in the ‘field of fight’. Drain the Swamp pertains to more than getting the corruption out of the system.

China Warns It Is Ready To Slow Yuan Plunge On Capital Outflow Fears

While Chinese policymakers have taken the yuan's recent slide in stride, they are getting ready to slow its descent - i.e., sell reserves -  for fear of fanning capital flight if the currency falls too quickly through the psychologically important 7-per-dollar level, Reuters reports citing policy advisers.

Euro In Historic Slide As Dollar Surge, Bond Rout Continues

More of the same this morning as the dollar extended its advance on the still undeteremined Trump reflationary policy measures after Yellen signaled an interest-rate hike could be imminent, while bond yields around the globe rose again, metals declined,  European stocks advanced and futures were modestly in the red just shy of all time highs.