SCOTUS

SCOTUS "Mostly" Reinstates Trump Travel Ban; Schedules October Hearing

It appears that Trump has been handed a 'partial' victory on his travel ban by the Supreme Court.  While SCOTUS revived a "narrowed" ban, they found that it can not be applied to people with a "credible claim of a bona fide relationship with a person or entity in the United States."  A hearing has been scheduled for October.

Traders Scramble To "Explain" Sudden Nasdaq Swoon

"Explanations" differed as to what spurred the 1% swoon in Nasdaq stocks an hour into trading, with everything from the velocity of last week’s rally, this morning’s economic data and the Supreme Court’s decision to hear arguments on the Trump administration’s travel ban and being cited.

17 AGs File Supreme Court Brief Opposing Trump Immigration Ban

Shortly after the 9th Circuit Court of Appeals ruled against Trump's "revised" travel ban in a largely moot decision as the White House already had appealed to the Supreme Court, moments ago 17 Attorneys General led by NY AG Eric Schneiderman, announced they are filing an amicus brief with the Supreme Court in opposition to Trump's "Muslim Ban." The AGs also argue that "this is not the right time for the Supreme Court to hear this case", an attempt to squash Trump's appeal before it is even heard.

Trump Administration Asks Supreme Court To Restore Travel Ban

"We have asked the Supreme Court to hear this important case and are confident that President Trump’s executive order is well within his lawful authority to keep the nation safe and protect our communities from terrorism," Justice Department spokeswoman Sarah Isgur Flores said in a statement.

Watch Live: Gorsuch Takes The Stand As Republican Threat Of "Nuclear Option" Looms

After a full day allotted for "opening statements" yesterday, Neil Gorsuch once again takes the stand before the Senate Judiciary Committee today but this time he'll actually be entertaining questions rather than sitting in awkward silence as Democrats takes potshots at his professional career.  Grab your popcorn because today's festivities are scheduled for 10 hours of fun.

This Won't End Well... Never Has

Q1 2017 will likely be the weakest period for economic growth of any rate hike since 1980; stock market earnings expectations are tumbling; uncertainty about the Trumpian pillars of stock market strength are surging, and various 'risk-on' asset classes around the world and breaking bad... and now, as RBC notes, something has dramatically, and suddenly changed in the market in recent days, as confirmed by bank's macro model provider.

Washington, New York And Oregon Sue To Block Trump's New Travel Plan

Washington state, together with New York And Oregon, will file a restraining order against President Trump's revamped travel ban, a move which could foreshadow a potential legal showdown between the administration and a wave of challenges to the controversial executive order.