Record highs in stocks....thanks to the illegal miracle of spoofing.
A gentle reminder from the minutes that many seemed to have missed: "some indicators suggested that valuations remained stretched for some asset classes."
The economy is growing, the markets are up, stocks are flirting with record highs… The good times are back for investors, so it seems, but are they really?
Emergency officials and Exxon Mobil were responding Tuesday afternoon to a ruptured pipeline that was leaking crude oil into the ocean off the Santa Barbara County coast, authorities said. The Santa Barbara County office of emergency management has identified the responsible party as Plains All American Pipeline. As The LA Times reports, by 3:45 p.m., the leak had left a four-mile-long sheen of oil extending about 50 yards into the waters along Refugio State Beach in Goleta, said U.S. Coast Guard Petty Officer Andrea Anderson.
Hello, Twitter! It's Barack. Really! Six years in, they're finally giving me my own account.
— President Obama (@POTUS) May 18, 2015
Here are the cliff notes of the Icahn letter:
- Uncle Carl and his two analysts remain convinced they know how to run AAPL better than its CEO and his thousands of employees.
- Uncle Carl and his two analysts have built up a massive stake in AAPL shares which however they can't get out of in this illiquid market without tipping the market they are selling - a tip which would promptly send the stock plunging - and as a result have come to the only buyer who is big enough to buy all of Icahn's shares without destabilizing the market: the company itself.
Tsipras has got the Eurogroup on speed dial now...
“the creepiest thing David Cameron has ever said.”
UPDATE: *BOSTON MARATHON BOMBER TSARNAEV SENTENCED TO DEATH
Just over 2 years after the devastating explosions that killed and maimed many during The Boston Marathon, Dzhokhar Tsarnaev is about to face his penalty. The jury of seven women and five men convicted Mr. Tsarnaev, 21, last month of all 30 charges against him, including 17 counts that carry the death penalty. After 14.5 hours of deliberation, the jury will announce at 3pmET whether he will face death or life in prison.
This should be good... as we explained earlier, analysts have pointed to a growing rift between the Obama administration and the Gulf’s Sunni states over the emerging nuclear deal with Iran as a chief reason for the snub, though the Saudi king, as well as his Bahraini counterpart, have denied such assertions.
Sitting in Silicon Valley, it feels like we’ve reached the peak again. Hot money is chasing deals at ridiculous valuations. Housing prices are more than incomes can cover. Optimism is high. Jobless Claims are at cyclical lows. We’ve seen this before, in 2000 and 2007.
For the second time in a week, amid ongoing discussions on infrastructure spending, a train has derailed in Pennsylvania. As CBS Pittsburgh reports, emergency crews have been called to a train derailment in Hazelwood. At least 10 cars are off the track but no injuries have been reported yet.
Want to know where the USD is headed? Call Riyadh!
- Amtrak train in Philadelphia wreck was traveling at twice speed limit (Reuters)
- The engineer has no recollection of the crash and “no explanation” for what happened (WSJ)
- Taliban claim attack on Afghan guesthouse that killed 14 (Reuters)
- Chicago’s Junk Rating From Moody’s Puzzles Investors (BBG)
- House votes to end spy agencies' bulk collection of phone data (Reuters)
- Wesley Clark: The Penny-Stock General (BBG)
- AOL’s Armstrong to Leave $213 Million Richer After Verizon Deal (BBG)
Shortly after 920pmET, NBC Philadelphia reports an Amtrak train bound for New York from Washington D.C. derailed with approximately 240 people on board. Officials say 8 to 10 cars left the tracks and there are at least 50 injured. Mayor Michael Nutter confirmed 5 dead and several more critically injured, "It is an absolute disastrous mess," he said. "I've never seen anything like this in my life."