It's relatively quiet week where the highlights will be the latest global PMIs, the Aug 23 US-China tariff deadline, the minutes from the last FOMC and ECB meetings and, of course, Jackson Hole looms at the end of the week.
It is hard to escape the notion that we are approaching the edge of some profound historical moment that will have far-reaching, literally life and death consequences, both domestically and internationally...
During a quarter of broken or barely-kept promises, unprofessional outbursts on conference calls, rationality-questioning tweets, and a record loss, it is perhaps no surprise that some of Elon Musk's biggest backers are committing mutiny.
"Trump cancelled the Iran deal because a different group of billionaires are now in control of the White House, and of the rest of the US Government. Trump’s group demonize especially Iran; Obama’s group demonize especially Russia. "
A renewed round of tariffs against China by president Trump dented bullish sentiment, but nothing appears able to stop the S&P which is just 14 points from making a new all time high, a goal it will likely achieve today.