Stocks Unch, Oil Ends Lower, Rial Crashes After Trump Pulls Out

"storm in a teacup"...

 

Of course today's big headline was confirmation that Trump is pulling US out of the Iran Nuclear Deal. That sparked some volatility in WTI that suggest extreme positioning is at play... Gold was also in play after Trump's address...

 

Defense stocks rallied happily on the back of Israel bomb shelter headlines and of course Trump/Iran...

*  *  *

Overall the day was mixed with Trannies and Small Caps outperforming and Nasdaq, Dow, S&P all lagging as machines tried desperately to get them green...and they all closed within a tick of unch

 

VIX was monkeyhammered back to a 14 handle after Trump's headlines - which makes perfect sense as things just got a whole lot less uncertain... all to get the Dow green - no matter how briefly - WTF!

 

S&P tagged its 50DMA but failed to hold it and rolled over...

 

Treasury yields were modestly higher on the day but rallied after Trump's announcement...

 

But the yield curve flattened once again to its lowest close since Oct 2007...

 

The Dollar rallied once again - but driven by overnight gains and US session weakness...

 

The Dollar closed green for 2018...

 

But it was Emerging Market FX that was in real trouble once again as Argentina, Mexico, and Turkey all saw currencies slump...

 

And Black market prices have crashed to 85,000 Rials per USD (a 50% weakening from the government's official rate)...

 

Cryptocurrencies slipped a little lower today with only Bitcoin Cash higher on the week...

 

Gold ended the day marginaly higher and crude lower...

Comments

MoreSun mkkby Tue, 05/08/2018 - 18:53 Permalink

While the synagogue of satan aka so-called israel agitates for more and more wars.

They are also Destroying your rights of FREE SPEECH:

"As is expected in this upside-down world of ours, while Mamma Merkel roams free to wreak havoc and cause more rapes and deaths of Germans at the hands of her sainted and untouchable Turd World "migrants," Ursula (89) and Monika (60's) -- with the gleeful approval of Jews all over the world -- are condemned to waste away a few years in German prisons for their thought-crime of Holocaust Denial" ™. Boy-oh-boy, the "usual suspects" sure do make it difficult for decent people of good will not to "hate" them, don't they?"

Dear God please effect the release of these women: Ursula Haverbeck, Monika Schaefer, Sylvia Stoltz from their jew supremacist terrorist oppressors !

http://tomatobubble.com/haverbeck_schaefer.html

In reply to by mkkby

pickatheweek Tue, 05/08/2018 - 16:10 Permalink

See My Finger?

There, fixed it for ya.

....................../´¯/)

 

....................,/¯../

 

.................../..../

 

............./´¯/'...'/´¯¯`·¸

 

........../'/.../..../......./¨¯\

 

........('(...´...´.... ¯~/'...')

 

.........\.................'...../

 

..........''...\.......... _.·´

 

............\..............(

 

..............\.............\...

taketheredpill Tue, 05/08/2018 - 16:13 Permalink

 

Yeah for sure.  When Donald says "thats it" and walks away from the table you know for sure he's never coming back...better cave and grab any kind of deal possible.

 

 

lizzoilz Tue, 05/08/2018 - 16:25 Permalink

Shep wave still showing the trading range?

After the call last week to go long their warning to take profits was perhaps a sign of new trend coming.

MoreSun Tue, 05/08/2018 - 18:53 Permalink

While the synagogue of satan aka so-called israel agitates for more and more wars.

They are also Destroying your rights of FREE SPEECH:

"As is expected in this upside-down world of ours, while Mamma Merkel roams free to wreak havoc and cause more rapes and deaths of Germans at the hands of her sainted and untouchable Turd World "migrants," Ursula (89) and Monika (60's) -- with the gleeful approval of Jews all over the world -- are condemned to waste away a few years in German prisons for their thought-crime of Holocaust Denial" ™. Boy-oh-boy, the "usual suspects" sure do make it difficult for decent people of good will not to "hate" them, don't they?"

Dear God please effect the release of these women: Ursula Haverbeck, Monika Schaefer, Sylvia Stoltz from their jew supremacist terrorist oppressors !

http://tomatobubble.com/haverbeck_schaefer.html