Stocks & Bonds Sink Despite Hot Apple, Roasted Turkey, Euphoric Fed

Seemed appropriate...

 

So Apple beat expectations...and a buying panic ensued...

But disappointed everyone by not becoming the first company to be worth ONE TRILLION DOLLARS today... Doubled in size since June 2016

 

Little to no real initial reaction to The Fed statement... and then the machines remember that they are supposed to bid stocks and puke gold...

 

Futures show the reaction shortly after the close to Apple (green) and Trump's tariff headlines (red) and then the pump and dump through the EU close...

 

Despite AAPL's help, S&P and Dow ended red with only Nasdaq green on the day... (NOTE the ramp in AAPL to get the S&P green very briefly - that failed)

 

 

 

While AAPL ripped, FANG stocks could not catch a bid

All eyes on Tesla after hours as bonds lead the carmaker lower...

 

Wells Fargo was funny - dropping ion its big fine and then ramping in a buying panic...

 

Treasury yields were higher across the curve with the long-end notably underperforming...

 

With 10Y Yield topping 3% (the same as at the June Fed hike)...

 

Before falling back to hover around the 3.00% into the close...

 

The yield curve steepened

 

The Dollar Index ended the day practically unchanged

 

The Turkish Lira collapsed to a new record low (above 5.00/USD) after US sanctions...

 

And Offshore Yuan slumped (after another weak Yuan Fix)...

 

Cryptos tumbled overnight on South Korea tax headlines but bounced back a little... (Ripple ripped)

 

Commodities remain lower on the week, with copper leading the drop...

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Happy 20th Anniversary on CNBC Michelle

Comments

D.r. Funk BandGap Wed, 08/01/2018 - 21:58 Permalink

I started calling the Russia narrative a psyop before anyone else I know of. By the last week of nov I knew "what i was hearing". That article was Dec'16 if you didn't see, and since you probably won't be checking back in at this point seeing this, you won't know how hastily myopic you proved yourself to be.

To the downvoters and bandgap's supposition, the, timeline, and, attempt, to takedown pres. 45 is intimately related to the indexes and their positioning. If they get a takedown the so-called rationale for the 8000 dow pts since election day comes off. They most-likely created the 8000 pts for a trigger moment

So most of you need to STFU

Do you seriously think the indexes weren't part of the options post elections. And are at play or imminently at play on a breaking-pt-headline-development?

 

In reply to by BandGap

shizzledizzle Wed, 08/01/2018 - 16:10 Permalink

Yield curve inversion or rapid inflation, that is their options and today made it clear what they are going with. Bad time to sit on their hands while the effects of tariffs will surely start showing up in the pipeline. They will of course massage the numbers but not forever, people are getting wise to their BS... Foreign debt holders included.  

Fantasy Free E… Wed, 08/01/2018 - 16:14 Permalink

All of this is highly orchestrated. Accounting laws are not being enforced. Every earnings season there are earnings surprises like AAPL today. This is especially true when other companies earnings are less than stellar. The way GDP is calculated it can be whatever it needs to be for a given quarter. Watch for the good news of the century to try and counter the beginning of the typically weak fall season.

 

http://quillian.net/blog/the-deficit-spending-racket/