Conventional wisdom nowadays says deficits don’t matter, but that ignores the “vulnerability” of the current business cycle being so dependent on federal deficits.
After surging all day and hitting a new all time high of $1,299.24, moments ago Google parent Alphabet reported earnings which beat on the top line but missed on EPS, sending the stock lower, erasing almost all of its gains.
US oil and refined products trade, UK political parties’ energy policies, and a glut of Russian coal on the European market dominate the week's headlines...