Shares of Apple Inc. tanked Thursday, after the technology giant’s revenue warning triggered an avalanche of price target cuts by Wall Street analysts. Half of the 41 analysts surveyed by FactSet cut their targets, some by as much as $100. That knocked the average target down by about 13% to $187.03, from $215.91 on Monday, […]
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China Allows First-Ever Rice Imports Ahead of Trade Talks…
China has opened the door to imports of rice from the United States for the first time ever in what analysts took to signal a warming of relations between the world’s two biggest economies after a frosty year marked by tensions and tit-for-tat tariffs. The green light from Chinese customs, indicated in a statement posted […]
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1000 Cuts. Gig Economy, Entrepreneur and Gov Licensing…
Can we agree that professional licensing requirements are meant to be exclusionary? Whatever opportunity there was, that door is being closed. Can we also agree that the government doesn’t create anything? Every penny they spend on this or that is a tax. Some taxes fund the civic virtues, schools, hospitals, entitlements, a bunch of good…
CEA Chairman Kevin Hassett Discusses Disconnect Between Wall Street and Main Street…
The investment instruments created by Wall Street billionaire hedgefund managers and institutional multinational banking interests; operated by robotic algorithmic data networks, while programmed to twitch and flitter with coded signals only decipherable by the hired engineers; are wildly swinging amid their detachment from Main Street. This fluctuating Wall Street process is likely to continue; actually, […]
The Culprit Behind Last Week’s Market Rout Emerges…
On Monday we reported that in a market overflowing with losers, one clear winner had emerged: passive investors in general, and Blackrock in particular, whose exchange-traded fund business attracted more than $25 billion in November inflows, a record monthly haul for the company. Recall that whereas last week EPFR reported that total stock funds suffered […]
Why Stocks Are Soaring: A Massive, $64 Billion Buy Order…
Last Friday, when stocks were tumbling, we reported “some good news for the bulls” which was lost in the overall chaos over the latest mutual fund liquidation discussed earlier. And no, we did not anticipate that President Trump would activate the Plunge Protection Team over the weekend: the good news in question was that as […]
Peter Schiff: We’re in a house of cards that the Fed built…
Economic analyst Peter Schiff, who accurately predicted the 2008 recession said recently that we are not in a bear market. Instead, “we’re in a house of cards that the Fed built.” Schiff is referring to the Federal Reserve, the United States’ central bank that answers to no one, has no competition, and has been responsible […]
Good Grief! Enough of the Drama and Pass the Damned Bill…
The Senate on Friday was scrambling to take up a spending package with billions in funding for a border wall, as President Trump made clear there’s a “good chance” for a partial government shutdown at midnight. Behind the scenes, negotiations were still ongoing into the late afternoon, with Vice President Mike Pence seen meeting with […]
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Former Goldman Vice President Pleads Guilty to Insider Trading…
A former Goldman Sachs Vice President pleaded guilty on Wednesday to insider trading, after prosecutors alleged that he made over $130,000 in illegal profits. From 2015 through 2017, Woojae “Steve” Jung used his access to material non-public information on Goldman clients’ potential parties to mergers, acquisitions and corproate restructurings to trade through an account established […]
Treasury Drops Sanctions Against Rusal After Striking Deal with Russian Oligarch…
Offering some relief to industrial firms in the US and Europe, which have struggled with higher aluminum prices (on top of Trump’s tariffs on aluminum entering the US), the Treasury announced on Wednesday that it has struck a deal with Russian billionaire Oleg Deripaska to remove sanctions on Rusal, En+ Group Plc and JSC EuroSibEnergo […]
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U.S. Secures 20-year Deal to Supply Natural Gas to Poland…
Poland has signed a long-term deal with a U.S. company for supplies of liquefied natural gas as part of an effort to reduce its dependence on Russian energy, the two sides announced on Wednesday. Port Arthur LNG, a subsidiary of San Diego-based Sempra Energy, and Poland’s state gas company PGNiG jointly announced the agreement for […]
Stocks Look to Be in for More Pain After Fed-Day Rout: ‘The market is in no man’s land’…
Stocks are extremely oversold, but investors still seem bent on selling after the Federal Reserve disappointed markets with a less dovish message than expected. “The bears have been writing the script,” said Scott Redler, partner with T3Live.com. The S&P 500 lost 1.5 percent Wednesday to 2,506 and is nearly 15 percent off its September high. […]
Fed Raises Interest Rates, Stocks Plunge…
Yes, The Fed’s FOMC announced another 25 basis point increase at the last Fed meeting for the year) while decreasing their outlook for next year. Fed officials tweaked their forward guidance to say “some” further gradual rate increases will still be needed…
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14,889,930,106,680 Reasons to Fear Recession…
Traders and investors will be glad to see the back of 2018. It’s been the worst rout since 1901, by Deutsche Bank AG’s reckoning, with almost every asset class delivering losses. These charts illustrate the backdrop to what went wrong this year — and hint at what could go better in 2019. $14,889,930,106,680. That’s how […]
It’s Happening – This Is “THE” Fight, There Are Trillions at Stake…
CTH has pointed, repeatedly, toward a very specific economic and financial dynamic because President Trump is uniquely focused on Main Street’s “real economy“. Everything happening in/around the financial markets is very predictable when you focus on understanding the principles of Main Street MAGAnomics and how those basic principles diverge from Wall Street’s “paper economy”. “Everything […]
China to Cut Tax on US Vehicles to Ease Trade Tensions…
China will remove the retaliatory duty on automobiles imported from the U.S. for three months in an effort to defuse trade tensions with the world’s biggest economy. The 25% tariff it imposed in a tit-for-tat measure will be scrapped starting Jan. 1, the finance ministry said Friday. Earlier this week, Bloomberg News reported that China […]
JPMorgan Faces Potential Class Action Lawsuit After Guilty Pleas by Former Precious Metals Trader…
Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years. At least six lawsuits, all making similar allegations against the nation’s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut unveiled a plea agreement […]
Opportunity Zones: Turning Neglected Neighborhoods Into Attractive Investments…
With incentives provided by the Tax Cut and Jobs Act, investors are eager to deploy money into opportunity zones, which are designed to bring investment and jobs to economically distressed areas. The opportunity zones project has the potential to become the nation’s largest economic-development program. By offering substantial tax breaks, this new program encourages private […]
“This Is A Bear Market”…
A sheepish Scott Wapner dared to ask DoubleLine’s Jeffrey Gundlach an open-ended question about the stock market, and we suspect the response he got was far from what he wanted to hear. “I’m pretty sure this is a long-term bear market for stocks…S&P is headed to new lows” “We’ve had pretty much all of the […]
Over $500k Spilled from Armored Truck, $300k Still Missing…
More than half a million dollars spilled from an armored truck onto a New Jersey highway, and nearly $300,000 remains missing a day later, police said Friday. East Rutherford police said in a statement that two bags of cash fell from a Brink’s truck near MetLife Stadium on Thursday. One of the plastic bags had […]
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