Archive for 2017

Schwarzman Makes ‘A Rigged Game Worse,’ Democrats Say

By International Business Times. Originally published at ValueWalk.

Schwarzman Makes ‘A Rigged Game Worse,’ Democrats Say

Wisconsin Democratic Sen. Tammy Baldwin became the first federal lawmaker to call for Blackstone CEO Stephen Schwarzman to recuse himself from Trump administration policy that affects Schwarzman’s private equity firm. Baldwin’s criticism was echoed by the senior Democrat on the Senate Banking Committee, which oversees many of the economic issues Schwarzman has been working on with…

By Financial Times [CC BY 2.0], via Wikimedia Commons

The post Schwarzman Makes ‘A Rigged Game Worse,’ Democrats Say appeared first on ValueWalk.

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The Tax Cuts are Coming! It’s the Stock Trader Weekly Recap.

Courtesy of Blain.

Forgetting the traditional market news, as we began last week both the NASDAQ and Russell 2000 were at critical support.  A rally Monday showed those support levels held, giving bulls breathing room.  We’ll discuss this more below after we get through the more fundamental news items that transpired.   Traders seemed to breath easier on Monday seeing no escalation with North Korea and came in ready for a bit of a relief rally.

The lack of a nuclear test from North Korea over the weekend did much to reverse defensive positions adopted by traders heading into the weekend, said Ian Winer, director of equity trading at Wedbush Securities.

It was a very heavy week of S&P 500 type earnings with banks leading the way in the first half of the week. Then a series of large sized companies across the spectrum.

The tax cuts are coming! The tax cuts are coming!  Thursday saw another rally as the “Trump tax relief” was hinted at – yet again.   The market has seemingly rallied on this “prospect” countless times since November.

Mnuchin, speaking at an Institute of International Finance conference, said a Trump tax bill is likely to be unveiled in the near future, alleviating fears that the tax cuts promised by the president may have been put on the back burner after the Republicans failed to vote on the American Health Care Act last month.  “[His] comments today were icing on the cake and are giving investors confidence that the long term economic backdrop will be getting better,” said Karyn Cavanaugh, senior market strategist at Voya Financial.

Then Friday, Trump himself chimed in to the Associated Press.

In an interview with The Associated Press, Trump says the plan will result in tax cuts for both individuals and businesses. He would not provide details of the plan, saying only that the tax cuts will be “bigger I believe than any tax cut ever.”  The president says the package will be released on “Wednesday


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Chinese Stocks Are Plunging

Courtesy of ZeroHedge. View original post here.

Despite a liquidity injection and the rest of the world in ‘risk-on’ mode over the French election results, Chinese markets are tumbling…

On Friday, we asked “Is China Trying To (Slowly) Burst Another Stock Market Bubble?” as Chinese monetray conditions were tightening dramatically…

And, as Bloomberg reports, it seems the catalyst is further crackdowns on shadow-banking.

China’s banking regulator, which said late Friday it will focus on guarding against financial risks, has ordered local units to assess cross-guaranteed loans, according to a Caixin report.

Having gone 86 trading days without a loss of more than 1% on a closing basis, the longest stretch since the market’s infancy in 1992…

It seems they might be… (or The National Team is going to have to work very hard today)…

As Shanghai Composite breaks below ist 200-day moving-average withe the biggest intraday drop since Dec 12th…

CHINEXT (China’s Nasdaq) is also getting hammered – testing its lowest levels since February 2015….





Pollsters Get One Right: Macron and Le Pen Square Off in Round Two as Expected

Courtesy of Mish.

Emanuel Macron and Marine Le Pen will square off in round two of the French elections as most expected.

Here are a few clips from Guardian French Presidential Election Live

Evening summary

Emmanuel Macron has beaten the far-right leader Marine Le Pen in the first round of the French presidential election, with a projected total of 23.7% to Le Pen’s 21.9%.

The two candidates – the first pro-European and internationalist, the other anti-EU and protectionist – will now face off in a second round run off on 7 May. Polls have consistently forecast Macron will beat Le Pen and become France’s next president.

The scandal-hit conservative candidate, François Fillon, and Socialist candidate, Benoît Hamon, both conceded defeat and called on their supporters to back Macron.

The first round result is an epochal political upheaval for France. For the first time in the nearly 60-year history of the Fifth Republic, neither of the candidates of the established parties of left and right will be in the run off.

Speaking in her home constituency of Hénin-Beaumont, Le Pen said the French people now faced a very simple choice:

“Either we continue on the path to complete deregulation, or you choose France. You now have the chance to choose real change. This is what I propose: real change. It is time to liberate the French nation from arrogant elites who want to dictate how it must behave. Because yes, I am the candidate of the people.”

Macron said that in the space of a year, since founding his En Marche! movement, it had “changed the face of French politics” and asked for a big victory for a large governing majority:

“I want to construct a majority to govern and to transform, of new talents, in which all will have their place. I will not ask where they come from, but whether they agree with the renewal of our politics, the security of the French people, reforming society and relaunching the European project. You are the face of this renewal. My fellow citizens, there is not more than one France. There is only one, ours, the France of patriots, in a Europe that protects and that we must reform. The task is immense, but I am ready, at your sides. Vive la République, vive la


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Trump: If The DOJ Wants To Arrest Assange, “It’s OK With Me”

Courtesy of ZeroHedge. View original post here.

Having selected several key excerpts from Donald Trump’s lengthy AP interview earlier, we urge readers looking for fascinating yet surreal bedtime reading to give the full, nearly 8,000 word transcript a try, as it contains bizarro excerpts such as this:

AP: You did put out though, as a candidate, you put out a 100-day plan. Do you feel like you should be held accountable to that plan?

TRUMP: Somebody, yeah, somebody put out the concept of a hundred-day plan. But yeah. Well, I’m mostly there on most items. Go over the items, and I’ll talk to you … (Crosstalk.)

TRUMP: But things change. There has to be flexibility. Let me give you an example. President Xi, we have a, like, a really great relationship. For me to call him a currency manipulator and then say, “By the way, I’d like you to solve the North Korean problem,” doesn’t work. So you have to have a certain flexibility, Number One. Number Two, from the time I took office till now, you know, it’s a very exact thing. It’s not like generalities. Do you want a Coke or anything?

AP: I’m OK, thank you. No. …

Yet what caught our attention was the following excerpt on a topic that has re-emerged in recent days in the aftermath of the spat between Julian Assange and the new CIA chief Mike Pompeo, who last week made it clear Assange’s days as a quasi-free man are numbered. And, as the following exchange between the AP and Trump notes, the president does not harbor any partcularly fond feelings for the man who has been accused of being a Russian plant or spy and crushing Hillary Clinton’s election chances. That, and so much more in the following bizarre exchange:

AP: Jeff Sessions, your attorney general, is taking a tougher line suddenly on Julian Assange, saying that arresting him is a priority. You were supportive of what WikiLeaks was doing during the campaign with the release of the Clinton emails. Do you think that arresting Assange is a priority for the United States?

TRUMP: When Wikileaks came out … never heard of Wikileaks, never heard of it. When Wikileaks came out, all I was just saying


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These Are The Tallest Buildings In Each State

Courtesy of ZeroHedge. View original post here.

One of the most interesting things about skyscrapers and high-rises is their competitive aspects.

The Empire State Building, The Burj Khalifa, and other tall buildings were built, in part, to say to the rest of the world: “Look what we can do!”

In this infographic, we take a look at the tallest buildings of each state. How tall would a state stand, based on its tallest building?  Which states have the most high-rise buildings?  What are most skyscrapers used for? 

The United States Ranked by the Tallest Building in Each State - HighRises.com - Infographic

Source: Highrises.com





Key Events In The Coming Busy Week: US GDP; ECB & BOJ Meetings, And Lots Of Earnings

Courtesy of ZeroHedge. View original post here.

The key economic releases this week are the durable goods report on Thursday and Q1 GDP on Friday.  It iweek is the busiest week of earnings season, with 40%  of S&P 500 equity cap reporting. In addition, there are a few scheduled speaking engagements by Fed officials this week. 

Further, as SocGen notes, this week, markets will digest the French election results, with data releases focusing on the strength of the euro area recovery. The ECB may signal upside risks to near-term growth ahead of higher core inflation on Friday. EU leaders will meet to adopt Brexit negotiation guidelines. In the US, softer 1Q GDP data will be scrutinized, while rising inflation in the UK may have a longer term impact on growth. In Asia, GDP data should be boosted by net exports while the BoJ may upgrade it economic assessment.

United States: Q1 GDP likely to show weak growth

This week, consensus expects broadly unchanged new home sales as well as subdued business investment (ex aircraft orders). Most of the focus will be on Friday’s Q1 GDP where the Atlanta Fed expects growth to tumble to just 0.5%. Still, the Fed (and markets) is used to softness in Q1 growth that at least in the past has snapped back in the second half. Lastly, a one- or two-week bill looks likely to keep the government open past the Friday deadline, giving Congress a bit more time to work on a longer-term deal.

Euro area: ECB to acknowledge upside risks to near-term growth.

While markets will digest the French election results, the ECB will likely acknowledge upside risks to growth in 1H on Thursday while remaining on hold. Both headline and core inflation should recover by two-tenths on Friday, while the first 1Q GDP estimates for France (0.2% qoq) and Spain (0.7%) will give an early indication for the euro area (next Wednesday). Both the EC confidence indicators and the German Ifo will probably moderate but are expected to remain high. A special summit of EU-27 leaders (Saturday) will set the guidelines for the EU in the upcoming negotiations with the UK.

Asia Pacific: Solid 1Q GDP gains in Korea and Taiwan; BoJ may upgrade assessment

First quarter GDP data from South Korea and Taiwan are likely to


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FX Volatility Crashes As Traders Unwind “Existential Euro” Hedges

Courtesy of ZeroHedge. View original post here.

Heading into today’s vote, FX options markets had seen massive demand for downside protection against a result that threatened the euro’s existence. That didn’t happen and so those hedges are being unwound en masse with the biggest drop in EURUSD implied vols in history

Close up, 1mo EURUSD vols erased all the damage from the last few weeks’ fears…

And Risk-Reversals (which measure the skew or relative demand for downside protection over upside), have spiked back to near ‘normal’ levels…

Notably EURJPY (which was one of the biggest movers tonight) has begun to fade quite significantly…

Retracing 50% of its spike as the world wakes up to debt ceiling concerns and what the ECB will do…





How Did NY Gov. Cuomo Make $783,000 From A Book That Sold Only 3,200 Copies?

Courtesy of ZeroHedge. View original post here.

Fox News Channel parent News Corporation may be wrapped up in the sexual harassment accusations surrounding host Bill O’Reilly, but, as International Business Times’ Lydia O’Neal reports, the company is facing another long-running scandal involving what appear to be exuberant payments to a Democrat - payments that occurred even as News Corp. was lobbying the New York State executive branch, which Gov. Andrew Cuomo oversees.

The New York governor, whose memoir was published by the News Corp.-owned HarperCollins in 2014, saw his gross income more than double last year, to $417,748 for 2016 (from $196,243 the year before), the Buffalo News reported Tuesday. Cuomo attributed $218,100 of that increase to sales of his memoir, “All Things Possible: Setbacks and Successes in Politics and Life.”

In 2015, the governor reportedly earned zero income from book sales and in the nearly three years that it’s been on the market, it has sold just 3,200 copies. But Cuomo, the Buffalo News found, reported that he received a total of $783,000 from HarperCollins in book sales over the past three years,  a number that would translate to royalty payments of nearly $244.69 per copy.

Today, the book was selling on Amazon for $8.45.

A spokesperson for Gov. Cuomo told International Business Times, “This payment was contractual and per the agreement with the publisher.” A spokesperson from HarperCollins said the publisher does not “comment on financial matters relating to our books.” News Corp. did not respond to IBT requests for comment.

News Corp., in the meantime, was registered as a lobbying client as recently as December 2016, according to the New York State government lobbying database. The mass media company, created and headed by Executive Chairman and former CEO Rupert Murdoch, has a long history of lobbying Cuomo’s office for the passage of bills beneficial to its businesses, as previously reported by IBT.

Government documents reviewed by IBTimes show that News Corp. and its subsidiary Twenty-First Century Fox, Inc., through the law firm Greenberg Traurig, put tens of thousands of dollars behind efforts related to state legislation from the executive branch that affected the media industry, while paying Cuomo book royalties.

Read more here…





Outrage After At Least 5 EU Nations Elect Saudi Arabia On UN Women’s Rights Council

Courtesy of ZeroHedge. View original post here.

In what may have been the biggest trolling of the United Nations in recent history, Saudi Arabia was elected via secret ballot in the UN Economic and Social Council to the 45-member UN Commission on the Status of Women last week. According to Reuters, twelve other countries were also elected by the council in Geneva to serve for a four-year term, ending in 2022: Algeria, Comoros, the Democratic Republic of the Congo, Ghana, Kenya, Iraq, Japan, South Korea, Turkmenistan, Ecuador, Haiti and Nicaragua.

The news promptly sparked mocking and ridicule. UN Watch, a human rights organization monitoring the performance of the United Nations, strongly condemned the appointment of Saudi Arabia to post,citing Riyadh’s poor women’s rights record and widespread gender inequality.

Electing Saudi Arabia to protect women’s rights is like making an arsonist into the town fire chief. It’s absurd,” Hillel Neuer, the UN Watch chief, said.

Every Saudi woman “must have a male guardian who makes all critical decisions on her behalf, controlling a woman’s life from her birth until death. Saudi Arabia also bans women from driving cars,” Neuer added.

Who voted for Saudi Arabia? At least 5 EU nations based on UN Watch math: “Neuer said that seven of the 54 council states did not vote for Saudi Arabia, and that, based on his count, five of the 12 EU states on the council voted in favor of Saudi Arabia. It received the least amount of votes out of all of the 13 newly approved members, he added.”

At least 5 EU states voted FOR the Saudis.
Belgium?
Czech?
Estonia?
Finland?
France?
Germany?
Greece?
Ireland?
Italy?
Portugal?
Sweden?
UK? pic.twitter.com/e4FPK1PgMB

— Hillel Neuer (@HillelNeuer) April 23, 2017

Twitter users were just as amazed at the news:

@HillelNeuer@UN_CSW@UNECOSOC I wish I could find the words to express how I feel right know. I’m ‘saudi’ and this feels like betrayal.

— kh.oz (@khuludAu) April 23, 2017

Absurd! UN couldn’t have done bigger injustice to women’s cause
UN Elects KSA to Women’s Rights body https://t.co/Nk2ecKmxc0 via @unwatch

— Baqir Sajjad (@baqirsajjad) April 23, 2017

Insane! Saudi Arabia is elected chieftain over women’s rights by U.N? A country where women aren’t allowed to drive? https://t.co/mZZHfQvXGa

— Luna Safwan


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Zero Hedge

Johns Hopkins, Bristol-Myers Face $1 Billion Suit For Infecting Guatemalan Hookers With Syphilis 

Courtesy of ZeroHedge. View original post here.

A federal judge in Maryland said Johns Hopkins University, pharmaceutical company Bristol-Myers Squibb and the Rockefeller Foundation must face a $1 billion lawsuit over their roles in a top-secret program in the 1940s ran by the US government that injected hundreds of Guatemalans with syphilis, reported Reuters.

Several doctors from Hopkins an...



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Phil's Favorites

This Is The One Chart Every Trader Should Have "Taped To Their Screen"

Courtesy of Zero Hedge

After a year of tapering, the Fed’s balance sheet finally captured the market’s attention during the last three months of 2018.

By the start of the fourth quarter, the Fed had finished raising the caps on monthly roll-off of its balance sheet to the full $50bn per month (peaking at $30bn USTs, $20bn MBS, although on many months the (balance sheet) B/S does not actually shrink by this full amount which depends on the redemption schedule) and by end-Q4 markets also experienced some of the largest volatility and drawdowns in nearly a decade.

As Nomura&...



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ValueWalk

The Competition For Capital Has Made Stocks Cheap

By Michelle Jones. Originally published at ValueWalk.

The new year is upon us, and now is the time many investors look at what 2018 was and prepare for what 2019 might be. Recession jitters are starting to pick back up again, especially now that the full picture of 2018 is in the books. But what if you could pick only one theme for 2018? Jefferies strategist Sean Darby and team have a suggestion which is especially timely given that it appears to mark the end of an era.

StockSnap / PixabayVolatility carries into the new year

This past year was one of extremes, and the markets ended i...



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Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...



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Digital Currencies

Transparency and privacy: Empowering people through blockchain

 

Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...



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Insider Scoop

Cars.com Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ...

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Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

In last week’s recap we asked:  “Has the Fed solved all the market’s problems in 1 speech?”

Thus far the market says yes!  As Guns n Roses preached – all we need is a little “patience”.  Four up days followed by a nominal down day Friday had the market following it’s normal pattern the past nearly 30 years – jumping whenever the Federal Reserve hints (or essentially says outright) it is here for the markets.   And in case you missed it the prior Friday, Chairman Powell came back out Thursday to reiterate the news – so…so… so… patient!

Fed Chairman Jerome Powell reinforced that message Thursday during a discussion at the Economic Club of Washington where he said that the central bank will be “fle...



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Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Biotech

Opening Pandora's Box: Gene editing and its consequences

Reminder: We are available to chat with Members, comments are found below each post.

 

Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from www.shutterstock.com

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.

...

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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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