It’s a glorious fall morning in the northeast corridor of the United States. Futures are indicating +80 and European markets are racing higher. The dollar is up again, emboldened by Fed’s Rosengren’s scandalous comments on CNBC this morning.
ROSENGREN: WE MAY HAVE TO RAISE RATES FASTER THAN MKT FORECASTS. or not at all
— zerohedge (@zerohedge) October 14, 2016
Separately, the trifecta of evil banks, C, JPM and WFC, all beat estimates — most likely due to the sale of human souls to the devil. As such, those shares are indicating higher in the pre-market.
JPMorgan Chase prelim Q3 $1.58 vs $1.39 Capital IQ Consensus Estimate; GAAP revs $24.7 bln vs $23.69 bln Capital IQ Consensus Estimate
Citigroup prelim Q3 $1.24 vs $1.16 Capital IQ Consensus Estimate; revs $17.8 bln vs $17.32 bln Capital IQ Consensus Estimate
Wells Fargo prelim Q3 $1.03 vs $1.01 Capital IQ Consensus Estimate; revs $22.3 bln vs $22.06 bln Capital IQ Consensus Estimate
Crazy indian chief, Senator Warren, penned a monotonous 12 page letter to the golfer in chief, asking him to fire the SEC head, Mary Jo White. In it, she blamed White for global warming and also fuckery on a largess scale.
“Chair White’s refusal to move forward on a political spending disclosure rule serves the narrow interests of powerful executives who would prefer to hide their expenditures of company money to advance their own personal ideologies.”
It’s utter nonsense, really. I am sure the President tore the letter up and spit on it as it made its way into the garbage.
Also, speaking of bankers, there is a report out today saying Deutsche Bank might shit can another 10,000 worker bees.
Rejoice.
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“Crazy indian chief, Senator Warren, penned a monotonous 12 page letter to the golfer in chief, asking him to fire the SEC head, Mary Jo White.”
Dude.. where have you been? Now that’s vintage Fly. Thank you.
+1
With the Turkey Gods booked on cheap flights and Santa Clause right about the corner, I really don’t see how this market goes anywhere but up. FED hike of a mere 25 BPS has been assumed for months. There will be no fireworks this year.
What about earnings of retailers, oil companies, drug companies, tech?
Isn’t the PE ratio of the S&P pretty high now?
And why are all the Tea Baggers and Trumpists bitching about
the condition of the USA at present?