It looks like Spain is in trouble again and will be forced to enact ARTICLE 155, which all but boot stomps Catalonian heads into submission. One does not simply walk away from the Empire of Spain.
Ergo, Eurotrash stocks are flagging, lower by a solid 0.75% — led by the greaseballs in Italy, off by 1.26%.
WTI is off 1.15%, gold +0.4% and euro is +0.3% v the dollar.
Related: The Hang Seng was down the most in over a year, off by 552 or 1.9%.
Dow futures are down by 125, and the Nasdaq is -45. VIX is +16% to $11.73.
Prepare for blood.
On the analyst end, not much happening, other than Goldman downgrading NKE.
“The drivers of domestic pressure will take some time to work through, exacerbated by persistent excess inventory sitting at Nike’s brick and mortar retail partners and the high visibility this markdown product gets as it is funneled online via amazon.com and other platforms,” analyst Lindsay Drucker Mann wrote in a note to clients Thursday.
“Near-term dynamics are challenging … with an inventory overhang in the US hampering NKE’s ability to ‘reset’ the market.”
Catalonians wont like it.
You mean the communists, anarchist, and LGBTXYXLMNOP won’t like it.