Interest rates are steady, dollar is weak, futures are +250 off their lows, and WTI and gold are higher. This has all of the trappings of a short squeeze. Pessimism was running high last night, after China ‘retaliated’ against US tariffs by targeting a whole $3b in industry. Meanwhile, Trump has replaced McMaster with an absolute devil of a person, John ‘Neocon’ Bolton. Trump supporters will say ‘Trump doesn’t listen to his advisors anyway”, in a serious way as if having a dictatorship is a good thing.
Moving on, I’m expecting markets to gyrate today, but ultimately prevail on the upside. Keep your eyes on crude, for it holds the secrets of the illuminati and what those fucking bastards are up to. Right now it smells of Iran.
Here’s a detailed look at China’s retaliatory tariffs (fruits, nuts, wine, steel).
And here are some other morning headlines.
Supervalu, grocery peers on watch amid reports that Target (TGT) & Kroger (KR) are said to be in talks to merge (14.76)
Related: SFM, WMT, AMZN, NGVC, UNFI, WMK
Atlanta Fed President Raphael Bostic says inflation trending toward 2% target; says Fed ‘at or near’ goals; further rate hikes needed
GSV Capital prices $40 mln in aggregate principal amount of 4.75% Convertible Senior Notes due 2023
Micron target raised to $100 at Rosenblatt following earnings, matching Street high
GoDaddy initiated with a Buy at Goldman; tgt $81
Wix.com initiated with a Neutral at Goldman; tgt $93
Occidental Petro upgraded to Buy from Hold at Deutsche Bank
Cisco Systems added to Conviction Buy List at Goldman
Wynn Resorts announces issuance and sale of 5.3 mln shares of common stock; Stephen Wynn’s sale of 8.0 mln shares of common stock
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