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READ THIS FIRST - 05/08/2019

WE GOT HIS TAXES!!!!  WE GOT HIS TAXES!!!!   The Trump Derangement Crew is jumping for joy because somehow the rag called the ny times publishedPresident Trumps tax returns from 1985-1994..and.. (As you read here SEVERAL TIMES) he showed large losses.  OK .. Now, What? Does anyone feel any different?  The Trump lovers don't care.  The Trump Haters still hate him .. and most Americans don't know how to read a tax return. But, most Americans are still overpaying for medicine and driving in potholes every day. Maybe Congress can focus on THAT now? .. Oh, by the way, you know who else showed losses last year?  AMAZON ..  There has been another school shooting in Colorado.  Two boys/men are suspected one of whom is in custody after shooting several people at a STEM school not far from Columbine. One student is dead and eight are injured. No motive or explanation has been released, yet.   The City of Baltimore has been hit by a Ransomware virus.  Obviously, it was sent by stupid people.  Baltimore is BROKE!!!! You don't rob poor people, you DOPES!!!  You should Ransomware Beverly Hills!!  Baltimore has shut down their servers and only Police, Fire, EMS and 911 are functioning.. .. Georgia Governor, Brian Kemp,has signed the controversial, "Heartbeat Bill" into law.  This is the law saying you cannot abort a baby if you can hear a heartbeat.  This will be challenged in court, I am sure (If suit hasn't ALREADY been filed) and likely make it to the Supreme Court .. Overseas, Iran announced they will stop complying with parts of the "Iran Nuclear Deal" and people are acting like this is "News". Do any of you think they were complying BEFORE? Iran will "stop selling excess Uranium" and will "enrich more in 60 Days" .. Several countries are blaming US Sanctions and calling them "regrettable".  China claims they will ignore the US Sanctions and help Iran.  Israel says that Iran cannot attain Nuclear weapons. .. The "US-China Trade deal" that was "close to being done" according to many in Washington looks like its not close to being done.  Markets sold off yesterday on the news and look lower again this morning.  Reuters is reporting that China sent a cable to the US over last weekend that "edited and backtracked on nearly ALL aspects of what had been agreed on".  This is not good for ANYONE ..  Down in the SWAMP, House Judiciary moron Nadler is readying a vote to hold Attorney General Barr "in contempt of Congress because he won't release an un-redacted version of the Mueller report and hand over the evidence files" which is a giant waste of time.   1) Barr CAN'T give information about Grand Jury testimony because it's against the law. 2) This is nothing but a political circus because the White House can claim "Executive Privilege" and it's OVER. (This is what Obama did in the AG Eric Holder "Fast and Furious" contempt case. and 3) Barr was not under any legal obligation to release ANY of the report. He did voluntarily.  Now, I DO like the "Third" option in a Contempt of Congress proceeding.  The first two are normal legal games and court cases.. but the Third has not been used in almost 100 years: The House Sergeant at Arms ARRESTS the man and holds him in the House JAIL while the proceedings take place.  AHAHAHAH.. THAT would be REALLY Fun to watch... A Judge has ruled in Favor of the White House and approved making many Asylum Seekers wait in Mexico while their cases are being processed.  Seems reasonable. It has some groups OUTRAGED!!! .. and ..  Apparently, out in Arizona, PORN is a "Public Health Crisis".  The State Senate just passed a bill declaring it so..  Look guys, if you think Porn is a health crisis I think you're doing it wrong!  Call me.. Ill walk you through the RIGHT way ..  SPORTS:  GAME 7 .. is there ANYTHING better in sports?  Yup!!!  Game Seven that goes to Overtime!!!! ..  and.. How about a Game 7 that goes to DOUBLE OVERTIME?!??! .. The St Louis Blues win 2-1 over Dallas on a goal by Patrick Maroon 5:50 into Double Overtime. WOW.. WOOOWWW.. Blues Advance.  Dallas goes to the golf course to watch the Practice rounds for the PGA Tour Byron Nelson..which is in DALLAS and starts tomorrow. Former Dallas QB Tony Romo is in the field on a Sponsors Exemption. The San Jose Sharks and Colorado Avalanche play game 7 of THEIR series tonight.. MLB: Mike Fiers throws his SECOND career No-Hitter as the A's beat the Reds 2-0. It was the 300th No-Hitter in MLB history and Fiers had better buy his fielders a ROLEX.  Two AMAZING catches were needed to complete the No-Hitter.. one of which robbed a Home Run from over the wall in left center..  CELEBRIDIOTS:  Former Model and TV actress, Pamela Anderson, visited Wikileaks guy Julian Assange in jail and said, "He is the MOST Innocent Man Alive" ..uhh.. umm.. yeah.. Pam? After the guys you've been with Bernie Madoff looks "innocent" ..and Julian.. careful with those conjugal visits with Pam.  She SAYS she was cured of that Hep-C but I never saw a blood test!!! ..  Britney Spears has filed for a restraining order against her ex-manager Lutfi because he is "harassing her and posting disparaging comments about her".  Geez.  Leave the girls alone.  She has issues.. .and if you were wondering why you were not accepted to the "Beautiful People" dating website (750,000 people on it.. 8.5 Million have been rejected for being "too ugly") the LIST is out.. HERE .. I pass almost ALL of that!!! I mean.. I may get marks off for the "nose" thing.. but I ACE the "Not Obese" parts.. and the "No Wonky Teeth" thing.. I am a "NINE" on their list. NO ONE has ever called me a "Nine" before, even after drinking a gallon of wine and eating magic mushrooms!!! ..  .. and for you gambling degenerates out there (which.. I am RIGHT THERE WITH YOU) .. The Odds are out ..  The "Baby Names for Markle's and Prince Harry's new son": Alexander 3:1, Spencer 5:1, Arthur and James are both 6:1 and Oliver is 16:1.  What?? no RAJ?? HOW DARE THEY?!?!??!!? I am CANCELLING their Rant Subscription!!!

Wall Street is looking to stabilize following last night's 473 point fall for the DJIA, as Chinese trade negotiators travel to Washington for high-level talks on Thursday and Friday. That leaves at least one more day for markets to contemplate how the talks will turn out and whether the cracks showing in the stock rally are real. It's also possible the rout sparked by President Trump's tariff threats won't be bad enough to force a rethink, giving him a green light to impose the new levies. Contracts tied to the Dow have wavered between slight gains and losses overnight, with similar movement seen by S&P 500 and Nasdaq futures.

A year after the U.S. pulled out of the Iran nuclear accord, Tehran declared it's no longer committed to parts of the deal. President Hassan Rouhani said the remaining signatories - the U.K., France, Germany, China and Russia - had 60 days to implement their promises to protect Iran's oil and banking sectors, giving them a choice of following President Trump or engaging with the Islamic Republic in violation of American sanctions. Iran will also begin to build up its stockpiles of low enriched uranium and heavy water, and threatened to resume construction of the Arak nuclear reactor.

Sterling slipped 0.2% overnight to $1.3048 with Theresa May's future hanging in the balance as Brexit-supporting members of the 1922 Committee believe they are close to securing enough support for another attempt to oust her. May is currently protected by guidelines that say she cannot face another challenge from Tory MPs within 12 months of the previous no-confidence vote, which she won in December, but more members of the committee are considering backing a rule change if she doesn't commit to setting out a timetable for her departure.

Google (GOOGGOOGL) launched the $399, 5.6-inch Pixel 3a, nearly half the price of the last Pixel device, as well as the 6-inch Pixel 3a XL priced at $479. The tech giant also unveiled augmented reality technology that enables users to view renderings of some specialized visual search results and privacy, while it offered a preview of voice technology that lets users make rental car bookings. Smarthome efforts? The new Nest Hub Max, which is part Assistant smart speaker and part Nest camera, will come this summer.

Lyft (NASDAQ:LYFT) will soon begin offering rides from self-driving cars operated by Waymo (GOOGGOOGL) in suburban Phoenix, in what would be one of the bigger commercial deployments of robo taxis so far. The tie-up is the latest example of how tech companies and automakers developing the technology are increasingly turning to each other to help defray costs or expand their offerings. General Motors' (NYSE:GM) self-driving division, GM Cruise, on Tuesday announced it raised an additional $1.2B, including from investors Honda (NYSE:HMC), SoftBank (OTCPK:SFTBY) and T. Rowe Price (NASDAQ:TROW).

Huawei CFO Meng Wanzhou is scheduled today to appear at a court in Vancouver as she continues to fight against extradition to the U.S. Meng is accused of violating U.S. sanctions on Iran and the case is thought to have led to trade tensions between Ottawa and Beijing, including a canola oil ban. President Trump has further hinted in the past that he could intervene in Meng's case if it helped seal a trade deal with China.

Beyond Meat shares are up another 3% premarket, after climbing nearly 6%yesterday, as shares have now skyrocketed 225% since the plant-based meat maker's IPO on May 2. The spike followed a Buy rating initiated by Bernstein - which noted some competition from the Impossible Burger and forthcoming products planned by Nestle (OTCPK:NSRGY) and Tyson (NYSE:TSN) - but the fact that the company has already mastered mass manufacturing gives the Southern California firm an edge. On a related note, options trading on Beyond Meat begins today.

What else is happening...

'Warren Buffett Says Book Value Lost Its Relevance. I Object,' says contributor Marc Gerstein.

Bitcoin (BTC-USD) slips after hackers steal $41M worth of the crypto.

Uber (UBER) drivers call for a strike ahead of $90B IPO.

London chosen as base for WhatsApp (NASDAQ:FB) payment push.

With regulatory approval elusive, Tencent (OTCPK:TCEHYpulls PUBG in China.

Reports suggest Alibaba (NYSE:BABA) will let retailers outside China sell products.

Siemens (OTCPK:SIEGYspins off struggling Power unit, will GE (NYSE:GE) do the same?

Disney (NYSE:DISalternates Avatar, Star Wars films each holiday season from 2021-2027.

Tuesday's Key Earnings

AB InBev (NYSE:BUD) -2.8% following an earnings shortfall. Allergan (NYSE:AGN) -4.3% on Q1 beat, upping forecast. Emerson Electric (NYSE:EMR) -3.7% lowering guidance range. LendingClub (NYSE:LC) +1% as loan originations improved 18%. Lyft (LYFT) -2.9% AH amid widening losses. Mallinckrodt (NYSE:MNK) -1.7% despite beat, raised outlook. Mylan (NASDAQ:MYL) -23.8% with no strategic review yet. Papa John's (NASDAQ:PZZA) +2.8% AH following an earnings topper. Regeneron Pharma (NASDAQ:REGN) -6.3% missing expectations. Sprint (NYSE:S) -2.1% AH posting a subscriber decline.

Today's Markets 

In Asia, Japan -1.5%. Hong Kong -1.2%. China -1.1%. India -1.4%.  In Europe, at midday, London -0.3%. Paris -0.2%. Frankfurt -0.1%.  Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.2%. Crude -0.3% to $61.22. Gold +0.3% to $1289.10. Bitcoin -1.6% to $5813.  Ten-year Treasury Yield flat at 2.44%

Today's Economic Calendar


Roger “Raj”  Searing

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