There are days I read the news and laugh.. and there are days I think about NEVER reading the news AGAIN because there are SO MANY STUPID PEOPLE that say STUPID THINGS and other lemmings REPEAT THE STUPIDNESS (Yes, I know it's STUPIDITY not STUPIDNESS in today's vernacular..but... leave me alone when I'm angry).. Speaker Nancy Pelosi continued her line of crap about a video made about her calling it "Fake and Doctored". Facebook will not take it down.. So, Pelosi is now saying Facebook "unwittingly ...and probably wittingly helped the Russians promote fake news" to swing the election and then added they were "Willing enablers of the Russians" AHAHA.. Nancy, Facebook HATES Trump and HATES Republicans. They censor and remove Conservatives ALL THE TIME. You have NO problem with that but now that it's you Facebook is hurting, it's a problem? Is THAT particular video slowed down a bit to make you look bad. YUP.. You want to know what bias and censorship is about Nancy? You have REALLY slurred in public MANY times in the past two years. I've seen it, live. It's in documented, REAL video... I just tried to find an example and the first 25 PAGES on Google were stories from the Loser Media about your current "altered video"..and how it's UNFAIR ..and all of those stories pushed the REAL slurring OFF the face of the internet. You should THANK them .. The BIG news in the Swamp is the 8 minute press conference given by Robert Mueller. Mueller announced the official closing of the probe. He announced his retirement. He said, "if they could be sure the President did not obstruct they would have put that in the report". Then he said the most important thing: His indictments of the Russians DID show that Russia DID try to influence US elections. .. The Fourth Part SHOULD be the "NEWS". How did we let that happen? Why didn't the CIA, FBI and NSA catch it? How do we keep it from happening again?? But.. NOOOOO.. What's the Focus on? "MUELLER said he can't be sure the President didn't obstruct!!" .. Which of course is re-igniting the "IMPEACH HIM" army. For you way-left liberals, Have at it. Go ahead. Impeach him and send him to the Senate for trial. Waste your time. Or, Maybe, try to Legislate because in a year you can vote him out if you hate him so much. For those with more level heads, it is NOT the job of a prosecutor to exonerate.. Their job is to either bring charges or drop charges. Prosecutors do not walk away from cases and say the "accused is innocent" except in VERY rare circumstances. (Look it up.. or ask a lawyer..) .. So, the circus will continue .. and.. the country will suffer. Did you know that since Memorial Day weekend started that DHS has released 5,000 illegal immigrants into communities around the country? Yup .. about 1,000 a day. Live in San Diego? They flew 500 there.. Phoenix, AZ? You got 1500 this weekend. They put them on planes in Texas and fly them around the country to await asylum hearings that they won't go to... This is very much NOT Fake news..and what is Congress doing about it? Nothing. ZIPPO .. Over in Israel, Benjamin Netanyahu was unable to form a coalition by yesterday. Their Parliament was dissolved and there will be a historic second "Snap Election" for all of them. .. and... I don't like to "overdo" the "weather" stories.. but.. MORE tornadoes hit across the country and areas of Arkansas and Oklahoma are seeing devastating flooding and its STILL raining. Houses are submerged along the Arkansas river and it keeps rising. Locals are calling it a "slow motion disaster". Sad ... CNN hit a new HIGH in LOWS yesterday when bobblehead Chris Cuomo made fun of a rape victim. Kimberly Corban is a rape victim and mother of three. She said if anyone tries to come into her house and harm her or her children again they had better think twice because she has armed herself. Cuomo is a gun control enthusiast and thought it was OK to mock this woman. To Kimberly: I'm sorry for what happened to you. You have the right to feel safe in America. If arming yourself does that, go right ahead. The second Amendment allows that .. and For anyone that watches that dolt Cuomo: Really? That's the America you want to live in? With people like that? Mocking rape victims? .. I don't .. I live in the America that has parents like those of Kodi Lee. Parents that had a blind autistic son and recognized something about music that he responded to .. so they encouraged it .. and an America with Gabrielle Union in it.. .. If you don't know what I am talking about .. get a box of tissues and watch HERE (If you cannot watch the whole thing skip to 2:15. Its worth it) THAT!! is the America I live in.. . .. SPORTS: NHL: GGGOOOAALLL !!! A one-timer in Overtime from Carl Gunnarsson gives St Louis the win and ties the series 1-1. ... NBA: Game One of the Finals tonight.. and.. the RAPTORS are 1 Point Favorites.. uhh.. HUH? .. WHAT!!? Does some bookie know something I don't? Was the Golden State Plane infected with Swine Flu? .. Kawhi Leonard is certainly amazing.. but.. WOW .. and.. GOLF: The Memorial starts today. Can Tiger do it? He has won there 5 times and never missed a cut.. I wouldn't count him out.. or Jordan Spieth if he can hit a fairway.. and .. can ANYONE tell me how the heck the NY Yankees are in first place? Half their starters are on the DL!! .. CELEBRIDIOTS: RIP to Carmine Caridi, 85 who played Carmine Rosato in "The Godfather" movies.. .. Jeopardy James Holzhauer got a few wrong but still won easily. He is just over $200,000 from the record.. so for you watchers.. it looks like TUESDAY is when he might break the record.. Roman Polanski's wife Emmanuelle Seigner is crapping on Quentin Tarantino. Tarantino's new movie, "Once upon a time in Hollywood" includes the story of Polanski. Seigner slams Tarantino for "making money by making Roman look bad..and did not even consult him for the film". Umm.. hmm.. umm. WHAT?!?!??! Your husband is a RAPIST!!! A DISGUSTING PIG RAPIST!!!!!.. Not a "victim of #metoo" guy that touched an a model's boobs 20 years ago. He RAPED a 13 Year old GIRL!!! CONVICTED RAPIST.. Left America to avoid prison.. and you think mentioning him in a movie makes him look bad? No.. its not.. its BEING A RAPIST that makes him look bad.. and.. not for nothing.. the "rumor mill" says it wasn't just ONE underage girl.. but since I don't want to get sued... Ill say "alleged" and "rumor" .. Do the world a favor, Emmanuelle. Sew your mouth shut .. OK.. Im calmed down, now.. .. and.. Does anyone think Reese Witherspoon looks like her daughter, Ava . HERE .. I think you should BOTH report to the Raj tub for further inspection ..
Investors today will monitor a flurry of economic figures, including the latest weekly jobless claims and a second reading of GDP for Q1, expected to show 3.0% annualized growth compared to 3.2% in the first estimate. Futures are heading higher ahead of the data, following last night's slump that came amid a protracted trade dispute and intensifying yield curve. Contracts tied to the DJIA are now indicating a 75 point advance, while 10-year Treasury notes eased overnight, but at 2.27%, they are still within touching distance of their September 2017 lows.
"The Pentagon is working to reduce U.S. reliance on Chinese rare earth minerals after recent trade war threats," according to spokesman Lt. Col. Mike Andrews. The Defense Department is now seeking new federal funds to bolster domestic production, with China accounting for 80% of U.S. rare earth imports between 2004 and 2017. It's not so much about the deposits, but more about their processing. Efforts to build U.S. plants are still in the early stages and lack unified support from Congress and the White House.
Escalating the battle over the fate of the Iran nuclear accord, the Trump administration has warned European allies that its vehicle to sustain trade with Tehran, and anyone associated with it, could be barred from the U.S. financial system if it goes into effect. Germany, France and the U.K. created Instex in January to allow companies to trade with Iran without the use of U.S. dollars or American banks - thus allowing them to get around wide-ranging U.S. sanctions.
It's the first release of economic data from Venezuela's central bank in nearly four years. Inflation spiraled out of control to 130,060% in 2018 and hit 862.6% in 2017, while the economy shrank 22.5% during the third quarter of 2018 from the same period a year earlier. Oil export earnings last year also dropped 5.6% Y/Y to $29.8B. The government of President Maduro halted the publication of economic indicators in 2015 as the OPEC nation's socialist system began to unravel in response to the global decline in oil prices.
ExxonMobil (NYSE:XOM) shareholders rejected a proposal that would have split the roles of the CEO and chairman, and defeated measures that urged the board to create a special committee on climate change. Separately, Delek Group's (OTCPK:DLKGF) Ithaca Energy unit agreed to buy North Sea oil and gas fields from Chevron (NYSE:CVX) for about $2B. Arab leaders are also gathering today in Saudi Arabia for an emergency summit as Riyadh delivers a strong message to Iran that regional powers will defend their interests following this month's attacks on Gulf oil assets.
Uber Technologies (NYSE:UBER) will report its first quarterly earnings since its market debut a few weeks ago. Investors will be looking out for more details on the company's numbers, any indication on future profitability and its strategies after smaller rival Lyft (NASDAQ:LYFT) forecast that its losses would peak this year in its first corporate results as a public company. Ahead of the announcement, Uber inked a partnership with vehicle subscription service Fair to lower the cost of car ownership for its drivers.
Tesla (NASDAQ:TSLA) is down another 1% premarket to $188/share after Barclays cut its price target on the stock to $150 (from $192) following the latest comments from Elon Musk. "While our demand is strong, we have a lot of vehicle deliveries to catch up to in order to have a successful quarter," he wrote in a company-wide email reported by multiple media outlets. Barclays analyst Brian Johnson appears skeptical, saying, "Model 3 demand is stagnating in the U.S., the company still doesn't have a path to significant auto profitability and solar storage installations have declined sequentially over the past two quarters."
More in the film industry are wading into the fetal-heartbeat bill debate, with Bob Iger saying it would be "very difficult" for Disney (NYSE:DIS) to keep filming in Georgia if it enacts its new abortion law (Black Panther and Avengers: Endgame were filmed in the state). "I think many people who work for us will not want to work there, and we will have to heed their wishes in that regard," he told Reuters. Along with Netflix (NASDAQ:NFLX) "rethinking" its investments in Georgia, at least two projects - Amazon (NASDAQ:AMZN) series The Power and Lionsgate (NYSE:LGF.A) feature Barb and Star Go to Vista Del Mar - have said they will relocate their productions.
What else is happening...
Wednesday's Key Earnings
Keysight Technologies (NYSE:KEYS) +8.1% AH posting record revenues. Palo Alto Networks (NYSE:PANW) -5.6% AH announcing plans to buy Twistlock. PVH (NYSE:PVH) -10.5% AH warning on Q2 softness. Veeva Systems (NYSE:VEEV) +7.4% AH amid strong profit growth.
In Asia, Japan -0.3%. Hong Kong -0.4%. China -0.3%. India +0.7%. In Europe, at midday, London +0.5%. Paris +0.4%. Frankfurt +0.4%. Futures at 6:20, Dow +0.3%. S&P +0.4%. Nasdaq +0.4%. Crude +0.2% to $58.92. Gold flat at $1280.70. Bitcoin +0.6% to $8730. Ten-year Treasury Yield +3 bps to 2.27%
Today's Economic Calendar
8:30 GDP Q1 8:30 International trade in goods 8:30 Retail Inventories (Advance) 8:30 Wholesale Inventories (Advance) 8:30 Initial Jobless Claims 8:30 Corporate profits 10:00 Pending Home Sales 10:30 EIA Natural Gas Inventory 11:00 EIA Petroleum Inventories 12:00 PM Fed’s Clarida: “Sustaining Maximum Employment and Price Stability” 4:30 PM Money Supply 4:30 PM Fed Balance Sheet
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