Read this First 6/08/2020
FOUND IT !!! .. Over a decade ago, 79 year old writer Forrest Fenn was dying of cancer. He decided to make a legacy for himself. He wanted to encourage people to "Get off the couch.. Get outside..Experience the outdoors, feed their sense of adventure". So, he buried a box with gold coins, rubies and artifacts worth over $1 million somewhere in the Rocky Mountains. (He was a collector). Then, he wrote a poem that gave clues. Hundreds of thousands have searched areas of the Rocky Mountains looking for the treasure. Forrest's cancer was treated and he is still alive today at 89. He announced that someone has finally found the treasure. He says he received a photo of the box and its contents and the winner had used the clues in the poem. The "winner" did not identify himself. Hmmm.. didn't want to pay the taxes?
Most of the press this weekend is about the protests, riots and this silly notion of closing down the police force. Minneapolis has a serious problem. Their city council has a "Veto Proof" majority in favor of "defunding the police force". Their liberal Mayor got booed off the stage for saying he cannot get behind that idea. WOW. This might actually happen. A large city with no police force. You think you have crime, violence and death, NOW?? This is a REALLY Bad idea... and..
Because he just CANNOT get his foot out of his mouth, NYC Mayor deblasidiot says he will cut the NYPD budget. Wow.. So, 300 officers have been injured protecting the citizens of NY over the past two weeks during the riots and looting. Now, you want to join the "woke brigade" and announce cutbacks at the NYPD? The city will burn. There are anonymous sources that say 600 NYPD officers are contemplating resignation. Is there any other option for NYC residents other than, GET OUT!!! ..
COVID-19 Update: Cases continue to dwindle. With a "gestation duration" of up to 14 days it will be interesting to see if there are spikes due to the Protests that would hit this week..
NJ Mayor Murphy? Why is it ok for you to walk shoulder-to-shoulder (not six feet apart) with people at a protest rally but bars and restaurants are still closed? All of these small businesses are suffering but apparently its safe enough for YOU to stand 1 foot from people?? Care to explain? You are violating your own orders. ...and..
New Zealand says they are COVID FREE. Prime Minister Jacinda Ardern said there were ZERO active cases in the country and she will re-open everything without restriction. ..Hmmm... Wouldn't it be better to say, "almost none". She's kinda setting herself up for a fall, eh? ... and..
Y'all know I have been making fun of the people that are making comments like they "know for sure" about this hydroxychloroquine DEFINITELY WORKS .. or DEFINITELY DOESN'T WORK. I've said that it appears to help people who have just become infected but is not too effective (or even dangerous) to people that are seriously ill. But, if the trials the CDC are doing now turn up something else, so be it. (The CDC trials are actual double blind, reliable, and time consuming studies.) What am I on about?
Turns out the "Study" that the major networks and websites used to tease the evil orange man were...uh.. well.. not exactly reliable. The company is out of Chicago and called, "Surgisphere". Their "study" said that it caused deaths in hospitalized patients.. Some actual doctors and scientists that are researching started asking questions about the 100,000 cases they surveyed.. and .. well... I'm not gonna say it looks like a 100% Hoax .. but.. the "Study" and other studies from Surgisphere were quietly removed a few days ago from The New England Journal of Medicine and the influential Lancet journal. (Peer reviewed). Here is the BEST part of the story (and the reason it's in the Rant)... It appears two of the people that run Surgisphere are a, "Science Fiction author" and a "Male Porn Model" HAHAHAHHAHAH... That is AWESOME !!!! ..and by the way.. any shot NBC, CBS, ABC, or CNN mention any of this? Anyone? Bueller? Bueller? Anyone? Anyone?? ..and...
Hurricane Cristobal is now Tropical Depression Cristobal after hammering the Gulf Coast. Louisiana declared a state of emergency as the flood waters rose. They had plenty of evacuations as towns were destroyed by flooding. .. They can't catch a break there in Louisiana.. and..
Here is one for the "Uhh.. are you serious?" column .. The "New Loonie Tunes" makers have announced that Elmer J. Fudd will no longer carry his famous shotgun because it "glorifies gun violence". Uh.. ok.. but.. he will still chase Bugs Bunny with a scathe or an ax .. and there will still be TNT explosions and all that .. .. This makes sense, How?
SPORTS: Another weekend of almost no sports .. But that's about to end.
GOLF: The Colonial (Charles Schwab Challenge at Colonial) starts Thursday !! .. I was wondering whether the top names would play.. or be afraid and watch a few weeks to see how things go .. Well... All top 5 in the world are entered and 17 of the top 20 Fedex Cup golfers are there. This is the strongest "Non-Major or Non-WGC" field I have ever seen. They are READY !!! If you were the NBC or CBS .. Would you "pump in crowd noise" like a laugh track for sitcoms?
NFL: I have seen several reports of people saying an NFL team should sign Colin Kapernick given the current protests. I guess that might be a "good look". But, can we look at some FACTS? Kapernick had surgery on his thumb, knee and shoulder (non-throwing). When he came back, he went 1-10 with a QB Rating of 49. (To compare, the Browns "Star" QB Baker Mayfield was a huge disappointment last year with a QB rating of 59 in a 6-10 season). The leagues top QB's have ratings well over 100. Might there be a racial or "trouble maker" element to his not getting signed? Yes. Is he the same QB he was in 2013-2014 before the surgeries? No. No he is not..
CELEBRIDIOTS: Several Studios are releasing films that deal with racism for free streaming. The film "Just Mercy" starring Michael B. Jordan and Jamie Foxx .. and Selma about MLK are a few of them .. Have at it ... and.
Yes, this is accurate.. Actress Cate Blanchett cut her head .. in a CHAINSAW accident. She won't give exact details but says it was silly and its only a "minor nick" .. Umm.. OK .. Juggling them? Tripped over one? It must not have been "On" or you wouldn't have a minor ANYTHING..
OOPS ... Mexican Senator Martha Lucía Mícher Camarena made a little "OK Boomer" mistake. When the Mexican Senate Conference ended she did not realize her camera stays on in the Zoom meeting until she logs out or the person running the meeting ends it. They didn't .. and she stood up and took off her shirt to change and was topless on the screens of many other Senators. When they told her (And showed her the screen shots people took) she said she didn't care. Maybe. Maybe Not... and NO I am not giving you savages a link to her. She is 66 years old !!!
If you are ready to get, "Fast and Furious" actress Jordana Brewster has split with her husband of 13 years. The actress started in Soap Operas before becoming one of the hotties in the Fast and Furious movies .. Won't to try and slow her down? .. HERE ... I LOVE it when she yells at me in Spanish and I can't understand her ... VERY hot..
Two drugmakers at the forefront of the industry's efforts to fight the novel coronavirus are exploring a combined future. AstraZeneca (NYSE:AZN), co-developer of one of the fastest-moving experimental coronavirus vaccines, has made a preliminary approach to Gilead Sciences (NASDAQ:GILD), the only company to have received FDA emergency authorization for its COVID-19 treatment remdesivir. Formal talks are not yet underway, but if combined, the two companies would have a market capitalization of $232B, based on Friday's closing share prices. AZN -2.2%; GILD +3.2% premarket.
Futures suggest equities are looking to extend a record rally at the open following the U.S. jobs report on Friday which smashed expectations and underpinned risk assets. "The reopening of the economy has seen financials, industrials, energy and real-estate stocks rallying and investors will continue to rotate funds into sectors such as these for a few more months," said Eli Lee, head of investment strategy at Bank of Singapore. A weekend agreement by OPEC+ to an extension of output cuts saw oil climb to over $40 overnight, while investors get ready for Tuesday's kickoff of the Fed's June policy meeting.
The finalized pact calls for collective cuts of 9.6M daily barrels until the end of next month, with Nigeria and Iraq making up for their backlog of reductions with deeper cuts over the next three months. Mexico won't pursue curbs beyond June, as it aims to implement longstanding plans to revive its oil industry. The cuts will be reviewed on a monthly basis, with the next meeting set for June 18. OPEC+ compliance with the May deal was 89%, meaning the group fell some 1.1M barrels short of the target set in the April agreement, according to commodities data firm Kpler.
'Worst month ever' for Germany's economy
German industrial output posted its steepest decline on record in April, plunging 17.9% during the month that saw unprecedented closures of factories and shops due to COVID-19. ING economist Carsten Brzeski called it "the worst month ever" for the eurozone powerhouse, but the Bundesbank feels the peak of the economic crisis is likely over. It sees a contraction of 6.3% this year, based on the assumption that a €130B fiscal stimulus package will help economic activity pick up again in the second half of 2020.
'All the news that's fit to print'
The New York Times' (NYSE:NYT) editorial page editor, James Bennet, has resigned following significant criticism over the paper’s decision to publish an op-ed by Republican Senator Tom Cotton under the headline "Send in the Troops." Until recently, Bennet was viewed internally as a candidate to succeed NYT Executive Editor Dean Baquet when he retired. Stan Wischnowski, the top news editor of the Philadelphia Inquirer, also resigned over the weekend following the publication of a headline entitled "Buildings Matter, Too" that drew condemnation from readers and the newspaper's staff.
Reviewing content policies at Facebook
Facing criticism for not moderating or removing controversial posts from President Trump, Facebook (NASDAQ:FB) CEO Mark Zuckerberg said the company will review policies on posts that promote or threaten state use of force or voter suppression techniques. "While we will continue to stand for giving everyone a voice and erring on the side of free expression in these difficult decisions - even when it's speech we strongly and viscerally disagree with - I'm committed to making sure we also fight for voter engagement and racial justice."
Uber takes steps to support the Black community
"As a starting point, we will use Uber Eats to promote Black-owned restaurants while making it easier for you to support them, with no delivery fees for the remainder of the year," Uber (NYSE:UBER) CEO Dara Khosrowshahi wrote in a letter. "In the coming weeks, we will offer discounted rides to Black-owned small businesses, who have been hit hard by COVID-19, to help in their recovery. We know this isn't enough. It won't be enough until we see true racial justice. But we plan to work day in and day out to improve, learn, and grow as a company."
Airlines rip U.K. quarantine plan
British Airways (OTCPK:ICAGY), EasyJet (OTCQX:ESYJY) and Ryanair (NASDAQ:RYAAY) have written to the British government in protest at its "wholly unjustified and disproportionate" quarantine rules and are threatening legal action over the policy. Starting June 8, nearly all international arrivals in the U.K. will be required to self-isolate for 14 days and to supply details of their accommodation. The three carriers say the moves will devastate tourism and wreck any chance of salvaging the summer season when tens of millions of people generally travel, while also destroying thousands of jobs.
HSBC warns on Chinese reprisals
After backing China's controversial national security law last week, HSBC is now warning Downing Street against a ban on Huawei in 5G telecoms networks, saying it could face reprisals in China over such a motion. Chairman Mark Tucker made the claim in private conversations with British Prime Minster Boris Johnson's advisers, according to The Telegraph. The U.K. classified Huawei as a "high-risk vendor" in January, limiting its 5G involvement to 35% and excluding it from the core of the network, but could phase Huawei out completely by 2023.
Samsung leader faces jail again
A court ruling expected today or early Tuesday will decide whether the de facto leader of Samsung Group, Jay Y. Lee, will head back to jail after more than two years of freedom. He's accused of stock price manipulation and audit rule violations, among other offenses. The risk of more jail time for Lee has cast a cloud over the sprawling conglomerate and its crown jewel, Samsung Electronics (OTC:SSNLF), whose annual revenue alone is equivalent to 12% of South Korea's GDP.
What else is happening...
American Airlines (NASDAQ:AAL) draws severance packages for high-level employees.
What's going on with Amazon's (NASDAQ:AMZN) Prime Air drone program?
China's trade surplus climbs to new record.
Nasdaq (NASDAQ:NDAQ) tops NYSE (NYSE:ICE) in coronavirus-era IPOs.
Barron's is positive on Twitter (NYSE:TWTR) as global influence grows.
Ann Taylor parent Ascena (NASDAQ:ASNA) weighs bankruptcy filing.
In Asia, Japan +1.4%. Hong Kong flat. China +0.2%. India +0.4%. In Europe, at midday, London +0.2%. Paris -0.4%. Frankfurt -0.5%. Futures at 6:20, Dow +0.6%. S&P +0.4%. Nasdaq +0.2%. Crude +1.6% to $40.02. Gold +0.9% to $1607.90. Bitcoin +1.2% to $9750. Ten-year Treasury Yield flat at 0.91%
Today's Economic Calendar
12:30 PM TD Ameritrade IMX 1:00 PM Results of $44B, 3-Year Note Auction
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