NOOOOOOO .. Say it ain't so !!!!! A female Trump supporter has STABBED the Big Baby Trump Balloon Float!!!! NOOOOOOO!!! That thing is HILARIOUS.. I LOVE IT!!! .. (I wonder if Trump felt that.. you know.. like a Voodoo doll). The balloon deflated but organizers say the injuries were minor and will repaired shortly .. CNN Ratings dropped ANOTHER 16% last month. President Trump said if everyone stopped watching and stopped using AT&T then they might have to shut CNN. Look Donald, you shouldn't be telling people not to use AT&T (NO, I do NOT own any AT&T... Actually, I am currently long Verizon. *That is NOT a stock tip. Just being transparent*). The President of the United States should not be crapping on US Companies, even if they own a Fake News channel... and geez.. they lose viewers EVERY month. Stop wasting your breath, they are going away on their OWN... There are 11 French citizens that went to fight for ISIS and are currently under arrest and sentenced to death in Iraq. There are French groups and French lawyers arguing against the death penalty. What do you think? I mean they were THERE trying to kill Iraqis and Syrians.. or maybe DID kill Iraqis and Syrians. They are war criminals. Should Iraq be able to carry out death sentences? I would lean toward, "Yes" .. A little while ago I told you that there were 50,000 homeless in Los Angeles living in parks, on streets and tents. I apologize. There are actually 59,000. City officials were presented the numbers and said they were, "Stunned". WHAT?? STUNNED??? If you use your resources for illegal immigrants the needy CITIZENS suffer as a result. If that "Stuns" you then you are STUPID!!! ... Some media and social media are coming down on Joe Biden about his "Green Deal". Conservatives are calling it silly and expensive and some liberals are saying he "Stole most of the ideas from other plans"..Ummm.. He wants Zero Carbon emissions by 2050 and will pay the trillion dollar bill by raising taxes (well, he said, reversing Trump's tax cuts.. but thats the same as raising taxes) .. Isn't that like the "Standard Deal" ?? How can you say he "Copied"that? Zero Carbon emissions is the goal of ALL GREEN-TYPES...and raising taxes is how Democrats pay for EVERYTHING.. Now, Joe DID copy a bunch of stuff in his life (He was busted in college for plagiarizing Law Review articles. Not kidding. Look it up)..but this is just a case of Joe being a Democrat .. with the the first Democratic debate coming up the fur is beginning to fly. NY dope Kristin Gillibrand was embarrassed after she went on FOX News and crapped on the NRA. The NRA "retaliated" by posting a letter from Gillibrand from 10 years ago "praising the NRA for the work they do to protect Americans"..and Im SURE for DONATING MONEY TO CAMPAIGNS!!! OUCH!! She probably won't even make the debates. She is polling near ZERO % .. .. and former Shining Star Robert "Beto" O'Rourke drew National Attention when he nearly knocked off Senator Ted Cruz has fallen a LONG WAY. Once a media darling that filled stadiums, O'Rourke's last "Rally" drew 18 people... A new study out of Harvard has bad news for you "10,000 steps a Day" people. Turns out the health benefits of walking top out at 7500 steps a day. So, you can rest after 7500.. just don't rest at Dunkin Donuts eating crullers... and for you youngsters out there.. there is a NEW thing to watch out for.. "Super G" .. NO, its not a ski slope .. and NO its not a new superhero .. It's SUPER-Gonorrhoeaand it is resistant to normal antibiotics. Cases are skyrocketing in the UK .. so.. I guess... uhh.. 1) Use protection, 2) Stay out of the UK and 3) Stay away from Skanks .. SPORTS: NBA Game 3 tonight. C'Mon Golden State.. I called Warriors in 5. Don't let me down.. GOLF: The RBC Canadian Open is this week. Many top golfers will skip this to practice for the US Open which is next week. But, RBC Staff include Dustin Johnson, Matt Kuchar, Webb Simpson, Jim Furyk and Graeme McDowell. So, they HAVE to play.. and some big names like to PLAY Tournaments the week before a Major. So, you'll see Brooks Koepka, Rory McIlroy and Justin Thomas there too .. and .. I don't know much about the sport of Cricket other than its HUGE in lots of areas of the world, they call the pitcher a "Bowler" and the games can last days.. but.. India is playing Sri Lanka in the Cricket world cup.. and Sri Lanka just made THREE ERRORS on the SAME PLAY. That HAS to be bad, right? Any cricket experts out there? .. CELEBRIDIOTS: A bigRIP to Sam Black, 101. Black was the father of Comedian Lewis Black. Lewis would regularly talk about his parents in his act and say his mother isn't a good cook.. so they go out a lot.. and "I think the reason they lived so long is all the preservatives they ate" . Sad to see them go.. but.. 101 is a Good long time...and an RIP to Tracy Morgan's $2 Million dollar car. (well, its not GONE.. just smashed).. When I read he crashed his $2mm Bugatti my first reaction was, "OF COURSE he did"... But, after reading the article where the woman says, "It's his fault. He hit ME. I was already turning when he hit me so its HIS fault." Uhh.. well.. Lady .. when you are making a RIGHT turn from the LEFT Lane and you hit the FRONT of someone's car.. yeah.. that's not THEIR fault. HERE I got your back on this one Tracy!! Let me know if she tries to get Shizzy wit da Nizzy!! ME A Sizzle.. .. and.. Put a BELT on Emily your pants are falling down!!! HERE . .. (oh.. and cute dog) .. and if you didn't see it there was almost an International incident yesterday when Larry the Cat (Chief Mouser of Downing Street) crawled under President Trump's car while he was visiting Theresa May. HERE .. Now, Larry is obviously and OUTSTANDING cat.. but I have a question for PETA freaks.. Why is Larry "Awesome" but its ok that his "job" is to kill other animals. What, because he is cute his life is worth more than the mice and rats he swats around and eventually eats? .. Huh? Eh? .. and.. because I'm a "sharer" and I want my readers to be good capitalists .. a reader pointed out that I had been ignoring Yovonna Ventura. If any of you were thinking of opening a Pizza place.. I have your advertising all set up. HERE . .. I would DEFINITELY buy that Pizza.. No Offense to El Presidente, she is a better spokesmodel..
President Trump may finally get the rate cut he has been demanding as top Fed officials began warning this week that the global trade war may force them to respond. Chair Jerome Powell made a subtle move in that direction on Tuesday, dropping his standard reference to the Fed being "patient," and said it is prepared to "act as appropriate to sustain the expansion" amid intensifying trade tensions. Futures are now pointing to opening gains in the U.S., up about 0.6%, after the major indexes yesterday had their second-best day of 2019. The DJIA rose 512 points, while the S&P 500 jumped 2.1% and Nasdaq Composite surged 2.7%.
The U.S. and Mexico are scheduled to start official talks in Washington this afternoon after President Trump threatened to impose punitive tariffs on Mexican products on June 10. Where would the levies hit hardest? Mexico is the world's biggest exporter of beer (BUD, STZ), selling $3.6B worth to the U.S. last year, along with $2B in avocados (CVGW, FDP) and $2B in tomatoes. Corporations are also speaking out. Chipotle (NYSE:CMG) estimated a $15M hit, but said it could cover that by raising burrito prices by around 5 cents, while auto parts maker Aptiv (NYSE:APTV) said a 5% tariff would cost the company $17M per month.
Apple (NASDAQ:AAPL) shares are up nearly 2% premarket after CEO Tim Cook told CBS News that he didn't "anticipate" his company would be targeted by China should the ongoing trade war escalate further. "We've had a company in China for a long time. And so, there is a, I believe, a healthy level of respect for both sides," he added. Cook also dismissed the idea that Apple was "too big" and took issue with suggestions from presidential candidate Elizabeth Warren that it had a monopoly position that would warrant action from either lawmakers or the DOJ.
Samsung Electronics (OTC:SSNLF) is cutting production and laying off workers at its only remaining smartphone plant in China as it continues to shift production to lower-cost Asia locations. The world's biggest smartphone maker has only about 1% market share in the country, down from about 20% in 2013. The intervening years have seen a bout of anti-South Korean sentiment following a diplomatic spat, as well as a shift to local champions like Huawei at a time of deteriorating Sino-U.S. relations.
There are likely to be some fireworks at Walmart's (NYSE:WMT) annual shareholders meeting in Bentonville, Arkansas, as Bernie Sanders gatecrashes the "celebration" with calls to raise wages and and for hourly associates to have a seat on the retailer's board. Walmart currently pays an $11 minimum wage, but says its average hourly total compensation and benefits total more than $17.50 an hour. Shareholders will also vote on whether to strengthen Walmart's sexual harassment policies and approve executives' pay.
The Beverly Hills City Council has unanimously approved a ban on the retail sale of most tobacco products with a sweeping ordinance that is believed to be the first of its kind in the nation. The ban, which is set to begin in 2021, prohibits the sale of cigarettes, cigars, pipe tobacco, chewing tobacco and electronic cigarettes sold in gas stations, convenience stores, pharmacies and grocery stores. Only exemption: Tobacco sales will be permitted at high-end cigar lounges and hotels. Related tickers: MO, BTI, PM, JUUL
The next industry alliance has been formed to lower the costs of developing EVs as BMW (OTCPK:BMWYY) said it would develop its next-generation electric motors, transmission and power electronics with Jaguar Land Rover (NYSE:TTM). "We've proven we can build world beating electric cars but now we need to scale the technology to support," said Nick Rogers, Jaguar Land Rover's engineering director. Volkswagen (OTCPK:VWAGY) also announced a mega investment overnight, allocating €4B over the years to 2023 to digitalize its administration and production.
General Motors (NYSE:GM) is not getting a pass on tariffs snagging its Chinese-built Buick Envision. The Trump administration has refused to grant the automaker an exclusion for the SUV, keeping in place a 25% duty on the import. According to the Office of the U.S. Trade Representative, the vehicle is "strategically important or related" to Chinese industrial programs such as "Made in China 2025," which it views as a national security risk. Separately, China has fined Ford's (NYSE:F) Changan joint venture $24M for violating anti-monopoly law.
Recommending the launch of disciplinary procedures, the European Commission has escalated its debt level battle against Italy as the country has only made limited progress in hitting European budget targets and backtracked on structural reforms. The Commission, however, has not yet opened an "excessive deficit procedure" - EU states must first have their say in two weeks' time - though it's still a significant move in the long clash between Brussels and Italy's coalition government.
What else is happening...
Bonds were extended in an extremely rare manner, writes contributor Chris Ciovacco.
Bank of England calls 'last orders' on Libor benchmark.
Trump administration bans cruise ships from Cuba.
Tuesday's Key Earnings
Ambarella (NASDAQ:AMBA) +16.4% AH on strong guidance, buyback. GameStop (NYSE:GME) -29.7% AH amid double-digit sales decline. Salesforce (NYSE:CRM) +2.7% AH following a beat-and-raise. Tiffany & Co. (NYSE:TIF) +2.6% reaffirming FY revenue outlook.
In Asia, Japan +1.8%. Hong Kong +0.5%. China flat. India -0.5%. In Europe, at midday, London +0.5%. Paris +0.6%. Frankfurt +0.5%. Futures at 6:20, Dow +0.6%. S&P +0.6%. Nasdaq +0.8%. Crude -0.8% to $53.08. Gold +1% to $1341.30. Bitcoin -1.8% to $7806. Ten-year Treasury Yield +1 bps to 2.13%
Today's Economic Calendar
7:00 MBA Mortgage Applications 8:15 ADP Jobs Report 9:45 Fed’s Clarida: “Monetary Policy Strategy, Tools, and Communication Practices“ 9:45 Fed's Bostic Speech 9:45 PMI Services Index 10:00 ISM Non-Manufacturing Index 10:00 Fed’s Bowman Speech 10:30 EIA Petroleum Inventories 1:15 PM Fed's Rosengren: "Transmission of Monetary Policy to the Economy: Beyond the Headlines" 2:00 PM Fed's Beige Book
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