We are Stardust, We are Golden, We are Billion Year Old Carbon ....If you were born 50 Years Ago Today, your mother missed Woodstock.. well.. at least the first day. The Famous Woodstock Music Festival August 15-18, 1969 is officially 50 years Old. I hear Yasgur just got done cleaning up his Farm last week!!! (Woodstockers weren't exactly Burning Man-types) .. If I just made you feel "Old" because you remember Woodstock, "like it was yesterday" then I apologize. Just remember, Getting Old Sucks.. but it sure beats the Alternative ...
Editor Note: Sorry for the late Rant. Raj is replacing the windows, siding and roof on his house that is... well.. his house is OLDER than Woodstock. .. (1963, actually). His work area is ... uh.. well.. "Temporarily Disturbed".. We aren't talking "Dust Bowls like a John Steinbeck Novel" or anything.. but.. there is some SERIOUS sawdust going on.... For the next month or so.. the Rant will come out whenever Raj is done choking for the day.. Read On!!
The US is moving to seize an Iranian Oil tanker that has been detained in the Strait of Gibraltar. The tanker was seized by the UK a few months ago and the US is "Taking over". Not entirely sure why, but the UK has a mess going on with Brexit.. maybe Trump is trying to gain brownie points with UK PM Boris Johnson ahead of Trade Deals that will have to be cut when the UK leaves the E.U. .. Over in Hong Kong the protests continue but the airports are re-open. The protesters have moved back to downtown Hong Kong...they're not the ONLY ones "moving". The Chinese Military has moved troops to the border. Are we going to see another Tiananmen Square?? (which by the way is 30 years old this year). The world is watching. So, I don't expect "tanks running over people" but if you thought the Hong Kong police "breaking up the protests" was brutal you're going to see some total domination...
Back in the USA: The City of Philadelphia has HAD it with Chicago and Baltimore getting all the attention for shootings. They feel like the "FREDO" of the Crime Cities.. They're trying to fix that, apparently. During a drug raid in Philadelphia a suspect shot six police officers and two were trapped in the house on the second floor with the shooter firing through the ceiling trying to get the cops. The reports say the shooter has surrendered and is in custody. It is reported that the shooter had an AK47 Assualt rifle. (Before you Gun Control Freaks go crazy. The AK 47 is ALREADY against the law. But, drug dealers don't care much about the law.. or Bernie Sanders.. or Mike Bloomberg. IN fact, they do not even know who they are)... ..and... In NY, The coroner report shows that Pedo Epstein had some broken bones in his neck. Now, Before going all conspiracy theory and saying, "someone killed him by breaking his neck and hanging him" remember this, If you hang yourself you are likely to break some bones in your neck. (Seriously, look it up). Having said that, ....Someone KILLED that dude.. ... and...
Google-Leaks. More internal leaks from Google employees show that Google is on a mission to push their radical left agenda. The employee exposed a "Black List" against conservatives. .... You all know that I believe VERY little of what I read. If I read something that is controversial I do a lot of research and try to find out the "Real Story". I encourage you to do the same. So, lets DO IT!!!.. ...Ready??... Lets Check this out: Story being ignored by Mainstream, Loser Media and pushed by alternative sources: "Google is run by left wing radicals in the silicon valley that purposely alter search results to push their agenda. In many cases they outright lie or literally change history to push their ideas. They censor and remove Conservatives and they are hell bent on changing American Society to "Fit their Social Agenda". Google's response: Our Algorithms control Search. No one is sitting there removing Conservative content or Censoring searches. (My response to that is "some HUMAN or group of HUMANS write the Algorithm). But, lets not believe either side. Let's check ourselves. When you are done reading the Rant today take 3 minutes and "Google" these things.. then click "Images". After that, form your OWN Opinion. "American Inventors", "White Couple", "White Woman with Children", "European History People", "Happy White American Man", "Happy White American Woman" .... You might see a pattern.
SPORTS: UFC Fighter Conor McGregor is in trouble, AGAIN. This time for punching a guy while in a bar over an argument about Whiskey Shots. I don't know why anyone would be surprised or shocked. Look, the guy is a CAGE FIGHTER. You don't get to the top of CAGE FIGHTING by being a nice, well-rounded gentleman type of guy. You will NEVER take someone that came from the slums in Ireland and BEAT his way to the top and make him, "Cultured". So, give him his whiskey and STAY AWAY!!!... MLB: Before you Yankee fans start bragging about "sweeping the series and winning 6 in a row against the team"... it was BALTIMORE!! They are in LAST place for a REASON.. GOLF: The BMW starts today at Medinah in Illinois. Can Tiger top ten and move on to the Tour Championship? Ill bet yes.. but I wont bet more than $1 ....
CELEBRIDIOTS: O.J. Simpson is worried about you. Howard Stern commented that "OJ should NOT be on Social Media" (Which I'm sure was not an "Order". I'm sure he saw some OJ Tweets and joked, "Oh God, that guy should NOT be Twitter" .. Anyways, OJ "worries about America" when powerful people try to silence him..and others.. Ill say this, "Dont Worry OJ. Ill be alright. The windows will get fixed and Ill be back to normal in a month.. and the Raj Tub is open"... and ... from the Hall of Fame of SuperHotties, Halle Berry posted a "Wet T-Shirt Selfie" to celebrate her 53rd Birthday. HOLY TOLEDO she is hot for 53!! (..for new female readers saying,"Daaaaaannnggg. How does she look like THAT at 53???") ..There is a formula. Here it is: If you want to look like this HERE when you're 53 you need to start by looking like THIS HERE at 23. Then, Don't smoke, drink too much, or do heroin. The rest is EASY PEASY LEMON SQUEEZY!!!
Recession fears took hold yesterday as short-term Treasurys paid more than long-term notes, a warning sign that investors are rapidly shifting their money into bonds to shield against potential losses they could incur by holding equities. No trouble? A brief inversion could be just an anomaly (others have not preceded recessions), but it may depend on how long the condition lasts. Others say the inversion occurred because of the Federal Reserve, which has kept its base short-term rate "too high," while some maintain the yield curve has been distorted by more than $15T worth of foreign bonds that pay negative interest rates.
The inversion sent all three major U.S. indexes down about 3% on Wednesday, with the Dow plunging 800 points and suffering its largest decline of the year. The yield on the 30-year Treasury also went into uncharted territory: below 2%. Despite the market meltdown, U.S. stock index futures posted solid gains overnight, before turning around on events in Asia. China's finance ministry said it must take necessary measures to counter the latest U.S. tariffs on $300B of Chinese goods, while Hong Kong cut its GDP growth forecast to potentially flat for the rest of the year. Go deeper: Chris Ciovacco compares historical selloffs.
A slew of U.S. economic data this morning will be closely watched for signs of a slowdown and how much substance there is to recession fears. The releases at 8:30 a.m. include retail sales for July, the Philly Fed manufacturing survey, the Empire State manufacturing index and initial jobless claims. Numbers on industrial production will come 45 minutes later, as well as the National Association of Home Builders' Housing Market Index at 10 a.m.
The sector was walloped yesterday by weak guidance from Macy's (NYSE:M) as department stores continued to lose shoppers to newer forms of retailing. Shares tumbled 13% after the company lowered its full-year earnings outlook and missed profit expectations. Worries were also seen after Cisco's (NASDAQ:CSCO) Q2 results, which showed struggles in China amid a continuing trade war. Today brings more insight into the retail industry, with quarterly figures from Alibaba (NYSE:BABA), Walmart (NYSE:WMT) and J.C. Penney (NYSE:JCP). Go deeper: Key data on Walmart ahead of earnings.
Berkshire Hathaway (NYSE:BRK.A) boosted its stake in Amazon (NASDAQ:AMZN) by 11% during the second quarter, increasing its bet on the online retailer even as stocks traded near record highs. It ended June with 537,300 AMZN shares worth about $1.02B, up from 483,300 shares three months earlier. Meanwhile, Pershing Square Capital Management, run by Bill Ackman, has taken a Berkshire stake of 3.5M class B shares (NYSE:BRK.B), according to its 13F filing. Go deeper: Historical performance of Berkshire shares.
WeWork owner, The We Company, has published detailed financial statements for the first time, disclosing breakneck revenue growth and soaring losses, as it prepares for an IPO as early as next month. The company will list under ticker "WE," and could raise several billion with the offering. Other high-profile IPOs this year, like Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT), have fared poorly after their launch, amid skepticism over their lack of a concrete plan to profitability. Go deeper: John Engle comments on WeWork's 'crazy valuation.'
Prime Minister Justin Trudeau violated the country's Conflict of Interest Act, according to Canada's ethics watchdog. He attempted to influence former Justice Minister Jody Wilson-Raybould to overrule a decision not to grant a deferred prosecution agreement to SNC-Lavalin (OTCPK:SNCAF), a major employer in the politically important province of Quebec. The findings are a blow to Trudeau and his incumbent Liberal government before October's general election. Go deeper: Holdings of the iShares MSCI Canada ETF (NYSEARCA:EWC).
What else is happening...
Wednesday's Key Earnings
In Asia, Japan -1.2%. Hong Kong +0.8%. China +0.3%. India +1%. In Europe, at midday, London -1.1%. Paris -0.9%. Frankfurt -1%. Futures at 6:20, Dow -0.4%. S&P -0.3%. Nasdaq -0.5%. Crude -1.5% to $54.38. Gold +0.1% to $1528.70. Bitcoin -5.1% to $9931. Ten-year Treasury Yield -3 bps to 1.55%
Today's Economic Calendar
8:30 Initial Jobless Claims 8:30 Philly Fed Business Outlook 8:30 Retail Sales 8:30 Empire State Mfg Survey 8:30 Productivity and Costs 9:15 Industrial Production 10:00 NAHB Housing Market Index 10:00 Business Inventories 10:30 EIA Natural Gas Inventory 4:00 PM Treasury International Capital 4:30 PM Money Supply 4:30 PM Fed Balance Sheet
Roger “Raj” Searing firstname.lastname@example.org
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