That's ONE way to do it ... Planned Parenthood decided that the new Federal Rules regarding using Federal Money and counseling girls to get abortions was TOO much. So, they are pulling out of the Title X program and telling the Feds to STICK IT! The Funding amounts to about $60 million a year. They say they will make it up from "other sources" including state and local budgets..and donations...
Over in China... there were some interesting developments in the Hong Kong/China protest arena. The "Chief Executive" of Hong Kong, Carrie Lam, says the way to fix the problem is "through dialogue". Umm.. The protesters want you OUT. They definitely don't want to TALK to you.. (That's the boring, Ho-hum part of the story). Part two is that Taiwan is offering "Asylum" to Hong Kong residents and China is FUMING. (If you're not up on your World Politics, Taiwan is still "Officially" part of China. Taiwan wants Independance and, basically, acts independently.. so.. they ALREADY p*ss off China.. THIS will NOT help).. Then there is the "Twitter" issue. Twitter suspended 200,000 accounts because they were (allegedly) being used by Chinese Government agencies to spread false news about what was happening in Hong Kong. Twitter says, they will now ban all advertising from "State Owned News Agencies". Hmmmmm.. So, is "Twitter the Hero" for finding and shutting down these accounts? Or are they just "Getting out in front of" the story that "The Chinese Government had 200,000 Twitter accounts open under 'Fake' credentials and they had NO CLUE until someone questioned the 'newsflow' surrounding the Riots"?? ... Over in France, President Macron is hosting Vlad Putin for "talks to reduce tensions in the Ukraine and about the situations in Syria and Libya". Macron tried to "lecture" Putin on the "rights of people to protest". I don't speak Russian but Putin said something like, "Oh yeah, That's RICH coming from the guy that just BEAT DOWN the YELLOW VEST protests..
Back in the USA.. Attorney General Barr removed the Head of the Federal Prison system over the screw ups in NY (and other things). I truly believe this is all just "Optics". In a few weeks, the guards will go back to sleeping and the child rapists will go back to being killed by other inmates.. or hitmen... Also in NY, The Police Commissioner decided to fire Officer Pantaleo over the "Eric Garner Case" from 5 years ago. For those that do not remember, Garner was on video being arrested by 5 police officers because he resisted arrest. Video showed Garner saying, "I can't breathe" and because Pantaleo is a white man, it was labeled in the Loser Media as a "Racist Killing". The Grand Jury did not indict and a Federal Probe found him innocent. But, in NY, with deblasidiot in charge, the Police are the "Bad Guys". Facts in the Garner case that the Loser Media don't talk about because it does not fit their narrative: (All True, look them up) .. Garner weighed 350 pounds, had heart disease, asthma and diabetes. Garner had 30 prior arrests and at the time of the incident was out on parole. If Garner had not resisted arrest the event would not have happened. Although heart wrenching to watch the "I can't breathe" video it is NOT what killed him. Garner died an hour later in the hospital of a heart attack. Oh, and the guy that shot the video was indicted on weapons charges a month later. But, after no indictment, no Federal charges and five years of investigations, the NYPD Commissioner fired Pantaleo because he "Could have handled the situation better". As you can imagine, the head of the PBA want deblasidiot and Police Commissioner O'Neill gone. If this keeps up, New York is headed back to the 1970's-80's when you were not safe anywhere. The cops are NOT the bad guys. If you keep saying they are, you're gonna have the same problem as Baltimore. Eric Garner's death is sad. But, Eric Garner is responsible. Not, Officer Pantaleo.
In the Swamp: I need to correct something I wrote last week. Reps Ilan and Omar were NOT going to Israel as part of the Congressional delegation. Their trip was organized by a group called, "Mifta". Mifta is an "anti-Israel Palestinian Group" which is the "Nice Way" to say it.. Another way is that they are a terrorist sponsoring, anti-semitic group with ties to Palestinian Terrorists".. I wonder why you do not see that in the reports out there on Loser Media? Ilan and Omar are using their time in the "bully pulpit" to say things like "Shame on Israel" and "Netanyahu is a puppet". This is nothing but more LYING POLITICIANS. Look, Talib has a grandmother in the West Bank and hates Israel. That is TOTALLY her right. This is America. You CAN have differing opinions. But, stop standing there and lying about it. You hate Israel because you think they "occupy the West Bank" and deny what you think are the Palestinians Human rights. Just have a SPINE and say it..... and....
Adding to the list of "Traditions that may need to be 'Re-thunk'" .. At the Bagwal Festival in India 100 people were injured. By a shooter? No.. Bomb? No, Rains, Floods? NO... By stones... The annual Ritual stone throwing event. They hold up umbrella like things to defend themselves and two groups fire rocks at each other HERE Im thinking after the Genital Mutilation thing, this is the next Ritual we should try to get rid of..
SPORTS: NFL: 49er Fans welcomed back star QB Jimmy Garappolo. He was injured last year after signing a HUGE contract. Jimmy went 1-6 with an interception and a 0.00 passer rating. AHHAHAAH.. .Looks at the bright side 49er Fans: Nowhere to go but UP!!! .... The Little League World Series is happening and there is ONE girl playing. I wish the announcers would just praise her abilities and let her enjoy her time in the sun. NO she will NOT play MLB baseball. In a few years, her competition will be 18 year old men. The girl from Philadelphia a few years back was GREAT.. but she is a girl. They can pump her up.. they can make a movie about her.. but she AIN'T playing in the Bigs... if you want a "Holy Crap" story in MLB.. that kid that showed up at the pitching machine game during a rain delay in Colorado, Nathan Patterson (remember the story.. pitched when he was 15 years old.. but not since) and threw 96 MPH.. then was immediately signed to a Minor League Contract by the A's? .. Well, he came in to throw his FIRST PROFESSIONAL INNING.. Three up.. three down. STRUCK OUT THE SIDE.. Now, yes its low level Minor leagues.. but.. Wow...
CELEBRIDIOTS: Well, THAT didn't take long.. in less than a WEEK, Miley Skankrus 1) Dumped her Husband.. 2) Dropped a Song about it .. 3) Last night she was in a West Hollywood club making out with Kaitlynn Carter. Witnesses say it was kinda gross. They were all over each other on the dance floor, in the bathroom, and they were basically having sex in public.. HERE.. ..and.. if you were waiting for your shot with Katy Holmes you might just have that shot coming up!! .. looks like she is no longer dating Jamie Foxx. You'd better hurry, though. That Suri Cruise Child Support money runs out in 5 years... and.. I read an article about a model on vacation in St. Barth's. (I know, that's not really "news") .. but.. it described her as, "the most beautiful girl in the world". Did any of YOU vote in that contest? I didn't. So, I am calling BULLSHEET.. Anyway.. you decide yourself. Is she #1 in the WORLD? HERE. She wouldn't be in my "top 100" .. and are you kidding me they talk about her "beauty secrets"?? "I clean my face at night and wash off my L'Oreal make-up" . Are you SH*TTING ME!!!!???!!! You're FREAKIN 18 YEARS OLD. Your "Beauty Secret" is your DNA !!!!!.. GO AWAY!!!!!... (at least until you're 25. You look too young.. )
Marking the first time the companies have pointed to China as a source of disinformation campaigns, Twitter (NYSE:TWTR) and Facebook (NASDAQ:FB) said they dismantled a state-backed social media operation that sought to undermine protests in Hong Kong. Twitter suspended nearly 1,000 active accounts, and removed approximately 200,000 before they were live, while updating policies to prohibit advertising from state-controlled entities going forward. The latest events come as social media companies fall under pressure to stem illicit political influence campaigns online, especially ahead of the U.S. election in November 2020.
Wall Street rose sharply on Monday as a rebound in bond yields continued, easing ongoing recession fears. While the rally continued overnight, stock index futures have now given back gains and are hugging the flatline. Traders remain focused on U.S.-China trade relations after a temporary reprieve for Huawei, and on monetary policy, after President Trump said the central bank showed "horrendous lack of vision." He also called on the Fed to instigate a rate cut of 1%, as well as a package of QE measures to stimulate the economy and efforts to address dollar strength. Go deeper: Jeff Miller comments on the week's big events.
A coalition of state attorneys general is getting closer to a full-scale joint antitrust probe of Big Tech, WSJ reports, which would place more pressure on an industry facing multiple federal looks. Likely in the crosshairs are the big four: Facebook (FB), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Google (GOOG, GOOGL). FTC Chairman Joseph Simons also warned overnight that any plan by Facebook to integrate Instagram and WhatsApp more closely could hinder attempts to break up the social media giant.
The U.S. government's decision to add more Huawei affiliates to a blacklist is "unjust" and "politically motivated" and will not help the country advance its technological leadership, the Chinese telecom equipment supplier said in a statement. On Monday, the U.S. Commerce Secretary extended by another 90 days a temporary reprieve for Huawei to continue doing business with American companies, but the Bureau of Industry and Security added another 46 Huawei affiliates to the blacklist, bringing the total up to over 100. Go deeper: Founder Ren Zhengfei warns Huawei is at a 'live or die moment.'
Reports suggest that Apple (AAPL) has committed to spend more than $6B on original TV shows and movies for its forthcoming Apple TV+ service, which will likely launch in the fall and beat Disney+ (NYSE:DIS) to market. Sources say Apple is weighing a price of $9.99 a month with a likely free trial period (the Mouse House plans to charge $6.99/month for its offering). In separate news, a former Disney accountant said she filed a series of whistleblower tips with the SEC alleging the company has materially overstated revenue for years. Go deeper: Disney valuation metrics.
Tesla (NASDAQ:TSLA) is once again offering to rent solar panels to homeowners in a bid to revive its slumping home solar business. Rentals will be available in six states, starting as low as $50 per month (plus tax) with no upfront costs or long-term contract. Once among the largest installers of renewables through SolarCity, the company is now a distant third in U.S. solar power behind Sunrun (NASDAQ:RUN) and Vivint Solar (NYSE:VSLR), which deployed 103 and 56 megawatts of new installations last quarter, respectively. Tesla only installed 29 megawatts. Go deeper: Compare other solar names in the industry.
In a letter to European Council President Donald Tusk late Monday, U.K. Prime Minister Boris Johnson said the controversial Irish backstop plan was "unviable" and must be removed. He also hinted that such an effort could see a Brexit deal approved by a majority of parliament before an Oct. 31 deadline for the U.K. to leave the bloc. Brexiteers fear the backstop would prevent the U.K. striking trade deals with other nations after Brexit, while the EU maintains it's essential for the free movement of goods, services and people. Sterling -0.3% to 1.2090.
A €50B budget is necessary next year to bring about a "shock" fiscal stimulus, according to Matteo Salvini, the leader of Italy's ruling League party. He recently pulled the plug on a coalition government with the anti-establishment 5-Star Movement, starting a potential countdown to elections, which could complicate the nation's preparations for the 2020 budget. Investors must now wait to see if a fragmented parliament and Italian President Sergio Mattarella can find an exit strategy that will, at the very least, provide some certainty about the country's immediate future.
Pimco has pared its positions in government debt on fears that a breakthrough in U.S.-China trade talks could trigger a violent selloff, putting an end to one of the biggest fixed income rallies in history. Several big Pimco funds controlled by investment chief Dan Ivascyn, including the $128B Pimco Income Fund (PONAX, PIMIX), have therefore been lightening up on their positions. "We're a lot more defensive," he declared. "Even if we get a narrow trade agreement [between the U.S. and China] we could see a pretty powerful snapback in yields."
What else is happening...
Big bet that British pubs will survive Brexit.
Monday's Key Earnings
In Asia, Japan +0.6%. Hong Kong -0.2%. China -0.1%. India -0.2%. In Europe, at midday, London +0.3%. Paris flat. Frankfurt -0.1%. Futures at 6:20, Dow flat. S&P flat. Nasdaq +0.1%. Crude -0.3% to $56.01. Gold +0.2% to $1514.50. Bitcoin -0.2% to $10674. Ten-year Treasury Yield -3 bps to 1.56%
Today's Economic Calendar
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