The end of Bibi? The Israeli votes are almost all counted and it appears the Blue and White party has 32 of the 120 Seats in Parliament and Netanyahu's Likud party has 31. Bibi has called for a "Unity Government" but the leader of the Blue and White party (Benny Gantz a former head of IDF) says he will consider a coalition but only of Netanyahu is not the leader of Likud. The one thing that is for SURE out of all this.. We have to Up our "Party Game". Why do we have just Democrat and Republican? (Yes, I know we have "Libertarian".. I am one for God's sake.. but.. my candidate couldn't find Allepo on a map and was doooooommedd..).. Can't we have a "Red White and Blue" Party?? or go back to having like a "Federalist Party"? That sounds kinda "old school", right? .. Let's change it up and have some fum with it !!! ...
Canadian PM Justin Trudeau was having a difficult campaign trail due to controversies in his cabinet. Yesterday, a picture surfaced from 2001 of Trudeau at an "Arabian Nights" themed party. He was dressed as Aladdin and wearing black make-up. (For the record, GREAT WORK to his make-up guy. He DID look like Aladdin from the movie). You can GUESS how much fun the media is having with this. Every reporter is lining up to get the same "Canned Apology". "I'm sorry. I should not have done it. I am sorry to anyone I offended.." What a bunch of CRAP. How about, "It was a COSTUME PARTY. GET OVER IT!!!" ?!?!? .. and....
Back in the USA, where we still don't have a "Red White and Blue" Party... The Federal Reserve Bank cut rates and still got crap from the President for not cutting them MORE or FASTER. The Fed commented they will "continue to monitor economic conditions and act appropriately"..which is what they are SUPPOSED to do.. so LAY OFF !!... over in California, the Governor is whining and calling on Republicans to help him (HAHAHAHHA.. What a loser.. the guy craps all over Republicans and The Constitution and then asks for HELP??) . Anyways, President Trump rescinded an "Exemption" that allowed California to have stricter car emissions standards than the rest of the USA. Trump says regulations were too onerous on citizens and car makers and costs jobs. Gov. Newsome calls it an "infringement on State's Rights" and wants to know where Republicans are to "defend State's Rights under the US Constitution". Well, dude. If you read any history, The Framers of the Constitution would tell you AND the Federal Government to kiss their butts about ANY emission regulation...and 99% of all OTHER Regulations... of course.. Newsome said he will.. (GUESS WHAT??) SUE SUE SUE!!! .... FAA Head Steve Dickson is headed to Seattle to fly the 737 Max simulator. Dickson told reporters, "I will not be comfortable approving the 737Max to fly again until I fly it MYSELF". It's not clear WHEN he would actually fly REAL one.. But, that's an interesting bargaining and political stance. Should any "Critics" say the FAA is "too close with Boeing and bringing this plane back too quickly" the guy can say, "I flew it. It's safe" and its hard to argue with that... and...
The murders in Chicago have gone full, "Mafia Movie". The leaders of a gang "Got back" at the leader of a rival gang by killing his 9 year old son. Anyone out there want to say the old, "Its just gang bangers and drug dealers killing each other. Who cares?" line ?? .. and..
I have a trip to New Zealand on my bucket list.. mostly because of the awesome fishing.. but.. NOW I wanna meet THIS guy.. Joshua Jack had a meeting scheduled with the boss and there were layoffs coming.. and.. he kinda figured he was being fired.. So, he brought an "Emotional Support Clown" to the meeting. AHHAHAHA.. The clown blew up balloons during the meeting and when the boss handed the "termination paperwork" over to Joshua the clown pretended to cry.. AHHAHAHAHA...
SPORTS: The Astros have Verlander and Greinke and that makes them scary in a playoff series. If you are another baseball team that might play them in the post season, what are you gonna do with Gerrit Cole, too? Cole.. who is the THIRD STAR of their staff got his 300th strikeout of the season last night. There have only been 18 pitchers since 1900 to do that.. .. NHL: Hockey is BACK!! Pre-season games are underway and there are A LOT of teams looking good and a LOT of rookies making waves.. We'll see how long that lasts in the regular season. GOLF: The Sanderson Farms starts today in Jackson, MS but most of the better players in the World are over at the BMW PGA European Championship in England where Matt Wallace and Henrik Stenson are in front early. (Hear that Dennis??? BOOM !!!) ..
CELEBRIDIOTS: Former SNL stars Rob Schneider, Norm MacDonald and David Spade.. along with superstar comedian Bill Burr defended Shane Gillis and said he shouldn't be fired. Burr said, "geez.. we're not running for office. It's comedy. When is this gonna end" . AMEN brother. . and hey .. SNL.. Still no answer to my emails. If you're gonna cancel Gillis for "former doing offensive material" are you gonna be hypocrite or are you gonna cancel Host Eddie Murphy, too?? Who did FAR WORSE for FAR LONGER. (My advice is NO.. and to re-hire Gilllis.. but you won't listen..) .. and.. it was a bad day yesterday for Porn Actresses. Porn Actress Jessica James, 43 was found dead in her apartment. They are saying, "Natural Causes"..uhh.. if you consider Heroin "natural" because it comes from a poppy plant, then FINE.. and.. Porn Actress Bridget the Midget was arrested for stabbing her boyfriend in the leg. I took some time to pick the "best" of the "Bad Jokes" about this story..and.. since this is a "Family Rant" .. I'll go with, "If she had jumped, she might have got him in the Butt" ... and.. It looks like Lauren Cutshaw will have to take her medicine. Cutshaw was pulled over for running a Stop Sign and told the officer that he couldn't give her a ticket because she was a "Clean Thoroughbred White Girl". Now, I bet horses sometimes.. and I have heard of Black Stallions..and Chestnut Mares.. and Palomino... and I know not to bet on Grey Horses unless its a Turf race.. But, I have NEVER heard of "Thoroughbred White" ..I mean.. I've heard of the "Basic" White girl ..and I've been warned not to ride one..But, I gotta say .. the "Clean Thoroughbred White" is a new one on me. Are the good in the Mud? Are they only for Sprint or are they Bred for Distance. If I'm gonna go a few furlongs with one this is something I NEED to KNOW.. Now, If there are any girls out there thinking of trying a similar defense.. It didn't work on the Judge. She had to plead guilty to DUI and pay the fine and enter the Alcohol Safety program. Worse, she had to take a mugshot without her make-up !!!! HERE ..The HORROR... THE HORROR !!!!
From SeekingAlpha.com
Wall Street futures are slightly lower, down 0.3%, after ending roughly flat on Wednesday as traders digested a 25 bps rate cut from a divided Federal Reserve. While the "moderate" policy seemed to disappoint markets, Jerome Powell highlighted that "if the economy does turn down, then a more extensive sequence of rate cuts could be appropriate." U.S. and Chinese deputy trade negotiators are also set to resume face-to-face talks today for the first time in nearly two months, aiming to lay the groundwork for high-level discussions in early October.
Powell's cautious rhetoric drew fresh criticism from President Trump, who tweeted, "Jay Powell and the Federal Reserve Fail Again...No 'guts,' no sense, no vision!" It's also important to note the increasing gap in what policymakers are thinking. "It's a testament of how uncertain things are, and there’s a difference of views, whether it’s on the trade war or how monetary policy in Europe will shake out," said Ben Jeffrey, rate strategist at BMO.
The Swiss National Bank kept its policy rate and deposit rate at minus 0.75% overnight, declining to join a global move that's seen monetary loosening by the ECB and the Fed in the past week. Also living in negative rate land, the Bank of Japan held off from offering more stimulus as some had hoped, though it called for a re-examination of prices and the economy at its October meeting. Next up is the Bank of England, which is expected to stand pat due to elevated Brexit uncertainty, but it will be interesting to see if the minutes suggest any tweaks to its forecasts. Go deeper: Norway 'outlier' as Norges Bank ups rates again.
The New York Fed is offering an overnight repurchase agreement operation for the third day in a row, injecting $75B into a vital corner of finance to restore order in the banking system. The temporary liquidity follows the Fed's reduction in the interest rate on excess reserves, or IOER, another attempt to quell money-market stresses. The prior operations have soothed markets, with repo rates declining Wednesday to more normal levels after jumping to 10% on Tuesday, four times where they were last week.
In a move that would replace the contentious Irish backstop, Boris Johnson could designate Northern Ireland as a "special economic zone," according to British officials. A meeting with the EU's Jean-Claude Juncker this week saw "no progress" on the backstop, an insurance policy to maintain an open border in Ireland. Meanwhile, Britain's Supreme Court today will hear a third and final day of legal arguments on whether Johnson acted unlawfully when he suspended parliament in the run-up to Brexit. Go deeper: Breakdown on sterling vs. its peers.
OxyContin maker Purdue Pharma has asked a U.S. bankruptcy judge to halt for roughly nine months more than 2,600 lawsuits alleging the company and its controlling Sackler family helped fuel the U.S. opioid crisis. An injunction would preserve money that would otherwise be drained through prolonged legal battles, according to the company, which is spending more than $5M a week in legal fees and related expenses. "This filing isn't a surprise. It's yet another effort by Purdue to avoid accountability and shield the Sackler family fortune," said Massachusetts AG Maura Healey, who has sued both the company and family members.
There are some conflicting reports, but a possible deal might come via a spin-off or combination with Dish Network (NASDAQ:DISH). The rumors follow a couple of weeks of pressure from activist Elliott Management over AT&T's (NYSE:T) heavy acquisitions of DirecTV and Time Warner. Regulatory issues, however, might make a combination with Dish Network difficult (the federal government already rejected a Dish/DirecTV merger proposal in 2001). T +0.5%; DISH +1.2% premarket. Go deeper: John M. Mason discusses the AT&T-Elliott saga.
Steve Dowling, the head of Apple's (NASDAQ:AAPL) public relations department, will be leaving this week, marking the third top executive to leave the tech giant this year. Retail boss Angela Ahrendts announced her departure in February, while Apple's legendary design boss Jony Ive resigned in June. Disney (NYSE:DIS) CEO Bob Iger also submitted his resignation from Apple's board last week as the two companies prepare to launch rival video streaming services this November.
Tesla's (NASDAQ:TSLA) Model 3 has earned the top safety rating from the Insurance Institute of Highway Safety, becoming the first Tesla to do so. The company's cars generally rank among the most expensive vehicles to insure - due to their high repair costs for components and sensor equipment - prompting Tesla last month to launch an insurance service in California. The EV maker hopes to offer lower rates in the state, its biggest market, because of the safety features on its vehicles. Go deeper: Data overview of Tesla.
What else is happening...
Amazon (NASDAQ:AMZN) rolls out cash payment options.
India bans production, import, distribution of e-cigarettes.
Wednesday's Key Earnings
General Mills (NYSE:GIS) -0.9% on mixed FQ1 results.
Today's Markets
In Asia, Japan +0.4%. Hong Kong -1.1%. China +0.5%. India -1.3%. In Europe, at midday, London +0.5%. Paris +0.5%. Frankfurt +0.2%. Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.4%. Crude +1.7% to $59.04. Gold -0.8% to $1504.40. Ten-year Treasury Yield flat at 1.79%
Today's Economic Calendar
8:30 Initial Jobless Claims 8:30 Philly Fed Business Outlook 8:30 Current Account 10:00 Existing Home Sales 10:00 Leading Indicators 10:30 EIA Natural Gas Inventory 4:30 PM Money Supply 4:30 PM Fed Balance Sheet
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Roger “Raj” Searing rajsearing@gmail.com
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